# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-25-003866
**Filing Date:** 2025-12
**Character Count:** 100380
**Document Hash:** 691ec652e46f89971b2ca1fcb8f56864
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-003866.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0002048251-25-003866

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund III
- **CENTRAL INDEX KEY:** 0001593547

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22920
- **FILM NUMBER:** 251610506

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** (800) 342-5734

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### Knights of Columbus Limited Duration Fund (Series ID: S000048263)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000152510 | I Shares       | KCLIX           |
| C000158706 | Class S Shares | KCLSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ADVISORS' INNER CIRCLE III

- **b. Investment Company Act file number:** 811-22920

- **c. CIK number of Registrant:** 0001593547

- **d. LEI of Registrant:** 549300TG800HOPJVWT31

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

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

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

- **a. Name of Series:** Knights of Columbus Limited Duration Bond Fund

- **b. EDGAR series identifier (if any):** S000048263

- **c. LEI of Series:** 5493008XUKTF2Q48C538

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $236680785.80

**Total Liabilities:** $1279533.10

**Net Assets:** $235401252.70

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -507.86340984 | **1-Year:** -17179.82193927 | **5-Year:** -10508.51126332 | **10-Year:** -413.87263716 | **30-Year:** -2.57871710

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

- **3-Month:** -203.95948611 | **1-Year:** -3402.67869386 | **5-Year:** -5306.50524823 | **10-Year:** -1218.32523247 | **30-Year:** -519.68003889

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000158706 | 0.21%                | 0.32%                | 0.92%                |
| Class ID C000152510 | 0.20%                | 0.44%                | 0.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $59932.55                | $-391056.20                                |
| Month 2  | $56687.14                | $-28107.99                                 |
| Month 3  | $57728.26                | $1086046.41                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TOLL BROTHERS FINANCE CORP.                             | TOLL BROTHERS FINANCE CORP 4.350000% 02/15/2028                     | CUSIP: 88947EAT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    985000 | PA      | $987956.36    | 0.42%             | 2028-02-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST                  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2025-2 SDART 2025-2 B        | CUSIP: 80287NAD7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    535000 | PA      | $538399.76    | 0.23%             | 2031-05-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| FORD CREDIT AUTO OWNER TRUST                            | FORD CREDIT AUTO OWNER TRUST 2023-B FORDO 2023-B B                  | CUSIP: 344930AF9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1050000 | PA      | $1066439.54   | 0.45%             | 2029-03-15      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| TWIN BROOK CLO LLC                                      | TWIN BROOK CLO 2024-1 LLC TWBRK 2024-1A A                           | CUSIP: 901397AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    750000 | PA      | $750120.75    | 0.32%             | 2036-07-20      | Floating      | 5.78%                 | Yes           |                  2 | On Loan: No      |
| AUDAX SENIOR DEBT CLO                                   | AUDAX SENIOR DEBT CLO 12 LLC AUDAX 2025-12A B                       | CUSIP: 05071UAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $741135.75    | 0.31%             | 2037-04-22      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION         | WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP 4.700000% 09/15/2028       | CUSIP: 960386AM2<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012174.03   | 0.43%             | 2028-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC.                                     | ALLY FINANCIAL INC 2.200000% 11/02/2028                             | CUSIP: 02005NBP4<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1097207.39   | 0.47%             | 2028-11-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                      | ENERGY TRANSFER LP 6.625000% MATURITY: PERPETUAL                    | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1153223.73   | 0.49%             | 2174-02-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HOLDINGS CORPORATION                       | SCHLUMBERGER HOLDINGS CORP 144A 5.000000% 05/29/2027                | CUSIP: 806851AL5<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |    980000 | PA      | $992484.94    | 0.42%             | 2027-05-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| nVent Finance S.a r.l.                                  | NVENT FINANCE SARL 4.550000% 04/15/2028                             | CUSIP: 67078AAD5<br>LEI: 549300KO1OQ4MVFB6X02 | Long             | DBT              | NUSS              | GB        |   1055000 | PA      | $1057742.47   | 0.45%             | 2028-04-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| United States of America                                | US TREASURY N/B 3.875000% 12/31/2027                                | CUSIP: 91282CGC9<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  12105000 | PA      | $12174982.03  | 5.17%             | 2027-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                   | DOMINION ENERGY INC 4.600000% 05/15/2028                            | CUSIP: 25746UDY2<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    980000 | PA      | $990614.14    | 0.42%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| United States of America                                | US TREASURY N/B 4.375000% 11/30/2028                                | CUSIP: 91282CJN2<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  17582800 | PA      | $17968110.53  | 7.63%             | 2028-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HELMERICH & PAYNE, INC.                                 | HELMERICH & PAYNE INC 4.650000% 12/01/2027                          | CUSIP: 423452AL5<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | DBT              | CORP              | US        |    950000 | PA      | $954198.06    | 0.41%             | 2027-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                | GINNIE MAE I POOL GN 686911                                         | CUSIP: 36296CDQ0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |       635 | PA      | $655.53       | 0.00%             | 2038-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                   | FANNIE MAE POOL FN 257262                                           | CUSIP: 31371NWX9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |       883 | PA      | $916.47       | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AGREE LIMITED PARTNERSHIP                               | AGREE LP 2.000000% 06/15/2028                                       | CUSIP: 008513AB9<br>LEI: 549300DXY3G299V1BO77 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1023531.28   | 0.43%             | 2028-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| OCCU AUTO RECEIVABLES TRUST                             | OCCU AUTO RECEIVABLES TRUST 2025-1 OCCU 2025-1A A4                  | CUSIP: 67098SAD2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    550000 | PA      | $553922.16    | 0.24%             | 2031-01-15      | Fixed         | 4.79%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                | GINNIE MAE I POOL GN 604647                                         | CUSIP: 36200MWG4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |      3122 | PA      | $3199.41      | 0.00%             | 2033-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OWN EQUIPMENT FUND                                      | OWN EQUIPMENT FUND I LLC EQS 2024-2M A                              | CUSIP: 69121NAA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    382115 | PA      | $380309.20    | 0.16%             | 2032-12-20      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| GENERAL MOTORS FINANCIAL COMPANY, INC.                  | GENERAL MOTORS FINANCIAL CO INC 4.200000% 10/27/2028                | CUSIP: 37045XFL5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    170000 | PA      | $169586.69    | 0.07%             | 2028-10-27      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                          | MORGAN STANLEY MTN 3.950000% 04/23/2027                             | CUSIP: 61761JZN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    975000 | PA      | $972684.73    | 0.41%             | 2027-04-23      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INCORPORATED                       | MICROCHIP TECHNOLOGY INC 4.900000% 03/15/2028                       | CUSIP: 595017BK9<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    900000 | PA      | $911158.78    | 0.39%             | 2028-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORPORATION                            | BLUE OWL CAPITAL CORP 2.875000% 06/11/2028                          | CUSIP: 69121KAG9<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1114274.31   | 0.47%             | 2028-06-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CREDIT FUND                          | BLACKSTONE PRIVATE CREDIT FUND 3.250000% 03/15/2027                 | CUSIP: 09261HAK3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   1039000 | PA      | $1019451.73   | 0.43%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE, LLC                             | ALLIANT ENERGY FINANCE LLC 144A 5.400000% 06/06/2027                | CUSIP: 01882YAF3<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |    955000 | PA      | $967271.69    | 0.41%             | 2027-06-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NELNET STUDENT LOAN CORPORATION                         | NELNET STUDENT LOAN TRUST 2014-2 NSLT 2014-2A A3                    | CUSIP: 64033LAC4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    645844 | PA      | $647868.57    | 0.28%             | 2037-07-27      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL, INC.                                      | BERRY GLOBAL INC 5.500000% 04/15/2028                               | CUSIP: 08576PAL5<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    910000 | PA      | $935953.04    | 0.40%             | 2028-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                | GINNIE MAE I POOL GN 617705                                         | CUSIP: 36290UGN0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |      1344 | PA      | $1417.19      | 0.00%             | 2037-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AFFIRM ASSET SECURITIZATION TRUST                       | AFFIRM ASSET SECURITIZATION TRUST 2024-X2 AFFRM 2024-X2 B           | CUSIP: 00833QAB1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    560000 | PA      | $560960.62    | 0.24%             | 2029-12-17      | Fixed         | 5.33%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST                            | PAGAYA AI DEBT GRANTOR TRUST 2024-11 PAID 2024-11 B                 | CUSIP: 69544AAB1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    371456 | PA      | $373930.94    | 0.16%             | 2032-07-15      | Fixed         | 5.64%                 | Yes           |                  2 | On Loan: No      |
| TCW CLO LTD                                             | TCW CLO 2019-2 LTD TCW 2019-2A A1R2                                 | CUSIP: 87242BBG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1270000 | PA      | $1270284.48   | 0.54%             | 2038-01-20      | Floating      | 5.15%                 | Yes           |                  2 | On Loan: No      |
| AMPHENOL CORPORATION                                    | AMPHENOL CORP 4.375000% 06/12/2028                                  | CUSIP: 032095AT8<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1018454.86   | 0.43%             | 2028-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DRIVE AUTO RECEIVABLES TRUST                            | DRIVE AUTO RECEIVABLES TRUST 2025-2 DRIVE 2025-2 B                  | CUSIP: 262103AE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    570000 | PA      | $567922.98    | 0.24%             | 2032-09-15      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                           | OWENS CORNING 5.500000% 06/15/2027                                  | CUSIP: 690742AN1<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    985000 | PA      | $1004922.52   | 0.43%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORPORATION                                 | NTT FINANCE CORP 144A 4.620000% 07/16/2028                          | CUSIP: 62954WAQ8<br>LEI: 3538007PR116187GD960 | Long             | DBT              | NUSS              | JP        |   1160000 | PA      | $1172834.01   | 0.50%             | 2028-07-16      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Spirit Airlines Pass Through Trusts                     | SPIRIT AIRLINES PASS THROUGH TRUST 2015-1A 4.100000% 04/01/2028     | CUSIP: 84858DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890811 | PA      | $845968.18    | 0.36%             | 2028-04-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                | GINNIE MAE I POOL GN 586974                                         | CUSIP: 36201MCK6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |       332 | PA      | $347.83       | 0.00%             | 2032-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC GOLD POOL FG A84454                                     | CUSIP: 3129305P1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |      2098 | PA      | $2060.46      | 0.00%             | 2039-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARS, INCORPORATED                                      | MARS INC 144A 4.600000% 03/01/2028                                  | CUSIP: 571676AX3<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    970000 | PA      | $981421.91    | 0.42%             | 2028-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| 7-ELEVEN, INC.                                          | 7-ELEVEN INC 144A 1.300000% 02/10/2028                              | CUSIP: 817826AD2<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1143199.49   | 0.49%             | 2028-02-10      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                 | MPLX LP 4.250000% 12/01/2027                                        | CUSIP: 55336VBN9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    980000 | PA      | $981553.65    | 0.42%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TANGER PROPERTIES LIMITED PARTNERSHIP                   | TANGER PROPERTIES LP 3.875000% 07/15/2027                           | CUSIP: 875484AK3<br>LEI: PQPGJDNFN35EXH363L31 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1002539.98   | 0.43%             | 2027-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                                       | STORE CAPITAL LLC 4.500000% 03/15/2028                              | CUSIP: 862121AA8<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1900839.42   | 0.81%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GRACIE POINT INTERNATIONAL FUNDING                      | GRACIE POINT INTERNATIONAL FUNDING 2025-1 LLC GPIF 2025-1A A        | CUSIP: 38411WAA0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1000000 | PA      | $999556.30    | 0.42%             | 2028-08-15      | Floating      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| SLM STUDENT LOAN TRUST                                  | SLM STUDENT LOAN TRUST 2006-10 SLMA 2006-10 A6                      | CUSIP: 78443BAG1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    835104 | PA      | $816304.40    | 0.35%             | 2044-03-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| BANQUE CANADIENNE IMPERIALE DE COMMERCE                 | CANADIAN IMPERIAL BANK OF COMMERCE 4.857000% 03/30/2029             | CUSIP: 13607PH98<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | NUSS              | CA        |    945000 | PA      | $959384.67    | 0.41%             | 2029-03-30      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| BARINGS PRIVATE CREDIT CORP CLO LTD                     | BARINGS PRIVATE CREDIT CORP CLO 2023-1 LTD BPCC 2023-1A A1BR        | CUSIP: 067930AN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |    995000 | PA      | $985737.55    | 0.42%             | 2036-10-15      | Floating      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP MORTGAGE LOAN TRUST INC                       | CITIGROUP MORTGAGE LOAN TRUST 2024-1 CMLTI 2024-1 A7A               | CUSIP: 17332CBP0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    360350 | PA      | $364716.63    | 0.15%             | 2054-07-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-212 HP            | CUSIP: 38383LWR7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2073295 | PA      | $2068201.92   | 0.88%             | 2043-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARMAX AUTO OWNER TRUST                                 | CARMAX AUTO OWNER TRUST 2025-1 CARMX 2025-1 B                       | CUSIP: 14319WAF3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    490000 | PA      | $499650.65    | 0.21%             | 2030-09-16      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| BX TRUST                                                | BX TRUST 2025-LUNR BX 2025-LUNR B                                   | CUSIP: 05594CAD6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    496904 | PA      | $497835.90    | 0.21%             | 2040-06-15      | Floating      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| EOG RESOURCES, INC.                                     | EOG RESOURCES INC 4.400000% 07/15/2028                              | CUSIP: 26875PAX9<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1020201.86   | 0.43%             | 2028-07-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                   | FANNIE MAE POOL FN 886371                                           | CUSIP: 31410DW89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |       228 | PA      | $243.54       | 0.00%             | 2036-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC GOLD POOL FG A68579                                     | CUSIP: 3128L0Q88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |       915 | PA      | $960.57       | 0.00%             | 2037-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TELEDYNE TECHNOLOGIES INCORPORATED                      | TELEDYNE TECHNOLOGIES INC 2.250000% 04/01/2028                      | CUSIP: 879360AD7<br>LEI: 549300VSMO9KYQWDND94 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $971544.65    | 0.41%             | 2028-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                   | FANNIE MAE POOL FN 867437                                           | CUSIP: 31409CV69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |       197 | PA      | $209.08       | 0.00%             | 2036-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FINANCE (USA) PLC                             | RIO TINTO FINANCE USA PLC 4.500000% 03/14/2028                      | CUSIP: 76720AAR7<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | NUSS              | AU        |    965000 | PA      | $975982.10    | 0.41%             | 2028-03-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER COMPANY                                   | GEORGIA POWER CO 5.004000% 02/23/2027                               | CUSIP: 373334KV2<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    960000 | PA      | $973144.58    | 0.41%             | 2027-02-23      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT SELECTION TRUST                          | PAGAYA AI DEBT TRUST 2024-2 PAID 2024-2 A                           | CUSIP: 694961AA1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    230533 | PA      | $231791.94    | 0.10%             | 2031-08-15      | Fixed         | 6.32%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                                | AMERICAN EXPRESS CO 4.351000% 07/20/2029                            | CUSIP: 025816EJ4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1071468.64   | 0.46%             | 2029-07-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL, INC.                             | EVERGY KANSAS CENTRAL INC 4.700000% 03/13/2028                      | CUSIP: 30036FAE1<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |    945000 | PA      | $953322.46    | 0.40%             | 2028-03-13      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FUND                              | HPS CORPORATE LENDING FUND 5.450000% 01/14/2028                     | CUSIP: 40440VAH8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    890000 | PA      | $896838.88    | 0.38%             | 2028-01-14      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STREET CLO LIMITED PARTNERSHIP               | CALIFORNIA STREET CLO IX LP SYMP 2012-9A AR3                        | CUSIP: 13079WDC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    398624 | PA      | $398850.84    | 0.17%             | 2032-07-16      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| EXETER SELECT AUTOMOBILE RECEIVABLES TRUST              | EXETER SELECT AUTOMOBILE RECEIVABLES TRUST 2025-1 ESART 2025-1 A3   | CUSIP: 30185AAC5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    440000 | PA      | $443189.34    | 0.19%             | 2030-04-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Amcor Flexibles North America, Inc                      | AMCOR FLEXIBLES NORTH AMERICA INC 3.100000% 09/15/2026              | CUSIP: 081437AS4<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1072558.39   | 0.46%             | 2026-09-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Siemens Funding B.V.                                    | SIEMENS FUNDING BV 144A 4.350000% 05/26/2028                        | CUSIP: 82622RAA4<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | NUSS              | DE        |   1510000 | PA      | $1524791.72   | 0.65%             | 2028-05-26      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| HALSEYPOINT CLO                                         | HALSEYPOINT CLO 3 LTD HLSY 2020-3A A1R                              | CUSIP: 40638UAS8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $952377.85    | 0.40%             | 2037-07-30      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| DLLMT LLC                                               | DLLMT 2023-1 LLC DLLMT 2023-1A A4                                   | CUSIP: 232989AD5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    680000 | PA      | $686592.06    | 0.29%             | 2031-03-20      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| THE CAMPBELL'S COMPANY                                  | CAMPBELL'S COMPANY/THE 4.150000% 03/15/2028                         | CUSIP: 134429BG3<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998799.63    | 0.42%             | 2028-03-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Santander Holdings USA, Inc.                            | SANTANDER HOLDINGS USA INC 5.473000% 03/20/2029                     | CUSIP: 80282KBN5<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    950000 | PA      | $966351.15    | 0.41%             | 2029-03-20      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERATING, LP                         | WESTERN MIDSTREAM OPERATING LP 4.500000% 03/01/2028                 | CUSIP: 958254AH7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    985000 | PA      | $986902.38    | 0.42%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATIONS LP                            | HESS MIDSTREAM OPERATIONS LP 144A 5.125000% 06/15/2028              | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1097522.58   | 0.47%             | 2028-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS COMPANY.                                | SONOCO PRODUCTS CO 2.250000% 02/01/2027                             | CUSIP: 835495AN2<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |    965000 | PA      | $940672.54    | 0.40%             | 2027-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORPORATION                         | MAIN STREET CAPITAL CORP 6.500000% 06/04/2027                       | CUSIP: 56035LAJ3<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    925000 | PA      | $943128.70    | 0.40%             | 2027-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORPORATION.                               | ARES CAPITAL CORP 2.875000% 06/15/2028                              | CUSIP: 04010LBB8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1071180.74   | 0.46%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| VOLOFIN FINANCE (IRELAND) DESIGNATED ACTIVITY COMPANY   | VOLOFIN FINANCE DESIGNATED ACTIVITY CO VFIN 2024-1A A               | CUSIP: 92873RAA9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    315520 | PA      | $321394.83    | 0.14%             | 2037-06-15      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATIONS LP                            | HESS MIDSTREAM OPERATIONS LP 144A 5.500000% 10/15/2030              | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $20131.54     | 0.01%             | 2030-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                | US TREASURY N/B 3.875000% 06/15/2028                                | CUSIP: 91282CNH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  12243000 | PA      | $12329561.81  | 5.24%             | 2028-06-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                | GINNIE MAE I POOL GN 592038                                         | CUSIP: 36201SV71<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |       600 | PA      | $613.83       | 0.00%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AFFIRM MASTER TRUST                                     | AFFIRM MASTER TRUST AFRMT 2025-1A B                                 | CUSIP: 00833BAB4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    940000 | PA      | $942194.24    | 0.40%             | 2033-02-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| AVIS BUDGET RENTAL CAR FUNDING                          | AVIS BUDGET RENTAL CAR FUNDING AESOP LLC AESOP 2023-5A B            | CUSIP: 05377RHD9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    350000 | PA      | $356541.78    | 0.15%             | 2028-04-20      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST                                  | SEQUOIA MORTGAGE TRUST 2013-4 SEMT 2013-4 B3                        | CUSIP: 81744YAH9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     48387 | PA      | $46820.32     | 0.02%             | 2043-04-25      | Floating      | 3.43%                 | No            |                  2 | On Loan: No      |
| TRINITY RAIL LEASING LLC                                | TRINITY RAIL LEASING 2021 LLC TRL 2021-1A B                         | CUSIP: 89656GAB0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    575000 | PA      | $540174.55    | 0.23%             | 2051-07-19      | Fixed         | 3.08%                 | Yes           |                  2 | On Loan: No      |
| ICON INVESTMENTS SIX DESIGNATED ACTIVITY COMPANY        | ICON INVESTMENTS SIX DAC 5.809000% 05/08/2027                       | CUSIP: 45115AAA2<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | NUSS              | US        |   1001000 | PA      | $1021713.16   | 0.43%             | 2027-05-08      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST                       | CHASE HOME LENDING MORTGAGE TRUST SERIES 2024-5 CHASE 2024-5 A6     | CUSIP: 16159QAK3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    544593 | PA      | $550453.90    | 0.23%             | 2055-04-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN TOWER CORPORATION                              | AMERICAN TOWER CORP 5.250000% 07/15/2028                            | CUSIP: 03027XCC2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    970000 | PA      | $996018.63    | 0.42%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNANTPARK CLO LTD                                     | PENNANTPARK CLO 12 LLC PNTPK 2025-12A B                             | CUSIP: 70807EAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    625000 | PA      | $624358.13    | 0.27%             | 2037-04-20      | Floating      | 5.73%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                         | HERTZ VEHICLE FINANCING LLC HERTZ 2022-5A B                         | CUSIP: 42806MBL2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    375000 | PA      | $370415.70    | 0.16%             | 2028-09-25      | Fixed         | 4.28%                 | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS, INC.                   | NEXTERA ENERGY CAPITAL HOLDINGS INC 1.875000% 01/15/2027            | CUSIP: 65339KBY5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $984501.48    | 0.42%             | 2027-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Eversource Energy                                       | EVERSOURCE ENERGY 5.450000% 03/01/2028                              | CUSIP: 30040WAT5<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    975000 | PA      | $999893.49    | 0.42%             | 2028-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| GUGGENHEIM MM CLO LTD.                                  | GUGGENHEIM MM CLO 2021-3 LTD GCF 2021-3A A                          | CUSIP: 40170UAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    365000 | PA      | $364762.39    | 0.15%             | 2034-01-21      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC GOLD POOL FG A24180                                     | CUSIP: 31297BUD2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |       562 | PA      | $575.75       | 0.00%             | 2034-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORPORATION                        | OCCIDENTAL PETROLEUM CORP 3.200000% 08/15/2026                      | CUSIP: 674599CR4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1071387.70   | 0.46%             | 2026-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HIGHER EDUCATION LOAN CORPORATION         | GRANITE EDVANCE CORP NHHEL 2020-1 A1A                               | CUSIP: 644622AB8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    914362 | PA      | $842006.17    | 0.36%             | 2060-09-25      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| FREMF MORTGAGE TRUST                                    | FREMF 2020-K737 MORTGAGE TRUST FREMF 2020-K737 C                    | CUSIP: 30300SAU6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    525000 | PA      | $515989.95    | 0.22%             | 2053-01-25      | Floating      | 3.33%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM LLC                          | SOFI CONSUMER LOAN PROGRAM 2025-3 TRUST SCLP 2025-3 B               | CUSIP: 83390JAB8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    550000 | PA      | $550283.20    | 0.23%             | 2034-08-15      | Fixed         | 4.67%                 | Yes           |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                             | BANK OF AMERICA CORP MTN 4.183000% 11/25/2027                       | CUSIP: 06051GGC7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    975000 | PA      | $975566.49    | 0.41%             | 2027-11-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| EMERA INCORPORATED                                      | EMERA INC 6.750000% 06/15/2076                                      | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | NUSS              | CA        |   1145000 | PA      | $1150458.22   | 0.49%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MISSION LANE CREDIT CARD MASTER TRUST                   | MISSION LANE CREDIT CARD MASTER TRUST MLANE 2025-B A                | CUSIP: 60510MBU1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    530000 | PA      | $532676.98    | 0.23%             | 2031-09-15      | Fixed         | 5.06%                 | Yes           |                  2 | On Loan: No      |
| BROWN & BROWN, INC.                                     | BROWN & BROWN INC 4.700000% 06/23/2028                              | CUSIP: 115236AJ0<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    385000 | PA      | $388404.17    | 0.16%             | 2028-06-23      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| TRINITY RAIL LEASING LLC                                | TRINITY RAIL LEASING 2020 LLC TRL 2020-2A A2                        | CUSIP: 89656YAB1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    500000 | PA      | $478566.75    | 0.20%             | 2050-11-19      | Fixed         | 2.56%                 | Yes           |                  2 | On Loan: No      |
| AFFIRM ASSET SECURITIZATION TRUST                       | AFFIRM ASSET SECURITIZATION TRUST 2025-X1 AFFRM 2025-X1 B           | CUSIP: 00834MAB9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    500000 | PA      | $501395.35    | 0.21%             | 2030-04-15      | Fixed         | 5.19%                 | Yes           |                  2 | On Loan: No      |
| COLT MORTGAGE LOAN TRUST                                | COLT 2021-2R MORTGAGE LOAN TRUST COLT 2021-2R A2                    | CUSIP: 12656YAB3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |     84675 | PA      | $77096.98     | 0.03%             | 2054-07-27      | Fixed         | 1.11%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC.                                          | CITIGROUP INC 4.125000% 07/25/2028                                  | CUSIP: 172967KU4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    905000 | PA      | $903972.49    | 0.38%             | 2028-07-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FMC CORPORATION                                         | FMC CORP 3.200000% 10/01/2026                                       | CUSIP: 302491AT2<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |   1027000 | PA      | $1010833.38   | 0.43%             | 2026-10-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| United States of America                                | US TREASURY N/B 4.625000% 11/15/2026                                | CUSIP: 91282CJK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |   1715300 | PA      | $1730460.28   | 0.74%             | 2026-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Highwoods Realty Limited Partnership                    | HIGHWOODS REALTY LP 4.125000% 03/15/2028                            | CUSIP: 431282AQ5<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1017460.11   | 0.43%             | 2028-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET SPECIALTY LENDING, INC.                    | SIXTH STREET SPECIALTY LENDING INC 6.950000% 08/14/2028             | CUSIP: 83012AAB5<br>LEI: 549300TX61566GJWCN05 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1091652.98   | 0.46%             | 2028-08-14      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES, INC.                                   | UNITED AIRLINES INC 144A 4.375000% 04/15/2026                       | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1062800.78   | 0.45%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS TRUST                            | HILTON GRAND VACATIONS TRUST 2025-2 HGVT 2025-2A A                  | CUSIP: 43285JAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    487938 | PA      | $489217.06    | 0.21%             | 2044-05-25      | Fixed         | 4.54%                 | Yes           |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO.                                  | SOUTHWEST AIRLINES CO 4.375000% 11/15/2028                          | CUSIP: 844741BL1<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1147307.88   | 0.49%             | 2028-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS COMPANY LLC                           | VISTRA OPERATIONS CO LLC 144A 4.300000% 10/15/2028                  | CUSIP: 92840VAX0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1130719.57   | 0.48%             | 2028-10-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| THE TOLEDO EDISON COMPANY                               | TOLEDO EDISON CO/THE 144A 2.650000% 05/01/2028                      | CUSIP: 889175BF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    386000 | PA      | $366424.28    | 0.16%             | 2028-05-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS, INC.                                  | KYNDRYL HOLDINGS INC 2.050000% 10/15/2026                           | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |   1093000 | PA      | $1069844.66   | 0.45%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| GBX LEASING LLC                                         | GBX LEASING 2022-1 LLC GBXL 2022-1 A                                | CUSIP: 361528AA0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    732009 | PA      | $691596.33    | 0.29%             | 2052-02-20      | Fixed         | 2.87%                 | Yes           |                  2 | On Loan: No      |
| Nutrien Ltd.                                            | NUTRIEN LTD 5.200000% 06/21/2027                                    | CUSIP: 67077MBC1<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | NUSS              | CA        |    935000 | PA      | $950180.87    | 0.40%             | 2027-06-21      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| OWN EQUIPMENT FUND                                      | OWN EQUIPMENT FUND II LLC EQS 2025-1M B                             | CUSIP: 690912AB6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    986866 | PA      | $937538.72    | 0.40%             | 2033-09-26      | Fixed         | 6.31%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST                              | VERUS SECURITIZATION TRUST 2021-1 VERUS 2021-1 A2                   | CUSIP: 92537QAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    117604 | PA      | $106185.86    | 0.05%             | 2066-01-25      | Floating      | 1.05%                 | Yes           |                  2 | On Loan: No      |
| DELL INTERNATIONAL L.L.C.                               | DELL INTERNATIONAL LLC / EMC CORP 4.750000% 04/01/2028              | CUSIP: 24703TAL0<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    945000 | PA      | $958310.67    | 0.41%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS, INC.                                    | CONAGRA BRANDS INC 1.375000% 11/01/2027                             | CUSIP: 205887CF7<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   1088000 | PA      | $1027309.56   | 0.44%             | 2027-11-01      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| HPEFS EQUIPMENT TRUST                                   | HPEFS EQUIPMENT TRUST 2025-1 HPEFS 2025-1A B                        | CUSIP: 40446EAD9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1055000 | PA      | $1060529.57   | 0.45%             | 2032-09-20      | Fixed         | 4.51%                 | Yes           |                  2 | On Loan: No      |
| PK ALIFT LOAN FUNDING LP                                | PK ALIFT LOAN FUNDING 7 LP PKAIR 2025-2 A                           | CUSIP: 69291NAA0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    500000 | PA      | $500920.45    | 0.21%             | 2043-03-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| VENTURE CLO LIMITED                                     | VENTURE 38 CLO LTD VENTR 2019-38A ARR                               | CUSIP: 92332NBC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    708861 | PA      | $708845.08    | 0.30%             | 2032-07-30      | Floating      | 4.84%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                     | BROWN BROTHERS HARRIMAN SWEEP INTEREST                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   1855581 | PA      | $1855580.61   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| HERCULES CAPITAL, INC.                                  | HERCULES CAPITAL INC 2.625000% 09/16/2026                           | CUSIP: 427096AH5<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1070130.62   | 0.45%             | 2026-09-16      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| VORNADO REALTY L.P.                                     | VORNADO REALTY LP 2.150000% 06/01/2026                              | CUSIP: 929043AK3<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1055654.97   | 0.45%             | 2026-06-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| GOLDENTREE LOAN MANAGEMENT US CLO LTD                   | GOLDENTREE LOAN MANAGEMENT US CLO 12 LTD GLM 2022-12A AJR           | CUSIP: 38138FAS0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1175000 | PA      | $1176655.58   | 0.50%             | 2037-07-20      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| FLAGSHIP CREDIT AUTO TRUST                              | FLAGSHIP CREDIT AUTO TRUST 2021-3 FCAT 2021-3 C                     | CUSIP: 33846QAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    280398 | PA      | $279275.22    | 0.12%             | 2027-09-15      | Fixed         | 1.46%                 | Yes           |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                        | PARAMOUNT GLOBAL 3.700000% 06/01/2028                               | CUSIP: 124857AX1<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    950000 | PA      | $931560.60    | 0.40%             | 2028-06-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC GOLD POOL FG A57231                                     | CUSIP: 3128KLA80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |       719 | PA      | $742.73       | 0.00%             | 2037-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| THUNDERBOLT AIRCRAFT LEASE LIMITED                      | THUNDERBOLT II AIRCRAFT LEASE LTD TBOLT 2018-A A                    | CUSIP: 886065AA9<br>LEI: N/A                  | Long             | ABS-MBS          |  | KY        |    116109 | PA      | $116041.58    | 0.05%             | 2038-09-15      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC, INC.                                 | GOLUB CAPITAL BDC INC 7.050000% 12/05/2028                          | CUSIP: 38173MAD4<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1049102.64   | 0.45%             | 2028-12-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                   | DOMINION ENERGY INC 4.350000% MATURITY: PERPETUAL                   | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   1185000 | PA      | $1165503.31   | 0.50%             | 2174-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC.                                       | CROWN CASTLE INC 4.800000% 09/01/2028                               | CUSIP: 22822VBB6<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   1095000 | PA      | $1108249.06   | 0.47%             | 2028-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| DELL EQUIPMENT FINANCE TRUST                            | DELL EQUIPMENT FINANCE TRUST 2025-2 DEFT 2025-2 A3                  | CUSIP: 24703VAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    570000 | PA      | $569700.53    | 0.24%             | 2031-03-24      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| INGERSOLL RAND INC.                                     | INGERSOLL RAND INC 5.197000% 06/15/2027                             | CUSIP: 45687VAC0<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |    985000 | PA      | $999659.34    | 0.42%             | 2027-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC REMICS FHR 5036 AB                                      | CUSIP: 3137F6SM0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2237707 | PA      | $2140712.93   | 0.91%             | 2041-05-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                    | GLENCORE FUNDING LLC 144A 5.338000% 04/04/2027                      | CUSIP: 378272BR8<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | AU        |    950000 | PA      | $964306.09    | 0.41%             | 2027-04-04      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| FIDELIS MORTGAGE TRUST                                  | FIDELIS MORTGAGE TRUST 2025-RTL2 FIDL 2025-RTL2 A2                  | CUSIP: 31575JAC2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    850000 | PA      | $855148.88    | 0.36%             | 2040-07-25      | Floating      | 6.06%                 | Yes           |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST                              | J.P. MORGAN MORTGAGE TRUST 2022-4 JPMMT 2022-4 A12                  | CUSIP: 46655GAQ8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    691330 | PA      | $666468.56    | 0.28%             | 2052-10-25      | Floating      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| MCF CLO LLC                                             | MCF CLO VIII LTD MCFCL 2018-1A AR                                   | CUSIP: 55281GAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $948860.95    | 0.40%             | 2036-04-18      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| KESTREL AIRCRAFT FUNDING LTD                            | KESTREL AIRCRAFT FUNDING LTD KSTRL 2018-1A A                        | CUSIP: 49255PAA1<br>LEI: N/A                  | Long             | ABS-MBS          |  | KY        |     82722 | PA      | $82647.30     | 0.04%             | 2038-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST                            | PAGAYA AI DEBT GRANTOR TRUST 2025-3 PAID 2025-3 B                   | CUSIP: 69544TAC8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    399919 | PA      | $406257.66    | 0.17%             | 2032-12-15      | Fixed         | 6.06%                 | Yes           |                  2 | On Loan: No      |
| NMEF FUNDING LLC                                        | NMEF FUNDING 2025-B LLC NMEF 2025-B A2                              | CUSIP: 62919WAB5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    550000 | PA      | $551192.90    | 0.23%             | 2033-01-18      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST                     | GS MORTGAGE-BACKED SECURITIES TRUST 2022-PJ3 GSMBS 2022-PJ3 A7      | CUSIP: 362924AL6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    646909 | PA      | $611791.86    | 0.26%             | 2052-08-25      | Floating      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CERBERUS LOAN FUNDING L.P.                              | CERBERUS LOAN FUNDING XLVII LLC CERB 2024-3A A                      | CUSIP: 156945AA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    785000 | PA      | $784974.10    | 0.33%             | 2036-07-15      | Floating      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS PRIVATE CREDIT CORP.                      | GOLDMAN SACHS PRIVATE CREDIT CORP 144A 5.375000% 01/31/2029         | CUSIP: 38152BAE1<br>LEI: 549300TD27G6372IYJ65 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1131262.82   | 0.48%             | 2029-01-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OPERATING PARTNERSHIP LP               | INVITATION HOMES OPERATING PARTNERSHIP LP 2.300000% 11/15/2028      | CUSIP: 46188BAB8<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1026242.71   | 0.44%             | 2028-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| RATE MORTGAGE TRUST                                     | RATE MORTGAGE TRUST 2024-J4 RATE 2024-J4 A7                         | CUSIP: 75408TAG1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    789868 | PA      | $798951.96    | 0.34%             | 2054-12-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                 | ROYAL BANK OF CANADA MTN 4.498000% 08/06/2029                       | CUSIP: 78017DAK4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | NUSS              | CA        |   1095000 | PA      | $1103648.57   | 0.47%             | 2029-08-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOF VII AL FUNDING TRUST I                              | BOF VII AL FUNDING TRUST I BVABS 2023-CAR3 A2                       | CUSIP: 097093AB4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    395195 | PA      | $401330.44    | 0.17%             | 2032-07-26      | Fixed         | 6.29%                 | Yes           |                  2 | On Loan: No      |
| NXP B.V.                                                | NXP BV / NXP FUNDING LLC / NXP USA INC 4.300000% 08/19/2028         | CUSIP: 62954HBF4<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | NUSS              | NL        |   1000000 | PA      | $1001507.38   | 0.43%             | 2028-08-19      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST                  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2025-1 SDART 2025-1 B        | CUSIP: 80288DAD8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    490000 | PA      | $492980.77    | 0.21%             | 2031-03-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN HERITAGE AUTO RECEIVABLES TRUST                | AMERICAN HERITAGE AUTO RECEIVABLES ISSUER TRUST 20 AHART 2025-1A A3 | CUSIP: 02650VAC4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    560000 | PA      | $561028.83    | 0.24%             | 2030-11-15      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| HLEND CLO                                               | HLEND CLO 2025-3 LLC HLEND 2025-3A B                                | CUSIP: 403961AC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    750000 | PA      | $750957.83    | 0.32%             | 2037-01-20      | Floating      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| CROSSROADS ASSET TRUST                                  | CROSSROADS ASSET TRUST 2025-A XROAD 2025-A A2                       | CUSIP: 22767VAB4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    525000 | PA      | $527668.84    | 0.22%             | 2032-02-20      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| WHITEHORSE PRINCIPAL LENDING CLO LTD                    | WHITEHORSE PRINCIPAL LENDING CLO 2022-1 LTD WHCLO 2022-1A A1R       | CUSIP: 96525MAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $999844.00    | 0.42%             | 2036-10-15      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| NEW MOUNTAIN FINANCE CORPORATION                        | NEW MOUNTAIN FINANCE CORP 6.200000% 10/15/2027                      | CUSIP: 647551AG5<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |    925000 | PA      | $939916.86    | 0.40%             | 2027-10-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                     | SYNCHRONY FINANCIAL 3.700000% 08/04/2026                            | CUSIP: 87165BAL7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1064326.44   | 0.45%             | 2026-08-04      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE FLEET FINANCING LLC                          | ENTERPRISE FLEET FINANCING 2025-3 LLC EFF 2025-3 A3                 | CUSIP: 29375UAC3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1050000 | PA      | $1060321.82   | 0.45%             | 2029-09-20      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| FORD CREDIT AUTO OWNER TRUST                            | FORD CREDIT AUTO OWNER TRUST 2025-B FORDO 2025-B B                  | CUSIP: 34532BAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1140000 | PA      | $1138893.86   | 0.48%             | 2031-07-15      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| Renesas Electronics Corporation                         | RENESAS ELECTRONICS CORP 144A 2.170000% 11/25/2026                  | CUSIP: 75972BAB7<br>LEI: 5299000EPC47VJQOFB81 | Long             | DBT              | NUSS              | JP        |   1000000 | PA      | $976885.36    | 0.41%             | 2026-11-25      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| WINGSPIRE EQUIPMENT FINANCE LLC                         | WINGSPIRE EQUIPMENT FINANCE 2025-1 LLC WEF 2025-1A A2               | CUSIP: 97415CAB4<br>LEI: 254900UTJF59Z6LWFR35 | Long             | ABS-MBS          |  | US        |   1140000 | PA      | $1138923.16   | 0.48%             | 2033-09-20      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| USQ RAIL I LLC                                          | USQ RAIL I LLC STEAM 2021-1A A                                      | CUSIP: 90352WAD6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    269795 | PA      | $255910.41    | 0.11%             | 2051-02-28      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST                            | PAGAYA AI DEBT GRANTOR TRUST 2024-5 PAID 2024-5 A                   | CUSIP: 69544LAA9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    223199 | PA      | $224877.27    | 0.10%             | 2031-10-15      | Fixed         | 6.28%                 | Yes           |                  2 | On Loan: No      |
| SWCH COMMERCIAL MORTGAGE TRUST                          | SWCH COMMERCIAL MORTGAGE TRUST 2025-DATA SWCH 2025-DATA C           | CUSIP: 78489CAC3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    625000 | PA      | $621484.38    | 0.26%             | 2042-02-15      | Floating      | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                   | FANNIE MAE POOL FN 981754                                           | CUSIP: 31415BE39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |       363 | PA      | $373.58       | 0.00%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DRIVE AUTO RECEIVABLES TRUST                            | DRIVE AUTO RECEIVABLES TRUST 2025-1 DRIVE 2025-1 B                  | CUSIP: 262102AD8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1030000 | PA      | $1038490.29   | 0.44%             | 2032-09-15      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES, INC.                                | ROPER TECHNOLOGIES INC 4.250000% 09/15/2028                         | CUSIP: 776696AK2<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1103267.85   | 0.47%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ABPCI DIRECT LENDING FUND CLO LTD                       | ABPCI DIRECT LENDING FUND CLO VI LTD ABPCI 2019-6A BRR              | CUSIP: 00086GBE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $543404.95    | 0.23%             | 2037-01-27      | Floating      | 5.56%                 | Yes           |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORPORATION                       | CAPITAL ONE FINANCIAL CORP 4.927000% 05/10/2028                     | CUSIP: 14040HCS2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    935000 | PA      | $943976.39    | 0.40%             | 2028-05-10      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE                 | PUBLIC SERVICE CO OF NEW HAMPSHIRE 4.400000% 07/01/2028             | CUSIP: 744538AH2<br>LEI: 549300SHPFALUPKK2351 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1019325.88   | 0.43%             | 2028-07-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| TELUS CORPORATION                                       | TELUS CORP 3.700000% 09/15/2027                                     | CUSIP: 87971MBF9<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | NUSS              | CA        |    765000 | PA      | $758336.79    | 0.32%             | 2027-09-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE-BACKED SECURITIES TRUST                     | GS MORTGAGE-BACKED SECURITIES CORP TRUST 2022-PJ2 GSMBS 2022-PJ2 A7 | CUSIP: 36267EAG6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    697500 | PA      | $661588.77    | 0.28%             | 2052-06-25      | Floating      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| SILVER POINT CLO LTD                                    | SILVER POINT SCF CLO IV LTD SPCSL 2021-1A A1AR                      | CUSIP: 82809JAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $949845.15    | 0.40%             | 2036-10-15      | Floating      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| HSBC USA INC.                                           | HSBC USA INC 4.650000% 06/03/2028                                   | CUSIP: 40428HR95<br>LEI: 549300LBOHZ4QSIWU288 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1028465.30   | 0.44%             | 2028-06-03      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                                | VERTIV GROUP CORP 144A 4.125000% 11/15/2028                         | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |   1185000 | PA      | $1167408.09   | 0.50%             | 2028-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WRKCO INC.                                              | WRKCO INC 3.900000% 06/01/2028                                      | CUSIP: 92940PAE4<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    840000 | PA      | $832406.50    | 0.35%             | 2028-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ARTHUR J. GALLAGHER & CO.                               | ARTHUR J GALLAGHER & CO 4.600000% 12/15/2027                        | CUSIP: 04316JAK5<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    900000 | PA      | $908394.30    | 0.39%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BACARDI LIMITED                                         | BACARDI LTD 144A 2.750000% 07/15/2026                               | CUSIP: 067316AD1<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | NUSS              | BM        |    770000 | PA      | $761204.84    | 0.32%             | 2026-07-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BLACKBIRD CAPITAL AIRCRAFT LEASE SECURITIZATION LIMITED | BLACKBIRD CAPITAL AIRCRAFT LEASE SECURITIZATION LT BBIRD 2016-1A A  | CUSIP: 09228YAB8<br>LEI: N/A                  | Long             | ABS-MBS          |  | KY        |     79401 | PA      | $79426.46     | 0.03%             | 2041-12-16      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| LOWE'S COMPANIES, INC.                                  | LOWE'S COS INC 4.000000% 10/15/2028                                 | CUSIP: 548661EU7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1137493.05   | 0.48%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC.                                           | BROADCOM INC 3.459000% 09/15/2026                                   | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    900000 | PA      | $896068.00    | 0.38%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| RCKT MORTGAGE TRUST                                     | RCKT TRUST 2025-PL1 RCKTL 2025-1A B                                 | CUSIP: 74939RAB7<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1050000 | PA      | $1047500.58   | 0.44%             | 2034-07-25      | Fixed         | 4.99%                 | Yes           |                  2 | On Loan: No      |
| CHASE HOME LENDING MORTGAGE TRUST                       | CHASE HOME LENDING MORTGAGE TRUST SERIES 2024-2 CHASE 2024-2 A4A    | CUSIP: 161929BH6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    511832 | PA      | $517532.14    | 0.22%             | 2055-02-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ANTARES CLO LTD                                         | ANTARES CLO 2018-3 LTD ANTR 2018-3A A1R                             | CUSIP: 03665LAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $948144.65    | 0.40%             | 2036-07-20      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD INC.                           | ALIMENTATION COUCHE-TARD INC 144A 3.550000% 07/26/2027              | CUSIP: 01626PAH9<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | NUSS              | CA        |   1000000 | PA      | $991244.40    | 0.42%             | 2027-07-26      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| PNC Bank, National Association (Delaware)               | PNC BANK NA 4.429000% 07/21/2028                                    | CUSIP: 69353RFZ6<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1070273.78   | 0.45%             | 2028-07-21      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST                            | PAGAYA AI DEBT GRANTOR TRUST 2025-2 PAID 2025-2 B                   | CUSIP: 69545GAC5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    789917 | PA      | $794985.53    | 0.34%             | 2032-10-15      | Fixed         | 5.33%                 | Yes           |                  2 | On Loan: No      |
| FIDELIS MORTGAGE TRUST                                  | FIDELIS MORTGAGE TRUST 2025-RTL1 FIDL 2025-RTL1 A2                  | CUSIP: 31575LAE3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    950000 | PA      | $965406.15    | 0.41%             | 2040-02-27      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| BP CAPITAL MARKETS AMERICA INC.                         | BP CAPITAL MARKETS AMERICA INC 5.017000% 11/17/2027                 | CUSIP: 10373QBY5<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    987000 | PA      | $1006405.57   | 0.43%             | 2027-11-17      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| United States of America                                | US TREASURY N/B 3.875000% 03/31/2027                                | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |   8360000 | PA      | $8384492.21   | 3.56%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES, INC.                                   | DELTA AIR LINES INC 4.950000% 07/10/2028                            | CUSIP: 247361A24<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1013723.87   | 0.43%             | 2028-07-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                             | TRUIST BANK 4.136000% 10/23/2029                                    | CUSIP: 89788JAH2<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1145468.49   | 0.49%             | 2029-10-23      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                            | BX COMMERCIAL MORTGAGE TRUST 2021-VOLT BX 2021-VOLT C               | CUSIP: 05609VAJ4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1065711 | PA      | $1065052.97   | 0.45%             | 2036-09-15      | Floating      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST                  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-4 SDART 2024-4 B        | CUSIP: 802919AD2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    915000 | PA      | $917965.52    | 0.39%             | 2029-09-17      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| KITE REALTY GROUP, L.P.                                 | KITE REALTY GROUP LP 4.000000% 10/01/2026                           | CUSIP: 49803XAA1<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |    985000 | PA      | $982511.11    | 0.42%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL ASSET LEASING TRUST                            | BLUE OWL ASSET LEASING TRUST 2024-1 LLC OWLEF 2024-1A B             | CUSIP: 095921AC6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    540000 | PA      | $545764.18    | 0.23%             | 2030-03-15      | Fixed         | 5.41%                 | Yes           |                  2 | On Loan: No      |
| OAK STREET INVESTMENT GRADE NET LEASE FUND LLC.         | OAK STREET INVESTMENT GRADE NET LEASE FUND SERIES OAKIG 2021-2A A3  | CUSIP: 67181DAL5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1602621 | PA      | $1334170.97   | 0.57%             | 2051-11-20      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                               | NATIONAL FUEL GAS CO 5.500000% 10/01/2026                           | CUSIP: 636180BS9<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1010928.99   | 0.43%             | 2026-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                   | WELLS FARGO & CO MTN 4.900000% 01/24/2028                           | CUSIP: 95000U3R2<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    905000 | PA      | $912525.41    | 0.39%             | 2028-01-24      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MONROE CAPITAL MML CLO LTD                              | MONROE CAPITAL MML CLO XI LTD MCMML 2021-1A A1                      | CUSIP: 61034NAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    794128 | PA      | $793524.63    | 0.34%             | 2033-05-20      | Floating      | 6.02%                 | Yes           |                  2 | On Loan: No      |
| ORACLE CORPORATION                                      | ORACLE CORP 2.300000% 03/25/2028                                    | CUSIP: 68389XCD5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1018533.19   | 0.43%             | 2028-03-25      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| BARINGS EQUIPMENT FINANCE LLC                           | BARINGS EQUIPMENT FINANCE LLC 2025-B MMAF 2025-B A2                 | CUSIP: 06764YAB4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    570000 | PA      | $569549.02    | 0.24%             | 2029-02-13      | Fixed         | 4.02%                 | Yes           |                  2 | On Loan: No      |
| ANTARES HOLDINGS LP                                     | ANTARES HOLDINGS LP 144A 7.950000% 08/11/2028                       | CUSIP: 03666HAF8<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | CA        |   1030000 | PA      | $1091561.01   | 0.46%             | 2028-08-11      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                             | FREDDIE MAC REMICS FHR 5019 DA                                      | CUSIP: 3137FXHH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2108085 | PA      | $2019254.33   | 0.86%             | 2041-05-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LENDING CORPORATION                   | OAKTREE SPECIALTY LENDING CORP 2.700000% 01/15/2027                 | CUSIP: 67401PAC2<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $979586.64    | 0.42%             | 2027-01-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| VOYA CLO                                                | VOYA CLO 2018-4 LTD VOYA 2018-4A A2RR                               | CUSIP: 92917WBN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $950288.80    | 0.40%             | 2037-10-15      | Floating      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST                            | PAGAYA AI DEBT GRANTOR TRUST 2025-1 PAID 2025-1 B                   | CUSIP: 69544NAC1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    334971 | PA      | $338030.06    | 0.14%             | 2032-07-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| COLOGIX DATA CENTERS US ISSUER, LLC                     | COLOGIX DATA CENTERS US ISSUER LLC CLGIX 2021-1A A2                 | CUSIP: 19521UAA1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    500000 | PA      | $488474.45    | 0.21%             | 2051-12-26      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| VONTIER CORPORATION                                     | VONTIER CORP 2.400000% 04/01/2028                                   | CUSIP: 928881AD3<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1123140.13   | 0.48%             | 2028-04-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| AFFIRM ASSET SECURITIZATION TRUST                       | AFFIRM ASSET SECURITIZATION TRUST 2024-B AFFRM 2024-B A             | CUSIP: 00835AAA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1050000 | PA      | $1051919.40   | 0.45%             | 2029-09-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| OCP CLO LTD                                             | OCP CLO 2022-24 LTD OCP 2022-24A A2R                                | CUSIP: 67118YAN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    950000 | PA      | $950285.95    | 0.40%             | 2037-10-20      | Floating      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| FORD CREDIT AUTO OWNER TRUST                            | FORD CREDIT AUTO OWNER TRUST 2025-A FORDO 2025-A B                  | CUSIP: 34535KAF5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    750000 | PA      | $759300.98    | 0.32%             | 2031-02-15      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                           | ENBRIDGE INC 4.600000% 06/20/2028                                   | CUSIP: 29250NCH6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | NUSS              | CA        |   1010000 | PA      | $1019727.07   | 0.43%             | 2028-06-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OPERATING COMPANY                        | PUBLIC STORAGE OPERATING CO VARIABLE RATE 04/16/2027                | CUSIP: 74464AAA9<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |    975000 | PA      | $978027.41    | 0.42%             | 2027-04-16      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST                  | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2025-3 SDART 2025-3 B        | CUSIP: 80288JAD5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1050000 | PA      | $1054150.02   | 0.45%             | 2031-09-15      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| SEQUOIA MORTGAGE TRUST                                  | SEQUOIA MORTGAGE TRUST 2024-5 SEMT 2024-5 A11                       | CUSIP: 81743CAL9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    291144 | PA      | $292001.75    | 0.12%             | 2054-06-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST      | GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST GMCAR 2025-1 B   | CUSIP: 362955AF3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    490000 | PA      | $499073.62    | 0.21%             | 2030-08-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RPM INTERNATIONAL INC.                                  | RPM INTERNATIONAL INC 3.750000% 03/15/2027                          | CUSIP: 749685AV5<br>LEI: 549300TJCKW4BRXPJ474 | Long             | DBT              | CORP              | US        |    962000 | PA      | $954277.97    | 0.41%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN MORTGAGE TRUST                              | J.P. MORGAN MORTGAGE TRUST 2023-2 JPMMT 2023-2 A4A                  | CUSIP: 46656DAM3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    413115 | PA      | $410581.74    | 0.17%             | 2053-07-25      | Floating      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                  | EXTRA SPACE STORAGE LP 5.700000% 04/01/2028                         | CUSIP: 30225VAJ6<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    915000 | PA      | $944804.74    | 0.40%             | 2028-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP.                                    | FS KKR CAPITAL CORP 3.125000% 10/12/2028                            | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    500000 | PA      | $462017.01    | 0.20%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                            | BX COMMERCIAL MORTGAGE TRUST 2025-BCAT BX 2025-BCAT A               | CUSIP: 12433HAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    527057 | PA      | $527385.12    | 0.22%             | 2042-08-15      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| PALMER SQUARE BDC CLO LTD                               | PALMER SQUARE BDC CLO 1 LTD PSBDC 1A A                              | CUSIP: 696928AA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $951459.20    | 0.40%             | 2037-07-15      | Floating      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY                                          | EATON VANCE CORP 3.500000% 04/06/2027                               | CUSIP: 278265AE3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1001669.35   | 0.43%             | 2027-04-06      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AVANT LOANS FUNDING TRUST                               | AVANT LOANS FUNDING TRUST 2025-REV1 AVNT 2025-REV1 A                | CUSIP: 05352BAA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    550000 | PA      | $551722.82    | 0.23%             | 2034-05-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC.                                   | HOWMET AEROSPACE INC 6.750000% 01/15/2028                           | CUSIP: 022249AU0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    925000 | PA      | $977007.94    | 0.42%             | 2028-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HEWLETT PACKARD ENTERPRISE COMPANY                      | HEWLETT PACKARD ENTERPRISE CO 4.400000% 09/25/2027                  | CUSIP: 42824CBS7<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    954000 | PA      | $957709.40    | 0.41%             | 2027-09-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                    | JPMORGAN CHASE & CO 4.505000% 10/22/2028                            | CUSIP: 46647PEP7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    940000 | PA      | $947269.71    | 0.40%             | 2028-10-22      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                   | AMRIZE FINANCE US LLC 144A 4.700000% 04/07/2028                     | CUSIP: 43475RAB2<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    960000 | PA      | $970705.19    | 0.41%             | 2028-04-07      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-31

**Name of Applicant:** THE ADVISORS' INNER CIRCLE III

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

**Title:** Treasurer, Controller and Chief Financial Officer