# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0000940400-25-002540
**Filing Date:** 2025-9
**Character Count:** 388482
**Document Hash:** 4a8dd012c18f2113bd279a3708a1c11a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002540.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0000940400-25-002540

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New York Life Investments Active ETF Trust
- **CENTRAL INDEX KEY:** 0001426439

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22739
- **FILM NUMBER:** 251344553

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** (212) 576-5018

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NYLI MacKay Core Plus Bond ETF
- **DATE OF NAME CHANGE:** 20241203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New York Life Investments Active ETF Trust
- **DATE OF NAME CHANGE:** 20240822

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IndexIQ Active ETF Trust
- **DATE OF NAME CHANGE:** 20080207

## Series and Classes Contracts Data

### NYLI MacKay Core Plus Bond ETF (Series ID: S000071156)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000225893 | NYLI MacKay Core Plus Bond ETF | CPLB            |

## Nport-Ex

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Long-Term Bonds — 98.5%** | **Long-Term Bonds — 98.5%** | **Long-Term Bonds — 98.5%** |
| **Bank Loans — 1.0%** |  |  |
| **Auto Parts & Equipment — 0.1%** |  |  |
| Clarios Global LP First Lien Amendment No. 6 Dollar Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;7.106%, (1 Month CME SOFR + 2.75%), due 1/28/32<sup>(a)</sup> | $100000 | $100042 |
| RealTruck Group, Inc. Second Amendment Incremental Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;9.476%, (1 Month CME SOFR + 5.00%), due 1/31/28<sup>(a)</sup> | 149244 | 138673 |
|  |  | 238715 |
| **Chemicals — 0.1%** |  |  |
| SCIH Salt Holdings, Inc. Incremental Term B-1 Loan (First Lien) |  |  |
| &nbsp;&nbsp;&nbsp;7.319%, (3 Month CME SOFR + 3.00%), due 1/31/29<sup>(a)</sup> | 248750 | 248992 |
| **Commercial Services — 0.0%<sup>(b)</sup>** |  |  |
| Camelot US Acquisition LLC Amendment No. 7 Incremental Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;7.606%, (1 Month CME SOFR + 3.25%), due 1/31/31<sup>(a)</sup> | 100000 | 100375 |
| **Computers — 0.1%** |  |  |
| Amentum Holdings, Inc. Initial Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.603%, (1 Month CME SOFR + 2.25%), due 9/29/31<sup>(a)</sup> | 219375 | 218004 |
| **Diversified Financial Services — 0.0%<sup>(b)</sup>** |  |  |
| Aretec Group, Inc. Term B-3 Loan (First Lien) |  |  |
| &nbsp;&nbsp;&nbsp;7.857%, (1 Month CME SOFR + 3.50%), due 8/9/30<sup>(a)</sup> | 99749 | 99921 |
| **Electric — 0.2%** |  |  |
| Talen Energy Supply, LLC 2024-1 Incremental Term B Loan |  |  |
| &nbsp;&nbsp;&nbsp;6.823%, (3 Month CME SOFR + 2.50%), due 12/13/31<sup>(a)</sup> | 547250 | 547836 |
| **Internet — 0.0%<sup>(b)</sup>** |  |  |
| Arches Buyer, Inc. Refinancing Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;7.702%, (1 Month CME SOFR + 3.25%), due 12/6/27<sup>(a)</sup> | 99739 | 99545 |
| **Machinery-Diversified — 0.1%** |  |  |
| TK Elevator U.S. Newco, Inc., Facility B |  |  |
| &nbsp;&nbsp;&nbsp;7.343%, (1 Month CME SOFR + 3.00%), due 4/30/30<sup>(a)</sup> | 199500 | 200497 |
| **Media — 0.0%<sup>(b)</sup>** |  |  |
| Gray Television, Inc. Term D Loan |  |  |
| &nbsp;&nbsp;&nbsp;7.468%, (1 Month CME SOFR + 3.00%), due 12/1/28<sup>(a)</sup> | 53401 | 53229 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Bank Loans (continued)** |  |  |
| **Mining — 0.1%** |  |  |
| American Rock Salt Co., LLC Initial Loan (First Lien) |  |  |
| &nbsp;&nbsp;&nbsp;8.585%, (3 Month CME SOFR + 4.00%), due 6/9/28<sup>(a)</sup> | $198450 | $150326 |
| **Pipelines — 0.0%<sup>(b)</sup>** |  |  |
| New Fortress Energy, Inc. Second Amendment Incremental Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;9.824%, (3 Month CME SOFR + 5.50%), due 10/30/28<sup>(a)</sup> | 199249 | 91903 |
| **Retail — 0.3%** |  |  |
| Great Outdoors Group, LLC Term B-3 Loan |  |  |
| &nbsp;&nbsp;&nbsp;7.616%, (1 Month CME SOFR + 3.25%), due 1/23/32<sup>(a)</sup> | 497500 | 497251 |
| PetSmart LLC Initial Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;8.211%, (1 Month CME SOFR + 3.75%), due 2/11/28<sup>(a)</sup> | 198966 | 198552 |
|  |  | 695803 |
| **Transportation — 0.0%<sup>(b)</sup>** |  |  |
| NA Rail Hold Co., LLC Tranche B-3 Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;7.310%, (3 Month CME SOFR + 3.00%), due 3/8/32<sup>(a)</sup> | 100000 | 100250 |
| **Total Bank Loans** |  |  |
| &nbsp;&nbsp;**(Cost $2,975,388)** |  | **2845396** |
| **Collateralized Loan Obligations — 1.6%** |  |  |
| AGL CLO 17 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-17A BR, 5.725%, (3 Month CME SOFR + 1.40%), due 1/21/35<sup>(a)</sup> | 700000 | 700275 |
| BCC Middle Market CLO 2025-1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A A1, 5.725%, (3 Month CME SOFR + 1.62%), due 7/17/37<sup>(a)</sup> | 435000 | 435979 |
| Blackrock Rainier CLO VI Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-6A A1R, 5.875%, (3 Month CME SOFR + 1.55%), due 4/20/37<sup>(a)</sup> | 400000 | 400067 |
| Fortress Credit Opportunities XXI CLO LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-21A A1TR, 5.895%, (3 Month CME SOFR + 1.57%), due 1/21/37<sup>(a)</sup> | 600000 | 601181 |
| Golub Capital Partners CLO 49M Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-49A A2R2, 6.002%, (3 Month CME SOFR + 1.68%), due 7/20/38<sup>(a)</sup> | 750000 | 750081 |
| Golub Capital Partners CLO 78M |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-78A A1, 5.705%, (3 Month CME SOFR + 1.38%), due 4/21/39<sup>(a)</sup> | 600000 | 598981 |
| Great Lakes CLO Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A ARR, 5.798%, (3 Month CME SOFR + 1.48%), due 4/15/37<sup>(a)</sup> | 515000 | 515533 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Loan Obligations (continued)** |  |  |
| Sixth Street CLO XIV Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-14A A1R2, 5.475%, (3 Month CME SOFR + 1.15%), due 1/20/38<sup>(a)</sup> | $700000 | $698682 |
|  |  | 4700779 |
| **Total Collateralized Loan Obligations** |  |  |
| &nbsp;&nbsp;**(Cost $4,697,725)** |  | **4700779** |
| **Collateralized Mortgage Obligations — 6.1%** |  |  |
| **Mortgage Securities — 6.1%** |  |  |
| Agate Bay Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-5 B3, 3.573%, due 7/25/45<sup>(a)(c)</sup> | 147493 | 119293 |
| BRAVO Residential Funding Trust 2024-NQM8 |  |  |
| &nbsp;&nbsp;Series 2024-NQM8 A1A, 4.300%, due 8/1/53 | 304573 | 296680 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2005-9 1A1, 5.067%, (1 Month CME SOFR + 0.71%), due 5/25/35<sup>(a)</sup> | 34983 | 30557 |
| Connecticut Avenue Securities |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-R01 1B1, 6.050%, (1 Month SOFR + 1.70%), due 1/25/45<sup>(a)</sup> | 770000 | 768322 |
| Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-SBT1 1B1, 11.214%, (1 Month SOFR + 6.86%), due 2/25/40<sup>(a)</sup> | 1050000 | 1114312 |
| &nbsp;&nbsp;&nbsp;Series 2021-R03 1B2, 9.850%, (1 Month SOFR + 5.50%), due 12/25/41<sup>(a)</sup> | 485000 | 505541 |
| &nbsp;&nbsp;&nbsp;Series 2022-R01 1B2, 10.350%, (1 Month SOFR + 6.00%), due 12/25/41<sup>(a)</sup> | 425000 | 445850 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02 2B2, 12.000%, (1 Month SOFR + 7.65%), due 1/25/42<sup>(a)</sup> | 490000 | 524799 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03 1B2, 14.200%, (1 Month SOFR + 9.85%), due 3/25/42<sup>(a)</sup> | 210000 | 233820 |
| &nbsp;&nbsp;&nbsp;Series 2022-R07 1M2, 9.000%, (1 Month SOFR + 4.65%), due 6/25/42<sup>(a)</sup> | 100000 | 106351 |
| &nbsp;&nbsp;&nbsp;Series 2022-R08 1B1, 9.950%, (1 Month SOFR + 5.60%), due 7/25/42<sup>(a)</sup> | 865000 | 932582 |
| &nbsp;&nbsp;&nbsp;Series 2023-R07 2M2, 7.600%, (1 Month SOFR + 3.25%), due 9/25/43<sup>(a)</sup> | 540000 | 562424 |
| &nbsp;&nbsp;&nbsp;Series 2024-R02 1B1, 6.850%, (1 Month SOFR + 2.50%), due 2/25/44<sup>(a)</sup> | 220000 | 225159 |
| &nbsp;&nbsp;&nbsp;Series 2024-R03 2M2, 6.300%, (1 Month SOFR + 1.95%), due 3/25/44<sup>(a)</sup> | 200000 | 201624 |
| &nbsp;&nbsp;&nbsp;Series 2024-R05 2B1, 6.350%, (1 Month SOFR + 2.00%), due 7/25/44<sup>(a)</sup> | 1340000 | 1344967 |
| Connecticut Avenue Securities Trust 2019-HRP1 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-HRP1 B1, 13.714%, (1 Month SOFR + 9.36%), due 11/25/39<sup>(a)</sup> | 635000 | 684708 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2005-2 2A1A, 4.905%, (1 Month CME SOFR + 0.55%), due 5/19/35<sup>(a)</sup> | 56659 | 54235 |
| J.P. Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4 B1, 2.879%, due 8/25/51<sup>(a)(c)</sup> | 1436744 | 1154123 |
| &nbsp;&nbsp;&nbsp;Series 2024-INV1 A4, 6.000%, due 4/25/55<sup>(a)(c)</sup> | 547537 | 551212 |
| &nbsp;&nbsp;Series 2025-5MPR A1D, 5.500%, due 11/25/55 | 440147 | 439189 |
| J.P. Morgan Mortgage Trust 2022-1 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1 B3, 3.085%, due 7/25/52<sup>(a)(c)</sup> | 728276 | 581455 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Mortgage Obligations (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Mill City Mortgage Loan Trust 2018-3 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-3 B2, 3.250%, due 8/25/58<sup>(a)(c)</sup> | $833224 | $629208 |
| Multifamily Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-01 CE, 11.964%, (1 Month SOFR + 7.61%), due 3/25/50<sup>(a)</sup> | 200000 | 207146 |
| OBX 2024-NQM9 Trust |  |  |
| &nbsp;&nbsp;Series 2024-NQM9 A1, 6.030%, due 1/25/64 | 286799 | 288613 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-INV2 A5, 4.000%, due 5/27/49<sup>(a)(c)</sup> | 249997 | 232522 |
| &nbsp;&nbsp;&nbsp;Series 2022-J1 A14, 2.500%, due 2/25/52<sup>(a)(c)</sup> | 752231 | 602226 |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-5 A1, 2.500%, due 11/25/51<sup>(a)(c)</sup> | 4350769 | 3504701 |
| STACR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-HRP1 B2, 16.214%, (1 Month SOFR + 11.86%), due 5/25/43<sup>(a)</sup> | 398484 | 482787 |
| UWM Mortgage Trust 2021-INV5 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-INV5 A14, 3.000%, due 1/25/52<sup>(a)(c)</sup> | 873418 | 729474 |
| WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2004-AR13 A2B, 5.347%, (1 Month CME SOFR + 0.99%), due 11/25/34<sup>(a)</sup> | 37569 | 35688 |
|  |  | 17589568 |
| **Total Collateralized Mortgage Obligations** |  |  |
| &nbsp;&nbsp;**(Cost $17,701,717)** |  | **17589568** |
| **Commercial Asset-Backed Securities — 7.1%** |  |  |
| **Asset Backed Securities — 7.1%** |  |  |
| Ally Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;Series 2024-B G, 11.395%, due 9/15/32 | 572521 | 568812 |
| Ares Loan Funding IX Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-ALF9A A2, 5.640%, (3 Month CME SOFR + 1.40%), due 3/31/38<sup>(a)</sup> | 600000 | 600316 |
| Bayview Opportunity Master Fund VII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-EDU1 C, 6.150%, (1 Month SOFR + 1.80%), due 6/25/47<sup>(a)</sup> | 316254 | 315183 |
| Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;Series 2024-1 D, 6.030%, due 11/15/29 | 1500000 | 1521601 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2020-1 A2, 1.990%, due 7/15/60 | 542773 | 455743 |
| &nbsp;&nbsp;Series 2020-1 B1, 2.280%, due 7/15/60 | 845485 | 650732 |
| &nbsp;&nbsp;Series 2020-1 B2, 2.600%, due 7/15/60 | 512688 | 389466 |
| &nbsp;&nbsp;Series 2021-1A B1, 1.980%, due 3/15/61 | 362842 | 277512 |
| DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;Series 2021-4A D, 1.990%, due 9/15/27 | 148609 | 146518 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2022-2A E, 6.340%, due 10/15/29 | 1065000 | 985994 |
| &nbsp;&nbsp;Series 2022-5A E, 10.450%, due 4/15/30 | 1265000 | 1330360 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Asset-Backed Securities (continued)** |  |  |
| **Asset Backed Securities (continued)** |  |  |
| &nbsp;&nbsp;Series 2023-4A D, 6.950%, due 12/17/29 | $260000 | $268129 |
| Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;Series 2021-3 E, 3.320%, due 12/15/28 | 890000 | 825851 |
| &nbsp;&nbsp;Series 2022-1 D, 3.640%, due 3/15/28 | 780000 | 756898 |
| &nbsp;&nbsp;Series 2022-2 D, 5.800%, due 4/17/28 | 1264000 | 1162769 |
| Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;Series 2023-1 D, 6.260%, due 8/15/35 | 425000 | 434691 |
| GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;Series 2022-3A E, 8.350%, due 10/15/29 | 425000 | 441102 |
| &nbsp;&nbsp;Series 2024-3A D, 5.530%, due 2/18/31 | 660000 | 666582 |
| Hertz Vehicle Financing III LP |  |  |
| &nbsp;&nbsp;Series 2021-2A D, 4.340%, due 12/27/27 | 730000 | 703390 |
| Home Partners of America |  |  |
| &nbsp;&nbsp;Series 2021-2 B, 2.302%, due 12/17/26 | 95960 | 92526 |
| HPEFS Equipment Trust |  |  |
| &nbsp;&nbsp;Series 2024-1A D, 5.820%, due 11/20/31 | 260000 | 262473 |
| LAD Auto Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2024-3A D, 5.180%, due 2/17/32 | 885000 | 891056 |
| Magnetite 50 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-50A A1, 5.581%, (3 Month CME SOFR + 1.28%), due 7/25/38<sup>(a)</sup> | 650000 | 650070 |
| New Economy Assets Phase 1 Sponsor LLC |  |  |
| &nbsp;&nbsp;Series 2021-1 A1, 1.910%, due 10/20/61 | 420000 | 344506 |
| &nbsp;&nbsp;Series 2021-1 B1, 2.410%, due 10/20/61 | 865000 | 674917 |
| OneMain Direct Auto Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2019-1A D, 4.680%, due 4/14/31 | 385000 | 383132 |
| Progress Residential 2025-SFR3 Trust |  |  |
| &nbsp;&nbsp;Series 2025-SFR3 D, 3.390%, due 7/17/42 | 540000 | 481396 |
| QTS Issuer ABS I LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A2, 5.439%, due 5/25/55 | 470000 | 472331 |
| Santander Drive Auto Receivables Trust 2025-1 |  |  |
| &nbsp;&nbsp;Series 2025-1 D, 5.430%, due 3/17/31 | 430000 | 434203 |
| Stifel SBA IO Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A A2, 1.268%, due 6/25/50<sup>(a)(c)(d)</sup> | 4180561 | 147626 |
| Subway Funding LLC |  |  |
| &nbsp;&nbsp;Series 2024-1A A2I, 6.028%, due 7/30/54 | 656700 | 664925 |
| &nbsp;&nbsp;Series 2024-3A A23, 5.914%, due 7/30/54 | 338300 | 330426 |
| &nbsp;&nbsp;Series 2024-3A A2II, 5.566%, due 7/30/54 | 402975 | 396612 |
| Tricon American Homes |  |  |
| &nbsp;&nbsp;Series 2020-SFR1 A, 1.499%, due 7/17/38 | 267897 | 260062 |
| Tricon Residential 2024-SFR4 Trust |  |  |
| &nbsp;&nbsp;Series 2024-SFR4 A, 4.300%, due 11/17/41 | 493164 | 483482 |
| Zayo Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A2, 5.648%, due 3/20/55 | 840000 | 848273 |
|  |  | 20319665 |
| **Total Commercial Asset-Backed Securities** |  |  |
| &nbsp;&nbsp;**(Cost $20,694,328)** |  | **20319665** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Mortgage-Backed Securities — 8.1%** |  |  |
| **Mortgage Securities — 8.1%** |  |  |
| Bank |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-BN19 C, 4.026%, due 8/15/61<sup>(a)(c)</sup> | $840000 | $612367 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK7 C, 3.981%, due 9/15/60<sup>(a)(c)</sup> | 245000 | 219130 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN20 C, 3.651%, due 9/15/62<sup>(a)(c)</sup> | 180000 | 140817 |
| &nbsp;&nbsp;Series 2020-BN25 D, 2.500%, due 1/15/63 | 1390000 | 1064517 |
| Bank of America Merrill Lynch Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2016-UB10 D, 3.000%, due 7/15/49 | 1380000 | 1215715 |
| BBCMS Mortgage Trust 2023-C21 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-C21 A3, 6.296%, due 9/15/56<sup>(a)(c)</sup> | 420000 | 447702 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B3 C, 4.546%, due 4/10/51<sup>(a)(c)</sup> | 550000 | 465626 |
| &nbsp;&nbsp;Series 2019-B11 A5, 3.542%, due 5/15/52 | 315000 | 299432 |
| &nbsp;&nbsp;&nbsp;Series 2019-B14 C, 3.763%, due 12/15/62<sup>(a)(c)</sup> | 450000 | 341725 |
| &nbsp;&nbsp;&nbsp;Series 2019-B9 C, 4.971%, due 3/15/52<sup>(a)(c)</sup> | 1050000 | 914944 |
| BMO Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-C1 111A, 3.269%, due 2/17/55<sup>(a)(c)</sup> | 840000 | 761625 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-BRBK D, 10.311%, (1 Month CME SOFR + 5.97%), due 10/15/41<sup>(a)</sup> | 495000 | 496846 |
| BX Trust 2025-VLT7 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-VLT7 C, 6.650%, (1 Month CME SOFR + 2.35%), due 7/15/44<sup>(a)</sup> | 585000 | 586645 |
| CD Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-CD4 C, 4.350%, due 5/10/50<sup>(a)(c)</sup> | 480000 | 440490 |
| &nbsp;&nbsp;Series 2017-CD4 D, 3.300%, due 5/10/50 | 495000 | 412965 |
| CFCRE Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-C3 D, 3.052%, due 1/10/48<sup>(a)(c)</sup> | 540000 | 502545 |
| CFCRE Commercial Mortgage Trust 2016-C4 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-C4 D, 4.842%, due 5/10/58<sup>(a)(c)</sup> | 617007 | 585062 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B2 D, 3.145%, due 3/10/51<sup>(a)(c)</sup> | 1420000 | 1074473 |
| COMM 2014-CCRE20 Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2014-CR20 D, 3.222%, due 11/10/47 | 790000 | 594933 |
| COMM Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-DC2 D, 3.930%, due 2/10/49<sup>(a)(c)</sup> | 1260000 | 1192128 |
| CONE Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-DFW1 D, 7.382%, (1 Month CME SOFR + 3.04%), due 8/15/41<sup>(a)</sup> | 270000 | 269314 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2015-C3 A4, 3.718%, due 8/15/48 | 18788 | 18724 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Mortgage-Backed Securities (continued)** | **Commercial Mortgage-Backed Securities (continued)** |  |
| **Mortgage Securities (continued)** |  |  |
| DBGS 2018-5BP Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-5BP A, 5.234%, (1 Month CME SOFR + 0.89%), due 6/15/33<sup>(a)</sup> | $365000 | $346750 |
| Durst Commercial Mortgage Trust 2025-151 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-151 D, 7.018%, due 8/10/42<sup>(a)(c)</sup> | 655000 | 655000 |
| Freddie Mac Multifamily Structured Credit Risk |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-MN9 M2, 7.600%, (1 Month SOFR + 3.25%), due 10/25/44<sup>(a)</sup> | 915000 | 923795 |
| GS Mortgage Securities Corp. Trust 2017-GPTX |  |  |
| &nbsp;&nbsp;Series 2017-GPTX A, 2.856%, due 5/10/34 | 513367 | 451989 |
| GS Mortgage Securities Trust 2018-GS10 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-GS10 C, 4.400%, due 7/10/51<sup>(a)(c)</sup> | 750000 | 656024 |
| JPMCC Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2019-COR5 D, 3.000%, due 6/13/52 | 155000 | 116173 |
| JPMDB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-C7 C, 4.174%, due 10/15/50<sup>(a)(c)</sup> | 415000 | 370993 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-C22 D, 3.984%, due 4/15/48<sup>(a)(c)</sup> | 900000 | 562536 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;Series 2014-150E A, 3.912%, due 9/9/32 | 1050000 | 938415 |
| &nbsp;&nbsp;Series 2015-420 A, 7.982%, due 10/12/50 | 430402 | 434928 |
| MSWF Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2 AS, 6.491%, due 12/15/56<sup>(a)(c)</sup> | 395000 | 423351 |
| NCMF Trust 2025-MFS |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-MFS D, 6.618%, due 6/10/33<sup>(a)(c)</sup> | 560000 | 564877 |
| ROCK Trust |  |  |
| &nbsp;&nbsp;Series 2024-CNTR E, 8.819%, due 11/13/41 | 1300000 | 1367470 |
| SG Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2016-C5 B, 3.933%, due 10/10/48 | 400000 | 384428 |
| SKY Trust 2025-LINE |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-LINE B, 8.029%, (1 Month CME SOFR + 3.69%), due 4/15/42<sup>(a)</sup> | 492395 | 492391 |
| UBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C9 C, 4.944%, due 3/15/51<sup>(a)(c)</sup> | 440000 | 296654 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2016-NXS6 D, 3.059%, due 11/15/49 | 630000 | 556353 |
| &nbsp;&nbsp;Series 2017-C40 D, 2.700%, due 10/15/50 | 635000 | 535809 |
| &nbsp;&nbsp;&nbsp;Series 2019-C51 C, 4.289%, due 6/15/52<sup>(a)(c)</sup> | 460000 | 380614 |
|  |  | 23116275 |
| **Total Commercial Mortgage-Backed Securities** | **Total Commercial Mortgage-Backed Securities** |  |
| &nbsp;&nbsp;**(Cost $22,530,718)** |  | **23116275** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds — 44.3%** |  |  |
| **Advertising — 0.2%** |  |  |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;7.750%, due 4/15/28 | $105000 | $99151 |
| Lamar Media Corp. |  |  |
| &nbsp;&nbsp;4.875%, due 1/15/29 | 300000 | 294618 |
| Outfront Media Capital LLC / Outfront Media Capital Corp. |  |  |
| &nbsp;&nbsp;5.000%, due 8/15/27 | 150000 | 148490 |
|  |  | 542259 |
| **Aerospace & Defense — 0.6%** |  |  |
| AAR Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;6.750%, due 3/15/29 | 140000 | 143648 |
| Efesto Bidco S.p.A Efesto U.S. LLC, (Italy) |  |  |
| &nbsp;&nbsp;Series XR, 7.500%, due 2/15/32 | 80000 | 81600 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;6.000%, due 1/15/33 | 75000 | 75370 |
| &nbsp;&nbsp;6.375%, due 5/31/33 | 300000 | 301906 |
| &nbsp;&nbsp;6.750%, due 8/15/28 | 1000000 | 1020362 |
|  |  | 1622886 |
| **Agriculture — 0.1%** |  |  |
| Darling Ingredients, Inc. |  |  |
| &nbsp;&nbsp;6.000%, due 6/15/30 | 250000 | 251598 |
| **Airlines — 1.0%** |  |  |
| American Airlines Class B Pass Through Trust |  |  |
| &nbsp;&nbsp;Series 2021-1, B, 3.950%, due 7/11/30 | 215350 | 204179 |
| British Airways Class A Pass Through Trust, (United Kingdom) |  |  |
| &nbsp;&nbsp;Series 2021-1, A, 2.900%, due 3/15/35 | 806279 | 729016 |
| Delta Air Lines, Inc. / SkyMiles IP Ltd. |  |  |
| &nbsp;&nbsp;4.500%, due 10/20/25 | 29375 | 29303 |
| &nbsp;&nbsp;4.750%, due 10/20/28 | 1055000 | 1055648 |
| JetBlue Class AA Pass Through Trust |  |  |
| &nbsp;&nbsp;Series 2019-1, AA, 2.750%, due 5/15/32 | 721632 | 628901 |
| United Airlines Class A Pass Through Trust |  |  |
| &nbsp;&nbsp;Series 20-1, A, 5.875%, due 10/15/27 | 197296 | 201052 |
|  |  | 2848099 |
| **Auto Manufacturers — 2.1%** |  |  |
| American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;5.150%, due 7/9/32 | 715000 | 722499 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;4.125%, due 8/17/27 | 760000 | 740419 |
| &nbsp;&nbsp;6.054%, due 11/5/31 | 345000 | 345198 |
| &nbsp;&nbsp;6.950%, due 3/6/26 | 435000 | 438418 |
| &nbsp;&nbsp;7.200%, due 6/10/30 | 390000 | 410313 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;2.350%, due 1/8/31 | 640000 | 557870 |
| &nbsp;&nbsp;4.300%, due 4/6/29 | 365000 | 358407 |
| &nbsp;&nbsp;5.625%, due 4/4/32 | 715000 | 726251 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Auto Manufacturers (continued)** |  |  |
| JB Poindexter & Co., Inc. |  |  |
| &nbsp;&nbsp;8.750%, due 12/15/31 | $350000 | $357958 |
| Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;1.850%, due 9/16/26 | 1150000 | 1103488 |
| PM General Purchaser LLC |  |  |
| &nbsp;&nbsp;9.500%, due 10/1/28 | 150000 | 116625 |
|  |  | 5877446 |
| **Auto Parts & Equipment — 0.4%** |  |  |
| Garrett Motion Holdings, Inc. / Garrett LX I Sarl |  |  |
| &nbsp;&nbsp;7.750%, due 5/31/32 | 90000 | 93399 |
| IHO Verwaltungs GmbH, (Germany) |  |  |
| &nbsp;&nbsp;7.750%, due 11/15/30 | 500000 | 513211 |
| &nbsp;&nbsp;8.000%, due 11/15/32 | 45000 | 46263 |
| Real Hero Merger Sub 2, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 2/1/29 | 150000 | 103081 |
| Tenneco, Inc. |  |  |
| &nbsp;&nbsp;8.000%, due 11/17/28 | 250000 | 248137 |
|  |  | 1004091 |
| **Banks — 8.6%** |  |  |
| Australia & New Zealand Banking Group Ltd., (Australia) |  |  |
| &nbsp;&nbsp;&nbsp;5.731%, (5 Year US CMT T-Note + 1.62%), due 9/18/34<sup>(a)</sup> | 610000 | 624868 |
| Banco Santander SA, (Spain) |  |  |
| &nbsp;&nbsp;6.350%, due 3/14/34 | 200000 | 210024 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.572%, (SOFR + 1.21%), due 10/20/32<sup>(a)</sup> | 815000 | 718259 |
| &nbsp;&nbsp;&nbsp;2.687%, (SOFR + 1.32%), due 4/22/32<sup>(a)</sup> | 605000 | 542494 |
| Barclays PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, (5 Year US CMT T-Note + 3.41%), due 12/15/73<sup>(a)</sup> | 810000 | 769671 |
| &nbsp;&nbsp;&nbsp;5.367%, (SOFR + 1.23%), due 2/25/31<sup>(a)</sup> | 805000 | 822384 |
| &nbsp;&nbsp;&nbsp;8.000%, (5 Year US CMT T-Note + 5.43%), due 12/15/73<sup>(a)</sup> | 195000 | 206669 |
| BNP Paribas SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;3.052%, (SOFR + 1.51%), due 1/13/31<sup>(a)</sup> | 440000 | 409076 |
| &nbsp;&nbsp;&nbsp;4.625%, (5 Year US CMT T-Note + 3.20%), due 7/12/74<sup>(a)</sup> | 350000 | 342719 |
| BPCE SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;2.045%, (SOFR + 1.09%), due 10/19/27<sup>(a)</sup> | 1220000 | 1180641 |
| &nbsp;&nbsp;&nbsp;6.714%, (SOFR + 2.27%), due 10/19/29<sup>(a)</sup> | 250000 | 264450 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.520%, (SOFR + 1.18%), due 11/3/32<sup>(a)</sup> | 560000 | 488866 |
| &nbsp;&nbsp;&nbsp;5.411%, (5 Year US CMT T-Note + 1.73%), due 9/19/39<sup>(a)</sup> | 400000 | 391635 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;3.250%, due 4/30/30 | 445000 | 415875 |
| Cooperatieve Rabobank UA, (Netherlands) |  |  |
| &nbsp;&nbsp;&nbsp;3.649%, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 1.22%), due 4/6/28<sup>(a)(e)</sup> | 1045000 | 1029710 |
| Credit Agricole SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, (5 Year US CMT T-Note + 3.24%), due 3/23/74<sup>(a)</sup> | 440000 | 415639 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Banks (continued)** |  |  |
| Deutsche Bank AG/New York NY, (Germany) |  |  |
| &nbsp;&nbsp;&nbsp;2.552%, (SOFR + 1.32%), due 1/7/28<sup>(a)</sup> | $910000 | $882718 |
| &nbsp;&nbsp;&nbsp;3.729%, (SOFR + 2.76%), due 1/14/32<sup>(a)</sup> | 570000 | 527602 |
| First Horizon Bank |  |  |
| &nbsp;&nbsp;5.750%, due 5/1/30 | 811000 | 828416 |
| First Horizon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.514%, (SOFR + 1.77%), due 3/7/31<sup>(a)</sup> | 600000 | 610444 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.141%, (5 Year US CMT T-Note + 1.70%), due 11/18/39<sup>(a)</sup> | 755000 | 771781 |
| Huntington National Bank (The) |  |  |
| &nbsp;&nbsp;5.650%, due 1/10/30 | 631000 | 653596 |
| Intesa Sanpaolo SpA, (Italy) |  |  |
| &nbsp;&nbsp;7.000%, due 11/21/25 | 830000 | 835129 |
| KeyBank NA |  |  |
| &nbsp;&nbsp;4.150%, due 8/8/25 | 485000 | 484885 |
| &nbsp;&nbsp;4.900%, due 8/8/32 | 720000 | 700793 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;6.401%, (SOFR + 2.42%), due 3/6/35<sup>(a)</sup> | 320000 | 342013 |
| Lloyds Banking Group PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;4.582%, due 12/10/25 | 775000 | 774558 |
| &nbsp;&nbsp;4.650%, due 3/24/26 | 590000 | 589650 |
| &nbsp;&nbsp;&nbsp;4.976%, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 2.30%), due 8/11/33<sup>(a)</sup> | 355000 | 353094 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.385%, (SOFR + 1.61%), due 1/16/36<sup>(a)</sup> | 430000 | 428439 |
| &nbsp;&nbsp;&nbsp;6.082%, (SOFR + 2.26%), due 3/13/32<sup>(a)</sup> | 410000 | 431438 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.484%, (SOFR + 1.36%), due 9/16/36<sup>(a)</sup> | 1050000 | 895009 |
| &nbsp;&nbsp;&nbsp;2.511%, (SOFR + 1.20%), due 10/20/32<sup>(a)</sup> | 595000 | 520857 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.342%, (SOFR + 2.14%), due 5/31/35<sup>(a)</sup> | 50000 | 52568 |
| &nbsp;&nbsp;&nbsp;6.499%, (SOFR + 2.36%), due 3/9/29<sup>(a)</sup> | 855000 | 890154 |
| Societe Generale SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, (5 Year US CMT T-Note + 4.51%), due 5/18/74<sup>(a)</sup> | 675000 | 625256 |
| Synchrony Bank |  |  |
| &nbsp;&nbsp;5.400%, due 8/22/25 | 715000 | 714866 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.153%, (SOFR + 1.57%), due 8/5/32<sup>(a)</sup> | 420000 | 427168 |
| UBS Group AG, (Switzerland) |  |  |
| &nbsp;&nbsp;&nbsp;1.364%, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 1.08%), due 1/30/27<sup>(a)</sup> | 285000 | 280319 |
| &nbsp;&nbsp;&nbsp;4.375%, (5 Year US CMT T-Note + 3.31%), due 8/10/73<sup>(a)</sup> | 740000 | 663228 |
| &nbsp;&nbsp;&nbsp;4.875%, (5 Year US CMT T-Note + 3.40%), due 8/12/73<sup>(a)</sup> | 150000 | 147148 |
| &nbsp;&nbsp;&nbsp;6.442%, (SOFR + 3.70%), due 8/11/28<sup>(a)</sup> | 550000 | 569221 |
| Westpac Banking Corp., (Australia) |  |  |
| &nbsp;&nbsp;&nbsp;3.020%, (5 Year US CMT T-Note + 1.53%), due 11/18/36<sup>(a)</sup> | 975000 | 854526 |
|  |  | 24687856 |
| **Biotechnology — 0.2%** |  |  |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;5.750%, due 3/2/63 | 725000 | 695566 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Building Materials — 0.5%** |  |  |
| EMRLD Borrower LP / Emerald Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;6.625%, due 12/15/30 | $375000 | $382353 |
| James Hardie International Finance DAC |  |  |
| &nbsp;&nbsp;5.000%, due 1/15/28 | 200000 | 198482 |
| Knife River Corp. |  |  |
| &nbsp;&nbsp;7.750%, due 5/1/31 | 400000 | 419706 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 3/1/32 | 315000 | 323062 |
| &nbsp;&nbsp;6.750%, due 3/1/33 | 85000 | 87178 |
|  |  | 1410781 |
| **Chemicals — 0.9%** |  |  |
| ASP Unifrax Holdings, Inc. |  |  |
| &nbsp;&nbsp;11.175%, due 9/30/29 | 103604 | 95316 |
| Celanese U.S. Holdings LLC |  |  |
| &nbsp;&nbsp;6.830%, due 7/15/29 | 50000 | 51938 |
| &nbsp;&nbsp;6.850%, due 11/15/28 | 100000 | 104103 |
| &nbsp;&nbsp;7.050%, due 11/15/30 | 100000 | 104142 |
| GPD Cos., Inc. |  |  |
| &nbsp;&nbsp;12.500%, due 12/31/29 | 125870 | 109507 |
| Huntsman International LLC |  |  |
| &nbsp;&nbsp;4.500%, due 5/1/29 | 865000 | 822140 |
| Innophos Holdings, Inc. |  |  |
| &nbsp;&nbsp;11.500%, due 6/15/29 | 280000 | 283438 |
| Inversion Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;6.750%, due 8/1/32 | 180000 | 177869 |
| Mativ Holdings, Inc. |  |  |
| &nbsp;&nbsp;8.000%, due 10/1/29 | 50000 | 45091 |
| NOVA Chemicals Corp., (Canada) |  |  |
| &nbsp;&nbsp;8.500%, due 11/15/28 | 300000 | 315049 |
| Olympus Water U.S. Holding Corp. |  |  |
| &nbsp;&nbsp;7.125%, due 10/1/27 | 200000 | 203100 |
| SK Invictus Intermediate II Sarl |  |  |
| &nbsp;&nbsp;5.000%, due 10/30/29 | 255000 | 247892 |
|  |  | 2559585 |
| **Coal — 0.1%** |  |  |
| Alliance Resource Operating Partners LP / Alliance Resource Finance Corp. |  |  |
| &nbsp;&nbsp;8.625%, due 6/15/29 | 150000 | 158513 |
| Coronado Finance Pty Ltd., (Australia) |  |  |
| &nbsp;&nbsp;9.250%, due 10/1/29 | 50000 | 38199 |
|  |  | 196712 |
| **Commercial Services — 0.9%** |  |  |
| Belron UK Finance PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;5.750%, due 10/15/29 | 115000 | 116079 |
| Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;3.875%, due 7/1/28 | 300000 | 286764 |
| &nbsp;&nbsp;4.875%, due 7/1/29 | 365000 | 341838 |
| Dcli Bidco LLC |  |  |
| &nbsp;&nbsp;7.750%, due 11/15/29 | 85000 | 86763 |
| Graham Holdings Co. |  |  |
| &nbsp;&nbsp;5.750%, due 6/1/26 | 475000 | 474765 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;7.000%, due 6/15/30 | 465000 | 480594 |
| NES Fircroft Bondco A/S, (United Kingdom) |  |  |
| &nbsp;&nbsp;8.000%, due 9/30/29 | 125000 | 124637 |
| NESCO Holdings II, Inc. |  |  |
| &nbsp;&nbsp;5.500%, due 4/15/29 | 150000 | 146251 |
| OT Midco, Inc. |  |  |
| &nbsp;&nbsp;10.000%, due 2/15/30 | 135000 | 110022 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Commercial Services (continued)** |  |  |
| TriNet Group, Inc. |  |  |
| &nbsp;&nbsp;3.500%, due 3/1/29 | $200000 | $186021 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;3.875%, due 2/15/31 | 100000 | 93306 |
| Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 8/15/28 | 150000 | 147560 |
| &nbsp;&nbsp;6.625%, due 4/15/30 | 50000 | 51555 |
|  |  | 2646155 |
| **Computers — 0.2%** |  |  |
| CACI International, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 6/15/33 | 75000 | 76690 |
| Dell International LLC / EMC Corp. |  |  |
| &nbsp;&nbsp;3.375%, due 12/15/41 | 440000 | 329953 |
| Insight Enterprises, Inc. |  |  |
| &nbsp;&nbsp;6.625%, due 5/15/32 | 165000 | 168733 |
| McAfee Corp. |  |  |
| &nbsp;&nbsp;7.375%, due 2/15/30 | 125000 | 115899 |
|  |  | 691275 |
| **Cosmetics/Personal Care — 0.8%** |  |  |
| Coty, Inc. /HFC Prestige Products, Inc./HFC Prestige International U.S. LLC |  |  |
| &nbsp;&nbsp;4.750%, due 1/15/29 | 1420000 | 1392517 |
| Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;5.500%, due 6/1/28 | 450000 | 446616 |
| Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;Series USD, 6.125%, due 9/30/32 | 100000 | 101047 |
| Prestige Brands, Inc. |  |  |
| &nbsp;&nbsp;3.750%, due 4/1/31 | 200000 | 183021 |
| &nbsp;&nbsp;5.125%, due 1/15/28 | 75000 | 74375 |
|  |  | 2197576 |
| **Distribution/Wholesale — 0.3%** |  |  |
| Gates Corp. |  |  |
| &nbsp;&nbsp;6.875%, due 7/1/29 | 200000 | 205816 |
| RB Global Holdings Inc, (Canada) |  |  |
| &nbsp;&nbsp;7.750%, due 3/15/31 | 500000 | 523996 |
| Velocity Vehicle Group LLC |  |  |
| &nbsp;&nbsp;8.000%, due 6/1/29 | 85000 | 86005 |
|  |  | 815817 |
| **Diversified Financial Services — 3.5%** |  |  |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland) |  |  |
| &nbsp;&nbsp;3.000%, due 10/29/28 | 200000 | 190337 |
| AG Issuer LLC |  |  |
| &nbsp;&nbsp;6.250%, due 3/1/28 | 300000 | 299683 |
| Aircastle Ltd. / Aircastle Ireland DAC |  |  |
| &nbsp;&nbsp;5.000%, due 9/15/30 | 525000 | 524049 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.548%, (SOFR + 1.78%), due 7/31/33<sup>(a)</sup> | 630000 | 630874 |
| &nbsp;&nbsp;&nbsp;6.992%, (SOFR + 3.26%), due 6/13/29<sup>(a)</sup> | 465000 | 488949 |
| Aretec Group, Inc. |  |  |
| &nbsp;&nbsp;7.500%, due 4/1/29 | 125000 | 125004 |
| Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;1.950%, due 1/30/26 | 965000 | 951486 |
| Avolon Holdings Funding Ltd., (Ireland) |  |  |
| &nbsp;&nbsp;2.125%, due 2/21/26 | 615000 | 605345 |
| &nbsp;&nbsp;5.750%, due 11/15/29 | 890000 | 916196 |
| Cantor Fitzgerald LP |  |  |
| &nbsp;&nbsp;7.200%, due 12/12/28 | 490000 | 520506 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.312%, (SOFR + 2.64%), due 6/8/29<sup>(a)</sup> | 775000 | 809638 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Diversified Financial Services (continued)** |  |  |
| Jane Street Group / JSG Finance, Inc. |  |  |
| &nbsp;&nbsp;6.125%, due 11/1/32 | $200000 | $198433 |
| &nbsp;&nbsp;6.750%, due 5/1/33 | 60000 | 61403 |
| &nbsp;&nbsp;7.125%, due 4/30/31 | 550000 | 568054 |
| Macquarie Airfinance Holdings Ltd., (United Kingdom) |  |  |
| &nbsp;&nbsp;6.400%, due 3/26/29 | 850000 | 883655 |
| Osaic Holdings, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 8/1/32 | 100000 | 101206 |
| &nbsp;&nbsp;8.000%, due 8/1/33 | 40000 | 40648 |
| PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;4.250%, due 2/15/29 | 250000 | 239440 |
| &nbsp;&nbsp;5.750%, due 9/15/31 | 100000 | 97848 |
| Planet Financial Group LLC |  |  |
| &nbsp;&nbsp;10.500%, due 12/15/29 | 150000 | 153059 |
| Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;6.125%, due 8/1/30 | 130000 | 131814 |
| &nbsp;&nbsp;6.375%, due 8/1/33 | 95000 | 96898 |
| Stonex Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;6.875%, due 7/15/32 | 155000 | 157784 |
| StoneX Group, Inc. |  |  |
| &nbsp;&nbsp;7.875%, due 3/1/31 | 375000 | 393955 |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;5.450%, (SOFR + 1.68%), due 3/6/31<sup>(a)</sup> | 850000 | 855913 |
|  |  | 10042177 |
| **Electric — 3.9%** |  |  |
| AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;3.450%, due 5/15/51 | 745000 | 497898 |
| Algonquin Power & Utilities Corp., (Canada) |  |  |
| &nbsp;&nbsp;5.365%, due 6/15/26 | 950000 | 955037 |
| Alpha Generation LLC |  |  |
| &nbsp;&nbsp;6.750%, due 10/15/32 | 225000 | 230248 |
| Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;5.700%, due 8/15/34 | 575000 | 593731 |
| &nbsp;&nbsp;6.350%, due 12/15/32 | 665000 | 714213 |
| Baltimore Gas and Electric Co. |  |  |
| &nbsp;&nbsp;4.550%, due 6/1/52 | 720000 | 606149 |
| Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;4.750%, due 3/15/28 | 425000 | 417867 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, due 3/15/32<sup>(e)</sup> | 850000 | 814350 |
| &nbsp;&nbsp;&nbsp;7.875%, (5 Year US CMT T-Note + 3.66%), due 6/15/54<sup>(a)</sup> | 470000 | 450497 |
| &nbsp;&nbsp;&nbsp;Series A, 5.375%, (5 Year US CMT T-Note + 4.70%), due 9/15/73<sup>(a)</sup> | 50000 | 47544 |
| Electricite de France SA, (France) |  |  |
| &nbsp;&nbsp;&nbsp;9.125%, (5 Year US CMT T-Note + 5.41%), due 12/15/73<sup>(a)</sup> | 40000 | 45835 |
| Evergy Kansas Central, Inc. |  |  |
| &nbsp;&nbsp;5.250%, due 3/15/35 | 1250000 | 1257902 |
| Indianapolis Power & Light Co. |  |  |
| &nbsp;&nbsp;5.650%, due 12/1/32 | 370000 | 379025 |
| Lightning Power LLC |  |  |
| &nbsp;&nbsp;7.250%, due 8/15/32 | 400000 | 418187 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;5.750%, due 1/15/28 | 100000 | 100306 |
| &nbsp;&nbsp;6.000%, due 2/1/33 | 250000 | 250678 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, (5 Year US CMT T-Note + 3.32%), due 9/15/55<sup>(a)</sup> | 470000 | 481167 |
| Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;4.224%, due 3/15/32 | 855000 | 804834 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Electric (continued)** |  |  |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;5.700%, due 3/1/53 | $270000 | $244490 |
| TransAlta Corp., (Canada) |  |  |
| &nbsp;&nbsp;7.750%, due 11/15/29 | 110000 | 114614 |
| Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;Series C, 4.625%, due 5/15/52 | 500000 | 422181 |
| Vistra Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.000%, (5 Year US CMT T-Note + 6.93%), due 4/15/74<sup>(a)</sup> | 200000 | 204143 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;5.500%, due 9/1/26 | 350000 | 349811 |
| &nbsp;&nbsp;5.625%, due 2/15/27 | 500000 | 499425 |
| XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;3.875%, due 10/15/26 | 100000 | 97601 |
| &nbsp;&nbsp;4.500%, due 9/15/27 | 50000 | 48404 |
| &nbsp;&nbsp;7.250%, due 1/15/29 | 100000 | 101980 |
| &nbsp;&nbsp;8.375%, due 1/15/31 | 90000 | 94401 |
| &nbsp;&nbsp;&nbsp;8.625%, due 3/15/33<sup>(e)</sup> | 75000 | 79438 |
|  |  | 11321956 |
| **Electrical Components & Equipment — 0.1%** |  |  |
| EnerSys |  |  |
| &nbsp;&nbsp;6.625%, due 1/15/32 | 100000 | 102766 |
| WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 3/15/33 | 40000 | 40950 |
|  |  | 143716 |
| **Electronics — 0.1%** |  |  |
| Sensata Technologies BV |  |  |
| &nbsp;&nbsp;5.875%, due 9/1/30 | 350000 | 350282 |
| **Engineering & Construction — 0.3%** |  |  |
| AECOM |  |  |
| &nbsp;&nbsp;6.000%, due 8/1/33 | 120000 | 120976 |
| Arcosa, Inc. |  |  |
| &nbsp;&nbsp;4.375%, due 4/15/29 | 425000 | 409974 |
| Artera Services LLC |  |  |
| &nbsp;&nbsp;8.500%, due 2/15/31 | 100000 | 82814 |
| Great Lakes Dredge & Dock Corp. |  |  |
| &nbsp;&nbsp;5.250%, due 6/1/29 | 85000 | 80512 |
| TopBuild Corp. |  |  |
| &nbsp;&nbsp;3.625%, due 3/15/29 | 125000 | 117783 |
| Weekley Homes LLC / Weekley Finance Corp. |  |  |
| &nbsp;&nbsp;4.875%, due 9/15/28 | 150000 | 144337 |
|  |  | 956396 |
| **Entertainment — 0.9%** |  |  |
| Boyne USA, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 5/15/29 | 250000 | 242264 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 10/15/29 | 75000 | 70877 |
| &nbsp;&nbsp;&nbsp;6.000%, due 10/15/32<sup>(e)</sup> | 150000 | 144778 |
| Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;5.500%, due 4/1/27 | 375000 | 374501 |
| &nbsp;&nbsp;&nbsp;5.750%, due 4/1/30<sup>(e)</sup> | 375000 | 374074 |
| Jacobs Entertainment, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 2/15/29 | 160000 | 156000 |
| Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;7.500%, due 9/1/31 | 200000 | 208457 |
| Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 10/15/27 | 500000 | 492271 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Entertainment (continued)** |  |  |
| Motion Bondco DAC, (United Kingdom) |  |  |
| &nbsp;&nbsp;6.625%, due 11/15/27 | $200000 | $189763 |
| Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp. |  |  |
| &nbsp;&nbsp;6.625%, due 2/1/33 | 100000 | 100963 |
| Voyager Parent LLC |  |  |
| &nbsp;&nbsp;9.250%, due 7/1/32 | 130000 | 137520 |
|  |  | 2491468 |
| **Environmental Control — 0.0%<sup>(b)</sup>** |  |  |
| Waste Pro USA, Inc. |  |  |
| &nbsp;&nbsp;7.000%, due 2/1/33 | 50000 | 51878 |
| **Food — 1.1%** |  |  |
| Chobani Holdco II LLC |  |  |
| &nbsp;&nbsp;8.750%, due 10/1/29 | 208391 | 223516 |
| MARB BondCo PLC, (Brazil) |  |  |
| &nbsp;&nbsp;3.950%, due 1/29/31 | 1010000 | 896239 |
| Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;4.250%, due 8/1/29 | 250000 | 240359 |
| &nbsp;&nbsp;5.500%, due 10/15/27 | 200000 | 199692 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;5.500%, due 12/15/29 | 275000 | 272616 |
| Simmons Foods Inc/Simmons Prepared Foods, Inc. /Simmons Pet Food, Inc./Simmons Feed |  |  |
| &nbsp;&nbsp;4.625%, due 3/1/29 | 300000 | 283895 |
| Smithfield Foods, Inc. |  |  |
| &nbsp;&nbsp;3.000%, due 10/15/30 | 170000 | 154747 |
| &nbsp;&nbsp;4.250%, due 2/1/27 | 715000 | 705999 |
| United Natural Foods, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 10/15/28 | 125000 | 124472 |
|  |  | 3101535 |
| **Forest Products & Paper — 0.1%** |  |  |
| Mercer International, Inc., (Germany) |  |  |
| &nbsp;&nbsp;5.125%, due 2/1/29 | 480000 | 386660 |
| **Gas — 1.1%** |  |  |
| AltaGas Ltd., (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;7.200%, (5 Year US CMT T-Note + 3.57%), due 10/15/54<sup>(a)</sup> | 100000 | 100766 |
| Boston Gas Co. |  |  |
| &nbsp;&nbsp;3.757%, due 3/16/32 | 275000 | 254239 |
| Brooklyn Union Gas Co. (The) |  |  |
| &nbsp;&nbsp;4.866%, due 8/5/32 | 910000 | 877210 |
| &nbsp;&nbsp;6.388%, due 9/15/33 | 225000 | 238447 |
| National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;5.950%, due 3/15/35 | 1155000 | 1182849 |
| Southern California Gas Co. |  |  |
| &nbsp;&nbsp;6.000%, due 6/15/55 | 605000 | 615475 |
|  |  | 3268986 |
| **Healthcare-Products — 0.2%** |  |  |
| Hologic, Inc. |  |  |
| &nbsp;&nbsp;3.250%, due 2/15/29 | 150000 | 142044 |
| Neogen Food Safety Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 7/20/30<sup>(e)</sup> | 90000 | 90957 |
| Varex Imaging Corp. |  |  |
| &nbsp;&nbsp;7.875%, due 10/15/27 | 350000 | 355097 |
|  |  | 588098 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Healthcare-Services — 0.6%** |  |  |
| Acadia Healthcare Co., Inc. |  |  |
| &nbsp;&nbsp;5.000%, due 4/15/29 | $125000 | $120786 |
| CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;9.750%, due 1/15/34 | 45000 | 45287 |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 6/1/30 | 75000 | 71520 |
| Encompass Health Corp. |  |  |
| &nbsp;&nbsp;4.625%, due 4/1/31 | 100000 | 95509 |
| Fortrea Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, due 7/1/30<sup>(e)</sup> | 40000 | 36572 |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 6/1/32 | 195000 | 199964 |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;5.375%, due 1/15/29 | 110000 | 103400 |
| &nbsp;&nbsp;8.375%, due 2/15/32 | 110000 | 117028 |
| &nbsp;&nbsp;10.000%, due 6/1/32 | 155000 | 160911 |
| &nbsp;&nbsp;11.000%, due 10/15/30 | 250000 | 274774 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;6.125%, due 6/15/30 | 400000 | 403612 |
|  |  | 1629363 |
| **Holding Companies-Divers — 0.3%** |  |  |
| Clue Opco LLC |  |  |
| &nbsp;&nbsp;9.500%, due 10/15/31 | 185000 | 196169 |
| Stena International SA, (Sweden) |  |  |
| &nbsp;&nbsp;7.625%, due 2/15/31 | 750000 | 770836 |
|  |  | 967005 |
| **Home Builders — 0.2%** |  |  |
| Installed Building Products, Inc. |  |  |
| &nbsp;&nbsp;5.750%, due 2/1/28 | 200000 | 199446 |
| Shea Homes LP / Shea Homes Funding Corp. |  |  |
| &nbsp;&nbsp;4.750%, due 2/15/28 | 75000 | 73204 |
| STL Holding Co. LLC |  |  |
| &nbsp;&nbsp;8.750%, due 2/15/29 | 65000 | 67485 |
| Winnebago Industries, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 7/15/28 | 118000 | 117164 |
|  |  | 457299 |
| **Household Products/Wares — 0.2%** |  |  |
| Central Garden & Pet Co. |  |  |
| &nbsp;&nbsp;5.125%, due 2/1/28 | 450000 | 448061 |
| **Housewares — 0.2%** |  |  |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 5/15/30 | 100000 | 96904 |
| &nbsp;&nbsp;6.625%, due 5/15/32 | 115000 | 109978 |
| &nbsp;&nbsp;8.500%, due 6/1/28 | 75000 | 78590 |
| Scotts Miracle-Gro Co. (The) |  |  |
| &nbsp;&nbsp;4.000%, due 4/1/31 | 150000 | 136931 |
| &nbsp;&nbsp;4.375%, due 2/1/32 | 250000 | 227145 |
|  |  | 649548 |
| **Insurance — 0.4%** |  |  |
| Belrose Funding Trust II |  |  |
| &nbsp;&nbsp;6.792%, due 5/15/55 | 650000 | 665039 |
| HUB International Ltd. |  |  |
| &nbsp;&nbsp;7.250%, due 6/15/30 | 150000 | 156365 |
| MGIC Investment Corp. |  |  |
| &nbsp;&nbsp;5.250%, due 8/15/28 | 200000 | 199544 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;5.875%, due 8/1/32 | 200000 | 200553 |
|  |  | 1221501 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Internet — 0.2%** |  |  |
| Cars.com, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 11/1/28 | $185000 | $184616 |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 9/30/27 | 55000 | 55904 |
| Go Daddy Operating Co LLC / GD Finance Co., Inc. |  |  |
| &nbsp;&nbsp;5.250%, due 12/1/27 | 450000 | 448325 |
|  |  | 688845 |
| **Investment Companies — 0.1%** |  |  |
| Ares Capital Corp. |  |  |
| &nbsp;&nbsp;5.500%, due 9/1/30 | 75000 | 74866 |
| Compass Group Diversified Holdings LLC |  |  |
| &nbsp;&nbsp;5.250%, due 4/15/29 | 130000 | 120767 |
|  |  | 195633 |
| **Iron/Steel — 0.3%** |  |  |
| Mineral Resources Ltd., (Australia) |  |  |
| &nbsp;&nbsp;8.125%, due 5/1/27 | 100000 | 100294 |
| &nbsp;&nbsp;8.500%, due 5/1/30 | 450000 | 460637 |
| &nbsp;&nbsp;9.250%, due 10/1/28 | 250000 | 261288 |
| Samarco Mineracao SA, (Brazil) |  |  |
| &nbsp;&nbsp;9.500%, due 6/30/31 | 100000 | 99036 |
|  |  | 921255 |
| **Leisure Time — 0.1%** |  |  |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;5.750%, due 8/1/32 | 150000 | 151015 |
| MajorDrive Holdings IV LLC |  |  |
| &nbsp;&nbsp;6.375%, due 6/1/29 | 75000 | 61865 |
|  |  | 212880 |
| **Lodging — 0.7%** |  |  |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;3.625%, due 2/15/32 | 100000 | 90163 |
| &nbsp;&nbsp;4.875%, due 1/15/30 | 500000 | 493135 |
| &nbsp;&nbsp;5.750%, due 9/15/33 | 100000 | 100095 |
| Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;5.250%, due 6/30/29 | 885000 | 900465 |
| Studio City Finance Ltd., (Macau) |  |  |
| &nbsp;&nbsp;5.000%, due 1/15/29 | 490000 | 453013 |
|  |  | 2036871 |
| **Machinery-Diversified — 0.2%** |  |  |
| Maxim Crane Works Holdings Capital LLC |  |  |
| &nbsp;&nbsp;11.500%, due 9/1/28 | 135000 | 143039 |
| Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;6.400%, due 4/15/33 | 75000 | 79279 |
| TK Elevator U.S. Newco, Inc., (Germany) |  |  |
| &nbsp;&nbsp;5.250%, due 7/15/27 | 400000 | 398211 |
|  |  | 620529 |
| **Media — 1.5%** |  |  |
| Cable One, Inc. |  |  |
| &nbsp;&nbsp;1.125%, due 3/15/28 | 100000 | 77100 |
| &nbsp;&nbsp;&nbsp;7.660%, due 3/15/26<sup>(f)</sup> | 200000 | 190900 |
| CCO Holdings LLC / CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;4.500%, due 5/1/32 | 585000 | 530808 |
| &nbsp;&nbsp;5.000%, due 2/1/28 | 200000 | 196256 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;5.500%, due 4/15/27 | 350000 | 338771 |
| &nbsp;&nbsp;5.750%, due 1/15/30 | 200000 | 98608 |
| Discovery Communications LLC |  |  |
| &nbsp;&nbsp;3.625%, due 5/15/30 | 70000 | 62007 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Media (continued)** |  |  |
| Gray Media, Inc. |  |  |
| &nbsp;&nbsp;7.250%, due 8/15/33 | $50000 | $49737 |
| &nbsp;&nbsp;9.625%, due 7/15/32 | 105000 | 105921 |
| &nbsp;&nbsp;&nbsp;10.500%, due 7/15/29<sup>(e)</sup> | 40000 | 43288 |
| LCPR Senior Secured Financing DAC, (Puerto Rico) |  |  |
| &nbsp;&nbsp;5.125%, due 7/15/29 | 200000 | 135947 |
| &nbsp;&nbsp;6.750%, due 10/15/27 | 200000 | 153500 |
| News Corp. |  |  |
| &nbsp;&nbsp;5.125%, due 2/15/32 | 300000 | 292394 |
| Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, due 11/1/28<sup>(e)</sup> | 50000 | 48597 |
| Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;8.125%, due 2/15/33 | 125000 | 127501 |
| Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;5.000%, due 8/1/27 | 400000 | 395649 |
| Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;6.750%, due 6/15/39 | 635000 | 650816 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;9.375%, due 8/1/32 | 60000 | 62256 |
| Virgin Media Secured Finance PLC, (United Kingdom) |  |  |
| &nbsp;&nbsp;5.500%, due 5/15/29 | 200000 | 195510 |
| Virgin Media Vendor Financing Notes IV DAC, (United Kingdom) |  |  |
| &nbsp;&nbsp;5.000%, due 7/15/28 | 235000 | 227902 |
| Ziggo BV, (Netherlands) |  |  |
| &nbsp;&nbsp;4.875%, due 1/15/30 | 275000 | 254037 |
|  |  | 4237505 |
| **Metal Fabricate/Hardware — 0.2%** |  |  |
| Advanced Drainage Systems, Inc. |  |  |
| &nbsp;&nbsp;6.375%, due 6/15/30 | 300000 | 304533 |
| Park-Ohio Industries, Inc. |  |  |
| &nbsp;&nbsp;8.500%, due 8/1/30 | 65000 | 62401 |
| Vallourec SACA, (France) |  |  |
| &nbsp;&nbsp;7.500%, due 4/15/32 | 200000 | 211737 |
|  |  | 578671 |
| **Mining — 0.8%** |  |  |
| Century Aluminum Co. |  |  |
| &nbsp;&nbsp;6.875%, due 8/1/32 | 100000 | 101037 |
| &nbsp;&nbsp;7.500%, due 4/1/28 | 400000 | 407393 |
| Compass Minerals International, Inc. |  |  |
| &nbsp;&nbsp;8.000%, due 7/1/30 | 85000 | 88063 |
| Eldorado Gold Corp., (Turkey) |  |  |
| &nbsp;&nbsp;6.250%, due 9/1/29 | 50000 | 49963 |
| First Quantum Minerals Ltd., (Zambia) |  |  |
| &nbsp;&nbsp;9.375%, due 3/1/29 | 300000 | 317913 |
| IAMGOLD Corp., (Burkina Faso) |  |  |
| &nbsp;&nbsp;5.750%, due 10/15/28 | 250000 | 247245 |
| Vedanta Resources Finance II PLC, (India) |  |  |
| &nbsp;&nbsp;10.875%, due 9/17/29 | 390000 | 398526 |
| WE Soda Investments Holding PLC, (Turkey) |  |  |
| &nbsp;&nbsp;9.375%, due 2/14/31 | 765000 | 801085 |
|  |  | 2411225 |
| **Miscellaneous Manufacturing — 0.2%** |  |  |
| Amsted Industries, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 5/15/30 | 50000 | 47885 |
| &nbsp;&nbsp;6.375%, due 3/15/33 | 60000 | 60957 |
| Calderys Financing II LLC |  |  |
| &nbsp;&nbsp;11.750%, due 6/1/28 | 200000 | 206085 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Miscellaneous Manufacturing (continued)** |  |  |
| Calderys Financing LLC, (France) |  |  |
| &nbsp;&nbsp;11.250%, due 6/1/28 | $100000 | $105653 |
| Enpro, Inc. |  |  |
| &nbsp;&nbsp;6.125%, due 6/1/33 | 40000 | 40355 |
| LSB Industries, Inc. |  |  |
| &nbsp;&nbsp;6.250%, due 10/15/28 | 100000 | 98303 |
|  |  | 559238 |
| **Oil & Gas — 1.6%** |  |  |
| Diamond Foreign Asset Co. / Diamond Finance LLC |  |  |
| &nbsp;&nbsp;8.500%, due 10/1/30 | 200000 | 208449 |
| Encino Acquisition Partners Holdings LLC |  |  |
| &nbsp;&nbsp;8.500%, due 5/1/28 | 315000 | 321694 |
| Energean Israel Finance Ltd., (Israel) |  |  |
| &nbsp;&nbsp;5.375%, due 3/30/28 | 95000 | 91255 |
| Gulfport Energy Operating Corp. |  |  |
| &nbsp;&nbsp;6.750%, due 9/1/29 | 200000 | 203252 |
| Hilcorp Energy I LP / Hilcorp Finance Co. |  |  |
| &nbsp;&nbsp;6.000%, due 2/1/31 | 300000 | 288982 |
| Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 4/15/28<sup>(e)</sup> | 150000 | 152456 |
| Moss Creek Resources Holdings, Inc. |  |  |
| &nbsp;&nbsp;8.250%, due 9/1/31 | 325000 | 317246 |
| NewCo Holding USD 20 SARL, (Brazil) |  |  |
| &nbsp;&nbsp;&nbsp;9.375%, due 11/7/29<sup>(e)</sup> | 200000 | 204874 |
| Noble Finance II LLC |  |  |
| &nbsp;&nbsp;8.000%, due 4/15/30 | 200000 | 203993 |
| Parkland Corp., (Canada) |  |  |
| &nbsp;&nbsp;4.625%, due 5/1/30 | 500000 | 479487 |
| PBF Holding Co. LLC / PBF Finance Corp. |  |  |
| &nbsp;&nbsp;9.875%, due 3/15/30 | 55000 | 54516 |
| Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;5.875%, due 7/1/29 | 450000 | 450275 |
| Range Resources Corp. |  |  |
| &nbsp;&nbsp;4.750%, due 2/15/30 | 150000 | 145810 |
| Rockcliff Energy II LLC |  |  |
| &nbsp;&nbsp;5.500%, due 10/15/29 | 250000 | 243529 |
| Seadrill Finance Ltd., (Norway) |  |  |
| &nbsp;&nbsp;8.375%, due 8/1/30 | 100000 | 102150 |
| SM Energy Co. |  |  |
| &nbsp;&nbsp;6.750%, due 8/1/29 | 100000 | 100079 |
| Talos Production, Inc. |  |  |
| &nbsp;&nbsp;9.000%, due 2/1/29 | 140000 | 143486 |
| &nbsp;&nbsp;9.375%, due 2/1/31 | 360000 | 367097 |
| Transocean Poseidon Ltd. |  |  |
| &nbsp;&nbsp;6.875%, due 2/1/27 | 78750 | 78693 |
| Transocean Titan Financing Ltd. |  |  |
| &nbsp;&nbsp;8.375%, due 2/1/28 | 90476 | 92724 |
| Transocean, Inc. |  |  |
| &nbsp;&nbsp;8.750%, due 2/15/30 | 200000 | 207354 |
| Vital Energy, Inc. |  |  |
| &nbsp;&nbsp;7.750%, due 7/31/29 | 50000 | 45495 |
| &nbsp;&nbsp;7.875%, due 4/15/32 | 90000 | 78994 |
| Wildfire Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;7.500%, due 10/15/29 | 100000 | 99504 |
|  |  | 4681394 |
| **Oil & Gas Services — 0.1%** |  |  |
| Bristow Group, Inc. |  |  |
| &nbsp;&nbsp;6.875%, due 3/1/28 | 130000 | 130308 |
| Nine Energy Service, Inc. |  |  |
| &nbsp;&nbsp;13.000%, due 2/1/28 | 110000 | 51942 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Oil & Gas Services (continued)** |  |  |
| Tidewater, Inc. |  |  |
| &nbsp;&nbsp;9.125%, due 7/15/30 | $125000 | $131099 |
|  |  | 313349 |
| **Packaging & Containers — 0.2%** |  |  |
| Berry Global, Inc. |  |  |
| &nbsp;&nbsp;4.875%, due 7/15/26 | 352000 | 351524 |
| Sealed Air Corp/Sealed Air Corp. U.S. |  |  |
| &nbsp;&nbsp;6.125%, due 2/1/28 | 100000 | 100956 |
|  |  | 452480 |
| **Pharmaceuticals — 0.9%** |  |  |
| 1261229 BC Ltd. |  |  |
| &nbsp;&nbsp;10.000%, due 4/15/32 | 70000 | 71266 |
| Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;11.000%, due 9/30/28 | 200000 | 205500 |
| BellRing Brands, Inc. |  |  |
| &nbsp;&nbsp;7.000%, due 3/15/30 | 200000 | 207483 |
| CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;5.926%, due 1/10/34 | 108482 | 109326 |
| Endo Finance Holdings, Inc. |  |  |
| &nbsp;&nbsp;8.500%, due 4/15/31 | 225000 | 239362 |
| Jazz Securities DAC |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, due 1/15/29<sup>(e)</sup> | 950000 | 919008 |
| Organon & Co / Organon Foreign Debt Co.-Issuer BV |  |  |
| &nbsp;&nbsp;4.125%, due 4/30/28 | 550000 | 520580 |
| &nbsp;&nbsp;5.125%, due 4/30/31 | 200000 | 173023 |
|  |  | 2445548 |
| **Pipelines — 2.0%** |  |  |
| Antero Midstream Partners LP / Antero Midstream Finance Corp. |  |  |
| &nbsp;&nbsp;5.750%, due 1/15/28 | 300000 | 299538 |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;6.750%, due 2/1/30 | 45000 | 46586 |
| &nbsp;&nbsp;6.875%, due 7/1/29 | 250000 | 257348 |
| Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;5.962%, due 2/15/55 | 1040000 | 998467 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;4.300%, due 4/15/32 | 605000 | 565859 |
| &nbsp;&nbsp;4.375%, due 6/15/31 | 100000 | 95180 |
| Excelerate Energy LP |  |  |
| &nbsp;&nbsp;8.000%, due 5/15/30 | 150000 | 157028 |
| Flex Intermediate Holdco LLC |  |  |
| &nbsp;&nbsp;3.363%, due 6/30/31 | 635000 | 570140 |
| Global Partners LP / GLP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 1/15/29<sup>(e)</sup> | 150000 | 151538 |
| &nbsp;&nbsp;7.125%, due 7/1/33 | 25000 | 25388 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;5.500%, due 10/15/30 | 300000 | 301305 |
| ITT Holdings LLC |  |  |
| &nbsp;&nbsp;6.500%, due 8/1/29 | 180000 | 171452 |
| Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;Series B, 8.698%, (3 Month CME SOFR + 4.37%), due 11/15/73<sup>(a)</sup> | 550000 | 550311 |
| Prairie Acquiror LP |  |  |
| &nbsp;&nbsp;9.000%, due 8/1/29 | 75000 | 77684 |
| South Bow Canadian Infrastructure Holdings Ltd., (Canada) |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, (5 Year US CMT T-Note + 3.95%), due 3/1/55<sup>(a)</sup> | 100000 | 103279 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. |  |  |
| &nbsp;&nbsp;5.500%, due 1/15/28 | 600000 | 594612 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Pipelines (continued)** |  |  |
| TransMontaigne Partners LLC |  |  |
| &nbsp;&nbsp;8.500%, due 6/15/30 | $90000 | $94080 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;8.375%, due 6/1/31 | 60000 | 62061 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;6.500%, due 1/15/34 | 85000 | 87444 |
| &nbsp;&nbsp;6.750%, due 1/15/36 | 50000 | 51435 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;5.250%, due 2/1/50 | 680000 | 570520 |
|  |  | 5831255 |
| **Real Estate — 0.1%** |  |  |
| Alpha Star Holding IX Ltd., (United Arab Emirates) |  |  |
| &nbsp;&nbsp;7.000%, due 8/26/28 | 200000 | 204409 |
| **REITS — 1.3%** |  |  |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;2.375%, due 7/15/31 | 905000 | 786004 |
| Blackstone Mortgage Trust, Inc. |  |  |
| &nbsp;&nbsp;7.750%, due 12/1/29 | 50000 | 52854 |
| GLP Capital LP / GLP Financing II, Inc. |  |  |
| &nbsp;&nbsp;4.000%, due 1/15/30 | 930000 | 889521 |
| Invitation Homes Operating Partnership LP |  |  |
| &nbsp;&nbsp;2.000%, due 8/15/31 | 585000 | 496580 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;5.250%, due 3/15/28 | 75000 | 74618 |
| MPT Operating Partnership LP / MPT Finance Corp. |  |  |
| &nbsp;&nbsp;5.000%, due 10/15/27 | 100000 | 91740 |
| &nbsp;&nbsp;8.500%, due 2/15/32 | 100000 | 103941 |
| RHP Hotel Properties LP / RHP Finance Corp. |  |  |
| &nbsp;&nbsp;4.500%, due 2/15/29 | 250000 | 243135 |
| &nbsp;&nbsp;&nbsp;6.500%, due 4/1/32<sup>(e)</sup> | 50000 | 51058 |
| &nbsp;&nbsp;6.500%, due 6/15/33 | 55000 | 56324 |
| &nbsp;&nbsp;7.250%, due 7/15/28 | 100000 | 103124 |
| Trust Fibra Uno, (Mexico) |  |  |
| &nbsp;&nbsp;7.375%, due 2/13/34 | 200000 | 207009 |
| Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC |  |  |
| &nbsp;&nbsp;4.750%, due 4/15/28 | 200000 | 193823 |
| &nbsp;&nbsp;6.500%, due 2/15/29 | 135000 | 131331 |
| &nbsp;&nbsp;10.500%, due 2/15/28 | 236000 | 249424 |
|  |  | 3730486 |
| **Retail — 1.3%** |  |  |
| 1011778 BC ULC / New Red Finance, Inc., (Canada) |  |  |
| &nbsp;&nbsp;3.875%, due 1/15/28 | 100000 | 96454 |
| &nbsp;&nbsp;4.000%, due 10/15/30 | 500000 | 463256 |
| &nbsp;&nbsp;6.125%, due 6/15/29 | 100000 | 102207 |
| Arcos Dorados BV, (Brazil) |  |  |
| &nbsp;&nbsp;6.375%, due 1/29/32 | 820000 | 844600 |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 3/1/30 | 250000 | 240105 |
| &nbsp;&nbsp;5.000%, due 2/15/32 | 100000 | 94590 |
| AutoNation, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 6/1/30 | 313000 | 310230 |
| Beacon Roofing Supply, Inc. |  |  |
| &nbsp;&nbsp;6.750%, due 4/30/32 | 80000 | 82382 |
| LCM Investments Holdings II LLC |  |  |
| &nbsp;&nbsp;4.875%, due 5/1/29 | 365000 | 354715 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Retail (continued)** |  |  |
| Papa John's International, Inc. |  |  |
| &nbsp;&nbsp;3.875%, due 9/15/29 | $100000 | $95188 |
| Patrick Industries, Inc. |  |  |
| &nbsp;&nbsp;4.750%, due 5/1/29 | 50000 | 48413 |
| PetSmart, Inc. / PetSmart Finance Corp. |  |  |
| &nbsp;&nbsp;7.750%, due 2/15/29 | 200000 | 195716 |
| Saks Global Enterprises LLC |  |  |
| &nbsp;&nbsp;11.000%, due 12/15/29 | 385000 | 86625 |
| SGUS LLC |  |  |
| &nbsp;&nbsp;11.000%, due 12/15/29 | 112315 | 104957 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;4.625%, due 1/31/32 | 400000 | 382917 |
| &nbsp;&nbsp;5.375%, due 4/1/32 | 100000 | 99459 |
|  |  | 3601814 |
| **Savings & Loans — 0.3%** |  |  |
| Nationwide Building Society, (United Kingdom) |  |  |
| &nbsp;&nbsp;&nbsp;2.972%, (SOFR + 1.29%), due 2/16/28<sup>(a)</sup> | 960000 | 935664 |
| **Software — 0.8%** |  |  |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;6.500%, due 3/31/29 | 500000 | 504942 |
| &nbsp;&nbsp;9.000%, due 9/30/29 | 75000 | 77615 |
| Open Text Holdings, Inc., (Canada) |  |  |
| &nbsp;&nbsp;4.125%, due 2/15/30 | 475000 | 445221 |
| PTC, Inc. |  |  |
| &nbsp;&nbsp;4.000%, due 2/15/28 | 100000 | 97439 |
| SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;5.500%, due 9/30/27 | 500000 | 500109 |
| &nbsp;&nbsp;6.500%, due 6/1/32 | 300000 | 308471 |
| UKG, Inc. |  |  |
| &nbsp;&nbsp;6.875%, due 2/1/31 | 450000 | 461999 |
|  |  | 2395796 |
| **Sovereign & Agency — 0.3%** |  |  |
| Eagle Funding Luxco SARL, (Mexico) |  |  |
| &nbsp;&nbsp;5.500%, due 8/17/30 | 885000 | 888983 |
| **Telecommunications — 0.5%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;3.500%, due 9/15/53 | 585000 | 394110 |
| EchoStar Corp. |  |  |
| &nbsp;&nbsp;6.750%, due 11/30/30 | 72599 | 68787 |
| &nbsp;&nbsp;10.750%, due 11/30/29 | 85000 | 89569 |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;5.875%, due 10/15/27 | 300000 | 300054 |
| Iliad Holding SASU, (France) |  |  |
| &nbsp;&nbsp;8.500%, due 4/15/31 | 215000 | 230627 |
| Windstream Services LLC / Windstream Escrow Finance Corp. |  |  |
| &nbsp;&nbsp;8.250%, due 10/1/31 | 425000 | 444928 |
|  |  | 1528075 |
| **Transportation — 0.2%** |  |  |
| Star Leasing Co. LLC |  |  |
| &nbsp;&nbsp;7.625%, due 2/15/30 | 280000 | 276180 |
| Watco Cos. LLC / Watco Finance Corp. |  |  |
| &nbsp;&nbsp;7.125%, due 8/1/32 | 235000 | 243802 |
|  |  | 519982 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Corporate Bonds (continued)** |  |  |
| **Water — 0.3%** |  |  |
| Aegea Finance Sarl, (Brazil) |  |  |
| &nbsp;&nbsp;9.000%, due 1/20/31 | $829000 | $891010 |
| **Total Corporate Bonds** |  |  |
| &nbsp;&nbsp;**(Cost $126,599,554)** |  | **127006528** |
| **U.S. Government & Federal Agencies — 30.3%** |  |  |
| **Mortgage Securities — 18.4%** |  |  |
| Fannie Mae Interest Strip |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-426 C32, 1.500%, due 2/25/52<sup>(d)</sup> | 2599835 | 247358 |
| &nbsp;&nbsp;&nbsp;Series 2023-429 C5, 3.000%, due 10/25/52<sup>(d)</sup> | 1868316 | 341584 |
| &nbsp;&nbsp;&nbsp;Series 2023-438 C34, 6.000%, due 8/25/53<sup>(d)</sup> | 1209486 | 291782 |
| &nbsp;&nbsp;&nbsp;Series 2024-440 C46, 4.000%, due 10/25/53<sup>(d)</sup> | 2109824 | 463326 |
| Fannie Mae Pool |  |  |
| &nbsp;&nbsp;Series 2020-FM5299, 3.500%, due 11/1/50 | 226023 | 202752 |
| &nbsp;&nbsp;Series 2021-MA4492, 2.000%, due 12/1/51 | 375259 | 294302 |
| &nbsp;&nbsp;Series 2022-CB3155, 2.000%, due 3/1/52 | 365563 | 286365 |
| &nbsp;&nbsp;Series 2022-MA4562, 2.000%, due 3/1/52 | 848571 | 666220 |
| &nbsp;&nbsp;Series 2023-FP0087, 2.000%, due 10/1/50 | 1638388 | 1287884 |
| &nbsp;&nbsp;Series 2023-FS3603, 5.500%, due 8/1/53 | 596166 | 597261 |
| &nbsp;&nbsp;Series 2023-FS5641, 6.000%, due 8/1/53 | 383420 | 392276 |
| &nbsp;&nbsp;Series 2023-FS5758, 6.000%, due 9/1/53 | 526796 | 538621 |
| &nbsp;&nbsp;Series 2023-FS6211, 6.000%, due 11/1/53 | 189221 | 192514 |
| &nbsp;&nbsp;Series 2023-MA4918, 5.000%, due 2/1/53 | 557979 | 544929 |
| &nbsp;&nbsp;Series 2023-MA4919, 5.500%, due 2/1/53 | 444372 | 443080 |
| &nbsp;&nbsp;Series 2023-MA5108, 6.000%, due 8/1/53 | 995422 | 1010786 |
| &nbsp;&nbsp;Series 2023-MA5139, 6.000%, due 9/1/53 | 422337 | 429244 |
| &nbsp;&nbsp;Series 2024-FS7587, 5.500%, due 4/1/54 | 591199 | 590985 |
| &nbsp;&nbsp;Series 2024-FS8275, 5.500%, due 6/1/54 | 2013493 | 2004785 |
| &nbsp;&nbsp;Series 2024-FS9453, 4.500%, due 8/1/53 | 780130 | 741416 |
| &nbsp;&nbsp;Series 2024-MA5353, 5.500%, due 5/1/54 | 513352 | 511092 |
| Fannie Mae REMICS |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-19 SD, 1.636%, (1 Month SOFR + 5.99%), due 4/25/46<sup>(a)(d)</sup> | 1190592 | 98568 |
| &nbsp;&nbsp;&nbsp;Series 2016-57 SN, 1.586%, (1 Month SOFR + 5.94%), due 6/25/46<sup>(a)(d)</sup> | 537627 | 55341 |
| &nbsp;&nbsp;&nbsp;Series 2019-32 SB, 1.586%, (1 Month SOFR + 5.94%), due 6/25/49<sup>(a)(d)</sup> | 894334 | 99651 |
| &nbsp;&nbsp;&nbsp;Series 2020-70 SD, 1.786%, (1 Month SOFR + 6.14%), due 10/25/50<sup>(a)(d)</sup> | 744564 | 99719 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-12 JI, 2.500%, due 3/25/51<sup>(d)</sup> | $586910 | $93747 |
| &nbsp;&nbsp;&nbsp;Series 2021-34 IS, 0.000%, (1 Month SOFR + 2.91%), due 11/25/42<sup>(a)(d)</sup> | 2459794 | 63454 |
| &nbsp;&nbsp;&nbsp;Series 2021-34 MI, 2.500%, due 3/25/51<sup>(d)</sup> | 1228781 | 172724 |
| &nbsp;&nbsp;&nbsp;Series 2021-54 HI, 2.500%, due 6/25/51<sup>(d)</sup> | 167657 | 20427 |
| &nbsp;&nbsp;&nbsp;Series 2021-8 ID, 3.500%, due 3/25/51<sup>(d)</sup> | 1389516 | 297318 |
| &nbsp;&nbsp;&nbsp;Series 2022-10 SA, 1.400%, (1 Month SOFR + 5.75%), due 2/25/52<sup>(a)(d)</sup> | 753635 | 84641 |
| &nbsp;&nbsp;&nbsp;Series 2023-24 OQ, 0.000%, due 7/25/54<sup>(f)(g)</sup> | 498800 | 406475 |
| &nbsp;&nbsp;&nbsp;Series 2024-48 SB, 1.550%, (1 Month SOFR + 5.90%), due 7/25/54<sup>(a)(d)</sup> | 3669419 | 227059 |
| Freddie Mac Gold Pool |  |  |
| &nbsp;&nbsp;Series 2025-Z40283, 3.500%, due 9/1/47 | 535671 | 489658 |
| Freddie Mac Multifamily Structured Pass Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-K758 A2, 4.680%, due 10/25/31<sup>(a)(c)</sup> | 1260000 | 1274106 |
| Freddie Mac Pool |  |  |
| &nbsp;&nbsp;Series 2022-RA6622, 2.500%, due 1/1/52 | 831311 | 689520 |
| &nbsp;&nbsp;Series 2022-SD8215, 4.000%, due 5/1/52 | 230647 | 213163 |
| &nbsp;&nbsp;Series 2022-SD8220, 3.000%, due 6/1/52 | 1167898 | 1000056 |
| &nbsp;&nbsp;Series 2022-SD8243, 3.500%, due 9/1/52 | 2542062 | 2274151 |
| &nbsp;&nbsp;Series 2022-SD8257, 4.500%, due 10/1/52 | 1415873 | 1345559 |
| &nbsp;&nbsp;Series 2023-SD3392, 5.500%, due 7/1/53 | 288154 | 288684 |
| &nbsp;&nbsp;Series 2023-SD3770, 2.500%, due 3/1/52 | 187134 | 155299 |
| &nbsp;&nbsp;Series 2023-SD4026, 6.000%, due 10/1/53 | 197508 | 201787 |
| &nbsp;&nbsp;Series 2023-SD4268, 6.000%, due 11/1/53 | 189280 | 192734 |
| &nbsp;&nbsp;Series 2024-SD5040, 5.500%, due 3/1/54 | 567291 | 567142 |
| &nbsp;&nbsp;Series 2024-SD5184, 4.000%, due 3/1/53 | 1039128 | 961163 |
| &nbsp;&nbsp;Series 2024-SD6766, 5.500%, due 11/1/54 | 373796 | 372121 |
| &nbsp;&nbsp;Series 2024-SD8407, 5.000%, due 3/1/54 | 664679 | 647699 |
| &nbsp;&nbsp;Series 2025-SL0849, 6.000%, due 4/1/55 | 538335 | 545952 |
| Freddie Mac REMICS |  |  |
| &nbsp;&nbsp;Series 2014-4358 Z, 3.000%, due 6/15/44 | 815415 | 739195 |
| &nbsp;&nbsp;Series 2017-4725 WZ, 3.500%, due 11/15/47 | 983314 | 897448 |
| &nbsp;&nbsp;Series 2020-4988 LP, 1.250%, due 6/25/50 | 642295 | 476211 |
| &nbsp;&nbsp;&nbsp;Series 2020-4993 KS, 1.586%, (1 Month SOFR + 5.94%), due 7/25/50<sup>(a)(d)</sup> | 1404227 | 178356 |
| &nbsp;&nbsp;&nbsp;Series 2020-4994 TS, 1.636%, (1 Month SOFR + 5.99%), due 7/25/50<sup>(a)(d)</sup> | 709336 | 90039 |
| &nbsp;&nbsp;&nbsp;Series 2020-5013 DI, 3.000%, due 9/25/50<sup>(d)</sup> | 1571381 | 292565 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-5021 SA, 0.000%, (1 Month SOFR + 3.55%), due 10/25/50<sup>(a)(d)</sup> | $749724 | $18163 |
| &nbsp;&nbsp;&nbsp;Series 2020-5031 IQ, 2.500%, due 10/25/50<sup>(d)</sup> | 474051 | 71197 |
| &nbsp;&nbsp;&nbsp;Series 2020-5038 IB, 2.500%, due 10/25/50<sup>(d)</sup> | 460438 | 72671 |
| &nbsp;&nbsp;&nbsp;Series 2020-5040 IO, 3.500%, due 11/25/50<sup>(d)</sup> | 685668 | 127435 |
| &nbsp;&nbsp;&nbsp;Series 2021-5070 PI, 3.000%, due 8/25/50<sup>(d)</sup> | 791719 | 146519 |
| &nbsp;&nbsp;Series 2021-5092 XA, 1.000%, due 1/15/41 | 355624 | 304686 |
| &nbsp;&nbsp;&nbsp;Series 2022-5191 IO, 3.500%, due 9/25/50<sup>(d)</sup> | 802020 | 146218 |
| &nbsp;&nbsp;Series 2023-5304 UB, 4.000%, due 2/25/52 | 329299 | 305445 |
| &nbsp;&nbsp;&nbsp;Series 2023-5315 OQ, 0.000%, due 1/25/55<sup>(f)(g)</sup> | 436422 | 355417 |
| &nbsp;&nbsp;&nbsp;Series 2023-5326 QO, 0.000%, due 9/25/50<sup>(f)(g)</sup> | 328047 | 212269 |
| &nbsp;&nbsp;Series 2023-5328 JY, 0.250%, due 9/25/50 | 699500 | 469717 |
| &nbsp;&nbsp;&nbsp;Series 2023-5351 DO, 0.000%, due 9/25/53<sup>(f)(g)</sup> | 399262 | 329986 |
| &nbsp;&nbsp;&nbsp;Series 2023-5351 EO, 0.000%, due 10/25/53<sup>(f)(g)</sup> | 270978 | 215583 |
| &nbsp;&nbsp;&nbsp;Series 2023-5363, 0.000%, due 12/25/53<sup>(f)(g)</sup> | 337408 | 287085 |
| &nbsp;&nbsp;&nbsp;Series 2024-5468 QS, 0.350%, (1 Month SOFR + 4.70%), due 5/25/54<sup>(a)(d)</sup> | 7878098 | 191247 |
| &nbsp;&nbsp;&nbsp;Series 2024-5471 SK, 1.000%, (1 Month SOFR + 5.35%), due 8/25/54<sup>(a)(d)</sup> | 5606295 | 232565 |
| &nbsp;&nbsp;&nbsp;Series 2024-5472 SB, 1.000%, (1 Month SOFR + 5.35%), due 11/25/54<sup>(a)(d)</sup> | 5616344 | 258678 |
| &nbsp;&nbsp;&nbsp;Series 2025-5527 FA, 5.350%, (1 Month SOFR + 1.00%), due 4/25/55<sup>(a)</sup> | 526550 | 524128 |
| Freddie Mac Stacr Remic Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1 M2, 6.000%, (1 Month SOFR + 1.65%), due 2/25/45<sup>(a)</sup> | 1000000 | 1003950 |
| Freddie Mac STACR REMIC Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-HQA1 B2, 9.564%, (1 Month SOFR + 5.21%), due 1/25/50<sup>(a)</sup> | 815000 | 897014 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3 M2, 8.700%, (1 Month SOFR + 4.35%), due 4/25/42<sup>(a)</sup> | 565000 | 594371 |
| Freddie Mac STACR REMIC Trust 2025-DNA1 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA1 M2, 5.700%, (1 Month SOFR + 1.35%), due 1/25/45<sup>(a)</sup> | 455000 | 454468 |
| Freddie Mac Strips |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-272, 0.000%, due 8/15/42<sup>(f)(g)</sup> | 462496 | 353052 |
| &nbsp;&nbsp;&nbsp;Series 2013-311 S1, 1.496%, (1 Month SOFR + 5.84%), due 8/15/43<sup>(a)(d)</sup> | 724388 | 72787 |
| &nbsp;&nbsp;&nbsp;Series 2023-397 C61, 5.500%, due 1/25/53<sup>(d)</sup> | 915417 | 205600 |
| &nbsp;&nbsp;&nbsp;Series 2023-402, 0.000%, due 9/25/53<sup>(f)(g)</sup> | 454558 | 371986 |
| Ginnie Mae II Pool |  |  |
| &nbsp;&nbsp;Series 2021-MA7409, 2.000%, due 6/20/51 | 532715 | 416944 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-93 AI, 4.500%, due 7/20/44<sup>(d)</sup> | 917262 | 220760 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-128 KF, 3.500%, (1 Month CME SOFR + 0.76%), due 10/20/49<sup>(a)</sup> | $233916 | $207352 |
| &nbsp;&nbsp;&nbsp;Series 2019-128 YF, 3.500%, (1 Month CME SOFR + 0.76%), due 10/20/49<sup>(a)</sup> | 242086 | 215042 |
| &nbsp;&nbsp;Series 2019-159 P, 2.500%, due 9/20/49 | 529948 | 459699 |
| &nbsp;&nbsp;&nbsp;Series 2019-92 GF, 3.500%, (1 Month CME SOFR + 0.80%), due 7/20/49<sup>(a)</sup> | 226919 | 201374 |
| &nbsp;&nbsp;&nbsp;Series 2020-1 YF, 3.500%, (1 Month CME SOFR + 0.78%), due 1/20/50<sup>(a)</sup> | 441924 | 392097 |
| &nbsp;&nbsp;&nbsp;Series 2020-1 YS, 0.000%, (1 Month CME SOFR + 2.72%), due 1/20/50<sup>(a)(d)</sup> | 1218024 | 13098 |
| &nbsp;&nbsp;&nbsp;Series 2020-129 SB, 0.000%, (1 Month CME SOFR + 3.09%), due 9/20/50<sup>(a)(d)</sup> | 1634688 | 23148 |
| &nbsp;&nbsp;&nbsp;Series 2020-146 KI, 2.500%, due 10/20/50<sup>(d)</sup> | 1334471 | 195185 |
| &nbsp;&nbsp;&nbsp;Series 2020-146 SA, 1.835%, (1 Month CME SOFR + 6.19%), due 10/20/50<sup>(a)(d)</sup> | 793660 | 110329 |
| &nbsp;&nbsp;&nbsp;Series 2020-168 IA, 0.980%, due 12/16/62<sup>(a)(c)(d)</sup> | 1481666 | 105432 |
| &nbsp;&nbsp;&nbsp;Series 2020-175 CS, 1.835%, (1 Month CME SOFR + 6.19%), due 11/20/50<sup>(a)(d)</sup> | 846288 | 111826 |
| &nbsp;&nbsp;&nbsp;Series 2020-189 SU, 1.835%, (1 Month CME SOFR + 6.19%), due 12/20/50<sup>(a)(d)</sup> | 733295 | 102822 |
| &nbsp;&nbsp;&nbsp;Series 2020-34 SC, 1.585%, (1 Month CME SOFR + 5.94%), due 3/20/50<sup>(a)(d)</sup> | 845032 | 103697 |
| &nbsp;&nbsp;&nbsp;Series 2021-1 IT, 3.000%, due 1/20/51<sup>(d)</sup> | 1198428 | 200583 |
| &nbsp;&nbsp;&nbsp;Series 2021-1 PI, 2.500%, due 12/20/50<sup>(d)</sup> | 682643 | 103665 |
| &nbsp;&nbsp;&nbsp;Series 2021-122 HS, 1.835%, (1 Month CME SOFR + 6.19%), due 7/20/51<sup>(a)(d)</sup> | 1081500 | 145428 |
| &nbsp;&nbsp;&nbsp;Series 2021-146 IN, 3.500%, due 8/20/51<sup>(d)</sup> | 1011491 | 179630 |
| &nbsp;&nbsp;&nbsp;Series 2021-158 SB, 0.000%, (1 Month SOFR + 3.70%), due 9/20/51<sup>(a)(d)</sup> | 922444 | 28012 |
| &nbsp;&nbsp;&nbsp;Series 2021-16 AS, 0.000%, (1 Month CME SOFR + 2.64%), due 1/20/51<sup>(a)(d)</sup> | 2136507 | 18481 |
| &nbsp;&nbsp;&nbsp;Series 2021-179 SA, 1.835%, (1 Month CME SOFR + 6.19%), due 11/20/50<sup>(a)(d)</sup> | 1255873 | 174044 |
| &nbsp;&nbsp;&nbsp;Series 2021-188 IO, 2.500%, due 10/20/51<sup>(d)</sup> | 3319329 | 556586 |
| &nbsp;&nbsp;&nbsp;Series 2021-205 DS, 0.000%, (1 Month SOFR + 3.20%), due 11/20/51<sup>(a)(d)</sup> | 2945253 | 43868 |
| &nbsp;&nbsp;&nbsp;Series 2021-226 SA, 0.000%, (1 Month SOFR + 1.70%), due 12/20/51<sup>(a)(d)</sup> | 1709685 | 5164 |
| &nbsp;&nbsp;&nbsp;Series 2021-29 AS, 0.000%, (1 Month SOFR + 2.70%), due 2/20/51<sup>(a)(d)</sup> | 2053134 | 18896 |
| &nbsp;&nbsp;&nbsp;Series 2021-42 BI, 2.500%, due 3/20/51<sup>(d)</sup> | 546404 | 85524 |
| &nbsp;&nbsp;&nbsp;Series 2021-46 QS, 1.835%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(d)</sup> | 496486 | 62500 |
| &nbsp;&nbsp;&nbsp;Series 2021-46 TS, 1.835%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(d)</sup> | 635143 | 80381 |
| &nbsp;&nbsp;&nbsp;Series 2021-47 IO, 0.992%, due 3/16/61<sup>(a)(c)(d)</sup> | 3471118 | 230794 |
| &nbsp;&nbsp;&nbsp;Series 2021-49 SB, 1.835%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(d)</sup> | 727574 | 94145 |
| &nbsp;&nbsp;&nbsp;Series 2021-57 SA, 1.835%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(d)</sup> | 1907527 | 240030 |
| &nbsp;&nbsp;&nbsp;Series 2021-57 SD, 1.835%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(d)</sup> | 1997836 | 258599 |
| &nbsp;&nbsp;&nbsp;Series 2021-67 PI, 3.000%, due 4/20/51<sup>(d)</sup> | 686853 | 117684 |
| &nbsp;&nbsp;&nbsp;Series 2021-74 HI, 3.000%, due 4/20/51<sup>(d)</sup> | 162913 | 24648 |

---

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;Series 2021-96 GP, 1.000%, due 6/20/51 | $536491 | $407615 |
| &nbsp;&nbsp;&nbsp;Series 2021-97 SA, 0.000%, (1 Month SOFR + 2.60%), due 6/20/51<sup>(a)(d)</sup> | 4132492 | 46250 |
| &nbsp;&nbsp;&nbsp;Series 2021-97 SM, 1.835%, (1 Month CME SOFR + 6.19%), due 6/20/51<sup>(a)(d)</sup> | 1143286 | 165759 |
| &nbsp;&nbsp;&nbsp;Series 2021-98 IN, 3.000%, due 6/20/51<sup>(d)</sup> | 558030 | 97633 |
| &nbsp;&nbsp;&nbsp;Series 2022-101 SB, 0.000%, (1 Month SOFR + 3.30%), due 6/20/52<sup>(a)(d)</sup> | 1097694 | 13524 |
| &nbsp;&nbsp;&nbsp;Series 2022-107 SA, 0.000%, (1 Month SOFR + 3.47%), due 6/20/52<sup>(a)(d)</sup> | 5550608 | 73596 |
| &nbsp;&nbsp;Series 2022-113 Z, 2.000%, due 9/16/61 | 638132 | 301124 |
| &nbsp;&nbsp;&nbsp;Series 2022-185 DI, 1.022%, due 10/16/65<sup>(a)(c)(d)</sup> | 1290701 | 90559 |
| &nbsp;&nbsp;&nbsp;Series 2022-221 C, 3.000%, due 6/16/64<sup>(a)(c)</sup> | 395000 | 258693 |
| &nbsp;&nbsp;&nbsp;Series 2022-34 HS, 0.000%, (1 Month SOFR + 4.10%), due 2/20/52<sup>(a)(d)</sup> | 2139635 | 97758 |
| &nbsp;&nbsp;&nbsp;Series 2022-69 FA, 4.500%, (1 Month SOFR + 0.75%), due 4/20/52<sup>(a)</sup> | 208023 | 195493 |
| &nbsp;&nbsp;&nbsp;Series 2022-78 S, 0.000%, (1 Month SOFR + 3.70%), due 4/20/52<sup>(a)(d)</sup> | 1140036 | 16316 |
| &nbsp;&nbsp;&nbsp;Series 2022-87 SA, 0.000%, (1 Month SOFR + 3.30%), due 5/20/52<sup>(a)(d)</sup> | 2194388 | 27036 |
| &nbsp;&nbsp;&nbsp;Series 2023-101 KO, 0.000%, due 1/20/51<sup>(f)(g)</sup> | 1071534 | 705943 |
| &nbsp;&nbsp;&nbsp;Series 2023-114 MO, 0.000%, due 8/20/53<sup>(f)(g)</sup> | 222676 | 184716 |
| &nbsp;&nbsp;&nbsp;Series 2023-159 CI, 0.953%, due 7/16/65<sup>(a)(c)(d)</sup> | 2853155 | 205292 |
| &nbsp;&nbsp;&nbsp;Series 2023-172 IO, 1.382%, due 2/16/66<sup>(a)(c)(d)</sup> | 1951708 | 180910 |
| &nbsp;&nbsp;&nbsp;Series 2023-194 CI, 0.817%, due 10/16/65<sup>(a)(c)(d)</sup> | 2189963 | 139396 |
| &nbsp;&nbsp;&nbsp;Series 2023-38 WT, 6.517%, due 12/20/51<sup>(a)(c)</sup> | 267943 | 280304 |
| &nbsp;&nbsp;&nbsp;Series 2023-53, 0.000%, due 4/20/53<sup>(f)(g)</sup> | 223233 | 175844 |
| &nbsp;&nbsp;&nbsp;Series 2023-55 CG, 7.658%, due 7/20/51<sup>(a)(c)</sup> | 439824 | 488073 |
| &nbsp;&nbsp;&nbsp;Series 2023-55 LB, 7.803%, due 11/20/51<sup>(a)(c)</sup> | 414615 | 469546 |
| &nbsp;&nbsp;&nbsp;Series 2023-56 SK, 1.585%, (1 Month CME SOFR + 5.94%), due 4/20/51<sup>(a)(d)</sup> | 2154920 | 225695 |
| &nbsp;&nbsp;&nbsp;Series 2023-59 YC, 7.130%, due 9/20/51<sup>(a)(c)</sup> | 590027 | 645882 |
| &nbsp;&nbsp;&nbsp;Series 2023-60 ES, 2.504%, (1 Month SOFR + 11.20%), due 4/20/53<sup>(a)</sup> | 469999 | 415577 |
| &nbsp;&nbsp;&nbsp;Series 2023-66 MP, 3.604%, (1 Month SOFR + 12.30%), due 5/20/53<sup>(a)</sup> | 588266 | 539188 |
| &nbsp;&nbsp;&nbsp;Series 2023-66 OQ, 0.000%, due 7/20/52<sup>(f)(g)</sup> | 743919 | 573507 |
| &nbsp;&nbsp;&nbsp;Series 2023-80 SA, 0.902%, (1 Month SOFR + 5.25%), due 6/20/53<sup>(a)(d)</sup> | 2297576 | 81772 |
| &nbsp;&nbsp;&nbsp;Series 2023-86 SE, 2.302%, (1 Month SOFR + 6.65%), due 9/20/50<sup>(a)(d)</sup> | 769783 | 113330 |
| &nbsp;&nbsp;&nbsp;Series 2024-29 B, 2.500%, due 8/16/64<sup>(a)(c)</sup> | 635000 | 460590 |
| &nbsp;&nbsp;&nbsp;Series 2024-48 JI, 3.000%, due 7/20/51<sup>(d)</sup> | 1198567 | 200030 |
| &nbsp;&nbsp;&nbsp;Series 2024-51 SX, 0.852%, (1 Month SOFR + 5.20%), due 3/20/54<sup>(a)(d)</sup> | 6056345 | 236664 |
| &nbsp;&nbsp;&nbsp;Series 2025-112 IO, 0.564%, due 3/16/66<sup>(a)(c)(d)</sup> | 3490980 | 176523 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;Series 2025-2 WZ, 2.000%, due 8/20/52 | $994891 | $618161 |
| &nbsp;&nbsp;Series 2025-2 Z, 3.500%, due 1/20/55 | 1124479 | 849656 |
| &nbsp;&nbsp;&nbsp;Series 2025-37 B, 4.500%, due 3/16/66<sup>(a)(c)</sup> | 535000 | 458565 |
| Seasoned Credit Risk Transfer Trust Series |  |  |
| &nbsp;&nbsp;Series 2025-1 MTU, 3.250%, due 11/25/64 | 1138998 | 977498 |
|  |  | 52654016 |
| **U.S. Treasury Bond — 2.8%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;4.750%, due 5/15/55 | 2995000 | 2929484 |
| &nbsp;&nbsp;&nbsp;5.000%, due 5/15/45<sup>(e)</sup> | 5130000 | 5205347 |
|  |  | 8134831 |
| **U.S. Treasury Note — 9.1%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;3.875%, due 7/15/28 | 895000 | 894720 |
| &nbsp;&nbsp;3.875%, due 7/31/30 | 12180000 | 12136228 |
| &nbsp;&nbsp;4.000%, due 7/31/32 | 3050000 | 3023789 |
| &nbsp;&nbsp;&nbsp;4.250%, due 5/15/35<sup>(e)</sup> | 10060000 | 9971975 |
|  |  | 26026712 |
| **Total U.S. Government & Federal Agencies** |  |  |
| &nbsp;&nbsp;**(Cost $86,909,809)** |  | **86815559** |
|  | **Shares** | **Value** |
| **Short-Term Investments — 1.8%** |  |  |
| **Money Market Funds — 1.8%** |  |  |
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio, Institutional Class, 4.19%<sup>(h)</sup> | 2625491 | 2625491 |
| Dreyfus Government Cash Management Fund, Institutional Shares, 4.18%<sup>(h)(i)</sup> | 2679967 | 2679967 |
| **Total Short-Term Investments** |  |  |
| &nbsp;&nbsp;**(Cost $5,305,458)** |  | **5305458** |
| **Total Investments — 100.3%<br> (Cost $287,414,697)** |  | **287699228** |
| **Other Assets and Liabilities,<br> Net — (0.3)%** |  | **(823851)** |
| **Net Assets — 100.0%** |  | $**286875377** |

---

(a) Variable rate securities that
 may be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of July 31, 2025.

(b) Less than 0.05%.

(c) Adjustable rate security with an interest rate
 that is not based on a published reference index and spread. The rate is based on the structure of the agreement and current
 market conditions.

(d) Interest only security. An interest only security
 is the interest only portion of a fixed income security, which is separated and sold individually from the principal portion
 of the security.

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

---

| | |
|:---|:---|
| (e) | All or a portion of the security was on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The aggregate market value of securities on loan was $11,591,620; total market value of collateral held by the Fund was $11,948,083. Market value of the collateral held includes non-cash U.S. Treasury securities collateral having a value of $9,268,116. |
| (f) | The security was issued on a discount basis with no stated coupon rate. Rate shown reflects the effective yield. |
| (g) | A principal only security is the principal only portion of a fixed income security, which is separated and sold individually from the interest portion of the security. |
| (h)<br> (i) | Reflects the 7-day yield at July 31, 2025.<br> Represents security purchased with cash collateral received for securities on loan |

---

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| CMT | - 1 year Constant Maturity Treasury Index |
| SOFR | - Secured Financing Overnight Rate |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open futures contracts outstanding at July 31, 2025:** | **Open futures contracts outstanding at July 31, 2025:** | **Open futures contracts outstanding at July 31, 2025:** | **Open futures contracts outstanding at July 31, 2025:** | **Open futures contracts outstanding at July 31, 2025:** | **Open futures contracts outstanding at July 31, 2025:** | **Open futures contracts outstanding at July 31, 2025:** |
| <u>**Type**</u> | **Broker** | **Expiration Date** | **Number of**<br> **Contracts<br> Purchased<br> (Sold)** | **Notional <br> Value at <br> Trade Date** | **Notional Value at**<br> **July 31, 2025** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| U.S. 10 Year Note (CBT) | Citigroup Global Markets Inc. | September 2025 | 75 | &nbsp;&nbsp;&nbsp;&nbsp;$8300979 | &nbsp;&nbsp;&nbsp;&nbsp;$8329688 | &nbsp;&nbsp;&nbsp;&nbsp;$28709 |
| U.S. 10 Year Ultra Note (CBT) | Citigroup Global Markets Inc. | September 2025 | (6) | (679486) | (678469) | 1017 |
| U.S. 2 Year Note (CBT) | Citigroup Global Markets Inc. | September 2025 | (84) | (17423735) | (17386687) | 37048 |
| U.S. 5 Year Note (CBT) | Citigroup Global Markets Inc. | September 2025 | 83 | 9002430 | 8978266 | (24164) |
| U.S. Long Bond (CBT) | Citigroup Global Markets Inc. | September 2025 | 57 | 6355901 | 6508687 | 152786 |
| U.S. Ultra Bond (CBT) | Citigroup Global Markets Inc. | September 2025 | 67 | 7658806 | 7859937 | 201131 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$396527 |

---

CBT — Chicago Board of Trade <br>

Cash posted as collateral to broker for futures contracts was $802,740 at July 31, 2025.

Schedule of Investments ─ NYLI MacKay Core Plus Bond ETF (continued)

July 31, 2025 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2025. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities:<sup>(j)</sup> |  |  |  |  |
| &nbsp;&nbsp;Bank Loans | $— | $2845396 | $— | $2845396 |
| &nbsp;&nbsp;Collateralized Loan Obligations |  | 4700779 |  | 4700779 |
| &nbsp;&nbsp;Collateralized Mortgage Obligations |  | 17589568 |  | 17589568 |
| &nbsp;&nbsp;Commercial Asset-Backed Securities |  | 20319665 |  | 20319665 |
| &nbsp;&nbsp;Commercial Mortgage-Backed Securities |  | 23116275 |  | 23116275 |
| &nbsp;&nbsp;Corporate Bonds |  | 127006528 |  | 127006528 |
| &nbsp;&nbsp;U.S. Government & Federal Agencies |  | 86815559 |  | 86815559 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;Money Market Funds | 5305458 |  |  | 5305458 |
| Total Investments in Securities | 5305458 | 282393770 |  | 287699228 |
| Other Financial Instruments:<sup>(k)</sup> |  |  |  |  |
| &nbsp;&nbsp;Futures Contracts | 420691 |  |  | 420691 |
| Total Investments in Securities and Other Financial Instruments | $5726149 | $282393770 | $— | $288119919 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments:<sup>(k)</sup> |  |  |  |  |
| &nbsp;&nbsp;Futures Contracts | $(24164) | $— | $— | $(24164) |

---

(j) For
 a complete listing of investments and their industries, see the Schedule of Investments.

(k) Reflects the unrealized
 appreciation (depreciation) of the instruments.

For the period ended July 31, 2025, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New York Life Investments Active ETF Trust

- **b. Investment Company Act file number:** 811-22739

- **c. CIK number of Registrant:** 0001426439

- **d. LEI of Registrant:** 549300VWZDQ61K9DOP39

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 888-474-7725

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

- **a. Name of Series:** NYLI MacKay Core Plus Bond ETF

- **b. EDGAR series identifier (if any):** S000071156

- **c. LEI of Series:** 549300LXJK55YI2K3A41

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $297059366.50

**Total Liabilities:** $10184153.16

**Net Assets:** $286875213.34

**Delayed Delivery Securities:** $1948444.80

**Cash Not Reported:** $1045435.37

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 218.81206000 | **1-Year:** 7907.37894000 | **5-Year:** 46412.84862000 | **10-Year:** 27997.12339000 | **30-Year:** 2924.99963000

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

- **3-Month:** 136.68588000 | **1-Year:** 9844.42442000 | **5-Year:** 11472.52962000 | **10-Year:** 999.03317000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000225893 | -0.08%               | 1.66%                | -0.40%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-579827.08              | $-426678.06                                |
| Month 2  | $-96360.42               | $3075240.03                                |
| Month 3  | $-77083.91               | $-2028065.18                               |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B11 Mortgage Trust                                              | CUSIP: 08162BBE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    315000 | PA      | $299431.50    | 0.10%             | 2052-05-15      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                     | Aircastle Ltd / Aircastle Ireland DAC                                          | CUSIP: 00929JAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    525000 | PA      | $524049.10    | 0.18%             | 2030-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALDERYS FINANCING LLC                      | Calderys Financing LLC                                                         | CUSIP: 128786AA8<br>LEI: 254900ZIKDM74XNEFV84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105652.67    | 0.04%             | 2028-06-01      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2021-3                                              | CUSIP: 33846QAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    890000 | PA      | $825850.94    | 0.29%             | 2028-12-15      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                    | Organon & Co / Organon Foreign Debt Co-Issuer BV                               | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $520580.12    | 0.18%             | 2028-04-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384CBE8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1071534 | PA      | $705943.08    | 0.25%             | 2051-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                   | CUSIP: 25160PAH0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    910000 | PA      | $882717.54    | 0.31%             | 2028-01-07      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                      | Cloud Software Group Inc                                                       | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504942.50    | 0.18%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XM3V6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    189221 | PA      | $192513.94    | 0.07%             | 2053-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FYEX0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    355624 | PA      | $304686.21    | 0.11%             | 2041-01-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                      | Edgewell Personal Care Co                                                      | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    450000 | PA      | $446616.20    | 0.16%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38385B2H2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1124479 | PA      | $849656.24    | 0.30%             | 2055-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BBX23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    744564 | PA      | $99718.58     | 0.03%             | 2050-10-25      | Floating      | 1.79%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                | CUSIP: 70932MAB3<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    250000 | PA      | $239440.53    | 0.08%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51057.75     | 0.02%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381HGG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    638132 | PA      | $301124.17    | 0.10%             | 2061-09-16      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                    | PetSmart Inc / PetSmart Finance Corp                                           | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $195716.52    | 0.07%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381WS33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    226919 | PA      | $201374.27    | 0.07%             | 2049-07-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                 | Vistra Operations Co LLC                                                       | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349810.69    | 0.12%             | 2026-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38380RA75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3471118 | PA      | $230793.96    | 0.08%             | 2061-03-16      | Variable      | 0.99%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR ULTRA                                                                  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         2 | NC      | $-1902.04     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JETBLUE 2019-1 CLASS AA                     | JetBlue 2019-1 Class AA Pass Through Trust                                     | CUSIP: 477143AH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    721632 | PA      | $628901.49    | 0.22%             | 2032-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ZIGGO BV                                    | Ziggo BV                                                                       | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |    275000 | PA      | $254037.03    | 0.09%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                    | LCM Investments Holdings II LLC                                                | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    365000 | PA      | $354714.74    | 0.12%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                    | Organon & Co / Organon Foreign Debt Co-Issuer BV                               | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $173023.12    | 0.06%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XYN8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    223233 | PA      | $175843.80    | 0.06%             | 2053-04-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B14 Mortgage Trust                                              | CUSIP: 08162YAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $341724.51    | 0.12%             | 2062-12-15      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trus              | CFCRE Commercial Mortgage Trust 2016-C4                                        | CUSIP: 12531YAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    617007 | PA      | $585062.20    | 0.20%             | 2058-05-10      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3133KNLB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    831311 | PA      | $689519.85    | 0.24%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384A3B7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    769783 | PA      | $113329.99    | 0.04%             | 2050-09-20      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12175000 | PA      | $12131246.09  | 4.23%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BELROSE FUNDING TRUST II                    | Belrose Funding Trust II                                                       | CUSIP: 08079KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $665038.54    | 0.23%             | 2055-05-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD LP                        | Cantor Fitzgerald LP                                                           | CUSIP: 138616AM9<br>LEI: 549300RLUEEVQEMX0450 | Long             | DBT              | CORP              | US        |    490000 | PA      | $520505.65    | 0.18%             | 2028-12-12      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                     | Light & Wonder International Inc                                               | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208457.00    | 0.07%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137H9YM5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    329299 | PA      | $305444.61    | 0.11%             | 2052-02-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HHEW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5616344 | PA      | $258677.55    | 0.09%             | 2054-11-25      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BFKM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    586910 | PA      | $93747.14     | 0.03%             | 2051-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                    | Virginia Electric and Power Co                                                 | CUSIP: 927804GJ7<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    500000 | PA      | $422180.42    | 0.15%             | 2052-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JN94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2189963 | PA      | $139396.17    | 0.05%             | 2065-10-16      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                       | Brooklyn Union Gas Co/The                                                      | CUSIP: 114259AW4<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |    910000 | PA      | $877210.23    | 0.31%             | 2032-08-05      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                                       | CUSIP: 15089QAW4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104102.50    | 0.04%             | 2028-11-15      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                     | LCPR Senior Secured Financing DAC                                              | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $153500.00    | 0.05%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus              | BRAVO Residential Funding Trust 2024-NQM8                                      | CUSIP: 10571DAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    304573 | PA      | $296679.59    | 0.10%             | 2053-08-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                      | CHL Mortgage Pass-Through Trust 2005-9                                         | CUSIP: 12669GYY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     34983 | PA      | $30556.92     | 0.01%             | 2035-05-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382NAB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2136507 | PA      | $18480.79     | 0.01%             | 2051-01-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| DIAMOND FRGN/DIAMOND FIN                    | Diamond Foreign Asset Co / Diamond Finance LLC                                 | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    200000 | PA      | $208448.60    | 0.07%             | 2030-10-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                       | CUSIP: 539439AM1<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    775000 | PA      | $774557.45    | 0.27%             | 2025-12-10      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                       | HUB International Ltd                                                          | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156365.40    | 0.05%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383MCW6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2139635 | PA      | $97758.42     | 0.03%             | 2052-02-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103123.60    | 0.04%             | 2028-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                             | Yum! Brands Inc                                                                | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99458.53     | 0.03%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PARKLAND CORP                               | Parkland Corp                                                                  | CUSIP: 70137WAL2<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $479487.35    | 0.17%             | 2030-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BRITISH AIR 21-1 A PPT                      | British Airways 2021-1 Class A Pass Through Trust                              | CUSIP: 11042CAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    806279 | PA      | $729015.85    | 0.25%             | 2035-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                    | TK Elevator US Newco Inc                                                       | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398210.84    | 0.14%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2022-J1 Trust                                                              | CUSIP: 67116WAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    752231 | PA      | $602225.62    | 0.21%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                     | Dell International LLC / EMC Corp                                              | CUSIP: 24703DBF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $329952.59    | 0.12%             | 2041-12-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                            | StoneX Group Inc                                                               | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    375000 | PA      | $393954.75    | 0.14%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                           | NatWest Group PLC                                                              | CUSIP: 780097BP5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    520000 | PA      | $507081.60    | 0.18%             | 2028-05-22      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R01                                   | CUSIP: 20754LAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $445850.50    | 0.16%             | 2041-12-25      | Floating      | 10.35%                | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                     | Nissan Motor Acceptance Co LLC                                                 | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1103488.03   | 0.38%             | 2026-09-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust              | HarborView Mortgage Loan Trust 2005-2                                          | CUSIP: 41161PLR2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56659 | PA      | $54234.59     | 0.02%             | 2035-05-19      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                    | 1011778 BC ULC / New Red Finance Inc                                           | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    100000 | PA      | $96454.39     | 0.03%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP                      | Aviation Capital Group LLC                                                     | CUSIP: 05369AAK7<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    965000 | PA      | $951485.91    | 0.33%             | 2026-01-30      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382KVX8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1334471 | PA      | $195184.58    | 0.07%             | 2050-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BOSTON GAS COMPANY                          | Boston Gas Co                                                                  | CUSIP: 100743AM5<br>LEI: FN7P4E7K9JOBORDEUX61 | Long             | DBT              | CORP              | US        |    275000 | PA      | $254238.80    | 0.09%             | 2032-03-16      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| VELOCITY VEHICLE GROUP                      | Velocity Vehicle Group LLC                                                     | CUSIP: 92262TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $86004.45     | 0.03%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                    | Baltimore Gas and Electric Co                                                  | CUSIP: 059165EP1<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |    720000 | PA      | $606148.64    | 0.21%             | 2052-06-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                   | Enpro Inc                                                                      | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40355.04     | 0.01%             | 2033-06-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust              | Home Partners of America 2021-2 Trust                                          | CUSIP: 43732VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95960 | PA      | $92525.89     | 0.03%             | 2026-12-17      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3128HXY25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    462496 | PA      | $353052.41    | 0.12%             | 2042-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                         | GRAY TELEVISIO 12/01/28                                                        | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |     53401 | PA      | $53228.91     | 0.02%             | 2028-12-01      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31424UWR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1209486 | PA      | $291781.82    | 0.10%             | 2053-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAFC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    328047 | PA      | $212269.00    | 0.07%             | 2050-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XXB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    590027 | PA      | $645882.36    | 0.23%             | 2051-09-20      | Variable      | 7.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R07                                   | CUSIP: 20754MCB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $106350.96    | 0.04%             | 2042-06-25      | Floating      | 9.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418E5P1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    513352 | PA      | $511092.29    | 0.18%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                             | Yum! Brands Inc                                                                | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    400000 | PA      | $382916.56    | 0.13%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                     | Jane Street Group / JSG Finance Inc                                            | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $198432.86    | 0.07%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                     | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                   | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $594612.12    | 0.21%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N              | Ally Bank Auto Credit-Linked Notes Series 2024-B                               | CUSIP: 02007G4H3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    572521 | PA      | $568811.95    | 0.20%             | 2032-09-15      | Fixed         | 11.39%                | No            |                  2 | On Loan: No      |
| MOTION BONDCO DAC                           | Motion Bondco DAC                                                              | CUSIP: 61978XAA5<br>LEI: 635400KFD3IETNQLA755 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $189762.64    | 0.07%             | 2027-11-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| EXCELERATE ENERGY LP                        | Excelerate Energy LP                                                           | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |    150000 | PA      | $157027.80    | 0.05%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| American Rock Salt Co LLC                   | AMR ROCK SALT 06/12/28                                                         | CUSIP: 02932JAP2<br>LEI: 549300FBKBNV4GSVVR46 | Long             | LON              | CORP              | US        |    198450 | PA      | $150325.58    | 0.05%             | 2028-06-12      | Floating      | 8.45%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                      | Clearway Energy Operating LLC                                                  | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    425000 | PA      | $417867.13    | 0.15%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31422MZU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2599835 | PA      | $247358.22    | 0.09%             | 2052-02-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                     | LCPR Senior Secured Financing DAC                                              | CUSIP: 50201DAD5<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $135946.82    | 0.05%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JPMCC Commercial Mortgage Securities Trust 2019-COR5                           | CUSIP: 46591EAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155000 | PA      | $116172.89    | 0.04%             | 2052-06-13      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381KAF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    635000 | PA      | $460589.63    | 0.16%             | 2064-08-16      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor              | Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10             | CUSIP: 06054MAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1380000 | PA      | $1215714.86   | 0.42%             | 2049-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                     | MPT Operating Partnership LP / MPT Finance Corp                                | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103940.50    | 0.04%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trus              | CFCRE Commercial Mortgage Trust 2016-C3                                        | CUSIP: 12531WAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    540000 | PA      | $502544.52    | 0.18%             | 2048-01-10      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| BOYNE USA INC                               | Boyne USA Inc                                                                  | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $242264.58    | 0.08%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382AEQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    233916 | PA      | $207352.18    | 0.07%             | 2049-10-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                           | Magnetite 50 Ltd                                                               | CUSIP: 55956MAA7<br>LEI: 529900LA8YF5OY74OD31 | Long             | ABS-CBDO         | CORP              | KY        |    650000 | PA      | $650070.20    | 0.23%             | 2038-07-25      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                     | Global Partners LP / GLP Finance Corp                                          | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25387.65     | 0.01%             | 2033-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ASP UNIFRAX HOLDINGS INC                    | ASP Unifrax Holdings Inc                                                       | CUSIP: 00218LAG6<br>LEI: 549300RRU6BWJLD0YT71 | Long             | DBT              | CORP              | US        |    103604 | PA      | $95315.55     | 0.03%             | 2029-09-30      | Fixed         | 11.18%                | No            |                  2 | On Loan: No      |
| SG Commercial Mortgage Securit              | SG Commercial Mortgage Securities Trust 2016-C5                                | CUSIP: 78419CAK0<br>LEI: 549300SZQW4U3UN4A157 | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $384428.20    | 0.13%             | 2048-10-10      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382MV97<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1198428 | PA      | $200583.10    | 0.07%             | 2051-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JZC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2853155 | PA      | $205292.47    | 0.07%             | 2065-07-16      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                         | Churchill Downs Inc                                                            | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    375000 | PA      | $374073.86    | 0.13%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Clarios Global LP                           | CLARIOS GL 01/14/32                                                            | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    100000 | PA      | $100041.70    | 0.03%             | 2032-01-28      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EVA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    995422 | PA      | $1010786.22   | 0.35%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus              | CSAIL 2015-C3 Commercial Mortgage Trust                                        | CUSIP: 12635FAT1<br>LEI: 549300ZAGI6FKGY8O078 | Long             | ABS-MBS          | CORP              | US        |     18788 | PA      | $18724.11     | 0.01%             | 2048-08-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2025-1                                  | CUSIP: 80288DAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    430000 | PA      | $434202.73    | 0.15%             | 2031-03-17      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Series 2025-R01                                  | CUSIP: 20755JAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    770000 | PA      | $768321.55    | 0.27%             | 2045-01-25      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                       | CUSIP: 345397G31<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    345000 | PA      | $345197.62    | 0.12%             | 2031-11-05      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FBKV7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    983314 | PA      | $897448.27    | 0.31%             | 2047-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2023-4                                     | CUSIP: 30166TAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $268128.54    | 0.09%             | 2029-12-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                        | M&T Bank Corp                                                                  | CUSIP: 55261FAT1<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    410000 | PA      | $431438.24    | 0.15%             | 2032-03-13      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HHAB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5606295 | PA      | $232565.36    | 0.08%             | 2054-08-25      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XMMG8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    526796 | PA      | $538621.41    | 0.19%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                             | Zayo Issuer LLC                                                                | CUSIP: 98919WAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    840000 | PA      | $848273.16    | 0.30%             | 2055-03-20      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Corp Trust 2017-GPTX                                    | CUSIP: 36257CAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    513367 | PA      | $451989.04    | 0.16%             | 2034-05-10      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XSW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    469999 | PA      | $415577.47    | 0.14%             | 2053-04-20      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90162.60     | 0.03%             | 2032-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| AEGEA FINANCE SARL                          | Aegea Finance Sarl                                                             | CUSIP: 00775CAC0<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |    829000 | PA      | $891010.30    | 0.31%             | 2031-01-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SGUS LLC                                    | SGUS LLC                                                                       | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    112315 | PA      | $104957.24    | 0.04%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                               | TopBuild Corp                                                                  | CUSIP: 89055FAB9<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117783.08    | 0.04%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                            | Insight Enterprises Inc                                                        | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |    165000 | PA      | $168733.22    | 0.06%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                       | Encompass Health Corp                                                          | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95508.79     | 0.03%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PLANET FINANCIAL GROUP                      | Planet Financial Group LLC                                                     | CUSIP: 72702AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $153058.95    | 0.05%             | 2029-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                      | American Honda Finance Corp                                                    | CUSIP: 02665WGF2<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    715000 | PA      | $722499.01    | 0.25%             | 2032-07-09      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                                 | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    350000 | PA      | $342719.37    | 0.12%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                          | Tricon Residential 2024-SFR4 Trust                                             | CUSIP: 895975AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    493164 | PA      | $483481.86    | 0.17%             | 2041-11-17      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DQXV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    288154 | PA      | $288683.58    | 0.10%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALLIANCE RES OP/FINANCE                     | Alliance Resource Operating Partners LP / Alliance Resource Finance Corp       | CUSIP: 01879NAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $158512.65    | 0.06%             | 2029-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                    | Plains All American Pipeline LP                                                | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    550000 | PA      | $550310.75    | 0.19%             | N/A             | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                    | Perrigo Finance Unlimited Co                                                   | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    100000 | PA      | $101046.60    | 0.04%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R08                                   | CUSIP: 20755DAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    865000 | PA      | $932582.45    | 0.33%             | 2042-07-25      | Floating      | 9.95%                 | No            |                  2 | On Loan: No      |
| SHEA HOMES LP/FNDG CP                       | Shea Homes LP / Shea Homes Funding Corp                                        | CUSIP: 82088KAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $73204.50     | 0.03%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2019-INV2 Trust                                                            | CUSIP: 67112VAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    249997 | PA      | $232521.74    | 0.08%             | 2049-05-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P              | Freddie Mac Multifamily Structured Pass Through Certificates                   | CUSIP: 3137HHJF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1260000 | PA      | $1274105.70   | 0.44%             | 2031-10-25      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                 | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $895008.82    | 0.31%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| SKY1 Trust                                  | SKY Trust 2025-LINE                                                            | CUSIP: 830941AC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    492395 | PA      | $492390.90    | 0.17%             | 2042-04-15      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                       | Williams Scotsman Inc                                                          | CUSIP: 96950GAE2<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147559.44    | 0.05%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fortress Credit Opportunities               | Fortress Credit Opportunities XXI CLO LLC                                      | CUSIP: 34964UAN6<br>LEI: 254900WDNXJI5BDB6170 | Long             | ABS-CBDO         | CORP              | US        |    600000 | PA      | $601180.80    | 0.21%             | 2037-01-21      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | J.P. Morgan Mortgage Trust 2022-1                                              | CUSIP: 46654WCK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    728276 | PA      | $581455.49    | 0.20%             | 2052-07-25      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2021-4                                                | CUSIP: 46652VBT1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1436744 | PA      | $1154122.79   | 0.40%             | 2051-08-25      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| PetSmart LLC                                | PETSMART 02/11/2028                                                            | CUSIP: 71677HAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    198966 | PA      | $198551.96    | 0.07%             | 2028-02-14      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383PV40<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    208023 | PA      | $195493.35    | 0.07%             | 2052-04-20      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                  | DaVita Inc                                                                     | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71520.53     | 0.02%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                       | Quikrete Holdings Inc                                                          | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    315000 | PA      | $323062.43    | 0.11%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                    | Discovery Communications LLC                                                   | CUSIP: 25470DCC1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     70000 | PA      | $62007.11     | 0.02%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                       | American Homes 4 Rent LP                                                       | CUSIP: 02666TAC1<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    905000 | PA      | $786004.12    | 0.27%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                       | Huntington Bancshares Inc/OH                                                   | CUSIP: 446150BF0<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    755000 | PA      | $771780.69    | 0.27%             | 2039-11-18      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                    | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $283895.34    | 0.10%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                          | Regal Rexnord Corp                                                             | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79279.38     | 0.03%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2016-DC2 Mortgage Trust                                                   | CUSIP: 12594CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1260000 | PA      | $1192128.34   | 0.42%             | 2049-02-10      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384EBR5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    222676 | PA      | $184715.71    | 0.06%             | 2053-08-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                           | Ares Capital Corp                                                              | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74866.20     | 0.03%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                       | Evergy Kansas Central Inc                                                      | CUSIP: 30036FAD3<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1257902.09   | 0.44%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                    | 1011778 BC ULC / New Red Finance Inc                                           | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    500000 | PA      | $463256.15    | 0.16%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383X4D3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    414615 | PA      | $469546.18    | 0.16%             | 2051-11-20      | Variable      | 7.80%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                        | LifePoint Health Inc                                                           | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    155000 | PA      | $160910.77    | 0.06%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                           | Nexstar Media Inc                                                              | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48597.17     | 0.02%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| INVITATION HOMES OP                         | Invitation Homes Operating Partnership LP                                      | CUSIP: 46188BAA0<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |    585000 | PA      | $496580.23    | 0.17%             | 2031-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| AGCO CORP                                   | AGCO Corp                                                                      | CUSIP: 001084AS1<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |    720000 | PA      | $733805.35    | 0.26%             | 2034-03-21      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                          | Subway Funding LLC                                                             | CUSIP: 864300AJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    402975 | PA      | $396611.74    | 0.14%             | 2054-07-30      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                        | Edison International                                                           | CUSIP: 281020AZ0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    470000 | PA      | $450496.79    | 0.16%             | 2054-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DUQT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    373796 | PA      | $372121.27    | 0.13%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY BANK                              | Synchrony Bank                                                                 | CUSIP: 87166FAD5<br>LEI: 549300UATVPGSLE43Z27 | Long             | DBT              | CORP              | US        |    715000 | PA      | $714865.58    | 0.25%             | 2025-08-22      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136ATEN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    537627 | PA      | $55340.60     | 0.02%             | 2046-06-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer              | WaMu Mortgage Pass-Through Certificates Series 2004-AR13 Trust                 | CUSIP: 92922FB80<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     37569 | PA      | $35687.75     | 0.01%             | 2034-11-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                   | CUSIP: 251526CF4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    570000 | PA      | $527601.92    | 0.18%             | 2032-01-14      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWDU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    230647 | PA      | $213163.34    | 0.07%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                       | Mineral Resources Ltd                                                          | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    450000 | PA      | $460637.00    | 0.16%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FIRST HORIZON BANK                          | First Horizon Bank                                                             | CUSIP: 337158AJ8<br>LEI: COOWI3L2W9TPYR3WJX37 | Long             | DBT              | CORP              | US        |    811000 | PA      | $828416.31    | 0.29%             | 2030-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T Inc                                                                       | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    585000 | PA      | $394110.12    | 0.14%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R03                                   | CUSIP: 20753XAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    210000 | PA      | $233819.71    | 0.08%             | 2042-03-25      | Floating      | 14.20%                | No            |                  2 | On Loan: No      |
| AMER AIRLINE 21-1B PTT                      | American Airlines 2021-1 Class B Pass Through Trust                            | CUSIP: 02376LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    215350 | PA      | $204179.11    | 0.07%             | 2030-07-11      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                    | Macquarie Airfinance Holdings Ltd                                              | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    850000 | PA      | $883654.90    | 0.31%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2020-BNK25                                                                | CUSIP: 06539WAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1390000 | PA      | $1064516.91   | 0.37%             | 2063-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SMITHFIELD FOODS INC                        | Smithfield Foods Inc                                                           | CUSIP: 832248BC1<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |    170000 | PA      | $154747.38    | 0.05%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes CLO Ltd                         | Great Lakes CLO 2019-1 Ltd                                                     | CUSIP: 390578AT9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    515000 | PA      | $515533.03    | 0.18%             | 2037-04-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| GRAHAM HOLDINGS CO                          | Graham Holdings Co                                                             | CUSIP: 384637AA2<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |    475000 | PA      | $474764.73    | 0.17%             | 2026-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BHVP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2459794 | PA      | $63454.09     | 0.02%             | 2042-11-25      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38379XY20<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    917262 | PA      | $220759.93    | 0.08%             | 2044-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                                 | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100306.40    | 0.03%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU                    | Installed Building Products Inc                                                | CUSIP: 45780RAA9<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199445.60    | 0.07%             | 2028-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                                       | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51938.20     | 0.02%             | 2029-07-15      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383TLA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5550608 | PA      | $73595.51     | 0.03%             | 2052-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| FIRST HORIZON CORP                          | First Horizon Corp                                                             | CUSIP: 320517AE5<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | DBT              | CORP              | US        |    600000 | PA      | $610443.96    | 0.21%             | 2031-03-07      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                 | Hertz Vehicle Financing III LP                                                 | CUSIP: 42806MAH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    730000 | PA      | $703390.33    | 0.25%             | 2027-12-27      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                         | Go Daddy Operating Co LLC / GD Finance Co Inc                                  | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $448324.92    | 0.16%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                  | ROCK Trust 2024-CNTR                                                           | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1367470.39   | 0.48%             | 2041-11-13      | Fixed         | 8.82%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493135.15    | 0.17%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2019-BNK20                                                                | CUSIP: 06540AAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    180000 | PA      | $140817.33    | 0.05%             | 2062-09-15      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| CENTURY ALUMINUM COMPANY                    | Century Aluminum Co                                                            | CUSIP: 156431AN8<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |    400000 | PA      | $407392.80    | 0.14%             | 2028-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                    | CHS/Community Health Systems Inc                                               | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55351.37     | 0.02%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97847.56     | 0.03%             | 2031-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Agate Bay Mortgage Loan Trust               | Agate Bay Mortgage Trust 2015-5                                                | CUSIP: 00842BAV9<br>LEI: 549300RM62GNIVQ1WJ04 | Long             | ABS-MBS          | CORP              | US        |    147493 | PA      | $119293.23    | 0.04%             | 2045-07-25      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 31427M5K3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    538335 | PA      | $545951.91    | 0.19%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                       | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    435000 | PA      | $438418.09    | 0.15%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                     | Energean Israel Finance Ltd                                                    | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |     95000 | PA      | $91254.63     | 0.03%             | 2028-03-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38380REA4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1481666 | PA      | $105432.27    | 0.04%             | 2062-12-16      | Variable      | 0.98%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384AWS8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    588266 | PA      | $539187.92    | 0.19%             | 2053-05-20      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                      | Arizona Public Service Co                                                      | CUSIP: 040555DE1<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |    665000 | PA      | $714212.73    | 0.25%             | 2032-12-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38385B3C2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    994891 | PA      | $618160.57    | 0.22%             | 2052-08-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                         | Clarivate Science Holdings Corp                                                | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $341838.05    | 0.12%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2023-R07                                   | CUSIP: 20753BAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    540000 | PA      | $562424.04    | 0.20%             | 2043-09-25      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAA48<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    436422 | PA      | $355416.71    | 0.12%             | 2055-01-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                      | Patrick Industries Inc                                                         | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48412.60     | 0.02%             | 2029-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                    | Alexandria Real Estate Equities Inc                                            | CUSIP: 015271AR0<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              | CORP              | US        |    360000 | PA      | $332030.82    | 0.12%             | 2031-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                                       | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499425.20    | 0.17%             | 2027-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XTCZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1638388 | PA      | $1287883.52   | 0.45%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BGKA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    167657 | PA      | $20426.82     | 0.01%             | 2051-06-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                       | Caesars Entertainment Inc                                                      | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144777.81    | 0.05%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| CONSTELLATION OIL SA                        | Constellation Oil Services Holding SA                                          | CUSIP: 650921AA7<br>LEI: 5493005YJTU769NW5I10 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $204874.00    | 0.07%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: —       |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                   | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    585000 | PA      | $530808.17    | 0.19%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                   | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $196256.23    | 0.07%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                     | GLP Capital LP / GLP Financing II Inc                                          | CUSIP: 361841AP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    930000 | PA      | $889521.01    | 0.31%             | 2030-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                               | Cable One Inc                                                                  | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190900.00    | 0.07%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                    | Permian Resources Operating LLC                                                | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    450000 | PA      | $450274.95    | 0.16%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                         | Sirius XM Radio LLC                                                            | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395648.94    | 0.14%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                      | Blackstone Mortgage Trust Inc                                                  | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52854.35     | 0.02%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DCLI BIDCO LLC                              | Dcli Bidco LLC                                                                 | CUSIP: 233104AA6<br>LEI: 2549007UUVJTHHNK9T70 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86762.31     | 0.03%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                        | Edison International                                                           | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47544.10     | 0.02%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BLACKROCK TREASURY TRUST                    | BLACKROCK TREASURY TRUST                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2625491 | NS      | $2625490.55   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                    | Hilcorp Energy I LP / Hilcorp Finance Co                                       | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $288981.60    | 0.10%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382MGE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    733295 | PA      | $102822.37    | 0.04%             | 2050-12-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                 | KeyBank NA/Cleveland OH                                                        | CUSIP: 49327M3E2<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    485000 | PA      | $484884.83    | 0.17%             | 2025-08-08      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XQFR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2013493 | PA      | $2004784.53   | 0.70%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                            | Arches Buyer Inc                                                               | CUSIP: 03952HAD6<br>LEI: 2549009ADY4208OH2Y47 | Long             | LON              | CORP              | US        |     99739 | PA      | $99545.01     | 0.03%             | 2027-12-06      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HHBQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7878098 | PA      | $191247.13    | 0.07%             | 2054-05-25      | Floating      | 0.35%                 | No            |                  2 | On Loan: No      |
| SMITHFIELD FOODS INC                        | Smithfield Foods Inc                                                           | CUSIP: 832248AZ1<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |    715000 | PA      | $705998.52    | 0.25%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bank                                        | Bank 2019-BNK19                                                                | CUSIP: 06540WBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    840000 | PA      | $612367.06    | 0.21%             | 2061-08-15      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DSXM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1039128 | PA      | $961162.71    | 0.34%             | 2053-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                          | Credit Agricole SA                                                             | CUSIP: 225313AP0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    440000 | PA      | $415639.36    | 0.14%             | N/A             | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                       | Mineral Resources Ltd                                                          | CUSIP: 603051AA1<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $100294.50    | 0.03%             | 2027-05-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN POSEIDON LTD                     | Transocean Poseidon Ltd                                                        | CUSIP: 89383JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     78750 | PA      | $78693.31     | 0.03%             | 2027-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                       | Venture Global Plaquemines LNG LLC                                             | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87443.84     | 0.03%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PTC INC                                     | PTC Inc                                                                        | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97438.95     | 0.03%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382DM30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    845032 | PA      | $103697.50    | 0.04%             | 2050-03-20      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust                                                       | CUSIP: 46593VAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440147 | PA      | $439189.03    | 0.15%             | 2055-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                     | United Rentals North America Inc                                               | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93306.05     | 0.03%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                          | Subway Funding LLC                                                             | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    656700 | PA      | $664924.90    | 0.23%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383F6G3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1097694 | PA      | $13523.70     | 0.00%             | 2052-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                    | Univision Communications Inc                                                   | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62256.05     | 0.02%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                          | Banco Santander SA                                                             | CUSIP: 05964HBD6<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $210023.74    | 0.07%             | 2034-03-14      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                       | Williams Scotsman Inc                                                          | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51555.03     | 0.02%             | 2030-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                       | SS&C Technologies Inc                                                          | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500108.85    | 0.17%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382LLE9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    846288 | PA      | $111825.99    | 0.04%             | 2050-11-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382P5E8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    635143 | PA      | $80380.79     | 0.03%             | 2051-03-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                    | Stonex Escrow Issuer LLC                                                       | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $157784.06    | 0.06%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AECOM                                       | AECOM                                                                          | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120975.60    | 0.04%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382RR75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    686853 | PA      | $117683.64    | 0.04%             | 2051-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                         | Buckeye Partners LP                                                            | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46586.39     | 0.02%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382QAM2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1997836 | PA      | $258598.90    | 0.09%             | 2051-03-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2785000 | PA      | $2724078.13   | 0.95%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2016-NXS6                                | CUSIP: 95000KAJ4<br>LEI: 549300CFP9NBBMZH1008 | Long             | ABS-MBS          | CORP              | US        |    630000 | PA      | $556353.44    | 0.19%             | 2049-11-15      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                           | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    605000 | PA      | $542494.42    | 0.19%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382CDW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1218024 | PA      | $13097.65     | 0.00%             | 2050-01-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31424U8A7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2109824 | PA      | $463326.10    | 0.16%             | 2053-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRANSALTA CORP                              | TransAlta Corp                                                                 | CUSIP: 89346DAH0<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $114614.28    | 0.04%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                     | BPCE SA                                                                        | CUSIP: 05571AAR6<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $264450.17    | 0.09%             | 2029-10-19      | Fixed         | 6.71%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BFES8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1389516 | PA      | $297318.18    | 0.10%             | 2051-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MERCER INTL INC                             | Mercer International Inc                                                       | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |    480000 | PA      | $386660.35    | 0.13%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                    | TGNR Intermediate Holdings LLC                                                 | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $243529.38    | 0.08%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                      | Cloud Software Group Inc                                                       | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77614.58     | 0.03%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S              | BBCMS Mortgage Trust 2023-C21                                                  | CUSIP: 05553WAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    420000 | PA      | $447701.81    | 0.16%             | 2056-09-15      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                        | National Fuel Gas Co                                                           | CUSIP: 636180BU4<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1182849.15   | 0.41%             | 2035-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                          | CUSIP: 3132FCJ48<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    535671 | PA      | $489658.15    | 0.17%             | 2047-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    236000 | PA      | $249423.44    | 0.09%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                         | DT Auto Owner Trust 2021-4                                                     | CUSIP: 26253WAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    148609 | PA      | $146518.51    | 0.05%             | 2027-09-15      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| OT MIDCO INC                                | OT Midco Inc                                                                   | CUSIP: 68877AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $110022.30    | 0.04%             | 2030-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                       | Brooklyn Union Gas Co/The                                                      | CUSIP: 114259AX2<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |    225000 | PA      | $238446.63    | 0.08%             | 2033-09-15      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BL3H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    753635 | PA      | $84641.42     | 0.03%             | 2052-02-25      | Floating      | 1.40%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                  | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75370.40     | 0.03%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO                    | Wildfire Intermediate Holdings LLC                                             | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99504.08     | 0.03%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| JAZZ SECURITIES DAC                         | Jazz Securities DAC                                                            | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    950000 | PA      | $919007.58    | 0.32%             | 2029-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HADW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    699500 | PA      | $469716.70    | 0.16%             | 2050-09-25      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA VEND FIN IV                    | Virgin Media Vendor Financing Notes IV DAC                                     | CUSIP: 92770QAA5<br>LEI: 635400ZZNJSEA4CAJR23 | Long             | DBT              | CORP              | IE        |    235000 | PA      | $227901.38    | 0.08%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2019-HRP1                                  | CUSIP: 20754PAD2<br>LEI: 549300Z5THZ1JXIHVK60 | Long             | ABS-MBS          | CORP              | US        |    635000 | PA      | $684707.80    | 0.24%             | 2039-11-25      | Floating      | 13.71%                | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-BRBK                                         | CUSIP: 05613NAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    495000 | PA      | $496845.76    | 0.17%             | 2041-10-15      | Floating      | 10.31%                | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                   | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    150000 | PA      | $147148.28    | 0.05%             | N/A             | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                            | Vital Energy Inc                                                               | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     90000 | PA      | $78994.03     | 0.03%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                                 | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250678.25    | 0.09%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FUFU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    709336 | PA      | $90038.86     | 0.03%             | 2050-07-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur              | Bridgecrest Lending Auto Securitization Trust 2024-1                           | CUSIP: 107933AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1521601.50   | 0.53%             | 2029-11-15      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                    | Outfront Media Capital LLC / Outfront Media Capital Corp                       | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $148490.39    | 0.05%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EV98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    422337 | PA      | $429244.13    | 0.15%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JAMES HARDIE INTL FIN                       | James Hardie International Finance DAC                                         | CUSIP: 47032FAB5<br>LEI: 635400G32A4Q1LVQ8M88 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $198481.50    | 0.07%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                     | KeyCorp                                                                        | CUSIP: 49326EEP4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    320000 | PA      | $342013.24    | 0.12%             | 2035-03-06      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| ENCINO ACQUISITION PARTN                    | Encino Acquisition Partners Holdings LLC                                       | CUSIP: 29254BAA5<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |    315000 | PA      | $321693.75    | 0.11%             | 2028-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                     | Frontier Communications Holdings LLC                                           | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $300054.30    | 0.10%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2020-SBT1                                  | CUSIP: 20753VBT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1114312.50   | 0.39%             | 2040-02-25      | Floating      | 11.21%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383WJT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    267943 | PA      | $280304.01    | 0.10%             | 2051-12-20      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                    | Windstream Services LLC / Windstream Escrow Finance Corp                       | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $444928.25    | 0.16%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BELLRING BRANDS INC                         | BellRing Brands Inc                                                            | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207483.00    | 0.07%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CNM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    895000 | PA      | $894720.31    | 0.31%             | 2028-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2015-420                                        | CUSIP: 61765BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    430402 | PA      | $434928.50    | 0.15%             | 2050-10-12      | Variable      | 7.98%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3142G4PC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    915417 | PA      | $205599.99    | 0.07%             | 2053-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-5                                     | CUSIP: 30167FAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1265000 | PA      | $1330359.64   | 0.46%             | 2030-04-15      | Fixed         | 10.45%                | No            |                  2 | On Loan: No      |
| Woodward Capital Management                 | RCKT Mortgage Trust 2021-5                                                     | CUSIP: 749384AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4350769 | PA      | $3504701.44   | 1.22%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R02                                   | CUSIP: 20754GAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $225158.54    | 0.08%             | 2044-02-25      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                  | LAD Auto Receivables Trust 2024-3                                              | CUSIP: 505709AG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    885000 | PA      | $891056.23    | 0.31%             | 2032-02-17      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BSLE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3669419 | PA      | $227059.25    | 0.08%             | 2054-07-25      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EPC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    557979 | PA      | $544929.03    | 0.19%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                       | Scotts Miracle-Gro Co/The                                                      | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    250000 | PA      | $227145.35    | 0.08%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B9 Mortgage Trust                                               | CUSIP: 08160JAK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $914944.17    | 0.32%             | 2052-03-15      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                                       | CUSIP: 15089QAX2<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104142.48    | 0.04%             | 2030-11-15      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| COTY/HFC PRESTIGE/INT US                    | Coty Inc/HFC Prestige Products Inc/HFC Prestige International US LLC           | CUSIP: 222070AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1392517.46   | 0.49%             | 2029-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage               | Citigroup Commercial Mortgage Trust 2018-B2                                    | CUSIP: 17327FAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1420000 | PA      | $1074472.68   | 0.37%             | 2051-03-10      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FWMZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    749724 | PA      | $18163.25     | 0.01%             | 2050-10-25      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| NINE ENERGY SERVICE INC                     | Nine Energy Service Inc                                                        | CUSIP: 65441VAE1<br>LEI: 549300KRLJCZBPZMKT65 | Long             | DBT              | CORP              | US        |    110000 | PA      | $51942.00     | 0.02%             | 2028-02-01      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                      | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    200000 | PA      | $190336.58    | 0.07%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 31325URK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    724388 | PA      | $72787.49     | 0.03%             | 2043-08-15      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| AG ISSUER LLC                               | AG Issuer LLC                                                                  | CUSIP: 00119LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $299683.38    | 0.10%             | 2028-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XPND7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    591199 | PA      | $590984.82    | 0.21%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                        | Westpac Banking Corp                                                           | CUSIP: 961214EX7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    975000 | PA      | $854526.01    | 0.30%             | 2036-11-18      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| GPD COS INC                                 | GPD Cos Inc                                                                    | CUSIP: 36260VAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125870 | PA      | $109506.90    | 0.04%             | 2029-12-31      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                | CUSIP: 37045XDE3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    640000 | PA      | $557870.39    | 0.19%             | 2031-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JA72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1951708 | PA      | $180910.27    | 0.06%             | 2066-02-16      | Variable      | 1.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                       | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    760000 | PA      | $740419.52    | 0.26%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9620000 | PA      | $9535825.00   | 3.32%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| UBS Commercial Mortgage Trust               | UBS Commercial Mortgage Trust 2018-C9                                          | CUSIP: 90291JBB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440000 | PA      | $296654.42    | 0.10%             | 2051-03-15      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| WE SODA INV HOLDING PLC                     | WE Soda Investments Holding PLC                                                | CUSIP: 92943TAC7<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |    765000 | PA      | $801085.25    | 0.28%             | 2031-02-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Great Outdoors Group LLC                    | GREAT OUTDOORS G 01/16/32                                                      | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |    497500 | PA      | $497251.25    | 0.17%             | 2032-01-23      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381MUH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3490980 | PA      | $176522.80    | 0.06%             | 2066-03-16      | Variable      | 0.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382VAW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1143286 | PA      | $165759.32    | 0.06%             | 2051-06-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| Amentum Holdings Inc                        | AMENTUM HLDG 09/29/31                                                          | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |    236042 | PA      | $234566.41    | 0.08%             | 2031-09-29      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FUQM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    642294 | PA      | $476211.47    | 0.17%             | 2050-06-25      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAZG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    270978 | PA      | $215583.45    | 0.08%             | 2053-10-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F              | Ford Credit Auto Owner Trust 2023-REV1                                         | CUSIP: 34535QAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $434690.64    | 0.15%             | 2035-08-15      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384BPQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2297576 | PA      | $81772.35     | 0.03%             | 2053-06-20      | Floating      | 0.90%                 | No            |                  2 | On Loan: No      |
| PAPA JOHN'S INTERNATIONA                    | Papa John's International Inc                                                  | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95187.84     | 0.03%             | 2029-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FXMY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    460438 | PA      | $72670.61     | 0.03%             | 2050-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                        | Samarco Mineracao SA                                                           | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |    100000 | PA      | $99035.53     | 0.03%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MULTIFAMILY CONNECTICUT AVENUE              | Multifamily Connecticut Avenue Securities Trust 2020-01                        | CUSIP: 62548QAF8<br>LEI: 5493002KQF9IH3CTQZ40 | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $207146.50    | 0.07%             | 2050-03-25      | Floating      | 11.96%                | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                           | NatWest Group PLC                                                              | CUSIP: 639057AN8<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    260000 | PA      | $269889.47    | 0.09%             | 2035-03-01      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                        | Talos Production Inc                                                           | CUSIP: 87485LAE4<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    360000 | PA      | $367097.04    | 0.13%             | 2031-02-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                       | CUSIP: 345397D42<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    390000 | PA      | $410312.80    | 0.14%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                    | Clear Channel Outdoor Holdings Inc                                             | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99150.88     | 0.03%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CHOBANI HOLDCO II LLC                       | Chobani Holdco II LLC                                                          | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    208391 | PA      | $223516.02    | 0.08%             | 2029-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                              | Gray Media Inc                                                                 | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     40000 | PA      | $43287.98     | 0.02%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: —       |
| TRUIST FINANCIAL CORP                       | Truist Financial Corp                                                          | CUSIP: 89788MAT9<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    420000 | PA      | $427168.35    | 0.15%             | 2032-08-05      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383CTL4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3319329 | PA      | $556585.70    | 0.19%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                     | Darling Ingredients Inc                                                        | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251598.00    | 0.09%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                    | Avolon Holdings Funding Ltd                                                    | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    890000 | PA      | $916195.79    | 0.32%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BP5A5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    498800 | PA      | $406474.64    | 0.14%             | 2054-07-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EB82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    848571 | PA      | $666220.15    | 0.23%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                 | AltaGas Ltd                                                                    | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100766.30    | 0.04%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                         | Intesa Sanpaolo SpA                                                            | CUSIP: 46115HBU0<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    830000 | PA      | $835128.55    | 0.29%             | 2025-11-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CENTURY ALUMINUM COMPANY                    | Century Aluminum Co                                                            | CUSIP: 156431AS7<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101036.54    | 0.04%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWKU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    664679 | PA      | $647698.61    | 0.23%             | 2054-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                        | LifePoint Health Inc                                                           | CUSIP: 53219LAU3<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103400.00    | 0.04%             | 2029-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                        | Range Resources Corp                                                           | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145809.63    | 0.05%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWDZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1167898 | PA      | $1000055.97   | 0.35%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140X83H8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    226023 | PA      | $202752.34    | 0.07%             | 2050-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381HH46<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    395000 | PA      | $258692.81    | 0.09%             | 2064-06-16      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| WATCO COS LLC/FINANCE CO                    | Watco Cos LLC / Watco Finance Corp                                             | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | PA      | $243801.93    | 0.08%             | 2032-08-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384KVY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6056345 | PA      | $236663.80    | 0.08%             | 2054-03-20      | Floating      | 0.85%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu              | JPMDB Commercial Mortgage Securities Trust 2017-C7                             | CUSIP: 46648KBA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    415000 | PA      | $370992.74    | 0.13%             | 2050-10-15      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                           | Post Holdings Inc                                                              | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    275000 | PA      | $272616.25    | 0.10%             | 2029-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                  | NCMF Trust 2025-MFS                                                            | CUSIP: 62887TAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    560000 | PA      | $564876.76    | 0.20%             | 2033-06-10      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $131330.36    | 0.05%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                              | Trust Fibra Uno                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    200000 | PA      | $207009.20    | 0.07%             | 2034-02-13      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                          | PBF Holding Co LLC / PBF Finance Corp                                          | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $54516.39     | 0.02%             | 2030-03-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382UF55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    536491 | PA      | $407615.33    | 0.14%             | 2051-06-20      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                        | Edison International                                                           | CUSIP: 281020BB2<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    850000 | PA      | $814350.16    | 0.28%             | 2032-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Mill City Mortgage Trust                    | Mill City Mortgage Loan Trust 2018-3                                           | CUSIP: 59980XAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    833224 | PA      | $629208.11    | 0.22%             | 2058-08-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| SCIH Salt Holdings Inc                      | SCIH SALT HLDG 01/31/29                                                        | CUSIP: 78397GAF8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     41376 | PA      | $41416.46     | 0.01%             | 2029-01-31      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                    | Delta Air Lines Inc / SkyMiles IP Ltd                                          | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1055000 | PA      | $1055648.14   | 0.37%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                        | LifePoint Health Inc                                                           | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $274773.75    | 0.10%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382JXP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1634688 | PA      | $23147.84     | 0.01%             | 2050-09-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384KHH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1198567 | PA      | $200029.54    | 0.07%             | 2051-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132E0FK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    187134 | PA      | $155298.95    | 0.05%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW CAN INFRA HOLD                    | South Bow Canadian Infrastructure Holdings Ltd                                 | CUSIP: 836720AF9<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $103278.57    | 0.04%             | 2055-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                    | Electricite de France SA                                                       | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     40000 | PA      | $45835.00     | 0.02%             | N/A             | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                            | Lamar Media Corp                                                               | CUSIP: 513075BW0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $294617.64    | 0.10%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Realtruck Group Inc                         | REALTRUCK GROU 01/31/28                                                        | CUSIP: 89778PAH0<br>LEI: 54930007KT5CX7XNSD31 | Long             | LON              | CORP              | US        |    149244 | PA      | $138672.91    | 0.05%             | 2028-01-31      | Floating      | 9.45%                 | No            |                  2 | On Loan: No      |
| NA Rail Hold Co LLC                         | PATRIOT RAIL 02/26/32                                                          | CUSIP: 000000000<br>LEI: 549300WBUJ0EQ32JFK65 | Long             | LON              | CORP              | US        |    100000 | PA      | $100250.00    | 0.03%             | 2032-03-08      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit               | Freddie Mac Mscr Trust Mn9                                                     | CUSIP: 355917AB1<br>LEI: 529900KWKEUIIIV9P337 | Long             | ABS-MBS          | USGSE             | US        |    915000 | PA      | $923795.35    | 0.32%             | 2044-10-25      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2018-B3 Mortgage Trust                                               | CUSIP: 08161BBC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $465626.26    | 0.16%             | 2051-04-10      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382NP76<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2053134 | PA      | $18896.23     | 0.01%             | 2051-02-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2014-150E                                       | CUSIP: 61764BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $938415.24    | 0.33%             | 2032-09-09      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382WH26<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1011491 | PA      | $179630.24    | 0.06%             | 2051-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| IAMGOLD CORP                                | IAMGOLD Corp                                                                   | CUSIP: 450913AF5<br>LEI: 254900E7II30XAB9LA72 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $247244.55    | 0.09%             | 2028-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                            | ITT Holdings LLC                                                               | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    180000 | PA      | $171451.58    | 0.06%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BHWC9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1228781 | PA      | $172724.23    | 0.06%             | 2051-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ENERSYS                                     | EnerSys                                                                        | CUSIP: 29275YAF9<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102765.40    | 0.04%             | 2032-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH EDISON CO                      | Commonwealth Edison Co                                                         | CUSIP: 202795KA7<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118723.95    | 0.04%             | 2054-06-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137F9Y54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    791719 | PA      | $146519.29    | 0.05%             | 2050-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137F6PH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    685668 | PA      | $127434.72    | 0.04%             | 2050-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CARS.COM INC                                | Cars.com Inc                                                                   | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |    185000 | PA      | $184616.20    | 0.06%             | 2028-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382KWJ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    793660 | PA      | $110329.23    | 0.04%             | 2050-10-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| BCC Middle Market CLO                       | BCC Middle Market CLO 2025-1 LLC                                               | CUSIP: 05555YAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    435000 | PA      | $435978.75    | 0.15%             | 2037-07-17      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                        | Talos Production Inc                                                           | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    140000 | PA      | $143485.58    | 0.05%             | 2029-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                    | Hess Midstream Operations LP                                                   | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $301305.00    | 0.11%             | 2030-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3133Q3C33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    454558 | PA      | $371985.57    | 0.13%             | 2053-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAYG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    399262 | PA      | $329986.38    | 0.12%             | 2053-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fun              | Bayview Opportunity Master Fund VII 2024-EDU1 LLC                              | CUSIP: 07336PAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    316254 | PA      | $315183.27    | 0.11%             | 2047-06-25      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                              | Ryan Specialty LLC                                                             | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200552.80    | 0.07%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CLUE OPCO LLC                               | Clue Opco LLC                                                                  | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $196168.64    | 0.07%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FU6G4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1404227 | PA      | $178355.54    | 0.06%             | 2050-07-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                     | Global Partners LP / GLP Finance Corp                                          | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $151538.10    | 0.05%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2020-HQA1                                        | CUSIP: 35565JBE0<br>LEI: 549300TCRXCIFPAC3B85 | Long             | ABS-MBS          | CORP              | US        |    815000 | PA      | $897013.69    | 0.31%             | 2050-01-25      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                       | HPEFS Equipment Trust 2024-1                                                   | CUSIP: 403963AF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $262473.02    | 0.09%             | 2031-11-20      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                             | CUSIP: 02005NCA6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    630000 | PA      | $630873.61    | 0.22%             | 2033-07-31      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                           | Hyatt Hotels Corp                                                              | CUSIP: 448579AR3<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    885000 | PA      | $900465.06    | 0.31%             | 2029-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK                     | Great Lakes Dredge & Dock Corp                                                 | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80511.93     | 0.03%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                          | Osaic Holdings Inc                                                             | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101206.12    | 0.04%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R03                                   | CUSIP: 207941AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $201623.70    | 0.07%             | 2044-03-25      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| TRINET GROUP INC                            | TriNet Group Inc                                                               | CUSIP: 896288AA5<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |    200000 | PA      | $186021.28    | 0.06%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EFESTO BIDCO SPA/US LLC                     | Efesto Bidco S.p.A Efesto US LLC                                               | CUSIP: 28201XAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |     80000 | PA      | $81600.09     | 0.03%             | 2032-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                         | Clarivate Science Holdings Corp                                                | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $286764.29    | 0.10%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                    | Eagle Funding Luxco Sarl                                                       | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    885000 | PA      | $888982.50    | 0.31%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AAR ESCROW ISSUER LLC                       | AAR Escrow Issuer LLC                                                          | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $143648.26    | 0.05%             | 2029-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                  | CUSIP: 172967NE7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    560000 | PA      | $488866.38    | 0.17%             | 2032-11-03      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 2YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -75 | NC      | $36364.75     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FXFB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    474051 | PA      | $71197.26     | 0.02%             | 2050-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US LONG BOND(CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        63 | NC      | $170490.05    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| RB GLOBAL HOLDINGS INC                      | RB Global Holdings Inc                                                         | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    500000 | PA      | $523996.00    | 0.18%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                        | LifePoint Health Inc                                                           | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    110000 | PA      | $117028.36    | 0.04%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R02                                   | CUSIP: 20754BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490000 | PA      | $524799.51    | 0.18%             | 2042-01-25      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| BRISTOW GROUP INC                           | Bristow Group Inc                                                              | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130307.71    | 0.05%             | 2028-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                   | IQVIA Inc                                                                      | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    195000 | PA      | $199963.73    | 0.07%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                  | GLS Auto Receivables Issuer Trust 2022-3                                       | CUSIP: 38014QAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $441101.68    | 0.15%             | 2029-10-15      | Fixed         | 8.35%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                               | EchoStar Corp                                                                  | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |     72599 | PA      | $68787.32     | 0.02%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                    | Live Nation Entertainment Inc                                                  | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492270.84    | 0.17%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                           | Amsted Industries Inc                                                          | CUSIP: 032177AJ6<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47884.93     | 0.02%             | 2030-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382TM27<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    558030 | PA      | $97632.96     | 0.03%             | 2051-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DBGS Mortgage Trust                         | DBGS 2018-5BP Mortgage Trust                                                   | CUSIP: 33830CAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    365000 | PA      | $346750.00    | 0.12%             | 2033-06-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382RLF3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    162913 | PA      | $24647.57     | 0.01%             | 2051-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5130000 | PA      | $5205346.88   | 1.81%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| UKG INC                                     | UKG Inc                                                                        | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    450000 | PA      | $461999.25    | 0.16%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SEADRILL FINANCE LTD                        | Seadrill Finance Ltd                                                           | CUSIP: 81172QAA2<br>LEI: 213800WMN3OHFUDHD642 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $102150.30    | 0.04%             | 2030-08-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XMHT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    383420 | PA      | $392275.94    | 0.14%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R05                                   | CUSIP: 20754XAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1340000 | PA      | $1344966.84   | 0.47%             | 2044-07-25      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust              | MSWF Commercial Mortgage Trust 2023-2                                          | CUSIP: 55361AAX2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $423350.69    | 0.15%             | 2056-12-15      | Variable      | 6.49%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2017-BNK7                                                                 | CUSIP: 06541XAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    245000 | PA      | $219130.11    | 0.08%             | 2060-09-15      | Variable      | 3.98%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA                      | Stena International SA                                                         | CUSIP: 85858EAE3<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |    750000 | PA      | $770836.61    | 0.27%             | 2031-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                  | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020362.00   | 0.36%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                           | Amsted Industries Inc                                                          | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60957.54     | 0.02%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                         | Lightning Power LLC                                                            | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    400000 | PA      | $418187.20    | 0.15%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                            | CSC Holdings LLC                                                               | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    350000 | PA      | $338771.34    | 0.12%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DREYFUS GOVERNMENT CASH MANAGE              | DREYFUS GOVERNMENT CASH MANAGE                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2679968 | NS      | $2679967.66   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                  | GLS Auto Receivables Issuer Trust 2024-3                                       | CUSIP: 37989AAL8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    660000 | PA      | $666581.65    | 0.23%             | 2031-02-18      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                       | CUSIP: 53944YAU7<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    355000 | PA      | $353094.10    | 0.12%             | 2033-08-11      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                           | Iliad Holding SASU                                                             | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    215000 | PA      | $230626.41    | 0.08%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                               | Carnival Corp                                                                  | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    150000 | PA      | $151015.50    | 0.05%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418D7E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    375259 | PA      | $294301.89    | 0.10%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | STACR Trust 2018-HRP1                                                          | CUSIP: 3137G0VB2<br>LEI: 549300D2VO9JVX6KU482 | Long             | ABS-MBS          | CORP              | US        |    398484 | PA      | $482786.73    | 0.17%             | 2043-05-25      | Floating      | 16.21%                | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                   | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    195000 | PA      | $206669.19    | 0.07%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                               | Open Text Holdings Inc                                                         | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $445220.87    | 0.16%             | 2030-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     90000 | PA      | $94400.91     | 0.03%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HB5E0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    337408 | PA      | $287084.83    | 0.10%             | 2053-12-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384AQK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    743919 | PA      | $573506.82    | 0.20%             | 2052-07-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382PZ47<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    727574 | PA      | $94145.37     | 0.03%             | 2051-03-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                              | Rocket Cos Inc                                                                 | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $131813.83    | 0.05%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                | CD 2017-CD4 Mortgage Trust                                                     | CUSIP: 12515DAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    495000 | PA      | $412965.18    | 0.14%             | 2050-05-10      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382VET2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4132492 | PA      | $46250.02     | 0.02%             | 2051-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                   | CUSIP: 902613AD0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    740000 | PA      | $663228.11    | 0.23%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                      | JB Poindexter & Co Inc                                                         | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    350000 | PA      | $357958.13    | 0.12%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2025-VLT7                                                             | CUSIP: 123913AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    585000 | PA      | $586645.31    | 0.20%             | 2044-07-15      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XKAD2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    596166 | PA      | $597261.40    | 0.21%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 5YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        52 | NC      | $-20222.22    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| United Wholesale Mortgage LLC               | UWM Mortgage Trust 2021-INV5                                                   | CUSIP: 90355DAY9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    873418 | PA      | $729473.95    | 0.25%             | 2052-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    845485 | PA      | $650732.53    | 0.23%             | 2060-07-15      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS PWR & LIGHT                    | Indianapolis Power & Light Co                                                  | CUSIP: 455434BV1<br>LEI: 2T85JNP2R2B2GTSFND21 | Long             | DBT              | CORP              | US        |    370000 | PA      | $379025.04    | 0.13%             | 2032-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| PM GENERAL PURCHASER LLC                    | PM General Purchaser LLC                                                       | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $116625.00    | 0.04%             | 2028-10-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS                       | Endo Finance Holdings Inc                                                      | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $239362.20    | 0.08%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss              | New Economy Assets - Phase 1 Sponsor LLC                                       | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    420000 | PA      | $344505.55    | 0.12%             | 2061-10-20      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                    | Sealed Air Corp/Sealed Air Corp US                                             | CUSIP: 812127AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100955.85    | 0.04%             | 2028-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NES FIRCROFT BONDCO AS                      | NES Fircroft Bondco AS                                                         | CUSIP: 000000000<br>LEI: 636700CUSS22I12S3R10 | Long             | DBT              | CORP              | NO        |    125000 | PA      | $124636.80    | 0.04%             | 2029-09-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                           | Waste Pro USA Inc                                                              | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51878.15     | 0.02%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                    | Compass Minerals International Inc                                             | CUSIP: 20451NAJ0<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |     85000 | PA      | $88062.79     | 0.03%             | 2030-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY                     | Nationwide Building Society                                                    | CUSIP: 63861VAF4<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    960000 | PA      | $935664.30    | 0.33%             | 2028-02-16      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136B4XC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    894334 | PA      | $99651.40     | 0.03%             | 2049-06-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| INNOPHOS HOLDINGS INC                       | Innophos Holdings Inc                                                          | CUSIP: 45774NAD0<br>LEI: XQ0331QX53IRX25OY417 | Long             | DBT              | CORP              | US        |    280000 | PA      | $283438.40    | 0.10%             | 2029-06-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                             | CUSIP: 02005NBT6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    465000 | PA      | $488948.97    | 0.17%             | 2029-06-13      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383C3X6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2945253 | PA      | $43868.07     | 0.02%             | 2051-11-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                | CUSIP: 37045XFG6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    715000 | PA      | $726250.93    | 0.25%             | 2032-04-04      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                              | Gray Media Inc                                                                 | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75657.85     | 0.03%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                 | KeyBank NA/Cleveland OH                                                        | CUSIP: 49327V2C7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    720000 | PA      | $700793.04    | 0.24%             | 2032-08-08      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac Stacr Remic Trust 2025-Hqa1                                        | CUSIP: 35564NHA4<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1003950.00   | 0.35%             | 2045-02-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                     | TransMontaigne Partners LLC                                                    | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $94080.42     | 0.03%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                  | Progress Residential 2025-SFR3 Trust                                           | CUSIP: 74334BAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    540000 | PA      | $481395.74    | 0.17%             | 2042-07-17      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48404.08     | 0.02%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382CDV0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    441924 | PA      | $392097.13    | 0.14%             | 2050-01-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| New Fortress Energy Inc                     | New Fortress Ene 10/30/28                                                      | CUSIP: 64439HAC3<br>LEI: 254900EICTYTCHA5X705 | Long             | LON              | CORP              | US        |    199249 | PA      | $91903.48     | 0.03%             | 2028-10-30      | Floating      | 9.83%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2022-2                                              | CUSIP: 33844XAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1264000 | PA      | $1162768.64   | 0.41%             | 2028-04-17      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                     | Central Garden & Pet Co                                                        | CUSIP: 153527AM8<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    450000 | PA      | $448060.64    | 0.16%             | 2028-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CORONADO FINANCE PTY LTD                    | Coronado Finance Pty Ltd                                                       | CUSIP: 21979LAB2<br>LEI: 549300NS5FS0W548RE27 | Long             | DBT              | CORP              | AU        |     50000 | PA      | $38199.25     | 0.01%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                       | NESCO Holdings II Inc                                                          | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146251.27    | 0.05%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                              | Transocean Inc                                                                 | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $207353.80    | 0.07%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382AGG4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    242086 | PA      | $215041.76    | 0.07%             | 2049-10-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382XY58<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    922444 | PA      | $28012.42     | 0.01%             | 2051-09-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                          | Voyager Parent LLC                                                             | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    130000 | PA      | $137519.72    | 0.05%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                    | OLYMPUS WATER US HOLDING CORP                                                  | CUSIP: 46150DAA0<br>LEI: 254900P6GHORGRVLKI95 | Long             | DBT              | CORP              | US        |    180000 | PA      | $177869.21    | 0.06%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                              | Rocket Cos Inc                                                                 | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $96898.40     | 0.03%             | 2033-08-01      | Fixed         | 6.38%                 | 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        |    197296 | PA      | $201051.64    | 0.07%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                         | Fifth Third Bancorp                                                            | CUSIP: 316773DM9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    455000 | PA      | $458993.17    | 0.16%             | 2030-09-06      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                             | CUSIP: 36179WGS1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    532715 | PA      | $416943.86    | 0.15%             | 2051-06-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                          | Seasoned Credit Risk Transfer Trust Series 2025-1                              | CUSIP: 35563PYZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1138998 | PA      | $977497.92    | 0.34%             | 2064-11-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                       | SS&C Technologies Inc                                                          | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    300000 | PA      | $308471.40    | 0.11%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382QAD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1907527 | PA      | $240030.17    | 0.08%             | 2051-03-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                       | Sixth Street CLO XIV Ltd                                                       | CUSIP: 83013NAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $698682.60    | 0.24%             | 2038-01-20      | Floating      | 5.48%                 | 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        |    550000 | PA      | $568053.99    | 0.20%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                | Ares Loan Funding IX Ltd                                                       | CUSIP: 03990HAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $600315.60    | 0.21%             | 2038-03-31      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                    | Olympus Water US Holding Corp                                                  | CUSIP: 16308NAA2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203099.80    | 0.07%             | 2027-10-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                                     | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    775000 | PA      | $809638.40    | 0.28%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                        | M&T Bank Corp                                                                  | CUSIP: 55261FAV6<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    430000 | PA      | $428438.68    | 0.15%             | 2036-01-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition LLC                  | Camelot U.S. Acq 01/31/31                                                      | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    100000 | PA      | $100375.00    | 0.03%             | 2031-01-31      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF GAS CO                       | Southern California Gas Co                                                     | CUSIP: 842434DD1<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |    605000 | PA      | $615474.49    | 0.21%             | 2055-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                      | WESCO Distribution Inc                                                         | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40950.40     | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARTERA SERVICES LLC                         | Artera Services LLC                                                            | CUSIP: 04302XAA2<br>LEI: 549300J2G34D0WX8Z443 | Long             | DBT              | CORP              | US        |    100000 | PA      | $82814.27     | 0.03%             | 2031-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARETEC GROUP INC                            | ARETEC GROUP INC                                                               | CUSIP: 04009DAH7<br>LEI: 549300NV2T8A33L0PQ58 | Long             | LON              | CORP              | US        |     99749 | PA      | $99920.84     | 0.03%             | 2030-08-09      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                 | Vistra Corp                                                                    | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204143.20    | 0.07%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ARCOS DORADOS BV                            | Arcos Dorados BV                                                               | CUSIP: 03965TAC7<br>LEI: 549300T91OYP6I7P8G39 | Long             | DBT              | CORP              | NL        |    820000 | PA      | $844600.00    | 0.29%             | 2032-01-29      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VAREX IMAGING CORPORATIO                    | Varex Imaging Corp                                                             | CUSIP: 92214XAC0<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |    350000 | PA      | $355096.70    | 0.12%             | 2027-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                       | Belron UK Finance PLC                                                          | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    115000 | PA      | $116079.28    | 0.04%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                     | Sensata Technologies BV                                                        | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    350000 | PA      | $350282.45    | 0.12%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                         | NOVA Chemicals Corp                                                            | CUSIP: 66977WAT6<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $315048.90    | 0.11%             | 2028-11-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                        | IHO Verwaltungs GmbH                                                           | CUSIP: 44963BAG3<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |     45000 | PA      | $46263.24     | 0.02%             | 2032-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                               | AEP Texas Inc                                                                  | CUSIP: 00108WAQ3<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    260000 | PA      | $233628.89    | 0.08%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DSS52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    567291 | PA      | $567141.75    | 0.20%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                  | Arcosa Inc                                                                     | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    425000 | PA      | $409974.21    | 0.14%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS I LLC                        | QTS Issuer ABS I LLC                                                           | CUSIP: 74690DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    470000 | PA      | $472331.20    | 0.16%             | 2055-05-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                    | Performance Food Group Inc                                                     | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199692.44    | 0.07%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                               | AEP Texas Inc                                                                  | CUSIP: 00108WAN0<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    745000 | PA      | $497898.26    | 0.17%             | 2051-05-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CVS PASS-THROUGH TRUST                      | CVS Pass-Through Trust                                                         | CUSIP: 126650BY5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108482 | PA      | $109325.85    | 0.04%             | 2034-01-10      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                       | Tenet Healthcare Corp                                                          | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    400000 | PA      | $403611.60    | 0.14%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                           | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    815000 | PA      | $718259.02    | 0.25%             | 2032-10-20      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                | SM Energy Co                                                                   | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100079.00    | 0.03%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                    | Sinclair Television Group Inc                                                  | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127501.18    | 0.04%             | 2033-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                      | Arizona Public Service Co                                                      | CUSIP: 040555DH4<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |    575000 | PA      | $593731.38    | 0.21%             | 2034-08-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2022-1                                              | CUSIP: 33845VAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    780000 | PA      | $756897.57    | 0.26%             | 2028-03-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31423YVM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1868316 | PA      | $341584.36    | 0.12%             | 2052-10-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                     | Asbury Automotive Group Inc                                                    | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240105.28    | 0.08%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                     | Talen Energy Sup 12/11/31                                                      | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    547250 | PA      | $547836.10    | 0.19%             | 2031-12-15      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| VALLOUREC SACA                              | Vallourec SACA                                                                 | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $211736.60    | 0.07%             | 2032-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GARRETT MOTION HLD/SARL                     | Garrett Motion Holdings Inc / Garrett LX I Sarl                                | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $93399.31     | 0.03%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                          | Osaic Holdings Inc                                                             | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40648.34     | 0.01%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2019-C51                                 | CUSIP: 95001VAZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    460000 | PA      | $380613.52    | 0.13%             | 2052-06-15      | Variable      | 4.29%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                          | Mativ Holdings Inc                                                             | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45090.54     | 0.02%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                            | Berry Global Inc                                                               | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    352000 | PA      | $351524.45    | 0.12%             | 2026-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381HVY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1290701 | PA      | $90558.53     | 0.03%             | 2065-10-16      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                     | Gulfport Energy Operating Corp                                                 | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203251.72    | 0.07%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                     | Australia & New Zealand Banking Group Ltd                                      | CUSIP: 052528AR7<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    610000 | PA      | $624867.68    | 0.22%             | 2034-09-18      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                       | Time Warner Cable LLC                                                          | CUSIP: 88732JAU2<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    635000 | PA      | $650815.93    | 0.23%             | 2039-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                    | Avolon Holdings Funding Ltd                                                    | CUSIP: 05401AAM3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    615000 | PA      | $605345.01    | 0.21%             | 2026-02-21      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2024-NQM9 Trust                                                            | CUSIP: 67119DAA6<br>LEI: 2549004KB8X0K1PPTU08 | Long             | ABS-MBS          | CORP              | US        |    286799 | PA      | $288612.77    | 0.10%             | 2064-01-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                  | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301905.60    | 0.11%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                    | Delta Air Lines Inc / SkyMiles IP Ltd                                          | CUSIP: 830867AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     29375 | PA      | $29303.05     | 0.01%             | 2025-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                                     | CUSIP: 80282KBF2<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    855000 | PA      | $890153.68    | 0.31%             | 2029-03-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR NOTE (CBT)                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        69 | NC      | $29660.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383FAC7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1709685 | PA      | $5164.44      | 0.00%             | 2051-12-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                            | Vital Energy Inc                                                               | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45494.71     | 0.02%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                        | IHO Verwaltungs GmbH                                                           | CUSIP: 44963BAF5<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    500000 | PA      | $513210.50    | 0.18%             | 2030-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                  | CUSIP: 17327CAU7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    400000 | PA      | $391635.13    | 0.14%             | 2039-09-19      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382WBD8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1081500 | PA      | $145427.82    | 0.05%             | 2051-07-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD                    | Transocean Titan Financing Ltd                                                 | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     90476 | PA      | $92724.25     | 0.03%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                              | 1261229 BC Ltd                                                                 | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     70000 | PA      | $71266.22     | 0.02%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| WEEKLEY HOMES LLC/ FINAN                    | Weekley Homes LLC / Weekley Finance Corp                                       | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $144337.10    | 0.05%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                       | Bausch Health Cos Inc                                                          | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $205500.00    | 0.07%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XRQF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    780130 | PA      | $741415.65    | 0.26%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE                    | Compass Group Diversified Holdings LLC                                         | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    130000 | PA      | $120766.63    | 0.04%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                    | Huntington National Bank/The                                                   | CUSIP: 44644MAJ0<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |    631000 | PA      | $653595.69    | 0.23%             | 2030-01-10      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                               | EchoStar Corp                                                                  | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |     85000 | PA      | $89568.75     | 0.03%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd              | Golub Capital Partners CLO 78M                                                 | CUSIP: 381934AC2<br>LEI: 254900PSE4IZIZUH7U62 | Long             | ABS-CBDO         | CORP              | US        |    600000 | PA      | $598981.20    | 0.21%             | 2039-04-21      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                    | Advanced Drainage Systems Inc                                                  | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304533.44    | 0.11%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                    | Virgin Media Secured Finance PLC                                               | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $195509.81    | 0.07%             | 2029-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KNIFE RIVER CORP                            | Knife River Corp                                                               | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $419705.60    | 0.15%             | 2031-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                            | Societe Generale SA                                                            | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    675000 | PA      | $625256.08    | 0.22%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MGIC INVESTMENT CORP                        | MGIC Investment Corp                                                           | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199544.06    | 0.07%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FW2G4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1571381 | PA      | $292564.84    | 0.10%             | 2050-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2024-INV1                                             | CUSIP: 46658PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    547537 | PA      | $551212.33    | 0.19%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EPD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    444372 | PA      | $443080.23    | 0.15%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2014-CCRE20 Mortgage Trust                                                | CUSIP: 12592LAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    790000 | PA      | $594933.20    | 0.21%             | 2047-11-10      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                | AGL CLO 17 Ltd                                                                 | CUSIP: 00120DAL0<br>LEI: 254900ISUA07JPVCOS18 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $700275.10    | 0.24%             | 2035-01-21      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                   | CUSIP: 225401AV0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    550000 | PA      | $569221.05    | 0.20%             | 2028-08-11      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                                     | CUSIP: 80282KBL9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52567.52     | 0.02%             | 2035-05-31      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    542773 | PA      | $455742.88    | 0.16%             | 2060-07-15      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                       | Scotts Miracle-Gro Co/The                                                      | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    150000 | PA      | $136930.70    | 0.05%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PACIFICORP                                  | PacifiCorp                                                                     | CUSIP: 695114DF2<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    470000 | PA      | $481166.84    | 0.17%             | 2055-09-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ELDORADO GOLD CORP                          | Eldorado Gold Corp                                                             | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $49963.07     | 0.02%             | 2029-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                | CUSIP: 37045XDV5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    365000 | PA      | $358406.68    | 0.12%             | 2029-04-06      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                       | Mineral Resources Ltd                                                          | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $261288.05    | 0.09%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                         | Prairie Acquiror LP                                                            | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77684.18     | 0.03%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss              | New Economy Assets - Phase 1 Sponsor LLC                                       | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    865000 | PA      | $674917.37    | 0.24%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA                    | Cooperatieve Rabobank UA                                                       | CUSIP: 74977RDN1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1045000 | PA      | $1029709.63   | 0.36%             | 2028-04-06      | Fixed         | 3.65%                 | No            |                  2 | On Loan: —       |
| VENTURE GLOBAL PLAQUE                       | Venture Global Plaquemines LNG LLC                                             | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51435.28     | 0.02%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                           | Herc Holdings Inc                                                              | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    465000 | PA      | $480594.06    | 0.17%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-2                                     | CUSIP: 30166QAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1065000 | PA      | $985994.25    | 0.34%             | 2029-10-15      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    362842 | PA      | $277512.24    | 0.10%             | 2061-03-15      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                           | Newell Brands Inc                                                              | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96903.95     | 0.03%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                       | QXO Building Products Inc                                                      | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |     80000 | PA      | $82381.92     | 0.03%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PARK-OHIO INDUSTRIES INC                    | Park-Ohio Industries Inc                                                       | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |     65000 | PA      | $62401.30     | 0.02%             | 2030-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                    | Performance Food Group Inc                                                     | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240358.68    | 0.08%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SCIH Salt Holdings Inc                      | SCIH SALT HLDG 01/31/29                                                        | CUSIP: 78397GAF8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    207374 | PA      | $207575.33    | 0.07%             | 2029-01-31      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes                       | Tricon American Homes 2020-SFR1                                                | CUSIP: 89613GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    267897 | PA      | $260062.33    | 0.09%             | 2038-07-17      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132E0W57<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    189280 | PA      | $192733.73    | 0.07%             | 2053-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                     | MPT Operating Partnership LP / MPT Finance Corp                                | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $91740.30     | 0.03%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                            | Puget Energy Inc                                                               | CUSIP: 745310AN2<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    855000 | PA      | $804833.99    | 0.28%             | 2032-03-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                              | AutoNation Inc                                                                 | CUSIP: 05329WAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    313000 | PA      | $310230.04    | 0.11%             | 2030-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                              | Gray Media Inc                                                                 | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49737.03     | 0.02%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                     | Asbury Automotive Group Inc                                                    | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94590.23     | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                       | CUSIP: 53944YAB9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    590000 | PA      | $589650.29    | 0.21%             | 2026-03-24      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| TK Elevator US Newco Inc                    | TK Elevator Midc 04/30/30                                                      | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |     96056 | PA      | $96536.22     | 0.03%             | 2030-04-30      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES                        | Winnebago Industries Inc                                                       | CUSIP: 974637AC4<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |    118000 | PA      | $117163.82    | 0.04%             | 2028-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                     | BPCE SA                                                                        | CUSIP: 05583JAK8<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   1220000 | PA      | $1180641.29   | 0.41%             | 2027-10-19      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                   | News Corp                                                                      | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |    300000 | PA      | $292394.25    | 0.10%             | 2032-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                | CD 2017-CD4 Mortgage Trust                                                     | CUSIP: 12515DAV6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    480000 | PA      | $440489.52    | 0.15%             | 2050-05-10      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRS LLC                    | Saks Global Enterprises LLC                                                    | CUSIP: 79380MAA3<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |    385000 | PA      | $86625.00     | 0.03%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383P8S3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1140036 | PA      | $16315.86     | 0.01%             | 2052-04-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 65342QAL6<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97600.93     | 0.03%             | 2026-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383X4E1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    439824 | PA      | $488073.45    | 0.17%             | 2051-07-20      | Variable      | 7.66%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                    | Citizens Financial Group Inc                                                   | CUSIP: 174610AT2<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    445000 | PA      | $415875.09    | 0.14%             | 2030-04-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                              | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74618.28     | 0.03%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bausch + Lomb Corp                          | Bausch & Lomb TE 12/18/30                                                      | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    100000 | PA      | $100333.30    | 0.03%             | 2031-01-15      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                    | SK Invictus Intermediate II Sarl                                               | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    255000 | PA      | $247892.26    | 0.09%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $243135.03    | 0.08%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                 | Hologic Inc                                                                    | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142044.06    | 0.05%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132E0PK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    197508 | PA      | $201786.89    | 0.07%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                         | Buckeye Partners LP                                                            | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    250000 | PA      | $257348.50    | 0.09%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                           | Newell Brands Inc                                                              | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    115000 | PA      | $109977.78    | 0.04%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381L5D0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    535000 | PA      | $458564.92    | 0.16%             | 2066-03-16      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2017-C40                                 | CUSIP: 95000YAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    635000 | PA      | $535808.75    | 0.19%             | 2050-10-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CALDERYS FINANCING II                       | Calderys Financing II LLC                                                      | CUSIP: 12878AAA9<br>LEI: 254900CB1N9CREDQAK86 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206085.40    | 0.07%             | 2028-06-01      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| ARETEC GROUP INC                            | Aretec Group Inc                                                               | CUSIP: 040133AA8<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125004.38    | 0.04%             | 2029-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                         | Prestige Brands Inc                                                            | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74374.72     | 0.03%             | 2028-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| JACOBS ENTERTAINMENT INC                    | Jacobs Entertainment Inc                                                       | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    160000 | PA      | $156000.00    | 0.05%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                       | Caesars Entertainment Inc                                                      | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70877.53     | 0.02%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XP99<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2154920 | PA      | $225694.67    | 0.08%             | 2051-04-20      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                          | Subway Funding LLC                                                             | CUSIP: 864300AL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    338300 | PA      | $330425.66    | 0.12%             | 2054-07-30      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                                 | Tenneco Inc                                                                    | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248136.46    | 0.09%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                   | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22                    | CUSIP: 61690FAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $562536.00    | 0.20%             | 2048-04-15      | Variable      | 3.98%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                         | Churchill Downs Inc                                                            | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    375000 | PA      | $374501.29    | 0.13%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW ZEALAND                         | Bank of New Zealand                                                            | CUSIP: 064064AB4<br>LEI: N7LGVZM7X4UQ66T7LT74 | Long             | DBT              | CORP              | NZ        |    745000 | PA      | $759867.09    | 0.26%             | 2035-01-28      | Fixed         | 5.70%                 | No            |                  2 | On Loan: —       |
| VEDANTA RESOURCES                           | Vedanta Resources Finance II PLC                                               | CUSIP: 000000000<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    390000 | PA      | $398526.37    | 0.14%             | 2029-09-17      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Blackrock CLO                               | Blackrock Rainier CLO VI Ltd                                                   | CUSIP: 09261MAQ9<br>LEI: 549300HF4E86WXQDUX86 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $400066.80    | 0.14%             | 2037-04-20      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| HUNTSMAN INTERNATIONAL L                    | Huntsman International LLC                                                     | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    865000 | PA      | $822140.38    | 0.29%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                   | Amgen Inc                                                                      | CUSIP: 031162DU1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    725000 | PA      | $695565.48    | 0.24%             | 2063-03-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382ML56<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    682643 | PA      | $103664.93    | 0.04%             | 2050-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383RYT8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2194388 | PA      | $27035.52     | 0.01%             | 2052-05-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA3                                        | CUSIP: 35564KVE6<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |    565000 | PA      | $594370.85    | 0.21%             | 2042-04-25      | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| STAR LEASING CO LLC                         | Star Leasing Co LLC                                                            | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |    280000 | PA      | $276179.79    | 0.10%             | 2030-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CART                                        | CONE Trust 2024-DFW1                                                           | CUSIP: 20682AAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270000 | PA      | $269313.96    | 0.09%             | 2041-08-15      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                     | Jane Street Group / JSG Finance Inc                                            | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61402.86     | 0.02%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REAL HERO MERGER SUB 2                      | Real Hero Merger Sub 2 Inc                                                     | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $103081.04    | 0.04%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                               | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100095.00    | 0.03%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                               | Cable One Inc                                                                  | CUSIP: 12685JAG0<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $77100.00     | 0.03%             | 2028-03-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                           | Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp                | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100962.60    | 0.04%             | 2033-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LSB INDUSTRIES                              | LSB Industries Inc                                                             | CUSIP: 502160AN4<br>LEI: 5493001H215A0HG0MI71 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98302.61     | 0.03%             | 2028-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    512688 | PA      | $389466.25    | 0.14%             | 2060-07-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                   | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    810000 | PA      | $769670.99    | 0.27%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                         | Southern California Edison Co                                                  | CUSIP: 842400HV8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    270000 | PA      | $244490.04    | 0.09%             | 2053-03-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH EDISON CO                      | Commonwealth Edison Co                                                         | CUSIP: 202795JY7<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    335000 | PA      | $315906.44    | 0.11%             | 2053-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136ARD62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1190592 | PA      | $98568.16     | 0.03%             | 2046-04-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                   | CUSIP: 902613AC2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    285000 | PA      | $280318.91    | 0.10%             | 2027-01-30      | Fixed         | 1.36%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2485000 | PA      | $2463644.53   | 0.86%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARS INC                                    | Mars Inc                                                                       | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    615000 | PA      | $620662.41    | 0.22%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALPHA STAR HO IX LTD                        | Alpha Star Holding IX Ltd                                                      | CUSIP: 000000000<br>LEI: 254900IL2SBV9ANGBE89 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $204408.50    | 0.07%             | 2028-08-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                   | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    805000 | PA      | $822384.23    | 0.29%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                    | 1011778 BC ULC / New Red Finance Inc                                           | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    100000 | PA      | $102207.30    | 0.04%             | 2029-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2018-GS10                                         | CUSIP: 36250SAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $656023.95    | 0.23%             | 2051-07-10      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137BBPC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    815415 | PA      | $739194.60    | 0.26%             | 2044-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                     | Algonquin Power & Utilities Corp                                               | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    950000 | PA      | $955036.47    | 0.33%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                    | Moss Creek Resources Holdings Inc                                              | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    325000 | PA      | $317245.79    | 0.11%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                             | Gen Digital Inc                                                                | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55903.64     | 0.02%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2021-R03                                   | CUSIP: 20754AAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    485000 | PA      | $505541.01    | 0.18%             | 2041-12-25      | Floating      | 9.85%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140QNQH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    365563 | PA      | $286365.19    | 0.10%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TK Elevator US Newco Inc                    | TK Elevator Midc 04/30/30                                                      | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    103444 | PA      | $103961.28    | 0.04%             | 2030-04-30      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| FORTREA HOLDINGS INC                        | Fortrea Holdings Inc                                                           | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |     40000 | PA      | $36571.86     | 0.01%             | 2030-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382P5H1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    496486 | PA      | $62500.29     | 0.02%             | 2051-03-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                      | CACI International Inc                                                         | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76690.58     | 0.03%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382PYU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    546404 | PA      | $85524.40     | 0.03%             | 2051-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                                 | CUSIP: 09659W2K9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    440000 | PA      | $409075.47    | 0.14%             | 2031-01-13      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| TIDEWATER INC                               | Tidewater Inc                                                                  | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |    125000 | PA      | $131099.35    | 0.05%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1415873 | PA      | $1345559.12   | 0.47%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STL HOLDING CO LLC                          | STL Holding Co LLC                                                             | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67485.21     | 0.02%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                    | First Quantum Minerals Ltd                                                     | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $317913.30    | 0.11%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                        | Matador Resources Co                                                           | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152456.19    | 0.05%             | 2028-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79438.05     | 0.03%             | 2033-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: —       |
| GATES CORPORATION/DE                        | Gates Corp/DE                                                                  | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205816.00    | 0.07%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                 | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    595000 | PA      | $520857.38    | 0.18%             | 2032-10-20      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                    | United Natural Foods Inc                                                       | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124471.74    | 0.04%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                      | Venture Global LNG Inc                                                         | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62061.48     | 0.02%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| MAXIM CRANE WORKS LLC                       | Maxim Crane Works Holdings Capital LLC                                         | CUSIP: 57779EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $143039.11    | 0.05%             | 2028-09-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                    | Acadia Healthcare Co Inc                                                       | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120786.33    | 0.04%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BMO 2022-C1 Mortgage Trust                  | BMO 2022-C1 Mortgage Trust                                                     | CUSIP: 05609MCJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    840000 | PA      | $761625.48    | 0.27%             | 2055-02-17      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| MARB BONDCO PLC                             | MARB BondCo PLC                                                                | CUSIP: 566007AC4<br>LEI: 254900PVA1EU6QM1JN57 | Long             | DBT              | CORP              | GB        |   1010000 | PA      | $896238.95    | 0.31%             | 2031-01-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HKWJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    526550 | PA      | $524127.63    | 0.18%             | 2055-04-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2025-DNA1                                        | CUSIP: 35564NGA5<br>LEI: 529900WZAMS87JCAOC53 | Long             | ABS-MBS          | CORP              | US        |    455000 | PA      | $454467.65    | 0.16%             | 2045-01-25      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383CYH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1255873 | PA      | $174043.63    | 0.06%             | 2050-11-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US ULTRA BOND CBT                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        82 | NC      | $251367.81    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MCAFEE CORP                                 | McAfee Corp                                                                    | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    125000 | PA      | $115898.64    | 0.04%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                    | EMRLD Borrower LP / Emerald Co-Issuer Inc                                      | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $382353.38    | 0.13%             | 2030-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd              | Golub Capital Partners Clo 49M Ltd                                             | CUSIP: 38181HAE3<br>LEI: 254900NUVOJAHAT10W61 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $750081.00    | 0.26%             | 2038-07-20      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382BJL8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    529948 | PA      | $459699.46    | 0.16%             | 2049-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                        | Noble Finance II LLC                                                           | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $203993.40    | 0.07%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                         | Synchrony Financial                                                            | CUSIP: 87165BAW3<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    850000 | PA      | $855912.74    | 0.30%             | 2031-03-06      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWEQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2542062 | PA      | $2274150.55   | 0.79%             | 2052-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable              | OneMain Direct Auto Receivables Trust 2019-1                                   | CUSIP: 68267EAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    385000 | PA      | $383132.29    | 0.13%             | 2031-04-14      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                           | Newell Brands Inc                                                              | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     75000 | PA      | $78590.51     | 0.03%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $193823.04    | 0.07%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                         | Prestige Brands Inc                                                            | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    200000 | PA      | $183021.22    | 0.06%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Stifel SBA IO Trust                         | Stifel SBA IO Trust Series 2024-1                                              | CUSIP: 86063NAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4180561 | PA      | $147626.08    | 0.05%             | 2050-06-25      | Variable      | 1.27%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPCO                     | Columbia Pipelines Operating Co LLC                                            | CUSIP: 19828TAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1040000 | PA      | $998466.88    | 0.35%             | 2055-02-15      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137H5N86<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    802020 | PA      | $146217.76    | 0.05%             | 2050-09-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY FINANCE LTD                     | Studio City Finance Ltd                                                        | CUSIP: 86389QAG7<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |    490000 | PA      | $453012.89    | 0.16%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                            | DT Midstream Inc                                                               | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $95180.16     | 0.03%             | 2031-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                        | Alpha Generation LLC                                                           | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    225000 | PA      | $230247.68    | 0.08%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                            | CSC Holdings LLC                                                               | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $98607.52     | 0.03%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                    | MajorDrive Holdings IV LLC                                                     | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |     75000 | PA      | $61864.64     | 0.02%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $56324.29     | 0.02%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEOGEN FOOD SAFE CORP                       | Neogen Food Safety Corp                                                        | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $90957.60     | 0.03%             | 2030-07-20      | Fixed         | 8.62%                 | No            |                  2 | On Loan: —       |
| QUIKRETE HOLDINGS INC                       | Quikrete Holdings Inc                                                          | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87178.06     | 0.03%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                      | XPLR Infrastructure Operating Partners LP                                      | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101980.37    | 0.04%             | 2029-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                    | Antero Midstream Partners LP / Antero Midstream Finance Corp                   | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $299537.70    | 0.10%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-25

**Name of Applicant:** New York Life Investments Active ETF Trust

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

**Title:** Director and Vice President, IndexIQ