# EDGAR Filing Document

**Accession Number:** 0001649227
**File Stem:** 0002048251-26-004474
**Filing Date:** 2026-5
**Character Count:** 119040
**Document Hash:** 40f66e3070f61868ab6755844320eb3b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004474.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0002048251-26-004474

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23080
- **FILM NUMBER:** 261041589

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS

---

| | | |
|:---|:---|:---|
| **Description** | **Face <br> Amount** | **Market** <br> **Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS - 92.4%** |  |  |
| **FHLMC Multifamily - 27.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2021-P009, 1.13%, 01/25/2031 | $248942 | $234702 |
| &nbsp;&nbsp;&nbsp;&nbsp;K123, 1.62%, 12/25/2030 | 1500000 | 1337241 |
| &nbsp;&nbsp;&nbsp;&nbsp;2021-P009, 1.88%, 01/25/2031 | 1000000 | 901755 |
| &nbsp;&nbsp;&nbsp;&nbsp;KSG2, 2.09%, 11/25/2031 (a) | 1000000 | 887634 |
| &nbsp;&nbsp;&nbsp;&nbsp;K141, 2.25%, 02/25/2032 | 4800000 | 4291548 |
| &nbsp;&nbsp;&nbsp;&nbsp;K145, 2.65%, 11/25/2031 | 1697855 | 1611726 |
| &nbsp;&nbsp;&nbsp;&nbsp;KSG3, 2.65%, 05/25/2032 (a) | 2000000 | 1812669 |
| &nbsp;&nbsp;&nbsp;&nbsp;2022-P013, 2.76%, 02/25/2032 (a) | 2000000 | 1827131 |
| &nbsp;&nbsp;&nbsp;&nbsp;M071, 3.97%, SOFR30A + 0.300%, 08/15/2040 (a) | 3915345 | 3894696 |
| &nbsp;&nbsp;&nbsp;&nbsp;K158, 4.05%, 07/25/2033 | 5200000 | 5065401 |
| &nbsp;&nbsp;&nbsp;&nbsp;K556, 4.16%, SOFR30A + 0.490%, 12/25/2030 (a) | 4999944 | 4994115 |
| &nbsp;&nbsp;&nbsp;&nbsp;K540, 4.19%, SOFR30A + 0.520%, 11/25/2029 (a) | 997865 | 995567 |
| &nbsp;&nbsp;&nbsp;&nbsp;K542, 4.20%, SOFR30A + 0.530%, 01/25/2030 (a) | 1997238 | 1993425 |
| &nbsp;&nbsp;&nbsp;&nbsp;KF169, 4.23%, SOFR30A + 0.560%, 11/25/2035 (a) | 1500000 | 1508708 |
| &nbsp;&nbsp;&nbsp;&nbsp;KF141, 4.24%, SOFR30A + 0.570%, 07/25/2032 (a) | 3366864 | 3379010 |
| &nbsp;&nbsp;&nbsp;&nbsp;KF164, 4.24%, SOFR30A + 0.570%, 10/25/2034 (a) | 859059 | 857938 |
| &nbsp;&nbsp;&nbsp;&nbsp;K526, 4.27%, SOFR30A + 0.600%, 06/25/2029 (a) | 2991965 | 2990616 |
| &nbsp;&nbsp;&nbsp;&nbsp;KF168, 4.28%, SOFR30A + 0.610%, 08/25/2035 (a) | 999989 | 1002771 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-ML31, 4.28%, 06/25/2042 (a) | 1995156 | 2040822 |
| &nbsp;&nbsp;&nbsp;&nbsp;177, 4.30%, 01/25/2036 (a) | 3000000 | 2924108 |
| &nbsp;&nbsp;&nbsp;&nbsp;KJ53, 4.37%, SOFR30A + 0.700%, 10/25/2034 (a) | 2902877 | 2899730 |
| &nbsp;&nbsp;&nbsp;&nbsp;K761, 4.40%, 06/25/2032 (a) | 2000000 | 2000455 |
| &nbsp;&nbsp;&nbsp;&nbsp;K171, 4.40%, 06/25/2035 (a) | 3300000 | 3250912 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-ML29, 4.40%, 01/25/2043 (a) | 1988148 | 2068500 |
| &nbsp;&nbsp;&nbsp;&nbsp;K547, 4.42%, 05/25/2030 (a) | 2000000 | 2012587 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-ML30, 4.44%, 07/25/2042 (a) | 2982685 | 3109470 |
| &nbsp;&nbsp;&nbsp;&nbsp;K760, 4.55%, 01/25/2032 (a) | 1000000 | 1009447 |
| &nbsp;&nbsp;&nbsp;&nbsp;K172, 4.58%, 08/25/2035 (a) | 5000000 | 4990107 |
| &nbsp;&nbsp;&nbsp;&nbsp;Q030, 4.61%, SOFR30A + 0.940%, 01/25/2044 (a) | 2913662 | 2907308 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-P016, 4.62%, 09/25/2033 (a) | 1000000 | 1005391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Q027, 4.66%, 08/25/2031 | 2000000 | 2006866 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

---

| | | |
|:---|:---|:---|
| **Description** | **Face <br> Amount** | **Market <br> Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;K169, 4.66%, 12/25/2034 (a) | $1000000 | $1006448 |
| &nbsp;&nbsp;&nbsp;&nbsp;K759, 4.80%, 01/25/2032 (a) | 6500000 | 6639225 |
| &nbsp;&nbsp;&nbsp;&nbsp;K170, 5.00%, 02/25/2035 (a) | 7800000 | 8031000 |
|  |  | 87489029 |
| **FHLMC Single Family - 15.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RA5346, 2.00%, 05/01/2051 | 898491 | 734534 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool Q41874, 3.00%, 07/01/2046 | 901952 | 819184 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RA1853, 3.00%, 12/01/2049 | 547600 | 489554 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WA4823, 3.08%, 02/01/2050 | 5531751 | 4217642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WA0500, 3.48%, 03/01/2047 | 2199738 | 1903707 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WN5283, 3.85%, 09/01/2029 | 2000000 | 1975671 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WA3194, 3.90%, 07/01/2037 | 1437070 | 1344884 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WN2253, 4.00%, 09/01/2032 | 1000000 | 972216 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WA4839, 4.00%, 01/01/2054 | 1616125 | 1358635 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WA3283, 4.09%, 06/01/2039 | 2455977 | 2295546 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WN5065, 4.20%, 08/01/2029 | 2000000 | 1997680 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WN5231, 4.25%, 02/01/2030 | 3000000 | 2999129 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WA1648, 4.50%, 04/01/2035 | 990234 | 983235 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5624, 4.50%, 12/01/2055 | 854272 | 829025 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WN5213, 4.75%, 01/01/2030 | 998485 | 1002386 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WA2241, 4.75%, 11/01/2040 | 5425281 | 5406687 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WN0179, 4.75%, 01/01/2045 | 4000000 | 3789642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WS4017, 4.95%, 07/01/2040 | 1473310 | 1460519 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5623, 5.00%, 12/01/2055 | 1095536 | 1089767 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5636, 5.00%, 12/01/2055 | 693317 | 686176 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5639, 5.00%, 12/01/2055 | 741010 | 737678 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5640, 5.00%, 12/01/2055 | 1146470 | 1140433 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5691, 5.00%, 01/01/2056 | 594238 | 591407 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5959, 5.00%, 01/01/2056 | 1009568 | 1002853 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5960, 5.00%, 01/01/2056 | 1841911 | 1842702 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5695, 5.00%, 02/01/2056 | 574366 | 572315 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5723, 5.00%, 03/01/2056 | 1018626 | 1014046 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

---

| | | |
|:---|:---|:---|
| **Description** | **Face <br> Amount** | **Market <br> Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ6299, 5.00%, 03/01/2056 | $1062552 | $1060719 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool WA4853, 5.25%, 05/01/2055 | 994499 | 966623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5015, 5.50%, 10/01/2055 | 1828706 | 1863439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5178, 5.50%, 11/01/2055 | 577181 | 585743 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5637, 5.50%, 12/01/2055 | 605498 | 615147 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5638, 5.50%, 12/01/2055 | 539040 | 547630 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ5724, 5.50%, 02/01/2056 | 548316 | 556858 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ0241, 6.00%, 10/01/2053 | 558438 | 579482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool RJ2692, 6.00%, 09/01/2054 | 651136 | 672557 |
|  |  | 50705451 |
| **FNMA Multifamily - 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2023-M5, 4.40%, 07/25/2033 (a) | 5000000 | 4957488 |
| **FNMA Single Family - 22.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BL7673, 1.57%, 08/01/2037 | 1794682 | 1369983 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BS0345, 1.61%, 01/01/2036 | 883497 | 705540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BS4297, 1.99%, 08/01/2027 | 218091 | 212018 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CA7479, 2.00%, 10/01/2050 | 330247 | 268195 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CA8444, 2.00%, 12/01/2050 | 774980 | 635223 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB0268, 2.00%, 04/01/2051 (b) | 2800970 | 2289887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BT0120, 2.00%, 05/01/2051 | 1017040 | 831430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB2317, 2.00%, 12/01/2051 | 993825 | 807287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB2738, 2.50%, 01/01/2052 | 4297781 | 3636493 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB2739, 2.50%, 01/01/2052 | 579528 | 493992 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB2830, 2.50%, 02/01/2052 | 928970 | 792698 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BC0962, 3.00%, 06/01/2046 | 220248 | 202196 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool AS7476, 3.00%, 07/01/2046 | 328282 | 298365 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool AS7647, 3.00%, 07/01/2046 | 532644 | 485438 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool AS7653, 3.00%, 07/01/2046 | 822208 | 741916 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool AN5657, 3.30%, 07/01/2032 | 328674 | 311884 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool AN7888, 3.30%, 12/01/2034 | 3150292 | 2894145 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool AS8734, 3.50%, 01/01/2047 | 525089 | 490755 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

---

| | | |
|:---|:---|:---|
| **Description** | **Face** <br> **Amount** | **Market** <br> **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BS6491, 3.75%, 08/01/2032 | $2444000 | $2363122 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CA1985, 4.00%, 06/01/2048 | 224135 | 214285 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BS8180, 4.08%, 04/01/2028 | 990246 | 988045 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ4203, 4.26%, 06/01/2030 | 1000000 | 1000131 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ5493, 4.35%, 11/01/2030 | 2574000 | 2583925 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ4388, 4.41%, 07/01/2032 | 1000000 | 1001142 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ3372, 4.43%, 03/01/2030 | 2000000 | 2008621 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ2242, 4.50%, 11/01/2034 | 4939697 | 4921059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BS7623, 4.52%, 01/01/2033 | 5000000 | 5017652 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ3883, 4.54%, 05/01/2032 | 1300000 | 1307709 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ1150, 4.55%, 06/01/2031 | 400000 | 403896 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ4222, 4.69%, 06/01/2030 | 1981300 | 2007608 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ3471, 4.71%, 04/01/2032 | 1000000 | 1010871 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ6128, 4.80%, 01/01/2036 | 1346823 | 1355704 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BS7108, 4.83%, 12/01/2032 | 2644040 | 2704401 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ0567, 4.94%, 05/01/2034 | 1000000 | 1021141 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC1630, 5.00%, 12/01/2055 | 1899644 | 1898998 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC2113, 5.00%, 02/01/2056 | 1924412 | 1923757 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC2114, 5.00%, 02/01/2056 | 1062384 | 1055318 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC2144, 5.00%, 03/01/2056 | 1006085 | 1002800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC2146, 5.00%, 03/01/2056 | 1086542 | 1077977 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC2272, 5.00%, 03/01/2056 | 3085204 | 3079880 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC2299, 5.00%, 04/01/2056 | 1364315 | 1353560 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ0271, 5.05%, 01/01/2040 | 1973393 | 2017972 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ0597, 5.10%, 03/01/2040 | 1977356 | 2024274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool BS8987, 5.15%, 07/01/2040 | 1075562 | 1087752 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB7245, 5.50%, 09/01/2053 | 750638 | 764939 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB8111, 5.50%, 03/01/2054 | 1209043 | 1232481 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC1382, 5.50%, 10/01/2055 | 1236662 | 1259394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC2307, 5.50%, 03/01/2056 | 2323234 | 2374465 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB7935, 6.00%, 01/01/2054 | 824526 | 854801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB8085, 6.00%, 02/01/2054 | 849353 | 880021 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

---

| | | |
|:---|:---|:---|
| **Description** | **Face <br> Amount** | **Market <br> Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CB9112, 6.00%, 08/01/2054 | $1044172 | $1082514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool CC1359, 6.00%, 10/01/2055 | 1198853 | 1245778 |
|  |  | 73593438 |
| **FRESB Multifamily - 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2020-SB77, 1.12%, 06/25/2040 (a) | 1360126 | 1306736 |
| &nbsp;&nbsp;&nbsp;&nbsp;2021-SB84, 1.49%, 01/25/2031 (a) | 1572307 | 1385372 |
| &nbsp;&nbsp;&nbsp;&nbsp;2021-SB93, 1.50%, 09/25/2041 (a) | 829152 | 817209 |
| &nbsp;&nbsp;&nbsp;&nbsp;2021-SB93, 1.60%, 10/25/2028 (a) | 775920 | 727773 |
| &nbsp;&nbsp;&nbsp;&nbsp;2020-SB71, 2.21%, 12/25/2029 (a) | 1161411 | 1075876 |
| &nbsp;&nbsp;&nbsp;&nbsp;2020-SB71, 2.25%, 12/25/2039 (a) | 727816 | 663212 |
| &nbsp;&nbsp;&nbsp;&nbsp;2019-SB68, 2.42%, 09/25/2029 (a) | 1472115 | 1371764 |
| &nbsp;&nbsp;&nbsp;&nbsp;2018-SB57, 3.88%, 08/25/2038 (a) | 1145113 | 1119554 |
| &nbsp;&nbsp;&nbsp;&nbsp;2020-SB71, 4.48%, SOFR30A + 0.814%, 11/25/2039 (a) | 670435 | 667065 |
| &nbsp;&nbsp;&nbsp;&nbsp;2020-SB76, 4.48%, SOFR30A + 0.814%, 04/25/2040 (a) | 966047 | 960949 |
| &nbsp;&nbsp;&nbsp;&nbsp;2020-SB80, 4.48%, SOFR30A + 0.814%, 09/25/2040 (a) | 1360198 | 1356170 |
| &nbsp;&nbsp;&nbsp;&nbsp;2026-SB126, 4.53%, 12/25/2035 (a) | 1999203 | 1968960 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-SB116, 4.68%, 09/25/2031 (a) | 1854473 | 1862710 |
|  |  | 15283350 |
| **GNMA Multifamily - 20.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2021-183, 1.75%, 01/16/2063 | 1364663 | 1047355 |
| &nbsp;&nbsp;&nbsp;&nbsp;2023-145, 2.50%, 09/16/2065 | 3734960 | 3063586 |
| &nbsp;&nbsp;&nbsp;&nbsp;2017-135, 2.60%, 08/16/2058 | 476475 | 410924 |
| &nbsp;&nbsp;&nbsp;&nbsp;2017-74, 2.60%, 09/16/2058 | 383318 | 324689 |
| &nbsp;&nbsp;&nbsp;&nbsp;2023-92, 3.50%, 10/16/2062 (a) | 3793561 | 3571599 |
| &nbsp;&nbsp;&nbsp;&nbsp;2023-74, 4.00%, 10/16/2055 | 1646688 | 1588291 |
| &nbsp;&nbsp;&nbsp;&nbsp;2023-44, 4.00%, 08/16/2056 | 2843196 | 2706155 |
| &nbsp;&nbsp;&nbsp;&nbsp;2023-16, 4.00%, 07/16/2063 (a) | 1907889 | 1853602 |
| &nbsp;&nbsp;&nbsp;&nbsp;2023-191, 4.00%, 05/16/2064 (a) | 2311531 | 2205008 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-12, 4.25%, 11/16/2036 | 1733632 | 1672979 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

---

| | | |
|:---|:---|:---|
| **Description** | **Face** <br> **Amount** | **Market** <br> **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-158, 4.50%, 09/16/2057 | $1922548 | $1851718 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-217, 4.50%, 01/16/2058 | 1395762 | 1381200 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-153, 4.50%, 03/16/2065 | 2403923 | 2383534 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-12, 4.50%, 05/16/2065 (a) | 2992111 | 2893787 |
| &nbsp;&nbsp;&nbsp;&nbsp;16, 4.50%, 06/16/2067 (a) | 3241926 | 3132105 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-153, 4.65%, 12/16/2039 | 341444 | 337835 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-54, 4.65%, 06/16/2040 (a) | 1567439 | 1565576 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-18, 4.65%, 01/16/2057 | 469678 | 464528 |
| &nbsp;&nbsp;&nbsp;&nbsp;55, 4.75%, 04/16/2056 | 2000000 | 1986920 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-213, 4.75%, 03/16/2057 | 1993844 | 1986949 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-17, 4.75%, 05/16/2058 (a) | 493496 | 489841 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-184, 4.75%, 06/16/2058 (a) | 995455 | 989513 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-182, 4.75%, 05/16/2067 (a) | 4992211 | 4870141 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-16, 4.85%, 10/01/2037 | 2328706 | 2323634 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-40, 5.00%, 08/16/2057 | 1087170 | 1087204 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-193, 5.00%, 04/16/2062 | 3689216 | 3677206 |
| &nbsp;&nbsp;&nbsp;&nbsp;2023-162, 5.00%, 03/16/2064 (a) | 2353128 | 2445894 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-54, 5.00%, 02/15/2065 (a) | 1731864 | 1700702 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-122, 5.00%, 05/16/2065 (a) | 1928240 | 1893231 |
| &nbsp;&nbsp;&nbsp;&nbsp;2024-72, 5.00%, 05/16/2065 (a) | 967991 | 944236 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-16, 5.00%, 06/01/2065 | 2769223 | 2758804 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-109, 5.00%, 08/16/2066 | 3000000 | 2909476 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025-126, 5.55%, 05/16/2067 (a) | 2970418 | 3074480 |
|  |  | 65592702 |
| **GNMA Single Family - 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool G2 AU1835, 3.00%, 08/20/2046 | 300804 | 268695 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pool G2 AU1762, 3.50%, 07/20/2046 | 198344 | 183281 |
|  |  | 451976 |
| **TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS** |  |  |
| **(COST $302,799,233)** |  | 298073434 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

---

| | | |
|:---|:---|:---|
| **Description** | **Face** <br> **Amount** | **Market** <br> **Value** |
| **MUNICIPAL BONDS - 3.3%** |  |  |
| **Colorado - 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Colorado, Housing and Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.17%, 11/01/2030 | $440000 | $470810 |
| **Florida - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Florida, Housing Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.64%, 01/01/2028 | 565000 | 571503 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.84%, 01/01/2029 | 95000 | 96936 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.03%, 07/01/2030 | 95000 | 97983 |
| &nbsp;&nbsp;&nbsp;&nbsp;Miami-Dade County, Housing Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 08/01/2030 | 570000 | 566615 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.60%, 02/01/2042 | 500000 | 491350 |
|  |  | 1824387 |
| **Maryland - 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Maryland, Department of Housing & Community |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Development, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.34%, 03/01/2027 | 300000 | 301140 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.34%, 09/01/2027 | 250000 | 251284 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.35%, 09/01/2026 | 200000 | 200351 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.36%, 03/01/2028 | 350000 | 352179 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 03/01/2055 | 1460000 | 1523738 |
|  |  | 2628692 |
| **Nebraska - 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nebraska, Investment Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.89%, 03/01/2029 | 100000 | 102111 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.94%, 09/01/2029 | 100000 | 102439 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.10%, 03/01/2030 | 100000 | 103134 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.15%, 09/01/2030 | 100000 | 103214 |
|  |  | 410898 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

---

| | | |
|:---|:---|:---|
| **Description** | **Face** <br> **Amount** | **Market** <br> **Value** |
| **New Hampshire - 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New Hampshire, Housing Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/01/2031 | $500000 | $500719 |
| **New Jersey - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New Jersey, Housing & Mortgage Finance Agency, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.21%, 05/01/2030 | 435000 | 450595 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.26%, 11/01/2030 | 445000 | 462292 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.30%, 05/01/2031 | 320000 | 333154 |
|  |  | 1246041 |
| **New York - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New York City, Housing Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.29%, 11/01/2030 | 415000 | 382135 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.29%, 02/01/2031 | 250000 | 260188 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.31%, 02/01/2033 | 250000 | 259128 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.33%, 08/01/2033 | 330000 | 341512 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.34%, 08/01/2031 | 250000 | 260590 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.37%, 08/01/2030 | 250000 | 260182 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/01/2032 | 250000 | 259815 |
|  |  | 2023550 |
| **Virginia - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Virginia State, Housing Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.11%, 11/01/2029 | 500000 | 468250 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.31%, 11/01/2031 | 500000 | 452449 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.46%, 11/01/2032 | 500000 | 444239 |
|  |  | 1364938 |
| **TOTAL MUNICIPAL BONDS** |  |  |
| **(COST $10,463,653)** |  | 10470035 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

---

| | | |
|:---|:---|:---|
| **Description** | **Face** <br> **Amount** | **Market** <br> **Value** |
| **MORTGAGE-BACKED SECURITIES - 2.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.16%, TSFR1M + 1.490%, 01/17/2039 (a)(c) | $2120339 | $2119676 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.51%, TSFR1M + 1.840%, 01/17/2039 (a)(c) | 2951748 | 2950826 |
| &nbsp;&nbsp;&nbsp;&nbsp;STWD Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.65%, TSFR1M + 0.972%, 11/15/2036 (a)(c) | 3000000 | 2996250 |
| **TOTAL MORTGAGE-BACKED SECURITIES** |  |  |
| **(COST $7,971,133)** |  | 8066752 |
| **U.S. TREASURY OBLIGATIONS - 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 12/15/2028 | 1815000 | 1799828 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/15/2036 | 1800000 | 1773281 |
| **TOTAL U.S. TREASURY OBLIGATIONS** |  |  |
| **(COST $3,570,130)** |  | 3573109 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Market** <br> **Value** |
| **SHORT-TERM INVESTMENT - 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity Institutional Government Portfolio, Cl I, 3.53% (d) | 3054679 | 3054679 |
| **TOTAL SHORT-TERM INVESTMENT** |  |  |
| **(COST $3,054,679)** |  | 3054679 |
| **TOTAL INVESTMENTS (COST $327,858,828) - 100.2%** |  | 323238009 |
| **OTHER ASSETS AND LIABILITIES - (0.2)%** |  | (652959) |
| **NET ASSETS - 100.0%** |  | $322585050 |

---

The Community Development Fund March 31, 2026 (Unaudited)

SCHEDULE OF INVESTMENTS (Concluded)

A list of the open futures contracts held by the Fund at March 31, 2026, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type of Contract** | **Number of Contracts** | **Expiration <br> Date** | **Notional Amount** | **Value** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| Long Contracts |  |  |  |  |  |
| &nbsp;&nbsp;U.S. 2-Year<br> Treasury Notes | 30 | &nbsp;&nbsp;&nbsp;&nbsp;Jun-2026 | $6240373 | $6223359 | $(17014) |
| Short Contracts |  |  |  |  |  |
| &nbsp;&nbsp;U.S. Long Treasury<br> Bonds | (111) | &nbsp;&nbsp;&nbsp;&nbsp;Jun-2026 | $(13004540) | $(12640125) | $364415 |
| &nbsp;&nbsp;Ultra 10-Year U.S.<br> Treasury Notes | (111) | &nbsp;&nbsp;&nbsp;&nbsp;Jun-2026 | (12804222) | (12600234) | 203988 |
|  |  |  | (25808762) | (25240359) | 568403 |
|  |  |  | $(19568389) | $(19017000) | $551389 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Variable
 or floating rate security. The rate shown is the effective interest rate as of period
 end. The rates on certain securities are not based on published reference rates and spreads
 and are either determined by the issuer or agent based on current market conditions;
 by using a formula based on the rates of underlying loans; or by adjusting periodically
 based on prevailing interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Security,
 or portion thereof, has been pledged as collateral on open futures contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Securities
 sold within terms of a private placement memorandum, exempt from registration under Section
 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that
 program or other "accredited investors." The total value of such securities
 at March 31, 2026 was $8,066,752 and represents 2.5% of Net Assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Rate
 shown is the 7-day effective yield as of March 31, 2026.

Cl — Class

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

FRESB — Freddie Mac Small Balance Mortgage Trust

GNMA — Government National Mortgage Association

RB — Revenue Bond

SOFR30A — Secured Overnight Financing Rate 30-day Average

TSFR1M — Term Secured Overnight Financing Rate 1 Month

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** MIAMI

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33156

  - **Telephone number:** 3056630100

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

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

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

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

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $324421379.02

**Total Liabilities:** $1836328.93

**Net Assets:** $322585050.09

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -366.78009304 | **1-Year:** -9603.71216992 | **5-Year:** -48915.67109008 | **10-Year:** -61142.86622034 | **30-Year:** -12332.98896950

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

- **3-Month:** -554.95402150 | **1-Year:** -6017.88948624 | **5-Year:** -13814.60266173 | **10-Year:** -11519.14236223 | **30-Year:** -1253.60254055

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161514 | -1.36%               | 1.49%                | 0.28%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-85948.89               | $-6215714.22                               |
| Month 2  | $6922.04                 | $4658365.51                                |
| Month 3  | $7277.67                 | $-71715.35                                 |

**Designated Index Information**

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

- **Index Identifier:** LBFI_5582_USD_TR

### Schedule of Portfolio Investments

| Name                                                   | Title                                                                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2017-135 AG                          | CUSIP: 38379R3Y7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    476475 | PA      | $410924.20    | 0.13%             | 2058-08-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K141 A2                   | CUSIP: 3137H6ZM0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   4800000 | PA      | $4291548.00   | 1.33%             | 2032-02-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-72 AG                           | CUSIP: 38381LEH1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    967991 | PA      | $944236.16    | 0.29%             | 2065-05-16      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB8111                                                         | CUSIP: 3140QUAM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1209043 | PA      | $1232480.55   | 0.38%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5636                                                        | CUSIP: 3142GWHN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    693317 | PA      | $686176.14    | 0.21%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AN7888                                                         | CUSIP: 3138LLXS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   3150292 | PA      | $2894145.19   | 0.90%             | 2034-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ5493                                                         | CUSIP: 3140Q1C73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2574000 | PA      | $2583924.96   | 0.80%             | 2030-11-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                 | FRETE 2025-ML32 FRETE 2025-ML32 AUS                                               | CUSIP: 3137HNWU8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |         0 | PA      | $0.01         | 0.00%             | 2042-03-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS Q030 A                    | CUSIP: 3137HHJQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2913662 | PA      | $2907308.01   | 0.90%             | 2044-01-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS7653                                                         | CUSIP: 3138WHQF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    822208 | PA      | $741916.36    | 0.23%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STWD MORTGAGE TRUST                                    | STWD 2021-LIH MORTGAGE TRUST STWD 2021-LIH A                                      | CUSIP: 78486EAA6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   3000000 | PA      | $2996250.00   | 0.93%             | 2036-11-15      | Floating      | 4.65%                 | Yes           |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY                   | CUSIP: 92812WAY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $468250.00    | 0.15%             | 2029-11-01      | Fixed         | 2.11%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K759 A2                   | CUSIP: 3137HJZS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   6500000 | PA      | $6639224.80   | 2.06%             | 2032-01-25      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-109 LB                          | CUSIP: 38381MTM2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3000000 | PA      | $2909475.60   | 0.90%             | 2066-08-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-217 AE                          | CUSIP: 38384REG7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1395762 | PA      | $1381199.85   | 0.43%             | 2058-01-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV           | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968M3H0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103213.85    | 0.03%             | 2030-09-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2017-74 AD                           | CUSIP: 38379RYW7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    383318 | PA      | $324688.99    | 0.10%             | 2058-09-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC2299                                                         | CUSIP: 3140Y8RV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1364315 | PA      | $1353559.85   | 0.42%             | 2056-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC2146                                                         | CUSIP: 3140Y8L46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1086542 | PA      | $1077976.60   | 0.33%             | 2056-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2021-SB93 MORTGAGE TRUST FRESB 2021-SB93 A7F                                | CUSIP: 30325WAB0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    775920 | PA      | $727772.96    | 0.23%             | 2028-10-25      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA8444                                                         | CUSIP: 3140QGL21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    774980 | PA      | $635223.19    | 0.20%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2026-55 D                            | CUSIP: 38384TTA0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1986920.40   | 0.62%             | 2056-04-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K556 AS                   | CUSIP: 3137HQDN8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   4999944 | PA      | $4994115.32   | 1.55%             | 2030-12-25      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS4297                                                         | CUSIP: 3140LEX36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    218091 | PA      | $212018.38    | 0.07%             | 2027-08-01      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB2830                                                         | CUSIP: 3140QNEC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    928970 | PA      | $792698.40    | 0.25%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY REV       | NEW JERSEY ST HSG & MTGE FIN A NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY       | CUSIP: 6461082T6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $450594.75    | 0.14%             | 2030-05-01      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260187.53    | 0.08%             | 2031-02-01      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| HSBC                                                   | US 10YR ULTRA FUT JUN26 FINANCIAL COMMODITY FUTURE.                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -111 | NC      | $-12600234.38 | -3.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS8734                                                         | CUSIP: 3138WJV47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    525089 | PA      | $490754.54    | 0.15%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States of America                               | US TREASURY N/B 3.500000% 12/15/2028                                              | CUSIP: 91282CPP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |   1815000 | PA      | $1799827.73   | 0.56%             | 2028-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSG2 A2                   | CUSIP: 3137H4S84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $887633.60    | 0.28%             | 2031-11-25      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC2272                                                         | CUSIP: 3140Y8Q25<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   3085204 | PA      | $3079880.45   | 0.95%             | 2056-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP REV                               | FLORIDA ST HSG FIN CORP REVENU FLORIDA HOUSING FINANCE CORP                       | CUSIP: 34074MJ69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $96935.53     | 0.03%             | 2029-01-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260590.20    | 0.08%             | 2031-08-01      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5691                                                        | CUSIP: 3142GWKD0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    594238 | PA      | $591406.69    | 0.18%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ0597                                                         | CUSIP: 3140NUUX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1977356 | PA      | $2024273.93   | 0.63%             | 2040-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC GOLD POOL FG Q41874                                                   | CUSIP: 3132WFCL1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    901952 | PA      | $819184.00    | 0.25%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KSG3 A2                   | CUSIP: 3137H7MF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1812669.20   | 0.56%             | 2032-05-25      | Floating      | 2.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF141 AS                  | CUSIP: 3137H8U66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3366864 | PA      | $3379009.75   | 1.05%             | 2032-07-25      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-162 AC                          | CUSIP: 38381JXG7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2353128 | PA      | $2445893.93   | 0.76%             | 2064-03-16      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS0345                                                         | CUSIP: 3140LAL37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    883497 | PA      | $705539.79    | 0.22%             | 2036-01-01      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-126 BC                          | CUSIP: 38381PYD9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2970418 | PA      | $3074480.08   | 0.95%             | 2067-05-16      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-54 V                            | CUSIP: 38381MAK6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1567439 | PA      | $1565575.66   | 0.49%             | 2040-06-16      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA4839                                                        | CUSIP: 3142ACEM7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1616125 | PA      | $1358634.74   | 0.42%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC2307                                                         | CUSIP: 3140Y8R57<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2323234 | PA      | $2374464.49   | 0.74%             | 2056-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K123 A2                   | CUSIP: 3137F8ZV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1500000 | PA      | $1337240.85   | 0.41%             | 2030-12-25      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association 2             | GINNIE MAE II POOL G2 AU1835                                                      | CUSIP: 36194PBC7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    300804 | PA      | $268695.04    | 0.08%             | 2046-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5960                                                        | CUSIP: 3142GWTS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1841911 | PA      | $1842702.48   | 0.57%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-153 AB                          | CUSIP: 38381LTG7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2403923 | PA      | $2383533.59   | 0.74%             | 2065-03-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA4823                                                        | CUSIP: 3142ACD55<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5531751 | PA      | $4217642.42   | 1.31%             | 2050-02-01      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2024-P0 FHMR 2024-P016 A2              | CUSIP: 3137HDJU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1005391.00   | 0.31%             | 2033-09-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS6491                                                         | CUSIP: 3140LHF96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2444000 | PA      | $2363122.42   | 0.73%             | 2032-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB9112                                                         | CUSIP: 3140QVDS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1044172 | PA      | $1082513.68   | 0.34%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-18 AD                           | CUSIP: 38381L3S9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    469678 | PA      | $464528.01    | 0.14%             | 2057-01-16      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-122 AG                          | CUSIP: 38381LNR9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1928240 | PA      | $1893231.13   | 0.59%             | 2065-05-16      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ2242                                                         | CUSIP: 3140NWP41<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   4939697 | PA      | $4921058.69   | 1.53%             | 2034-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB8085                                                         | CUSIP: 3140QT6X2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    849353 | PA      | $880020.54    | 0.27%             | 2054-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419ULL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1523737.61   | 0.47%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ0241                                                        | CUSIP: 3142GQHT2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    558438 | PA      | $579482.06    | 0.18%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5637                                                        | CUSIP: 3142GWHP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    605498 | PA      | $615146.88    | 0.19%             | 2055-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY REV       | NEW JERSEY ST HSG & MTGE FIN A NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY       | CUSIP: 6461082U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $462291.99    | 0.14%             | 2030-11-01      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5638                                                        | CUSIP: 3142GWHQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    539040 | PA      | $547630.13    | 0.17%             | 2055-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS7108                                                         | CUSIP: 3140LH3S7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2644040 | PA      | $2704401.03   | 0.84%             | 2032-12-01      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-193 AT                          | CUSIP: 38381LF80<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3689216 | PA      | $3677206.19   | 1.14%             | 2062-04-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2024-SB116 MORTGAGE TRUST FRESB 2024-SB116 A5F                              | CUSIP: 35802BAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |         0 | PA      | $0.09         | 0.00%             | 2029-09-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF169 AS                  | CUSIP: 3137HPU84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1500000 | PA      | $1508708.40   | 0.47%             | 2035-11-25      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-145 AH                          | CUSIP: 38381JRX7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3734960 | PA      | $3063586.20   | 0.95%             | 2065-09-16      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ4203                                                         | CUSIP: 3140NYU58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1000131.46   | 0.31%             | 2030-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF164 AS                  | CUSIP: 3137HHUV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    859059 | PA      | $857938.14    | 0.27%             | 2034-10-25      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| HSBC                                                   | US 2YR NOTE (CBT) JUN26 FINANCIAL COMMODITY FUTURE.                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        30 | NC      | $6223359.38   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5959                                                        | CUSIP: 3142GWTR0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1009568 | PA      | $1002852.51   | 0.31%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WKS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $341511.59    | 0.11%             | 2033-08-01      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FREDDIE MAC MULTIFAMILY ML CERTIFICATES FRETE 2025-ML31 AUS                       | CUSIP: 3137HN4Q8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1995156 | PA      | $2040822.15   | 0.63%             | 2042-06-25      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5723                                                        | CUSIP: 3142GWLD9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1018626 | PA      | $1014045.51   | 0.31%             | 2056-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HSG FIN AUTH SINGLE FAMILY MTG REV    | NEW HAMPSHIRE ST HSG FIN AUTH NEW HAMPSHIRE HOUSING FINANCE AUTHORITY             | CUSIP: 64469HCW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500719.50    | 0.16%             | 2031-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-92 AC                           | CUSIP: 38381H7U9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3793561 | PA      | $3571598.87   | 1.11%             | 2062-10-16      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2024-SB116 MORTGAGE TRUST FRESB 2024-SB116 A7F                              | CUSIP: 35802BAF8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1854473 | PA      | $1862710.35   | 0.58%             | 2031-09-25      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A10H                               | CUSIP: 30313KAE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    727816 | PA      | $663211.76    | 0.21%             | 2039-12-25      | Floating      | 2.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS7647                                                         | CUSIP: 3138WHP97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    532644 | PA      | $485437.65    | 0.15%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2018-SB57 MORTGAGE TRUST FRESB 2018-SB57 A10H                               | CUSIP: 30308LAE9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1145113 | PA      | $1119553.99   | 0.35%             | 2038-08-25      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN5283                                                        | CUSIP: 3132XK2R7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1975670.94   | 0.61%             | 2029-09-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5623                                                        | CUSIP: 3142GWG94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1095536 | PA      | $1089766.94   | 0.34%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA HSG FIN AUTH MULTIFAMILY HSG REV   | MIAMI-DADE CNTY FL HSG FIN AUT MIAMI-DADE COUNTY HOUSING FINANCE AUTHORITY        | CUSIP: 593344DF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $491349.60    | 0.15%             | 2042-02-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-213 AB                          | CUSIP: 38381SEC7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1993844 | PA      | $1986949.35   | 0.62%             | 2057-03-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KJ53 AS                   | CUSIP: 3137HKXM1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2902877 | PA      | $2899729.81   | 0.90%             | 2034-10-25      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP REV                               | FLORIDA ST HSG FIN CORP REVENU FLORIDA HOUSING FINANCE CORP                       | CUSIP: 34074MJ44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $571502.59    | 0.18%             | 2028-01-01      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259815.18    | 0.08%             | 2032-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-158 A2                  | CUSIP: 3137HAGS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5200000 | PA      | $5065401.12   | 1.57%             | 2033-07-25      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2025-SB120 MORTGAGE TRUST FRESB 2025-SB120 A5F                              | CUSIP: 357913AA0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |         0 | PA      | $0.05         | 0.00%             | 2030-01-25      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2021-P0 FHMR 2021-P009 A1              | CUSIP: 3137H13U8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    248942 | PA      | $234702.19    | 0.07%             | 2031-01-25      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-54 AC                           | CUSIP: 38381LAZ5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1731864 | PA      | $1700701.54   | 0.53%             | 2065-02-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-182 AE                          | CUSIP: 38381J8R1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   4992211 | PA      | $4870141.04   | 1.51%             | 2067-05-16      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN5231                                                        | CUSIP: 3132XKY50<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3000000 | PA      | $2999129.28   | 0.93%             | 2030-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-16 AC                           | CUSIP: 38381LW57<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2769223 | PA      | $2758804.33   | 0.86%             | 2065-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K542 AS                   | CUSIP: 3137HLY55<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1997238 | PA      | $1993424.97   | 0.62%             | 2030-01-25      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200350.96    | 0.06%             | 2026-09-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $301139.67    | 0.09%             | 2027-03-01      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-16 AC                           | CUSIP: 38381HP70<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1907889 | PA      | $1853602.45   | 0.57%             | 2063-07-16      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WKR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259128.20    | 0.08%             | 2033-02-01      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FRETE 2025-ML30 TRUST FRETE 2025-ML30 AUS                                         | CUSIP: 3137HMC57<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2982685 | PA      | $3109470.28   | 0.96%             | 2042-07-25      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB2317                                                         | CUSIP: 3140QMSF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    993825 | PA      | $807286.81    | 0.25%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-172 A2                  | CUSIP: 3137HNMY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5000000 | PA      | $4990107.50   | 1.55%             | 2035-08-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-74 AD                           | CUSIP: 38381JEJ2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1646688 | PA      | $1588290.62   | 0.49%             | 2055-10-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                           | BX COMMERCIAL MORTGAGE TRUST 2022-AHP BX 2022-AHP AS                              | CUSIP: 05610FAB3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2120339 | PA      | $2119676.52   | 0.66%             | 2039-01-17      | Floating      | 5.16%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB0268                                                         | CUSIP: 3140QKJN9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2800970 | PA      | $2289887.25   | 0.71%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ3372                                                         | CUSIP: 3140NXXA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $2008621.36   | 0.62%             | 2030-03-01      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA2241                                                        | CUSIP: 3132WVWB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   5425281 | PA      | $5406686.65   | 1.68%             | 2040-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251284.43    | 0.08%             | 2027-09-01      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ3471                                                         | CUSIP: 3140NX2D4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1010870.50   | 0.31%             | 2032-04-01      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-16 AV                           | CUSIP: 38381LY55<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2328706 | PA      | $2323633.56   | 0.72%             | 2037-10-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV       | MARYLAND CMNTY DEV ADMIN HSG & MARYLAND DEPARTMENT OF HOUSING & COMMUNITY DEVELOP | CUSIP: 57419UKN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $352179.24    | 0.11%             | 2028-03-01      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2015-P0 FHMR 2022-P013 A2              | CUSIP: 3137H74G5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1827130.60   | 0.57%             | 2032-02-25      | Floating      | 2.76%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2019-SB68 MORTGAGE TRUST FRESB 2019-SB68 A10F                               | CUSIP: 30298WAH0<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1472115 | PA      | $1371763.99   | 0.43%             | 2029-09-25      | Floating      | 2.42%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AN5657                                                         | CUSIP: 3138LJJB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    328674 | PA      | $311884.46    | 0.10%             | 2032-07-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV           | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968M3G2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103134.00    | 0.03%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ2692                                                        | CUSIP: 3142GS7E2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    651136 | PA      | $672557.05    | 0.21%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA1985                                                         | CUSIP: 3140Q9F32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    224135 | PA      | $214285.32    | 0.07%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY REV       | NEW JERSEY ST HSG & MTGE FIN A NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY       | CUSIP: 6461082V1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $333154.14    | 0.10%             | 2031-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB80 MORTGAGE TRUST FRESB 2020-SB80 A5H                                | CUSIP: 30316XAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1360198 | PA      | $1356170.16   | 0.42%             | 2040-09-25      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-153 V                           | CUSIP: 38383JBY0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    341444 | PA      | $337834.99    | 0.10%             | 2039-12-16      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB76 MORTGAGE TRUST FRESB 2020-SB76 A5H                                | CUSIP: 30315EAB2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    966047 | PA      | $960949.02    | 0.30%             | 2040-04-25      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ4222                                                         | CUSIP: 3140NYVQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1981300 | PA      | $2007608.44   | 0.62%             | 2030-06-01      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| United States of America                               | US TREASURY N/B 4.125000% 02/15/2036                                              | CUSIP: 91282CPZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |   1800000 | PA      | $1773281.25   | 0.55%             | 2036-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ3883                                                         | CUSIP: 3140NYJ51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1300000 | PA      | $1307709.00   | 0.41%             | 2032-05-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS Q027 A1                   | CUSIP: 3137HF3E3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $2006865.80   | 0.62%             | 2031-08-25      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB7245                                                         | CUSIP: 3140QTBP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    750638 | PA      | $764938.62    | 0.24%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-169 A2                  | CUSIP: 3137HK2C7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1006448.00   | 0.31%             | 2034-12-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2021-SB84 MORTGAGE TRUST FRESB 2021-SB84 A10F                               | CUSIP: 30320WAP4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1572307 | PA      | $1385372.00   | 0.43%             | 2031-01-25      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY                   | CUSIP: 92812WBB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $444238.80    | 0.14%             | 2032-11-01      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC1359                                                         | CUSIP: 3140Y7QM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1198853 | PA      | $1245777.84   | 0.39%             | 2055-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB77 MORTGAGE TRUST FRESB 2020-SB77 A7H                                | CUSIP: 30316AAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1360126 | PA      | $1306735.93   | 0.41%             | 2040-06-25      | Floating      | 1.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5640                                                        | CUSIP: 3142GWHS1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1146470 | PA      | $1140432.63   | 0.35%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5639                                                        | CUSIP: 3142GWHR3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    741010 | PA      | $737677.79    | 0.23%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-171 A2                  | CUSIP: 3137HMCA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3300000 | PA      | $3250912.17   | 1.01%             | 2035-06-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| FLORIDA HSG FIN CORP REV                               | FLORIDA ST HSG FIN CORP REVENU FLORIDA HOUSING FINANCE CORP                       | CUSIP: 34074MJ93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $97983.07     | 0.03%             | 2030-07-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BL7673                                                         | CUSIP: 3140J0Q37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1794682 | PA      | $1369982.67   | 0.42%             | 2037-08-01      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS8262                                                         | CUSIP: 3138WJFC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |         0 | PA      | $0.01         | 0.00%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A10F                               | CUSIP: 30313KAD6<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1161411 | PA      | $1075875.88   | 0.33%             | 2029-12-25      | Floating      | 2.21%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-17 AB                           | CUSIP: 38381L3K6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    493496 | PA      | $489841.09    | 0.15%             | 2058-05-16      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS8180                                                         | CUSIP: 3140LKCS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    990246 | PA      | $988044.84    | 0.31%             | 2028-04-01      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-12 AC                           | CUSIP: 38381JX36<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2992111 | PA      | $2893786.57   | 0.90%             | 2065-05-16      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-44 AB                           | CUSIP: 38381H3Y5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2843196 | PA      | $2706155.20   | 0.84%             | 2056-08-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ4388                                                         | CUSIP: 3140NY2W0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1001142.38   | 0.31%             | 2032-07-01      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2026-SB126 MORTGAGE TRUST FRESB 2026-SB126 A10F                             | CUSIP: 35802KAE1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1999203 | PA      | $1968959.84   | 0.61%             | 2035-12-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA0500                                                        | CUSIP: 3132WRRK1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2199738 | PA      | $1903707.46   | 0.59%             | 2047-03-01      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP REV                     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64966WHS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260181.58    | 0.08%             | 2030-08-01      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV           | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968M3E7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102111.33    | 0.03%             | 2029-03-01      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ6299                                                        | CUSIP: 3142GW7M5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1062552 | PA      | $1060718.56   | 0.33%             | 2056-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ0567                                                         | CUSIP: 3140NUTZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1021140.89   | 0.32%             | 2034-05-01      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-183 AC                          | CUSIP: 38381D7X2<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1364663 | PA      | $1047355.12   | 0.32%             | 2063-01-16      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS8987                                                         | CUSIP: 3140LK6Z1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1075562 | PA      | $1087752.30   | 0.34%             | 2040-07-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-158 AC                          | CUSIP: 38381LVF6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1922548 | PA      | $1851718.36   | 0.57%             | 2057-09-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ1150                                                         | CUSIP: 3140NVH42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    400000 | PA      | $403895.83    | 0.13%             | 2031-06-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA1648                                                        | CUSIP: 3132WVBS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    990234 | PA      | $983234.61    | 0.30%             | 2035-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K547 A2                   | CUSIP: 3137HN6B9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $2012586.80   | 0.62%             | 2030-05-25      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN2253                                                        | CUSIP: 3132XGQF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $972216.06    | 0.30%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB2739                                                         | CUSIP: 3140QNBH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    579528 | PA      | $493991.94    | 0.15%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA4853                                                        | CUSIP: 3142ACE39<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    994499 | PA      | $966623.43    | 0.30%             | 2055-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K526 AS                   | CUSIP: 3137HF5C5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2991965 | PA      | $2990616.38   | 0.93%             | 2029-06-25      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5178                                                        | CUSIP: 3142GVXG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    577181 | PA      | $585743.42    | 0.18%             | 2055-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K145 A1                   | CUSIP: 3137H7PH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1697855 | PA      | $1611725.78   | 0.50%             | 2031-11-25      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K761 A2                   | CUSIP: 3137HN4L9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $2000455.20   | 0.62%             | 2032-06-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K760 A2                   | CUSIP: 3137HKDD3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $1009447.40   | 0.31%             | 2032-01-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN AS7476                                                         | CUSIP: 3138WHJW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    328282 | PA      | $298365.03    | 0.09%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2020-SB71 MORTGAGE TRUST FRESB 2020-SB71 A5H                                | CUSIP: 30313KAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    670435 | PA      | $667064.63    | 0.21%             | 2039-11-25      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS KF168 AS                  | CUSIP: 3137HNWF1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    999989 | PA      | $1002770.56   | 0.31%             | 2035-08-25      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC2114                                                         | CUSIP: 3140Y8K47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1062384 | PA      | $1055317.67   | 0.33%             | 2056-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC1630                                                         | CUSIP: 3140Y7Y44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1899644 | PA      | $1898998.14   | 0.59%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2024-12 AV                           | CUSIP: 38381JY27<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1733632 | PA      | $1672979.29   | 0.52%             | 2036-11-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K540 AS                   | CUSIP: 3137HLJB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    997865 | PA      | $995566.81    | 0.31%             | 2029-11-25      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                               | VIRGINIA ST HSG DEV AUTH VIRGINIA HOUSING DEVELOPMENT AUTHORITY                   | CUSIP: 92812WBA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $452449.20    | 0.14%             | 2031-11-01      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BT0120                                                         | CUSIP: 3140LND20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1017040 | PA      | $831429.74    | 0.26%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB7935                                                         | CUSIP: 3140QTY94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    824526 | PA      | $854801.30    | 0.26%             | 2054-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC2113                                                         | CUSIP: 3140Y8K39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1924412 | PA      | $1923757.41   | 0.60%             | 2056-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BC0962                                                         | CUSIP: 3140EVB89<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    220248 | PA      | $202195.84    | 0.06%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEBRASKA INVT FIN AUTH SINGLE FAMILY HSG REV           | NEBRASKA ST INVESTMENT FIN AUT NEBRASKA INVESTMENT FINANCE AUTHORITY              | CUSIP: 63968M3F4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102439.24    | 0.03%             | 2029-09-01      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CB2738                                                         | CUSIP: 3140QNBG6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   4297781 | PA      | $3636493.21   | 1.13%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY HSG DEV CORP MULTIFAMILY HSG REV     | NEW YORK CITY NY HSG DEV CORP NEW YORK CITY HOUSING DEVELOPMENT CORP              | CUSIP: 64972EC80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $382135.24    | 0.12%             | 2030-11-01      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-177 A2                  | CUSIP: 3137HQMF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3000000 | PA      | $2924107.50   | 0.91%             | 2036-01-25      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA3194                                                        | CUSIP: 3132WWXY3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1437070 | PA      | $1344884.14   | 0.42%             | 2037-07-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY VARIABLE RATE CERTIFICATE FMMV M071 A                     | CUSIP: 3137HDVJ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3915345 | PA      | $3894695.98   | 1.21%             | 2040-08-15      | Floating      | 3.97%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FREDDIE MAC MULTIFAMILY ML CERTIFICATES FRETE 2025-ML29 AUS                       | CUSIP: 3137HLHX3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1988148 | PA      | $2068500.32   | 0.64%             | 2043-01-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC2144                                                         | CUSIP: 3140Y8L20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1006085 | PA      | $1002800.40   | 0.31%             | 2056-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CA7479                                                         | CUSIP: 3140QFJZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    330247 | PA      | $268194.74    | 0.08%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5015                                                        | CUSIP: 3142GVSD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1828706 | PA      | $1863439.18   | 0.58%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RA5346                                                        | CUSIP: 3133KL5F0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    898491 | PA      | $734533.87    | 0.23%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN CC1382                                                         | CUSIP: 3140Y7RC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1236662 | PA      | $1259393.89   | 0.39%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RA1853                                                        | CUSIP: 3133KHBW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    547600 | PA      | $489554.23    | 0.15%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-184 AC                          | CUSIP: 38384RBQ8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    995455 | PA      | $989513.02    | 0.31%             | 2058-06-16      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2026-16 AK                           | CUSIP: 38384TNK4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3241926 | PA      | $3132104.49   | 0.97%             | 2067-06-16      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| FRESB MORTGAGE TRUST                                   | FRESB 2021-SB93 MORTGAGE TRUST FRESB 2021-SB93 A5H                                | CUSIP: 30325WAA2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    829152 | PA      | $817208.92    | 0.25%             | 2041-09-25      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE-ACES FNA 2023-M5 A2                                                    | CUSIP: 3136BQCP2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   5000000 | PA      | $4957488.00   | 1.54%             | 2033-07-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-191 AD                          | CUSIP: 38381JK55<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2311531 | PA      | $2205008.36   | 0.68%             | 2064-05-16      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                               | US LONG BOND(CBT) JUN26 FINANCIAL COMMODITY FUTURE.                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -111 | NC      | $-12640125.00 | -3.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ0271                                                         | CUSIP: 3140NUJR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1973393 | PA      | $2017971.71   | 0.63%             | 2040-01-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WS4017                                                        | CUSIP: 3142GGPB4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1473310 | PA      | $1460519.27   | 0.45%             | 2040-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                           | BX COMMERCIAL MORTGAGE TRUST 2022-AHP BX 2022-AHP B                               | CUSIP: 05610FAC1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2951748 | PA      | $2950825.78   | 0.91%             | 2039-01-17      | Floating      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| COLORADO HSG & FIN AUTH                                | COLORADO ST HSG & FIN AUTH COLORADO HOUSING AND FINANCE AUTHORITY                 | CUSIP: 19648GCH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $470810.03    | 0.15%             | 2030-11-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN0179                                                        | CUSIP: 3132XEFV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   4000000 | PA      | $3789641.56   | 1.17%             | 2045-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-40 EM                           | CUSIP: 38381MCT5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1087170 | PA      | $1087204.11   | 0.34%             | 2057-08-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BZ6128                                                         | CUSIP: 3140Q1Y20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   1346823 | PA      | $1355703.86   | 0.42%             | 2036-01-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K092 A1                   | CUSIP: 3137FLYU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |         0 | PA      | $0.08         | 0.00%             | 2028-10-25      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association 2             | GINNIE MAE II POOL G2 AU1762                                                      | CUSIP: 36194N5X3<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    198344 | PA      | $183280.71    | 0.06%             | 2046-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WA3283                                                        | CUSIP: 3132WW2R2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2455977 | PA      | $2295546.08   | 0.71%             | 2039-06-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA HSG FIN AUTH MULTIFAMILY HSG REV   | MIAMI-DADE CNTY FL HSG FIN AUT MIAMI-DADE COUNTY HOUSING FINANCE AUTHORITY        | CUSIP: 593344DG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $566615.40    | 0.18%             | 2030-08-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN5065                                                        | CUSIP: 3132XKTX5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $1997679.64   | 0.62%             | 2029-08-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5695                                                        | CUSIP: 3142GWKH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    574366 | PA      | $572315.47    | 0.18%             | 2056-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FANNIE MAE POOL FN BS7623                                                         | CUSIP: 3140LJPH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   5000000 | PA      | $5017652.45   | 1.56%             | 2033-01-01      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K-170 A2                  | CUSIP: 3137HLJ52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   7800000 | PA      | $8031000.12   | 2.49%             | 2035-02-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5624                                                        | CUSIP: 3142GWHA0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    854272 | PA      | $829025.26    | 0.26%             | 2055-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR WN5213                                                        | CUSIP: 3132XKYK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    998485 | PA      | $1002386.07   | 0.31%             | 2030-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                    | FIDELITY GOVERNMENT MONEY MARKET CLASS I (FIGXX)                                  | CUSIP: 316175108<br>LEI: N/A                  | Long             | STIV             |  | US        |   3054679 | PA      | $3054679.12   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC MULTICLASS CERTIFICATES SERIES 2021-P0 FHMR 2021-P009 A2              | CUSIP: 3137H13V6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $901754.60    | 0.28%             | 2031-01-25      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | FREDDIE MAC POOL FR RJ5724                                                        | CUSIP: 3142GWLE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    548316 | PA      | $556858.14    | 0.17%             | 2056-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

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

**Signature:** Ken Thomas

**Name of Signer:** Ken Thomas

**Title:** President