# EDGAR Filing Document

**Accession Number:** 0001612930
**File Stem:** 0001145549-25-044408
**Filing Date:** 2025-6
**Character Count:** 318400
**Document Hash:** 1c6744cb03f91270fed07f89332ebc8e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-044408.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001145549-25-044408

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Angel Oak Funds Trust
- **CENTRAL INDEX KEY:** 0001612930

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22980
- **FILM NUMBER:** 251086774

**BUSINESS ADDRESS:**
- **STREET 1:** 3344 PEACHTREE ROAD NE, SUITE 1725
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30326
- **BUSINESS PHONE:** 404-953-4900

**MAIL ADDRESS:**
- **STREET 1:** 3344 PEACHTREE ROAD NE, SUITE 1725
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30326

## Series and Classes Contracts Data

### Angel Oak Income ETF (Series ID: S000077753)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000238279 | Angel Oak Income ETF | CARY            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Angel Oak Income ETF** | **Angel Oak Income ETF** | **Angel Oak Income ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** |
| **RESIDENTIAL MORTGAGE-BACKED SECURITIES - 32.8%** | **Par** | **Value** |
|  A&D Mortgage LLC, Series 2024-NQM6, Class B2, 7.30%, 01/25/2070 <sup>(a)(b)</sup> | 1250000 | $1184805 |
| ATLX Trust | ATLX Trust | ATLX Trust |
| &nbsp;&nbsp; Series 2024-RPL1, Class A2, 4.30%, 04/25/2064 <sup>(a)(b)</sup> | 1700000 | 1622245 |
| &nbsp;&nbsp; Series 2024-RPL1, Class M1, 4.30%, 04/25/2064 <sup>(a)(b)</sup> | 5000000 | 4743755 |
| Bellemeade Re Ltd. | Bellemeade Re Ltd. | Bellemeade Re Ltd. |
| &nbsp;&nbsp; Series 2023-1, Class B1, 11.05% (30 day avg SOFR US + 6.70%), 10/25/2033 <sup>(a)</sup> | 200000 | 215436 |
| &nbsp;&nbsp; Series 2023-1, Class M1B, 8.60% (30 day avg SOFR US + 4.25%), 10/25/2033 <sup>(a)</sup> | 1000000 | 1033976 |
| &nbsp;&nbsp; Series 2024-1, Class M2, 8.95% (30 day avg SOFR US + 4.60%), 08/25/2034 <sup>(a)</sup> | 900000 | 938666 |
| BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |
| &nbsp;&nbsp; Series 2021-NQM2, Class A2, 1.28%, 03/25/2060 <sup>(a)(b)</sup> | 181419 | 175314 |
| &nbsp;&nbsp; Series 2024-NQM4, Class A2, 4.35%, 01/25/2060 <sup>(a)(c)</sup> | 463036 | 454818 |
| &nbsp;&nbsp; Series 2024-NQM4, Class A3, 4.35%, 01/25/2060 <sup>(a)(c)</sup> | 926072 | 880974 |
| Cascade Funding Mortgage Trust | Cascade Funding Mortgage Trust | Cascade Funding Mortgage Trust |
| &nbsp;&nbsp; Series 2024-NR1, Class A1, 6.41%, 11/25/2029 <sup>(a)(c)</sup> | 944752 | 960881 |
| &nbsp;&nbsp; Series 2024-R1, Class M1, 4.00%, 10/25/2054 <sup>(a)(c)</sup> | 1000000 | 925634 |
| Chase Mortgage Finance Corp. | Chase Mortgage Finance Corp. | Chase Mortgage Finance Corp. |
| &nbsp;&nbsp; Series 2024-4, Class B4, 6.18%, 03/25/2055 <sup>(a)(b)</sup> | 2027639 | 1881158 |
| &nbsp;&nbsp; Series 2024-5, Class B4, 6.28%, 04/25/2055 <sup>(a)(b)</sup> | 1891778 | 1758865 |
|  Colony American Finance Ltd., Series 2020-4, Class D, 2.71%, 12/15/2052 <sup>(a)</sup> | 300000 | 255563 |
| COLT Funding LLC | COLT Funding LLC | COLT Funding LLC |
| &nbsp;&nbsp; Series 2021-5, Class B1, 4.21%, 11/26/2066 <sup>(a)(b)</sup> | 2000000 | 1712208 |
| &nbsp;&nbsp; Series 2022-3, Class B1, 4.21%, 02/25/2067 <sup>(a)(b)</sup> | 2000000 | 1746078 |
| &nbsp;&nbsp; Series 2022-4, Class A2, 4.50%, 03/25/2067 <sup>(a)(b)</sup> | 528635 | 514945 |
| &nbsp;&nbsp; Series 2022-4, Class B1, 4.70%, 03/25/2067 <sup>(a)(b)</sup> | 2000000 | 1840126 |
| &nbsp;&nbsp; Series 2022-5, Class B1, 4.68%, 03/25/2067 <sup>(a)(b)</sup> | 1250000 | 1149504 |
| &nbsp;&nbsp; Series 2022-7, Class B1, 6.28%, 04/25/2067 <sup>(a)(b)</sup> | 3916000 | 3936868 |
| &nbsp;&nbsp; Series 2023-3, Class B1, 7.85%, 09/25/2068 <sup>(a)(b)</sup> | 2500000 | 2544267 |
| &nbsp;&nbsp; Series 2024-INV3, Class B2, 7.90%, 09/25/2069 <sup>(a)(b)</sup> | 1420000 | 1401304 |
| Credit Suisse Mortgage Capital Certificates | Credit Suisse Mortgage Capital Certificates | Credit Suisse Mortgage Capital Certificates |
| &nbsp;&nbsp; Series 2021-NQM6, Class A3, 1.59%, 07/25/2066 <sup>(a)(b)</sup> | 152711 | 126829 |
| &nbsp;&nbsp; Series 2022-NQM4, Class A3, 4.82%, 06/25/2067 <sup>(a)(c)</sup> | 202836 | 203113 |
| Deephaven Residential Mortgage Trust | Deephaven Residential Mortgage Trust | Deephaven Residential Mortgage Trust |
| &nbsp;&nbsp; Series 2021-2, Class B1, 3.17%, 04/25/2066 <sup>(a)(b)</sup> | 400000 | 304735 |
| &nbsp;&nbsp; Series 2022-1, Class B1, 4.27%, 01/25/2067 <sup>(a)(b)</sup> | 500000 | 405743 |
| &nbsp;&nbsp; Series 2022-3, Class A3, 5.30%, 07/25/2067 <sup>(a)(b)</sup> | 256456 | 259168 |
| Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust |
| &nbsp;&nbsp; Series 2021-1, Class B2, 4.14%, 02/25/2066 <sup>(a)(b)</sup> | 1000000 | 745361 |
| &nbsp;&nbsp; Series 2021-2, Class B1, 3.20%, 06/25/2066 <sup>(a)(b)</sup> | 315000 | 221535 |
| &nbsp;&nbsp; Series 2021-2, Class M1, 2.30%, 06/25/2066 <sup>(a)(b)</sup> | 700000 | 482291 |
| &nbsp;&nbsp; Series 2021-3, Class B2, 4.29%, 09/25/2066 <sup>(a)(b)</sup> | 1500000 | 1122715 |
| &nbsp;&nbsp; Series 2022-1, Class B1, 3.87%, 01/25/2067 <sup>(a)(b)</sup> | 1250000 | 955472 |
| &nbsp;&nbsp; Series 2022-4, Class A3, 5.90%, 09/25/2067 <sup>(a)(c)</sup> | 306374 | 313984 |
| &nbsp;&nbsp; Series 2024-CES1, Class B1, 7.04%, 01/26/2060 <sup>(a)(b)</sup> | 1000000 | 1019283 |
| &nbsp;&nbsp; Series 2024-CES1, Class B2, 8.03%, 01/26/2060 <sup>(a)(b)</sup> | 1000000 | 1019403 |
| &nbsp;&nbsp; Series 2024-NQM1, Class B1A, 7.17%, 11/25/2069 <sup>(a)(b)</sup> | 1000000 | 988421 |
| &nbsp;&nbsp; Series 2024-NQM1, Class B3, 7.65%, 11/25/2069 <sup>(a)(b)</sup> | 400000 | 376242 |
| &nbsp;&nbsp; Series 2025-INV2, Class B1, 7.48%, 05/26/2070 <sup>(a)(b)</sup> | 1000000 | 996993 |
| &nbsp;&nbsp; Series 2025-INV2, Class B2, 7.48%, 05/26/2070 <sup>(a)(b)</sup> | 1000000 | 950224 |
| &nbsp;&nbsp; Series 2025-NQM1, Class B1B, 7.45%, 01/25/2070 <sup>(a)(b)</sup> | 2000000 | 1984400 |
| &nbsp;&nbsp; Series 2025-NQM1, Class B2, 7.45%, 01/25/2070 <sup>(a)(b)</sup> | 1804000 | 1747795 |
| FIGRE Trust | FIGRE Trust | FIGRE Trust |
| &nbsp;&nbsp; Series 2024-HE1, Class D, 7.19%, 03/25/2054 <sup>(a)(b)</sup> | 778101 | 805744 |
| &nbsp;&nbsp; Series 2024-HE4, Class C, 5.30%, 09/25/2054 <sup>(a)(b)</sup> | 950602 | 947866 |
| GCAT Trust | GCAT Trust | GCAT Trust |
| &nbsp;&nbsp; Series 2021-NQM2, Class A3, 1.50%, 05/25/2066 <sup>(a)(b)</sup> | 197466 | 173757 |
| &nbsp;&nbsp; Series 2022-NQM2, Class A3, 4.21%, 02/25/2067 <sup>(a)(b)</sup> | 767906 | 726293 |
| GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
| &nbsp;&nbsp; Series 2021-MM1, Class A2, 2.50%, 04/25/2052 <sup>(a)(b)</sup> | 821257 | 674396 |
| &nbsp;&nbsp; Series 2024-PJ7, Class B4, 6.70%, 11/25/2054 <sup>(a)(b)</sup> | 1529000 | 1326172 |
| &nbsp;&nbsp; Series 2024-PJ8, Class B5, 6.91%, 02/25/2055 <sup>(a)(b)</sup> | 1262000 | 1122650 |
| &nbsp;&nbsp; Series 2024-PJ8, Class B6, 6.91%, 02/25/2055 <sup>(a)(b)</sup> | 1734641 | 1218646 |
| &nbsp;&nbsp; Series 2024-RPL4, Class M1, 4.00%, 09/25/2061 <sup>(a)(b)</sup> | 1500000 | 1318276 |
|  Invitation Homes Trust, Series 2024-SFR1, Class A, 4.00%, 09/17/2041 <sup>(a)</sup> | 998290 | 965545 |
| JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| &nbsp;&nbsp; Series 2014-2, Class B2, 3.40%, 06/25/2029 <sup>(a)(b)</sup> | 21186 | 20546 |
| &nbsp;&nbsp; Series 2019-INV3, Class B5, 4.35%, 05/25/2050 <sup>(a)(b)</sup> | 1647178 | 1465185 |
| &nbsp;&nbsp; Series 2020-3, Class B4, 3.83%, 08/25/2050 <sup>(a)(b)</sup> | 334790 | 298435 |
| &nbsp;&nbsp; Series 2020-4, Class B2, 3.64%, 11/25/2050 <sup>(a)(b)</sup> | 1159316 | 1027612 |
| &nbsp;&nbsp; Series 2023-6, Class B4, 6.19%, 12/26/2053 <sup>(a)(b)</sup> | 519900 | 440092 |
| &nbsp;&nbsp; Series 2023-7, Class B4, 6.23%, 02/25/2054 <sup>(a)(b)</sup> | 1035500 | 839015 |
| &nbsp;&nbsp; Series 2024-1, Class B6, 5.64%, 06/25/2054 <sup>(a)(b)</sup> | 2285608 | 1511667 |
| &nbsp;&nbsp; Series 2024-10, Class B4, 6.99%, 03/25/2055 <sup>(a)(b)</sup> | 3532026 | 3366995 |
| &nbsp;&nbsp; Series 2024-10, Class B5, 6.99%, 03/25/2055 <sup>(a)(b)</sup> | 1421000 | 1231157 |
| &nbsp;&nbsp; Series 2024-9, Class B5, 7.01%, 02/25/2055 <sup>(a)(b)</sup> | 1339000 | 1166082 |
| &nbsp;&nbsp; Series 2025-CES2, Class M1, 6.24%, 06/25/2055 <sup>(a)(c)</sup> | 1500000 | 1530235 |
|  L Street Securities, Series 2015-WF1, Class 1M2, 9.72% (30 day avg SOFR US + 5.36%), 11/25/2025 <sup>(a)</sup> | 28106 | 28526 |
|  Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, 4.75%, 07/25/2061 <sup>(a)(c)</sup> | 956629 | 972751 |
|  Mello Mortgage Capital Acceptance, Series 2022-INV2, Class A15, 3.00%, 04/25/2052 <sup>(a)(b)</sup> | 411381 | 352620 |
|  MFRA Trust, Series 2021-NQM2, Class A3, 1.47%, 11/25/2064 <sup>(a)(b)</sup> | 376634 | 331473 |
|  Morgan Stanley Residential Mortgage Loan Trust, Series 2023-3, Class B4, 6.56%, 09/25/2053 <sup>(a)(b)</sup> | 1198000 | 1025856 |
|  New Residential Mortgage LLC, Series 2025-FHT1, Class A, 6.55%, 03/25/2032 <sup>(a)(c)</sup> | 969818 | 973206 |
| New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
| &nbsp;&nbsp; Series 2017-5A, Class B4, 6.30%, 06/25/2057 <sup>(a)(b)</sup> | 256848 | 254555 |
| &nbsp;&nbsp; Series 2019-2A, Class B6, 4.75%, 12/25/2057 <sup>(a)(b)</sup> | 1428036 | 1076736 |
|  Oaktown Re, Series 2021-2, Class M1B, 7.25% (30 day avg SOFR US + 2.90%), 04/25/2034 <sup>(a)</sup> | 1765418 | 1785944 |
| Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust |
| &nbsp;&nbsp; Series 2019-EXP1, Class 1A3, 4.00%, 01/25/2059 <sup>(a)(b)</sup> | 74427 | 73848 |
| &nbsp;&nbsp; Series 2021-J2, Class A1, 2.50%, 07/25/2051 <sup>(a)(b)</sup> | 1552259 | 1264382 |
|  PMT Loan Trust, Series 2024-INV2, Class A1, 6.00%, 12/25/2059 <sup>(a)(b)</sup> | 722687 | 732177 |
| Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC | Pretium Mortgage Credit Partners LLC |
| &nbsp;&nbsp; Series 2024-NPL3, Class A2, 10.04%, 04/27/2054 <sup>(a)(c)</sup> | 1000000 | 1007500 |
| &nbsp;&nbsp; Series 2024-NPL4, Class A1, 7.00%, 07/25/2054 <sup>(a)(c)</sup> | 927464 | 940524 |
| &nbsp;&nbsp; Series 2024-NPL6, Class A1, 5.93%, 10/25/2054 <sup>(a)(c)</sup> | 919372 | 925559 |
| &nbsp;&nbsp; Series 2024-NPL7, Class A1, 5.93%, 10/25/2054 <sup>(a)(c)</sup> | 949806 | 959143 |
| &nbsp;&nbsp; Series 2025-RPL1, Class A2, 4.00%, 07/25/2069 <sup>(a)(c)</sup> | 1500000 | 1394898 |
|  Progress Residential Trust, Series 2023-SFR2, Class D, 4.50%, 10/17/2040 <sup>(a)</sup> | 200000 | 194133 |
| PRPM LLC | PRPM LLC | PRPM LLC |
| &nbsp;&nbsp; Series 2020-4, Class A1, 6.61%, 10/25/2025 <sup>(a)(c)</sup> | 385319 | 385388 |
| &nbsp;&nbsp; Series 2022-NQM1, Class B1, 5.42%, 08/25/2067 <sup>(a)(b)</sup> | 1500000 | 1474741 |
| &nbsp;&nbsp; Series 2024-1, Class A1, 6.96%, 02/25/2029 <sup>(a)(c)</sup> | 437776 | 447018 |
| &nbsp;&nbsp; Series 2024-2, Class A1, 7.03%, 03/25/2029 <sup>(a)(c)</sup> | 842896 | 861220 |
| &nbsp;&nbsp; Series 2024-2, Class A2, 10.04%, 03/25/2029 <sup>(a)(c)</sup> | 1500000 | 1545618 |
| &nbsp;&nbsp; Series 2024-3, Class A2, 9.56%, 05/25/2029 <sup>(a)(c)</sup> | 1000000 | 1019585 |
| &nbsp;&nbsp; Series 2024-5, Class A1, 5.69%, 09/25/2029 <sup>(a)(c)</sup> | 451689 | 457496 |
| &nbsp;&nbsp; Series 2024-7, Class A1, 5.87%, 11/25/2029 <sup>(a)(c)</sup> | 907553 | 911193 |
| &nbsp;&nbsp; Series 2024-RCF1, Class M1, 4.00%, 01/25/2054 <sup>(a)(c)</sup> | 250000 | 236595 |
| &nbsp;&nbsp; Series 2024-RCF2, Class A3, 3.75%, 03/25/2054 <sup>(a)(c)</sup> | 2000000 | 1880512 |
| &nbsp;&nbsp; Series 2024-RCF4, Class M1, 4.00%, 07/25/2054 <sup>(a)(c)</sup> | 1850000 | 1729719 |
| &nbsp;&nbsp; Series 2025-2, Class A1, 6.47%, 05/25/2030 <sup>(a)(c)</sup> | 1500000 | 1515630 |
| Radnor RE Ltd. | Radnor RE Ltd. | Radnor RE Ltd. |
| &nbsp;&nbsp; Series 2024-1, Class M1C, 7.85% (30 day avg SOFR US + 3.50%), 09/25/2034 <sup>(a)</sup> | 500000 | 505892 |
| &nbsp;&nbsp; Series 2024-1, Class M2, 8.35% (30 day avg SOFR US + 4.00%), 09/25/2034 <sup>(a)</sup> | 1000000 | 1034918 |
|  Rate Mortgage Trust, Series 2021-J3, Class A25, 2.50%, 10/25/2051 <sup>(a)(b)</sup> | 500000 | 330100 |
|  RCKT Mortgage Trust, Series 2022-4, Class A2, 3.50%, 06/25/2052 <sup>(a)(b)</sup> | 2512858 | 2203771 |
| Rithm Capital Corp. | Rithm Capital Corp. | Rithm Capital Corp. |
| &nbsp;&nbsp; Series 2015-1A, Class B6, 5.21%, 05/28/2052 <sup>(a)(b)</sup> | 854388 | 620258 |
| &nbsp;&nbsp; Series 2022-SFR2, Class E2, 4.00%, 09/04/2039 <sup>(a)</sup> | 700000 | 667447 |
| Saluda Grade Mortgage Funding LLC | Saluda Grade Mortgage Funding LLC | Saluda Grade Mortgage Funding LLC |
| &nbsp;&nbsp; Series 2020-SEQ1, Class A1, 3.32%, 05/25/2050 <sup>(a)(b)</sup> | 158748 | 155770 |
| &nbsp;&nbsp; Series 2023-FIG3, Class A, 7.07%, 08/25/2053 <sup>(a)(b)</sup> | 724669 | 743364 |
| &nbsp;&nbsp; Series 2023-FIG4, Class A, 6.72%, 11/25/2053 <sup>(a)(b)</sup> | 1526736 | 1580813 |
| &nbsp;&nbsp; Series 2025-NPL1, Class A1, 7.12%, 01/25/2030 <sup>(a)(c)</sup> | 3127275 | 3142392 |
| &nbsp;&nbsp; Series 2025-NPL1, Class A2, 9.05%, 01/25/2030 <sup>(a)(c)</sup> | 500000 | 500491 |
| Sequoia Mortgage Trust | Sequoia Mortgage Trust | Sequoia Mortgage Trust |
| &nbsp;&nbsp; Series 2018-2, Class A19, 3.50%, 02/25/2048 <sup>(a)(b)</sup> | 167570 | 151143 |
| &nbsp;&nbsp; Series 2023-2, Class B4, 5.02%, 03/25/2053 <sup>(a)(b)</sup> | 1409916 | 1255591 |
| &nbsp;&nbsp; Series 2023-4, Class B4, 6.11%, 11/25/2053 <sup>(a)(b)</sup> | 1443304 | 1295511 |
| &nbsp;&nbsp; Series 2024-2, Class B4, 6.26%, 03/25/2054 <sup>(a)(b)</sup> | 1439301 | 1316858 |
| SGR Residential Mortgage Trust | SGR Residential Mortgage Trust | SGR Residential Mortgage Trust |
| &nbsp;&nbsp; Series 2021-1, Class A3, 1.56%, 07/25/2061 <sup>(a)(b)</sup> | 1484971 | 1240179 |
| &nbsp;&nbsp; Series 2021-2, Class A1, 1.74%, 12/25/2061 <sup>(a)(b)</sup> | 354302 | 299886 |
| &nbsp;&nbsp; Series 2021-2, Class A2, 1.94%, 12/25/2061 <sup>(a)(b)</sup> | 571864 | 488453 |
| &nbsp;&nbsp; Series 2021-2, Class B2, 4.04%, 12/25/2061 <sup>(a)(b)</sup> | 910000 | 621021 |
| Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust |
| &nbsp;&nbsp; Series 2019-INV1, Class B1, 3.66%, 09/27/2049 <sup>(a)(b)</sup> | 500000 | 466031 |
| &nbsp;&nbsp; Series 2021-1, Class B1, 3.52%, 05/25/2065 <sup>(a)(b)</sup> | 600000 | 514291 |
| &nbsp;&nbsp; Series 2021-3, Class M1, 2.49%, 06/25/2056 <sup>(a)(b)</sup> | 1000000 | 745821 |
| &nbsp;&nbsp; Series 2022-3, Class A3, 4.16%, 03/25/2067 <sup>(a)(b)</sup> | 961510 | 901592 |
| Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
| &nbsp;&nbsp; Series 2017-6, Class B4, 3.35%, 10/25/2057 <sup>(a)(b)</sup> | 3000000 | 2111562 |
| &nbsp;&nbsp; Series 2018-5, Class B3, 3.49%, 07/25/2058 <sup>(a)(b)</sup> | 2000000 | 1382128 |
| &nbsp;&nbsp; Series 2019-1, Class B2, 3.46%, 03/25/2058 <sup>(a)(b)</sup> | 2000000 | 1461668 |
| &nbsp;&nbsp; Series 2021-SJ2, Class A2, 2.50%, 12/25/2061 <sup>(a)(b)</sup> | 2000000 | 1856326 |
|  Tricon American Homes Trust, Series 2020-SFR1, Class D, 2.55%, 07/17/2038 <sup>(a)</sup> | 200000 | 193444 |
|  VCAT Asset Securitization LLC, Series 2025-NPL1, Class A1, 5.88%, 01/25/2055 <sup>(a)(c)</sup> | 461837 | 461819 |
| Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| &nbsp;&nbsp; Series 2021-1, Class M1, 1.97%, 01/25/2066 <sup>(a)(b)</sup> | 1926000 | 1503927 |
| &nbsp;&nbsp; Series 2021-3, Class B2, 3.96%, 06/25/2066 <sup>(a)(b)</sup> | 1257000 | 911935 |
| &nbsp;&nbsp; Series 2021-3, Class M1, 2.40%, 06/25/2066 <sup>(a)(b)</sup> | 1500000 | 1115334 |
| &nbsp;&nbsp; Series 2021-4, Class A3, 1.35%, 07/25/2066 <sup>(a)(b)</sup> | 612428 | 502194 |
| &nbsp;&nbsp; Series 2021-6, Class M1, 2.94%, 10/25/2066 <sup>(a)(b)</sup> | 290000 | 212295 |
| &nbsp;&nbsp; Series 2021-7, Class B1, 4.14%, 10/25/2066 <sup>(a)(b)</sup> | 400000 | 307280 |
| &nbsp;&nbsp; Series 2022-3, Class A3, 4.13%, 02/25/2067 <sup>(a)(b)</sup> | 2128957 | 2003172 |
| &nbsp;&nbsp; Series 2022-4, Class B1, 4.77%, 04/25/2067 <sup>(a)(b)</sup> | 2000000 | 1796058 |
| &nbsp;&nbsp; Series 2022-7, Class B1, 5.34%, 07/25/2067 <sup>(a)(b)</sup> | 1100000 | 1091846 |
| &nbsp;&nbsp; Series 2022-7, Class B2, 5.34%, 07/25/2067 <sup>(a)(b)</sup> | 1325000 | 1304184 |
| &nbsp;&nbsp; Series 2022-8, Class A3, 6.13%, 09/25/2067 <sup>(a)(c)</sup> | 312413 | 314246 |
| &nbsp;&nbsp; Series 2022-INV1, Class B1, 5.80%, 08/25/2067 <sup>(a)(b)</sup> | 1500000 | 1488720 |
| &nbsp;&nbsp; Series 2022-INV1, Class B2, 5.80%, 08/25/2067 <sup>(a)(b)</sup> | 2730000 | 2669945 |
| &nbsp;&nbsp; Series 2023-1, Class A2, 6.56%, 12/25/2067 <sup>(a)(c)</sup> | 424178 | 432958 |
| &nbsp;&nbsp; Series 2023-INV1, Class A2, 6.56%, 02/25/2068 <sup>(a)(c)</sup> | 474984 | 484016 |
| &nbsp;&nbsp; Series 2023-INV1, Class M1, 7.50%, 02/25/2068 <sup>(a)(b)</sup> | 126000 | 129104 |
| Vista Point Securitization Trust | Vista Point Securitization Trust | Vista Point Securitization Trust |
| &nbsp;&nbsp; Series 2024-CES1, Class B2, 10.35%, 05/25/2054 <sup>(a)(b)</sup> | 1000000 | 1061192 |
| &nbsp;&nbsp; Series 2024-CES2, Class A3, 5.91%, 10/25/2054 <sup>(a)(c)</sup> | 500000 | 498454 |
| &nbsp;&nbsp; Series 2024-CES2, Class B1, 7.50%, 10/25/2054 <sup>(a)(b)</sup> | 1000000 | 1032202 |
| &nbsp;&nbsp; Series 2024-CES3, Class B1, 7.83%, 01/25/2055 <sup>(a)(b)</sup> | 1250000 | 1259884 |
| &nbsp;&nbsp; Series 2025-CES1, Class B1, 0.00%, 04/25/2055 <sup>(a)(b)</sup> | 4181000 | 4165321 |
| **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES** (Cost $146,794,846) | **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES** (Cost $146,794,846) | 147568816 |
| **RESIDENTIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY - 22.3%** | **Par** | **Value** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Pool QG4323, 6.00%, 06/01/2053 | 1232366 | 1253781 |
| &nbsp;&nbsp; Pool QI2043, 6.00%, 03/01/2054 | 949211 | 966594 |
| &nbsp;&nbsp; Pool QI4343, 4.50%, 04/01/2054 | 2919306 | 2792139 |
| &nbsp;&nbsp; Pool QJ0865, 5.50%, 08/01/2054 | 1048288 | 1045498 |
| &nbsp;&nbsp; Pool QJ6384, 5.50%, 10/01/2054 | 4989836 | 4976553 |
| &nbsp;&nbsp; Pool QJ6482, 5.00%, 10/01/2054 | 486113 | 475305 |
| &nbsp;&nbsp; Pool QJ7063, 5.50%, 10/01/2054 | 2484332 | 2485483 |
| &nbsp;&nbsp; Pool QJ7675, 6.00%, 11/01/2054 | 2873858 | 2918409 |
| &nbsp;&nbsp; Pool QJ7677, 5.50%, 11/01/2054 | 2483810 | 2481855 |
| &nbsp;&nbsp; Pool QX0791, 5.50%, 12/01/2054 | 2206032 | 2209120 |
| &nbsp;&nbsp; Pool QX1669, 5.00%, 12/01/2054 | 993575 | 981732 |
| &nbsp;&nbsp; Pool RA4179, 2.50%, 12/01/2050 | 4814213 | 4010440 |
| &nbsp;&nbsp; Pool RA7673, 4.50%, 07/01/2052 | 855179 | 816857 |
| &nbsp;&nbsp; Pool RJ1366, 5.00%, 04/01/2054 | 962557 | 940856 |
| &nbsp;&nbsp; Pool RJ1430, 6.00%, 05/01/2054 | 898088 | 911449 |
| &nbsp;&nbsp; Pool SD2500, 5.00%, 03/01/2053 | 1331348 | 1301332 |
| &nbsp;&nbsp; Pool SD5007, 5.00%, 09/01/2053 | 1010704 | 989813 |
| &nbsp;&nbsp; Pool SD5143, 6.00%, 04/01/2054 | 891909 | 906850 |
| &nbsp;&nbsp; Pool SD5709, 6.00%, 07/01/2054 | 932613 | 951441 |
| &nbsp;&nbsp; Pool SD6195, 5.00%, 10/01/2053 | 900901 | 885095 |
| &nbsp;&nbsp; Pool SD6585, 5.50%, 10/01/2054 | 3718718 | 3714217 |
| &nbsp;&nbsp; Pool SD6591, 5.00%, 10/01/2054 | 2357189 | 2304046 |
| &nbsp;&nbsp; Pool SD7029, 5.00%, 12/01/2054 | 2967708 | 2930478 |
| &nbsp;&nbsp; Pool SD8331, 5.50%, 06/01/2053 | 845922 | 845785 |
| &nbsp;&nbsp; Pool SD8383, 5.50%, 12/01/2053 | 895094 | 892152 |
| &nbsp;&nbsp; Pool SL0079, 5.00%, 02/01/2055 | 3981985 | 3910060 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; Pool 000TBA, 5.00%, 05/15/2041 | 5000000 | 4895253 |
| &nbsp;&nbsp; Pool BR0948, 2.00%, 04/01/2051 | 3122595 | 2478541 |
| &nbsp;&nbsp; Pool BW5186, 5.00%, 11/01/2052 | 871224 | 852672 |
| &nbsp;&nbsp; Pool CB3000, 2.00%, 12/01/2051 | 5099751 | 4041522 |
| &nbsp;&nbsp; Pool DB3770, 5.50%, 05/01/2054 | 977327 | 974725 |
| &nbsp;&nbsp; Pool DC1302, 5.00%, 08/01/2054 | 988989 | 973182 |
| &nbsp;&nbsp; Pool DC3426, 5.00%, 09/01/2054 | 988314 | 967886 |
| &nbsp;&nbsp; Pool DC5739, 5.50%, 11/01/2054 | 1494715 | 1493071 |
| &nbsp;&nbsp; Pool FA0161, 5.50%, 12/01/2054 | 942365 | 941035 |
| &nbsp;&nbsp; Pool FS2078, 3.50%, 06/01/2052 | 4137046 | 3748413 |
| &nbsp;&nbsp; Pool FS4653, 5.50%, 05/01/2053 | 1218930 | 1217644 |
| &nbsp;&nbsp; Pool FS6738, 5.00%, 09/01/2053 | 2357295 | 2315802 |
| &nbsp;&nbsp; Pool FS7280, 5.00%, 03/01/2053 | 903712 | 885597 |
| &nbsp;&nbsp; Pool FS7798, 6.00%, 06/01/2054 | 937224 | 953510 |
| &nbsp;&nbsp; Pool FS8870, 5.00%, 09/01/2053 | 2808209 | 2757184 |
| &nbsp;&nbsp; Pool FS9192, 3.00%, 07/01/2052 | 3855778 | 3341097 |
| &nbsp;&nbsp; Pool FS9409, 5.50%, 10/01/2054 | 5715363 | 5718010 |
| &nbsp;&nbsp; Pool MB0302, 5.50%, 02/01/2055 | 1995209 | 1988651 |
| Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp; Pool MA8490, 5.00%, 12/20/2052 | 821907 | 804886 |
| &nbsp;&nbsp; Pool MA8570, 5.50%, 01/20/2053 | 5062927 | 5053996 |
| &nbsp;&nbsp; Pool MA8725, 5.00%, 03/20/2053 | 421908 | 413171 |
| &nbsp;&nbsp; Pool MA8727, 6.00%, 03/20/2053 | 633550 | 640228 |
| &nbsp;&nbsp; Pool MA9018, 6.00%, 07/20/2053 | 706373 | 713819 |
| &nbsp;&nbsp; Pool MA9106, 5.50%, 08/20/2053 | 2900465 | 2895349 |
| &nbsp;&nbsp; Pool MA9305, 5.50%, 11/20/2053 | 639673 | 638545 |
| **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY** (Cost $100,436,795) | **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY** (Cost $100,436,795) | 100601129 |
| **ASSET-BACKED SECURITIES - 18.8%** | **Par** | **Value** |
| **Automobile - 10.8%** | **Automobile - 10.8%** | **Automobile - 10.8%** |
| Avis Budget Car Rental LLC | Avis Budget Car Rental LLC | Avis Budget Car Rental LLC |
| &nbsp;&nbsp; Series 2021-2A, Class D, 4.08%, 02/20/2028 <sup>(a)</sup> | 1500000 | 1437864 |
| &nbsp;&nbsp; Series 2023-2A, Class D, 7.26%, 10/20/2027 <sup>(a)</sup> | 1500000 | 1500774 |
| &nbsp;&nbsp; Series 2023-7A, Class D, 7.31%, 08/21/2028 <sup>(a)</sup> | 1000000 | 1002183 |
|  Bridgecrest Lending Auto Securitization Trust, Series 2023-1, Class E, 10.37%, 07/15/2030 <sup>(a)</sup> | 2000000 | 2183924 |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
| &nbsp;&nbsp; Series 2021-N4, Class E, 4.53%, 09/11/2028 <sup>(a)</sup> | 3676410 | 3532627 |
| &nbsp;&nbsp; Series 2023-N2, Class E, 9.94%, 04/10/2030 <sup>(a)</sup> | 1000000 | 1052192 |
| &nbsp;&nbsp; Series 2023-N3, Class E, 9.49%, 09/10/2030 <sup>(a)</sup> | 1000000 | 1049481 |
| &nbsp;&nbsp; Series 2024-P2, Class D, 6.10%, 06/10/2031 | 375000 | 385184 |
| &nbsp;&nbsp; Series 2024-P3, Class D, 5.39%, 09/10/2032 | 500000 | 497034 |
| CPS Auto Trust | CPS Auto Trust | CPS Auto Trust |
| &nbsp;&nbsp; Series 2022-C, Class E, 9.08%, 04/15/2030 <sup>(a)</sup> | 1000000 | 1043698 |
| &nbsp;&nbsp; Series 2022-D, Class E, 12.12%, 06/17/2030 <sup>(a)</sup> | 1000000 | 1100793 |
| &nbsp;&nbsp; Series 2024-A, Class E, 8.42%, 08/15/2031 <sup>(a)</sup> | 5200000 | 5369079 |
| &nbsp;&nbsp; Series 2024-B, Class E, 8.36%, 11/17/2031 <sup>(a)</sup> | 1000000 | 1031919 |
| &nbsp;&nbsp; Series 2024-C, Class E, 8.04%, 03/15/2032 <sup>(a)</sup> | 500000 | 512067 |
| Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
| &nbsp;&nbsp; Series 2021-3A, Class E, 3.04%, 12/15/2028 <sup>(a)</sup> | 300000 | 292437 |
| &nbsp;&nbsp; Series 2022-1A, Class E, 5.02%, 10/15/2029 <sup>(a)</sup> | 3000000 | 2913329 |
| &nbsp;&nbsp; Series 2022-5A, Class E, 10.45%, 04/15/2030 <sup>(a)</sup> | 1000000 | 1053222 |
| &nbsp;&nbsp; Series 2023-2A, Class E, 9.75%, 11/15/2030 <sup>(a)</sup> | 1000000 | 1076245 |
| &nbsp;&nbsp; Series 2024-1A, Class E, 7.89%, 08/15/2031 <sup>(a)</sup> | 1000000 | 1021644 |
| &nbsp;&nbsp; Series 2024-2A, Class E, 7.98%, 10/15/2031 <sup>(a)</sup> | 1354000 | 1385435 |
| &nbsp;&nbsp; Series 2024-3A, Class E, 7.84%, 10/15/2031 <sup>(a)</sup> | 1255000 | 1277831 |
| &nbsp;&nbsp; Series 2024-5A, Class E, 7.22%, 05/17/2032 <sup>(a)</sup> | 1414000 | 1408848 |
|  FHF Trust, Series 2024-3A, Class D, 6.01%, 12/15/2031 <sup>(a)</sup> | 1000000 | 1000949 |
| GLS Auto Receivables Trust | GLS Auto Receivables Trust | GLS Auto Receivables Trust |
| &nbsp;&nbsp; Series 2023-1A, Class E, 11.42%, 03/15/2030 <sup>(a)</sup> | 1000000 | 1118029 |
| &nbsp;&nbsp; Series 2023-3A, Class E, 9.27%, 08/15/2030 <sup>(a)</sup> | 1500000 | 1599663 |
| &nbsp;&nbsp; Series 2023-4A, Class E, 9.72%, 08/15/2030 <sup>(a)</sup> | 1000000 | 1083292 |
| Hertz Global Holdings, Inc. | Hertz Global Holdings, Inc. | Hertz Global Holdings, Inc. |
| &nbsp;&nbsp; Series 2021-2A, Class D, 4.34%, 12/27/2027 <sup>(a)</sup> | 1000000 | 951176 |
| &nbsp;&nbsp; Series 2022-2A, Class D, 5.16%, 06/26/2028 <sup>(a)</sup> | 1000000 | 943242 |
|  Huntington Bank Auto Credit-Linked Notes, Series 2024-1, Class D, 9.60% (30 day avg SOFR US + 5.25%), 05/20/2032 <sup>(a)</sup> | 321958 | 327068 |
|  JPMorgan Chase Bank NA, Series 2021-2, Class G, 8.48%, 12/26/2028 <sup>(a)</sup> | 778244 | 781892 |
|  Kinetic Advantage Master Owner Trust, Series 2024-1A, Class A, 6.99% (30 day avg SOFR US + 2.65%), 11/15/2027 <sup>(a)</sup> | 500000 | 501819 |
|  Lobel Automobile Receivables Trust, Series 2023-1, Class C, 8.31%, 10/16/2028 <sup>(a)</sup> | 250000 | 253926 |
|  Luxury Lease Partners Auto Lease Trust, Series 2024-4, Class A, 7.29%, 07/15/2030 <sup>(a)</sup> | 480996 | 483372 |
| Prestige Auto Receivables Trust | Prestige Auto Receivables Trust | Prestige Auto Receivables Trust |
| &nbsp;&nbsp; Series 2022-1A, Class D, 8.08%, 08/15/2028 <sup>(a)</sup> | 25000 | 25348 |
| &nbsp;&nbsp; Series 2024-1A, Class E, 7.94%, 04/15/2031 <sup>(a)</sup> | 300000 | 306479 |
| &nbsp;&nbsp; Series 2024-2A, Class E, 6.75%, 11/17/2031 <sup>(a)</sup> | 750000 | 733234 |
|  Santander Holdings USA, Inc., Series 2024-A, Class F, 10.17%, 06/15/2032 <sup>(a)</sup> | 276609 | 282244 |
|  SBNA Auto Receivables Trust, Series 2024-A, Class E, 8.00%, 04/15/2032 <sup>(a)</sup> | 1500000 | 1547354 |
|  Securitized Term Auto Receivables Trust, Series 2025-A, Class D, 6.75%, 07/25/2031 <sup>(a)</sup> | 870544 | 880621 |
|  Skopos Auto Receivable Trust, Series 2019-1A, Class E, 7.82%, 06/15/2026 <sup>(a)</sup> | 145688 | 146155 |
|  Strike Acceptance Auto Funding Trust, Series 2023-1A, Class A, 8.00%, 05/15/2026 <sup>(a)</sup> | 329773 | 330402 |
| Tricolor Auto Securitization Trust | Tricolor Auto Securitization Trust | Tricolor Auto Securitization Trust |
| &nbsp;&nbsp; Series 2023-1A, Class E, 13.45%, 06/15/2028 <sup>(a)</sup> | 200000 | 211156 |
| &nbsp;&nbsp; Series 2023-1A, Class F, 16.00%, 06/17/2030 <sup>(a)</sup> | 800000 | 843939 |
|  United Auto Credit Securitization Trust, Series 2022-1, Class E, 5.00%, 11/10/2028 <sup>(a)</sup> | 881702 | 862023 |
|  US Auto Funding Trust, Series 2022-1A, Class A, 3.98%, 10/15/2025 <sup>(a)</sup> | 22126 | 21961 |
| Veros Automobile Receivables Trust | Veros Automobile Receivables Trust | Veros Automobile Receivables Trust |
| &nbsp;&nbsp; Series 2024-1, Class C, 7.57%, 12/15/2028 <sup>(a)</sup> | 680000 | 701686 |
| &nbsp;&nbsp; Series 2024-1, Class D, 9.87%, 05/15/2031 <sup>(a)</sup> | 500000 | 528418 |
|  |  | 48593258 |
| **Consumer - 6.3%** | **Consumer - 6.3%** | **Consumer - 6.3%** |
|  ACHV ABS Trust, Series 2024-2PL, Class D, 6.40%, 10/27/2031 <sup>(a)</sup> | 600000 | 600854 |
| Affirm, Inc. | Affirm, Inc. | Affirm, Inc. |
| &nbsp;&nbsp; Series 2024-A, Class 1E, 9.17%, 02/15/2029 <sup>(a)</sup> | 1000000 | 1010604 |
| &nbsp;&nbsp; Series 2024-A, Class D, 6.89%, 02/15/2029 <sup>(a)</sup> | 200000 | 201279 |
| &nbsp;&nbsp; Series 2024-A, Class E, 9.17%, 02/15/2029 <sup>(a)</sup> | 200000 | 202121 |
| &nbsp;&nbsp; Series 2024-B, Class E, 7.35%, 09/15/2029 <sup>(a)</sup> | 1000000 | 975598 |
|  Aqua Finance Trust, Series 2021-A, Class C, 3.14%, 07/17/2046 <sup>(a)</sup> | 180000 | 162390 |
| Bankers Healthcare Group, Inc. | Bankers Healthcare Group, Inc. | Bankers Healthcare Group, Inc. |
| &nbsp;&nbsp; Series 2024-1CON, Class C, 6.86%, 04/17/2035 <sup>(a)</sup> | 800000 | 822268 |
| &nbsp;&nbsp; Series 2024-1CON, Class D, 8.00%, 04/17/2035 <sup>(a)</sup> | 200000 | 206549 |
|  Foundation Finance Trust, Series 2021-1A, Class D, 4.96%, 05/15/2041 <sup>(a)</sup> | 78035 | 74923 |
|  GreenSky Home Improvement Trust, Series 2024-1, Class E, 9.00%, 06/25/2059 <sup>(a)</sup> | 500000 | 505809 |
| Lendingpoint Asset Securitization Trust | Lendingpoint Asset Securitization Trust | Lendingpoint Asset Securitization Trust |
| &nbsp;&nbsp; Series 2021-B, Class C, 3.21%, 02/15/2029 <sup>(a)</sup> | 228440 | 221664 |
| &nbsp;&nbsp; Series 2022-B, Class C, 8.45%, 10/15/2029 <sup>(a)</sup> | 100000 | 23870 |
| Marlette Funding Trust | Marlette Funding Trust | Marlette Funding Trust |
| &nbsp;&nbsp; Series 2022-3A, Class D, 7.80%, 11/15/2032 <sup>(a)</sup> | 2636000 | 2660763 |
| &nbsp;&nbsp; Series 2023-1A, Class D, 8.15%, 04/15/2033 <sup>(a)</sup> | 3000000 | 3050807 |
| &nbsp;&nbsp; Series 2023-2A, Class D, 7.92%, 06/15/2033 <sup>(a)</sup> | 3500000 | 3537321 |
| Momnt Technologies Trust | Momnt Technologies Trust | Momnt Technologies Trust |
| &nbsp;&nbsp; Series 2023-1A, Class B, 8.29%, 03/20/2045 <sup>(a)</sup> | 100000 | 98039 |
| &nbsp;&nbsp; Series 2023-1A, Class C, 11.24%, 03/20/2045 <sup>(a)</sup> | 100000 | 97408 |
| Oportun Financial Corp. | Oportun Financial Corp. | Oportun Financial Corp. |
| &nbsp;&nbsp; Series 2021-B, Class D, 5.41%, 05/08/2031 <sup>(a)</sup> | 906863 | 889306 |
| &nbsp;&nbsp; Series 2022-3, Class C, 10.15%, 01/08/2030 <sup>(a)</sup> | 30098 | 30142 |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust |
| &nbsp;&nbsp; Series 2021-1, Class C, 4.09%, 11/15/2027 <sup>(a)</sup> | 8805 | 8616 |
| &nbsp;&nbsp; Series 2021-5, Class C, 3.93%, 08/15/2029 <sup>(a)</sup> | 141417 | 137457 |
| &nbsp;&nbsp; Series 2022-1, Class C, 4.89%, 10/15/2029 <sup>(a)</sup> | 2284107 | 2235840 |
| &nbsp;&nbsp; Series 2022-2, Class C, 7.50%, 01/15/2030 <sup>(a)</sup> | 499970 | 494799 |
| &nbsp;&nbsp; Series 2023-8, Class C, 9.54%, 06/16/2031 <sup>(a)</sup> | 621378 | 638497 |
| &nbsp;&nbsp; Series 2024-11, Class E, 10.33%, 07/15/2032 <sup>(a)</sup> | 799908 | 793806 |
| &nbsp;&nbsp; Series 2024-7, Class D, 10.90%, 12/15/2031 <sup>(a)</sup> | 466392 | 481654 |
| &nbsp;&nbsp; Series 2024-9, Class E, 10.11%, 03/15/2032 <sup>(a)</sup> | 599908 | 596249 |
| &nbsp;&nbsp; Series 2025-1, Class E, 10.08%, 07/15/2032 <sup>(a)</sup> | 1000000 | 980630 |
| &nbsp;&nbsp; Series 2025-3, Class D, 6.99%, 12/15/2032 <sup>(a)</sup> | 300000 | 301425 |
| &nbsp;&nbsp; Series 2025-3, Class E, 12.63%, 12/15/2032 <sup>(a)</sup> | 250000 | 251048 |
|  Powerpay Securitization Funding LLC, Series 2024-1A, Class B, 8.46%, 02/18/2039 <sup>(a)</sup> | 300000 | 306980 |
|  Prosper Marketplace Issuance Trust, Series 2024-1A, Class D, 10.98%, 08/15/2029 <sup>(a)</sup> | 500000 | 524887 |
| Purchasing Power Funding | Purchasing Power Funding | Purchasing Power Funding |
| &nbsp;&nbsp; Series 2024-A, Class D, 7.26%, 08/15/2028 <sup>(a)</sup> | 200000 | 203259 |
| &nbsp;&nbsp; Series 2024-A, Class E, 10.18%, 08/15/2028 <sup>(a)</sup> | 200000 | 204247 |
| Reach Financial LLC | Reach Financial LLC | Reach Financial LLC |
| &nbsp;&nbsp; Series 2022-2A, Class C, 8.40%, 05/15/2030 <sup>(a)</sup> | 40361 | 40512 |
| &nbsp;&nbsp; Series 2024-2A, Class D, 8.83%, 07/15/2031 <sup>(a)</sup> | 600000 | 615112 |
| Republic Finance Issuance Trust | Republic Finance Issuance Trust | Republic Finance Issuance Trust |
| &nbsp;&nbsp; Series 2021-A, Class D, 5.23%, 12/22/2031 <sup>(a)</sup> | 200000 | 192585 |
| &nbsp;&nbsp; Series 2024-A, Class C, 7.28%, 08/20/2032 <sup>(a)</sup> | 400000 | 409892 |
| &nbsp;&nbsp; Series 2024-A, Class D, 9.49%, 08/20/2032 <sup>(a)</sup> | 250000 | 256798 |
|  Theorem Funding Trust, Series 2022-2A, Class B, 9.27%, 12/15/2028 <sup>(a)</sup> | 300000 | 305742 |
| Upstart Securitization Trust | Upstart Securitization Trust | Upstart Securitization Trust |
| &nbsp;&nbsp; Series 2021-5, Class C, 4.15%, 11/20/2031 <sup>(a)</sup> | 750605 | 732196 |
| &nbsp;&nbsp; Series 2023-1, Class C, 11.10%, 02/20/2033 <sup>(a)</sup> | 300000 | 306268 |
| &nbsp;&nbsp; Series 2025-1, Class B, 6.33%, 04/20/2035 <sup>(a)</sup> | 2080000 | 2071948 |
|  |  | 28462162 |
| **Credit Card - 0.1%** | **Credit Card - 0.1%** | **Credit Card - 0.1%** |
|  Avant Credit Card Master Trust, Series 2024-1A, Class C, 6.23%, 04/15/2030 <sup>(a)</sup> | 500000 | 501152 |
| **Equipment - 1.6%** | **Equipment - 1.6%** | **Equipment - 1.6%** |
| Octane Receivables Trust | Octane Receivables Trust | Octane Receivables Trust |
| &nbsp;&nbsp; Series 2023-1A, Class E, 9.25%, 08/20/2030 <sup>(a)</sup> | 2000000 | 2061790 |
| &nbsp;&nbsp; Series 2024-1A, Class E, 7.82%, 08/20/2031 <sup>(a)</sup> | 900000 | 894137 |
| &nbsp;&nbsp; Series 2024-2A, Class E, 9.04%, 07/20/2032 <sup>(a)</sup> | 2000000 | 2059902 |
| &nbsp;&nbsp; Series 2024-RVM1, Class D, 6.30%, 01/22/2046 <sup>(a)</sup> | 1500000 | 1499920 |
| &nbsp;&nbsp; Series 2024-RVM1, Class E, 8.42%, 01/22/2046 <sup>(a)</sup> | 500000 | 498911 |
|  |  | 7014660 |
| **Solar - 0.0%<sup>(d)</sup>** | **Solar - 0.0%<sup>(d)</sup>** | **Solar - 0.0%<sup>(d)</sup>** |
| GoodLeap Sustainable Home Solutions Trust | GoodLeap Sustainable Home Solutions Trust | GoodLeap Sustainable Home Solutions Trust |
| &nbsp;&nbsp; Series 2022-3CS, Class A, 4.95%, 07/20/2049 <sup>(a)</sup> | 156320 | 141792 |
| &nbsp;&nbsp; Series 2023-2GS, Class B, 7.80%, 05/20/2055 <sup>(a)</sup> | 100000 | 64777 |
|  |  | 206569 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $84,391,370) | **TOTAL ASSET-BACKED SECURITIES** (Cost $84,391,370) | 84777801 |
| **CORPORATE OBLIGATIONS - 7.9%** | **Par** | **Value** |
| **Basic Materials - 0.7%** | **Basic Materials - 0.7%** | **Basic Materials - 0.7%** |
|  Axalta Coating Systems Dutch Holding B B.V., 7.25%, 02/15/2031 <sup>(a)</sup> | 100000 | 103672 |
|  Barrick International Barbados Corp., 6.35%, 10/15/2036 <sup>(a)</sup> | 100000 | 107087 |
|  Capstone Copper Corp., 6.75%, 03/31/2033 <sup>(a)</sup> | 300000 | 294987 |
| Cleveland-Cliffs, Inc. | Cleveland-Cliffs, Inc. | Cleveland-Cliffs, Inc. |
| &nbsp;&nbsp; 6.75%, 04/15/2030 <sup>(a)</sup> | 100000 | 96419 |
| &nbsp;&nbsp; 7.00%, 03/15/2032 <sup>(a)</sup> | 350000 | 329257 |
| Consolidated Energy Finance SA | Consolidated Energy Finance SA | Consolidated Energy Finance SA |
| &nbsp;&nbsp; 6.50%, 05/15/2026 <sup>(a)</sup> | 100000 | 96499 |
| &nbsp;&nbsp; 12.00%, 02/15/2031 <sup>(a)</sup> | 100000 | 90273 |
|  CVR Partners LP / CVR Nitrogen Finance Corp., 6.13%, 06/15/2028 <sup>(a)</sup> | 200000 | 193496 |
|  First Quantum Minerals Ltd., 8.00%, 03/01/2033 <sup>(a)</sup> | 300000 | 297189 |
|  Freeport-McMoRan, Inc., 5.40%, 11/14/2034 | 100000 | 99806 |
|  Hecla Mining Co., 7.25%, 02/15/2028 | 100000 | 100347 |
|  Magnera Corp., 4.75%, 11/15/2029 <sup>(a)</sup> | 280000 | 244348 |
|  Mercer International, Inc., 5.13%, 02/01/2029 | 100000 | 82386 |
|  Methanex Corp., 5.25%, 12/15/2029 | 100000 | 95094 |
|  Mosaic Co., 5.63%, 11/15/2043 | 100000 | 94731 |
|  NOVA Chemicals Corp., 8.50%, 11/15/2028 <sup>(a)</sup> | 100000 | 105517 |
|  Nucor Corp., 5.10%, 06/01/2035 | 150000 | 147288 |
|  Nutrien Ltd., 2.95%, 05/13/2030 | 150000 | 138552 |
|  Olin Corp., 6.63%, 04/01/2033 <sup>(a)</sup> | 100000 | 95010 |
|  Taseko Mines Ltd., 8.25%, 05/01/2030 <sup>(a)</sup> | 300000 | 303287 |
|  |  | 3115245 |
| **Communications - 0.4%** | **Communications - 0.4%** | **Communications - 0.4%** |
|  AT&T, Inc., 4.90%, 08/15/2037 | 100000 | 94535 |
|  Cars.com, Inc., 6.38%, 11/01/2028 <sup>(a)</sup> | 300000 | 294993 |
|  Comcast Corp., 6.50%, 11/15/2035 | 100000 | 110832 |
| Directv Financing LLC / Directv Financing Co.-Obligor, Inc. | Directv Financing LLC / Directv Financing Co.-Obligor, Inc. | Directv Financing LLC / Directv Financing Co.-Obligor, Inc. |
| &nbsp;&nbsp; 5.88%, 08/15/2027 <sup>(a)</sup> | 100000 | 96739 |
| &nbsp;&nbsp; 10.00%, 02/15/2031 <sup>(a)</sup> | 200000 | 189548 |
|  Gen Digital, Inc., 6.25%, 04/01/2033 <sup>(a)</sup> | 100000 | 99980 |
|  Gray Media, Inc., 5.38%, 11/15/2031 <sup>(a)</sup> | 200000 | 119508 |
|  T-Mobile USA, Inc., 5.05%, 07/15/2033 | 150000 | 149090 |
| Univision Communications, Inc. | Univision Communications, Inc. | Univision Communications, Inc. |
| &nbsp;&nbsp; 6.63%, 06/01/2027 <sup>(a)</sup> | 100000 | 96859 |
| &nbsp;&nbsp; 8.00%, 08/15/2028 <sup>(a)</sup> | 200000 | 194460 |
|  Verizon Communications, Inc., 4.27%, 01/15/2036 | 200000 | 183605 |
|  |  | 1630149 |
| **Consumer, Cyclical - 0.8%** | **Consumer, Cyclical - 0.8%** | **Consumer, Cyclical - 0.8%** |
|  Adient Global Holdings Ltd., 7.50%, 02/15/2033 <sup>(a)</sup> | 100000 | 94840 |
|  American Axle & Manufacturing, Inc., 5.00%, 10/01/2029 | 100000 | 87847 |
|  BorgWarner, Inc., 5.40%, 08/15/2034 | 100000 | 98989 |
| Caesars Entertainment, Inc. | Caesars Entertainment, Inc. | Caesars Entertainment, Inc. |
| &nbsp;&nbsp; 4.63%, 10/15/2029 <sup>(a)</sup> | 270000 | 249526 |
| &nbsp;&nbsp; 6.50%, 02/15/2032 <sup>(a)</sup> | 100000 | 100610 |
| Carnival Corp. | Carnival Corp. | Carnival Corp. |
| &nbsp;&nbsp; 6.00%, 05/01/2029 <sup>(a)</sup> | 100000 | 99518 |
| &nbsp;&nbsp; 6.13%, 02/15/2033 <sup>(a)</sup> | 100000 | 99217 |
|  Champ Acquisition Corp., 8.38%, 12/01/2031 <sup>(a)</sup> | 300000 | 316793 |
|  Cinemark USA, Inc., 7.00%, 08/01/2032 <sup>(a)</sup> | 200000 | 204706 |
|  Clarios Global LP / Clarios US Finance Co., 6.75%, 02/15/2030 <sup>(a)</sup> | 300000 | 305490 |
|  Ford Motor Credit Co. LLC, 6.13%, 03/08/2034 | 100000 | 94697 |
|  General Motors Financial Co., Inc., 6.10%, 01/07/2034 | 100000 | 100539 |
|  LCM Investments Holdings LLC, 8.25%, 08/01/2031 <sup>(a)</sup> | 100000 | 104691 |
|  Lithia Motors, Inc., 3.88%, 06/01/2029 <sup>(a)</sup> | 200000 | 185929 |
|  Lowe's Cos., Inc., 5.15%, 07/01/2033 | 150000 | 150759 |
|  Meritage Homes Corp., 5.65%, 03/15/2035 | 150000 | 146468 |
|  NCL Corp. Ltd., 6.25%, 03/01/2030 <sup>(a)</sup> | 200000 | 195273 |
|  O'Reilly Automotive, Inc., 4.70%, 06/15/2032 | 150000 | 147132 |
| Phinia, Inc. | Phinia, Inc. | Phinia, Inc. |
| &nbsp;&nbsp; 6.75%, 04/15/2029 <sup>(a)</sup> | 100000 | 101192 |
| &nbsp;&nbsp; 6.63%, 10/15/2032 <sup>(a)</sup> | 100000 | 98239 |
|  PulteGroup, Inc., 6.38%, 05/15/2033 | 100000 | 105623 |
|  Resideo Funding, Inc., 6.50%, 07/15/2032 <sup>(a)</sup> | 125000 | 124155 |
|  Saks Global Enterprises LLC, 11.00%, 12/15/2029 <sup>(a)</sup> | 50000 | 30383 |
|  Sally Holdings LLC / Sally Capital, Inc., 6.75%, 03/01/2032 | 150000 | 151287 |
|  STL Holding Co. LLC, 8.75%, 02/15/2029 <sup>(a)</sup> | 100000 | 101676 |
|  |  | 3495579 |
| **Consumer, Non-cyclical - 1.6%** | **Consumer, Non-cyclical - 1.6%** | **Consumer, Non-cyclical - 1.6%** |
|  Acadia Healthcare Co., Inc., 7.38%, 03/15/2033 <sup>(a)</sup> | 600000 | 600228 |
|  Agilent Technologies, Inc., 4.75%, 09/09/2034 | 150000 | 144358 |
|  Amgen, Inc., 5.25%, 03/02/2033 | 150000 | 151628 |
|  Ashtead Capital, Inc., 5.95%, 10/15/2033 <sup>(a)</sup> | 200000 | 202454 |
|  B&G Foods, Inc., 8.00%, 09/15/2028 <sup>(a)</sup> | 50000 | 49669 |
|  Baxter International, Inc., 2.54%, 02/01/2032 | 150000 | 128245 |
|  Belron UK Finance PLC, 5.75%, 10/15/2029 <sup>(a)</sup> | 100000 | 99972 |
|  Bio-Rad Laboratories, Inc., 3.70%, 03/15/2032 | 100000 | 90404 |
|  Brown-Forman Corp., 4.00%, 04/15/2038 | 100000 | 87979 |
|  Bunge Ltd. Finance Corp., 2.75%, 05/14/2031 | 200000 | 179116 |
|  Conagra Brands, Inc., 5.30%, 11/01/2038 | 100000 | 94708 |
|  Concentra Escrow Issuer Corp., 6.88%, 07/15/2032 <sup>(a)</sup> | 100000 | 102505 |
|  Constellation Brands, Inc., 4.90%, 05/01/2033 | 150000 | 146465 |
|  DaVita, Inc., 6.88%, 09/01/2032 <sup>(a)</sup> | 250000 | 252600 |
|  Dcli Bidco LLC, 7.75%, 11/15/2029 <sup>(a)</sup> | 100000 | 93263 |
| EquipmentShare.com, Inc. | EquipmentShare.com, Inc. | EquipmentShare.com, Inc. |
| &nbsp;&nbsp; 9.00%, 05/15/2028 <sup>(a)</sup> | 300000 | 305716 |
| &nbsp;&nbsp; 8.63%, 05/15/2032 <sup>(a)</sup> | 100000 | 102218 |
|  Fiesta Purchaser, Inc., 9.63%, 09/15/2032 <sup>(a)</sup> | 200000 | 209626 |
|  GE HealthCare Technologies, Inc., 5.91%, 11/22/2032 | 100000 | 104993 |
|  Global Payments, Inc., 5.40%, 08/15/2032 | 100000 | 99507 |
|  HCA, Inc., 5.45%, 09/15/2034 | 100000 | 99274 |
|  Herc Holdings, Inc., 6.63%, 06/15/2029 <sup>(a)</sup> | 500000 | 494533 |
|  Hertz Global Holdings, Inc., 12.63%, 07/15/2029 <sup>(a)</sup> | 50000 | 48681 |
|  J.M. Smucker Co., 6.20%, 11/15/2033 | 200000 | 213459 |
|  JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co. Sarl, 6.75%, 03/15/2034 | 143000 | 155141 |
|  Keurig Dr Pepper, Inc., 5.30%, 03/15/2034 | 200000 | 203212 |
|  Kraft Heinz Foods Co., 6.88%, 01/26/2039 | 100000 | 110796 |
|  Kroger Co., 5.00%, 09/15/2034 | 100000 | 98053 |
|  Mars, Inc., 5.20%, 03/01/2035 <sup>(a)</sup> | 200000 | 200870 |
|  Medline Borrower LP, 5.25%, 10/01/2029 <sup>(a)</sup> | 100000 | 95062 |
|  Molina Healthcare, Inc., 6.25%, 01/15/2033 <sup>(a)</sup> | 100000 | 99314 |
|  Molson Coors Beverage Co., 4.20%, 07/15/2046 | 100000 | 79911 |
|  Performance Food Group, Inc., 4.25%, 08/01/2029 <sup>(a)</sup> | 150000 | 142176 |
|  Perrigo Finance Unlimited Co., 6.13%, 09/30/2032 | 200000 | 198660 |
|  Philip Morris International, Inc., 5.25%, 02/13/2034 | 100000 | 101055 |
|  Post Holdings, Inc., 6.38%, 03/01/2033 <sup>(a)</sup> | 100000 | 99126 |
|  Raven Acquisition Holdings LLC, 6.88%, 11/15/2031 <sup>(a)</sup> | 300000 | 293354 |
|  Royalty Pharma PLC, 3.30%, 09/02/2040 | 100000 | 73516 |
|  Simmons Foods, Inc., 4.63%, 03/01/2029 <sup>(a)</sup> | 100000 | 93042 |
|  The Campbell's Co., 5.40%, 03/21/2034 | 100000 | 100872 |
|  TreeHouse Foods, Inc., 4.00%, 09/01/2028 | 100000 | 89827 |
|  Tyson Foods, Inc., 4.88%, 08/15/2034 | 100000 | 96448 |
|  United Rentals North America, Inc., 6.00%, 12/15/2029 <sup>(a)</sup> | 150000 | 152055 |
|  US Foods, Inc., 7.25%, 01/15/2032 <sup>(a)</sup> | 100000 | 104736 |
|  VT Topco, Inc., 8.50%, 08/15/2030 <sup>(a)</sup> | 360000 | 377095 |
|  Williams Scotsman, Inc., 6.63%, 04/15/2030 <sup>(a)</sup> | 200000 | 203831 |
|  Zimmer Biomet Holdings, Inc., 2.60%, 11/24/2031 | 200000 | 175361 |
|  |  | 7445114 |
| **Diversified - 0.1%** | **Diversified - 0.1%** | **Diversified - 0.1%** |
|  Stena International SA, 7.25%, 01/15/2031 <sup>(a)</sup> | 300000 | 296423 |
| **Energy - 1.0%** | **Energy - 1.0%** | **Energy - 1.0%** |
|  Alliance Resource Operating Partners LP / Alliance Resource Finance Corp., 8.63%, 06/15/2029 <sup>(a)</sup> | 200000 | 206663 |
|  Antero Midstream Partners LP / Antero Midstream Finance Corp., 6.63%, 02/01/2032 <sup>(a)</sup> | 200000 | 202285 |
| Archrock Partners LP / Archrock Partners Finance Corp. | Archrock Partners LP / Archrock Partners Finance Corp. | Archrock Partners LP / Archrock Partners Finance Corp. |
| &nbsp;&nbsp; 6.88%, 04/01/2027 <sup>(a)</sup> | 36000 | 35984 |
| &nbsp;&nbsp; 6.63%, 09/01/2032 <sup>(a)</sup> | 100000 | 99544 |
|  Aris Water Holdings LLC, 7.25%, 04/01/2030 <sup>(a)</sup> | 100000 | 99327 |
|  Calumet Specialty Products Partners LP / Calumet Finance Corp., 9.75%, 07/15/2028 <sup>(a)</sup> | 100000 | 89594 |
|  Cheniere Corpus Christi Holdings LLC, 2.74%, 12/31/2039 | 150000 | 118548 |
|  Cheniere Energy Partners LP, 5.75%, 08/15/2034 | 100000 | 100339 |
|  Comstock Resources, Inc., 5.88%, 01/15/2030 <sup>(a)</sup> | 50000 | 45330 |
|  Continental Resources, Inc., 5.75%, 01/15/2031 <sup>(a)</sup> | 100000 | 98508 |
| Encino Acquisition Partners Holdings LLC | Encino Acquisition Partners Holdings LLC | Encino Acquisition Partners Holdings LLC |
| &nbsp;&nbsp; 8.50%, 05/01/2028 <sup>(a)</sup> | 100000 | 100161 |
| &nbsp;&nbsp; 8.75%, 05/01/2031 <sup>(a)</sup> | 100000 | 101951 |
|  Energy Transfer LP, 7.38%, 02/01/2031 <sup>(a)</sup> | 100000 | 104706 |
|  EnLink Midstream Partners LP, 6.05%, 09/01/2033 | 100000 | 102648 |
| Genesis Energy LP / Genesis Energy Finance Corp. | Genesis Energy LP / Genesis Energy Finance Corp. | Genesis Energy LP / Genesis Energy Finance Corp. |
| &nbsp;&nbsp; 8.25%, 01/15/2029 | 50000 | 50864 |
| &nbsp;&nbsp; 8.00%, 05/15/2033 | 150000 | 145701 |
|  Greenfire Resources Ltd., 12.00%, 10/01/2028 <sup>(a)</sup> | 40000 | 42255 |
|  Helix Energy Solutions Group, Inc., 9.75%, 03/01/2029 <sup>(a)</sup> | 200000 | 202694 |
|  Hess Corp., 7.13%, 03/15/2033 | 100000 | 112386 |
|  Kinder Morgan, Inc., 5.95%, 08/01/2054 | 100000 | 94635 |
|  Kinetik Holdings LP, 5.88%, 06/15/2030 <sup>(a)</sup> | 100000 | 97808 |
|  Moss Creek Resources Holdings, Inc., 8.25%, 09/01/2031 <sup>(a)</sup> | 200000 | 184075 |
|  MPLX LP, 5.00%, 03/01/2033 | 100000 | 96676 |
|  New Fortress Energy, Inc., 6.50%, 09/30/2026 <sup>(a)</sup> | 200000 | 164036 |
|  PBF Holding Co. LLC / PBF Finance Corp., 6.00%, 02/15/2028 | 200000 | 176717 |
|  Plains All American Pipeline LP / PAA Finance Corp., 5.70%, 09/15/2034 | 150000 | 148445 |
|  Shelf Drilling Holdings Ltd., 9.63%, 04/15/2029 <sup>(a)</sup> | 300000 | 212656 |
|  SunCoke Energy, Inc., 4.88%, 06/30/2029 <sup>(a)</sup> | 300000 | 275924 |
|  Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 12/31/2030 <sup>(a)</sup> | 100000 | 93216 |
|  Targa Resources Corp., 6.50%, 03/30/2034 | 100000 | 105147 |
|  USA Compression Partners LP / USA Compression Finance Corp., 7.13%, 03/15/2029 <sup>(a)</sup> | 100000 | 101067 |
| Venture Global LNG, Inc. | Venture Global LNG, Inc. | Venture Global LNG, Inc. |
| &nbsp;&nbsp; 9.00% to 09/30/2029 then 5 yr. CMT Rate + 5.44%, Perpetual <sup>(a)</sup> | 35000 | 30116 |
| &nbsp;&nbsp; 8.38%, 06/01/2031 <sup>(a)</sup> | 100000 | 96529 |
|  Warrior Met Coal, Inc., 7.88%, 12/01/2028 <sup>(a)</sup> | 108000 | 109071 |
|  Western Midstream Operating LP, 6.15%, 04/01/2033 | 150000 | 151616 |
|  Wildfire Intermediate Holdings LLC, 7.50%, 10/15/2029 <sup>(a)</sup> | 100000 | 91750 |
|  Williams Cos., Inc., 5.65%, 03/15/2033 | 100000 | 102305 |
|  |  | 4391277 |
| **Financial - 1.9%** | **Financial - 1.9%** | **Financial - 1.9%** |
|  AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.00%, 10/29/2028 | 150000 | 141717 |
|  Aircastle Ltd. / Aircastle Ireland DAC, 5.25%, 03/15/2030 <sup>(a)</sup> | 150000 | 148796 |
|  American Express Co., 5.28% to 07/26/2034 then SOFR + 1.42%, 07/26/2035 | 200000 | 199491 |
|  American Tower Corp., 5.55%, 07/15/2033 | 150000 | 153617 |
|  Avolon Holdings Funding Ltd., 5.75%, 11/15/2029 <sup>(a)</sup> | 100000 | 101300 |
|  Bank of America Corp., 2.48% to 09/21/2031 then 5 yr. CMT Rate + 1.20%, 09/21/2036 | 250000 | 208688 |
|  Blackstone Mortgage Trust, Inc., 7.75%, 12/01/2029 <sup>(a)</sup> | 100000 | 103967 |
|  Capital One Financial Corp., 5.82% to 02/01/2033 then SOFR + 2.60%, 02/01/2034 | 200000 | 201886 |
|  Credit Acceptance Corp., 6.63%, 03/15/2030 <sup>(a)</sup> | 300000 | 294926 |
|  Crown Castle, Inc., 5.10%, 05/01/2033 | 100000 | 97847 |
|  Enact Holdings, Inc., 6.25%, 05/28/2029 | 100000 | 102454 |
|  EZCORP, Inc., 7.38%, 04/01/2032 <sup>(a)</sup> | 275000 | 288582 |
|  Fifth Third Bancorp, 5.63% to 01/29/2031 then SOFR + 1.84%, 01/29/2032 | 200000 | 204952 |
| Freedom Mortgage Holdings LLC | Freedom Mortgage Holdings LLC | Freedom Mortgage Holdings LLC |
| &nbsp;&nbsp; 9.25%, 02/01/2029 <sup>(a)</sup> | 100000 | 101957 |
| &nbsp;&nbsp; 8.38%, 04/01/2032 <sup>(a)</sup> | 100000 | 97902 |
| GGAM Finance Ltd. | GGAM Finance Ltd. | GGAM Finance Ltd. |
| &nbsp;&nbsp; 8.00%, 02/15/2027 <sup>(a)</sup> | 100000 | 102755 |
| &nbsp;&nbsp; 6.88%, 04/15/2029 <sup>(a)</sup> | 100000 | 102371 |
|  Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/2027 <sup>(a)</sup> | 300000 | 299288 |
|  goeasy Ltd., 7.63%, 07/01/2029 <sup>(a)</sup> | 300000 | 302734 |
|  Goldman Sachs Group, Inc., 3.10% to 02/24/2032 then SOFR + 1.41%, 02/24/2033 | 200000 | 176444 |
|  HA Sustainable Infrastructure Capital, Inc., 6.38%, 07/01/2034 <sup>(a)</sup> | 100000 | 96121 |
|  HAT Holdings I LLC / HAT Holdings II LLC, 3.75%, 09/15/2030 <sup>(a)</sup> | 100000 | 87960 |
|  Jane Street Group / JSG Finance, Inc., 6.13%, 11/01/2032 <sup>(a)</sup> | 100000 | 98377 |
|  Jefferies Finance LLC / JFIN Co.-Issuer Corp., 6.63%, 10/15/2031 <sup>(a)</sup> | 250000 | 245182 |
|  Jefferson Capital Holdings LLC, 9.50%, 02/15/2029 <sup>(a)</sup> | 120000 | 125902 |
|  JPMorgan Chase & Co., 6.25% to 10/23/2033 then SOFR + 1.81%, 10/23/2034 | 300000 | 322312 |
|  LPL Holdings, Inc., 4.00%, 03/15/2029 <sup>(a)</sup> | 200000 | 192610 |
|  M&T Bank Corp., 5.05% to 01/27/2033 then SOFR + 1.85%, 01/27/2034 | 200000 | 192576 |
| Macquarie Airfinance Holdings Ltd. | Macquarie Airfinance Holdings Ltd. | Macquarie Airfinance Holdings Ltd. |
| &nbsp;&nbsp; 8.13%, 03/30/2029 <sup>(a)</sup> | 100000 | 104664 |
| &nbsp;&nbsp; 6.50%, 03/26/2031 <sup>(a)</sup> | 100000 | 102804 |
|  Morgan Stanley, 5.95% to 01/19/2033 then 5 yr. CMT Rate + 2.43%, 01/19/2038 | 300000 | 302530 |
|  Nationstar Mortgage Holdings, Inc., 7.13%, 02/01/2032 <sup>(a)</sup> | 200000 | 207679 |
|  NMI Holdings, Inc., 6.00%, 08/15/2029 | 100000 | 101271 |
| OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. |
| &nbsp;&nbsp; 5.38%, 11/15/2029 | 100000 | 95719 |
| &nbsp;&nbsp; 4.00%, 09/15/2030 | 300000 | 266352 |
|  Panther Escrow Issuer LLC, 7.13%, 06/01/2031 <sup>(a)</sup> | 200000 | 205068 |
|  PennyMac Financial Services, Inc., 5.75%, 09/15/2031 <sup>(a)</sup> | 125000 | 119182 |
|  PHH Corp., 9.88%, 11/01/2029 <sup>(a)</sup> | 200000 | 193670 |
|  PNC Financial Services Group, Inc., 5.68% to 01/22/2034 then SOFR + 1.90%, 01/22/2035 | 300000 | 305876 |
|  PRA Group, Inc., 5.00%, 10/01/2029 <sup>(a)</sup> | 100000 | 91207 |
|  Radian Group, Inc., 6.20%, 05/15/2029 | 250000 | 258246 |
|  RHP Hotel Properties LP / RHP Finance Corp., 6.50%, 04/01/2032 <sup>(a)</sup> | 100000 | 99766 |
|  Starwood Property Trust, Inc., 6.00%, 04/15/2030 <sup>(a)</sup> | 150000 | 148411 |
|  StoneX Group, Inc., 7.88%, 03/01/2031 <sup>(a)</sup> | 200000 | 208414 |
|  UBS Group AG, 5.70% to 02/08/2034 then 1 yr. CMT Rate + 1.77%, 02/08/2035 <sup>(a)</sup> | 200000 | 204763 |
|  United Wholesale Mortgage LLC, 5.50%, 04/15/2029 <sup>(a)</sup> | 100000 | 96945 |
|  Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC, 6.50%, 02/15/2029 <sup>(a)</sup> | 200000 | 183215 |
|  Walker & Dunlop, Inc., 6.63%, 04/01/2033 <sup>(a)</sup> | 100000 | 101813 |
|  Wells Fargo & Co., 5.56% to 07/25/2033 then SOFR + 1.99%, 07/25/2034 | 300000 | 304193 |
|  |  | 8494502 |
| **Industrial - 1.1%** | **Industrial - 1.1%** | **Industrial - 1.1%** |
|  Advanced Drainage Systems, Inc., 6.38%, 06/15/2030 <sup>(a)</sup> | 100000 | 101642 |
|  Amphenol Corp., 5.25%, 04/05/2034 | 150000 | 153576 |
|  Arrow Electronics, Inc., 5.88%, 04/10/2034 | 100000 | 100617 |
|  Axon Enterprise, Inc., 6.25%, 03/15/2033 <sup>(a)</sup> | 200000 | 204345 |
|  Brundage-Bone Concrete Pumping Holdings, Inc., 7.50%, 02/01/2032 <sup>(a)</sup> | 300000 | 293053 |
|  Builders FirstSource, Inc., 6.38%, 03/01/2034 <sup>(a)</sup> | 100000 | 99378 |
|  Burlington Northern Santa Fe LLC, 4.13%, 06/15/2047 | 100000 | 81468 |
|  Clydesdale Acquisition Holdings, Inc., 6.75%, 04/15/2032 <sup>(a)</sup> | 200000 | 204663 |
|  Coherent Corp., 5.00%, 12/15/2029 <sup>(a)</sup> | 300000 | 287627 |
|  CRH America Finance, Inc., 5.40%, 05/21/2034 | 200000 | 202803 |
|  CSX Corp., 6.15%, 05/01/2037 | 100000 | 107351 |
| Fortress Transportation and Infrastructure Investors LLC | Fortress Transportation and Infrastructure Investors LLC | Fortress Transportation and Infrastructure Investors LLC |
| &nbsp;&nbsp; 7.88%, 12/01/2030 <sup>(a)</sup> | 100000 | 104642 |
| &nbsp;&nbsp; 5.88%, 04/15/2033 <sup>(a)</sup> | 200000 | 191581 |
|  GATX Corp., 5.50%, 06/15/2035 | 150000 | 148823 |
|  Genesee & Wyoming, Inc., 6.25%, 04/15/2032 <sup>(a)</sup> | 100000 | 101445 |
|  Great Lakes Dredge & Dock Corp., 5.25%, 06/01/2029 <sup>(a)</sup> | 175000 | 159939 |
|  Knife River Corp., 7.75%, 05/01/2031 <sup>(a)</sup> | 100000 | 104705 |
|  MasTec, Inc., 4.50%, 08/15/2028 <sup>(a)</sup> | 150000 | 146068 |
|  Northrop Grumman Corp., 5.20%, 06/01/2054 | 100000 | 92208 |
|  Owens-Brockway Glass Container, Inc., 7.25%, 05/15/2031 <sup>(a)</sup> | 350000 | 348004 |
|  Quikrete Holdings, Inc., 6.75%, 03/01/2033 <sup>(a)</sup> | 200000 | 200923 |
|  Reworld Holding Corp., 4.88%, 12/01/2029 <sup>(a)</sup> | 200000 | 187084 |
|  RTX Corp., 6.10%, 03/15/2034 | 150000 | 161315 |
|  Sealed Air Corp., 6.50%, 07/15/2032 <sup>(a)</sup> | 150000 | 152686 |
|  Seaspan Corp., 5.50%, 08/01/2029 <sup>(a)</sup> | 100000 | 91382 |
|  Sensata Technologies, Inc., 3.75%, 02/15/2031 <sup>(a)</sup> | 200000 | 175117 |
|  Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/2028 <sup>(a)</sup> | 300000 | 293458 |
|  Standard Building Solutions, Inc., 6.50%, 08/15/2032 <sup>(a)</sup> | 200000 | 202669 |
|  United Parcel Service, Inc., 5.50%, 05/22/2054 | 100000 | 95415 |
|  Waste Management, Inc., 4.88%, 02/15/2034 | 150000 | 150746 |
|  XPO, Inc., 7.13%, 06/01/2031 <sup>(a)</sup> | 100000 | 102468 |
|  |  | 5047201 |
| **Technology - 0.2%** | **Technology - 0.2%** | **Technology - 0.2%** |
|  CDW LLC / CDW Finance Corp., 5.55%, 08/22/2034 | 100000 | 98172 |
|  Fiserv, Inc., 5.63%, 08/21/2033 | 150000 | 152877 |
|  IBM International Capital Pte Ltd., 4.90%, 02/05/2034 | 100000 | 98344 |
|  MSCI, Inc., 3.25%, 08/15/2033 <sup>(a)</sup> | 100000 | 85657 |
|  Oracle Corp., 3.90%, 05/15/2035 | 150000 | 133042 |
|  Roper Technologies, Inc., 1.75%, 02/15/2031 | 150000 | 126823 |
|  VMware LLC, 2.20%, 08/15/2031 | 150000 | 127601 |
|  Zebra Technologies Corp., 6.50%, 06/01/2032 <sup>(a)</sup> | 100000 | 100563 |
|  |  | 923079 |
| **Utilities - 0.1%** | **Utilities - 0.1%** | **Utilities - 0.1%** |
|  NRG Energy, Inc., 6.25%, 11/01/2034 <sup>(a)</sup> | 100000 | 99923 |
|  Pike Corp., 8.63%, 01/31/2031 <sup>(a)</sup> | 50000 | 52517 |
| Vistra Operations Co. LLC | Vistra Operations Co. LLC | Vistra Operations Co. LLC |
| &nbsp;&nbsp; 7.75%, 10/15/2031 <sup>(a)</sup> | 50000 | 52902 |
| &nbsp;&nbsp; 6.88%, 04/15/2032 <sup>(a)</sup> | 200000 | 207319 |
| &nbsp;&nbsp; 6.00%, 04/15/2034 <sup>(a)</sup> | 100000 | 101102 |
|  |  | 513763 |
| **TOTAL CORPORATE OBLIGATIONS** (Cost $35,302,475) | **TOTAL CORPORATE OBLIGATIONS** (Cost $35,302,475) | 35352332 |
| **COLLATERALIZED LOAN OBLIGATIONS - 7.7%** | **Par** | **Value** |
| Anchorage Credit Funding Ltd. | Anchorage Credit Funding Ltd. | Anchorage Credit Funding Ltd. |
| &nbsp;&nbsp; Series 2016-3A, Class A2R, 6.64% (3 mo. Term SOFR + 2.36%), 01/28/2039 <sup>(a)</sup> | 1275000 | 1275644 |
| &nbsp;&nbsp; Series 2019-9A, Class BR, 3.05%, 10/25/2037 <sup>(a)</sup> | 1000000 | 924941 |
|  Apidos CLO Ltd., Series 2023-46A, Class E, 12.23% (3 mo. Term SOFR + 7.95%), 10/24/2036 <sup>(a)</sup> | 1000000 | 1007237 |
|  Babson CLO Ltd., Series 2023-1A, Class E, 12.27% (3 mo. Term SOFR + 8.00%), 04/20/2036 <sup>(a)</sup> | 1000000 | 1005474 |
|  Benefit Street Partners CLO Ltd., Series 2015-8A, Class CR, 7.28% (3 mo. Term SOFR + 3.01%), 01/20/2031 <sup>(a)</sup> | 1550000 | 1541771 |
|  Blackstone, Inc., Series 2018-1A, Class C, 6.29% (3 mo. Term SOFR + 2.01%), 04/17/2030 <sup>(a)</sup> | 1750000 | 1742685 |
|  Carbone CLO LLC, Series 2017-1A, Class C, 7.13% (3 mo. Term SOFR + 2.86%), 01/20/2031 <sup>(a)</sup> | 2000000 | 1998792 |
| Carlyle Global Market Strategies | Carlyle Global Market Strategies | Carlyle Global Market Strategies |
| &nbsp;&nbsp; Series 2023-2A, Class E, 12.44% (3 mo. Term SOFR + 8.17%), 07/20/2036 <sup>(a)</sup> | 1000000 | 1005536 |
| &nbsp;&nbsp; Series C17A, Class CR, 7.34% (3 mo. Term SOFR + 3.06%), 04/30/2031 <sup>(a)</sup> | 1000000 | 999417 |
| Cerberus Loan Funding LP | Cerberus Loan Funding LP | Cerberus Loan Funding LP |
| &nbsp;&nbsp; Series 2023-1A, Class C, 8.66% (3 mo. Term SOFR + 4.40%), 03/22/2035 <sup>(a)</sup> | 1500000 | 1507951 |
| &nbsp;&nbsp; Series 2023-2A, Class D2, 0.00% (3 mo. Term SOFR + 8.50%), 07/15/2035 <sup>(a)</sup> | 1900000 | 1928500 |
|  Fortress Credit Opportunities, Series 2025-29A, Class D, 7.82% (3 mo. Term SOFR + 3.50%), 04/20/2033 <sup>(a)</sup> | 2500000 | 2490625 |
|  Golub Capital Partners CLO Ltd., Series 2023-69A, Class C, 8.30% (3 mo. Term SOFR + 4.00%), 11/09/2036 <sup>(a)</sup> | 3000000 | 3013737 |
|  KKR CLO Trust, Series 2023-52A, Class E, 13.07% (3 mo. Term SOFR + 8.81%), 07/16/2036 <sup>(a)</sup> | 2500000 | 2511255 |
|  Oaktree CLO Ltd., Series 2023-2A, Class D, 9.72% (3 mo. Term SOFR + 5.45%), 07/20/2036 <sup>(a)</sup> | 1000000 | 1003664 |
|  OCP CLO Ltd., Series 2023-28A, Class E, 12.66% (3 mo. Term SOFR + 8.40%), 07/16/2036 <sup>(a)</sup> | 1000000 | 1005683 |
|  Park Blue CLO Ltd., Series 2023-3A, Class E, 12.07% (3 mo. Term SOFR + 7.80%), 04/20/2036 <sup>(a)</sup> | 1000000 | 1006659 |
|  Pikes Peak CLO Ltd., Series 2023-14A, Class E, 12.85% (3 mo. Term SOFR + 8.58%), 04/20/2036 <sup>(a)</sup> | 400000 | 403582 |
|  Romark CLO Ltd., Series 2018-1A, Class B1, 6.08% (3 mo. Term SOFR + 1.81%), 04/20/2031 <sup>(a)</sup> | 2255000 | 2252774 |
|  Sycamore Tree CLO Ltd., Series 2024-5A, Class E, 11.76% (3 mo. Term SOFR + 7.49%), 04/20/2036 <sup>(a)</sup> | 2000000 | 1999164 |
|  Symphony CLO Ltd., Series 2022-34A, Class ER, 12.43% (3 mo. Term SOFR + 8.15%), 07/24/2036 <sup>(a)</sup> | 1250000 | 1255623 |
|  Verdelite Static CLO Ltd., Series 2024-1A, Class D, 7.12% (3 mo. Term SOFR + 2.85%), 07/20/2032 <sup>(a)</sup> | 2500000 | 2493568 |
|  Voya CLO Ltd., Series 2018-1A, Class C, 7.13% (3 mo. Term SOFR + 2.86%), 04/19/2031 <sup>(a)</sup> | 250000 | 246058 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $34,927,962) | **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $34,927,962) | 34620340 |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES - 4.1%** | **Par** | **Value** |
|  AREIT CRE Ltd., Series 2024-CRE9, Class AS, 6.56% (1 mo. Term SOFR + 2.24%), 05/17/2041 <sup>(a)</sup> | 800000 | 793890 |
|  ARES Commercial Mortgage Trust, Series 2024-IND, Class D, 7.21% (1 mo. Term SOFR + 2.89%), 07/15/2041 <sup>(a)</sup> | 500000 | 500147 |
|  ARZ Trust, Series 2024-BILT, Class D, 7.00%, 06/11/2029 <sup>(a)</sup> | 250000 | 258146 |
| Banc of America Re-Remic Trust | Banc of America Re-Remic Trust | Banc of America Re-Remic Trust |
| &nbsp;&nbsp; Series 2024-NASH, Class A, 6.32% (1 mo. Term SOFR + 2.00%), 05/15/2039 <sup>(a)</sup> | 600000 | 596039 |
| &nbsp;&nbsp; Series 2024-NASH, Class C, 7.82% (1 mo. Term SOFR + 3.50%), 05/15/2039 <sup>(a)</sup> | 200000 | 198488 |
| &nbsp;&nbsp; Series 2024-NASH, Class D, 9.17% (1 mo. Term SOFR + 4.85%), 05/15/2039 <sup>(a)</sup> | 100000 | 99236 |
| &nbsp;&nbsp; Series 2025-ASHF, Class C, 7.32% (1 mo. Term SOFR + 3.00%), 02/15/2042 <sup>(a)</sup> | 750000 | 753737 |
| BX Trust | BX Trust | BX Trust |
| &nbsp;&nbsp; Series 2024-AIRC, Class C, 6.91% (1 mo. Term SOFR + 2.59%), 08/15/2039 <sup>(a)</sup> | 291216 | 292926 |
| &nbsp;&nbsp; Series 2024-BIO, Class C, 6.96% (1 mo. Term SOFR + 2.64%), 02/15/2041 <sup>(a)</sup> | 200000 | 198622 |
| &nbsp;&nbsp; Series 2024-BIO, Class D, 7.96% (1 mo. Term SOFR + 3.64%), 02/15/2041 <sup>(a)</sup> | 200000 | 198584 |
| &nbsp;&nbsp; Series 2024-KING, Class D, 6.81% (1 mo. Term SOFR + 2.49%), 05/15/2034 <sup>(a)</sup> | 493503 | 495785 |
| &nbsp;&nbsp; Series 2024-PALM, Class D, 6.96% (1 mo. Term SOFR + 2.64%), 06/15/2037 <sup>(a)</sup> | 259615 | 259699 |
| &nbsp;&nbsp; Series 2024-VLT4, Class E, 7.21% (1 mo. Term SOFR + 2.89%), 07/15/2029 <sup>(a)</sup> | 200000 | 195521 |
| &nbsp;&nbsp; Series 2024-VLT4, Class F, 8.26% (1 mo. Term SOFR + 3.94%), 07/15/2029 <sup>(a)</sup> | 500000 | 501031 |
| &nbsp;&nbsp; Series 2025-BIO3, Class D, 7.19%, 02/10/2042 <sup>(a)(b)</sup> | 750000 | 744261 |
|  Commercial Mortgage Pass Through Certificates, Series 2024-WCL1, Class C, 7.21% (1 mo. Term SOFR + 2.89%), 06/15/2041 <sup>(a)</sup> | 1500000 | 1495066 |
| Computershare Corporate Trust | Computershare Corporate Trust | Computershare Corporate Trust |
| &nbsp;&nbsp; Series 2024-1CHI, Class D, 6.93%, 07/15/2035 <sup>(a)(b)</sup> | 300000 | 302707 |
| &nbsp;&nbsp; Series 2024-1CHI, Class E, 7.83%, 07/15/2035 <sup>(a)(b)</sup> | 200000 | 201732 |
|  DBSG Mortgage Trust, Series 2024-ALTA, Class D, 7.30%, 06/10/2037 <sup>(a)(b)</sup> | 400000 | 408717 |
| DC Commercial Mortgage Trust | DC Commercial Mortgage Trust | DC Commercial Mortgage Trust |
| &nbsp;&nbsp; Series 2024-HLTN, Class C, 7.29%, 04/13/2040 <sup>(a)(b)</sup> | 500000 | 509685 |
| &nbsp;&nbsp; Series 2024-HLTN, Class D, 7.98%, 04/13/2040 <sup>(a)(b)</sup> | 300000 | 309665 |
|  Gaea Mortgage Loan Trust, Series 2025-A, Class A, 6.75%, 02/25/2030 <sup>(a)(b)</sup> | 2901568 | 2909605 |
| Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
| &nbsp;&nbsp; Series 2024-ORL, Class C, 6.76% (1 mo. Term SOFR + 2.44%), 05/15/2037 <sup>(a)</sup> | 200000 | 200713 |
| &nbsp;&nbsp; Series 2024-ORL, Class D, 7.51% (1 mo. Term SOFR + 3.19%), 05/15/2037 <sup>(a)</sup> | 200000 | 201054 |
|  HLTN Commercial Mortgage Trust, Series 2024-DPLO, Class D, 7.66% (1 mo. Term SOFR + 3.34%), 06/15/2041 <sup>(a)</sup> | 300000 | 292512 |
| HTL Commercial Mortgage Trust | HTL Commercial Mortgage Trust | HTL Commercial Mortgage Trust |
| &nbsp;&nbsp; Series 2024-T53, Class D, 8.47%, 05/10/2039 <sup>(a)(b)</sup> | 300000 | 309642 |
| &nbsp;&nbsp; Series 2024-T53, Class F, 12.32%, 05/10/2039 <sup>(a)(b)</sup> | 100000 | 103476 |
|  ICNQ 2024-MF Mortgage Trust, Series 2024-MF, Class E, 6.56%, 12/10/2034 <sup>(a)(b)</sup> | 750000 | 757004 |
|  Jackson Park Trust, Series 2019-LIC, Class E, 3.35%, 10/14/2039 <sup>(a)(b)</sup> | 750000 | 640098 |
| LBA Trust | LBA Trust | LBA Trust |
| &nbsp;&nbsp; Series 2024-BOLT, Class E, 8.01% (1 mo. Term SOFR + 3.69%), 06/15/2039 <sup>(a)</sup> | 1000000 | 1004908 |
| &nbsp;&nbsp; Series 2024-BOLT, Class F, 8.76% (1 mo. Term SOFR + 4.44%), 06/15/2039 <sup>(a)</sup> | 300000 | 301450 |
|  Morgan Stanley ABS Capital I, Inc., Series 2024-BPR2, Class A, 7.29%, 05/05/2029 <sup>(a)</sup> | 297259 | 311883 |
|  Morgan Stanley Capital I, Inc., Series 2014-150E, Class A, 3.91%, 09/09/2032 <sup>(a)</sup> | 300000 | 260311 |
|  TX Trust, Series 2024-HOU, Class D, 7.56% (1 mo. Term SOFR + 3.24%), 06/15/2039 <sup>(a)</sup> | 200000 | 200062 |
|  Wells Fargo Commercial Mortgage Trust, Series 2025-VTT, Class E, 7.14%, 03/15/2038 <sup>(a)(b)</sup> | 1500000 | 1490038 |
|  WFLD Mortgage Trust, Series 2014-MONT, Class A, 3.88%, 08/10/2031 <sup>(a)(b)</sup> | 276545 | 266649 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** (Cost $18,346,636) | **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** (Cost $18,346,636) | 18563089 |
| **EXCHANGE TRADED FUNDS - 2.2%** | **Shares** | **Value** |
| iShares iBoxx $ High Yield Corporate Bond ETF | 62300 | 4896780 |
| SPDR Bloomberg High Yield Bond ETF | 51200 | 4849152 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $9,546,644) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $9,546,644) | 9745932 |
| **RESIDENTIAL MORTGAGE-BACKED SECURITIES - U.S. GOVERNMENT AGENCY CREDIT RISK TRANSFER - 0.3%** | **Par** | **Value** |
|  Connecticut Avenue Securities Trust, Series 2024-R02, Class 1B2, 8.05% (30 day avg SOFR US + 3.70%), 02/25/2044 <sup>(a)</sup> | 1000000 | 1035509 |
|  Federal Home Loan Mortgage Corp., Series 2022-HQA3, Class M1B, 7.90% (30 day avg SOFR US + 3.55%), 08/25/2042 <sup>(a)</sup> | 500000 | 522215 |
| **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES - U.S. GOVERNMENT AGENCY CREDIT RISK TRANSFER** (Cost $1,496,563) | **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES - U.S. GOVERNMENT AGENCY CREDIT RISK TRANSFER** (Cost $1,496,563) | 1557724 |
| **COMMON STOCKS - 0.0%<sup>(d)</sup>** | **Shares** | **Value**  |
| **Energy - 0.0%<sup>(d)</sup>** | **Energy - 0.0%<sup>(d)</sup>** |  |
| Enviva Escrow <sup>(e)(f)</sup> | 150000 | 0 |
| Enviva LLC <sup>(f)</sup> | 5458 | 84599 |
|  |  | 84599 |
| **TOTAL COMMON STOCKS** (Cost $183,056) | **TOTAL COMMON STOCKS** (Cost $183,056) | 84599 |
| **SHORT-TERM INVESTMENTS - 7.5%** | **Shares** | **Value**  |
| **Money Market Funds - 7.5%** |  |  |
| First American Government Obligations Fund - Class U, 4.27% <sup>(g)</sup> | 33659469 | 33659469 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $33,659,469) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $33,659,469) | 33659469 |
| **TOTAL INVESTMENTS - 103.6% (**Cost $465,085,816**)** | **TOTAL INVESTMENTS - 103.6% (**Cost $465,085,816**)** | 466531231 |
| Liabilities in Excess of Other Assets - (3.6)% | Liabilities in Excess of Other Assets - (3.6)% | (16023289) |
| **TOTAL NET ASSETS - 100.0%** |  | $450507942 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

---

| |
|:---|
| CMT - Constant Maturity Treasury |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| SOFR - Secured Overnight Financing Rate<br> TBA – To be Announced |

---

(a) Security is exempt from registration under Rule 144A or Section 4(a)(2) of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration, normally
 to qualified institutional buyers. As of April 30, 2025, the value of these securities total $308,981,910 or 68.6% of the Fund's net assets.

(b) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral
 increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of April 30, 2025.

(c) Step coupon bond. The rate disclosed is as of April 30, 2025.

(d) Represents less than 0.05% of net assets.

(e) As of April 30, 2025, the Fund has fair valued these securities under the procedures established by Angel Oak Capital Advisors, LLC as Valuation Designee pursuant to Rule 2a-5 under the
 Investment Company Act of 1940. The value of these securities amounted to $0 or 0.0% of net assets. Value determined significant unobservable inputs.

(f) Non-income producing security.

(g) The rate shown represents the 7-day annualized effective yield as of April 30, 2025.

---

| |
|:---|
| **Angel Oak Income ETF** |
| **Schedule of Open Futures Contracts** |
| **April 30, 2025 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short Futures Contracts** | **Contracts Sold** | **Expiration Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Note | (221) | 06/30/2025 | $(24132164) | $(145516) |

---

The average monthly notional value of short futures contracts during the period ended April 30, 2025, was ($24,943,014).

------

#### Securities Valuation and Fair Value Measurements (Unaudited)

The Fund record its investments at fair value in accordance with fair valuation accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs, if any, during the period. In addition, these standards require expanded disclosure for each major category of assets. These inputs are summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments based on the best information available)

The inputs or methodology used for valuing securities are not an indication of the risks associated with investing in those securities. Investments in registered open-end management investment companies, including money market funds, will be valued based upon the net asset value of such investments and are categorized as Level 1 of the fair value hierarchy.

Fair values for long-term debt securities, including asset-backed securities, mortgage-backed securities, collateralized loan obligations, corporate obligations, and whole loans are normally determined on the basis of valuations provided by independent pricing services. Vendors typically value such securities based on one or more inputs, including but not limited to, benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and pricing models such as yield measurers calculated using factors such as cash flows, financial or collateral performance and other reference data. In addition to these inputs, cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information may be utilized. Securities that use similar valuation techniques and inputs are categorized as Level 2 of the fair value hierarchy. To the extent the significant inputs are unobservable; the values generally would be categorized as Level 3.

Equity securities, including preferred stocks, that are traded on a national securities exchange, except those listed on the Nasdaq Global Market<sup>®</sup>, Nasdaq Global Select Market<sup>®</sup> and the Nasdaq Capital Market<sup>®</sup> exchanges (collectively, "Nasdaq"), are valued at the last sale price at the close of that exchange. Securities traded on Nasdaq will be valued at the Nasdaq Official Closing Price. If, on a particular day, an exchange-listed or Nasdaq security does not trade, then: (i) the security shall be valued at the mean between the most recent quoted bid and asked prices at the close of the exchange; or (ii) the security shall be valued at the latest sales price on the Composite Market (defined below) for the day such security is being valued. "Composite Market" means a consolidation of the trade information provided by national securities and foreign exchanges and over-the-counter ("OTC") markets as published by a pricing service. In the event market quotations or Composite Market pricing are not readily available, fair value will be determined in accordance with the procedures adopted by the Board of Trustees ("Board"). All equity securities that are not traded on a listed exchange are valued at the last sale price at the close of the OTC market. If a non-exchange listed security does not trade on a particular day, then the mean between the last quoted bid and asked price will be used as long as it continues to reflect the value of the security. If the mean is not available, then bid price can be used as long as the bid price continues to reflect the value of the security. Otherwise, fair value will be determined in accordance with the procedures adopted by the Board. These securities will generally be categorized as Level 3 securities. When using the market quotations or close prices provided by the pricing service and when the market is considered active, the security will be classified as a Level 1 security. Sometimes, an equity security owned by the Fund will be valued by the pricing service with factors other than market quotations or when the market is considered inactive. When this happens, the security will be classified as a Level 2 security.

Short term debt securities having a maturity of 60 days or less are generally valued at amortized cost, which approximates fair market value. These investments are categorized as Level 2 of the fair value hierarchy. Reverse repurchase agreements and repurchase agreements are priced at their acquisition cost, and assessed for credit adjustments, which represents fair value. These securities will generally be categorized as Level 2 securities.

Financial derivative instruments, such as futures contracts, that are traded on a national securities or commodities exchange are typically valued at the settlement price determined by the relevant exchange. Swaps, such as credit default swaps, interest-rate swaps and currency swaps, are valued by a pricing service. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized as Level 1 of the fair value hierarchy. OTC financial derivative instruments, such as certain futures contracts or swap agreements, derive their values from underlying asset prices, indices, reference rates, other inputs or a combination of these factors. These instruments are normally valued on the basis of evaluations provided by independent pricing services or broker dealer quotations. Derivatives that use similar valuation techniques as described above are typically categorized as Level 2 of the fair value hierarchy.

Securities may be fair valued in accordance with the fair valuation procedures approved by the Board. The Valuation and Risk Management Oversight Committee is generally responsible for overseeing the Fund's valuation processes and reports quarterly to the Board. The Board has selected Angel Oak Capital Advisors, LLC (the "Adviser") as the Valuation Designee. As such, the Valuation Committee of the Adviser has been delegated the day-to-day responsibilities for making all necessary determinations of the fair value of portfolio securities and other assets for which market quotations are not readily available or if the prices obtained from independent pricing services are deemed to be unreliable indicators of market or fair value. Representatives of the Valuation Designee's Valuation Committee report quarterly to the Valuation and Risk Management Oversight Committee.

The following is a summary of the investments by their inputs used to value the Fund's net assets as of April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets** | | | | |
|  &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage-Backed Securities | $– | $147568816 | $– | $147568816 |
|  Residential Mortgage-Backed Securities – U.S. Government Agency | – | 100601129 | – | 100601129 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 84777801 | – | 84777801 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Obligations | – | 35352332 | – | 35352332 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Loan Obligations | – | 34620340 | – | 34620340 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage-Backed Securities | – | 18563089 | – | 18563089 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 9745932 | – | – | 9745932 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage-Backed Securities - U.S. Government Agency Credit Risk Transfer | – | 1557724 | – | 1557724 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | – | 84599 | 0 | 84599 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | 33659469 | – | – | 33659469 |
| **Total** | $43405401 | $423125830 | $0 | $466531231 |
| <br> **Other Financial Instruments** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts\* | $(145516) | $– | $– | $(145516) |
| \*Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. | \*Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. | \*Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. | \*Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. | \*Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. |
| See the Schedule of Investments for further disaggregation of investment categories. Level 3 holdings as of April 30, 2025, are immaterial and no further quantitative information about Level 3 Fair Value Measurements has been included. | See the Schedule of Investments for further disaggregation of investment categories. Level 3 holdings as of April 30, 2025, are immaterial and no further quantitative information about Level 3 Fair Value Measurements has been included. | See the Schedule of Investments for further disaggregation of investment categories. Level 3 holdings as of April 30, 2025, are immaterial and no further quantitative information about Level 3 Fair Value Measurements has been included. | See the Schedule of Investments for further disaggregation of investment categories. Level 3 holdings as of April 30, 2025, are immaterial and no further quantitative information about Level 3 Fair Value Measurements has been included. | See the Schedule of Investments for further disaggregation of investment categories. Level 3 holdings as of April 30, 2025, are immaterial and no further quantitative information about Level 3 Fair Value Measurements has been included. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Angel Oak Funds Trust

- **b. Investment Company Act file number:** 811-22980

- **c. CIK number of Registrant:** 0001612930

- **d. LEI of Registrant:** 549300DGLMLNBVBKK655

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

  - **Street Address 1:** 3344 Peachtree Road NE

  - **City:** Atlanta

  - **State:** GA

  - **Foreign country:** US

  - **Zip / Postal Code:** 30326

  - **Telephone number:** 404-953-4900

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

- **a. Name of Series:** Angel Oak Income ETF

- **b. EDGAR series identifier (if any):** S000077753

- **c. LEI of Series:** 549300KQXNQVK1DNGE47

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $461842767.96

**Total Liabilities:** $11325673.88

**Net Assets:** $450517094.08

**Delayed Delivery Securities:** $8398141.93

**Cash Not Reported:** $119644.69

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 348.871994218286 | **1-Year:** 4912.685057694707 | **5-Year:** 31575.091174797370 | **10-Year:** 63375.527793108540 | **30-Year:** 5275.153657255296

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

- **3-Month:** 3463.623647510302 | **1-Year:** 11934.325501016680 | **5-Year:** 19272.985290015780 | **10-Year:** 32156.751520372830 | **30-Year:** 14015.230155297840

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000238279 | 1.46%                | 0.15%                | 0.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15987.12               | $4044321.36                                |
| Month 2  | $303088.30               | $-1491043.84                               |
| Month 3  | $200891.78               | $-903636.91                                |

**Designated Index Information**

- **Index Name:** Fund's Securities Portfolio

- **Index Identifier:** GH5UHQ8NQ5

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2024-R02                                   | CUSIP: 20754GAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1035509.00   | 0.23%             | 2044-02-25      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2024-C                                              | CUSIP: 223920AE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $512066.70    | 0.11%             | 2032-03-15      | Fixed         | 8.04%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                     | DaVita Inc                                                                     | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252600.25    | 0.06%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage | Deephaven Residential Mortgage Trust 2021-2                                    | CUSIP: 24381WAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $304734.67    | 0.07%             | 2066-04-25      | Variable      | 3.17%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2025-NQM1                                                                 | CUSIP: 26846CAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1804000 | PA      | $1747794.58   | 0.39%             | 2070-01-25      | Variable      | 7.45%                 | No            |                  2 | On Loan: No      |
| Enviva LLC                     | Enviva LLC                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      5458 | NS      | $84599.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2024-5                                     | CUSIP: 30165BAH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1414000 | PA      | $1408847.81   | 0.31%             | 2032-05-17      | Fixed         | 7.22%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2022-1                                     | CUSIP: 30167JAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2913329.10   | 0.65%             | 2029-10-15      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DPX52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1331348 | PA      | $1301332.32   | 0.29%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DTKW9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    932613 | PA      | $951441.37    | 0.21%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DUJ65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3718718 | PA      | $3714217.31   | 0.82%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DWJ46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    895094 | PA      | $892151.72    | 0.20%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133CXCV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4989836 | PA      | $4976553.50   | 1.10%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133KPQ27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    855179 | PA      | $816857.34    | 0.18%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133W8HU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    949211 | PA      | $966594.50    | 0.21%             | 2054-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140ATLV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1494715 | PA      | $1493070.96   | 0.33%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140XLE38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1218930 | PA      | $1217643.89   | 0.27%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140XPCS6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    903712 | PA      | $885597.50    | 0.20%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                    | FIGRE Trust 2024-HE1                                                           | CUSIP: 31684HAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    778101 | PA      | $805744.11    | 0.18%             | 2054-03-25      | Variable      | 7.19%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD          | Freedom Mortgage Holdings LLC                                                  | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101956.50    | 0.02%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                                             | CUSIP: 36179XNF9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    821907 | PA      | $804886.05    | 0.18%             | 2052-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2024-PJ8                                   | CUSIP: 36272LCU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1734641 | PA      | $1218646.01   | 0.27%             | 2055-02-25      | Variable      | 6.91%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                     | MFA 2021-NQM2 Trust                                                            | CUSIP: 55283WAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    376634 | PA      | $331473.22    | 0.07%             | 2064-11-25      | Variable      | 1.47%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                  | Methanex Corp                                                                  | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $95093.83     | 0.02%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD       | Moss Creek Resources Holdings Inc                                              | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    200000 | PA      | $184074.62    | 0.04%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC        | New Fortress Energy Inc                                                        | CUSIP: 644393AB6<br>LEI: 254900EICTYTCHA5X705 | Long             | DBT              | CORP              | US        |    200000 | PA      | $164036.37    | 0.04%             | 2026-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP          | Northrop Grumman Corp                                                          | CUSIP: 666807CM2<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92207.66     | 0.02%             | 2054-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                  | PRA Group Inc                                                                  | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91207.12     | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2020-4 LLC                                                                | CUSIP: 69359XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385319 | PA      | $385388.23    | 0.09%             | 2025-10-25      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne | PRET 2024-NPL3 LLC                                                             | CUSIP: 69391UAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1007500.00   | 0.22%             | 2054-04-27      | Variable      | 10.04%                | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-RCF2 LLC                                                             | CUSIP: 693987AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1880512.00   | 0.42%             | 2054-03-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-2 LLC                                                                | CUSIP: 74448BAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1545618.00   | 0.34%             | 2029-03-25      | Variable      | 10.04%                | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC               | Radian Group Inc                                                               | CUSIP: 750236AY7<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |    250000 | PA      | $258245.61    | 0.06%             | 2029-05-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Radnor Re LTD                  | Radnor Re 2024-1 Ltd                                                           | CUSIP: 75049AAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1034918.00   | 0.23%             | 2034-09-25      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| Rate Mortgage Trust            | Rate Mortgage Trust 2021-J3                                                    | CUSIP: 75409TBA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $330100.00    | 0.07%             | 2051-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners            | SG Residential Mortgage Trust 2021-1                                           | CUSIP: 784212AC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1484971 | PA      | $1240179.33   | 0.28%             | 2061-07-25      | Variable      | 1.56%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg | Saluda Grade Alternative Mortgage Trust 2020-SEQ1                              | CUSIP: 79581PAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    158748 | PA      | $155770.05    | 0.03%             | 2050-05-25      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivab | Securitized Term Auto Receivables Trust                                        | CUSIP: 81378RAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    870544 | PA      | $880620.65    | 0.20%             | 2031-07-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2023-4                                                  | CUSIP: 81743JCG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1443304 | PA      | $1295510.68   | 0.29%             | 2053-11-25      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2018-2                                                  | CUSIP: 81746QAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    167570 | PA      | $151142.92    | 0.03%             | 2048-02-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| SHELF DRILL HOLD LTD           | Shelf Drilling Holdings Ltd                                                    | CUSIP: 822538AH7<br>LEI: 54930078ZJ3XP4MRYB68 | Long             | DBT              | CORP              | KY        |    300000 | PA      | $212656.05    | 0.05%             | 2029-04-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET       | Smyrna Ready Mix Concrete LLC                                                  | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293457.93    | 0.07%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI       | Standard Building Solutions Inc                                                | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202668.73    | 0.04%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Starwood Residential Mortgage  | STAR 2021-1 Trust                                                              | CUSIP: 85573GAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $514291.20    | 0.11%             | 2065-05-25      | Variable      | 3.52%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA         | Stena International SA                                                         | CUSIP: 85858EAD5<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $296422.89    | 0.07%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC               | StoneX Group Inc                                                               | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208414.41    | 0.05%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN        | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                   | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $93216.13     | 0.02%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes          | Tricon American Homes 2020-SFR1                                                | CUSIP: 89613GAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $193444.51    | 0.04%             | 2038-07-17      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| USASF Receivables LLC          | US Auto Funding Trust 2022-1                                                   | CUSIP: 90355FAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22126 | PA      | $21961.49     | 0.00%             | 2025-10-15      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| United Auto Credit Securitizat | United Auto Credit Securitization Trust 2022-1                                 | CUSIP: 90944DAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    881702 | PA      | $862023.33    | 0.19%             | 2028-11-10      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust   | Upstart Securitization Trust 2025-1                                            | CUSIP: 91684PAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2080000 | PA      | $2071948.32   | 0.46%             | 2035-04-20      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN       | USA Compression Partners LP / USA Compression Finance Corp                     | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101067.10    | 0.02%             | 2029-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| VT TOPCO INC                   | VT Topco Inc                                                                   | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |    360000 | PA      | $377095.43    | 0.08%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC         | Venture Global LNG Inc                                                         | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96528.59     | 0.02%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Veros Auto Receivables Trust   | Veros Auto Receivables Trust 2024-1                                            | CUSIP: 92512WAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    680000 | PA      | $701686.42    | 0.16%             | 2028-12-15      | Fixed         | 7.57%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2021-4                                              | CUSIP: 92538HAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    612428 | PA      | $502194.08    | 0.11%             | 2066-07-25      | Variable      | 1.35%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2022-7                                              | CUSIP: 92539NAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1325000 | PA      | $1304184.25   | 0.29%             | 2067-07-25      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust Series 2024-CES2                              | CUSIP: 92841YAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1032202.00   | 0.23%             | 2054-10-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| XPO INC                        | XPO Inc                                                                        | CUSIP: 98379KAB8<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102468.40    | 0.02%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2024-A                                       | CUSIP: 00834BAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $202120.72    | 0.04%             | 2029-02-15      | Fixed         | 9.17%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2024-B                                       | CUSIP: 00835AAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $975598.50    | 0.22%             | 2029-09-15      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC        | Aircastle Ltd / Aircastle Ireland DAC                                          | CUSIP: 00929JAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    150000 | PA      | $148796.18    | 0.03%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN       | Archrock Partners LP / Archrock Partners Finance Corp                          | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99543.88     | 0.02%             | 2032-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch  | BAMLL Trust 2025-ASHF                                                          | CUSIP: 05494CAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $753737.25    | 0.17%             | 2042-02-15      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                  | B&G Foods Inc                                                                  | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49669.28     | 0.01%             | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Trust 2024-BIO                                                              | CUSIP: 05612AAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $198584.00    | 0.04%             | 2041-02-15      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Commercial Mortgage Trust 2024-KING                                         | CUSIP: 05612RAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    493503 | PA      | $495785.09    | 0.11%             | 2034-05-15      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                                           | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    250000 | PA      | $208688.27    | 0.05%             | 2036-09-21      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| BARRICK INTL BARBADOS          | Barrick International Barbados Corp                                            | CUSIP: 06849AAB5<br>LEI: 549300Q10KSESPW7OK85 | Long             | DBT              | CORP              | BB        |    100000 | PA      | $107087.58    | 0.02%             | 2036-10-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus | BRAVO Residential Funding Trust 2024-NQM4                                      | CUSIP: 10568NAC6<br>LEI: 254900NOKQW417VKV943 | Long             | ABS-MBS          | CORP              | US        |    463036 | PA      | $454818.00    | 0.10%             | 2060-01-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus | BRAVO Residential Funding Trust 2024-NQM4                                      | CUSIP: 10568NAD4<br>LEI: 254900NOKQW417VKV943 | Long             | ABS-MBS          | CORP              | US        |    926072 | PA      | $880974.08    | 0.20%             | 2060-01-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus | BRAVO Residential Funding Trust 2021-NQM2                                      | CUSIP: 10569EAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    181419 | PA      | $175313.76    | 0.04%             | 2060-03-25      | Variable      | 1.28%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP         | Bunge Ltd Finance Corp                                                         | CUSIP: 120568BC3<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    100000 | PA      | $89558.09     | 0.02%             | 2031-05-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2021-N4                                         | CUSIP: 14687HAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3676410 | PA      | $3532627.11   | 0.78%             | 2028-09-11      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                | AREIT 2024-CRE9 Ltd                                                            | CUSIP: 00193AAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    800000 | PA      | $793890.40    | 0.18%             | 2041-05-17      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| AT&T INC                       | AT&T Inc                                                                       | CUSIP: 00206RFW7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94535.05     | 0.02%             | 2037-08-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Anchorage Credit Funding Ltd.  | Anchorage Credit Funding 3 Ltd                                                 | CUSIP: 03330EAL8<br>LEI: 5493003NNQWXMTSTMF21 | Long             | ABS-CBDO         | CORP              | KY        |   1275000 | PA      | $1275643.88   | 0.28%             | 2039-01-28      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2024-B                                              | CUSIP: 12627SAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1031918.50   | 0.23%             | 2031-11-17      | Fixed         | 8.36%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | Csmc 2021-Nqm6 Trust                                                           | CUSIP: 12662KAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    152711 | PA      | $126829.44    | 0.03%             | 2066-07-25      | Variable      | 1.58%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC           | Cleveland-Cliffs Inc                                                           | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    350000 | PA      | $329257.50    | 0.07%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2022-4 Mortgage Loan Trust                                                | CUSIP: 19685GAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1840126.00   | 0.41%             | 2067-03-25      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI       | Antero Midstream Partners LP / Antero Midstream Finance Corp                   | CUSIP: 03690AAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $202285.40    | 0.04%             | 2032-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC            | Ashtead Capital Inc                                                            | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202454.41    | 0.04%             | 2033-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ATLX Trust                     | ATLX 2024-RPL1 Trust                                                           | CUSIP: 049915AB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1431393.00   | 0.32%             | 2064-04-25      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| THE CAMPBELLS COMPANY          | The Campbell's Company                                                         | CUSIP: 134429BP3<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100871.61    | 0.02%             | 2034-03-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                 | CUSIP: 20914UAH9<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $90272.66     | 0.02%             | 2031-02-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Cook Park CLO, Ltd             | Cook Park CLO Ltd                                                              | CUSIP: 21623PAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1742685.00   | 0.39%             | 2030-04-17      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2024-2                                     | CUSIP: 30166DAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1354000 | PA      | $1385435.28   | 0.31%             | 2031-10-15      | Fixed         | 7.98%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133CXZ45<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2484332 | PA      | $2485482.63   | 0.55%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140AQYY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    988314 | PA      | $967885.79    | 0.21%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2023-3                                       | CUSIP: 36267PAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1599662.85   | 0.36%             | 2030-08-15      | Fixed         | 9.27%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC            | Global Payments Inc                                                            | CUSIP: 37940XAQ5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99507.36     | 0.02%             | 2032-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                     | goeasy Ltd                                                                     | CUSIP: 380355AJ6<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $302733.60    | 0.07%             | 2029-07-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| HTL Commercial Mortgage Trust  | HTL Commercial Mortgage Trust 2024-T53                                         | CUSIP: 404300AL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $103475.50    | 0.02%             | 2039-05-10      | Variable      | 12.32%                | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing III LP                                                 | CUSIP: 42806MAH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $951176.40    | 0.21%             | 2027-12-27      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL           | IBM International Capital Pte Ltd                                              | CUSIP: 449276AE4<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |    100000 | PA      | $98344.11     | 0.02%             | 2034-02-05      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2023-7                                                | CUSIP: 46657DAS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1035500 | PA      | $839014.91    | 0.19%             | 2054-02-25      | Variable      | 6.23%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2024-10                                             | CUSIP: 46658LBS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1421000 | PA      | $1231157.24   | 0.27%             | 2055-03-25      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN       | Jefferies Finance LLC / JFIN Co-Issuer Corp                                    | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $245182.05    | 0.05%             | 2031-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, NA - CACL | JPMorgan Chase Bank NA - CACLN                                                 | CUSIP: 48128U2S7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    778244 | PA      | $781891.77    | 0.17%             | 2028-12-26      | Fixed         | 8.48%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd          | KKR CLO 52 Ltd                                                                 | CUSIP: 48255YAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2511255.00   | 0.56%             | 2036-07-16      | Floating      | 13.07%                | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC              | Kinder Morgan Inc                                                              | CUSIP: 49456BBA8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94634.52     | 0.02%             | 2054-08-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| KNIFE RIVER CORP               | Knife River Corp                                                               | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $104705.20    | 0.02%             | 2031-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Legacy Mortgage Asset Trust    | Legacy Mortgage Asset Trust 2021-GS3                                           | CUSIP: 52474XAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    956629 | PA      | $972750.79    | 0.22%             | 2061-07-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mor | Morgan Stanley Residential Mortgage Loan Trust 2023-3                          | CUSIP: 61775QAY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1198000 | PA      | $1025855.79   | 0.23%             | 2053-09-25      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD            | NCL Corp Ltd                                                                   | CUSIP: 62886HBP5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $195272.96    | 0.04%             | 2030-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC         | Nationstar Mortgage Holdings Inc                                               | CUSIP: 63861CAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $207678.60    | 0.05%             | 2032-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SPDR Bloomberg High Yield Bond | SPDR Bloomberg High Yield Bond ETF                                             | CUSIP: 78468R622<br>LEI: 549300NCLW2248PN7J24 | Long             | EC               | RF                | US        |     51200 | NS      | $4849152.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| STARWOOD PROPERTY TRUST        | Starwood Property Trust Inc                                                    | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148411.26    | 0.03%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential  | Starwood Mortgage Residential Trust 2021-3                                     | CUSIP: 85573JAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $745821.00    | 0.17%             | 2056-06-25      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T | Tricolor Auto Securitization Trust 2023-1                                      | CUSIP: 89616KAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $843938.56    | 0.19%             | 2030-06-17      | Fixed         | 16.00%                | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust   | Upstart Securitization Trust 2023-1                                            | CUSIP: 91679AAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $306268.20    | 0.07%             | 2033-02-20      | Fixed         | 11.10%                | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust   | Upstart Securitization Trust 2021-5                                            | CUSIP: 91679JAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750605 | PA      | $732196.05    | 0.16%             | 2031-11-20      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC          | Directv Financing LLC / Directv Financing Co-Obligor Inc                       | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $96738.87     | 0.02%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2024-NQM1                                                                 | CUSIP: 26845DAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $988421.00    | 0.22%             | 2069-11-25      | Variable      | 7.17%                 | No            |                  2 | On Loan: No      |
| VCAT Asset Securitization, LLC | VCAT 2025-NPL1 LLC                                                             | CUSIP: 921962AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    461837 | PA      | $461819.02    | 0.10%             | 2055-01-25      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS         | Verizon Communications Inc                                                     | CUSIP: 92343VCV4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91802.35     | 0.02%             | 2036-01-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2024-CES1                                                                 | CUSIP: 281907AF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1019403.00   | 0.23%             | 2060-01-26      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC         | EquipmentShare.com Inc                                                         | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    300000 | PA      | $305715.77    | 0.07%             | 2028-05-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC         | EquipmentShare.com Inc                                                         | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102217.90    | 0.02%             | 2032-05-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140ANNU9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    988989 | PA      | $973182.33    | 0.22%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140KYBS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3122595 | PA      | $2478541.14   | 0.55%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC           | Fiesta Purchaser Inc                                                           | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $209626.40    | 0.05%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE            | CDW LLC / CDW Finance Corp                                                     | CUSIP: 12513GBL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $98172.00     | 0.02%             | 2034-08-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CVR PARTNERS/CVR NITROGE       | CVR Partners LP / CVR Nitrogen Finance Corp                                    | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $193495.74    | 0.04%             | 2028-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2023-N3                                         | CUSIP: 14686RAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1049480.80   | 0.23%             | 2030-09-10      | Fixed         | 9.49%                 | No            |                  2 | On Loan: No      |
| Cerberus                       | Cerberus Loan Funding XL LLC                                                   | CUSIP: 15675AAE9<br>LEI: 635400FRD1HEGKSHCI69 | Long             | ABS-CBDO         | CORP              | US        |   1500000 | PA      | $1507951.50   | 0.33%             | 2035-03-22      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2022-DNA2                                        | CUSIP: 35564KRF8<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $511028.50    | 0.11%             | 2042-02-25      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC               | T-Mobile USA Inc                                                               | CUSIP: 87264ACY9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149090.05    | 0.03%             | 2033-07-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Carlyle C17 CLO                | Carlyle C17 CLO Ltd                                                            | CUSIP: 14307PAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999417.00    | 0.22%             | 2031-04-30      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2024-P2                                         | CUSIP: 14688PAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    375000 | PA      | $385183.91    | 0.09%             | 2031-06-10      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2022-4 Mortgage Loan Trust                                                | CUSIP: 19685GAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    528635 | PA      | $514944.83    | 0.11%             | 2067-03-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| TASEKO MINES LTD               | Taseko Mines Ltd                                                               | CUSIP: 876511AG1<br>LEI: 549300XKUO1JSLU7KX54 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $303286.80    | 0.07%             | 2030-05-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2019-1                                               | CUSIP: 89177BAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1461668.00   | 0.32%             | 2058-03-25      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T | Tricolor Auto Securitization Trust 2023-1                                      | CUSIP: 89616KAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $211155.96    | 0.05%             | 2028-06-15      | Fixed         | 13.45%                | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL       | United Wholesale Mortgage LLC                                                  | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96945.39     | 0.02%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL        | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $183215.00    | 0.04%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC         | Comstock Resources Inc                                                         | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45330.32     | 0.01%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CoreVest American Finance Ltd  | Corevest American Finance 2020-4 Trust                                         | CUSIP: 21873AAL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $255562.80    | 0.06%             | 2052-12-15      | Fixed         | 2.71%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2021-6                                              | CUSIP: 92538MAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    290000 | PA      | $212294.80    | 0.05%             | 2066-10-25      | Variable      | 2.94%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2021-3                                              | CUSIP: 92539LAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1257000 | PA      | $911934.65    | 0.20%             | 2066-06-25      | Variable      | 3.96%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                                       | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52902.60     | 0.01%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| L Street Securities            | Wells Fargo Credit Risk Transfer Securities Trust 2015                         | CUSIP: 949771AC3<br>LEI: 549300T6W1U156OOG754 | Long             | ABS-MBS          | CORP              | US        |     28106 | PA      | $28526.15     | 0.01%             | 2025-11-25      | Floating      | 9.72%                 | No            |                  2 | On Loan: No      |
| MPLX LP                        | MPLX LP                                                                        | CUSIP: 55336VBV1<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96675.68     | 0.02%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2015-1                                     | CUSIP: 64829CAT5<br>LEI: 549300RCJSGOC0A85G53 | Long             | ABS-MBS          | CORP              | US        |    854388 | PA      | $620257.56    | 0.14%             | 2052-05-28      | Variable      | 5.21%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP            | NOVA Chemicals Corp                                                            | CUSIP: 66977WAT6<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $105517.40    | 0.02%             | 2028-11-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                | Oaktree CLO 2023-2 Ltd                                                         | CUSIP: 67401QAG1<br>LEI: 254900E6646RC82IR359 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003664.00   | 0.22%             | 2036-07-20      | Floating      | 9.72%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne | Pret 2024-NPL6 LLC                                                             | CUSIP: 69381QAA4<br>LEI: 254900RZOKAJE9T5UQ09 | Long             | ABS-MBS          | CORP              | US        |    919372 | PA      | $925558.63    | 0.21%             | 2054-10-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners            | SG Residential Mortgage Trust 2021-2                                           | CUSIP: 78432YAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    354302 | PA      | $299885.85    | 0.07%             | 2061-12-25      | Variable      | 1.74%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg | Saluda Grade Alternative Mortgage Trust 2025-NPL1                              | CUSIP: 79582BAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $500491.00    | 0.11%             | 2030-01-25      | Variable      | 9.05%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2024-2                                                  | CUSIP: 81749HCF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1439301 | PA      | $1316858.33   | 0.29%             | 2054-03-25      | Variable      | 6.26%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential  | Starwood Mortgage Residential Trust 2022-3                                     | CUSIP: 85571RAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    961510 | PA      | $901592.45    | 0.20%             | 2067-03-25      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| STRIKE ACCEPTANCE AUTO FUNDING | Strike Acceptance Auto Funding Trust 2023-1                                    | CUSIP: 862942AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    329773 | PA      | $330402.28    | 0.07%             | 2026-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2024-2PL                                                        | CUSIP: 00092HAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $600854.16    | 0.13%             | 2031-10-27      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                                      | CUSIP: 01F050650<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5000000 | PA      | $4895253.00   | 1.09%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP            | American Tower Corp                                                            | CUSIP: 03027XCD0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153617.01    | 0.03%             | 2033-07-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                      | Amgen Inc                                                                      | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151627.82    | 0.03%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SUNCOKE ENERGY INC             | SunCoke Energy Inc                                                             | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |    300000 | PA      | $275923.56    | 0.06%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP           | Targa Resources Corp                                                           | CUSIP: 87612GAF8<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105147.12    | 0.02%             | 2034-03-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN       | Archrock Partners LP / Archrock Partners Finance Corp                          | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $35983.93     | 0.01%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust | ARES Commercial Mortgage Trust 2024-IND                                        | CUSIP: 03990DAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $500146.50    | 0.11%             | 2041-07-15      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| ATLX Trust                     | ATLX 2024-RPL1 Trust                                                           | CUSIP: 049915AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4743755.00   | 1.05%             | 2064-04-25      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD       | Avolon Holdings Funding Ltd                                                    | CUSIP: 05401AAV3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $101299.69    | 0.02%             | 2029-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC       | Acadia Healthcare Co Inc                                                       | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    600000 | PA      | $600228.30    | 0.13%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                      | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $141717.45    | 0.03%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALLIANCE RES OP/FINANCE        | Alliance Resource Operating Partners LP / Alliance Resource Finance Corp       | CUSIP: 01879NAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $206662.60    | 0.05%             | 2029-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                              | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87847.10     | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2017-6                                               | CUSIP: 89175JAH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2111562.00   | 0.47%             | 2057-10-25      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2018-5                                               | CUSIP: 89176VAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1382128.00   | 0.31%             | 2058-07-25      | Variable      | 3.49%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch  | BAMLL Commercial Mortgage Securities Trust 2024-NASH                           | CUSIP: 05555CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $596038.80    | 0.13%             | 2039-05-15      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch  | BAMLL Commercial Mortgage Securities Trust 2024-NASH                           | CUSIP: 05555CAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $198488.00    | 0.04%             | 2039-05-15      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| TX Trust 24-HOU                | TX Trust 2024-HOU                                                              | CUSIP: 90216DAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $200062.40    | 0.04%             | 2039-06-15      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2024-1CHI                                | CUSIP: 95003PAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $201732.00    | 0.04%             | 2035-07-15      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Trust 2024-BIO                                                              | CUSIP: 05612AAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $198622.00    | 0.04%             | 2041-02-15      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC       | Baxter International Inc                                                       | CUSIP: 071813CS6<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    150000 | PA      | $128245.51    | 0.03%             | 2032-02-01      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT               | Bellemeade Re 2023-1 Ltd                                                       | CUSIP: 07876XAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   1000000 | PA      | $1033976.00   | 0.23%             | 2033-10-25      | Floating      | 8.60%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT               | Bellemeade Re Ltd                                                              | CUSIP: 078915AD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    900000 | PA      | $938665.80    | 0.21%             | 2034-08-25      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC         | Williams Cos Inc/The                                                           | CUSIP: 969457CJ7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102305.12    | 0.02%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                  | Amphenol Corp                                                                  | CUSIP: 032095AQ4<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153576.09    | 0.03%             | 2034-04-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                                       | CUSIP: 05377REU4<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1437863.70   | 0.32%             | 2028-02-20      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC          | Belron UK Finance PLC                                                          | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $99972.15     | 0.02%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BORGWARNER INC                 | BorgWarner Inc                                                                 | CUSIP: 099724AQ9<br>LEI: 549300DSFX2IE88NSX47 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98988.63     | 0.02%             | 2034-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur | Bridgecrest Lending Auto Securitization Trust 2023-1                           | CUSIP: 108056AG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2183924.00   | 0.48%             | 2030-07-15      | Fixed         | 10.37%                | No            |                  2 | On Loan: No      |
| BX Trust                       | BX 2025-BIO3 Mortgage Trust                                                    | CUSIP: 123911AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $744261.00    | 0.17%             | 2042-02-10      | Variable      | 7.19%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                                       | CUSIP: 05377RJW5<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1002183.00   | 0.22%             | 2028-08-21      | Fixed         | 7.31%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS D       | Axalta Coating Systems Dutch Holding B BV                                      | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $103672.00    | 0.02%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC            | Axon Enterprise Inc                                                            | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204345.40    | 0.05%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT               | Bellemeade Re 2023-1 Ltd                                                       | CUSIP: 07876XAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    200000 | PA      | $215435.80    | 0.05%             | 2033-10-25      | Floating      | 11.05%                | No            |                  2 | On Loan: No      |
| Bankers Healthcare Group Secur | BHG Securitization Trust 2024-1CON                                             | CUSIP: 08862HAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $206548.52    | 0.05%             | 2035-04-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR         | Blackstone Mortgage Trust Inc                                                  | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103967.40    | 0.02%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BROWN-FORMAN CORP              | Brown-Forman Corp                                                              | CUSIP: 115637AT7<br>LEI: 549300873K3LXF7ARU34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87978.55     | 0.02%             | 2038-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE       | Burlington Northern Santa Fe LLC                                               | CUSIP: 12189LBB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $81467.96     | 0.02%             | 2047-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2022-7 Mortgage Loan Trust                                                | CUSIP: 12663GAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3916000 | PA      | $3936868.36   | 0.87%             | 2067-04-25      | Variable      | 6.28%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC           | Cleveland-Cliffs Inc                                                           | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96419.05     | 0.02%             | 2030-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Carbone CLO, LTD               | Carbone Clo Ltd                                                                | CUSIP: 141312AG3<br>LEI: 5493005I53NEC017LN87 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1998792.00   | 0.44%             | 2031-01-20      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| CONCENTRA HEALTH SERVICE       | Concentra Health Services Inc                                                  | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102504.66    | 0.02%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC             | Conagra Brands Inc                                                             | CUSIP: 205887CD2<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94707.96     | 0.02%             | 2038-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES          | Continental Resources Inc/OK                                                   | CUSIP: 212015AT8<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98508.09     | 0.02%             | 2031-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage | Deephaven Residential Mortgage Trust 2022-1                                    | CUSIP: 24382JAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $405743.00    | 0.09%             | 2067-01-25      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2024-CES1                                                                 | CUSIP: 281907AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1019283.00   | 0.23%             | 2060-01-26      | Variable      | 7.04%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP             | Energy Transfer LP                                                             | CUSIP: 226373AT5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104705.59    | 0.02%             | 2031-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage | Deephaven Residential Mortgage Trust 2022-3                                    | CUSIP: 24381YAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    256456 | PA      | $259168.07    | 0.06%             | 2067-07-25      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| ENACT HOLDINGS INC             | Enact Holdings Inc                                                             | CUSIP: 29249EAA7<br>LEI: 9845003CA5664B741N19 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102454.25    | 0.02%             | 2029-05-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ENCINO ACQUISITION PARTN       | Encino Acquisition Partners Holdings LLC                                       | CUSIP: 29254BAA5<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100160.70    | 0.02%             | 2028-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2021-3                                     | CUSIP: 30166AAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $292436.82    | 0.06%             | 2028-12-15      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2022-5                                     | CUSIP: 30167FAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1053222.40   | 0.23%             | 2030-04-15      | Fixed         | 10.45%                | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3138MTKQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1995209 | PA      | $1988650.51   | 0.44%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140W0FB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    942365 | PA      | $941034.75    | 0.21%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140XQ2C0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2808209 | PA      | $2757183.88   | 0.61%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3142GRQU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    962557 | PA      | $940856.28    | 0.21%             | 2054-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | Ellington Financial Mortgage Trust 2021-2                                      | CUSIP: 31572LAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $482290.90    | 0.11%             | 2066-06-25      | Variable      | 2.30%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP            | Fifth Third Bancorp                                                            | CUSIP: 316773DL1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204951.96    | 0.05%             | 2032-01-29      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L       | First Quantum Minerals Ltd                                                     | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $297188.64    | 0.07%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST       | Fortress Transportation and Infrastructure Investors LLC                       | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104642.60    | 0.02%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC         | GE HealthCare Technologies Inc                                                 | CUSIP: 36267VAK9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104993.30    | 0.02%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| Gaea Mortgage Loan Trust       | Gaea Mortgage Loan Trust 2025-A                                                | CUSIP: 362928AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2901568 | PA      | $2909605.22   | 0.65%             | 2030-02-25      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC          | Genesee & Wyoming Inc                                                          | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101445.10    | 0.02%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust               | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                                        | CUSIP: 403956AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $201054.00    | 0.04%             | 2037-05-15      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| ENCINO ACQUISITION PARTN       | Encino Acquisition Partners Holdings LLC                                       | CUSIP: 29254BAB3<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101951.25    | 0.02%             | 2031-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2024-1                                     | CUSIP: 30167PAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1021644.00   | 0.23%             | 2031-08-15      | Fixed         | 7.89%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2025-NQM1                                                                 | CUSIP: 26846CAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1984400.00   | 0.44%             | 2070-01-25      | Variable      | 7.45%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2023-2                                     | CUSIP: 30168CAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1076245.40   | 0.24%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2019-INV3                                             | CUSIP: 46591LCA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1647178 | PA      | $1465184.78   | 0.33%             | 2050-05-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2023-6                                              | CUSIP: 465989AN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    519900 | PA      | $440092.01    | 0.10%             | 2053-12-26      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DSR46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1010704 | PA      | $989812.87    | 0.22%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DSWC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    891909 | PA      | $906849.76    | 0.20%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140ADFL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    977327 | PA      | $974724.90    | 0.22%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140MWXQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    871224 | PA      | $852671.55    | 0.19%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140QNKN1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5099751 | PA      | $4041522.12   | 0.90%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140XNPY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2357295 | PA      | $2315801.52   | 0.51%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2020-4                                                | CUSIP: 46652FBX7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1159316 | PA      | $1027612.04   | 0.23%             | 2050-11-25      | Variable      | 3.64%                 | No            |                  2 | On Loan: No      |
| LBA Trust                      | LBA Trust 2024-BOLT                                                            | CUSIP: 50177BAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $301449.60    | 0.07%             | 2039-06-15      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DUKC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2357189 | PA      | $2304046.25   | 0.51%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DWHG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    845922 | PA      | $845785.45    | 0.19%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140XHJY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4137046 | PA      | $3748413.43   | 0.83%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140XRGA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3855778 | PA      | $3341096.84   | 0.74%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140XRN35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5715363 | PA      | $5718009.63   | 1.27%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 31425U2Z7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2206032 | PA      | $2209120.45   | 0.49%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 31427MCR0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3981985 | PA      | $3910059.92   | 0.87%             | 2055-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | Ellington Financial Mortgage Trust 2021-2                                      | CUSIP: 31572LAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    315000 | PA      | $221534.78    | 0.05%             | 2066-06-25      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| CRH AMERICA FINANCE INC        | CRH America Finance Inc                                                        | CUSIP: 12636YAE2<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202802.61    | 0.05%             | 2034-05-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | Ellington Financial Mortgage Trust 2022-1                                      | CUSIP: 31573CAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $955472.50    | 0.21%             | 2067-01-25      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | Ellington Financial Mortgage Trust 2017-1                                      | CUSIP: 31574XAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $745361.00    | 0.17%             | 2066-02-25      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                    | FIGRE Trust 2024-HE4                                                           | CUSIP: 31684UAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    950602 | PA      | $947866.10    | 0.21%             | 2054-09-25      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund                                     | CUSIP: 31846V211<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  33641098 | NS      | $33641097.85  | 7.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2022-D                                              | CUSIP: 12663UAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1100792.70   | 0.24%             | 2030-06-17      | Fixed         | 12.12%                | No            |                  2 | On Loan: No      |
| COMCAST CORP                   | Comcast Corp                                                                   | CUSIP: 20030NAK7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    100000 | PA      | $110831.67    | 0.02%             | 2035-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                                       | CUSIP: 345397E66<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94696.88     | 0.02%             | 2034-03-08      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2019-EXP1 Trust                                                            | CUSIP: 67448QAC5<br>LEI: 549300ELWOCL265HSB73 | Long             | ABS-MBS          | CORP              | US        |     74427 | PA      | $73848.18     | 0.02%             | 2059-01-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Luxury Lease Partners Auto Lea | Luxury Lease Partners Auto Lease Trust 2024-4                                  | CUSIP: 55068XAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480996 | PA      | $483371.86    | 0.11%             | 2030-07-15      | Fixed         | 7.29%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC             | Royalty Pharma PLC                                                             | CUSIP: 78081BAL7<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $73516.22     | 0.02%             | 2040-09-02      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP       | Sally Holdings LLC / Sally Capital Inc                                         | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $151286.55    | 0.03%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                | Sealed Air Corp                                                                | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152685.93    | 0.03%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SEASPAN CORP                   | Seaspan Corp                                                                   | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |    100000 | PA      | $91381.79     | 0.02%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2022-4                                              | CUSIP: 92538NAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1796058.00   | 0.40%             | 2067-04-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust            | COMM 2024-WCL1 MORTGAGE TRUST                                                  | CUSIP: 20047DAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1495066.50   | 0.33%             | 2041-06-15      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC          | Directv Financing LLC / Directv Financing Co-Obligor Inc                       | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $189548.08    | 0.04%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust 2024-CES1                                     | CUSIP: 92839HAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1061192.00   | 0.24%             | 2054-05-25      | Variable      | 10.35%                | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                                       | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207318.85    | 0.05%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2025-INV2                                                                 | CUSIP: 281914AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $996993.00    | 0.22%             | 2070-05-26      | Variable      | 7.48%                 | No            |                  2 | On Loan: No      |
| ENVIVA ESCROW                  | ENVIVA ESCROW                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    150000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| EZCORP INC                     | EZCORP Inc                                                                     | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |    275000 | PA      | $288582.27    | 0.06%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DUY27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2967708 | PA      | $2930477.93   | 0.65%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP           | Reworld Holding Corp                                                           | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    200000 | PA      | $187083.62    | 0.04%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                                           | CUSIP: 693475BW4<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    300000 | PA      | $305876.11    | 0.07%             | 2035-01-22      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| FISERV INC                     | Fiserv Inc                                                                     | CUSIP: 337738BH0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152876.82    | 0.03%             | 2033-08-21      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2022-HQA3                                        | CUSIP: 35564KE47<br>LEI: 5493000IRJ8RDHSNEL96 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $522214.50    | 0.12%             | 2042-08-25      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | Prpm 2024-1 LLC                                                                | CUSIP: 693972AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    437776 | PA      | $447018.05    | 0.10%             | 2029-02-25      | Variable      | 6.96%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-3                                                                    | CUSIP: 693986AB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1019585.00   | 0.23%             | 2029-05-25      | Variable      | 9.56%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                                       | CUSIP: 92840VAS1<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101102.50    | 0.02%             | 2034-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust 2024-CES3                                     | CUSIP: 92841WAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1259883.75   | 0.28%             | 2055-01-25      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2023-4                                       | CUSIP: 362929AG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1083291.70   | 0.24%             | 2030-08-15      | Fixed         | 9.72%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO         | General Motors Financial Co Inc                                                | CUSIP: 37045XEP7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100539.11    | 0.02%             | 2034-01-07      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD        | Global Aircraft Leasing Co Ltd                                                 | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    300000 | PA      | $299288.13    | 0.07%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                 | Gray Media Inc                                                                 | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    200000 | PA      | $119508.09    | 0.03%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                 | PMT Loan Trust 2024-INV2                                                       | CUSIP: 73015CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    722687 | PA      | $732177.02    | 0.16%             | 2059-12-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| PULTEGROUP INC                 | PulteGroup Inc                                                                 | CUSIP: 745867AP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $105622.66    | 0.02%             | 2033-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                   | Voya CLO 2018-1 Ltd                                                            | CUSIP: 92917AAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $246058.25    | 0.05%             | 2031-04-19      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| WALKER & DUNLOP INC            | Walker & Dunlop Inc                                                            | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101813.00    | 0.02%             | 2033-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2021-5 Mortgage Loan Trust                                                | CUSIP: 12598RAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1712208.00   | 0.38%             | 2066-11-26      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2022-3 Mortgage Loan Trust                                                | CUSIP: 12659YAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1746078.00   | 0.39%             | 2067-02-25      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133CYQ43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2873858 | PA      | $2918408.92   | 0.65%             | 2054-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133KKUC1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4814213 | PA      | $4010439.77   | 0.89%             | 2050-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CHAMP ACQUISITION CORP         | Champ Acquisition Corp                                                         | CUSIP: 15807XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $316793.10    | 0.07%             | 2031-12-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora | Chase Home Lending Mortgage Trust Series 2024-4                                | CUSIP: 16159NBF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2027639 | PA      | $1881158.19   | 0.42%             | 2055-03-25      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora | Chase Home Lending Mortgage Trust Series 2024-5                                | CUSIP: 16159QBF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1891778 | PA      | $1758865.02   | 0.39%             | 2055-04-25      | Variable      | 6.28%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS       | Cheniere Energy Partners LP                                                    | CUSIP: 16411QAS0<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100339.35    | 0.02%             | 2034-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Trust         | Invitation Homes 2024-SFR1 Trust                                               | CUSIP: 46188DAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    998290 | PA      | $965545.02    | 0.21%             | 2041-09-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jackson Park Trust             | Jackson Park Trust 2019-LIC                                                    | CUSIP: 46868RAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $640098.00    | 0.14%             | 2039-10-14      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN       | RHP Hotel Properties LP / RHP Finance Corp                                     | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99765.78     | 0.02%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Radnor Re LTD                  | Radnor Re 2024-1 Ltd                                                           | CUSIP: 75049AAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $505892.00    | 0.11%             | 2034-09-25      | Floating      | 7.85%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                 | Romark WM-R Ltd                                                                | CUSIP: 77587AAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2255000 | PA      | $2252774.32   | 0.50%             | 2031-04-20      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust    | SBNA Auto Receivables Trust 2024-A                                             | CUSIP: 78437PAH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1547353.80   | 0.34%             | 2032-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                                | CUSIP: 3140XPUY3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    937224 | PA      | $953510.09    | 0.21%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD          | Freedom Mortgage Holdings LLC                                                  | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97901.50     | 0.02%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS       | LCM Investments Holdings II LLC                                                | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104690.90    | 0.02%             | 2031-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MARS INC                       | Mars Inc                                                                       | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200869.63    | 0.04%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                                                 | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    300000 | PA      | $302530.13    | 0.07%             | 2038-01-19      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust 2024-BPR2                                       | CUSIP: 61776EAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    297259 | PA      | $311883.17    | 0.07%             | 2029-05-05      | Fixed         | 7.29%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg | Saluda Grade Alternative Mortgage Trust 2023-FIG4                              | CUSIP: 79581UAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1526736 | PA      | $1580813.15   | 0.35%             | 2053-11-25      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC       | Sensata Technologies Inc                                                       | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $175116.83    | 0.04%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2024-1CHI                                | CUSIP: 95003PAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $302706.90    | 0.07%             | 2035-07-15      | Variable      | 6.93%                 | No            |                  2 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP        | Zebra Technologies Corp                                                        | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100563.12    | 0.02%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC           | Freeport-McMoRan Inc                                                           | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99805.87     | 0.02%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GCAT                           | GCAT 2022-NQM2 Trust                                                           | CUSIP: 36169KAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    767906 | PA      | $726292.51    | 0.16%             | 2067-02-25      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                 | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $96498.60     | 0.02%             | 2026-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC       | Constellation Brands Inc                                                       | CUSIP: 21036PBP2<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97643.43     | 0.02%             | 2033-05-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2023-1                                       | CUSIP: 36266XAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1118029.00   | 0.25%             | 2030-03-15      | Fixed         | 11.42%                | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN          | Genesis Energy LP / Genesis Energy Finance Corp                                | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $145701.35    | 0.03%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS         | Zimmer Biomet Holdings Inc                                                     | CUSIP: 98956PAV4<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |    200000 | PA      | $175361.22    | 0.04%             | 2031-11-24      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 31425V2B8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    993575 | PA      | $981731.63    | 0.22%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3142GRSU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    898088 | PA      | $911449.08    | 0.20%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Arizona Biltmore Trust         | ARZ Trust 2024-BILT                                                            | CUSIP: 00218TAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $258146.00    | 0.06%             | 2029-06-11      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2023-2                                                  | CUSIP: 81744KCG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1409916 | PA      | $1255591.10   | 0.28%             | 2053-03-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS       | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $93041.77     | 0.02%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| STL HOLDING CO LLC             | STL Holding Co LLC                                                             | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101676.30    | 0.02%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Theorem Funding Trust          | Theorem Funding Trust 2022-2                                                   | CUSIP: 88339FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $305742.39    | 0.07%             | 2028-12-15      | Fixed         | 9.27%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                 | NRG Energy Inc                                                                 | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99922.85     | 0.02%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                    | OCP CLO 2023-28 Ltd                                                            | CUSIP: 671002AA1<br>LEI: 2138002ZIH5ZX5JB4G62 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1005683.00   | 0.22%             | 2036-07-16      | Floating      | 12.66%                | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2024-A                                       | CUSIP: 00834BAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $201278.52    | 0.04%             | 2029-02-15      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| Anchorage Credit Funding Ltd.  | Anchorage Credit Funding 9 Ltd                                                 | CUSIP: 03330HBN6<br>LEI: 549300SMHL6F6G4VTM11 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $924941.00    | 0.21%             | 2037-10-25      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2021-SJ2                                             | CUSIP: 89180LAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1856326.00   | 0.41%             | 2061-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                                   | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194459.48    | 0.04%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Veros Auto Receivables Trust   | Veros Auto Receivables Trust 2024-1                                            | CUSIP: 92512WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $528417.95    | 0.12%             | 2031-05-15      | Fixed         | 9.87%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                | Gen Digital Inc                                                                | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99980.23     | 0.02%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST       | Fortress Transportation and Infrastructure Investors LLC                       | CUSIP: 34960PAH4<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191581.18    | 0.04%             | 2033-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GCAT                           | GCAT 2021-NQM2 Trust                                                           | CUSIP: 36166XAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    197466 | PA      | $173757.24    | 0.04%             | 2066-05-25      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD               | GGAM Finance Ltd                                                               | CUSIP: 36170JAD8<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $102370.70    | 0.02%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                                             | CUSIP: 36179XQX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5062927 | PA      | $5053996.49   | 1.12%             | 2053-01-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                                             | CUSIP: 36179XVU7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    633550 | PA      | $640228.21    | 0.14%             | 2053-03-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                                             | CUSIP: 36179YAT1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    706373 | PA      | $713818.69    | 0.16%             | 2053-07-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-5 LLC                                                                | CUSIP: 69381KAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    451689 | PA      | $457496.39    | 0.10%             | 2029-09-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2022-1                                                    | CUSIP: 69546MAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2284107 | PA      | $2235840.34   | 0.50%             | 2029-10-15      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2021-MM1                                   | CUSIP: 36264JAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    821257 | PA      | $674395.65    | 0.15%             | 2052-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2024-PJ7                                   | CUSIP: 362949CR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1529000 | PA      | $1326172.03   | 0.29%             | 2054-11-25      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| ARIS WATER HOLDINGS LLC        | Aris Water Holdings LLC                                                        | CUSIP: 04041NAA0<br>LEI: 5493007AWQW8ZKCHVV46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99327.09     | 0.02%             | 2030-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ARROW ELECTRONICS INC          | Arrow Electronics Inc                                                          | CUSIP: 04273WAE1<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100616.77    | 0.02%             | 2034-04-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust                                                 | CUSIP: 69548MAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    466392 | PA      | $481653.54    | 0.11%             | 2031-12-15      | Fixed         | 10.89%                | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya Ai Debt Grantor Trust 2024-9                                            | CUSIP: 69548QAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    599908 | PA      | $596249.04    | 0.13%             | 2032-03-15      | Fixed         | 10.11%                | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd | Golub Capital Partners CLO 69M                                                 | CUSIP: 38179UAF5<br>LEI: 2549004WBNSFGOX1MY52 | Long             | ABS-CBDO         | CORP              | US        |   3000000 | PA      | $3013737.00   | 0.67%             | 2036-11-09      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu | GreenSky Home Improvement Trust 2024-1                                         | CUSIP: 39571MAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $505809.20    | 0.11%             | 2059-06-25      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Avant Credit Card Master Trust | Avant Credit Card Master Trust                                                 | CUSIP: 05351KAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501152.20    | 0.11%             | 2030-04-15      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                                       | CUSIP: 05377RKG8<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1500774.00   | 0.33%             | 2027-10-20      | Fixed         | 7.26%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd              | PARK BLUE CLO 2023-III LTD                                                     | CUSIP: 70019BAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1006659.00   | 0.22%             | 2036-04-20      | Floating      | 12.07%                | No            |                  2 | On Loan: No      |
| PHINIA INC                     | Phinia Inc                                                                     | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98239.37     | 0.02%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                      | Pike Corp                                                                      | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52516.70     | 0.01%             | 2031-01-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Prestige Auto Receivables Trus | Prestige Auto Receivables Trust 2024-2                                         | CUSIP: 74113SAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $733234.20    | 0.16%             | 2031-11-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SKOPOS AUTO RECEIVABLES TRUST  | Skopos Auto Receivables Trust 2019-1                                           | CUSIP: 83085DAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145688 | PA      | $146154.60    | 0.03%             | 2026-06-15      | Fixed         | 7.82%                 | No            |                  2 | On Loan: No      |
| Verdelite Static CLO Ltd       | Verdelite Static CLO 2024-1 Ltd                                                | CUSIP: 92338VAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2500000 | PA      | $2493567.50   | 0.55%             | 2032-07-20      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2023-1                                              | CUSIP: 92539BAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    424178 | PA      | $432957.61    | 0.10%             | 2067-12-25      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2022-INV1                                           | CUSIP: 92539JAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2730000 | PA      | $2669945.46   | 0.59%             | 2067-08-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP         | HA Sustainable Infrastructure Capital Inc                                      | CUSIP: 41068XAE0<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96120.84     | 0.02%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HECLA MINING CO                | Hecla Mining Co                                                                | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100347.00    | 0.02%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch  | BAMLL Commercial Mortgage Securities Trust 2024-NASH                           | CUSIP: 05555CAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99236.10     | 0.02%             | 2039-05-15      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| Bankers Healthcare Group Secur | BHG Securitization Trust 2024-1CON                                             | CUSIP: 08862HAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $822268.00    | 0.18%             | 2035-04-17      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2021-3                                              | CUSIP: 92539LAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1115334.00   | 0.25%             | 2066-06-25      | Variable      | 2.40%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust | CFMT 2024-R1 LLC                                                               | CUSIP: 12530YAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $925634.00    | 0.21%             | 2054-10-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2022-C                                              | CUSIP: 12664DAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1043698.10   | 0.23%             | 2030-04-15      | Fixed         | 9.08%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC          | Caesars Entertainment Inc                                                      | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100610.30    | 0.02%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO       | Capital One Financial Corp                                                     | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201886.11    | 0.04%             | 2034-02-01      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| ICNQ Mortgage Trust            | ICNQ 2024-MF Mortgage Trust                                                    | CUSIP: 450953AL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $757003.50    | 0.17%             | 2034-12-10      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN       | Jefferson Capital Holdings LLC                                                 | CUSIP: 472481AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $125902.44    | 0.03%             | 2029-02-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO           | Kraft Heinz Foods Co                                                           | CUSIP: 50076QAR7<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $110796.15    | 0.02%             | 2039-01-26      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LBA Trust                      | LBA Trust 2024-BOLT                                                            | CUSIP: 50177BAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1004908.00   | 0.22%             | 2039-06-15      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2024-P3                                         | CUSIP: 146919AG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $497034.05    | 0.11%             | 2032-09-10      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2022-5 Mortgage Loan Trust                                                | CUSIP: 19688LAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1149503.75   | 0.26%             | 2067-03-25      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC               | Crown Castle Inc                                                               | CUSIP: 22822VBC4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97847.36     | 0.02%             | 2033-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| DCLI BIDCO LLC                 | Dcli Bidco LLC                                                                 | CUSIP: 233104AA6<br>LEI: 2549007UUVJTHHNK9T70 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93262.52     | 0.02%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION           | M&T Bank Corp                                                                  | CUSIP: 55261FAR5<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    200000 | PA      | $192576.07    | 0.04%             | 2034-01-27      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD       | Macquarie Airfinance Holdings Ltd                                              | CUSIP: 55609NAB4<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $104663.70    | 0.02%             | 2029-03-30      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust         | Marlette Funding Trust 2023-2                                                  | CUSIP: 57109LAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3537321.20   | 0.79%             | 2033-06-15      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| MASTEC INC                     | MasTec Inc                                                                     | CUSIP: 576323AP4<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97378.52     | 0.02%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Accepta | Mello Mortgage Capital Acceptance 2022-INV2                                    | CUSIP: 58549JBU7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    411381 | PA      | $352619.94    | 0.08%             | 2052-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MOSAIC CO                      | Mosaic Co/The                                                                  | CUSIP: 61945CAE3<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94731.33     | 0.02%             | 2043-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2024-NQM1                                                                 | CUSIP: 26845DAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $376242.00    | 0.08%             | 2069-11-25      | Variable      | 7.65%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2025-INV2                                                                 | CUSIP: 281914AF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $950224.00    | 0.21%             | 2070-05-26      | Variable      | 7.48%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2019-2                                     | CUSIP: 64830DCF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1428036 | PA      | $1076736.36   | 0.24%             | 2057-12-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRISES        | Saks Global Enterprises LLC                                                    | CUSIP: 79380MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $30382.87     | 0.01%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| TYSON FOODS INC                | Tyson Foods Inc                                                                | CUSIP: 902494AZ6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96447.75     | 0.02%             | 2034-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE          | United Parcel Service Inc                                                      | CUSIP: 911312CE4<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95414.90     | 0.02%             | 2054-05-22      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM        | United Rentals North America Inc                                               | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152054.55    | 0.03%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2021-1                                              | CUSIP: 92537QAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1926000 | PA      | $1503926.73   | 0.33%             | 2066-01-25      | Variable      | 1.97%                 | No            |                  2 | On Loan: No      |
| GREENFIRE RESOURCES LTD        | Greenfire Resources Ltd                                                        | CUSIP: 39525UAA5<br>LEI: 254900MTS0G2VGMJW059 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $42255.12     | 0.01%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| HTL Commercial Mortgage Trust  | HTL Commercial Mortgage Trust 2024-T53                                         | CUSIP: 404300AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $309642.30    | 0.07%             | 2039-05-10      | Variable      | 8.47%                 | No            |                  2 | On Loan: No      |
| HELIX ENERGY SOLUTIONS         | Helix Energy Solutions Group Inc                                               | CUSIP: 42330PAL1<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202694.00    | 0.04%             | 2029-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank   | Huntington Bank Auto Credit-Linked Notes Series 2024-1                         | CUSIP: 44644NAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    321958 | PA      | $327067.97    | 0.07%             | 2032-05-20      | Floating      | 9.60%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2021-7                                              | CUSIP: 92538QAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $307279.60    | 0.07%             | 2066-10-25      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2022-7                                              | CUSIP: 92539NAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1091845.70   | 0.24%             | 2067-07-25      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2024-10                                             | CUSIP: 46658LBR1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3532026 | PA      | $3366995.14   | 0.75%             | 2055-03-25      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN        | Jane Street Group / JSG Finance Inc                                            | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $98376.97     | 0.02%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO       | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                     | CUSIP: 47214BAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     93000 | PA      | $100895.61    | 0.02%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LendingPoint Asset Securitizat | Lendingpoint 2022-B Asset Securitization Trust                                 | CUSIP: 52606WAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $23870.16     | 0.01%             | 2029-10-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2025-VTT                                 | CUSIP: 94990GAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1490038.50   | 0.33%             | 2038-03-15      | Variable      | 7.14%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust               | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                                        | CUSIP: 403956AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $200712.60    | 0.04%             | 2037-05-15      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| LendingPoint Asset Securitizat | Lendingpoint 2021-B Asset Securitization Trust                                 | CUSIP: 52607HAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    228440 | PA      | $221664.38    | 0.05%             | 2029-02-15      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| MERCER INTL INC                | Mercer International Inc                                                       | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |    100000 | PA      | $82386.56     | 0.02%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC              | Herc Holdings Inc                                                              | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494533.45    | 0.11%             | 2029-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing LLC                                                    | CUSIP: 42806MAR0<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $943242.40    | 0.21%             | 2028-06-26      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| iShares iBoxx $ High Yield Cor | iShares iBoxx $ High Yield Corporate Bond ETF                                  | CUSIP: 464288513<br>LEI: 549300FCCXHK7O37PQ68 | Long             | EC               | RF                | US        |     62300 | NS      | $4896780.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2020-3                                                | CUSIP: 46592ABZ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    334790 | PA      | $298434.92    | 0.07%             | 2050-08-25      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust Series 2025-CES2                                      | CUSIP: 46595TAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1530235.50   | 0.34%             | 2055-06-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2024-1                                              | CUSIP: 46657PBD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2285608 | PA      | $1511666.85   | 0.34%             | 2054-06-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC          | Molina Healthcare Inc                                                          | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99313.62     | 0.02%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2017-5                                     | CUSIP: 64828NAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    256848 | PA      | $254555.08    | 0.06%             | 2057-06-25      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC           | Keurig Dr Pepper Inc                                                           | CUSIP: 49271VAV2<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203212.34    | 0.05%             | 2034-03-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust         | Marlette Funding Trust 2023-1                                                  | CUSIP: 57110PAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3050806.80   | 0.68%             | 2033-04-15      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2022-SFR2                                  | CUSIP: 64830RAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $667447.20    | 0.15%             | 2039-09-04      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust       | Octane Receivables Trust 2023-1                                                | CUSIP: 67571BAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2061789.60   | 0.46%             | 2030-08-20      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HESS CORP                      | Hess Corp                                                                      | CUSIP: 023551AM6<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |    100000 | PA      | $112386.25    | 0.02%             | 2033-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                 | Barings Clo Ltd 2023-I                                                         | CUSIP: 06763EAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005474.00   | 0.22%             | 2036-04-20      | Floating      | 12.27%                | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust             | ADMT 2024-NQM6                                                                 | CUSIP: 00249YAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1184805.00   | 0.26%             | 2070-01-25      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS         | Adient Global Holdings Ltd                                                     | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    100000 | PA      | $94840.32     | 0.02%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Lt | Benefit Street Partners CLO VIII Ltd                                           | CUSIP: 08180XAW2<br>LEI: 549300D98ZLKNSI8CN63 | Long             | ABS-CBDO         | CORP              | KY        |   1550000 | PA      | $1541771.05   | 0.34%             | 2031-01-20      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| CSX CORP                       | CSX Corp                                                                       | CUSIP: 126408GK3<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    100000 | PA      | $107350.82    | 0.02%             | 2037-05-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust       | Octane Receivables Trust 2024-RVM1                                             | CUSIP: 67579FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1499919.75   | 0.33%             | 2046-01-22      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                           | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    300000 | PA      | $266351.98    | 0.06%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM       | Advanced Drainage Systems Inc                                                  | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101642.00    | 0.02%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2024-A                                       | CUSIP: 00834BAK3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1010603.60   | 0.22%             | 2029-02-15      | Fixed         | 9.17%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | CSMC 2022-NQM4 Trust                                                           | CUSIP: 12665EAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    202836 | PA      | $203112.53    | 0.05%             | 2067-06-25      | Variable      | 4.82%                 | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP           | Capstone Copper Corp                                                           | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $294986.63    | 0.07%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC       | Agilent Technologies Inc                                                       | CUSIP: 00846UAR2<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144358.21    | 0.03%             | 2034-09-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO            | American Express Co                                                            | CUSIP: 025816DW6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199491.04    | 0.04%             | 2035-07-26      | Variable      | 5.28%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi | CARLYLE US CLO 2023-2 LTD                                                      | CUSIP: 14318HAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005536.00   | 0.22%             | 2036-07-20      | Floating      | 12.44%                | No            |                  2 | On Loan: No      |
| CARS.COM INC                   | Cars.com Inc                                                                   | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294993.27    | 0.07%             | 2028-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC               | Cinemark USA Inc                                                               | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204705.80    | 0.05%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION         | Clydesdale Acquisition Holdings Inc                                            | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204663.46    | 0.05%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                 | Apidos CLO XLVI Ltd                                                            | CUSIP: 03769YAA8<br>LEI: 254900XSALC4GJ58ZP29 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1007237.00   | 0.22%             | 2036-10-24      | Floating      | 12.23%                | No            |                  2 | On Loan: No      |
| Aqua Finance Trust             | Aqua Finance Trust 2021-A                                                      | CUSIP: 03842VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    180000 | PA      | $162389.83    | 0.04%             | 2046-07-17      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC            | Oportun Issuance Trust 2021-B                                                  | CUSIP: 68377GAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    906863 | PA      | $889305.75    | 0.20%             | 2031-05-08      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                                                    | CUSIP: 68389XBE4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133042.01    | 0.03%             | 2035-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2024-INV3 Mortgage Loan Trust                                             | CUSIP: 196919AF1<br>LEI: 2138006GN5HS2TH8G784 | Long             | ABS-MBS          | CORP              | US        |   1420000 | PA      | $1401304.28   | 0.31%             | 2069-09-25      | Variable      | 7.90%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2024-A                                              | CUSIP: 22411CAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5200000 | PA      | $5369079.04   | 1.19%             | 2031-08-15      | Fixed         | 8.42%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC               | Credit Acceptance Corp                                                         | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $294925.50    | 0.07%             | 2030-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| DBSG 2024-ALTA Mortgage Trust  | DBSG 2024-ALTA Mortgage Trust                                                  | CUSIP: 239918AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $408716.80    | 0.09%             | 2037-06-10      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133C4YU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1232366 | PA      | $1253781.13   | 0.28%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133CQ6A8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1048288 | PA      | $1045497.63   | 0.23%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2025-2 LLC                                                                | CUSIP: 69382HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1515630.00   | 0.34%             | 2030-05-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-3                                            | CUSIP: 69544TAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $301425.30    | 0.07%             | 2032-12-15      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN          | Genesis Energy LP / Genesis Energy Finance Corp                                | CUSIP: 37185LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50863.98     | 0.01%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2024-9                                                | CUSIP: 46593DBU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1339000 | PA      | $1166081.54   | 0.26%             | 2055-02-25      | Variable      | 7.01%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Trust 2024-VLT4                                                             | CUSIP: 05612TAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $195520.80    | 0.04%             | 2029-07-15      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Trust 2024-VLT4                                                             | CUSIP: 05612TAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $501031.00    | 0.11%             | 2029-07-15      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | PAGAYA AI Debt Trust 2022-2                                                    | CUSIP: 69546VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    499970 | PA      | $494798.81    | 0.11%             | 2030-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust 2021-5                                          | CUSIP: 69547EAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    141417 | PA      | $137457.37    | 0.03%             | 2029-08-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| PHH ESCROW ISS LCC/PHH C       | PHH Escrow Issuer LLC/PHH Corp                                                 | CUSIP: 716964AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $193670.03    | 0.04%             | 2029-11-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| PowerPay Issuance Trust        | PowerPay Issuance Trust 2024-1                                                 | CUSIP: 73934RAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $306979.53    | 0.07%             | 2039-02-18      | Fixed         | 8.46%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                                            | CUSIP: 46647PDY9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    300000 | PA      | $322312.36    | 0.07%             | 2034-10-23      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                                               | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    200000 | PA      | $192609.92    | 0.04%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lobel Automobile Receivables T | Lobel Automobile Receivables Trust 2023-1                                      | CUSIP: 53946XAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $253926.40    | 0.06%             | 2028-10-16      | Fixed         | 8.31%                 | No            |                  2 | On Loan: No      |
| MSCI INC                       | MSCI Inc                                                                       | CUSIP: 55354GAQ3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    100000 | PA      | $85656.65     | 0.02%             | 2033-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust | CFMT 2024-NR1 LLC                                                              | CUSIP: 12531DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    944752 | PA      | $960880.55    | 0.21%             | 2029-11-25      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX 2024-PALM                                                                   | CUSIP: 05612UAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    259615 | PA      | $259699.24    | 0.06%             | 2037-06-15      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| BIO-RAD LABS                   | Bio-Rad Laboratories Inc                                                       | CUSIP: 090572AQ1<br>LEI: 549300ZC1GPV35XYDK53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90403.74     | 0.02%             | 2032-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust   | DC Trust 2024-HLTN                                                             | CUSIP: 24022FAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $509685.00    | 0.11%             | 2040-04-13      | Variable      | 7.29%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust   | DC Trust 2024-HLTN                                                             | CUSIP: 24022FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $309664.50    | 0.07%             | 2040-04-13      | Variable      | 7.98%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | Ellington Financial Mortgage Trust 2022-4                                      | CUSIP: 268432AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    306374 | PA      | $313984.15    | 0.07%             | 2067-09-25      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2024-3                                     | CUSIP: 30165AAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1255000 | PA      | $1277831.46   | 0.28%             | 2031-10-15      | Fixed         | 7.84%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                  | Carnival Corp                                                                  | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    100000 | PA      | $99517.76     | 0.02%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                  | Carnival Corp                                                                  | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    100000 | PA      | $99216.92     | 0.02%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD               | GGAM Finance Ltd                                                               | CUSIP: 36170JAC0<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $102755.00    | 0.02%             | 2027-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                                             | CUSIP: 36179XVS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    421908 | PA      | $413170.90    | 0.09%             | 2053-03-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD       | Macquarie Airfinance Holdings Ltd                                              | CUSIP: 55609NAD0<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $102803.80    | 0.02%             | 2031-03-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust 2014-150E                                       | CUSIP: 61764BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $260311.50    | 0.06%             | 2032-09-09      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC       | Builders FirstSource Inc                                                       | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99378.44     | 0.02%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BX Commercial Mortgage Trust 2024-AIRC                                         | CUSIP: 12433CAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    291216 | PA      | $292925.88    | 0.07%             | 2039-08-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC          | Caesars Entertainment Inc                                                      | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    270000 | PA      | $249525.47    | 0.06%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD         | Calumet Specialty Products Partners LP / Calumet Finance Corp                  | CUSIP: 131477AW1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $89594.50     | 0.02%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                                             | CUSIP: 36179YKS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    639673 | PA      | $638544.54    | 0.14%             | 2053-11-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2024-RPL4                                  | CUSIP: 362948AF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1318276.50   | 0.29%             | 2061-09-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Prestige Auto Receivables Trus | Prestige Auto Receivables Trust 2022-1                                         | CUSIP: 74113RAL3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25347.89     | 0.01%             | 2028-08-15      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| Purchasing Power Funding       | Purchasing Power Funding 2024-A LLC                                            | CUSIP: 745935AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $203258.84    | 0.05%             | 2028-08-15      | Fixed         | 7.26%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP            | Medline Borrower LP                                                            | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95061.76     | 0.02%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NMI HOLDINGS                   | NMI Holdings Inc                                                               | CUSIP: 629209AC1<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101271.00    | 0.02%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC       | FHF Issuer Trust 2024-3                                                        | CUSIP: 30339EAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1000948.80   | 0.22%             | 2031-12-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3132DT3C2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    900901 | PA      | $885095.17    | 0.20%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2023-N2                                         | CUSIP: 14686LAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1052192.00   | 0.23%             | 2030-04-10      | Fixed         | 9.94%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN       | Clarios Global LP / Clarios US Finance Co                                      | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $305490.00    | 0.07%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN       | Raven Acquisition Holdings LLC                                                 | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $293353.58    | 0.07%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trus | Republic Finance Issuance Trust 2021-A                                         | CUSIP: 76042UAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $192585.44    | 0.04%             | 2031-12-22      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners            | SG Residential Mortgage Trust 2021-2                                           | CUSIP: 78432YAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    910000 | PA      | $621021.31    | 0.14%             | 2061-12-25      | Variable      | 4.04%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg | Saluda Grade Alternative Mortgage Trust 2025-NPL1                              | CUSIP: 79582BAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3127275 | PA      | $3142392.34   | 0.70%             | 2030-01-25      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2023-3 Mortgage Loan Trust                                                | CUSIP: 19688RAE9<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2544267.50   | 0.56%             | 2068-09-25      | Variable      | 7.85%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | Ellington Financial Mortgage Trust 2021-3                                      | CUSIP: 31573JAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1122715.50   | 0.25%             | 2066-09-25      | Variable      | 4.29%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                                                                      | CUSIP: 682680BL6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102647.52    | 0.02%             | 2033-09-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                 | Owens-Brockway Glass Container Inc                                             | CUSIP: 69073TAU7<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    350000 | PA      | $348003.90    | 0.08%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne | PRET 2025-RPL1 Trust                                                           | CUSIP: 69392FAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1394898.00   | 0.31%             | 2069-07-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-3                                            | CUSIP: 69547GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $251048.00    | 0.06%             | 2032-12-15      | Fixed         | 12.63%                | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133CXFX3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    486113 | PA      | $475305.20    | 0.11%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133CYQ68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2483810 | PA      | $2481855.29   | 0.55%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                   | Magnera Corp                                                                   | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |    280000 | PA      | $244347.60    | 0.05%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                                                    | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    200000 | PA      | $176443.53    | 0.04%             | 2033-02-24      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                  | J M Smucker Co/The                                                             | CUSIP: 832696AX6<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    200000 | PA      | $213459.27    | 0.05%             | 2033-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd               | Symphony CLO 34-PS Ltd                                                         | CUSIP: 87170RAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |   1250000 | PA      | $1255622.50   | 0.28%             | 2036-07-24      | Floating      | 12.43%                | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK        | Great Lakes Dredge & Dock Corp                                                 | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |    175000 | PA      | $159938.68    | 0.04%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust | HLTN Commercial Mortgage Trust 2024-DPLO                                       | CUSIP: 40424UAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $292512.30    | 0.06%             | 2041-06-15      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2014-2                                                | CUSIP: 46641YAQ6<br>LEI: 549300BV8AJIRLDGMR51 | Long             | ABS-MBS          | CORP              | US        |     21186 | PA      | $20546.05     | 0.00%             | 2029-06-25      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP            | Kinetik Holdings LP                                                            | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97807.50     | 0.02%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC          | PennyMac Financial Services Inc                                                | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    125000 | PA      | $119182.18    | 0.03%             | 2031-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC              | Post Holdings Inc                                                              | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99125.82     | 0.02%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Prosper Marketplace Issuance T | Prosper Marketplace Issuance Trust Series 2024-1                               | CUSIP: 74363CAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $524887.20    | 0.12%             | 2029-08-15      | Fixed         | 10.98%                | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-2 LLC                                                                | CUSIP: 74448BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    842896 | PA      | $861219.51    | 0.19%             | 2029-03-25      | Variable      | 7.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                               | CUSIP: 3133WAZG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2919306 | PA      | $2792138.57   | 0.62%             | 2054-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fortress Credit Opportunities  | Fortress Credit Opportunities XXIX CLO Ltd                                     | CUSIP: 34990EAJ9<br>LEI: 254900314MCCPONEEQ30 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2490625.00   | 0.55%             | 2033-04-20      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC              | Lithia Motors Inc                                                              | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185929.40    | 0.04%             | 2029-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust       | Foundation Finance Trust 2021-1                                                | CUSIP: 35041LAD2<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |     78035 | PA      | $74923.48     | 0.02%             | 2041-05-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE         | Brundage-Bone Concrete Pumping Holdings Inc                                    | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $293052.91    | 0.07%             | 2032-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TREEHOUSE FOODS INC            | TreeHouse Foods Inc                                                            | CUSIP: 89469AAD6<br>LEI: 5493007M7EVHE470Q576 | Long             | DBT              | CORP              | US        |    100000 | PA      | $89827.38     | 0.02%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                  | Coherent Corp                                                                  | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    300000 | PA      | $287627.31    | 0.06%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-RCF4 LLC                                                             | CUSIP: 74448JAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1850000 | PA      | $1729718.55   | 0.38%             | 2054-07-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                            | US 5YR NOTE (CBT) Jun25                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -151 | NC      | $-134333.26   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Kinetic Advantage Master Owner | Kinetic Advantage Master Owner Trust                                           | CUSIP: 49462DAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501819.30    | 0.11%             | 2027-11-15      | Floating      | 6.99%                 | No            |                  2 | On Loan: No      |
| KROGER CO                      | Kroger Co/The                                                                  | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98053.21     | 0.02%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                   | UBS Group AG                                                                   | CUSIP: 902613BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $204763.16    | 0.05%             | 2035-02-08      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                 | Lowe's Cos Inc                                                                 | CUSIP: 548661EQ6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150759.35    | 0.03%             | 2033-07-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust         | Marlette Funding Trust 2022-3                                                  | CUSIP: 57109NAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2636000 | PA      | $2660763.11   | 0.59%             | 2032-11-15      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Ginnie Mae II Pool                                                             | CUSIP: 36179YDK7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2900465 | PA      | $2895348.69   | 0.64%             | 2053-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2024-PJ8                                   | CUSIP: 36272LCT3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1262000 | PA      | $1122649.96   | 0.25%             | 2055-02-25      | Variable      | 6.91%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr | Goodleap Sustainable Home Solutions Trust 2023-2                               | CUSIP: 38237AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $64777.02     | 0.01%             | 2055-05-20      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| MOLSON COORS BEVERAGE          | Molson Coors Beverage Co                                                       | CUSIP: 60871RAH3<br>LEI: 54930073LBBH6ZCBE225 | Long             | DBT              | CORP              | US        |    100000 | PA      | $79910.69     | 0.02%             | 2046-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Momnt Technologies Trust       | Momnt Technologies Trust 2023-1                                                | CUSIP: 608934AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $98038.63     | 0.02%             | 2045-03-20      | Fixed         | 8.29%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr | GoodLeap Sustainable Home Solutions Trust 2022-3                               | CUSIP: 38237TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    156320 | PA      | $141792.21    | 0.03%             | 2049-07-20      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                                        | CUSIP: 404121AK1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99273.68     | 0.02%             | 2034-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP            | Meritage Homes Corp                                                            | CUSIP: 59001ABG6<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97645.00     | 0.02%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Momnt Technologies Trust       | Momnt Technologies Trust 2023-1                                                | CUSIP: 608934AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $97407.85     | 0.02%             | 2045-03-20      | Fixed         | 11.24%                | No            |                  2 | On Loan: No      |
| NUCOR CORP                     | Nucor Corp                                                                     | CUSIP: 670346BA2<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98191.93     | 0.02%             | 2035-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Oaktown Re Ltd                 | Oaktown Re VII Ltd                                                             | CUSIP: 67389JAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   1765418 | PA      | $1785944.14   | 0.40%             | 2034-04-25      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust       | Octane Receivables Trust 2024-RVM1                                             | CUSIP: 67579FAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $498911.10    | 0.11%             | 2046-01-22      | Fixed         | 8.42%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-RCF1 LLC                                                             | CUSIP: 693581AD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $236595.00    | 0.05%             | 2054-01-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2022-NQM1 Trust                                                           | CUSIP: 69378KAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1474741.50   | 0.33%             | 2067-08-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust 2021-1                                          | CUSIP: 69547JAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8805 | PA      | $8615.76      | 0.00%             | 2027-11-15      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC        | O'Reilly Automotive Inc                                                        | CUSIP: 67103HAL1<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147132.17    | 0.03%             | 2032-06-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| OLIN CORP                      | Olin Corp                                                                      | CUSIP: 680665AN6<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95010.20     | 0.02%             | 2033-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT         | HAT Holdings I LLC / HAT Holdings II LLC                                       | CUSIP: 418751AD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $87959.87     | 0.02%             | 2030-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                 | Hertz Corp/The                                                                 | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48680.76     | 0.01%             | 2029-07-15      | Fixed         | 12.62%                | No            |                  2 | On Loan: No      |
| Oportun Funding LLC            | Oportun Issuance Trust 2022-3                                                  | CUSIP: 68378PAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30098 | PA      | $30141.89     | 0.01%             | 2030-01-08      | Fixed         | 10.15%                | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2023-8                                                    | CUSIP: 694960AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    621378 | PA      | $638496.94    | 0.14%             | 2031-06-16      | Fixed         | 9.54%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2021-J2 Trust                                                              | CUSIP: 670861AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1552259 | PA      | $1264381.70   | 0.28%             | 2051-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC             | PBF Holding Co LLC / PBF Finance Corp                                          | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $176717.08    | 0.04%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-1                                            | CUSIP: 69548VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $980629.80    | 0.22%             | 2032-07-15      | Fixed         | 10.08%                | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER          | Panther Escrow Issuer LLC                                                      | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $205068.00    | 0.05%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-11                                           | CUSIP: 69548EAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    799908 | PA      | $793805.85    | 0.18%             | 2032-07-15      | Fixed         | 10.33%                | No            |                  2 | On Loan: No      |
| Pikes Peak CLO                 | Pikes Peak CLO 14 2023 Ltd                                                     | CUSIP: 72134DAA7<br>LEI: 213800AO7LGLGDRRY278 | Long             | ABS-CBDO         | CORP              | JE        |    400000 | PA      | $403582.40    | 0.09%             | 2036-04-20      | Floating      | 12.85%                | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC         | Philip Morris International Inc                                                | CUSIP: 718172DJ5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101055.31    | 0.02%             | 2034-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                     | Phinia Inc                                                                     | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101192.42    | 0.02%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Prestige Auto Receivables Trus | Prestige Auto Receivables Trust 2024-1                                         | CUSIP: 74113QAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $306478.98    | 0.07%             | 2031-04-15      | Fixed         | 7.94%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne | PRET 2024-NPL4 LLC                                                             | CUSIP: 74143RAA1<br>LEI: 254900OXVJK5CT5B2O86 | Long             | ABS-MBS          | CORP              | US        |    927464 | PA      | $940523.73    | 0.21%             | 2054-07-25      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE       | Perrigo Finance Unlimited Co                                                   | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $198659.78    | 0.04%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne | PRET 2024-NPL7 LLC                                                             | CUSIP: 74136TAA6<br>LEI: 254900640HC5OZKI7J87 | Long             | ABS-MBS          | CORP              | US        |    949806 | PA      | $959143.43    | 0.21%             | 2054-10-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2023-SFR2 Trust                                           | CUSIP: 74331GAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $194132.60    | 0.04%             | 2040-10-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-7 LLC                                                                | CUSIP: 74448LAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    907553 | PA      | $911192.61    | 0.20%             | 2029-11-25      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Purchasing Power Funding       | Purchasing Power Funding 2024-A LLC                                            | CUSIP: 745935AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $204246.88    | 0.05%             | 2028-08-15      | Fixed         | 10.18%                | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                           | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95718.50     | 0.02%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC          | Quikrete Holdings Inc                                                          | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200923.17    | 0.04%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management    | RCKT Mortgage Trust 2022-4                                                     | CUSIP: 74938GAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2512858 | PA      | $2203771.09   | 0.49%             | 2052-06-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| RTX CORP                       | RTX Corp                                                                       | CUSIP: 75513ECW9<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    150000 | PA      | $161314.82    | 0.04%             | 2034-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Reach Financial LLC            | Reach ABS Trust 2024-2                                                         | CUSIP: 75525HAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $615111.60    | 0.14%             | 2031-07-15      | Fixed         | 8.83%                 | No            |                  2 | On Loan: No      |
| Reach Financial LLC            | LL ABS Trust 2022-2                                                            | CUSIP: 75526GAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40361 | PA      | $40511.62     | 0.01%             | 2030-05-15      | Fixed         | 8.40%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trus | Republic Finance Issuance Trust 2024-A                                         | CUSIP: 76041RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $409892.36    | 0.09%             | 2032-08-20      | Fixed         | 7.28%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trus | Republic Finance Issuance Trust 2024-A                                         | CUSIP: 76041RAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $256798.33    | 0.06%             | 2032-08-20      | Fixed         | 9.49%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC            | Resideo Funding Inc                                                            | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124154.73    | 0.03%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC         | Roper Technologies Inc                                                         | CUSIP: 776743AL0<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    150000 | PA      | $126823.18    | 0.03%             | 2031-02-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners            | SG Residential Mortgage Trust 2021-2                                           | CUSIP: 78432YAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    571864 | PA      | $488452.69    | 0.11%             | 2061-12-25      | Variable      | 1.94%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg | Saluda Grade Alternative Mortgage Trust 2023-FIG3                              | CUSIP: 79582AAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    724669 | PA      | $743364.45    | 0.17%             | 2053-08-25      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin | Santander Bank Auto Credit-Linked Notes Series 2024-A                          | CUSIP: 80290CCN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    276609 | PA      | $282243.60    | 0.06%             | 2032-06-15      | Fixed         | 10.17%                | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential  | Starwood Mortgage Residential Trust 2019-INV1                                  | CUSIP: 85572JAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $466031.39    | 0.10%             | 2049-09-27      | Variable      | 3.66%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd          | Sycamore Tree CLO 2024-5 Ltd                                                   | CUSIP: 87122QAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1999164.00   | 0.44%             | 2036-04-20      | Floating      | 11.76%                | No            |                  2 | On Loan: No      |
| US FOODS INC                   | US Foods Inc                                                                   | CUSIP: 90290MAH4<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104736.00    | 0.02%             | 2032-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                                   | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96859.44     | 0.02%             | 2027-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC         | Venture Global LNG Inc                                                         | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | EP               | CORP              | US        |     35000 | PA      | $30115.92     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2022-3                                              | CUSIP: 92538UAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2128957 | PA      | $2003172.06   | 0.44%             | 2067-02-25      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2023-INV1                                           | CUSIP: 92539FAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    474984 | PA      | $484015.75    | 0.11%             | 2068-02-25      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2023-INV1                                           | CUSIP: 92539FAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    126000 | PA      | $129103.51    | 0.03%             | 2068-02-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust Series 2024-CES2                              | CUSIP: 92841YAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $498454.00    | 0.11%             | 2054-10-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| WARRIOR MET COAL INC           | Warrior Met Coal Inc                                                           | CUSIP: 93627CAB7<br>LEI: 549300152B1S9YKBYV79 | Long             | DBT              | CORP              | US        |    108000 | PA      | $109071.47    | 0.02%             | 2028-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                                               | CUSIP: 95000U3F8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304193.25    | 0.07%             | 2034-07-25      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO       | Wildfire Intermediate Holdings LLC                                             | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91750.00     | 0.02%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NRZ Excess Spread Collateraliz | NRM FHT1 Excess Owner LLC                                                      | CUSIP: 64832EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1003493.00   | 0.22%             | 2032-03-25      | Variable      | 6.54%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust       | Octane Receivables Trust 2024-1                                                | CUSIP: 67571FAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $894136.86    | 0.20%             | 2031-08-20      | Fixed         | 7.82%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust       | Octane Receivables Trust 2024-2                                                | CUSIP: 67578YAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2059902.00   | 0.46%             | 2032-07-20      | Fixed         | 9.04%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I       | Performance Food Group Inc                                                     | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142176.50    | 0.03%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2022-8                                              | CUSIP: 924922AC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    312413 | PA      | $314245.52    | 0.07%             | 2067-09-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2022-INV1                                           | CUSIP: 92539JAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1488720.00   | 0.33%             | 2067-08-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| WFLD MORTGAGE TRUST            | WFLD 2014-MONT Mortgage Trust                                                  | CUSIP: 92939GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    276545 | PA      | $266648.98    | 0.06%             | 2031-08-10      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC          | Williams Scotsman Inc                                                          | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203831.04    | 0.05%             | 2030-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-26

**Name of Applicant:** Angel Oak Funds Trust

**Signature:** /s/ Michael Colombo

**Name of Signer:** Michael Colombo

**Title:** Secretary