# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0000940400-26-011516
**Filing Date:** 2026-3
**Character Count:** 264612
**Document Hash:** 0dc20e88f7b2e4b6a568c294f59aac8b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-011516.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0000940400-26-011516

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260325

**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:** 26792932

**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 Securitized Income ETF (Series ID: S000084196)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000248469 | NYLI MacKay Securitized Income ETF | SECR            |

## Nport-Ex

Schedule of Investments ─ NYLI MacKay Securitized Income ETF

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Long-Term Bonds — 99.9%** | **Long-Term Bonds — 99.9%** | **Long-Term Bonds — 99.9%** |
| **Collateralized Loan Obligations — 2.9%** |  |  |
| AGL CLO 17 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2022-17A BR |  |  |
| &nbsp;&nbsp;&nbsp;5.070%, (3 Month CME SOFR + 1.40%), due 1/21/35<sup>(a)</sup> | $400000 | $400088 |
| AGL CLO 32 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2024-32A A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, (3 Month CME SOFR + 1.38%), due 7/21/37<sup>(a)</sup> | 250000 | 250767 |
| AGL CLO 35 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2024-35A A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.220%, (3 Month CME SOFR + 1.55%), due 1/21/38<sup>(a)</sup> | 250000 | 250641 |
| AIMCO CLO Series, (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2018-AA B1R |  |  |
| &nbsp;&nbsp;&nbsp;5.532%, (3 Month CME SOFR + 1.65%), due 10/17/37<sup>(a)</sup> | 300000 | 300956 |
| Apidos CLO LI Ltd., (Jersey) |  |  |
| &nbsp;&nbsp;Series 2024-51A B |  |  |
| &nbsp;&nbsp;&nbsp;5.218%, (3 Month CME SOFR + 1.55%), due 1/20/38<sup>(a)</sup> | 250000 | 250563 |
| Ares Direct Lending CLO 3 LLC |  |  |
| &nbsp;&nbsp;Series 2024-3A A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.418%, (3 Month CME SOFR + 1.75%), due 1/20/37<sup>(a)</sup> | 250000 | 250226 |
| Bain Capital Credit CLO Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2021-6A DR |  |  |
| &nbsp;&nbsp;&nbsp;6.620%, (3 Month CME SOFR + 2.95%), due 10/21/34<sup>(a)</sup> | 250000 | 246970 |
| BCC Middle Market CLO LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.290%, (3 Month CME SOFR + 1.62%), due 7/17/37<sup>(a)</sup> | 275000 | 276344 |
| Blackrock Rainier CLO VI Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2021-6A A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.218%, (3 Month CME SOFR + 1.55%), due 4/20/37<sup>(a)</sup> | 250000 | 250842 |
| Fortress Credit Opportunities XXI CLO LLC |  |  |
| &nbsp;&nbsp;Series 2023-21A A1TR |  |  |
| &nbsp;&nbsp;&nbsp;5.240%, (3 Month CME SOFR + 1.57%), due 1/21/37<sup>(a)</sup> | 300000 | 300929 |
| Golub Capital Partners CLO 76 B Ltd., (Jersey) |  |  |
| &nbsp;&nbsp;Series 2024-76A A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.038%, (3 Month CME SOFR + 1.37%), due 10/25/37<sup>(a)</sup> | 250000 | 250507 |
| Great Lakes CLO Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2019-1A ARR |  |  |
| &nbsp;&nbsp;&nbsp;5.152%, (3 Month CME SOFR + 1.48%), due 4/15/37<sup>(a)</sup> | 340000 | 340905 |
| OCP CLO Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2017-14A A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.038%, (3 Month CME SOFR + 1.37%), due 7/20/37<sup>(a)</sup> | 250000 | 250764 |
| Owl Rock CLO XX LLC, (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2024-20A C |  |  |
| &nbsp;&nbsp;&nbsp;5.768%, (3 Month CME SOFR + 2.10%), due 10/24/34<sup>(a)</sup> | 250000 | 250681 |
| Signal Peak CLO 12 Ltd., (Jersey) |  |  |
| &nbsp;&nbsp;Series 2022-12A A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.068%, (3 Month CME SOFR + 1.40%), due 7/18/37<sup>(a)</sup> | 250000 | 250685 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Loan Obligations (continued)** |  |  |
| Silver Point SCF CLO IV Ltd. |  |  |
| &nbsp;&nbsp;Series 2021-1A A2R |  |  |
| &nbsp;&nbsp;&nbsp;5.622%, (3 Month CME SOFR + 1.95%), due 10/15/36<sup>(a)</sup> | $250000 | $251137 |
| Texas Debt Capital CLO Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2024-2A B |  |  |
| &nbsp;&nbsp;&nbsp;5.368%, (3 Month CME SOFR + 1.70%), due 1/24/37<sup>(a)</sup> | 250000 | 251812 |
| **Total Collateralized Loan Obligations** |  |  |
| &nbsp;&nbsp;**(Cost $4,614,500)** |  | 4624817 |
| **Collateralized Mortgage Obligations — 18.9%** |  |  |
| **Mortgage Securities — 18.9%** |  |  |
| Agate Bay Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2015-5 B3 |  |  |
| &nbsp;&nbsp;&nbsp;3.574%, due 7/25/45<sup>(a)(b)</sup> | 30122 | 24514 |
| Alternative Loan Trust |  |  |
| &nbsp;&nbsp;Series 2005-IM1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.387%, (1 Month CME SOFR + 0.71%), due 1/25/36<sup>(a)</sup> | 125524 | 116882 |
| Banc of America Alternative Loan Trust |  |  |
| &nbsp;&nbsp;Series 2005-11 1CB5 |  |  |
| &nbsp;&nbsp;5.500%, due 12/25/35 | 37198 | 34001 |
| Banc of America Funding Trust |  |  |
| &nbsp;&nbsp;Series 2006-I 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.170%, (1 Month CME SOFR + 0.49%), due 12/20/46<sup>(a)</sup> | 29661 | 26874 |
| Banc of America Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2005-A 2A3 |  |  |
| &nbsp;&nbsp;&nbsp;4.910%, due 2/25/35<sup>(a)(b)</sup> | 15784 | 15414 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;Series 2024-NQM8 A1A |  |  |
| &nbsp;&nbsp;4.300%, due 8/1/53 | 259989 | 257791 |
| Chase Mortgage Finance Trust |  |  |
| &nbsp;&nbsp;Series 2005-S3 A14 |  |  |
| &nbsp;&nbsp;5.500%, due 11/25/35 | 46201 | 32139 |
| Chevy Chase Funding LLC Mortgage-Backed Certificates |  |  |
| &nbsp;&nbsp;Series 2005-AA A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.037%, (1 Month CME SOFR + 0.36%), due 1/25/36<sup>(a)</sup> | 24300 | 23378 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;Series 2005-9 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.387%, (1 Month CME SOFR + 0.71%), due 5/25/35<sup>(a)</sup> | 64299 | 57443 |
| CIM Trust |  |  |
| &nbsp;&nbsp;Series 2019-INV1 B4 |  |  |
| &nbsp;&nbsp;&nbsp;5.026%, due 2/25/49<sup>(a)(b)</sup> | 342503 | 338252 |
| &nbsp;&nbsp;Series 2021-J2 AIOS |  |  |
| &nbsp;&nbsp;&nbsp;0.210%, due 4/25/51<sup>(a)(b)(c)</sup> | 1516229 | 18833 |
| &nbsp;&nbsp;Series 2021-J3 A31 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 6/25/51<sup>(a)(b)</sup> | 112004 | 93453 |
| &nbsp;&nbsp;Series 2025-NR1 A1 |  |  |
| &nbsp;&nbsp;5.000%, due 6/25/64 | 249076 | 248983 |
| Citigroup Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;Series 2014-C B3 |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, due 2/25/54<sup>(a)(b)</sup> | 640000 | 550618 |
| &nbsp;&nbsp;Series 2025-4 A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 10/25/55<sup>(a)(b)</sup> | 265504 | 267153 |
| Citigroup Mortgage Loan Trust 2025-LTV1 |  |  |
| &nbsp;&nbsp;Series 2025-LTV1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.237%, due 12/25/55<sup>(a)(b)</sup> | 486683 | 487648 |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Mortgage Obligations (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Connecticut Avenue Securities |  |  |
| &nbsp;&nbsp;Series 2025-R01 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;5.397%, (1 Month SOFR + 1.70%), due 1/25/45<sup>(a)</sup> | $410000 | $408722 |
| Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;Series 2019-HRP1 B1 |  |  |
| &nbsp;&nbsp;&nbsp;13.062%, (1 Month SOFR + 9.36%), due 11/25/39<sup>(a)</sup> | 279725 | 295310 |
| &nbsp;&nbsp;Series 2020-SBT1 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;10.562%, (1 Month SOFR + 6.86%), due 2/25/40<sup>(a)</sup> | 715000 | 750528 |
| &nbsp;&nbsp;Series 2022-R01 1B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.697%, (1 Month SOFR + 6.00%), due 12/25/41<sup>(a)</sup> | 300000 | 311305 |
| &nbsp;&nbsp;Series 2022-R02 2B2 |  |  |
| &nbsp;&nbsp;&nbsp;11.347%, (1 Month SOFR + 7.65%), due 1/25/42<sup>(a)</sup> | 685000 | 724197 |
| &nbsp;&nbsp;Series 2022-R08 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;9.297%, (1 Month SOFR + 5.60%), due 7/25/42<sup>(a)</sup> | 95000 | 100997 |
| &nbsp;&nbsp;Series 2024-R02 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.197%, (1 Month SOFR + 2.50%), due 2/25/44<sup>(a)</sup> | 65000 | 66559 |
| &nbsp;&nbsp;Series 2024-R03 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;5.647%, (1 Month SOFR + 1.95%), due 3/25/44<sup>(a)</sup> | 395000 | 399189 |
| &nbsp;&nbsp;Series 2024-R05 2B1 |  |  |
| &nbsp;&nbsp;&nbsp;5.697%, (1 Month SOFR + 2.00%), due 7/25/44<sup>(a)</sup> | 500000 | 500314 |
| CSMC |  |  |
| &nbsp;&nbsp;Series 2021-NQM2 A2 |  |  |
| &nbsp;&nbsp;&nbsp;1.384%, due 2/25/66<sup>(a)(b)</sup> | 395725 | 358625 |
| DLIC Re-REMIC Trust 2025-FRR1 |  |  |
| &nbsp;&nbsp;Series 2025-FRR1 C104 |  |  |
| &nbsp;&nbsp;&nbsp;1.635%, due 12/27/52<sup>(a)(b)</sup> | 495000 | 418181 |
| Flagstar Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2021-6INV A18 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 8/25/51<sup>(a)(b)</sup> | 137897 | 115196 |
| &nbsp;&nbsp;Series 2021-9INV A7 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 9/25/41<sup>(a)(b)</sup> | 999689 | 904520 |
| GS Mortage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;Series 2020-PJ1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 5/25/50<sup>(a)(b)</sup> | 310441 | 281850 |
| GS Mortgage-Backed Securities Corp. Trust |  |  |
| &nbsp;&nbsp;Series 2022-PJ4 A4 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 9/25/52<sup>(a)(b)</sup> | 1554226 | 1305550 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;Series 2022-PJ3 A4 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 8/25/52<sup>(a)(b)</sup> | 916025 | 769461 |
| &nbsp;&nbsp;Series 2023-PJ1 A4 |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 2/25/53<sup>(a)(b)</sup> | 1332582 | 1217164 |
| GS Mortgage-Backed Securities Trust 2022-HP1 |  |  |
| &nbsp;&nbsp;Series 2022-HP1 B4 |  |  |
| &nbsp;&nbsp;&nbsp;3.310%, due 9/25/52<sup>(a)(b)</sup> | 501597 | 420985 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;Series 2005-2 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.230%, (1 Month CME SOFR + 0.55%), due 5/19/35<sup>(a)</sup> | 62048 | 60337 |
| IndyMac INDX Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;Series 2005-AR12 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.267%, (1 Month CME SOFR + 0.59%), due 7/25/35<sup>(a)</sup> | 70141 | 65972 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Mortgage Obligations (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| J.P. Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2019-8 A11 |  |  |
| &nbsp;&nbsp;&nbsp;4.637%, (1 Month CME SOFR + 0.96%), due 3/25/50<sup>(a)</sup> | $10703 | $10486 |
| &nbsp;&nbsp;Series 2021-11 A3 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 1/25/52<sup>(a)(b)</sup> | 1349342 | 1133413 |
| &nbsp;&nbsp;Series 2021-11 AX1 |  |  |
| &nbsp;&nbsp;&nbsp;0.219%, due 1/25/52<sup>(a)(b)(c)</sup> | 10554537 | 134140 |
| &nbsp;&nbsp;Series 2021-12 A3 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 2/25/52<sup>(a)(b)</sup> | 1095836 | 920475 |
| &nbsp;&nbsp;Series 2021-4 B1 |  |  |
| &nbsp;&nbsp;&nbsp;2.879%, due 8/25/51<sup>(a)(b)</sup> | 939352 | 794639 |
| &nbsp;&nbsp;Series 2022-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 7/25/52<sup>(a)(b)</sup> | 727054 | 610725 |
| &nbsp;&nbsp;Series 2022-1 B3 |  |  |
| &nbsp;&nbsp;&nbsp;3.085%, due 7/25/52<sup>(a)(b)</sup> | 478457 | 394687 |
| &nbsp;&nbsp;Series 2024-INV1 A4 |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 4/25/55<sup>(a)(b)</sup> | 466714 | 474126 |
| J.P. Morgan Mortgage Trust Series 2025-NQM4 |  |  |
| &nbsp;&nbsp;Series 2025-NQM4 A1F |  |  |
| &nbsp;&nbsp;&nbsp;4.897%, (1 Month SOFR + 1.20%), due 3/25/66<sup>(a)</sup> | 400646 | 401436 |
| LOANDEPOT GMSR Master Trust |  |  |
| &nbsp;&nbsp;Series 2025-GT2 A |  |  |
| &nbsp;&nbsp;&nbsp;6.823%, (1 Month CME SOFR + 3.15%), due 7/16/30<sup>(a)</sup> | 520000 | 524050 |
| Mello Mortgage Capital Acceptance |  |  |
| &nbsp;&nbsp;Series 2021-MTG1 A19 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 4/25/51<sup>(a)(b)</sup> | 105023 | 87628 |
| Merrill Lynch Mortgage Investors Trust |  |  |
| &nbsp;&nbsp;Series 2004-F B1 |  |  |
| &nbsp;&nbsp;&nbsp;5.243%, due 12/25/29<sup>(a)(b)</sup> | 49414 | 43409 |
| Mill City Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;Series 2018-3 B2 |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, due 8/25/58<sup>(a)(b)</sup> | 728447 | 563432 |
| &nbsp;&nbsp;Series 2018-4 B4 |  |  |
| &nbsp;&nbsp;&nbsp;3.045%, due 4/25/66<sup>(a)(b)</sup> | 414516 | 247375 |
| Multifamily Connecticut Avenue Securities Trust |  |  |
| &nbsp;&nbsp;Series 2019-01 B10 |  |  |
| &nbsp;&nbsp;&nbsp;9.312%, (1 Month SOFR + 5.61%), due 10/25/49<sup>(a)</sup> | 435000 | 443553 |
| &nbsp;&nbsp;Series 2020-01 CE |  |  |
| &nbsp;&nbsp;&nbsp;11.312%, (1 Month SOFR + 7.61%), due 3/25/50<sup>(a)</sup> | 115000 | 118913 |
| &nbsp;&nbsp;Series 2025-01 B1 |  |  |
| &nbsp;&nbsp;&nbsp;8.897%, (1 Month SOFR + 5.20%), due 5/25/55<sup>(a)</sup> | 590000 | 613280 |
| New Residential Mortgage Loan Trust 2024-RPL1 |  |  |
| &nbsp;&nbsp;Series 2024-RPL1 B1 |  |  |
| &nbsp;&nbsp;&nbsp;3.873%, due 1/25/64<sup>(a)(b)</sup> | 372000 | 315809 |
| OBX 2025-R1 Trust |  |  |
| &nbsp;&nbsp;Series 2025-R1 A1 |  |  |
| &nbsp;&nbsp;4.940%, due 9/25/62 | 567113 | 569220 |
| OBX 2026-J1 Trust |  |  |
| &nbsp;&nbsp;Series 2026-J1 AF |  |  |
| &nbsp;&nbsp;&nbsp;5.039%, (1 Month SOFR + 1.35%), due 2/25/56<sup>(a)</sup> | 385000 | 384961 |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Mortgage Obligations (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| OBX Trust |  |  |
| &nbsp;&nbsp;Series 2019-INV2 A5 |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 5/27/49<sup>(a)(b)</sup> | $31311 | $29516 |
| &nbsp;&nbsp;Series 2022-J1 A14 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 2/25/52<sup>(a)(b)</sup> | 1053230 | 878789 |
| Provident Funding Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2021-INV1 B2 |  |  |
| &nbsp;&nbsp;&nbsp;2.778%, due 8/25/51<sup>(a)(b)</sup> | 589784 | 495514 |
| RALI Trust |  |  |
| &nbsp;&nbsp;Series 2005-QO3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.587%, (1 Month CME SOFR + 0.91%), due 10/25/45<sup>(a)</sup> | 87175 | 60349 |
| &nbsp;&nbsp;Series 2007-QO3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.107%, (1 Month CME SOFR + 0.43%), due 3/25/47<sup>(a)</sup> | 82109 | 77703 |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2021-5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 11/25/51<sup>(a)(b)</sup> | 4241321 | 3560059 |
| &nbsp;&nbsp;Series 2022-2 A2 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 2/25/52<sup>(a)(b)</sup> | 463120 | 388129 |
| Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2023-2 B2 |  |  |
| &nbsp;&nbsp;&nbsp;5.004%, due 3/25/53<sup>(a)(b)</sup> | 420832 | 399645 |
| &nbsp;&nbsp;Series 2025-S1 A7 |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 9/25/54<sup>(a)(b)</sup> | 500000 | 338358 |
| STACR Trust |  |  |
| &nbsp;&nbsp;Series 2018-HRP1 B2 |  |  |
| &nbsp;&nbsp;&nbsp;15.562%, (1 Month SOFR + 11.86%), due 5/25/43<sup>(a)</sup> | 523629 | 617060 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2017-4 B5 |  |  |
| &nbsp;&nbsp;&nbsp;3.643%, due 6/25/57<sup>(a)(b)</sup> | 249771 | 176838 |
| &nbsp;&nbsp;Series 2018-2 B5 |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, due 3/25/58<sup>(a)(b)</sup> | 1216969 | 539220 |
| &nbsp;&nbsp;Series 2019-1 B2 |  |  |
| &nbsp;&nbsp;&nbsp;3.779%, due 3/25/58<sup>(a)(b)</sup> | 815000 | 637222 |
| UWM Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2021-INV5 A14 |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 1/25/52<sup>(a)(b)</sup> | 561206 | 486934 |
| Verus Securitization Trust 2025-R2 |  |  |
| &nbsp;&nbsp;Series 2025-R2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.086%, due 7/25/67<sup>(a)(b)</sup> | 391356 | 394333 |
| Verus Securitization Trust 2026-R1 |  |  |
| &nbsp;&nbsp;Series 2026-R1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.832%, due 10/25/67<sup>(a)(b)</sup> | 400000 | 400398 |
| WaMu Mortgage Pass-Through Certificates Trust |  |  |
| &nbsp;&nbsp;Series 2002-AR17 1A |  |  |
| &nbsp;&nbsp;&nbsp;4.868%, (Federal Reserve US 12 mo. Cumulative Avg 1 yr. CMT + 1.20%), due 11/25/42<sup>(a)</sup> | 19549 | 18920 |
| &nbsp;&nbsp;Series 2004-AR12 A2B |  |  |
| &nbsp;&nbsp;&nbsp;4.707%, (1 Month CME SOFR + 1.03%), due 10/25/44<sup>(a)</sup> | 51265 | 50698 |
| &nbsp;&nbsp;Series 2004-AR8 A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.627%, (1 Month CME SOFR + 0.95%), due 6/25/44<sup>(a)</sup> | 80046 | 80899 |
| &nbsp;&nbsp;Series 2005-AR16 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.326%, due 12/25/35<sup>(a)(b)</sup> | 55109 | 50497 |
| &nbsp;&nbsp;Series 2005-AR6 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.247%, (1 Month CME SOFR + 0.57%), due 4/25/45<sup>(a)</sup> | 47008 | 45787 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Collateralized Mortgage Obligations (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust |  |  |
| &nbsp;&nbsp;Series 2005-8 2CB3 |  |  |
| &nbsp;&nbsp;&nbsp;4.197%, (1 Month CME SOFR + 0.52%), due 10/25/35<sup>(a)</sup> | $29166 | $27870 |
| **Total Collateralized Mortgage Obligations** |  |  |
| &nbsp;&nbsp;**(Cost $30,165,652)** |  | 30608833 |
| **Commercial Asset-Backed Securities — 15.6%** |  |  |
| **Asset Backed Securities — 15.6%** |  |  |
| Ally Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;Series 2024-B G |  |  |
| &nbsp;&nbsp;11.395%, due 9/15/32 | 445097 | 457115 |
| Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;Series 2023-5A D |  |  |
| &nbsp;&nbsp;7.350%, due 4/20/28 | 245000 | 248794 |
| &nbsp;&nbsp;Series 2023-8A D |  |  |
| &nbsp;&nbsp;7.520%, due 2/20/30 | 495000 | 511906 |
| Bayview Opportunity Master Fund VII LLC |  |  |
| &nbsp;&nbsp;Series 2024-EDU1 D |  |  |
| &nbsp;&nbsp;&nbsp;6.447%, (1 Month SOFR + 2.75%), due 6/25/47<sup>(a)</sup> | 56153 | 56993 |
| Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;Series 2024-1 C |  |  |
| &nbsp;&nbsp;5.650%, due 4/16/29 | 250000 | 252253 |
| &nbsp;&nbsp;Series 2024-1 D |  |  |
| &nbsp;&nbsp;6.030%, due 11/15/29 | 780000 | 795338 |
| &nbsp;&nbsp;Series 2025-2 D |  |  |
| &nbsp;&nbsp;5.620%, due 3/17/31 | 390000 | 397129 |
| &nbsp;&nbsp;Series 2025-3 E |  |  |
| &nbsp;&nbsp;6.620%, due 5/17/32 | 600000 | 604796 |
| Bridgecrest Lending Auto Securitization Trust 2026-1 |  |  |
| &nbsp;&nbsp;Series 2026-1 D |  |  |
| &nbsp;&nbsp;4.990%, due 11/17/31 | 375000 | 376264 |
| CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;Series 2024-1 C |  |  |
| &nbsp;&nbsp;5.470%, due 8/15/29 | 80000 | 81769 |
| &nbsp;&nbsp;Series 2024-3 C |  |  |
| &nbsp;&nbsp;5.280%, due 3/15/30 | 485000 | 495966 |
| CarMax Select Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2024-A D |  |  |
| &nbsp;&nbsp;6.270%, due 12/16/30 | 365000 | 376146 |
| &nbsp;&nbsp;Series 2025-A D |  |  |
| &nbsp;&nbsp;5.860%, due 7/15/31 | 305000 | 312257 |
| &nbsp;&nbsp;Series 2025-B D |  |  |
| &nbsp;&nbsp;5.330%, due 7/15/31 | 410000 | 413925 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2020-1 A1 |  |  |
| &nbsp;&nbsp;1.690%, due 7/15/60 | 447767 | 376249 |
| &nbsp;&nbsp;Series 2020-1 A2 |  |  |
| &nbsp;&nbsp;1.990%, due 7/15/60 | 389522 | 327130 |
| &nbsp;&nbsp;Series 2020-1 B1 |  |  |
| &nbsp;&nbsp;2.280%, due 7/15/60 | 422742 | 266368 |
| &nbsp;&nbsp;Series 2021-1A B1 |  |  |
| &nbsp;&nbsp;1.980%, due 3/15/61 | 438238 | 267717 |
| Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;6.000%, due 5/20/55 | 400000 | 409591 |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Asset-Backed Securities (continued)** |  |  |
| **Asset Backed Securities (continued)** |  |  |
| DataBank Issuer II LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;5.180%, due 9/27/55 | $160000 | $157393 |
| Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2024-1 C |  |  |
| &nbsp;&nbsp;5.430%, due 11/17/31 | 75000 | 75982 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2022-2A E |  |  |
| &nbsp;&nbsp;6.340%, due 10/15/29 | 375000 | 366265 |
| &nbsp;&nbsp;Series 2025-3A D |  |  |
| &nbsp;&nbsp;5.570%, due 10/15/31 | 275000 | 280558 |
| &nbsp;&nbsp;Series 2025-4A D |  |  |
| &nbsp;&nbsp;5.230%, due 1/15/32 | 435000 | 438390 |
| &nbsp;&nbsp;Series 2025-4A E |  |  |
| &nbsp;&nbsp;6.990%, due 4/15/33 | 295000 | 298357 |
| Exeter Select Automobile Receivables Trust 2025-3 |  |  |
| &nbsp;&nbsp;Series 2025-3 D |  |  |
| &nbsp;&nbsp;5.540%, due 5/17/32 | 400000 | 404082 |
| First Investors Auto Owner Trust |  |  |
| &nbsp;&nbsp;Series 2023-1A D |  |  |
| &nbsp;&nbsp;7.740%, due 1/15/31 | 285000 | 297744 |
| Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;Series 2021-1 D |  |  |
| &nbsp;&nbsp;1.270%, due 3/15/27 | 52232 | 51888 |
| &nbsp;&nbsp;Series 2021-2 D |  |  |
| &nbsp;&nbsp;1.590%, due 6/15/27 | 68394 | 67574 |
| &nbsp;&nbsp;Series 2021-2 E |  |  |
| &nbsp;&nbsp;3.160%, due 9/15/28 | 410000 | 399845 |
| &nbsp;&nbsp;Series 2021-3 D |  |  |
| &nbsp;&nbsp;1.650%, due 9/15/27 | 514000 | 504617 |
| &nbsp;&nbsp;Series 2021-3 E |  |  |
| &nbsp;&nbsp;3.320%, due 12/15/28 | 650000 | 598928 |
| &nbsp;&nbsp;Series 2021-4 C |  |  |
| &nbsp;&nbsp;1.960%, due 12/15/27 | 11442 | 11378 |
| &nbsp;&nbsp;Series 2022-1 D |  |  |
| &nbsp;&nbsp;3.640%, due 3/15/28 | 335000 | 325364 |
| &nbsp;&nbsp;Series 2022-2 D |  |  |
| &nbsp;&nbsp;5.800%, due 4/17/28 | 505000 | 453828 |
| &nbsp;&nbsp;Series 2024-1 C |  |  |
| &nbsp;&nbsp;5.790%, due 2/15/30 | 345000 | 345497 |
| GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;Series 2024-2A D |  |  |
| &nbsp;&nbsp;6.190%, due 2/15/30 | 700000 | 718529 |
| &nbsp;&nbsp;Series 2025-1A D |  |  |
| &nbsp;&nbsp;5.610%, due 11/15/30 | 610000 | 620475 |
| GLS Auto Receivables Issuer Trust 2022-2 |  |  |
| &nbsp;&nbsp;Series 2022-2A E |  |  |
| &nbsp;&nbsp;5.500%, due 6/15/29 | 310000 | 311736 |
| GMF Floorplan Owner Revolving Trust |  |  |
| &nbsp;&nbsp;Series 2023-2 A |  |  |
| &nbsp;&nbsp;5.340%, due 6/15/30 | 100000 | 103089 |
| Hertz Vehicle Financing III LLC |  |  |
| &nbsp;&nbsp;Series 2025-3A D |  |  |
| &nbsp;&nbsp;8.550%, due 12/26/29 | 445000 | 463721 |
| &nbsp;&nbsp;Series 2025-6A D |  |  |
| &nbsp;&nbsp;8.300%, due 5/25/32 | 515000 | 525720 |
| Huntington Bank Auto Credit-Linked Notes Series 2024-2 |  |  |
| &nbsp;&nbsp;Series 2024-2 E |  |  |
| &nbsp;&nbsp;&nbsp;11.203%, (1 Month SOFR + 7.50%), due 10/20/32<sup>(a)</sup> | 453574 | 458311 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Asset-Backed Securities (continued)** |  |  |
| **Asset Backed Securities (continued)** |  |  |
| Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2024-B C |  |  |
| &nbsp;&nbsp;5.290%, due 10/15/31 | $210000 | $215827 |
| Kinetic ABS Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2026-1A A2 |  |  |
| &nbsp;&nbsp;5.219%, due 2/25/56 | 395000 | 395247 |
| LAD Auto Receivables Trust |  |  |
| &nbsp;&nbsp;Series 2024-1A D |  |  |
| &nbsp;&nbsp;6.150%, due 6/16/31 | 100000 | 102986 |
| &nbsp;&nbsp;Series 2024-2A D |  |  |
| &nbsp;&nbsp;6.370%, due 10/15/31 | 430000 | 444087 |
| &nbsp;&nbsp;Series 2024-3A D |  |  |
| &nbsp;&nbsp;5.180%, due 2/17/32 | 565000 | 570168 |
| &nbsp;&nbsp;Series 2025-2A D |  |  |
| &nbsp;&nbsp;5.010%, due 12/15/32 | 380000 | 381781 |
| Long Beach Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;Series 2004-3 M1 |  |  |
| &nbsp;&nbsp;&nbsp;4.642%, (1 Month CME SOFR + 0.97%), due 7/25/34<sup>(a)</sup> | 95550 | 96193 |
| Magnetite 50 Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2025-50A A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.948%, (3 Month CME SOFR + 1.28%), due 7/25/38<sup>(a)</sup> | 300000 | 300759 |
| New Economy Assets Phase 1 Sponsor LLC |  |  |
| &nbsp;&nbsp;Series 2021-1 A1 |  |  |
| &nbsp;&nbsp;1.910%, due 10/20/61 | 285000 | 239362 |
| &nbsp;&nbsp;Series 2021-1 B1 |  |  |
| &nbsp;&nbsp;2.410%, due 10/20/61 | 525000 | 331363 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;Series 2025-SFR3 D |  |  |
| &nbsp;&nbsp;3.390%, due 7/17/42 | 355000 | 327004 |
| &nbsp;&nbsp;Series 2025-SFR4 C |  |  |
| &nbsp;&nbsp;5.050%, due 8/17/42 | 440000 | 438029 |
| QTS Issuer ABS II LLC |  |  |
| &nbsp;&nbsp;Series 2026-1A B |  |  |
| &nbsp;&nbsp;6.729%, due 1/5/56 | 450000 | 454764 |
| Regatta 30 Funding Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2024-4A B |  |  |
| &nbsp;&nbsp;&nbsp;5.318%, (3 Month CME SOFR + 1.65%), due 1/25/38<sup>(a)</sup> | 300000 | 301769 |
| Regatta XI Funding Ltd., (Cayman Islands) |  |  |
| &nbsp;&nbsp;Series 2018-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;5.068%, (3 Month CME SOFR + 1.40%), due 7/17/37<sup>(a)</sup> | 250000 | 250798 |
| RIN V LLC |  |  |
| &nbsp;&nbsp;Series 2023-2A A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.007%, (3 Month CME SOFR + 1.34%), due 10/14/36<sup>(a)</sup> | 350000 | 349992 |
| Shentel Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;5.640%, due 12/20/55 | 480000 | 487650 |
| SoFi Consumer Loan Program Trust |  |  |
| &nbsp;&nbsp;Series 2025-1 B |  |  |
| &nbsp;&nbsp;5.120%, due 2/27/34 | 370000 | 375902 |
| Structured Asset Investment Loan Trust |  |  |
| &nbsp;&nbsp;Series 2004-8 A6 |  |  |
| &nbsp;&nbsp;&nbsp;4.587%, (1 Month CME SOFR + 0.91%), due 9/25/34<sup>(a)</sup> | 98597 | 96504 |
| Subway Funding LLC |  |  |
| &nbsp;&nbsp;Series 2024-1A A2I |  |  |
| &nbsp;&nbsp;6.028%, due 7/30/54 | 351450 | 356081 |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Asset-Backed Securities (continued)** |  |  |
| **Asset Backed Securities (continued)** |  |  |
| Toyota Auto Loan Extended Note Trust |  |  |
| &nbsp;&nbsp;Series 2023-1A A |  |  |
| &nbsp;&nbsp;4.930%, due 6/25/36 | $100000 | $102222 |
| Tricon American Homes |  |  |
| &nbsp;&nbsp;Series 2020-SFR1 C |  |  |
| &nbsp;&nbsp;2.249%, due 7/17/38 | 335000 | 330974 |
| &nbsp;&nbsp;Series 2020-SFR1 D |  |  |
| &nbsp;&nbsp;2.548%, due 7/17/38 | 460000 | 454528 |
| Vantage Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2021-1A A2 |  |  |
| &nbsp;&nbsp;2.165%, due 10/15/46 | 585000 | 574670 |
| Zayo Issuer LLC |  |  |
| &nbsp;&nbsp;Series 2025-1A B |  |  |
| &nbsp;&nbsp;6.088%, due 3/20/55 | 470000 | 478350 |
| &nbsp;&nbsp;Series 2025-2A A2 |  |  |
| &nbsp;&nbsp;5.953%, due 6/20/55 | 475000 | 487670 |
| &nbsp;&nbsp;Series 2025-3A A2 |  |  |
| &nbsp;&nbsp;5.570%, due 10/20/55 | 485000 | 488045 |
| &nbsp;&nbsp;Series 2025-3A C |  |  |
| &nbsp;&nbsp;8.435%, due 10/20/55 | 470000 | 492970 |
| **Total Commercial Asset-Backed Securities** |  |  |
| &nbsp;&nbsp;**(Cost $25,350,541)** |  | 25232672 |
| **Commercial Mortgage-Backed Securities — 17.5%** |  |  |
| **Mortgage Securities — 17.5%** |  |  |
| 1301 Trust 2025-AOA |  |  |
| &nbsp;&nbsp;Series 2025-1301 D |  |  |
| &nbsp;&nbsp;&nbsp;6.223%, due 8/11/42<sup>(a)(b)</sup> | 385000 | 393911 |
| BAMLL Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2016-ISQ A |  |  |
| &nbsp;&nbsp;2.848%, due 8/14/34 | 495000 | 411469 |
| BAMLL Commercial Mortgage Securities Trust 2014-520M |  |  |
| &nbsp;&nbsp;Series 2014-520M A |  |  |
| &nbsp;&nbsp;&nbsp;4.185%, due 8/15/46<sup>(a)(b)</sup> | 375000 | 344011 |
| BANK |  |  |
| &nbsp;&nbsp;Series 2017-BNK4 C |  |  |
| &nbsp;&nbsp;&nbsp;4.372%, due 5/15/50<sup>(a)(b)</sup> | 255000 | 226356 |
| &nbsp;&nbsp;Series 2017-BNK6 D |  |  |
| &nbsp;&nbsp;3.100%, due 7/15/60 | 470000 | 407117 |
| &nbsp;&nbsp;Series 2017-BNK7 C |  |  |
| &nbsp;&nbsp;&nbsp;3.972%, due 9/15/60<sup>(a)(b)</sup> | 440000 | 396723 |
| &nbsp;&nbsp;Series 2019-BN19 B |  |  |
| &nbsp;&nbsp;3.647%, due 8/15/61 | 80000 | 69938 |
| &nbsp;&nbsp;Series 2019-BN19 C |  |  |
| &nbsp;&nbsp;&nbsp;4.031%, due 8/15/61<sup>(a)(b)</sup> | 715000 | 528766 |
| &nbsp;&nbsp;Series 2020-BN25 D |  |  |
| &nbsp;&nbsp;2.500%, due 1/15/63 | 395000 | 311051 |
| BANK 2017-BNK8 |  |  |
| &nbsp;&nbsp;Series 2017-BNK8 B |  |  |
| &nbsp;&nbsp;&nbsp;3.945%, due 11/15/50<sup>(a)(b)</sup> | 250000 | 230955 |
| &nbsp;&nbsp;Series 2017-BNK8 D |  |  |
| &nbsp;&nbsp;2.600%, due 11/15/50 | 200000 | 105190 |
| Bank of America Merrill Lynch Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2016-UB10 D |  |  |
| &nbsp;&nbsp;3.000%, due 7/15/49 | 440000 | 382951 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2024-C24 AS |  |  |
| &nbsp;&nbsp;5.867%, due 2/15/57 | 70000 | 73406 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Mortgage-Backed Securities (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2018-B1 C |  |  |
| &nbsp;&nbsp;&nbsp;4.201%, due 1/15/51<sup>(a)(b)</sup> | $374000 | $306348 |
| &nbsp;&nbsp;Series 2018-B6 D |  |  |
| &nbsp;&nbsp;&nbsp;3.086%, due 10/10/51<sup>(a)(b)</sup> | 605000 | 456522 |
| &nbsp;&nbsp;Series 2019-B14 C |  |  |
| &nbsp;&nbsp;&nbsp;3.778%, due 12/15/62<sup>(a)(b)</sup> | 485000 | 343452 |
| &nbsp;&nbsp;Series 2019-B9 C |  |  |
| &nbsp;&nbsp;&nbsp;4.971%, due 3/15/52<sup>(a)(b)</sup> | 300000 | 263384 |
| &nbsp;&nbsp;Series 2020-B16 D |  |  |
| &nbsp;&nbsp;2.500%, due 2/15/53 | 545000 | 414400 |
| &nbsp;&nbsp;Series 2020-B17 C |  |  |
| &nbsp;&nbsp;&nbsp;3.371%, due 3/15/53<sup>(a)(b)</sup> | 910000 | 689997 |
| BF Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2019-NYT E |  |  |
| &nbsp;&nbsp;&nbsp;6.478%, (1 Month CME SOFR + 2.80%), due 12/15/35<sup>(a)</sup> | 683500 | 629872 |
| BFLD Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2025-5MW D |  |  |
| &nbsp;&nbsp;&nbsp;6.371%, due 10/10/42<sup>(a)(b)</sup> | 575000 | 588515 |
| BMO Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2022-C1 111A |  |  |
| &nbsp;&nbsp;&nbsp;3.269%, due 2/17/55<sup>(a)(b)</sup> | 550000 | 516816 |
| BWAY Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2013-1515 C |  |  |
| &nbsp;&nbsp;3.446%, due 3/10/33 | 285000 | 262923 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2024-BRBK D |  |  |
| &nbsp;&nbsp;&nbsp;9.648%, (1 Month CME SOFR + 5.97%), due 10/15/41<sup>(a)</sup> | 265000 | 265994 |
| BX Commercial Mortgage Trust 2019-IMC |  |  |
| &nbsp;&nbsp;Series 2019-IMC F |  |  |
| &nbsp;&nbsp;&nbsp;6.626%, (1 Month CME SOFR + 2.95%), due 4/15/34<sup>(a)</sup> | 330000 | 323998 |
| BX Commercial Mortgage Trust 2024-VLT5 |  |  |
| &nbsp;&nbsp;Series 2024-VLT5 E |  |  |
| &nbsp;&nbsp;&nbsp;8.134%, due 11/13/46<sup>(a)(b)</sup> | 360000 | 386714 |
| BX Trust |  |  |
| &nbsp;&nbsp;Series 2019-OC11 D |  |  |
| &nbsp;&nbsp;&nbsp;3.944%, due 12/9/41<sup>(a)(b)</sup> | 500000 | 478129 |
| &nbsp;&nbsp;Series 2021-RISE C |  |  |
| &nbsp;&nbsp;&nbsp;5.244%, (1 Month CME SOFR + 1.56%), due 11/15/36<sup>(a)</sup> | 84533 | 84506 |
| BX Trust 2025-ARIA |  |  |
| &nbsp;&nbsp;Series 2025-ARIA C |  |  |
| &nbsp;&nbsp;&nbsp;5.517%, due 12/13/42<sup>(a)(b)</sup> | 550000 | 558749 |
| BX Trust 2025-VOLT |  |  |
| &nbsp;&nbsp;Series 2025-VOLT B |  |  |
| &nbsp;&nbsp;&nbsp;5.780%, (1 Month CME SOFR + 2.10%), due 12/15/44<sup>(a)</sup> | 380000 | 381900 |
| BXP Trust 2021-601L |  |  |
| &nbsp;&nbsp;Series 2021-601L A |  |  |
| &nbsp;&nbsp;2.618%, due 1/15/44 | 575000 | 506405 |
| CAMB Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2021-CX2 D |  |  |
| &nbsp;&nbsp;&nbsp;2.771%, due 11/10/46<sup>(a)(b)</sup> | 600000 | 471522 |
| CFK Trust |  |  |
| &nbsp;&nbsp;Series 2020-MF2 E |  |  |
| &nbsp;&nbsp;&nbsp;3.458%, due 3/15/39<sup>(a)(b)</sup> | 490000 | 372505 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2018-B2 D |  |  |
| &nbsp;&nbsp;&nbsp;3.145%, due 3/10/51<sup>(a)(b)</sup> | 1070000 | 814757 |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Mortgage-Backed Securities (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| COMM 2013-CCRE6 Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2013-CR6 D |  |  |
| &nbsp;&nbsp;&nbsp;3.871%, due 3/10/46<sup>(a)(b)</sup> | $175000 | $162812 |
| COMM 2014-CCRE20 Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2014-CR20 D |  |  |
| &nbsp;&nbsp;3.222%, due 11/10/47 | 300000 | 220872 |
| COMM 2018-HCLV Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2018-HCLV A |  |  |
| &nbsp;&nbsp;&nbsp;4.976%, (1 Month CME SOFR + 1.30%), due 9/15/33<sup>(a)</sup> | 425000 | 392266 |
| COMM Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2014-UBS2 D |  |  |
| &nbsp;&nbsp;&nbsp;4.624%, due 3/10/47<sup>(a)(b)</sup> | 47387 | 20921 |
| &nbsp;&nbsp;Series 2016-DC2 C |  |  |
| &nbsp;&nbsp;&nbsp;4.632%, due 2/10/49<sup>(a)(b)</sup> | 395000 | 387401 |
| &nbsp;&nbsp;Series 2016-DC2 D |  |  |
| &nbsp;&nbsp;&nbsp;3.882%, due 2/10/49<sup>(a)(b)</sup> | 760000 | 692179 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2015-C1 C |  |  |
| &nbsp;&nbsp;&nbsp;3.778%, due 4/15/50<sup>(a)(b)</sup> | 293000 | 266633 |
| &nbsp;&nbsp;Series 2018-C14 C |  |  |
| &nbsp;&nbsp;&nbsp;4.876%, due 11/15/51<sup>(a)(b)</sup> | 405000 | 364456 |
| CSMC 2014-USA OA LLC |  |  |
| &nbsp;&nbsp;Series 2014-USA A1 |  |  |
| &nbsp;&nbsp;3.304%, due 9/15/37 | 446556 | 410874 |
| DBUBS Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2011-LC3A PM2 |  |  |
| &nbsp;&nbsp;&nbsp;5.268%, due 5/10/44<sup>(a)(b)</sup> | 650000 | 416832 |
| Extended Stay America Trust 2026-ESH2 |  |  |
| &nbsp;&nbsp;Series 2026-ESH2 D |  |  |
| &nbsp;&nbsp;&nbsp;5.920%, (1 Month CME SOFR + 2.25%), due 2/15/43<sup>(a)</sup> | 390000 | 392681 |
| Freddie Mac Mscr Trust |  |  |
| &nbsp;&nbsp;Series 2024-MN8 M2 |  |  |
| &nbsp;&nbsp;&nbsp;7.947%, (1 Month SOFR + 4.25%), due 5/25/44<sup>(a)</sup> | 430000 | 447969 |
| &nbsp;&nbsp;Series 2025-MN10 B1 |  |  |
| &nbsp;&nbsp;&nbsp;8.647%, (1 Month SOFR + 4.95%), due 2/25/45<sup>(a)</sup> | 570000 | 577120 |
| Freddie Mac Mscr Trust Mn12 |  |  |
| &nbsp;&nbsp;Series 2025-MN12 B1 |  |  |
| &nbsp;&nbsp;&nbsp;8.197%, (1 Month SOFR + 4.50%), due 11/25/45<sup>(a)</sup> | 410000 | 416887 |
| Freddie Mac Multifamily Structured Credit Risk |  |  |
| &nbsp;&nbsp;Series 2024-MN9 B1 |  |  |
| &nbsp;&nbsp;&nbsp;9.697%, (1 Month SOFR + 6.00%), due 10/25/44<sup>(a)</sup> | 530000 | 559182 |
| GS Mortgage Securities Corp. Trust |  |  |
| &nbsp;&nbsp;Series 2012-BWTR A |  |  |
| &nbsp;&nbsp;2.954%, due 11/5/34 | 358559 | 318760 |
| &nbsp;&nbsp;Series 2017-GPTX A |  |  |
| &nbsp;&nbsp;2.856%, due 5/10/34 | 513367 | 454322 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2015-GC30 B |  |  |
| &nbsp;&nbsp;&nbsp;3.998%, due 5/10/50<sup>(a)(b)</sup> | 104941 | 101777 |
| &nbsp;&nbsp;Series 2015-GC30 D |  |  |
| &nbsp;&nbsp;3.384%, due 5/10/50 | 1075000 | 599312 |
| &nbsp;&nbsp;Series 2018-GS10 D |  |  |
| &nbsp;&nbsp;3.000%, due 7/10/51 | 450000 | 363491 |
| GS Mortgage Securities Trust 2014-GC22 |  |  |
| &nbsp;&nbsp;Series 2014-GC22 AS |  |  |
| &nbsp;&nbsp;4.113%, due 6/10/47 | 395000 | 368438 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Mortgage-Backed Securities (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| HILT COMMERCIAL MORTGAGE TRUST |  |  |
| &nbsp;&nbsp;Series 2024-ORL D |  |  |
| &nbsp;&nbsp;&nbsp;6.869%, (1 Month CME SOFR + 3.19%), due 5/15/37<sup>(a)</sup> | $100000 | $100437 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2021-1440 A |  |  |
| &nbsp;&nbsp;&nbsp;5.095%, (1 Month CME SOFR + 1.41%), due 3/15/36<sup>(a)</sup> | 355000 | 333901 |
| JPMDB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2017-C5 B |  |  |
| &nbsp;&nbsp;&nbsp;4.009%, due 3/15/50<sup>(a)(b)</sup> | 150000 | 125648 |
| &nbsp;&nbsp;Series 2017-C7 D |  |  |
| &nbsp;&nbsp;3.000%, SOFR, due 10/15/50 | 100000 | 77149 |
| MFT Trust |  |  |
| &nbsp;&nbsp;Series 2020-ABC B |  |  |
| &nbsp;&nbsp;&nbsp;3.477%, due 2/10/42<sup>(a)(b)</sup> | 260000 | 208081 |
| Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;Series 2015-C22 AS |  |  |
| &nbsp;&nbsp;3.561%, due 4/15/48 | 110000 | 106425 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;Series 2018-H3 D |  |  |
| &nbsp;&nbsp;3.000%, due 7/15/51 | 135000 | 110202 |
| Morgan Stanley Capital I Trust 2021-230P |  |  |
| &nbsp;&nbsp;Series 2021-230P A |  |  |
| &nbsp;&nbsp;&nbsp;4.964%, (1 Month CME SOFR + 1.28%), due 12/15/38<sup>(a)</sup> | 275000 | 267094 |
| MSWF Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2023-2 AS |  |  |
| &nbsp;&nbsp;&nbsp;6.491%, due 12/15/56<sup>(a)(b)</sup> | 75000 | 81535 |
| Natixis Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;Series 2019-MILE A |  |  |
| &nbsp;&nbsp;&nbsp;5.260%, (1 Month CME SOFR + 1.58%), due 7/15/36<sup>(a)</sup> | 339543 | 324697 |
| &nbsp;&nbsp;Series 2020-2PAC AMZ1 |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 1/15/37<sup>(a)(b)</sup> | 475000 | 411117 |
| &nbsp;&nbsp;Series 2021-APPL A |  |  |
| &nbsp;&nbsp;&nbsp;4.895%, (1 Month CME SOFR + 1.21%), due 8/15/38<sup>(a)</sup> | 92817 | 90472 |
| NCMF Trust |  |  |
| &nbsp;&nbsp;Series 2025-MFS D |  |  |
| &nbsp;&nbsp;&nbsp;6.618%, due 6/10/33<sup>(a)(b)</sup> | 375000 | 380835 |
| ROCK Trust |  |  |
| &nbsp;&nbsp;Series 2024-CNTR E |  |  |
| &nbsp;&nbsp;8.819%, due 11/13/41 | 445000 | 473071 |
| SWCH Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2025-DATA A |  |  |
| &nbsp;&nbsp;&nbsp;5.123%, (1 Month CME SOFR + 1.44%), due 2/15/42<sup>(a)</sup> | 320000 | 317700 |
| UBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2018-C9 C |  |  |
| &nbsp;&nbsp;&nbsp;4.962%, due 3/15/51<sup>(a)(b)</sup> | 405000 | 277563 |
| UBS Commercial Mortgage Trust 2018-C9 |  |  |
| &nbsp;&nbsp;Series 2018-C9 B |  |  |
| &nbsp;&nbsp;&nbsp;4.570%, due 3/15/51<sup>(a)(b)</sup> | 165000 | 141166 |
| UBS-Barclays Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2013-C5 B |  |  |
| &nbsp;&nbsp;&nbsp;3.649%, due 3/10/46<sup>(a)(b)</sup> | 490061 | 479280 |
| WB Commercial Mortgage Trust 2024-HQ |  |  |
| &nbsp;&nbsp;Series 2024-HQ A |  |  |
| &nbsp;&nbsp;&nbsp;6.134%, due 3/15/40<sup>(a)(b)</sup> | 530000 | 530877 |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Commercial Mortgage-Backed Securities (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;Series 2016-NXS5 D |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 1/15/59<sup>(a)(b)</sup> | $469000 | $357125 |
| &nbsp;&nbsp;Series 2016-NXS6 D |  |  |
| &nbsp;&nbsp;3.059%, due 11/15/49 | 555000 | 477857 |
| &nbsp;&nbsp;Series 2018-C44 D |  |  |
| &nbsp;&nbsp;3.000%, due 5/15/51 | 710000 | 517076 |
| &nbsp;&nbsp;Series 2019-C51 AS |  |  |
| &nbsp;&nbsp;3.584%, due 6/15/52 | 116000 | 108407 |
| &nbsp;&nbsp;Series 2019-C51 C |  |  |
| &nbsp;&nbsp;&nbsp;4.289%, due 6/15/52<sup>(a)(b)</sup> | 445000 | 377395 |
| &nbsp;&nbsp;Series 2022-ONL E |  |  |
| &nbsp;&nbsp;&nbsp;4.928%, due 12/15/39<sup>(a)(b)</sup> | 350000 | 321804 |
| WP Glimcher Mall Trust |  |  |
| &nbsp;&nbsp;Series 2015-WPG C |  |  |
| &nbsp;&nbsp;&nbsp;3.516%, due 6/5/35<sup>(a)(b)</sup> | 450000 | 382495 |
| **Total Commercial Mortgage-Backed Securities** |  |  |
| &nbsp;&nbsp;**(Cost $27,838,070)** |  | 28313846 |
| **U.S. Government & Federal Agencies — 45.0%** |  |  |
| **Mortgage Securities — 42.2%** |  |  |
| Fannie Mae Interest Strip |  |  |
| &nbsp;&nbsp;Series 2022-426 C32 |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, due 2/25/52<sup>(c)</sup> | 170708 | 16217 |
| &nbsp;&nbsp;Series 2023-438 C34 |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, due 8/25/53<sup>(c)</sup> | 673477 | 149036 |
| &nbsp;&nbsp;Series 2024-440 C46 |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, due 10/25/53<sup>(c)</sup> | 1281581 | 271313 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Fannie Mae Pool |  |  |
| &nbsp;&nbsp;Series 2018-BK4772 |  |  |
| &nbsp;&nbsp;4.000%, due 8/1/48 | $21568 | $20970 |
| &nbsp;&nbsp;Series 2018-BN0340 |  |  |
| &nbsp;&nbsp;4.500%, due 12/1/48 | 11812 | 11753 |
| &nbsp;&nbsp;Series 2018-CA2056 |  |  |
| &nbsp;&nbsp;4.500%, due 7/1/48 | 53413 | 53252 |
| &nbsp;&nbsp;Series 2018-CA2960 |  |  |
| &nbsp;&nbsp;4.500%, due 1/1/49 | 27228 | 27095 |
| &nbsp;&nbsp;Series 2020-FM3129 |  |  |
| &nbsp;&nbsp;3.000%, due 5/1/50 | 81368 | 72876 |
| &nbsp;&nbsp;Series 2020-FM3889 |  |  |
| &nbsp;&nbsp;3.000%, due 7/1/50 | 27633 | 24775 |
| &nbsp;&nbsp;Series 2020-FM5299 |  |  |
| &nbsp;&nbsp;3.500%, due 11/1/50 | 21466 | 19919 |
| &nbsp;&nbsp;Series 2021-FM7418 |  |  |
| &nbsp;&nbsp;2.500%, due 6/1/51 | 127442 | 110278 |
| &nbsp;&nbsp;Series 2021-MA4371 |  |  |
| &nbsp;&nbsp;2.500%, due 6/1/51 | 1200239 | 995925 |
| &nbsp;&nbsp;Series 2021-MA4438 |  |  |
| &nbsp;&nbsp;2.500%, due 10/1/51 | 2641245 | 2259882 |
| &nbsp;&nbsp;Series 2021-MA4492 |  |  |
| &nbsp;&nbsp;2.000%, due 12/1/51 | 3461324 | 2819125 |
| &nbsp;&nbsp;Series 2021-MA4511 |  |  |
| &nbsp;&nbsp;2.000%, due 1/1/52 | 1523327 | 1240217 |
| &nbsp;&nbsp;Series 2022-BU1417 |  |  |
| &nbsp;&nbsp;3.000%, due 1/1/52 | 97015 | 86201 |
| &nbsp;&nbsp;Series 2022-MA4562 |  |  |
| &nbsp;&nbsp;2.000%, due 3/1/52 | 2961724 | 2409884 |
| &nbsp;&nbsp;Series 2022-MA4598 |  |  |
| &nbsp;&nbsp;2.500%, due 5/1/52 | 1361601 | 1163089 |
| &nbsp;&nbsp;Series 2022-MA4623 |  |  |
| &nbsp;&nbsp;2.500%, due 6/1/52 | 761688 | 650648 |
| &nbsp;&nbsp;Series 2022-MA4624 |  |  |
| &nbsp;&nbsp;3.000%, due 6/1/52 | 1847545 | 1643195 |
| &nbsp;&nbsp;Series 2022-MA4626 |  |  |
| &nbsp;&nbsp;4.000%, due 6/1/52 | 1004791 | 962082 |
| &nbsp;&nbsp;Series 2022-MA4806 |  |  |
| &nbsp;&nbsp;5.000%, due 11/1/52 | 401395 | 402966 |
| &nbsp;&nbsp;Series 2023-FS3603 |  |  |
| &nbsp;&nbsp;5.500%, due 8/1/53 | 46874 | 48101 |
| &nbsp;&nbsp;Series 2023-FS3904 |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/53 | 21816 | 21903 |
| &nbsp;&nbsp;Series 2023-FS5641 |  |  |
| &nbsp;&nbsp;6.000%, due 8/1/53 | 95226 | 98335 |
| &nbsp;&nbsp;Series 2023-MA4918 |  |  |
| &nbsp;&nbsp;5.000%, due 2/1/53 | 1383695 | 1388967 |
| &nbsp;&nbsp;Series 2023-MA4919 |  |  |
| &nbsp;&nbsp;5.500%, due 2/1/53 | 725727 | 738542 |
| &nbsp;&nbsp;Series 2023-MA4940 |  |  |
| &nbsp;&nbsp;5.000%, due 3/1/53 | 963785 | 967506 |
| &nbsp;&nbsp;Series 2023-MA5009 |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/53 | 837520 | 840626 |
| &nbsp;&nbsp;Series 2023-MA5020 |  |  |
| &nbsp;&nbsp;5.000%, due 5/1/43 | 647549 | 660288 |
| &nbsp;&nbsp;Series 2023-MA5027 |  |  |
| &nbsp;&nbsp;4.000%, due 5/1/53 | 917529 | 879083 |
| &nbsp;&nbsp;Series 2024-FS7587 |  |  |
| &nbsp;&nbsp;5.500%, due 4/1/54 | 66095 | 67613 |
| &nbsp;&nbsp;Series 2024-FS8105 |  |  |
| &nbsp;&nbsp;2.000%, due 10/1/52 | 3293061 | 2680013 |
| &nbsp;&nbsp;Series 2024-FS8206 |  |  |
| &nbsp;&nbsp;5.500%, due 6/1/54 | 520032 | 533340 |
| &nbsp;&nbsp;Series 2024-FS9453 |  |  |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;4.500%, due 8/1/53 | $278149 | $273957 |
| &nbsp;&nbsp;Series 2024-MA5353 |  |  |
| &nbsp;&nbsp;5.500%, due 5/1/54 | 1457559 | 1478855 |
| &nbsp;&nbsp;Series 2024-MA5497 |  |  |
| &nbsp;&nbsp;5.500%, due 10/1/54 | 761258 | 772176 |
| &nbsp;&nbsp;Series 2025-FA1540 |  |  |
| &nbsp;&nbsp;6.000%, due 12/1/54 | 356921 | 366623 |
| &nbsp;&nbsp;Series 2025-FA2250 |  |  |
| &nbsp;&nbsp;3.000%, due 7/1/52 | 843104 | 748894 |
| &nbsp;&nbsp;Series 2025-MA5614 |  |  |
| &nbsp;&nbsp;5.500%, due 2/1/55 | 357723 | 362854 |
| Fannie Mae REMICS |  |  |
| &nbsp;&nbsp;Series 2016-19 SD |  |  |
| &nbsp;&nbsp;&nbsp;2.288%, (1 Month SOFR + 5.99%), due 4/25/46<sup>(a)(c)</sup> | 113284 | 10571 |
| &nbsp;&nbsp;Series 2016-57 SN |  |  |
| &nbsp;&nbsp;&nbsp;2.238%, (1 Month SOFR + 5.94%), due 6/25/46<sup>(a)(c)</sup> | 57932 | 6280 |
| &nbsp;&nbsp;Series 2019-32 SB |  |  |
| &nbsp;&nbsp;&nbsp;2.238%, (1 Month SOFR + 5.94%), due 6/25/49<sup>(a)(c)</sup> | 49311 | 5347 |
| &nbsp;&nbsp;Series 2019-77 LZ |  |  |
| &nbsp;&nbsp;3.000%, due 1/25/50 | 174917 | 154324 |
| &nbsp;&nbsp;Series 2020-23 PS |  |  |
| &nbsp;&nbsp;&nbsp;2.238%, (1 Month SOFR + 5.94%), due 2/25/50<sup>(a)(c)</sup> | 65407 | 7826 |
| &nbsp;&nbsp;Series 2020-57 LJ |  |  |
| &nbsp;&nbsp;2.000%, due 8/25/50 | 535000 | 408722 |
| &nbsp;&nbsp;Series 2020-63 B |  |  |
| &nbsp;&nbsp;1.250%, due 9/25/50 | 7711 | 6123 |
| &nbsp;&nbsp;Series 2021-12 GC |  |  |
| &nbsp;&nbsp;3.500%, due 7/25/50 | 76020 | 69692 |
| &nbsp;&nbsp;Series 2021-3 TI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 2/25/51<sup>(c)</sup> | 1052545 | 179159 |
| &nbsp;&nbsp;Series 2021-34 MI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 3/25/51<sup>(c)</sup> | 793955 | 105006 |
| &nbsp;&nbsp;Series 2021-8 ID |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 3/25/51<sup>(c)</sup> | 895946 | 191587 |
| &nbsp;&nbsp;Series 2021-85 BI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 12/25/51<sup>(c)</sup> | 291907 | 51952 |
| &nbsp;&nbsp;Series 2021-91 HI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 1/25/52<sup>(c)</sup> | 98794 | 12149 |
| &nbsp;&nbsp;Series 2022-10 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.053%, (1 Month SOFR + 5.75%), due 2/25/52<sup>(a)(c)</sup> | 607417 | 69197 |
| &nbsp;&nbsp;Series 2024-48 SB |  |  |
| &nbsp;&nbsp;&nbsp;2.203%, (1 Month SOFR + 5.90%), due 7/25/54<sup>(a)(c)</sup> | 2142495 | 118207 |
| &nbsp;&nbsp;Series 2024-78 EV |  |  |
| &nbsp;&nbsp;5.500%, due 10/25/35 | 424443 | 434496 |
| &nbsp;&nbsp;Series 2024-82 DS |  |  |
| &nbsp;&nbsp;&nbsp;1.453%, (1 Month SOFR + 5.15%), due 11/25/54<sup>(a)(c)</sup> | 1232838 | 38959 |
| &nbsp;&nbsp;Series 2025-103 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.133%, (1 Month SOFR + 5.83%), due 6/25/55<sup>(a)(c)</sup> | 866861 | 54014 |
| &nbsp;&nbsp;Series 2025-18 SM |  |  |
| &nbsp;&nbsp;&nbsp;3.403%, (1 Month SOFR + 7.10%), due 9/25/54<sup>(a)(c)</sup> | 446989 | 31178 |
| &nbsp;&nbsp;Series 2025-44 SD |  |  |
| &nbsp;&nbsp;&nbsp;1.403%, (1 Month SOFR + 5.10%), due 6/25/55<sup>(a)(c)</sup> | 1638961 | 62203 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Freddie Mac Gold Pool |  |  |
| &nbsp;&nbsp;Series 2018-G08831 |  |  |
| &nbsp;&nbsp;4.000%, due 8/1/48 | $11095 | $10803 |
| Freddie Mac Pool |  |  |
| &nbsp;&nbsp;Series 2019-QA1451 |  |  |
| &nbsp;&nbsp;3.000%, due 8/1/49 | 13261 | 11918 |
| &nbsp;&nbsp;Series 2019-RA1780 |  |  |
| &nbsp;&nbsp;4.500%, due 11/1/49 | 31667 | 31682 |
| &nbsp;&nbsp;Series 2021-RA4934 |  |  |
| &nbsp;&nbsp;3.000%, due 3/1/51 | 966325 | 857386 |
| &nbsp;&nbsp;Series 2021-SD8146 |  |  |
| &nbsp;&nbsp;2.000%, due 5/1/51 | 706557 | 578220 |
| &nbsp;&nbsp;Series 2021-SD8166 |  |  |
| &nbsp;&nbsp;2.000%, due 9/1/51 | 1844690 | 1504157 |
| &nbsp;&nbsp;Series 2022-QD8143 |  |  |
| &nbsp;&nbsp;2.000%, due 3/1/52 | 85563 | 69501 |
| &nbsp;&nbsp;Series 2022-RA6622 |  |  |
| &nbsp;&nbsp;2.500%, due 1/1/52 | 195331 | 168598 |
| &nbsp;&nbsp;Series 2022-RA7122 |  |  |
| &nbsp;&nbsp;3.500%, due 4/1/52 | 674935 | 628683 |
| &nbsp;&nbsp;Series 2022-SD8199 |  |  |
| &nbsp;&nbsp;2.000%, due 3/1/52 | 4352669 | 3542340 |
| &nbsp;&nbsp;Series 2022-SD8220 |  |  |
| &nbsp;&nbsp;3.000%, due 6/1/52 | 438896 | 389794 |
| &nbsp;&nbsp;Series 2022-SD8243 |  |  |
| &nbsp;&nbsp;3.500%, due 9/1/52 | 1377859 | 1275816 |
| &nbsp;&nbsp;Series 2022-SD8256 |  |  |
| &nbsp;&nbsp;4.000%, due 10/1/52 | 514728 | 493258 |
| &nbsp;&nbsp;Series 2022-SD8266 |  |  |
| &nbsp;&nbsp;4.500%, due 11/1/52 | 1442187 | 1417775 |
| &nbsp;&nbsp;Series 2022-SD8277 |  |  |
| &nbsp;&nbsp;5.500%, due 12/1/52 | 532446 | 542551 |
| &nbsp;&nbsp;Series 2023-SD3392 |  |  |
| &nbsp;&nbsp;5.500%, due 7/1/53 | 36602 | 37570 |
| &nbsp;&nbsp;Series 2023-SD3770 |  |  |
| &nbsp;&nbsp;2.500%, due 3/1/52 | 512177 | 442798 |
| &nbsp;&nbsp;Series 2023-SD8325 |  |  |
| &nbsp;&nbsp;6.000%, due 5/1/53 | 110549 | 113914 |
| &nbsp;&nbsp;Series 2023-SD8329 |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/53 | 507786 | 509539 |
| &nbsp;&nbsp;Series 2023-SD8342 |  |  |
| &nbsp;&nbsp;5.500%, due 7/1/53 | 1082654 | 1101107 |
| &nbsp;&nbsp;Series 2024-SD4958 |  |  |
| &nbsp;&nbsp;2.000%, due 6/1/52 | 3518497 | 2873365 |
| &nbsp;&nbsp;Series 2024-SD5040 |  |  |
| &nbsp;&nbsp;5.500%, due 3/1/54 | 61599 | 63021 |
| &nbsp;&nbsp;Series 2024-SD6766 |  |  |
| &nbsp;&nbsp;5.500%, due 11/1/54 | 1185756 | 1208206 |
| &nbsp;&nbsp;Series 2024-SD6871 |  |  |
| &nbsp;&nbsp;5.500%, due 11/1/54 | 690949 | 705783 |
| &nbsp;&nbsp;Series 2024-SD8489 |  |  |
| &nbsp;&nbsp;4.500%, due 12/1/54 | 1330812 | 1304987 |
| &nbsp;&nbsp;Series 2025-RB5383 |  |  |
| &nbsp;&nbsp;4.500%, due 1/1/46 | 313418 | 310436 |
| &nbsp;&nbsp;Series 2025-RJ5572 |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/55 | 679049 | 682408 |
| &nbsp;&nbsp;Series 2025-SL0927 |  |  |
| &nbsp;&nbsp;6.000%, due 9/1/54 | 980483 | 1019848 |
| &nbsp;&nbsp;Series 2025-SL1570 |  |  |
| &nbsp;&nbsp;6.000%, due 7/1/55 | 309760 | 317155 |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Freddie Mac REMICS |  |  |
| &nbsp;&nbsp;Series 2020-4993 KS |  |  |
| &nbsp;&nbsp;&nbsp;2.238%, (1 Month SOFR + 5.934%), due 7/25/50<sup>(a)(c)</sup> | $136391 | $18241 |
| &nbsp;&nbsp;Series 2020-4994 TS |  |  |
| &nbsp;&nbsp;&nbsp;2.288%, (1 Month SOFR + 5.99%), due 7/25/50<sup>(a)(c)</sup> | 1349695 | 172503 |
| &nbsp;&nbsp;Series 2020-5021 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.55%), due 10/25/50<sup>(a)(c)</sup> | 880680 | 17942 |
| &nbsp;&nbsp;Series 2020-5036 IO |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 11/25/50<sup>(c)</sup> | 676532 | 147456 |
| &nbsp;&nbsp;Series 2020-5040 IO |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 11/25/50<sup>(c)</sup> | 50894 | 9301 |
| &nbsp;&nbsp;Series 2020-5041 JE |  |  |
| &nbsp;&nbsp;1.250%, due 3/25/49 | 75148 | 62345 |
| &nbsp;&nbsp;Series 2021-5070 PI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 8/25/50<sup>(c)</sup> | 60831 | 10818 |
| &nbsp;&nbsp;Series 2021-5094 IP |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 4/25/51<sup>(c)</sup> | 474211 | 76423 |
| &nbsp;&nbsp;Series 2021-5152 BI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 7/25/50<sup>(c)</sup> | 82893 | 14344 |
| &nbsp;&nbsp;Series 2021-5167 GI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 11/25/51<sup>(c)</sup> | 938476 | 155544 |
| &nbsp;&nbsp;Series 2022-5191 IO |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, due 9/25/50<sup>(c)</sup> | 64775 | 11588 |
| &nbsp;&nbsp;Series 2022-5205 KI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 12/25/48<sup>(c)</sup> | 56428 | 5750 |
| &nbsp;&nbsp;Series 2023-5326 QO |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 9/25/50<sup>(d)(e)</sup> | 415516 | 281236 |
| &nbsp;&nbsp;Series 2023-5328 JY |  |  |
| &nbsp;&nbsp;0.250%, due 9/25/50 | 411748 | 289711 |
| &nbsp;&nbsp;Series 2023-5351 DO |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 9/25/53<sup>(d)(e)</sup> | 85956 | 69443 |
| &nbsp;&nbsp;Series 2024-5471 SK |  |  |
| &nbsp;&nbsp;&nbsp;1.653%, (1 Month SOFR + 5.35%), due 8/25/54<sup>(a)(c)</sup> | 2302337 | 82921 |
| &nbsp;&nbsp;Series 2024-5472 SB |  |  |
| &nbsp;&nbsp;&nbsp;1.653%, (1 Month SOFR + 5.35%), due 11/25/54<sup>(a)(c)</sup> | 3142125 | 120841 |
| &nbsp;&nbsp;Series 2025-5514 SA |  |  |
| &nbsp;&nbsp;&nbsp;1.403%, (1 Month SOFR + 5.10%), due 3/25/55<sup>(a)(c)</sup> | 980302 | 29544 |
| &nbsp;&nbsp;Series 2025-5531 SD |  |  |
| &nbsp;&nbsp;&nbsp;2.203%, (1 Month SOFR + 5.90%), due 4/25/55<sup>(a)(c)</sup> | 1252886 | 78432 |
| &nbsp;&nbsp;Series 2025-5547 ES |  |  |
| &nbsp;&nbsp;&nbsp;3.303%, (1 Month SOFR + 7.00%), due 6/25/55<sup>(a)(c)</sup> | 530822 | 36161 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Freddie Mac STACR REMIC Trust |  |  |
| &nbsp;&nbsp;Series 2021-DNA1 B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.347%, (1 Month SOFR + 2.65%), due 1/25/51<sup>(a)</sup> | $580000 | $612064 |
| &nbsp;&nbsp;Series 2021-DNA5 B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.197%, (1 Month SOFR + 5.50%), due 1/25/34<sup>(a)</sup> | 220000 | 266475 |
| &nbsp;&nbsp;Series 2021-HQA3 B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.947%, (1 Month SOFR + 6.25%), due 9/25/41<sup>(a)</sup> | 1070000 | 1100634 |
| &nbsp;&nbsp;Series 2021-HQA4 B2 |  |  |
| &nbsp;&nbsp;&nbsp;10.697%, (1 Month SOFR + 7.00%), due 12/25/41<sup>(a)</sup> | 713000 | 744415 |
| &nbsp;&nbsp;Series 2021-HQA4 M2 |  |  |
| &nbsp;&nbsp;&nbsp;6.047%, (1 Month SOFR + 2.35%), due 12/25/41<sup>(a)</sup> | 120000 | 121537 |
| Freddie Mac STACR Securitized Participation Interests Trust |  |  |
| &nbsp;&nbsp;Series 2018-SPI3 B |  |  |
| &nbsp;&nbsp;&nbsp;4.156%, due 8/25/48<sup>(a)(b)</sup> | 689979 | 538570 |
| Freddie Mac STACR Trust |  |  |
| &nbsp;&nbsp;Series 2019-FTR1 B2 |  |  |
| &nbsp;&nbsp;&nbsp;12.162%, (1 Month SOFR + 8.46%), due 1/25/48<sup>(a)</sup> | 385000 | 460838 |
| &nbsp;&nbsp;Series 2019-FTR3 B2 |  |  |
| &nbsp;&nbsp;&nbsp;8.789%, (1 Month SOFR + 4.91%), due 9/25/47<sup>(a)</sup> | 500000 | 546795 |
| &nbsp;&nbsp;Series 2019-HQA2 B2 |  |  |
| &nbsp;&nbsp;&nbsp;15.062%, (1 Month SOFR + 11.36%), due 4/25/49<sup>(a)</sup> | 425000 | 509869 |
| Freddie Mac Strips |  |  |
| &nbsp;&nbsp;Series 2006-240 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 7/15/36<sup>(d)(e)</sup> | 31509 | 28151 |
| &nbsp;&nbsp;Series 2007-246 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 5/15/37<sup>(d)(e)</sup> | 45513 | 38059 |
| &nbsp;&nbsp;Series 2012-272 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 8/15/42<sup>(d)(e)</sup> | 144032 | 111912 |
| &nbsp;&nbsp;Series 2013-311 S1 |  |  |
| &nbsp;&nbsp;&nbsp;2.128%, (1 Month SOFR + 5.84%), due 8/15/43<sup>(a)(c)</sup> | 1148212 | 118646 |
| &nbsp;&nbsp;Series 2023-397 C61 |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, due 1/25/53<sup>(c)</sup> | 563714 | 97196 |
| &nbsp;&nbsp;Series 2023-402 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 9/25/53<sup>(d)(e)</sup> | 78828 | 66937 |
| Ginnie Mae II Pool |  |  |
| &nbsp;&nbsp;Series 2021-MA7706 |  |  |
| &nbsp;&nbsp;3.000%, due 11/20/51 | 815762 | 737234 |
| &nbsp;&nbsp;Series 2024-787246 |  |  |
| &nbsp;&nbsp;3.000%, due 9/20/53 | 1216323 | 1077663 |
| Ginnie Mae Strip |  |  |
| &nbsp;&nbsp;Series 2004-1 1 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 7/20/34<sup>(d)(e)</sup> | 15092 | 13291 |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;Series 2016-93 AI |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, due 7/20/44<sup>(c)</sup> | $598492 | $139401 |
| &nbsp;&nbsp;Series 2019-128 YF |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, (1 Month CME SOFR + 0.76%), due 10/20/49<sup>(a)</sup> | 26497 | 24072 |
| &nbsp;&nbsp;Series 2020-1 YS |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month CME SOFR + 2.72%), due 1/20/50<sup>(a)(c)</sup> | 116530 | 490 |
| &nbsp;&nbsp;Series 2020-129 SB |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month CME SOFR + 3.09%), due 9/20/50<sup>(a)(c)</sup> | 149130 | 1117 |
| &nbsp;&nbsp;Series 2020-146 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 10/20/50<sup>(a)(c)</sup> | 125464 | 16950 |
| &nbsp;&nbsp;Series 2020-149 IQ |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 10/20/50<sup>(c)</sup> | 134197 | 19484 |
| &nbsp;&nbsp;Series 2020-166 IC |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, due 11/20/50<sup>(c)</sup> | 61420 | 7574 |
| &nbsp;&nbsp;Series 2020-167 SN |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 11/20/50<sup>(a)(c)</sup> | 430114 | 58955 |
| &nbsp;&nbsp;Series 2020-168 IA |  |  |
| &nbsp;&nbsp;&nbsp;0.974%, due 12/16/62<sup>(a)(b)(c)</sup> | 2056407 | 146160 |
| &nbsp;&nbsp;Series 2020-177 IO |  |  |
| &nbsp;&nbsp;&nbsp;0.822%, due 6/16/62<sup>(a)(b)(c)</sup> | 233220 | 13688 |
| &nbsp;&nbsp;Series 2020-183 HT |  |  |
| &nbsp;&nbsp;&nbsp;2.067%, (1 Month SOFR + 5.77%), due 12/20/50<sup>(a)(c)</sup> | 115750 | 14673 |
| &nbsp;&nbsp;Series 2020-188 GI |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, due 12/20/50<sup>(c)</sup> | 978187 | 109194 |
| &nbsp;&nbsp;Series 2020-188 IO |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, due 12/20/50<sup>(c)</sup> | 85974 | 9882 |
| &nbsp;&nbsp;Series 2020-189 NS |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 12/20/50<sup>(a)(c)</sup> | 121433 | 17196 |
| &nbsp;&nbsp;Series 2020-189 SU |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 12/20/50<sup>(a)(c)</sup> | 365142 | 51774 |
| &nbsp;&nbsp;Series 2020-34 SC |  |  |
| &nbsp;&nbsp;&nbsp;2.260%, (1 Month CME SOFR + 5.94%), due 3/20/50<sup>(a)(c)</sup> | 74845 | 9386 |
| &nbsp;&nbsp;Series 2020-96 CS |  |  |
| &nbsp;&nbsp;&nbsp;2.310%, (1 Month CME SOFR + 5.99%), due 8/20/49<sup>(a)(c)</sup> | 216044 | 26292 |
| &nbsp;&nbsp;Series 2021-1 IT |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 1/20/51<sup>(c)</sup> | 816007 | 141581 |
| &nbsp;&nbsp;Series 2021-1 PI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 12/20/50<sup>(c)</sup> | 63090 | 9649 |
| &nbsp;&nbsp;Series 2021-122 HS |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 7/20/51<sup>(a)(c)</sup> | 977566 | 133253 |
| &nbsp;&nbsp;Series 2021-16 AS |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month CME SOFR + 2.64%), due 1/20/51<sup>(a)(c)</sup> | 2070237 | 6530 |
| &nbsp;&nbsp;Series 2021-177 IM |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 10/20/51<sup>(c)</sup> | 94550 | 16080 |
| &nbsp;&nbsp;Series 2021-177 SB |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.20%), due 10/20/51<sup>(a)(c)</sup> | 4549935 | 44085 |
| &nbsp;&nbsp;Series 2021-179 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 11/20/50<sup>(a)(c)</sup> | 983434 | 137838 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;Series 2021-188 IO |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 10/20/51<sup>(c)</sup> | $1164980 | $191668 |
| &nbsp;&nbsp;Series 2021-205 GA |  |  |
| &nbsp;&nbsp;2.000%, due 11/20/51 | 123337 | 102137 |
| &nbsp;&nbsp;Series 2021-226 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 1.70%), due 12/20/51<sup>(a)(c)</sup> | 18143331 | 15650 |
| &nbsp;&nbsp;Series 2021-29 AS |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 2.70%), due 2/20/51<sup>(a)(c)</sup> | 233819 | 843 |
| &nbsp;&nbsp;Series 2021-30 HI |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, due 2/20/51<sup>(c)</sup> | 180832 | 20084 |
| &nbsp;&nbsp;Series 2021-44 IQ |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 3/20/51<sup>(c)</sup> | 601961 | 101031 |
| &nbsp;&nbsp;Series 2021-47 IO |  |  |
| &nbsp;&nbsp;&nbsp;0.992%, due 3/16/61<sup>(a)(b)(c)</sup> | 356645 | 23572 |
| &nbsp;&nbsp;Series 2021-50 KI |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 1/20/48<sup>(c)</sup> | 168110 | 18930 |
| &nbsp;&nbsp;Series 2021-56 FE |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, (1 Month SOFR + 0.20%), due 10/20/50<sup>(a)(c)</sup> | 120619 | 17835 |
| &nbsp;&nbsp;Series 2021-57 SA |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(c)</sup> | 1612943 | 212420 |
| &nbsp;&nbsp;Series 2021-57 SD |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 3/20/51<sup>(a)(c)</sup> | 2283522 | 304694 |
| &nbsp;&nbsp;Series 2021-67 PI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 4/20/51<sup>(c)</sup> | 79155 | 13453 |
| &nbsp;&nbsp;Series 2021-96 GP |  |  |
| &nbsp;&nbsp;1.000%, due 6/20/51 | 341843 | 265379 |
| &nbsp;&nbsp;Series 2021-96 JS |  |  |
| &nbsp;&nbsp;&nbsp;2.560%, (1 Month CME SOFR + 6.24%), due 6/20/51<sup>(a)(c)</sup> | 1079974 | 150664 |
| &nbsp;&nbsp;Series 2021-96 NS |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 6/20/51<sup>(a)(c)</sup> | 121669 | 15747 |
| &nbsp;&nbsp;Series 2021-96 SN |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 6/20/51<sup>(a)(c)</sup> | 148418 | 18735 |
| &nbsp;&nbsp;Series 2021-97 SM |  |  |
| &nbsp;&nbsp;&nbsp;2.510%, (1 Month CME SOFR + 6.19%), due 6/20/51<sup>(a)(c)</sup> | 105917 | 14270 |
| &nbsp;&nbsp;Series 2021-98 IN |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 6/20/51<sup>(c)</sup> | 74537 | 13536 |
| &nbsp;&nbsp;Series 2022-1 CF |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, (1 Month SOFR + 0.80%), due 1/20/52<sup>(a)</sup> | 229948 | 193133 |
| &nbsp;&nbsp;Series 2022-10 IC |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, due 11/20/51<sup>(c)</sup> | 1045723 | 125687 |
| &nbsp;&nbsp;Series 2022-101 SB |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.30%), due 6/20/52<sup>(a)(c)</sup> | 1043154 | 10296 |
| &nbsp;&nbsp;Series 2022-107 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.47%), due 6/20/52<sup>(a)(c)</sup> | 5251051 | 54848 |
| &nbsp;&nbsp;Series 2022-182 IO |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 10/20/45<sup>(c)</sup> | 303244 | 42321 |
| &nbsp;&nbsp;Series 2022-185 DI |  |  |
| &nbsp;&nbsp;&nbsp;1.022%, due 10/16/65<sup>(a)(b)(c)</sup> | 871232 | 59513 |
| &nbsp;&nbsp;Series 2022-190 HS |  |  |
| &nbsp;&nbsp;&nbsp;2.260%, (1 Month CME SOFR + 5.94%), due 2/20/50<sup>(a)(c)</sup> | 302273 | 32986 |
| &nbsp;&nbsp;Series 2022-207 IO |  |  |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **Mortgage Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 8/20/51<sup>(c)</sup> | $73817 | $12401 |
| &nbsp;&nbsp;Series 2022-78 S |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.70%), due 4/20/52<sup>(a)(c)</sup> | 129554 | 2396 |
| &nbsp;&nbsp;Series 2022-87 SA |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, (1 Month SOFR + 3.30%), due 5/20/52<sup>(a)(c)</sup> | 2078040 | 19956 |
| &nbsp;&nbsp;Series 2023-1 HD |  |  |
| &nbsp;&nbsp;3.500%, due 1/20/52 | 170839 | 155686 |
| &nbsp;&nbsp;Series 2023-159 CI |  |  |
| &nbsp;&nbsp;&nbsp;0.955%, due 7/16/65<sup>(a)(b)(c)</sup> | 1901144 | 132952 |
| &nbsp;&nbsp;Series 2023-172 IO |  |  |
| &nbsp;&nbsp;&nbsp;1.331%, due 2/16/66<sup>(a)(b)(c)</sup> | 2243061 | 204135 |
| &nbsp;&nbsp;Series 2023-194 CI |  |  |
| &nbsp;&nbsp;&nbsp;0.818%, due 10/16/65<sup>(a)(b)(c)</sup> | 1492765 | 91830 |
| &nbsp;&nbsp;Series 2023-26 L |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, due 4/16/65<sup>(a)(b)</sup> | 180000 | 134344 |
| &nbsp;&nbsp;Series 2023-37 IB |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 10/20/50<sup>(c)</sup> | 615144 | 90027 |
| &nbsp;&nbsp;Series 2023-53 |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 4/20/53<sup>(d)(e)</sup> | 231191 | 189753 |
| &nbsp;&nbsp;Series 2023-59 YC |  |  |
| &nbsp;&nbsp;&nbsp;7.076%, due 9/20/51<sup>(a)(b)</sup> | 62925 | 69308 |
| &nbsp;&nbsp;Series 2023-60 ES |  |  |
| &nbsp;&nbsp;&nbsp;3.794%, (1 Month SOFR + 11.20%), due 4/20/53<sup>(a)</sup> | 49398 | 45831 |
| &nbsp;&nbsp;Series 2023-66 OQ |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, due 7/20/52<sup>(d)(e)</sup> | 150021 | 121272 |
| &nbsp;&nbsp;Series 2023-80 SA |  |  |
| &nbsp;&nbsp;&nbsp;1.547%, (1 Month SOFR + 5.25%), due 6/20/53<sup>(a)(c)</sup> | 1886080 | 83731 |
| &nbsp;&nbsp;Series 2023-86 SE |  |  |
| &nbsp;&nbsp;&nbsp;2.947%, (1 Month SOFR + 6.65%), due 9/20/50<sup>(a)(c)</sup> | 682676 | 102627 |
| &nbsp;&nbsp;Series 2024-29 B |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, due 8/16/64<sup>(a)(b)</sup> | 265000 | 194337 |
| &nbsp;&nbsp;Series 2024-48 JI |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, due 7/20/51<sup>(c)</sup> | 771471 | 130041 |
| &nbsp;&nbsp;Series 2024-51 SX |  |  |
| &nbsp;&nbsp;&nbsp;1.497%, (1 Month SOFR + 5.20%), due 3/20/54<sup>(a)(c)</sup> | 3282510 | 129077 |
| &nbsp;&nbsp;Series 2025-112 IO |  |  |
| &nbsp;&nbsp;&nbsp;0.566%, due 3/16/66<sup>(a)(b)(c)</sup> | 2296025 | 117810 |
| &nbsp;&nbsp;Series 2025-131 S |  |  |
| &nbsp;&nbsp;&nbsp;2.347%, (1 Month SOFR + 6.05%), due 8/20/55<sup>(a)(c)</sup> | 664756 | 51762 |
| &nbsp;&nbsp;Series 2025-25 P |  |  |
| &nbsp;&nbsp;7.000%, due 11/20/54 | 245048 | 253366 |
| Seasoned Credit Risk Transfer Trust Series |  |  |
| &nbsp;&nbsp;Series 2025-1 MTU |  |  |
| &nbsp;&nbsp;3.250%, due 11/25/64 | 1398860 | 1217438 |
| Seasoned Loans Structured Transaction Series |  |  |
| &nbsp;&nbsp;Series 2018-1 A1 |  |  |
| &nbsp;&nbsp;3.500%, due 6/25/28 | 44070 | 43313 |
|  |  | 68216944 |
| **U.S. Treasury Note — 2.8%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;3.500%, due 1/31/28 | 560000 | 559628 |
| &nbsp;&nbsp;3.500%, due 1/15/29 | 825000 | 822615 |
| &nbsp;&nbsp;4.000%, due 1/31/33 | 2165000 | 2161279 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **U.S. Government & Federal Agencies (continued)** |  |  |
| **U.S. Treasury Note (continued)** |  |  |
| &nbsp;&nbsp;4.000%, due 11/15/35 | $905000 | $886476 |
|  |  | 4429998 |
| **Total U.S. Government & Federal Agencies** |  |  |
| &nbsp;&nbsp;**(Cost $71,835,337)** |  | 72646942 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Short-Term Investment — 0.6%** |  |  |
| **Money Market Fund — 0.6%** |  |  |
| Dreyfus Treasury Obligations Cash Management Fund, 3.58%<sup>(f)</sup> |  |  |
| **(Cost $943,577)** | 943577 | 943577 |
| **Total Investments — 100.5%<br> (Cost $160,747,677)** |  | 162370687 |
| **Other Assets and Liabilities,<br> Net — (0.5)%** |  | (786210) |
| **Net Assets — 100.0%** |  | $161584477 |

---

------

(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 January 31, 2026.

(b) 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.

(c) 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.

(d) 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.

(e) The security was issued on a discount basis with no stated
 coupon rate. Rate shown reflects the effective yield.

(f) Reflects the 1-day yield at January 31, 2026.

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| CMT | - Constant Maturity Treasury Index |
| REMIC | - Real Estate Mortgage Investment Conduit |
| SOFR | - Secured Overnight Financing Rate |

---

Schedule of Investments ─ NYLI MacKay Securitized Income ETF (continued)

------

January 31, 2026 (unaudited)

**Open futures contracts outstanding at January 31, 2026:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Broker** | **Expiration Date** | **Number of<br> Contracts <br> Purchased <br> (Sold)** | **Notional <br> Value at <br> Trade Date** | **Notional Value at<br> January 31, 2026** | **Unrealized <br> Appreciation <br> (Depreciation)** |
| U.S. 10 Year Note (CBT) | Citigroup Global Markets, Inc. | March 2026 | 176 | $19933533 | $19681750 | $(251783) |
| U.S. 10 Year Ultra Note (CBT) | Citigroup Global Markets, Inc. | March 2026 | (53) | (6130393) | (6050281) | 80112 |
| U.S. 5 Year Note (CBT) | Citigroup Global Markets, Inc. | March 2026 | (2) | (217418) | (217860) | (442) |
| U.S. Long Bond (CBT) | Citigroup Global Markets, Inc. | March 2026 | (8) | (920043) | (921000) | (957) |
|  |  |  |  |  |  | $(173070) |

---

------

CBT — Chicago Board of Trade

Cash posted as collateral to broker for futures contracts was $221,288 at January 31, 2026.

The following is a summary of the inputs used to value the Fund's investments as of January 31, 2026. 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>(g)</sup> |  |  |  |  |
| &nbsp;&nbsp;Collateralized Loan Obligations | $— | $4624817 | $— | $4624817 |
| &nbsp;&nbsp;Collateralized Mortgage Obligations |  | 30608833 |  | 30608833 |
| &nbsp;&nbsp;Commercial Asset-Backed Securities |  | 25232672 |  | 25232672 |
| &nbsp;&nbsp;Commercial Mortgage-Backed Securities |  | 28313846 |  | 28313846 |
| &nbsp;&nbsp;U.S. Government & Federal Agencies |  | 72646942 |  | 72646942 |
| Short-Term Investment: |  |  |  |  |
| &nbsp;&nbsp;Money Market Fund | 943577 |  |  | 943577 |
| Total Investments in Securities | 943577 | 161427110 |  | 162370687 |
| Other Financial Instruments:<sup>(h)</sup> |  |  |  |  |
| &nbsp;&nbsp;Futures Contracts | 80112 |  |  | 80112 |
| Total Investments in Securities and Other Financial Instruments | $80112 | $161427110 | $— | $162450799 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments:<sup>(h)</sup> |  |  |  |  |
| &nbsp;&nbsp;Futures Contracts | $(253182) | $— | $— | $(253182) |

---

------

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

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

For the period ended January 31, 2026, 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 Securitized Income ETF

- **b. EDGAR series identifier (if any):** S000084196

- **c. LEI of Series:** 529900V03XWJN0RHX644

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

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

- **b. Date as of which information is reported:** 2026-01-31

**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:** $164266707.43

**Total Liabilities:** $1368294.25

**Net Assets:** $162898413.18

**Delayed Delivery Securities:** $775859.05

**Cash Not Reported:** $1116558.38

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 141.25756000 | **1-Year:** 4802.08993000 | **5-Year:** 39264.71003000 | **10-Year:** 24212.25100000 | **30-Year:** 686.17994000

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

- **3-Month:** 95.14586000 | **1-Year:** 2727.69135000 | **5-Year:** 4719.32382000 | **10-Year:** 2766.35223000 | **30-Year:** 469.95109000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248469 | 0.64%                | -0.12%               | 0.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $60279.85                | $263945.69                                 |
| Month 2  | $152920.09               | $-862496.76                                |
| Month 3  | $127444.19               | $259942.78                                 |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Securitized Bond Index

- **Index Identifier:** LHMN5582

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR ULTRA                                                                  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -53 | NC      | $80111.42     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382PMU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    601961 | PA      | $101031.48    | 0.06%             | 2051-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137H3LQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    938476 | PA      | $155543.88    | 0.10%             | 2051-11-25      | Fixed         | 3.00%                 | 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        |    300000 | PA      | $311305.23    | 0.19%             | 2041-12-25      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2013-CCRE6 Mortgage Trust                                                 | CUSIP: 12624XAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $162811.57    | 0.10%             | 2046-03-10      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| General Motors                              | GMF Floorplan Owner Revolving Trust                                            | CUSIP: 361886CW2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $103089.37    | 0.06%             | 2030-06-15      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2018-GS10                                         | CUSIP: 36250SAM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $363491.51    | 0.22%             | 2051-07-10      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137F6XW2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     75148 | PA      | $62344.97     | 0.04%             | 2049-03-25      | Fixed         | 1.25%                 | 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        |     95000 | PA      | $100997.35    | 0.06%             | 2042-07-25      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| Regatta 30 Funding Ltd.                     | Regatta 30 Funding Ltd                                                         | CUSIP: 75903UAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $301769.10    | 0.19%             | 2038-01-25      | Floating      | 5.32%                 | 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        |    500000 | PA      | $500314.45    | 0.31%             | 2044-07-25      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC 2014-USA OA LLC                                                           | CUSIP: 12649AAA7<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |    446556 | PA      | $410874.10    | 0.25%             | 2037-09-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se              | Natixis Commercial Mortgage Securities Trust 2020-2PAC                         | CUSIP: 63875DAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    475000 | PA      | $411116.97    | 0.25%             | 2037-01-15      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| United Wholsale Mortgage LLC                | UWM Mortgage Trust 2021-INV5                                                   | CUSIP: 90355DAY9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    561206 | PA      | $486933.68    | 0.30%             | 2052-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding              | Avis Budget Rental Car Funding AESOP LLC                                       | CUSIP: 05377RKJ2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    245000 | PA      | $248794.41    | 0.15%             | 2028-04-20      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust Series 2025-NQM4                                      | CUSIP: 46660HAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400646 | PA      | $401435.95    | 0.25%             | 2066-03-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | Comm 2014-UBS2 Mortgage Trust                                                  | CUSIP: 12591UAP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     47387 | PA      | $20921.30     | 0.01%             | 2047-03-10      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XMHT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     95226 | PA      | $98334.58     | 0.06%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WB Commercial Mortgage Trust                | WB Commercial Mortgage Trust 2024-HQ                                           | CUSIP: 92943PAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $530876.89    | 0.33%             | 2040-03-15      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust               | Citigroup Mortgage Loan Trust 2014-C                                           | CUSIP: 17323GAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640000 | PA      | $550618.05    | 0.34%             | 2054-02-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137F6TN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    676532 | PA      | $147456.14    | 0.09%             | 2050-11-25      | Fixed         | 3.50%                 | 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        |    650000 | PA      | $598927.62    | 0.37%             | 2028-12-15      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| Fortress Credit Opportunities               | Fortress Credit Opportunities XXI CLO LLC                                      | CUSIP: 34964UAN6<br>LEI: 254900WDNXJI5BDB6170 | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $300928.50    | 0.18%             | 2037-01-21      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BTGK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1232838 | PA      | $38959.42     | 0.02%             | 2054-11-25      | Floating      | 1.45%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2019-C51                                 | CUSIP: 95001VAX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    116000 | PA      | $108407.49    | 0.07%             | 2052-06-15      | Fixed         | 3.58%                 | 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        |    275000 | PA      | $276344.20    | 0.17%             | 2037-07-17      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384AQK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    150021 | PA      | $121271.94    | 0.07%             | 2052-07-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140X83H8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21466 | PA      | $19919.50     | 0.01%             | 2050-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382L2B6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     85974 | PA      | $9881.80      | 0.01%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                   | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22                    | CUSIP: 61690FAP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110000 | PA      | $106425.00    | 0.07%             | 2048-04-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan T              | Alternative Loan Trust 2005-IM1                                                | CUSIP: 12668A4B8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125524 | PA      | $116882.50    | 0.07%             | 2036-01-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                           | Magnetite 50 Ltd                                                               | CUSIP: 55956MAA7<br>LEI: 529900LA8YF5OY74OD31 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300758.70    | 0.18%             | 2038-07-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust              | Long Beach Mortgage Loan Trust 2004-3                                          | CUSIP: 542514GM0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95550 | PA      | $96193.37     | 0.06%             | 2034-07-25      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382NP76<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    233819 | PA      | $842.52       | 0.00%             | 2051-02-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| CFK Trust                                   | CFK Trust 2020-MF2                                                             | CUSIP: 12529AAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490000 | PA      | $372504.91    | 0.23%             | 2039-03-15      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2014-CCRE20 Mortgage Trust                                                | CUSIP: 12592LAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $220872.00    | 0.14%             | 2047-11-10      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140Q9JA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     53413 | PA      | $53251.62     | 0.03%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer              | WaMu Mortgage Pass-Through Certificates Series 2005-AR16 Trust                 | CUSIP: 92922F6W3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     55100 | PA      | $50489.49     | 0.03%             | 2035-12-25      | Variable      | 4.33%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2021-11                                               | CUSIP: 46654KBU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10554537 | PA      | $134139.72    | 0.08%             | 2052-01-25      | Variable      | 0.22%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EB82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2961724 | PA      | $2409883.61   | 1.48%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                 | OCP CLO 2017-14 Ltd                                                            | CUSIP: 67097QAN5<br>LEI: 25490025Q5WQX513IQ05 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250764.25    | 0.15%             | 2037-07-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se              | Natixis Commercial Mortgage Securities Trust 2019-MILE                         | CUSIP: 63875FAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    339543 | PA      | $324696.97    | 0.20%             | 2036-07-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2017-BNK8                                                                 | CUSIP: 06650AAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $230955.35    | 0.14%             | 2050-11-15      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit               | Freddie Mac Mscr Trust Mn9                                                     | CUSIP: 355917AC9<br>LEI: 529900KWKEUIIIV9P337 | Long             | ABS-MBS          | USGSE             | US        |    530000 | PA      | $559181.59    | 0.34%             | 2044-10-25      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418D7E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3461324 | PA      | $2819124.76   | 1.73%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pas              | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-8 Trust | CUSIP: 93934FCQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29166 | PA      | $27869.77     | 0.02%             | 2035-10-25      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortgage-Backed Securities Trust 2022-PJ3                                   | CUSIP: 362924AE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    916025 | PA      | $769460.60    | 0.47%             | 2052-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2025-R2                                             | CUSIP: 92541EAC6<br>LEI: 2138003KWTZZS4PBW772 | Long             | ABS-MBS          | CORP              | US        |    391356 | PA      | $394332.53    | 0.24%             | 2067-07-25      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418ER77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    837520 | PA      | $840625.66    | 0.52%             | 2053-05-01      | Fixed         | 5.00%                 | 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        |    780000 | PA      | $795337.92    | 0.49%             | 2029-11-15      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Loandepot GMSR Master Trust                 | LOANDEPOT GMSR Master Trust                                                    | CUSIP: 53946TAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    520000 | PA      | $524050.28    | 0.32%             | 2030-07-16      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch               | BAMLL Commercial Mortgage Securities Trust 2016-ISQ                            | CUSIP: 05523GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    495000 | PA      | $411468.75    | 0.25%             | 2034-08-14      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382WBD8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    977566 | PA      | $133253.00    | 0.08%             | 2051-07-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382ML56<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     63090 | PA      | $9648.96      | 0.01%             | 2050-12-20      | Fixed         | 2.50%                 | 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        |    565000 | PA      | $570167.77    | 0.35%             | 2032-02-17      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FUFU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1349695 | PA      | $172502.98    | 0.11%             | 2050-07-25      | Floating      | 2.29%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-BRBK                                         | CUSIP: 05613NAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    265000 | PA      | $265993.75    | 0.16%             | 2041-10-15      | Floating      | 9.65%                 | No            |                  2 | On Loan: No      |
| Bank                                        | Bank 2019-BNK19                                                                | CUSIP: 06540WBF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80000 | PA      | $69937.69     | 0.04%             | 2061-08-15      | Fixed         | 3.65%                 | 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        |    115000 | PA      | $118912.71    | 0.07%             | 2050-03-25      | Floating      | 11.31%                | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur              | Bridgecrest Lending Auto Securitization Trust 2024-1                           | CUSIP: 107933AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $252252.43    | 0.15%             | 2029-04-16      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-DNA1                                        | CUSIP: 35564KBD0<br>LEI: 5493000IT1PBTE7DAT80 | Long             | ABS-MBS          | CORP              | US        |    580000 | PA      | $612063.62    | 0.38%             | 2051-01-25      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus              | CSAIL 2018-C14 Commercial Mortgage Trust                                       | CUSIP: 12596GBF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    405000 | PA      | $364455.61    | 0.22%             | 2051-11-15      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| BLACKROCK RAINIER CLO LTD                   | Blackrock Rainier CLO VI Ltd                                                   | CUSIP: 09261MAQ9<br>LEI: 549300HF4E86WXQDUX86 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250842.25    | 0.15%             | 2037-04-20      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2021-3                                              | CUSIP: 33846QAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    514000 | PA      | $504617.14    | 0.31%             | 2027-09-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HKCT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    980302 | PA      | $29544.06     | 0.02%             | 2055-03-25      | Floating      | 1.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Securitized Participation Interests Trust 2018-SPI3          | CUSIP: 3137G1DF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    689979 | PA      | $538570.32    | 0.33%             | 2048-08-25      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                 | RCKT Mortgage Trust 2022-2                                                     | CUSIP: 74938WAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    463120 | PA      | $388129.08    | 0.24%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382J4U7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    120619 | PA      | $17834.78     | 0.01%             | 2050-10-20      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 31427NW88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    309760 | PA      | $317155.06    | 0.19%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XBG46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    127442 | PA      | $110278.10    | 0.07%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DSQK1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3518497 | PA      | $2873365.35   | 1.76%             | 2052-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                  | Progress Residential 2025-SFR4 Trust                                           | CUSIP: 74290JAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    440000 | PA      | $438029.20    | 0.27%             | 2042-08-17      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | CarMax Auto Owner Trust 2024-1                                                 | CUSIP: 14318WAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $81768.97     | 0.05%             | 2029-08-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383F6G3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1043154 | PA      | $10296.24     | 0.01%             | 2052-06-20      | Floating      | 0.01%                 | 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        |    525000 | PA      | $331362.89    | 0.20%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2015-GC30                                         | CUSIP: 36250GAU9<br>LEI: 549300L45M7638EL0H21 | Long             | ABS-MBS          | CORP              | US        |    104941 | PA      | $101777.37    | 0.06%             | 2050-05-10      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BBCM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    535000 | PA      | $408722.35    | 0.25%             | 2050-08-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382LQD6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     61420 | PA      | $7573.52      | 0.00%             | 2050-11-20      | Fixed         | 2.00%                 | 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        |    555000 | PA      | $477857.11    | 0.29%             | 2049-11-15      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3133B6BL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     85563 | PA      | $69500.52     | 0.04%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWKU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    198141 | PA      | $198316.26    | 0.12%             | 2054-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                  | Apidos CLO LI Ltd                                                              | CUSIP: 03771JAE9<br>LEI: 254900K0UHSUBZXUMR56 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250562.50    | 0.15%             | 2038-01-20      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Banc of America Mortgage Secur              | Banc of America Mortgage 2005-A Trust                                          | CUSIP: 05949AJ27<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15784 | PA      | $15414.39     | 0.01%             | 2035-02-25      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EDC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1361601 | PA      | $1163089.03   | 0.71%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust                                            | CUSIP: 30166XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    275000 | PA      | $280557.97    | 0.17%             | 2031-10-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382DM30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     74845 | PA      | $9386.10      | 0.01%             | 2050-03-20      | Floating      | 2.26%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT              | Golub Capital Partners CLO 76 B Ltd                                            | CUSIP: 38180BAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250507.00    | 0.15%             | 2037-10-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Ares Direct Lending CLO LLC                 | Ares Direct Lending CLO 3 LLC                                                  | CUSIP: 039945AB6<br>LEI: 254900TU6Z546P794928 | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $250226.00    | 0.15%             | 2037-01-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382LZ87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    978187 | PA      | $109194.26    | 0.07%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140X6PP0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     81368 | PA      | $72875.78     | 0.04%             | 2050-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384KVY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3282510 | PA      | $129076.50    | 0.08%             | 2054-03-20      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3133KN4F7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    674935 | PA      | $628683.15    | 0.39%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2022-J1 Trust                                                              | CUSIP: 67116WAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1053230 | PA      | $878789.20    | 0.54%             | 2052-02-25      | Variable      | 2.50%                 | 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        |    685000 | PA      | $724197.07    | 0.44%             | 2042-01-25      | Floating      | 11.35%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BHWC9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    793955 | PA      | $105006.06    | 0.06%             | 2051-03-25      | Fixed         | 2.50%                 | 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        |    285000 | PA      | $239362.21    | 0.15%             | 2061-10-20      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2019-INV2 Trust                                                            | CUSIP: 67112VAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     31311 | PA      | $29515.81     | 0.02%             | 2049-05-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381KAF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    265000 | PA      | $194336.82    | 0.12%             | 2064-08-16      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO                                | Owl Rock CLO XX LLC                                                            | CUSIP: 69122LAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $250680.50    | 0.15%             | 2034-10-24      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140W1WA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    356921 | PA      | $366622.77    | 0.23%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2021-RISE                                                             | CUSIP: 12434EAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84533 | PA      | $84506.50     | 0.05%             | 2036-11-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140QAJE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27228 | PA      | $27094.84     | 0.02%             | 2049-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer              | WaMu Mortgage Pass-Through Certificates Series 2002-AR17 Trust                 | CUSIP: 929227XB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19549 | PA      | $18920.25     | 0.01%             | 2042-11-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382MCH0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    121433 | PA      | $17195.61     | 0.01%             | 2050-12-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur              | Bridgecrest Lending Auto Securitization Trust 2025-3                           | CUSIP: 107920AG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $604796.40    | 0.37%             | 2032-05-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381HVY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    871232 | PA      | $59512.89     | 0.04%             | 2065-10-16      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWDC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4352669 | PA      | $3542339.77   | 2.17%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2021-12                                               | CUSIP: 46592WAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1095836 | PA      | $920474.71    | 0.57%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381MUH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2296025 | PA      | $117809.51    | 0.07%             | 2066-03-16      | Variable      | 0.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382UF55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    341843 | PA      | $265378.96    | 0.16%             | 2051-06-20      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                | Huntington Bank Auto Credit-Linked Notes Series 2024-2                         | CUSIP: 44644NAL3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    453574 | PA      | $458310.59    | 0.28%             | 2032-10-20      | Floating      | 11.20%                | 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        |        -8 | NC      | $-956.62      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer              | WaMu Mortgage Pass-Through Certificates Series 2005-AR6 Trust                  | CUSIP: 92922FJ25<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     47008 | PA      | $45787.09     | 0.03%             | 2045-04-25      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137F6PH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     50894 | PA      | $9300.65      | 0.01%             | 2050-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136B4XC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     49311 | PA      | $5346.70      | 0.00%             | 2049-06-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2016-NXS5                                | CUSIP: 95000CBJ1<br>LEI: 549300SGFUCMB43V8P22 | Long             | ABS-MBS          | CORP              | US        |    469000 | PA      | $357124.74    | 0.22%             | 2059-01-15      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2016-DC2 Mortgage Trust                                                   | CUSIP: 12594CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    760000 | PA      | $692178.66    | 0.42%             | 2049-02-10      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HADW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    411748 | PA      | $289710.60    | 0.18%             | 2050-09-25      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BFHM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     76020 | PA      | $69692.18     | 0.04%             | 2050-07-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit               | Freddie Mac Mscr Trust Mn10                                                    | CUSIP: 35563UAC2<br>LEI: 529900M14O2Z3FO2N217 | Long             | ABS-MBS          | USGSE             | US        |    570000 | PA      | $577119.64    | 0.35%             | 2045-02-25      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| DBUBS Mortgage Trust                        | DBUBS 2011-LC3 Mortgage Trust                                                  | CUSIP: 23305YAW9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $416832.00    | 0.26%             | 2044-05-10      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corpor              | Banc of America Funding 2006-I Trust                                           | CUSIP: 05951VAV1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29661 | PA      | $26873.99     | 0.02%             | 2046-12-20      | Floating      | 4.17%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWCB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1844690 | PA      | $1504156.99   | 0.92%             | 2051-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2017-BNK7                                                                 | CUSIP: 06541XAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440000 | PA      | $396723.23    | 0.24%             | 2060-09-15      | Variable      | 3.97%                 | 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        |    505000 | PA      | $453827.64    | 0.28%             | 2028-04-17      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWNE9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1330812 | PA      | $1304987.23   | 0.80%             | 2054-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                      | Sequoia Mortgage Trust 2023-2                                                  | CUSIP: 81744KCE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    420832 | PA      | $399645.20    | 0.25%             | 2053-03-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Regatta Funding                             | Regatta XI Funding Ltd                                                         | CUSIP: 75887XAN7<br>LEI: 254900TUAAER6MTE4E64 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250798.25    | 0.15%             | 2037-07-17      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2025-4                                     | CUSIP: 30167KAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    435000 | PA      | $438390.37    | 0.27%             | 2032-01-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418ED64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1847545 | PA      | $1643194.64   | 1.01%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382UVH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    148418 | PA      | $18735.10     | 0.01%             | 2051-06-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2025-ARIA                                                             | CUSIP: 05619TAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $558749.13    | 0.34%             | 2042-12-13      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se              | Natixis Commercial Mortgage Securities Trust 2021-APPL                         | CUSIP: 63874AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     92817 | PA      | $90472.03     | 0.06%             | 2038-08-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus              | Carmax Select Receivables Trust 2025-B                                         | CUSIP: 14320BAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410000 | PA      | $413924.89    | 0.25%             | 2031-07-15      | Fixed         | 5.33%                 | 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        |     64299 | PA      | $57443.11     | 0.04%             | 2035-05-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2018-HCLV Mortgage Trust                                                  | CUSIP: 20048KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $392265.61    | 0.24%             | 2033-09-15      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                             | Zayo Issuer LLC                                                                | CUSIP: 98919WAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $487670.06    | 0.30%             | 2055-06-20      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| RIN Ltd                                     | RIN V LLC                                                                      | CUSIP: 74970TAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    350000 | PA      | $349991.95    | 0.21%             | 2036-10-14      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2018-C44                                 | CUSIP: 95001JAC1<br>LEI: 549300AGZIS1CJS4RM30 | Long             | ABS-MBS          | CORP              | US        |    710000 | PA      | $517076.03    | 0.32%             | 2051-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                   | Towd Point Mortgage Trust 2017-4                                               | CUSIP: 89173UAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    249771 | PA      | $176838.00    | 0.11%             | 2057-06-25      | Variable      | 3.64%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381QQF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    664756 | PA      | $51761.73     | 0.03%             | 2055-08-20      | Floating      | 2.35%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2025-R1 Trust                                                              | CUSIP: 67123GAC9<br>LEI: 254900UIO03AL696QM79 | Long             | ABS-MBS          | CORP              | US        |    567113 | PA      | $569219.70    | 0.35%             | 2062-09-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2018-H3                                         | CUSIP: 61767YAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    135000 | PA      | $110201.72    | 0.07%             | 2051-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3133KNLB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    195331 | PA      | $168598.08    | 0.10%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                 | Hertz Vehicle Financing III LLC                                                | CUSIP: 42806MDE6<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    445000 | PA      | $463721.37    | 0.28%             | 2029-12-26      | Fixed         | 8.55%                 | 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      | $454322.30    | 0.28%             | 2034-05-10      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382UVG3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    121669 | PA      | $15746.82     | 0.01%             | 2051-06-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140HJJS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21568 | PA      | $20969.75     | 0.01%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                   | CIM Trust 2019-INV1                                                            | CUSIP: 12555DAY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    342503 | PA      | $338251.92    | 0.21%             | 2049-02-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2024-1                                            | CUSIP: 26208WAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $75982.29     | 0.05%             | 2031-11-17      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                        | Signal Peak CLO 12 Ltd                                                         | CUSIP: 82671XAQ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250685.25    | 0.15%             | 2037-07-18      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortgage-Backed Securities Trust 2023-PJ1                                   | CUSIP: 36267TAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1332582 | PA      | $1217164.27   | 0.75%             | 2053-02-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch               | BAMLL Commercial Mortgage Securities Trust 2014-520M                           | CUSIP: 05525MAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $344011.13    | 0.21%             | 2046-08-15      | Variable      | 4.18%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382PS29<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    168110 | PA      | $18930.34     | 0.01%             | 2048-01-20      | Fixed         | 2.50%                 | 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        |    478457 | PA      | $394687.27    | 0.24%             | 2052-07-25      | Variable      | 3.09%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2018-B6 Mortgage Trust                                               | CUSIP: 08162CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    605000 | PA      | $456522.11    | 0.28%             | 2051-10-10      | Variable      | 3.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EKU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    401395 | PA      | $402965.83    | 0.25%             | 2052-11-01      | 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        |    279725 | PA      | $295309.61    | 0.18%             | 2039-11-25      | Floating      | 13.06%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132E0FK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    512177 | PA      | $442797.63    | 0.27%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382QAM2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2283522 | PA      | $304693.72    | 0.19%             | 2051-03-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortgage-Backed Securities Trust 2022-HP1                                   | CUSIP: 36265LAV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    501597 | PA      | $420985.27    | 0.26%             | 2052-09-25      | Variable      | 3.31%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                     | Flagstar Mortgage Trust 2021-6INV                                              | CUSIP: 33851GAU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    137897 | PA      | $115196.02    | 0.07%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2021-2                                              | CUSIP: 33844WAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410000 | PA      | $399845.00    | 0.25%             | 2028-09-15      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| First Investors Auto Owner Tru              | First Investors Auto Owner Trust 2023-1                                        | CUSIP: 320986AG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    285000 | PA      | $297744.37    | 0.18%             | 2031-01-15      | Fixed         | 7.74%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CGH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    560000 | PA      | $559628.13    | 0.34%             | 2028-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Shentel Issuer LLC                          | Shentel Issuer LLC                                                             | CUSIP: 82321AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480000 | PA      | $487649.95    | 0.30%             | 2055-12-20      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BKHZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    291907 | PA      | $51952.22     | 0.03%             | 2051-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWFF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1442187 | PA      | $1417774.60   | 0.87%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418ESR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    917529 | PA      | $879083.37    | 0.54%             | 2053-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DUT49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    690949 | PA      | $705782.76    | 0.43%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2025-4                                     | CUSIP: 30167KAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295000 | PA      | $298356.63    | 0.18%             | 2033-04-15      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B14 Mortgage Trust                                              | CUSIP: 08162YAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    485000 | PA      | $343451.93    | 0.21%             | 2062-12-15      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-HQA2                                              | CUSIP: 35564MBE4<br>LEI: 549300NKHCH87PYOHD44 | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $509869.23    | 0.31%             | 2049-04-25      | Floating      | 15.06%                | No            |                  2 | On Loan: No      |
| CHEVY CHASE MORTGAGE FUNDING C              | Chevy Chase Funding LLC Mortgage-Backed Certificates Series 2005-A             | CUSIP: 16678RDC8<br>LEI: 549300VJ603C97L1MC67 | Long             | ABS-MBS          | CORP              | US        |     24300 | PA      | $23377.76     | 0.01%             | 2036-01-25      | Floating      | 4.04%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes                       | Tricon American Homes 2020-SFR1                                                | CUSIP: 89613GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    335000 | PA      | $330974.41    | 0.20%             | 2038-07-17      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2024-1                                              | CUSIP: 33843VAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    345000 | PA      | $345497.32    | 0.21%             | 2030-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3133KY6U8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    313418 | PA      | $310436.21    | 0.19%             | 2046-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382AGG4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     26497 | PA      | $24072.33     | 0.01%             | 2049-10-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382NAB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2070237 | PA      | $6529.94      | 0.00%             | 2051-01-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418FGY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    357723 | PA      | $362853.99    | 0.22%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418ED56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    761688 | PA      | $650647.78    | 0.40%             | 2052-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383CYH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    983434 | PA      | $137837.59    | 0.08%             | 2050-11-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2017-BNK6                                                                 | CUSIP: 060352AV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    470000 | PA      | $407117.20    | 0.25%             | 2060-07-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383V7L6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    615144 | PA      | $90026.80     | 0.06%             | 2050-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418D4Y5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2641245 | PA      | $2259882.28   | 1.39%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2021-1                                              | CUSIP: 33843WAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     52232 | PA      | $51888.34     | 0.03%             | 2027-03-15      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Accepta              | Mello Mortgage Capital Acceptance 2021-MTG1                                    | CUSIP: 585495BN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105023 | PA      | $87628.37     | 0.05%             | 2051-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 31427NA58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    980483 | PA      | $1019848.46   | 0.63%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST                          | Seasoned Loans Structured Transaction Series 2018-1                            | CUSIP: 35564CAA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     44070 | PA      | $43313.12     | 0.03%             | 2028-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383CTL4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1164980 | PA      | $191667.94    | 0.12%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Ginniemae Strip                             | Ginnie Mae Strip                                                               | CUSIP: 37610VAA3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     15092 | PA      | $13290.75     | 0.01%             | 2034-07-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                         | BWAY 2013-1515 Mortgage Trust                                                  | CUSIP: 05604FAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    285000 | PA      | $262923.50    | 0.16%             | 2033-03-10      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2019-8                                                | CUSIP: 46591KAZ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10703 | PA      | $10485.78     | 0.01%             | 2050-03-25      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                  | LAD Auto Receivables Trust 2024-2                                              | CUSIP: 505920AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    430000 | PA      | $444087.40    | 0.27%             | 2031-10-15      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XYN8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    231191 | PA      | $189753.45    | 0.12%             | 2053-04-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383HFY0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     73817 | PA      | $12400.90     | 0.01%             | 2051-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CPT2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    825000 | PA      | $822615.24    | 0.50%             | 2029-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CAMB Commercial Mortgage Trust              | CAMB Commercial Mortgage Trust 2021-CX2                                        | CUSIP: 12477BAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $471522.12    | 0.29%             | 2046-11-10      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWEQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2089276 | PA      | $1934545.62   | 1.19%             | 2052-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382MGE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    365142 | PA      | $51773.95     | 0.03%             | 2050-12-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382RR75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     79155 | PA      | $13452.86     | 0.01%             | 2051-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382JXP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    149130 | PA      | $1116.52      | 0.00%             | 2050-09-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Texas Debt Capital CLO, Ltd                 | Texas Debt Capital CLO 2024-II Ltd                                             | CUSIP: 88238EAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $251812.00    | 0.15%             | 2037-01-24      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWFS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    532446 | PA      | $542551.30    | 0.33%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit              | Bain Capital Credit CLO 2021-6 Ltd                                             | CUSIP: 05684PAU0<br>LEI: 254900YXN9JEMKU5DF45 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $246970.00    | 0.15%             | 2034-10-21      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu              | WP Glimcher Mall Trust 2015-WPG                                                | CUSIP: 92939VAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $382495.50    | 0.23%             | 2035-06-05      | Variable      | 3.52%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EP20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1451530 | PA      | $1457135.04   | 0.89%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JP Morgan Chase Commercial Mortgage Securities Trust 2021-1440                 | CUSIP: 46653DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    355000 | PA      | $333900.86    | 0.20%             | 2036-03-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BL3H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    607417 | PA      | $69197.19     | 0.04%             | 2052-02-25      | Floating      | 2.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382KWJ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    125464 | PA      | $16949.52     | 0.01%             | 2050-10-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38380RHQ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    233220 | PA      | $13688.33     | 0.01%             | 2062-06-16      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140X7KB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27633 | PA      | $24775.01     | 0.02%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2019-IMC                                          | CUSIP: 05608BAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330000 | PA      | $323997.99    | 0.20%             | 2034-04-15      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes                       | Tricon American Homes 2020-SFR1                                                | CUSIP: 89613GAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    460000 | PA      | $454527.43    | 0.28%             | 2038-07-17      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note              | Toyota Auto Loan Extended Note Trust 2023-1                                    | CUSIP: 89231WAA1<br>LEI: 5493000KI9FC40RVHF71 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102221.62    | 0.06%             | 2036-06-25      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383TLA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5251051 | PA      | $54847.75     | 0.03%             | 2052-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRU              | SoFi Consumer Loan Program 2025-1 Trust                                        | CUSIP: 83406YAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $375901.76    | 0.23%             | 2034-02-27      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2017-BNK8                                                                 | CUSIP: 06650AAU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $105190.06    | 0.06%             | 2050-11-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BSLE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2142495 | PA      | $118207.22    | 0.07%             | 2054-07-25      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 31325URK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1148212 | PA      | $118645.90    | 0.07%             | 2043-08-15      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                  | GLS Auto Receivables Issuer Trust 2025-1                                       | CUSIP: 36271KAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    610000 | PA      | $620475.35    | 0.38%             | 2030-11-15      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| DLIC Re-REMIC Trust                         | DLIC Re-REMIC Trust 2025-FRR1                                                  | CUSIP: 255928BA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    495000 | PA      | $418180.55    | 0.26%             | 2052-12-27      | Variable      | 1.63%                 | 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        |       176 | NC      | $-251783.32   | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137H5N86<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     64775 | PA      | $11588.36     | 0.01%             | 2050-09-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1082654 | PA      | $1101106.67   | 0.68%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418ED80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1004791 | PA      | $962081.98    | 0.59%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                          | Subway Funding LLC                                                             | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    351450 | PA      | $356080.85    | 0.22%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FWMZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    880680 | PA      | $17942.09     | 0.01%             | 2050-10-25      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3128HXY25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    144032 | PA      | $111912.18    | 0.07%             | 2042-08-15      | None          | 0.00%                 | 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        |    445000 | PA      | $377394.67    | 0.23%             | 2052-06-15      | Variable      | 4.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383LBB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    302273 | PA      | $32985.84     | 0.02%             | 2050-02-20      | Floating      | 2.26%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383C3B4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    123337 | PA      | $102137.07    | 0.06%             | 2051-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                   | CIM Trust 2025-NR1                                                             | CUSIP: 17181YAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    249076 | PA      | $248982.75    | 0.15%             | 2064-06-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                 | RCKT Mortgage Trust 2021-5                                                     | CUSIP: 749384AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4241321 | PA      | $3560058.56   | 2.19%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora              | Chase Mortgage Finance Trust Series 2005-S3                                    | CUSIP: 16162WNQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     46201 | PA      | $32138.87     | 0.02%             | 2035-11-25      | Fixed         | 5.50%                 | 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        |    715000 | PA      | $750528.35    | 0.46%             | 2040-02-25      | Floating      | 10.56%                | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Tru              | IndyMac INDX Mortgage Loan Trust 2005-AR12                                     | CUSIP: 45660LMG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70141 | PA      | $65971.52     | 0.04%             | 2035-07-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JN94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1492765 | PA      | $91829.84     | 0.06%             | 2065-10-16      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XKAD2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     46874 | PA      | $48101.10     | 0.03%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38385DFK7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    245048 | PA      | $253366.35    | 0.16%             | 2054-11-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust               | Citigroup Mortgage Loan Trust 2025-LTV1                                        | CUSIP: 17332XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    486683 | PA      | $487647.86    | 0.30%             | 2055-12-25      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31424U8A7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1281581 | PA      | $271313.39    | 0.17%             | 2053-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                | AGL CLO 35 Ltd                                                                 | CUSIP: 00852KAB0<br>LEI: 254900LDCU83O7QV9777 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250640.50    | 0.15%             | 2038-01-21      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | STACR Trust 2018-HRP1                                                          | CUSIP: 3137G0VB2<br>LEI: 549300D2VO9JVX6KU482 | Long             | ABS-MBS          | CORP              | US        |    523629 | PA      | $617059.97    | 0.38%             | 2043-05-25      | Floating      | 15.56%                | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                             | Zayo Issuer LLC                                                                | CUSIP: 98919WAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    470000 | PA      | $478350.40    | 0.29%             | 2055-03-20      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382LTQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    115750 | PA      | $14673.25     | 0.01%             | 2050-12-20      | Floating      | 2.07%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2021-2                                              | CUSIP: 33844WAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     68394 | PA      | $67574.24     | 0.04%             | 2027-06-15      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortgage-Backed Securities Corp Trust 2022-PJ4                              | CUSIP: 36264RAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1554226 | PA      | $1305549.85   | 0.80%             | 2052-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DSS52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     61599 | PA      | $63021.01     | 0.04%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-VLT5                                         | CUSIP: 05614JAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    360000 | PA      | $386714.05    | 0.24%             | 2046-11-13      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31422MZU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    170708 | PA      | $16217.14     | 0.01%             | 2052-02-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136ARD62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    113284 | PA      | $10570.73     | 0.01%             | 2046-04-25      | Floating      | 2.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383VFN3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    170839 | PA      | $155685.64    | 0.10%             | 2052-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                          | 1301 Trust 2025-AOA                                                            | CUSIP: 682461AJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385000 | PA      | $393910.67    | 0.24%             | 2042-08-11      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                     | Flagstar Mortgage Trust 2021-9INV                                              | CUSIP: 33851MAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    999689 | PA      | $904519.59    | 0.56%             | 2041-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                  | NCMF Trust 2025-MFS                                                            | CUSIP: 62887TAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $380834.63    | 0.23%             | 2033-06-10      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2016-DC2 Mortgage Trust                                                   | CUSIP: 12594CBK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $387400.75    | 0.24%             | 2049-02-10      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| Residential Accredit Loans, In              | RALI Series 2007-QO3 Trust                                                     | CUSIP: 74923TAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     82109 | PA      | $77702.98     | 0.05%             | 2047-03-25      | Floating      | 4.11%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3128HWPJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     45513 | PA      | $38058.82     | 0.02%             | 2037-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding              | Avis Budget Rental Car Funding AESOP LLC                                       | CUSIP: 05377RJY1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    495000 | PA      | $511905.91    | 0.31%             | 2030-02-20      | Fixed         | 7.52%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS II LLC                       | QTS Issuer ABS II LLC                                                          | CUSIP: 74690FAS5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $454763.66    | 0.28%             | 2056-01-05      | Fixed         | 6.73%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XRQF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    278149 | PA      | $273956.57    | 0.17%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BWDC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1638961 | PA      | $62202.65     | 0.04%             | 2055-06-25      | Floating      | 1.40%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3133Q3C33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     78828 | PA      | $66937.48     | 0.04%             | 2053-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3142G4PC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    563714 | PA      | $97195.70     | 0.06%             | 2053-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382LBS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    430114 | PA      | $58955.21     | 0.04%             | 2050-11-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383RYT8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2078040 | PA      | $19956.25     | 0.01%             | 2052-05-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-HQA3                                        | CUSIP: 35564KKL2<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |   1070000 | PA      | $1100634.42   | 0.68%             | 2041-09-25      | Floating      | 9.95%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                    | Mill City Mortgage Loan Trust 2018-4                                           | CUSIP: 59980YAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    414516 | PA      | $247375.11    | 0.15%             | 2066-04-25      | Variable      | 3.04%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383CFZ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     94550 | PA      | $16080.13     | 0.01%             | 2051-10-20      | Fixed         | 3.00%                 | 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        |     75000 | PA      | $81534.81     | 0.05%             | 2056-12-15      | Variable      | 6.49%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWHA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    110549 | PA      | $113913.60    | 0.07%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                   | CIM Trust 2021-J3                                                              | CUSIP: 12565VBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    112004 | PA      | $93453.47     | 0.06%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Recei              | Exeter Select Automobile Receivables Trust 2025-3                              | CUSIP: 30185FAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $404081.56    | 0.25%             | 2032-05-17      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWDZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    438896 | PA      | $389794.41    | 0.24%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2022-ONL                                 | CUSIP: 95003WAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $321804.35    | 0.20%             | 2039-12-15      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-FTR3                                              | CUSIP: 35565EAE2<br>LEI: 5493009ZFZYH4FRCW638 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $546795.20    | 0.34%             | 2047-09-25      | Floating      | 8.79%                 | 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        |    375000 | PA      | $366264.60    | 0.22%             | 2029-10-15      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418D2D3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1200239 | PA      | $995924.98    | 0.61%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                             | CUSIP: 3622AC5F3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1216323 | PA      | $1077662.83   | 0.66%             | 2053-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust              | SWCH Commercial Mortgage Trust 2025-DATA                                       | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    320000 | PA      | $317700.00    | 0.20%             | 2042-02-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2020-BNK25                                                                | CUSIP: 06539WAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $311051.16    | 0.19%             | 2063-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Aimco                                       | AIMCO CLO Series 2018-A                                                        | CUSIP: 00900GAQ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300956.10    | 0.18%             | 2037-10-17      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38379XY20<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    598492 | PA      | $139401.16    | 0.09%             | 2044-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FU6G4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    136391 | PA      | $18241.45     | 0.01%             | 2050-07-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38380RA75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    356645 | PA      | $23571.99     | 0.01%             | 2061-03-16      | Variable      | 0.99%                 | 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        |    440000 | PA      | $382950.88    | 0.24%             | 2049-07-15      | Fixed         | 3.00%                 | 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        |   1070000 | PA      | $814756.53    | 0.50%             | 2051-03-10      | Variable      | 3.14%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fun              | Bayview Opportunity Master Fund VII 2024-EDU1 LLC                              | CUSIP: 07336PAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     56153 | PA      | $56992.66     | 0.03%             | 2047-06-25      | Floating      | 6.45%                 | 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        |    939352 | PA      | $794639.21    | 0.49%             | 2051-08-25      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XSW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     49398 | PA      | $45830.55     | 0.03%             | 2053-04-20      | Floating      | 3.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JZC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1901144 | PA      | $132952.48    | 0.08%             | 2065-07-16      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HLKW1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    530822 | PA      | $36160.57     | 0.02%             | 2055-06-25      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137H3AM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     82893 | PA      | $14344.16     | 0.01%             | 2050-07-25      | Fixed         | 3.00%                 | 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        |    335000 | PA      | $325363.86    | 0.20%             | 2028-03-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    447767 | PA      | $376248.66    | 0.23%             | 2060-07-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                             | Zayo Issuer LLC                                                                | CUSIP: 98919WAN3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    485000 | PA      | $488045.36    | 0.30%             | 2055-10-20      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur              | Bridgecrest Lending Auto Securitization Trust 2026-1                           | CUSIP: 107927AF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    375000 | PA      | $376185.71    | 0.23%             | 2031-11-17      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418ESJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    647549 | PA      | $660288.32    | 0.41%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BX6G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    866860 | PA      | $54013.73     | 0.03%             | 2055-06-25      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137F9Y54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     60831 | PA      | $10818.14     | 0.01%             | 2050-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EPD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    725727 | PA      | $738542.32    | 0.45%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust              | Hyundai Auto Receivables Trust 2024-B                                          | CUSIP: 44934QAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210000 | PA      | $215826.83    | 0.13%             | 2031-10-15      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus              | CarMax Select Receivables Trust 2025-A                                         | CUSIP: 14319UAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    305000 | PA      | $312257.41    | 0.19%             | 2031-07-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XPND7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66095 | PA      | $67613.39     | 0.04%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HHEW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3142125 | PA      | $120841.11    | 0.07%             | 2054-11-25      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust 2021-11                                               | CUSIP: 46654KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1349342 | PA      | $1133413.40   | 0.70%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382QAD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1612943 | PA      | $212419.89    | 0.13%             | 2051-03-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2021-230P                                       | CUSIP: 61772WAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $267093.75    | 0.16%             | 2038-12-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust               | Citigroup Mortgage Loan Trust 2025-4                                           | CUSIP: 17332NAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    265504 | PA      | $267152.60    | 0.16%             | 2055-10-25      | Variable      | 5.50%                 | 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        |     65000 | PA      | $66558.64     | 0.04%             | 2044-02-25      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                             | Fannie Mae Interest Strip                                                      | CUSIP: 31424UWR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    673477 | PA      | $149036.35    | 0.09%             | 2053-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382MV97<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    816007 | PA      | $141581.08    | 0.09%             | 2051-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    389522 | PA      | $327129.44    | 0.20%             | 2060-07-15      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                   | Towd Point Mortgage Trust 2018-2                                               | CUSIP: 89175VAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1216969 | PA      | $539220.19    | 0.33%             | 2058-03-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                          | CUSIP: 3128MJ4R8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11095 | PA      | $10802.66     | 0.01%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382TM27<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     74537 | PA      | $13536.17     | 0.01%             | 2051-06-20      | Fixed         | 3.00%                 | 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        |    259989 | PA      | $257791.50    | 0.16%             | 2053-08-01      | Variable      | 4.30%                 | 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        |    410000 | PA      | $408722.19    | 0.25%             | 2045-01-25      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382UYG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1079974 | PA      | $150663.59    | 0.09%             | 2051-06-20      | Floating      | 2.56%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                      | Sequoia Mortgage Trust 2025-S1                                                 | CUSIP: 81749TAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $338357.85    | 0.21%             | 2054-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BK4K5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     98794 | PA      | $12148.93     | 0.01%             | 2052-01-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer              | WaMu Mortgage Pass-Through Certificates Series 2004-AR8 Trust                  | CUSIP: 92922FTJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80046 | PA      | $80899.24     | 0.05%             | 2044-06-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-DNA5                                        | CUSIP: 35564KJB6<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $266475.00    | 0.16%             | 2034-01-25      | Floating      | 9.20%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    422742 | PA      | $266368.15    | 0.16%             | 2060-07-15      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38380REA4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2056407 | PA      | $146159.75    | 0.09%             | 2062-12-16      | Variable      | 0.97%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2014-GC22                                         | CUSIP: 36253BAY9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $368438.15    | 0.23%             | 2047-06-10      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418E5P1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1457559 | PA      | $1478854.64   | 0.91%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hold For CS                                 | Multifamily Connecticut Avenue Securities Trust 2025-01                        | CUSIP: 62549CAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $613280.22    | 0.38%             | 2055-05-25      | Floating      | 8.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XKKS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21816 | PA      | $21902.88     | 0.01%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136B7L58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    174917 | PA      | $154324.22    | 0.09%             | 2050-01-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-FTR1                                              | CUSIP: 35564PAC2<br>LEI: 549300MHCI0CUXMJQS62 | Long             | ABS-MBS          | CORP              | US        |    385000 | PA      | $460837.99    | 0.28%             | 2048-01-25      | Floating      | 12.16%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BTSF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    424443 | PA      | $434496.33    | 0.27%             | 2035-10-25      | 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        |        -2 | NC      | $-441.85      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                             | CUSIP: 36179WR34<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    815762 | PA      | $737234.42    | 0.45%             | 2051-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Multifamily Connecticut Avenue              | Multifamily Connecticut Avenue Securities Trust 2019-01                        | CUSIP: 62547NAC3<br>LEI: 549300HG8ZEWVWVSN227 | Long             | ABS-MBS          | CORP              | US        |    435000 | PA      | $443553.41    | 0.27%             | 2049-10-25      | Floating      | 9.31%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | J.P. Morgan Mortgage Trust 2022-1                                              | CUSIP: 46654WAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    727054 | PA      | $610725.38    | 0.37%             | 2052-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137FYQ58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    474211 | PA      | $76422.89     | 0.05%             | 2051-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                | AGL CLO 32 Ltd                                                                 | CUSIP: 00121BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250767.50    | 0.15%             | 2037-07-21      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136ATEN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     57932 | PA      | $6279.88      | 0.00%             | 2046-06-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EAM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1523327 | PA      | $1240216.90   | 0.76%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-HQA4                                        | CUSIP: 35564KPP8<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |    713000 | PA      | $744414.78    | 0.46%             | 2041-12-25      | Floating      | 10.70%                | No            |                  2 | On Loan: No      |
| Banc of America Alternative Lo              | Banc of America Alternative Loan Trust 2005-11                                 | CUSIP: 05948KU80<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     37198 | PA      | $34000.54     | 0.02%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                  | ROCK Trust 2024-CNTR                                                           | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    445000 | PA      | $473070.87    | 0.29%             | 2041-11-13      | Fixed         | 8.82%                 | 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        |    466714 | PA      | $474125.56    | 0.29%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136B9ET0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     65407 | PA      | $7825.97      | 0.00%             | 2050-02-25      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Consolidated Communications LL              | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC                | CUSIP: 209031AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $409591.32    | 0.25%             | 2055-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2017-BNK4                                                                 | CUSIP: 06541FBF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255000 | PA      | $226355.62    | 0.14%             | 2050-05-15      | Variable      | 4.37%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                  | GLS Auto Receivables Issuer Trust 2024-2                                       | CUSIP: 37964VAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $718528.93    | 0.44%             | 2030-02-15      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortage-Backed Securities Trust 2020-PJ1                                    | CUSIP: 36258FAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    310441 | PA      | $281849.84    | 0.17%             | 2050-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3133KG6R4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31667 | PA      | $31681.99     | 0.02%             | 2049-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JA72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2243061 | PA      | $204135.16    | 0.13%             | 2066-02-16      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust                            | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                                        | CUSIP: 403956AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100437.50    | 0.06%             | 2037-05-15      | Floating      | 6.87%                 | 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        |     62048 | PA      | $60337.12     | 0.04%             | 2035-05-19      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137H67L3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     56428 | PA      | $5750.49      | 0.00%             | 2048-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382VAW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    105917 | PA      | $14270.11     | 0.01%             | 2051-06-20      | Floating      | 2.51%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    905000 | PA      | $886475.78    | 0.54%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BDR42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1052545 | PA      | $179159.44    | 0.11%             | 2051-02-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HKSD7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1252886 | PA      | $78432.39     | 0.05%             | 2055-04-25      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC 2021-NQM2                                                                 | CUSIP: 12662EAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395725 | PA      | $358625.09    | 0.22%             | 2066-02-25      | Variable      | 1.38%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S              | BBCMS Mortgage Trust 2024-C24                                                  | CUSIP: 07336VAW1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70000 | PA      | $73405.70     | 0.05%             | 2057-02-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                    | Mill City Mortgage Loan Trust 2018-3                                           | CUSIP: 59980XAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    728447 | PA      | $563432.22    | 0.35%             | 2058-08-25      | Variable      | 3.25%                 | 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        |    395000 | PA      | $399189.25    | 0.25%             | 2044-03-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382GK68<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    216044 | PA      | $26291.58     | 0.02%             | 2049-08-20      | Floating      | 2.31%                 | No            |                  2 | On Loan: No      |
| MLCC Mortgage Investors Inc                 | Merrill Lynch Mortgage Investors Trust Series MLCC 2004-F                      | CUSIP: 59020UNF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     49414 | PA      | $43408.90     | 0.03%             | 2029-12-25      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140M2SF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     97015 | PA      | $86200.50     | 0.05%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                 | Extended Stay America Trust 2026-ESH2                                          | CUSIP: 30227WAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    390000 | PA      | $392681.25    | 0.24%             | 2043-02-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2024-3                                                 | CUSIP: 14319GAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    485000 | PA      | $495966.14    | 0.30%             | 2030-03-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWE58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    514728 | PA      | $493257.74    | 0.30%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWBP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    706557 | PA      | $578219.76    | 0.35%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BXP Trust                                   | BXP Trust 2021-601L                                                            | CUSIP: 05607TAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    575000 | PA      | $506404.69    | 0.31%             | 2044-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3133KLPT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    966325 | PA      | $857386.04    | 0.53%             | 2051-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                    | Vantage Data Centers Issuer LLC                                                | CUSIP: 92212KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    585000 | PA      | $574669.60    | 0.35%             | 2046-10-15      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383XXB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     62925 | PA      | $69308.41     | 0.04%             | 2051-09-20      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 31334XTG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13261 | PA      | $11918.29     | 0.01%             | 2049-08-01      | Fixed         | 3.00%                 | 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        |     30122 | PA      | $24514.39     | 0.02%             | 2045-07-25      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2025-VOLT                                                             | CUSIP: 05619PAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    380000 | PA      | $381900.00    | 0.23%             | 2044-12-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| MFT Trust                                   | MFT Trust 2020-ABC                                                             | CUSIP: 55317BAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $208081.46    | 0.13%             | 2042-02-10      | Variable      | 3.48%                 | No            |                  2 | On Loan: No      |
| Great Lakes CLO Ltd                         | Great Lakes CLO 2019-1 Ltd                                                     | CUSIP: 390578AT9<br>LEI: 2549000VKJWRC8TSA617 | Long             | ABS-CBDO         | CORP              | KY        |    340000 | PA      | $340905.42    | 0.21%             | 2037-04-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur              | Bridgecrest Lending Auto Securitization Trust 2025-2                           | CUSIP: 10807HAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    390000 | PA      | $397129.04    | 0.24%             | 2031-03-17      | Fixed         | 5.62%                 | 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        |    445097 | PA      | $457115.21    | 0.28%             | 2032-09-15      | Fixed         | 11.39%                | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                  | Flagship Credit Auto Trust 2021-4                                              | CUSIP: 33845AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11442 | PA      | $11378.04     | 0.01%             | 2027-12-15      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| SILVER POINT SCF CLO LTD                    | Silver Point Scf Clo IV Ltd                                                    | CUSIP: 82809JAE9<br>LEI: 549300JT1NOSMVUW1B50 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $251136.50    | 0.15%             | 2036-10-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382KAZ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    134197 | PA      | $19483.98     | 0.01%             | 2050-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                  | Progress Residential 2025-SFR3 Trust                                           | CUSIP: 74334BAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355000 | PA      | $327003.85    | 0.20%             | 2042-07-17      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru              | Provident Funding Mortgage Trust 2021-INV1                                     | CUSIP: 74387VAZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    589784 | PA      | $495513.80    | 0.30%             | 2051-08-25      | Variable      | 2.78%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2019-B9 Mortgage Trust                                               | CUSIP: 08160JAK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $263383.71    | 0.16%             | 2052-03-15      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DUQT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1185756 | PA      | $1208206.25   | 0.74%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2018-B1 Mortgage Trust                                               | CUSIP: 08162PBB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    374000 | PA      | $306347.89    | 0.19%             | 2051-01-15      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer              | WaMu Mortgage Pass-Through Certificates Series 2004-AR12 Trust                 | CUSIP: 92922FZV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     51265 | PA      | $50698.14     | 0.03%             | 2044-10-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382CDW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    116530 | PA      | $489.91       | 0.00%             | 2050-01-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                  | LAD Auto Receivables Trust 2024-1                                              | CUSIP: 501689AG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102985.85    | 0.06%             | 2031-06-16      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140W2QC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    843104 | PA      | $748894.23    | 0.46%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384A3B7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    682676 | PA      | $102626.74    | 0.06%             | 2050-09-20      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383GSL6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    229948 | PA      | $193132.68    | 0.12%             | 2052-01-20      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38381JBN6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    180000 | PA      | $134344.42    | 0.08%             | 2065-04-16      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-HQA4                                        | CUSIP: 35564KNS4<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |    120000 | PA      | $121537.20    | 0.07%             | 2041-12-25      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                | AGL CLO 17 Ltd                                                                 | CUSIP: 00120DAL0<br>LEI: 254900ISUA07JPVCOS18 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $400088.40    | 0.25%             | 2035-01-21      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BFES8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    895946 | PA      | $191586.51    | 0.12%             | 2051-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                  | LAD Auto Receivables Trust 2025-2                                              | CUSIP: 505912AH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    380000 | PA      | $381780.64    | 0.23%             | 2032-12-15      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Kinetic ABS Issuer LLC                      | Kinetic ABS Issuer LLC                                                         | CUSIP: 49459AAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    395000 | PA      | $395246.88    | 0.24%             | 2056-02-25      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2015-GC30                                         | CUSIP: 36250GAX3<br>LEI: 549300L45M7638EL0H21 | Long             | ABS-MBS          | CORP              | US        |   1075000 | PA      | $599312.50    | 0.37%             | 2050-05-10      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu              | JPMDB Commercial Mortgage Securities Trust 2017-C7                             | CUSIP: 46648KAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $77148.58     | 0.05%             | 2050-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2020-B16 Mortgage Trust                                              | CUSIP: 08161NAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    545000 | PA      | $414400.34    | 0.25%             | 2053-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                   | CIM Trust 2021-J2                                                              | CUSIP: 12564ECM2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1516229 | PA      | $18833.08     | 0.01%             | 2051-04-25      | Variable      | 0.21%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                 | Hertz Vehicle Financing III LLC                                                | CUSIP: 42806MDT3<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    515000 | PA      | $525719.52    | 0.32%             | 2032-05-25      | Fixed         | 8.30%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus              | CSAIL 2015-C1 Commercial Mortgage Trust                                        | CUSIP: 126281BF0<br>LEI: 549300UFJ8EKD81Y8R30 | Long             | ABS-MBS          | CORP              | US        |    293000 | PA      | $266632.93    | 0.16%             | 2050-04-15      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                   | Towd Point Mortgage Trust 2019-1                                               | CUSIP: 89177BAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    815000 | PA      | $637221.52    | 0.39%             | 2058-03-25      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                          | BX Trust 2019-OC11                                                             | CUSIP: 05606FAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $478128.80    | 0.29%             | 2041-12-09      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418FDB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    761258 | PA      | $772176.25    | 0.47%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140JGLW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11812 | PA      | $11752.57     | 0.01%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                             | Zayo Issuer LLC                                                                | CUSIP: 98919WAS2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    470000 | PA      | $492970.22    | 0.30%             | 2055-10-20      | Fixed         | 8.44%                 | No            |                  2 | On Loan: No      |
| Bank                                        | Bank 2019-BNK19                                                                | CUSIP: 06540WBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    715000 | PA      | $528766.17    | 0.32%             | 2061-08-15      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                  | GLS Auto Receivables Issuer Trust 2022-2                                       | CUSIP: 36265NAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $311736.25    | 0.19%             | 2029-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan               | New Residential Mortgage Loan Trust 2024-RPL1                                  | CUSIP: 64832AAB3<br>LEI: 213800YID3SS4UZHT817 | Long             | ABS-MBS          | CORP              | US        |    372000 | PA      | $315808.51    | 0.19%             | 2064-01-25      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| NYT Mortgage Trust                          | BF 2019-NYT Mortgage Trust                                                     | CUSIP: 62954PAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    683500 | PA      | $629872.11    | 0.39%             | 2035-12-15      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust               | UBS Commercial Mortgage Trust 2018-C9                                          | CUSIP: 90291JBA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    165000 | PA      | $141166.23    | 0.09%             | 2051-03-15      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XQAF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3293061 | PA      | $2680012.75   | 1.65%             | 2052-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 3140XQDL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    520032 | PA      | $533339.92    | 0.33%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DWHE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    507786 | PA      | $509538.97    | 0.31%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer II, LLC                     | DataBank Issuer II LLC                                                         | CUSIP: 23802YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    160000 | PA      | $157393.42    | 0.10%             | 2055-09-27      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Residential Accredit Loans, In              | RALI Series 2005-QO3 Trust                                                     | CUSIP: 761118KU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     87175 | PA      | $60348.90     | 0.04%             | 2045-10-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu              | JPMDB Commercial Mortgage Securities Trust 2017-C5                             | CUSIP: 46590TAK1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $125648.37    | 0.08%             | 2050-03-15      | Variable      | 4.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384KHH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    771471 | PA      | $130041.06    | 0.08%             | 2051-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit               | Freddie Mac Mscr Trust Mn8                                                     | CUSIP: 35563RAB1<br>LEI: 529900XKEN78GROIG538 | Long             | ABS-MBS          | USGSE             | US        |    430000 | PA      | $447969.14    | 0.27%             | 2044-05-25      | Floating      | 7.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                | CUSIP: 31418EPC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1383695 | PA      | $1388967.47   | 0.85%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HHAB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2302337 | PA      | $82921.21     | 0.05%             | 2054-08-25      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| DREYFUS TRSY OBLIG CASH M                   | DREYFUS TRSY OBLIG CASH M                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    943577 | NS      | $943576.68    | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Structured Asset Investment Lo              | Structured Asset Investment Loan Trust 2004-8                                  | CUSIP: 86358ELQ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     98597 | PA      | $96503.93     | 0.06%             | 2034-09-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust               | UBS Commercial Mortgage Trust 2018-C9                                          | CUSIP: 90291JBB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    405000 | PA      | $277563.27    | 0.17%             | 2051-03-15      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAYG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     85956 | PA      | $69443.26     | 0.04%             | 2053-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BVKJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    446989 | PA      | $31177.68     | 0.02%             | 2054-09-25      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383CFR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4549935 | PA      | $44085.23     | 0.03%             | 2051-10-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                               | CUSIP: 91282CPF2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2250000 | PA      | $2215019.52   | 1.36%             | 2032-10-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2026-J1 Trust                                                              | CUSIP: 67123TAU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385000 | PA      | $384961.50    | 0.24%             | 2056-02-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383P8S3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    129554 | PA      | $2396.15      | 0.00%             | 2052-04-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2026-R1                                             | CUSIP: 924932AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $400397.96    | 0.25%             | 2067-10-25      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit               | Freddie Mac Mscr Trust Mn12                                                    | CUSIP: 355913AC8<br>LEI: 529900KABSM46L5D1T20 | Long             | ABS-MBS          | USGSE             | US        |    410000 | PA      | $416887.47    | 0.26%             | 2045-11-25      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2020-B17 Mortgage Trust                                              | CUSIP: 08162MBD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    910000 | PA      | $689996.67    | 0.42%             | 2053-03-15      | Variable      | 3.37%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                            | Freddie Mac Strips                                                             | CUSIP: 3128HVP78<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31509 | PA      | $28151.23     | 0.02%             | 2036-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                              | CUSIP: 3136BBB43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7711 | PA      | $6123.28      | 0.00%             | 2050-09-25      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                     | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    438238 | PA      | $267716.95    | 0.16%             | 2061-03-15      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                  | BFLD Commercial Mortgage Trust 2025-5MW                                        | CUSIP: 088921AD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    575000 | PA      | $588515.01    | 0.36%             | 2042-10-10      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383GFG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1045723 | PA      | $125686.72    | 0.08%             | 2051-11-20      | Fixed         | 2.00%                 | 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        |    550000 | PA      | $516816.25    | 0.32%             | 2055-02-17      | Variable      | 3.27%                 | 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        |   1398860 | PA      | $1217437.83   | 0.75%             | 2064-11-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus              | Carmax Select Receivables Trust 2024-A                                         | CUSIP: 14319FAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    365000 | PA      | $376146.04    | 0.23%             | 2030-12-16      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38384BPQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1886080 | PA      | $83731.38     | 0.05%             | 2053-06-20      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                             | CUSIP: 3137HAFC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    415516 | PA      | $281236.17    | 0.17%             | 2050-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383FAC7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  18143331 | PA      | $15650.44     | 0.01%             | 2051-12-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38383U6A3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    303244 | PA      | $42321.34     | 0.03%             | 2045-10-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                       | CUSIP: 38382NZZ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    180832 | PA      | $20084.21     | 0.01%             | 2051-02-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                               | CUSIP: 3132DQXV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     36602 | PA      | $37570.07     | 0.02%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UBS-Barclays Commercial Mortga              | UBS-Barclays Commercial Mortgage Trust 2013-C5                                 | CUSIP: 90270YAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490061 | PA      | $479280.06    | 0.29%             | 2046-03-10      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-25

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

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

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