# EDGAR Filing Document

**Accession Number:** 0000816153
**File Stem:** 0001410368-26-015734
**Filing Date:** 2026-2
**Character Count:** 746579
**Document Hash:** 279c10c5987b9264a226c288fd4a921d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-015734.hdr.sgml**: 20260220

**ACCESSION NUMBER**: 0001410368-26-015734

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260220

**DATE AS OF CHANGE**: 20260220

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THORNBURG INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000816153

**ORGANIZATION NAME:**
- **EIN:** 061158764
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05201
- **FILM NUMBER:** 26659410

**BUSINESS ADDRESS:**
- **STREET 1:** 2300 NORTH RIDGETOP ROAD
- **CITY:** SANTA FE
- **STATE:** NM
- **ZIP:** 87506-8361
- **BUSINESS PHONE:** 5059840200

**MAIL ADDRESS:**
- **STREET 1:** 2300 NORTH RIDGETOP ROAD
- **CITY:** SANTA FE
- **STATE:** NM
- **ZIP:** 87506-8361

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THORNBURG INCOME TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LIMITED TERM TRUST
- **DATE OF NAME CHANGE:** 19870816

## Series and Classes Contracts Data

### Thornburg Strategic Income Fund (Series ID: S000020097)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000056389 | Thornburg Strategic Income Fund - Class A  | TSIAX           |
| C000056390 | Thornburg Strategic Income Fund - Class C  | TSICX           |
| C000056391 | Thornburg Strategic Income Fund - Class I  | TSIIX           |
| C000113850 | Thornburg Strategic Income Fund - Class R3 | TSIRX           |
| C000113851 | Thornburg Strategic Income Fund - Class R5 | TSRRX           |
| C000136850 | Thornburg Strategic Income Fund - Class R4 | TSRIX           |
| C000177481 | Thornburg Strategic Income Fund - Class R6 | TSRSX           |

## Nport-Ex

SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | **Common Stock — 0.0%** |  |  |
|  | &nbsp;&nbsp;**Energy — 0.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels — 0.0%** |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Foresea Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp; 19278 | &nbsp;&nbsp;$683405 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Malamute Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 847 | &nbsp;&nbsp;&nbsp;&nbsp; 847 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 684252 |
|  | &nbsp;&nbsp;**Telecommunication Services — 0.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Diversified Telecommunication Services — 0.0%** |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Digicel Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 24516 | &nbsp;&nbsp;&nbsp;&nbsp; 22235 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 22235 |
|  | &nbsp;&nbsp;&nbsp;Total Common Stock (Cost $1,763,028) |  | &nbsp;&nbsp;&nbsp;&nbsp; 706487 |
|  | **Preferred Stock — 0.4%** |  |  |
|  | &nbsp;&nbsp;**Energy — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels — 0.1%** |  |  |
| **<sup>c</sup>** | &nbsp;&nbsp;&nbsp;Summit Midstream Corp. Series A, 12.284%, 1/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 21140 | &nbsp;&nbsp;&nbsp;&nbsp; 3466177 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3466177 |
|  | &nbsp;&nbsp;**Financial Services — 0.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Capital Markets — 0.3%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Calamos Strategic Total Return Fund 6.24%, 9/9/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 12877500 |
| **<sup>a,d</sup>** | &nbsp;&nbsp;&nbsp;Gabelli Dividend & Income Trust Series J, 4.50%, 3/26/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 864 | &nbsp;&nbsp;&nbsp;&nbsp; 21060000 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 33937500 |
|  | &nbsp;&nbsp;&nbsp;Total Preferred Stock (Cost $36,727,957) |  | &nbsp;&nbsp;&nbsp;&nbsp; 37403677 |
|  | **Asset Backed Securities — 9.3%** |  |  |
|  | &nbsp;&nbsp;**Auto Receivables — 2.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Arivo Acceptance Auto Loan Receivables Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2A Class B, 7.70% due 2/15/2029 | &nbsp;&nbsp;$1760000 | &nbsp;&nbsp;&nbsp;&nbsp; 1804572 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A Class A, 6.46% due 4/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 973761 | &nbsp;&nbsp;&nbsp;&nbsp; 979732 |
|  | &nbsp;&nbsp;&nbsp;BOF URSA VI Funding Trust I, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-CAR1 Class B, 6.029% due 10/27/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 837465 | &nbsp;&nbsp;&nbsp;&nbsp; 845836 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-CAR2 Class A2, 5.542% due 10/27/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1352555 | &nbsp;&nbsp;&nbsp;&nbsp; 1361220 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-CAR2 Class B, 6.029% due 10/27/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2634596 | &nbsp;&nbsp;&nbsp;&nbsp; 2654697 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;BOF VII AL Funding Trust I, Series 2023-CAR3 Class A2, 6.291% due 7/26/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3599776 | &nbsp;&nbsp;&nbsp;&nbsp; 3663516 |
|  | &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-N4 Class R, due 9/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 11650 | &nbsp;&nbsp;&nbsp;&nbsp; 434301 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-P1 Class R, due 12/10/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 23500 | &nbsp;&nbsp;&nbsp;&nbsp; 1529695 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-P2 Class R, due 5/10/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 7500 | &nbsp;&nbsp;&nbsp;&nbsp; 1020329 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-P3 Class R, due 9/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9000 | &nbsp;&nbsp;&nbsp;&nbsp; 824452 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-P4 Class R, due 9/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 8250 | &nbsp;&nbsp;&nbsp;&nbsp; 954723 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-N1 Class E, 6.01% due 12/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4272650 | &nbsp;&nbsp;&nbsp;&nbsp; 4092363 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-P1 Class R, due 1/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 5100357 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-P1 Class XS, due 1/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 151312229 | &nbsp;&nbsp;&nbsp;&nbsp; 458779 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-N4 Class A, 6.42% due 1/10/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 160265 | &nbsp;&nbsp;&nbsp;&nbsp; 160352 |
|  | &nbsp;&nbsp;&nbsp;CPS Auto Receivables Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C Class C, 5.28% due 4/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3719 | &nbsp;&nbsp;&nbsp;&nbsp; 3719 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-D Class B, 6.78% due 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1331157 | &nbsp;&nbsp;&nbsp;&nbsp; 1332424 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;CPS Auto Securitization Trust, Series 2021-1A Class A, 7.86% due 6/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6232659 | &nbsp;&nbsp;&nbsp;&nbsp; 6216644 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;DT Auto Owner Trust, Series 2021-3A Class D, 1.31% due 5/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1352120 | &nbsp;&nbsp;&nbsp;&nbsp; 1347816 |
|  | &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2A Class D, 4.56% due 7/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3224394 | &nbsp;&nbsp;&nbsp;&nbsp; 3225247 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3A Class D, 6.76% due 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5488447 | &nbsp;&nbsp;&nbsp;&nbsp; 5540856 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-4A Class D, 5.98% due 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1330863 | &nbsp;&nbsp;&nbsp;&nbsp; 1340847 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-4A Class C, 6.51% due 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2576075 | &nbsp;&nbsp;&nbsp;&nbsp; 2591466 |
|  | &nbsp;&nbsp;&nbsp;FHF Issuer Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A Class A2, 4.94% due 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5098863 | &nbsp;&nbsp;&nbsp;&nbsp; 5111632 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A Class A2, 5.75% due 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 27985000 | &nbsp;&nbsp;&nbsp;&nbsp; 28361440 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;FHF Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2A Class A, 6.14% due 12/15/2027 | &nbsp;&nbsp;$464536 | &nbsp;&nbsp;$465747 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A Class A2, 6.57% due 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 791342 | &nbsp;&nbsp;&nbsp;&nbsp; 796185 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;First Investors Auto Owner Trust, Series 2022-1A Class E, 5.41% due 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5007092 |
|  | &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3 Class R, due 12/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 31000 | &nbsp;&nbsp;&nbsp;&nbsp; 1681548 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4 Class R, due 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 1612367 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class E, 3.84% due 7/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5858000 | &nbsp;&nbsp;&nbsp;&nbsp; 5802376 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1 Class E, 5.37% due 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 6120000 | &nbsp;&nbsp;&nbsp;&nbsp; 4459399 |
|  | &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4A Class D, 2.48% due 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 9169382 | &nbsp;&nbsp;&nbsp;&nbsp; 9116451 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-4A Class A2, 4.37% due 10/16/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 7603000 | &nbsp;&nbsp;&nbsp;&nbsp; 7613621 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase Bank NA - CACLN, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1 Class R, 28.348% due 9/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 645668 | &nbsp;&nbsp;&nbsp;&nbsp; 625144 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2 Class G, 8.482% due 12/26/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 309379 | &nbsp;&nbsp;&nbsp;&nbsp; 310002 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Lendbuzz Securitization Trust, Series 2023-2A Class A2, 7.09% due 10/16/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1283158 | &nbsp;&nbsp;&nbsp;&nbsp; 1297869 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Lobel Automobile Receivables Trust, Series 2023-2 Class B, 8.67% due 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 6039575 | &nbsp;&nbsp;&nbsp;&nbsp; 6073118 |
|  | &nbsp;&nbsp;&nbsp;Research-Driven Pagaya Motor Asset Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3A Class A, 7.13% due 1/26/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5298655 | &nbsp;&nbsp;&nbsp;&nbsp; 5307682 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-4A Class A, 7.54% due 3/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6730762 | &nbsp;&nbsp;&nbsp;&nbsp; 6744006 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-5A Class A2, 4.575% due 6/26/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 21708000 | &nbsp;&nbsp;&nbsp;&nbsp; 21702577 |
|  | &nbsp;&nbsp;&nbsp;Research-Driven Pagaya Motor Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A Class A, 7.09% due 6/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3785313 | &nbsp;&nbsp;&nbsp;&nbsp; 3803947 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-6A Class A2, 4.705% due 8/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 28203000 | &nbsp;&nbsp;&nbsp;&nbsp; 28216792 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;SAFCO Auto Receivables Trust, Series 2025-1A Class A, 5.46% due 9/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 14572591 | &nbsp;&nbsp;&nbsp;&nbsp; 14673311 |
|  | &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Series 2024-3 Class B, 5.55% due 9/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 22800000 | &nbsp;&nbsp;&nbsp;&nbsp; 23034143 |
|  | &nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust, |  |  |
| **<sup>e,f</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A Class A, 6.36% due 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1028264 | &nbsp;&nbsp;&nbsp;&nbsp; 1011460 |
| **<sup>e,f</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A Class A, 5.22% due 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2202828 | &nbsp;&nbsp;&nbsp;&nbsp; 2022230 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;United Auto Credit Securitization Trust Series 2022-1 Class R, due 11/10/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 37000 | &nbsp;&nbsp;&nbsp;&nbsp; 1749997 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Veros Auto Receivables Trust, Series 2025-1 Class A, 5.31% due 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 10930923 | &nbsp;&nbsp;&nbsp;&nbsp; 10979858 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 245063937 |
|  | &nbsp;&nbsp;**Credit Card — 0.7%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Brex Commercial Charge Card Master Trust, Series 2024-1 Class A1, 6.05% due 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 11173000 | &nbsp;&nbsp;&nbsp;&nbsp; 11207194 |
|  | &nbsp;&nbsp;&nbsp;Continental Finance Credit Card ABS Master Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A Class A, 5.78% due 12/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5069870 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A Class D, 9.42% due 12/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 9343000 | &nbsp;&nbsp;&nbsp;&nbsp; 9515038 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Fortiva Retail Credit Master Note Business Trust, Series 2025-ONE Class A, 5.55% due 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 22585000 | &nbsp;&nbsp;&nbsp;&nbsp; 22515673 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Mercury Financial Credit Card Master Trust, Series 2024-2A Class A, 6.56% due 7/20/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 9800000 | &nbsp;&nbsp;&nbsp;&nbsp; 9833270 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Mission Lane Credit Card Master Trust, Series 2024-A Class A1, 6.20% due 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4700000 | &nbsp;&nbsp;&nbsp;&nbsp; 4722976 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Perimeter Master Notes Business Trust, 8.55% due 9/17/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10101776 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 72965797 |
|  | &nbsp;&nbsp;**Home Equity — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Knock Issuer Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1 Class A1, 7.119% due 2/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11200000 | &nbsp;&nbsp;&nbsp;&nbsp; 11334725 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1 Class A2, 9.054% due 2/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011181 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12345906 |
|  | &nbsp;&nbsp;**Other Asset Backed — 4.5%** |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;321 Henderson Receivables I LLC, Series 2006-3A Class A1, 4.065% (TSFR1M + 0.31%) due 9/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 244496 | &nbsp;&nbsp;&nbsp;&nbsp; 243674 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;ACHD Trust, Series 2025-DS1 Class A, 5.978% due 1/9/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7002909 |
|  | &nbsp;&nbsp;&nbsp;ACHV ABS Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3PL Class D, 8.36% due 8/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 941314 | &nbsp;&nbsp;&nbsp;&nbsp; 947328 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-4CP Class E, 10.50% due 11/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3500566 | &nbsp;&nbsp;&nbsp;&nbsp; 3536741 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust, Series 2025-X2 Class A, 4.45% due 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6899581 | &nbsp;&nbsp;&nbsp;&nbsp; 6907538 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;AMCR ABS Trust, Series 2024-A Class A, 6.26% due 8/18/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 364352 | &nbsp;&nbsp;&nbsp;&nbsp; 364856 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;AMDR ABS Trust, Series 2025-1A Class A, 6.378% due 12/19/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 5130781 | &nbsp;&nbsp;&nbsp;&nbsp; 5139225 |
|  | &nbsp;&nbsp;&nbsp;Aqua Finance Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-A Class D, 6.07% due 7/16/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 7688367 | &nbsp;&nbsp;&nbsp;&nbsp; 7477122 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-AA Class A, 1.90% due 7/17/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 1065247 | &nbsp;&nbsp;&nbsp;&nbsp; 995191 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-AA Class D, 7.15% due 7/17/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 2207844 | &nbsp;&nbsp;&nbsp;&nbsp; 2188698 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-A Class A, 1.54% due 7/17/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 2093695 | &nbsp;&nbsp;&nbsp;&nbsp; 1923360 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;ASP WHCO Partner 2 LP, 6.783% due 3/29/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 23750000 | &nbsp;&nbsp;&nbsp;&nbsp; 23691451 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Auxilior Term Funding LLC, Series 2023-1A Class A2, 6.18% due 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 734047 | &nbsp;&nbsp;&nbsp;&nbsp; 738210 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;BHG Securitization Trust, Series 2021-A Class C, 3.69% due 11/17/2033 | &nbsp;&nbsp;$2200000 | &nbsp;&nbsp;$2091151 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;Blackbird Capital Aircraft Lease Securitization Ltd., Series 2016-1A Class A, 4.213% due 12/16/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 697743 | &nbsp;&nbsp;&nbsp;&nbsp; 699139 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Cascade MH Asset Trust, Series 2021-MH1 Class B3, 7.671% due 2/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 1936119 | &nbsp;&nbsp;&nbsp;&nbsp; 1759251 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Crockett Partners Equipment Co. IIA LLC, Series 2024-1C Class A, 6.05% due 1/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 8354579 | &nbsp;&nbsp;&nbsp;&nbsp; 8501542 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Crossroads Asset Trust, Series 2025-A Class A2, 4.91% due 2/20/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6936006 | &nbsp;&nbsp;&nbsp;&nbsp; 6992813 |
|  | &nbsp;&nbsp;&nbsp;DailyPay Securitization Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A Class A, 5.63% due 6/26/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 10075000 | &nbsp;&nbsp;&nbsp;&nbsp; 10132774 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A Class D, 8.53% due 6/26/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6015000 | &nbsp;&nbsp;&nbsp;&nbsp; 6079086 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;DataBank Issuer LLC, Series 2024-1A Class A2, 5.30% due 1/26/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 16375000 | &nbsp;&nbsp;&nbsp;&nbsp; 16321562 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Dext ABS LLC, Series 2023-2 Class A2, 6.56% due 5/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 801463 | &nbsp;&nbsp;&nbsp;&nbsp; 805694 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Diamond Infrastructure Funding LLC, Series 2021-1A Class A, 1.76% due 4/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 19150000 | &nbsp;&nbsp;&nbsp;&nbsp; 18611416 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Diamond Issuer LLC, Series 2021-1A Class A, 2.305% due 11/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 10983000 | &nbsp;&nbsp;&nbsp;&nbsp; 10540097 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;ECAF I Ltd., Series 2015-1A Class B1, 5.802% due 6/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 4600060 | &nbsp;&nbsp;&nbsp;&nbsp; 2254029 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;EverBright Solar Trust, Series 2024-A Class A, 6.43% due 6/22/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 10081703 | &nbsp;&nbsp;&nbsp;&nbsp; 9261269 |
| **<sup>e,f</sup>** | &nbsp;&nbsp;&nbsp;FAT Brands Fazoli's Native I LLC, Series 2021-1 Class A2, 7.00% due 7/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 10914785 | &nbsp;&nbsp;&nbsp;&nbsp; 10201681 |
|  | &nbsp;&nbsp;&nbsp;Foundation Finance Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A Class A, 1.27% due 5/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 784932 | &nbsp;&nbsp;&nbsp;&nbsp; 742180 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A Class D, 4.96% due 5/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 1186686 | &nbsp;&nbsp;&nbsp;&nbsp; 1168361 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A Class A, 2.19% due 1/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 783758 | &nbsp;&nbsp;&nbsp;&nbsp; 745325 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A Class D, 5.73% due 1/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 2804440 | &nbsp;&nbsp;&nbsp;&nbsp; 2809720 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;FREED ABS Trust, Series 2022-3FP Class D, 7.36% due 8/20/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1388033 | &nbsp;&nbsp;&nbsp;&nbsp; 1389807 |
|  | &nbsp;&nbsp;&nbsp;Goldman Home Improvement Trust Issuer Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-GRN2 Class A, 1.15% due 6/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1256649 | &nbsp;&nbsp;&nbsp;&nbsp; 1235008 |
| **<sup>a,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-GRN2 Class R, due 6/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 41500 | &nbsp;&nbsp;&nbsp;&nbsp; 1706116 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-GRN1 Class A, 4.50% due 6/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 876216 | &nbsp;&nbsp;&nbsp;&nbsp; 877018 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Goodgreen Trust, Series 2021-1A Class A, 2.66% due 10/15/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 14723586 | &nbsp;&nbsp;&nbsp;&nbsp; 12145960 |
|  | &nbsp;&nbsp;&nbsp;GoodLeap Sustainable Home Solutions Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3CS Class A, 2.10% due 5/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 1659839 | &nbsp;&nbsp;&nbsp;&nbsp; 1269875 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3CS Class C, 3.50% due 5/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 3895548 | &nbsp;&nbsp;&nbsp;&nbsp; 1613685 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4GS Class A, 1.93% due 7/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 9313834 | &nbsp;&nbsp;&nbsp;&nbsp; 7713547 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-5CS Class A, 2.31% due 10/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 12238306 | &nbsp;&nbsp;&nbsp;&nbsp; 10201402 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1GS Class A, 2.70% due 1/20/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 14573545 | &nbsp;&nbsp;&nbsp;&nbsp; 12998251 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Gracie Point International Funding LLC, Series 2023-2A Class A, 6.447% (SOFR90A + 2.25%) due 3/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1632297 | &nbsp;&nbsp;&nbsp;&nbsp; 1633854 |
|  | &nbsp;&nbsp;&nbsp;GreenSky Home Improvement Issuer Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2 Class A2, 5.25% due 10/27/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 2417312 | &nbsp;&nbsp;&nbsp;&nbsp; 2425347 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A Class A2, 4.93% due 6/25/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 3003446 | &nbsp;&nbsp;&nbsp;&nbsp; 3013755 |
|  | &nbsp;&nbsp;&nbsp;GreenSky Home Improvement Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1 Class A2, 5.88% due 6/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 831330 | &nbsp;&nbsp;&nbsp;&nbsp; 837040 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1 Class E, 9.00% due 6/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 4135168 | &nbsp;&nbsp;&nbsp;&nbsp; 4306869 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Harvest SBA Loan Trust, Series 2024-1 Class A, 6.25% (SOFR30A + 2.25%) due 12/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 10959901 | &nbsp;&nbsp;&nbsp;&nbsp; 11065946 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;HERO Funding Trust, Series 2017-2A Class A1, 3.28% due 9/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 642909 | &nbsp;&nbsp;&nbsp;&nbsp; 591168 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Hilton Grand Vacations Trust, Series 2019-AA Class A, 2.34% due 7/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 383585 | &nbsp;&nbsp;&nbsp;&nbsp; 382381 |
|  | &nbsp;&nbsp;&nbsp;InStar Leasing III LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A Class A, 2.30% due 2/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 3908726 | &nbsp;&nbsp;&nbsp;&nbsp; 3722818 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A Class C, 5.29% due 2/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 2628926 | &nbsp;&nbsp;&nbsp;&nbsp; 2480836 |
|  | &nbsp;&nbsp;&nbsp;LendingPoint Asset Securitization Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-REV1 Class C, 7.699% due 10/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 924627 | &nbsp;&nbsp;&nbsp;&nbsp; 929722 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-A Class D, 5.73% due 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2692868 | &nbsp;&nbsp;&nbsp;&nbsp; 1622910 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-B Class D, 6.12% due 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1142672 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-A Class E, 7.02% due 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 60 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;LendingPoint Pass-Through Trust, Series 2022-ST3 Class A, 4.00% due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 15575 | &nbsp;&nbsp;&nbsp;&nbsp; 15570 |
|  | &nbsp;&nbsp;&nbsp;Loanpal Solar Loan Ltd., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1GS Class A, 2.29% due 1/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 11524440 | &nbsp;&nbsp;&nbsp;&nbsp; 9622027 |
| **<sup>e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1GS Class R, due 1/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 13252480 | &nbsp;&nbsp;&nbsp;&nbsp; 3674275 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2GS Class C, 3.50% due 3/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 2820796 | &nbsp;&nbsp;&nbsp;&nbsp; 1650688 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;LP LMS Asset Securitization Trust, Series 2021-2A Class D, 6.61% due 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2947000 | &nbsp;&nbsp;&nbsp;&nbsp; 1640101 |
|  | &nbsp;&nbsp;&nbsp;Marlette Funding Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A Class R, due 6/16/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 9520 | &nbsp;&nbsp;&nbsp;&nbsp; 88810 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A Class R, due 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 16347 | &nbsp;&nbsp;&nbsp;&nbsp; 235932 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A Class R, due 12/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 53946 | &nbsp;&nbsp;&nbsp;&nbsp; 767280 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3A Class D, 7.80% due 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 11768584 | &nbsp;&nbsp;&nbsp;&nbsp; 11914980 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3A Class C, 7.06% due 9/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 548301 | &nbsp;&nbsp;&nbsp;&nbsp; 550434 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3A Class D, 8.04% due 9/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6184531 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;MMP Capital LLC, Series 2025-A Class A, 5.36% due 12/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5079092 | &nbsp;&nbsp;&nbsp;&nbsp; 5123715 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Momnt Technologies Trust, Series 2023-1A Class A, 6.92% due 3/20/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 1096447 | &nbsp;&nbsp;&nbsp;&nbsp; 1101621 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Mosaic Solar Loan Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2A Class B, 2.21% due 8/20/2046 | &nbsp;&nbsp;$2785968 | &nbsp;&nbsp;$2247518 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2A Class D, 5.42% due 8/20/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 468495 | &nbsp;&nbsp;&nbsp;&nbsp; 451416 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2A Class R, due 8/20/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 1549937 | &nbsp;&nbsp;&nbsp;&nbsp; 309936 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A Class R, due 12/20/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 8600000 | &nbsp;&nbsp;&nbsp;&nbsp; 1152366 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A Class R, due 4/22/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 9930000 | &nbsp;&nbsp;&nbsp;&nbsp; 645595 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A Class R, due 6/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 12320000 | &nbsp;&nbsp;&nbsp;&nbsp; 476858 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;NetCredit Combined Receivables A LLC, Series 2025-A Class A, 7.29% due 10/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6777714 | &nbsp;&nbsp;&nbsp;&nbsp; 6917904 |
|  | &nbsp;&nbsp;&nbsp;NetCredit Combined Receivables LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A Class A, 7.78% due 12/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 545970 | &nbsp;&nbsp;&nbsp;&nbsp; 546627 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A Class A, 7.43% due 10/21/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 24630 | &nbsp;&nbsp;&nbsp;&nbsp; 24653 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1 Class A1, 1.91% due 10/20/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 19365000 | &nbsp;&nbsp;&nbsp;&nbsp; 16165757 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;NMEF Funding LLC, Series 2025-B Class A2, 4.64% due 1/18/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 7850000 | &nbsp;&nbsp;&nbsp;&nbsp; 7884268 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Oportun Funding LLC Series 2022-1 Class CERT, due 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 226485 |
|  | &nbsp;&nbsp;&nbsp;Oportun Issuance Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-B Class A, 1.47% due 5/8/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1433141 | &nbsp;&nbsp;&nbsp;&nbsp; 1408124 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-C Class A, 2.18% due 10/8/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5799065 | &nbsp;&nbsp;&nbsp;&nbsp; 5711153 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-A Class A, 5.01% due 2/8/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 6400000 | &nbsp;&nbsp;&nbsp;&nbsp; 6404585 |
|  | &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2 Class C, 7.50% due 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1352338 | &nbsp;&nbsp;&nbsp;&nbsp; 1355259 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1 Class A, 6.66% due 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 866367 | &nbsp;&nbsp;&nbsp;&nbsp; 866978 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;PowerPay Issuance Trust, Series 2024-1A Class A, 6.53% due 2/18/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 4845070 | &nbsp;&nbsp;&nbsp;&nbsp; 4969429 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;RCKT Trust, Series 2025-1A Class A, 4.90% due 7/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 3101343 | &nbsp;&nbsp;&nbsp;&nbsp; 3116978 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Regional Management Issuance Trust, Series 2022-1 Class A, 3.07% due 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 311845 | &nbsp;&nbsp;&nbsp;&nbsp; 311370 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Retained Vantage Data Centers Issuer LLC, Series 2023-1A Class A2A, 5.00% due 9/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 12100000 | &nbsp;&nbsp;&nbsp;&nbsp; 12065803 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Service Experts Issuer LLC, Series 2021-1A Class A, 2.67% due 2/2/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5097550 | &nbsp;&nbsp;&nbsp;&nbsp; 5003946 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC, Series 2023-1A Class D, 9.80% due 1/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 1036455 | &nbsp;&nbsp;&nbsp;&nbsp; 1068353 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;SpringCastle America Funding LLC, Series 2020-AA Class A, 1.97% due 9/25/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 1751194 | &nbsp;&nbsp;&nbsp;&nbsp; 1654660 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Stack Infrastructure Issuer LLC, Series 2021-1A Class A2, 1.877% due 3/26/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 7500000 | &nbsp;&nbsp;&nbsp;&nbsp; 7448051 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Stream Innovations Issuer Trust, Series 2024-1A Class A, 6.27% due 7/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 4295860 | &nbsp;&nbsp;&nbsp;&nbsp; 4454359 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Sunbit Asset Securitization Trust, Series 2025-1 Class A, 5.36% due 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 8900000 | &nbsp;&nbsp;&nbsp;&nbsp; 8987155 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Sunnova Hestia II Issuer LLC, Series 2024-GRID1 Class 1A, 5.63% due 7/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 5241600 | &nbsp;&nbsp;&nbsp;&nbsp; 5216316 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Tesla Sustainable Energy Trust, Series 2024-1A Class A2, 5.08% due 6/21/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 9961543 | &nbsp;&nbsp;&nbsp;&nbsp; 9997862 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Theorem Funding Trust, Series 2022-3A Class B, 8.95% due 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1447754 | &nbsp;&nbsp;&nbsp;&nbsp; 1472740 |
|  | &nbsp;&nbsp;&nbsp;Upgrade Master Pass-Thru Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ST4 Class A, 5.495% due 8/16/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4495385 | &nbsp;&nbsp;&nbsp;&nbsp; 4519693 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ST5 Class A, 4.794% due 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6840264 | &nbsp;&nbsp;&nbsp;&nbsp; 6851337 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Upgrade Receivables Trust, Series 2024-1A Class A, 5.37% due 2/18/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 150027 | &nbsp;&nbsp;&nbsp;&nbsp; 150067 |
|  | &nbsp;&nbsp;&nbsp;Upstart Pass-Through Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-ST8 Class CERT, due 10/20/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5400000 | &nbsp;&nbsp;&nbsp;&nbsp; 545616 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-ST9 Class CERT, due 11/20/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1414000 | &nbsp;&nbsp;&nbsp;&nbsp; 215028 |
|  | &nbsp;&nbsp;&nbsp;Upstart Securitization Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3 Class C, 3.28% due 7/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1138641 | &nbsp;&nbsp;&nbsp;&nbsp; 1136583 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3 Class CERT, due 7/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 7165 | &nbsp;&nbsp;&nbsp;&nbsp; 591158 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4 Class CERT, due 9/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4706 | &nbsp;&nbsp;&nbsp;&nbsp; 499307 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-5 Class C, 4.15% due 11/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4259131 | &nbsp;&nbsp;&nbsp;&nbsp; 4241727 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1 Class C, 11.10% due 2/20/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 6814136 | &nbsp;&nbsp;&nbsp;&nbsp; 6833940 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2 Class B, 7.92% due 6/20/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1693599 | &nbsp;&nbsp;&nbsp;&nbsp; 1701842 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3 Class A, 6.90% due 10/20/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 370392 | &nbsp;&nbsp;&nbsp;&nbsp; 371094 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1 Class A, 5.33% due 11/20/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 2528794 | &nbsp;&nbsp;&nbsp;&nbsp; 2527564 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1 Class A, 5.45% due 4/20/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 4884097 | &nbsp;&nbsp;&nbsp;&nbsp; 4890700 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2 Class A2, 5.22% due 6/20/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 6885567 | &nbsp;&nbsp;&nbsp;&nbsp; 6920086 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Upstart Structured Pass-Through Trust, Series 2022-2A Class A, 4.25% due 6/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2851910 | &nbsp;&nbsp;&nbsp;&nbsp; 2844836 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Verdant Receivables LLC, Series 2023-1A Class A2, 6.24% due 1/13/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4474612 | &nbsp;&nbsp;&nbsp;&nbsp; 4547393 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 466699879 |
|  | &nbsp;&nbsp;**Student Loan — 1.6%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Ascent Education Funding Trust, Series 2024-A Class A, 6.14% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 9418575 | &nbsp;&nbsp;&nbsp;&nbsp; 9677788 |
|  | &nbsp;&nbsp;&nbsp;College Ave Student Loans LLC, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-A Class A1, 4.946% (TSFR1M + 1.21%) due 7/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1797839 | &nbsp;&nbsp;&nbsp;&nbsp; 1795361 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-A Class A2, 1.60% due 7/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 171223 | &nbsp;&nbsp;&nbsp;&nbsp; 158975 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-C Class A1, 4.746% (TSFR1M + 1.01%) due 7/26/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 3853108 | &nbsp;&nbsp;&nbsp;&nbsp; 3817658 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-C Class R, due 7/26/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 38750 | &nbsp;&nbsp;&nbsp;&nbsp; 9251813 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A Class R, due 5/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 16941250 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Commonbond Student Loan Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 18-CGS Class A1, 3.87% due 2/25/2046 | &nbsp;&nbsp;$259051 | &nbsp;&nbsp;$252631 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1 Class A, 1.69% due 10/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 924073 | &nbsp;&nbsp;&nbsp;&nbsp; 852415 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-BGS Class A, 1.17% due 9/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3218368 | &nbsp;&nbsp;&nbsp;&nbsp; 3005620 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;EDvestinU Private Education Loan Issue No. 3 LLC, Series 2021-A Class A, 1.80% due 11/25/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 12569560 | &nbsp;&nbsp;&nbsp;&nbsp; 11925633 |
|  | &nbsp;&nbsp;&nbsp;MPOWER Education Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A Class A, 6.78% due 7/22/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 7318808 | &nbsp;&nbsp;&nbsp;&nbsp; 7679441 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-A Class A, 6.62% due 7/21/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 12440318 | &nbsp;&nbsp;&nbsp;&nbsp; 12676299 |
|  | &nbsp;&nbsp;&nbsp;National Collegiate Student Loan Trust, |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2005-1 Class B, 4.226% (TSFR1M + 0.49%) due 3/26/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1774281 | &nbsp;&nbsp;&nbsp;&nbsp; 1657493 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2006-1 Class A5, 4.196% (TSFR1M + 0.46%) due 3/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 6717119 | &nbsp;&nbsp;&nbsp;&nbsp; 6652301 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2006-4 Class A4, 4.156% (TSFR1M + 0.42%) due 5/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 902382 | &nbsp;&nbsp;&nbsp;&nbsp; 898379 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2007-2 Class A4, 4.136% (TSFR1M + 0.40%) due 1/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 20058879 | &nbsp;&nbsp;&nbsp;&nbsp; 19740515 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Navient Private Education Refi Loan Trust, Series 2019-D Class A2B, 4.915% (TSFR1M + 1.16%) due 12/15/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 1833356 | &nbsp;&nbsp;&nbsp;&nbsp; 1832342 |
|  | &nbsp;&nbsp;&nbsp;Nelnet Student Loan Trust, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-2A Class A2, 4.589% (SOFR30A + 0.71%) due 9/25/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 1103119 | &nbsp;&nbsp;&nbsp;&nbsp; 1071879 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CA Class AFL, 4.588% (TSFR1M + 0.85%) due 4/20/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 1717626 | &nbsp;&nbsp;&nbsp;&nbsp; 1703779 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CA Class AFX, 1.32% due 4/20/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 4575133 | &nbsp;&nbsp;&nbsp;&nbsp; 4312583 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-DA Class AFL, 4.538% (TSFR1M + 0.80%) due 4/20/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 1992935 | &nbsp;&nbsp;&nbsp;&nbsp; 1976557 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;Prodigy Finance DAC, Series 2021-1A Class A, 5.092% (TSFR1M + 1.36%) due 7/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 285167 | &nbsp;&nbsp;&nbsp;&nbsp; 285299 |
|  | &nbsp;&nbsp;&nbsp;SLM Student Loan Trust, |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2008-2 Class A3, 5.325% (SOFR90A + 1.01%) due 4/25/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 20778 | &nbsp;&nbsp;&nbsp;&nbsp; 20758 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2008-5 Class A4, 6.275% (SOFR90A + 1.96%) due 7/25/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 261905 | &nbsp;&nbsp;&nbsp;&nbsp; 255588 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2011-2 Class A2, 5.189% (SOFR30A + 1.31%) due 10/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 1651868 | &nbsp;&nbsp;&nbsp;&nbsp; 1659184 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2012-1 Class A3, 4.939% (SOFR30A + 1.06%) due 9/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1000474 | &nbsp;&nbsp;&nbsp;&nbsp; 992396 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-6 Class A3, 4.639% (SOFR30A + 0.76%) due 6/26/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1180002 | &nbsp;&nbsp;&nbsp;&nbsp; 1169478 |
|  | &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-A Class R, due 1/15/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 2742 | &nbsp;&nbsp;&nbsp;&nbsp; 4505412 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-D Class A1B, 4.465% (TSFR1M + 0.71%) due 3/17/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 1349904 | &nbsp;&nbsp;&nbsp;&nbsp; 1337702 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-A Class D, 4.75% due 11/16/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 2356872 | &nbsp;&nbsp;&nbsp;&nbsp; 2254280 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;SoFi Alternative Trust, Series 2019-C Class PT, 5.68% due 1/25/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 13945897 | &nbsp;&nbsp;&nbsp;&nbsp; 13858205 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program LLC, Series 2021-B Class AFX, 1.14% due 2/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 12722791 | &nbsp;&nbsp;&nbsp;&nbsp; 11201789 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;SoFi Professional Loan Program Trust Series 2021-B Class R1, due 2/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 2041410 |
|  | &nbsp;&nbsp;&nbsp;Towd Point Asset Trust, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-SL1 Class A2, 4.548% (TSFR1M + 0.81%) due 11/20/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 776650 | &nbsp;&nbsp;&nbsp;&nbsp; 776210 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-SL1 Class D, 5.548% (TSFR1M + 1.81%) due 11/20/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 11986000 | &nbsp;&nbsp;&nbsp;&nbsp; 11798878 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 170037301 |
|  | &nbsp;&nbsp;&nbsp;Total Asset Backed Securities (Cost $973,079,330) |  | &nbsp;&nbsp;&nbsp;&nbsp; 967112820 |
|  | **Corporate Bonds — 41.1%** |  |  |
|  | &nbsp;&nbsp;**Automobiles & Components — 0.8%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Automobile Components — 0.1%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;LKQ European Holdings BV (EUR), 4.125% due 4/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6600000 | &nbsp;&nbsp;&nbsp;&nbsp; 7790680 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Real Hero Merger Sub 2, Inc., 6.25% due 2/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2671000 | &nbsp;&nbsp;&nbsp;&nbsp; 1154326 |
|  | &nbsp;&nbsp;&nbsp;**Automobiles — 0.7%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America LLC, 5.00% due 10/12/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 14700000 | &nbsp;&nbsp;&nbsp;&nbsp; 14845236 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Harley-Davidson Financial Services, Inc., 3.05% due 2/14/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 14811750 |
|  | &nbsp;&nbsp;&nbsp;Hyundai Capital America, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.00% due 2/10/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1930000 | &nbsp;&nbsp;&nbsp;&nbsp; 1907632 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.15% due 3/27/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6916000 | &nbsp;&nbsp;&nbsp;&nbsp; 7079494 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.30% due 3/19/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4750000 | &nbsp;&nbsp;&nbsp;&nbsp; 4816785 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.45% due 6/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5400000 | &nbsp;&nbsp;&nbsp;&nbsp; 5431968 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.50% due 3/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3009600 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.50% due 1/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3174120 |
|  | &nbsp;&nbsp;&nbsp;Volkswagen Group of America Finance LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.45% due 9/11/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3507000 | &nbsp;&nbsp;&nbsp;&nbsp; 3520502 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.05% due 3/27/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 12074000 | &nbsp;&nbsp;&nbsp;&nbsp; 12254144 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 79796237 |
|  | &nbsp;&nbsp;**Banks — 1.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Banks — 1.2%** |  |  |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp., |  |  |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series F, 4.625% (TSFR3M + 3.39%) due 9/20/2026 | &nbsp;&nbsp;$1935000 | &nbsp;&nbsp;$1923525 |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series I, 3.75% (5-Yr. CMT + 2.63%) due 12/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 33455000 | &nbsp;&nbsp;&nbsp;&nbsp; 32947153 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Macquarie Bank Ltd., 3.624% due 6/3/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp;&nbsp; 2677360 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;Morgan Stanley Bank NA, 5.016% (SOFR + 0.91%) due 1/12/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5610000 | &nbsp;&nbsp;&nbsp;&nbsp; 5714963 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;NBK SPC Ltd., 1.625% (SOFR + 1.05%) due 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5177000 | &nbsp;&nbsp;&nbsp;&nbsp; 5078378 |
|  | &nbsp;&nbsp;&nbsp;Santander Holdings USA, Inc., |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.741% (SOFR + 1.88%) due 3/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 11370000 | &nbsp;&nbsp;&nbsp;&nbsp; 11759650 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.124% (SOFR + 1.23%) due 5/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5034350 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.66% (SOFR + 3.28%) due 11/9/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 13436880 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co., |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.808% (SOFR + 1.98%) due 7/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3350000 | &nbsp;&nbsp;&nbsp;&nbsp; 3386817 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.574% (SOFR + 1.74%) due 7/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10347700 |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series BB, 3.90% (5-Yr. CMT + 3.45%) due 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 35346000 | &nbsp;&nbsp;&nbsp;&nbsp; 35225824 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 127532600 |
|  | &nbsp;&nbsp;**Capital Goods — 1.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Aerospace & Defense — 0.4%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;BWX Technologies, Inc., 4.125% due 6/30/2028 - 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 16461000 | &nbsp;&nbsp;&nbsp;&nbsp; 16091978 |
|  | &nbsp;&nbsp;&nbsp;TransDigm, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.375% due 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 14860000 | &nbsp;&nbsp;&nbsp;&nbsp; 15341910 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.75% due 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 11165000 | &nbsp;&nbsp;&nbsp;&nbsp; 11379815 |
|  | &nbsp;&nbsp;&nbsp;**Construction & Engineering — 0.0%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Aeropuertos Dominicanos Siglo XXI SA, 7.00% due 6/30/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5255050 |
|  | &nbsp;&nbsp;&nbsp;**Machinery — 0.6%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;ATS Corp., 4.125% due 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9620000 | &nbsp;&nbsp;&nbsp;&nbsp; 9374883 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Axon Enterprise, Inc., 6.125% due 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1975000 | &nbsp;&nbsp;&nbsp;&nbsp; 2045448 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Esab Corp., 6.25% due 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 970000 | &nbsp;&nbsp;&nbsp;&nbsp; 998411 |
|  | &nbsp;&nbsp;&nbsp;Flowserve Corp., 3.50% due 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3431000 | &nbsp;&nbsp;&nbsp;&nbsp; 3270429 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Mueller Water Products, Inc., 4.00% due 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 20714000 | &nbsp;&nbsp;&nbsp;&nbsp; 20144779 |
|  | &nbsp;&nbsp;&nbsp;nVent Finance SARL, |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.75% due 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4097000 | &nbsp;&nbsp;&nbsp;&nbsp; 3687915 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.55% due 4/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3015810 |
|  | &nbsp;&nbsp;&nbsp;Regal Rexnord Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.05% due 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9070000 | &nbsp;&nbsp;&nbsp;&nbsp; 9085238 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.30% due 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6360720 |
|  | &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;LKQ Corp., 6.25% due 6/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 10840000 | &nbsp;&nbsp;&nbsp;&nbsp; 11603136 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Windsor Holdings III LLC, 8.50% due 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 8470000 | &nbsp;&nbsp;&nbsp;&nbsp; 8954653 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 126610175 |
|  | &nbsp;&nbsp;**Commercial & Professional Services — 1.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Commercial Services & Supplies — 1.4%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;ACCO Brands Corp., 4.25% due 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 16611000 | &nbsp;&nbsp;&nbsp;&nbsp; 15393580 |
|  | &nbsp;&nbsp;&nbsp;Avery Dennison Corp., 5.75% due 3/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 16449000 | &nbsp;&nbsp;&nbsp;&nbsp; 17450909 |
|  | &nbsp;&nbsp;&nbsp;Clean Harbors, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.125% due 7/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2001480 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.75% due 10/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 923931 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.375% due 2/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3085980 |
|  | &nbsp;&nbsp;&nbsp;CoreCivic, Inc., 8.25% due 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 12869000 | &nbsp;&nbsp;&nbsp;&nbsp; 13541019 |
|  | &nbsp;&nbsp;&nbsp;Element Fleet Management Corp., |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.643% due 3/13/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5400000 | &nbsp;&nbsp;&nbsp;&nbsp; 5490828 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.271% due 6/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17735000 | &nbsp;&nbsp;&nbsp;&nbsp; 17887521 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.319% due 12/4/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3422000 | &nbsp;&nbsp;&nbsp;&nbsp; 3609183 |
|  | &nbsp;&nbsp;&nbsp;Equifax, Inc., 2.35% due 9/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 9394000 | &nbsp;&nbsp;&nbsp;&nbsp; 8356902 |
|  | &nbsp;&nbsp;&nbsp;GEO Group, Inc., 8.625% due 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 8975000 | &nbsp;&nbsp;&nbsp;&nbsp; 9445739 |
|  | &nbsp;&nbsp;&nbsp;Quanta Services, Inc., 4.75% due 8/9/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3670000 | &nbsp;&nbsp;&nbsp;&nbsp; 3716682 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Rentokil Terminix Funding LLC, 5.00% due 4/28/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 13680000 | &nbsp;&nbsp;&nbsp;&nbsp; 13919126 |
|  | &nbsp;&nbsp;&nbsp;UL Solutions, Inc., 6.50% due 10/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 16950000 | &nbsp;&nbsp;&nbsp;&nbsp; 17905472 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;VT Topco, Inc., 8.50% due 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11362000 | &nbsp;&nbsp;&nbsp;&nbsp; 11853861 |
|  | &nbsp;&nbsp;&nbsp;**Professional Services — 0.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Gartner, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.625% due 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 7155000 | &nbsp;&nbsp;&nbsp;&nbsp; 6906221 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.50% due 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3749000 | &nbsp;&nbsp;&nbsp;&nbsp; 3737565 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Korn Ferry, 4.625% due 12/15/2027 | &nbsp;&nbsp;$17229000 | &nbsp;&nbsp;$17230551 |
|  | &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc., 5.75% due 4/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 3540000 | &nbsp;&nbsp;&nbsp;&nbsp; 3748966 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 176205516 |
|  | &nbsp;&nbsp;**Consumer Discretionary Distribution & Retail — 0.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Broadline Retail — 0.2%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Meituan, 4.50% due 4/2/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 14600000 | &nbsp;&nbsp;&nbsp;&nbsp; 14656064 |
|  | &nbsp;&nbsp;&nbsp;MercadoLibre, Inc., 2.375% due 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6460000 | &nbsp;&nbsp;&nbsp;&nbsp; 6451537 |
|  | &nbsp;&nbsp;&nbsp;**Specialty Retail — 0.4%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Belron U.K. Finance plc, 5.75% due 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2680000 | &nbsp;&nbsp;&nbsp;&nbsp; 2736307 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;El Puerto de Liverpool SAB de CV, 6.255% due 1/22/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 13175000 | &nbsp;&nbsp;&nbsp;&nbsp; 14038490 |
|  | &nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc., 4.35% due 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 11803000 | &nbsp;&nbsp;&nbsp;&nbsp; 11761571 |
|  | &nbsp;&nbsp;&nbsp;Genuine Parts Co., 4.95% due 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 8613000 | &nbsp;&nbsp;&nbsp;&nbsp; 8757009 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 58400978 |
|  | &nbsp;&nbsp;**Consumer Durables & Apparel — 0.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Household Durables — 0.1%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;CD&R Smokey Buyer, Inc./Radio Systems Corp., 9.50% due 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 11475000 | &nbsp;&nbsp;&nbsp;&nbsp; 9281554 |
|  | &nbsp;&nbsp;&nbsp;**Leisure Products — 0.2%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Acushnet Co., 5.625% due 12/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1955000 | &nbsp;&nbsp;&nbsp;&nbsp; 1980708 |
|  | &nbsp;&nbsp;&nbsp;Mattel, Inc., 5.00% due 11/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1575000 | &nbsp;&nbsp;&nbsp;&nbsp; 1585726 |
|  | &nbsp;&nbsp;&nbsp;Polaris, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.60% due 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6637000 | &nbsp;&nbsp;&nbsp;&nbsp; 6707750 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.95% due 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 9875000 | &nbsp;&nbsp;&nbsp;&nbsp; 10469278 |
|  | &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods — 0.3%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Champ Acquisition Corp., 8.375% due 12/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3590000 | &nbsp;&nbsp;&nbsp;&nbsp; 3876123 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Levi Strauss & Co. (EUR), 4.00% due 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2383728 |
|  | &nbsp;&nbsp;&nbsp;Under Armour, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;3.25% due 6/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17454000 | &nbsp;&nbsp;&nbsp;&nbsp; 17353116 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.25% due 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 8990000 | &nbsp;&nbsp;&nbsp;&nbsp; 9017689 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 62655672 |
|  | &nbsp;&nbsp;**Consumer Services — 0.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Diversified Consumer Services — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Service Corp. International, 5.75% due 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5950000 | &nbsp;&nbsp;&nbsp;&nbsp; 6066977 |
|  | &nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure — 0.6%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Arcos Dorados BV, 6.375% due 1/29/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 13740000 | &nbsp;&nbsp;&nbsp;&nbsp; 14555881 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Papa John's International, Inc., 3.875% due 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 12568000 | &nbsp;&nbsp;&nbsp;&nbsp; 11996407 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Sodexo, Inc., Series 2023-2 Class B, 5.15% due 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6149760 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;TKC Holdings, Inc., 6.875% due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 8650000 | &nbsp;&nbsp;&nbsp;&nbsp; 8704236 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;WMG Acquisition Corp. (EUR), 2.25% due 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 19018000 | &nbsp;&nbsp;&nbsp;&nbsp; 21272686 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 68745947 |
|  | &nbsp;&nbsp;**Consumer Staples Distribution & Retail — 0.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Consumer Staples Distribution & Retail — 0.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.875% due 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 13948000 | &nbsp;&nbsp;&nbsp;&nbsp; 13990123 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.25% due 3/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1027720 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.50% due 2/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4725000 | &nbsp;&nbsp;&nbsp;&nbsp; 4822571 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;KeHE Distributors LLC/KeHE Finance Corp./NextWave Distribution, Inc., 9.00% due 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 24136000 | &nbsp;&nbsp;&nbsp;&nbsp; 25384073 |
|  | &nbsp;&nbsp;&nbsp;U.S. Foods, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.75% due 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 13800000 | &nbsp;&nbsp;&nbsp;&nbsp; 13720098 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.75% due 4/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 5465000 | &nbsp;&nbsp;&nbsp;&nbsp; 5566758 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 64511343 |
|  | &nbsp;&nbsp;**Energy — 3.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Energy Equipment & Services — 0.2%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Empresa Generadora de Electricidad Haina SA, 5.625% due 11/8/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 10800000 | &nbsp;&nbsp;&nbsp;&nbsp; 10641240 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Polaris Renewable Energy, Inc., 9.50% due 12/3/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; 6475500 |
|  | &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels — 3.1%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Colorado Interstate Gas Co. LLC/Colorado Interstate Issuing Corp., 4.15% due 8/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 724166 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Columbia Pipelines Holding Co. LLC, 5.097% due 10/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 10410000 | &nbsp;&nbsp;&nbsp;&nbsp; 10592279 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Columbia Pipelines Operating Co. LLC, 5.927% due 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11960000 | &nbsp;&nbsp;&nbsp;&nbsp; 12660497 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Delek Logistics Partners LP/Delek Logistics Finance Corp., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.125% due 6/1/2028 | &nbsp;&nbsp;$2941000 | &nbsp;&nbsp;$2956499 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;8.625% due 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 18140000 | &nbsp;&nbsp;&nbsp;&nbsp; 18961561 |
|  | &nbsp;&nbsp;&nbsp;Ecopetrol SA, |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.75% due 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4850000 | &nbsp;&nbsp;&nbsp;&nbsp; 4972948 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;8.875% due 1/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 10588000 | &nbsp;&nbsp;&nbsp;&nbsp; 11309360 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;El Paso Natural Gas Co. LLC, 3.50% due 2/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1989000 | &nbsp;&nbsp;&nbsp;&nbsp; 1845255 |
|  | &nbsp;&nbsp;&nbsp;Energean Israel Finance Ltd., |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.375% due 3/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6405035 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;8.50% due 9/30/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 13060000 | &nbsp;&nbsp;&nbsp;&nbsp; 13965450 |
|  | &nbsp;&nbsp;&nbsp;Energy Transfer LP, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.05% due 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10520000 | &nbsp;&nbsp;&nbsp;&nbsp; 10688425 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.133% (TSFR3M + 3.28%) due 11/1/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1202856 |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series H, 6.50% (5-Yr. CMT + 5.69%) due 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 22571000 | &nbsp;&nbsp;&nbsp;&nbsp; 22684532 |
|  | &nbsp;&nbsp;&nbsp;Galaxy Pipeline Assets Bidco Ltd., |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.75% due 9/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3288893 | &nbsp;&nbsp;&nbsp;&nbsp; 3208743 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.16% due 3/31/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 16822511 | &nbsp;&nbsp;&nbsp;&nbsp; 15240018 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.625% due 3/31/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 6630000 | &nbsp;&nbsp;&nbsp;&nbsp; 5859262 |
| **<sup>b,e,f,g</sup>** | &nbsp;&nbsp;&nbsp;Gazprom PJSC via Gaz Finance plc, 3.50% due 7/14/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 16000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9833440 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Global Partners LP/GLP Finance Corp., 7.125% due 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 2735000 | &nbsp;&nbsp;&nbsp;&nbsp; 2786391 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Greensaif Pipelines Bidco SARL, 5.853% due 2/23/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10458000 |
|  | &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP, 5.80% due 3/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 4450000 | &nbsp;&nbsp;&nbsp;&nbsp; 4674369 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Medco Maple Tree Pte. Ltd., 8.96% due 4/27/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 13000000 | &nbsp;&nbsp;&nbsp;&nbsp; 13550420 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Midwest Connector Capital Co. LLC, 4.625% due 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5487000 | &nbsp;&nbsp;&nbsp;&nbsp; 5488646 |
|  | &nbsp;&nbsp;&nbsp;MPLX LP, 4.95% due 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 2790000 | &nbsp;&nbsp;&nbsp;&nbsp; 2811902 |
|  | &nbsp;&nbsp;&nbsp;NuStar Logistics LP, 6.00% due 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4007120 |
|  | &nbsp;&nbsp;&nbsp;Petroleos Mexicanos, |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.95% due 1/28/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 8312000 | &nbsp;&nbsp;&nbsp;&nbsp; 8042857 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.84% due 1/23/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 10950000 | &nbsp;&nbsp;&nbsp;&nbsp; 11117754 |
|  | &nbsp;&nbsp;&nbsp;Raizen Fuels Finance SA, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.70% due 1/17/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 11670000 | &nbsp;&nbsp;&nbsp;&nbsp; 9053936 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.45% due 3/5/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 4800000 | &nbsp;&nbsp;&nbsp;&nbsp; 3940080 |
|  | &nbsp;&nbsp;&nbsp;South Bow USA Infrastructure Holdings LLC, 5.026% due 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4460000 | &nbsp;&nbsp;&nbsp;&nbsp; 4526008 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Summit Midstream Holdings LLC, 8.625% due 10/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4950000 | &nbsp;&nbsp;&nbsp;&nbsp; 5129932 |
|  | &nbsp;&nbsp;&nbsp;Sunoco LP, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.875% due 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 16591000 | &nbsp;&nbsp;&nbsp;&nbsp; 16607093 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.625% due 8/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7115000 | &nbsp;&nbsp;&nbsp;&nbsp; 7312370 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.00% due 5/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2083000 | &nbsp;&nbsp;&nbsp;&nbsp; 2171902 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.25% due 5/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7893000 | &nbsp;&nbsp;&nbsp;&nbsp; 8337218 |
| **<sup>c,d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.875% (5-Yr. CMT + 4.230%) due 9/18/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1897000 | &nbsp;&nbsp;&nbsp;&nbsp; 1945374 |
|  | &nbsp;&nbsp;&nbsp;Sunoco LP/Sunoco Finance Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.875% due 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 12530000 | &nbsp;&nbsp;&nbsp;&nbsp; 12552053 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.00% due 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2387000 | &nbsp;&nbsp;&nbsp;&nbsp; 2462334 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;TMS Issuer SARL, 5.78% due 8/23/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 10700000 | &nbsp;&nbsp;&nbsp;&nbsp; 11144371 |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;Transcanada Trust, Series 16-A, 5.875% (SOFR 3 Month + 4.64%) due 8/15/2076 | &nbsp;&nbsp;&nbsp;&nbsp; 6899000 | &nbsp;&nbsp;&nbsp;&nbsp; 6908383 |
|  | &nbsp;&nbsp;&nbsp;Whistler Pipeline LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.40% due 9/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5152550 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.70% due 9/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6560000 | &nbsp;&nbsp;&nbsp;&nbsp; 6809280 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 337217409 |
|  | &nbsp;&nbsp;**Equity Real Estate Investment Trusts (REITs) — 1.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Diversified REITs — 1.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;American Tower Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1.875% due 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5353740 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.70% due 12/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4171000 | &nbsp;&nbsp;&nbsp;&nbsp; 4178466 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.90% due 3/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 521000 | &nbsp;&nbsp;&nbsp;&nbsp; 532123 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.80% due 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5218100 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;American Tower Trust #1, 3.652% due 3/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 14250000 | &nbsp;&nbsp;&nbsp;&nbsp; 14108429 |
|  | &nbsp;&nbsp;&nbsp;Crown Castle, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.225% due 1/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 13797000 | &nbsp;&nbsp;&nbsp;&nbsp; 13765190 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.90% due 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 8536000 | &nbsp;&nbsp;&nbsp;&nbsp; 8663272 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 1/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4163509 |
|  | &nbsp;&nbsp;&nbsp;Extra Space Storage LP, 5.90% due 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1882000 | &nbsp;&nbsp;&nbsp;&nbsp; 1996313 |
|  | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts LP, 4.25% due 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2160000 | &nbsp;&nbsp;&nbsp;&nbsp; 2161642 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Iron Mountain Information Management Services, Inc., 5.00% due 7/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6085000 | &nbsp;&nbsp;&nbsp;&nbsp; 5802778 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Iron Mountain, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.875% due 9/15/2029 | &nbsp;&nbsp;$2000000 | &nbsp;&nbsp;$1972580 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4875000 | &nbsp;&nbsp;&nbsp;&nbsp; 4814647 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.00% due 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 7985000 | &nbsp;&nbsp;&nbsp;&nbsp; 8203789 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Iron Mountain, Inc. (EUR), 4.75% due 1/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 9754000 | &nbsp;&nbsp;&nbsp;&nbsp; 11147786 |
|  | &nbsp;&nbsp;&nbsp;Realty Income Corp., 4.70% due 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4503000 | &nbsp;&nbsp;&nbsp;&nbsp; 4590628 |
|  | &nbsp;&nbsp;&nbsp;SBA Tower Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.631% due 5/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 13500000 | &nbsp;&nbsp;&nbsp;&nbsp; 13208278 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.84% due 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3400000 | &nbsp;&nbsp;&nbsp;&nbsp; 3293741 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.884% due 7/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 2420000 | &nbsp;&nbsp;&nbsp;&nbsp; 2417306 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.831% due 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 16980000 | &nbsp;&nbsp;&nbsp;&nbsp; 17085855 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.599% due 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 15359559 |
|  | &nbsp;&nbsp;&nbsp;Sun Communities Operating LP, 2.70% due 7/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 9377000 | &nbsp;&nbsp;&nbsp;&nbsp; 8529601 |
|  | &nbsp;&nbsp;&nbsp;Vornado Realty LP, 2.15% due 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9336500 | &nbsp;&nbsp;&nbsp;&nbsp; 9229224 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 165796556 |
|  | &nbsp;&nbsp;**Financial Services — 3.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Capital Markets — 1.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Blue Owl Credit Income Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;3.125% due 9/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2176000 | &nbsp;&nbsp;&nbsp;&nbsp; 2151411 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;7.75% due 9/16/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1403447 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Blue Owl Technology Finance Corp., 3.75% due 6/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4232000 | &nbsp;&nbsp;&nbsp;&nbsp; 4206650 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV (GBP), 8.50% due 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 216112 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd., |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.653% due 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 15030000 | &nbsp;&nbsp;&nbsp;&nbsp; 15144679 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.795% due 4/24/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 8500000 | &nbsp;&nbsp;&nbsp;&nbsp; 8888960 |
|  | &nbsp;&nbsp;&nbsp;Burford Capital Global Finance LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.25% due 4/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4972200 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;9.25% due 7/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 18500000 | &nbsp;&nbsp;&nbsp;&nbsp; 19058515 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;Citigroup Global Markets Holdings, Inc., 6.40% due 1/29/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 4108000 | &nbsp;&nbsp;&nbsp;&nbsp; 3729148 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Equitable America Global Funding, 4.30% due 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3011850 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Foresea Holdings SA, 7.50% due 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 198293 | &nbsp;&nbsp;&nbsp;&nbsp; 195521 |
|  | &nbsp;&nbsp;&nbsp;Hercules Capital, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.625% due 9/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12212000 | &nbsp;&nbsp;&nbsp;&nbsp; 12035292 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;3.375% due 1/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 13651000 | &nbsp;&nbsp;&nbsp;&nbsp; 13457019 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Jefferson Capital Holdings LLC, 8.25% due 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5392000 | &nbsp;&nbsp;&nbsp;&nbsp; 5658257 |
|  | &nbsp;&nbsp;&nbsp;LPL Holdings, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 19481000 | &nbsp;&nbsp;&nbsp;&nbsp; 19154498 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.625% due 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4515000 | &nbsp;&nbsp;&nbsp;&nbsp; 4515587 |
|  | &nbsp;&nbsp;&nbsp;Main Street Capital Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;3.00% due 7/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 8291000 | &nbsp;&nbsp;&nbsp;&nbsp; 8219615 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.40% due 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 15150000 | &nbsp;&nbsp;&nbsp;&nbsp; 15212267 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.50% due 6/4/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 23462000 | &nbsp;&nbsp;&nbsp;&nbsp; 23962444 |
|  | &nbsp;&nbsp;&nbsp;Nasdaq, Inc., 5.55% due 2/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 8840000 | &nbsp;&nbsp;&nbsp;&nbsp; 9287127 |
|  | &nbsp;&nbsp;&nbsp;**Consumer Finance — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;FirstCash, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.625% due 1/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 17215000 | &nbsp;&nbsp;&nbsp;&nbsp; 17279556 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.875% due 3/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4927000 | &nbsp;&nbsp;&nbsp;&nbsp; 5131569 |
|  | &nbsp;&nbsp;&nbsp;**Financial Services — 1.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Antares Holdings LP, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.75% due 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1630000 | &nbsp;&nbsp;&nbsp;&nbsp; 1592706 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.75% due 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 6480000 | &nbsp;&nbsp;&nbsp;&nbsp; 6336986 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.95% due 7/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10596000 | &nbsp;&nbsp;&nbsp;&nbsp; 10548106 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.35% due 10/23/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2039440 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.95% due 8/11/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5285950 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;Bank of America Corp., 4.948% (SOFR + 2.04%) due 7/22/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4900000 | &nbsp;&nbsp;&nbsp;&nbsp; 4968600 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;BNP Paribas SA, 2.591% (SOFR + 1.23%) due 1/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1327901 |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;Citigroup, Inc., Series X, 3.875% (5-Yr. CMT + 3.42%) due 2/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 13223000 | &nbsp;&nbsp;&nbsp;&nbsp; 13183463 |
| **<sup>c,d,e</sup>** | &nbsp;&nbsp;&nbsp;Depository Trust & Clearing Corp., Series D, 3.375% (5-Yr. CMT + 2.61%) due 6/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12500000 | &nbsp;&nbsp;&nbsp;&nbsp; 12316000 |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;Deutsche Bank AG, 2.552% (SOFR + 1.32%) due 1/7/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4760000 | &nbsp;&nbsp;&nbsp;&nbsp; 4682174 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.375% due 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4950000 | &nbsp;&nbsp;&nbsp;&nbsp; 5262692 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc., 4.55% (SOFR + 0.82%) due 9/10/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3687000 | &nbsp;&nbsp;&nbsp;&nbsp; 3693305 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc, |  |  |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.583% (TSFR3M + 1.80%) due 6/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3027150 |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.755% (SOFR + 2.11%) due 6/9/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; 1381522 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.844% (SOFR + 1.04%) due 11/19/2028 | &nbsp;&nbsp;$2000000 | &nbsp;&nbsp;$2008780 |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.286% (SOFR + 1.29%) due 11/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3610670 |
|  | &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co., |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.04% (TSFR3M + 0.70%) due 2/4/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1896000 | &nbsp;&nbsp;&nbsp;&nbsp; 1890596 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.54% (TSFR3M + 1.64%) due 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3314000 | &nbsp;&nbsp;&nbsp;&nbsp; 3295508 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc., |  |  |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.309% (H15T1Y + 0.95%) due 7/20/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6238960 |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.017% (H15T1Y + 1.95%) due 7/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1775498 |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.475% (H15T1Y + 1.53%) due 2/22/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2083820 |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;Northern Trust Corp., Series D, 4.60% (TSFR3M + 3.46%) due 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4750000 | &nbsp;&nbsp;&nbsp;&nbsp; 4733518 |
|  | &nbsp;&nbsp;&nbsp;Societe Generale SA, |  |  |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.895% (SOFR + 1.10%) due 2/19/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 6687000 | &nbsp;&nbsp;&nbsp;&nbsp; 6707930 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.634% (H15T1Y + 1.75%) due 1/19/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2063220 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.446% (H15T1Y + 2.55%) due 1/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1667000 | &nbsp;&nbsp;&nbsp;&nbsp; 1733430 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc., 5.852% due 7/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 14550000 | &nbsp;&nbsp;&nbsp;&nbsp; 15456319 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;Truist Financial Corp., 7.161% (SOFR + 2.45%) due 10/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; 6740562 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;UBS Group AG, 1.494% (H15T1Y + 0.85%) due 8/10/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2679000 | &nbsp;&nbsp;&nbsp;&nbsp; 2635359 |
|  | &nbsp;&nbsp;&nbsp;**Mortgage Real Estate Investment Trusts — 0.2%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Lineage OP LP, 5.25% due 7/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 16078000 | &nbsp;&nbsp;&nbsp;&nbsp; 16226721 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Prologis Targeted U.S. Logistics Fund LP, 5.25% due 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5530000 | &nbsp;&nbsp;&nbsp;&nbsp; 5692748 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 355431358 |
|  | &nbsp;&nbsp;**Food, Beverage & Tobacco — 1.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Beverages — 0.7%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Becle SAB de CV, 2.50% due 10/14/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 34064000 | &nbsp;&nbsp;&nbsp;&nbsp; 29551201 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL, 5.25% due 4/27/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 24655000 | &nbsp;&nbsp;&nbsp;&nbsp; 24278272 |
|  | &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc., 3.483% due 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 726000 | &nbsp;&nbsp;&nbsp;&nbsp; 718246 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Industrializadora Integral del agave SAPI de CV, 9.25% due 11/26/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 15207000 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr. Pepper, Inc., 4.60% due 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5520000 | &nbsp;&nbsp;&nbsp;&nbsp; 5550084 |
|  | &nbsp;&nbsp;&nbsp;**Food Products — 0.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Darling Ingredients, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3700000 | &nbsp;&nbsp;&nbsp;&nbsp; 3698594 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.00% due 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1016900 |
|  | &nbsp;&nbsp;&nbsp;Flowers Foods, Inc., 5.75% due 3/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 29063000 | &nbsp;&nbsp;&nbsp;&nbsp; 29157455 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Froneri Lux FinCo SARL (EUR), 4.75% due 8/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2368945 |
|  | &nbsp;&nbsp;&nbsp;Post Holdings, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.625% due 4/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 8860000 | &nbsp;&nbsp;&nbsp;&nbsp; 8626273 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.25% due 2/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 2950000 | &nbsp;&nbsp;&nbsp;&nbsp; 3033455 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.375% due 3/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5048750 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.50% due 3/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 1820000 | &nbsp;&nbsp;&nbsp;&nbsp; 1822821 |
|  | &nbsp;&nbsp;&nbsp;**Tobacco — 0.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Altria Group, Inc., 2.45% due 2/4/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 9890000 | &nbsp;&nbsp;&nbsp;&nbsp; 8750079 |
|  | &nbsp;&nbsp;&nbsp;BAT Capital Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.625% due 3/22/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 2988000 | &nbsp;&nbsp;&nbsp;&nbsp; 2967413 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;7.75% due 10/19/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4862000 | &nbsp;&nbsp;&nbsp;&nbsp; 5680663 |
|  | &nbsp;&nbsp;&nbsp;Imperial Brands Finance plc, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.50% due 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 22500000 | &nbsp;&nbsp;&nbsp;&nbsp; 23306850 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.125% due 7/27/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2057580 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Turning Point Brands, Inc., 7.625% due 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1066250 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 173906831 |
|  | &nbsp;&nbsp;**Health Care Equipment & Services — 1.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies — 0.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Baxter International, Inc., 4.90% due 12/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2741000 | &nbsp;&nbsp;&nbsp;&nbsp; 2759310 |
|  | &nbsp;&nbsp;&nbsp;Hologic, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.25% due 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 7280000 | &nbsp;&nbsp;&nbsp;&nbsp; 7175168 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.625% due 2/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6677000 | &nbsp;&nbsp;&nbsp;&nbsp; 6675865 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Medline Borrower LP, 3.875% due 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1955520 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Medline Borrower LP/Medline Co-Issuer, Inc., 6.25% due 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 7950000 | &nbsp;&nbsp;&nbsp;&nbsp; 8230794 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Olympus Corp., 2.143% due 12/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5510000 | &nbsp;&nbsp;&nbsp;&nbsp; 5409112 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;VSP Optical Group, Inc., 5.45% due 12/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 2832000 | &nbsp;&nbsp;&nbsp;&nbsp; 2852192 |
|  | &nbsp;&nbsp;&nbsp;**Health Care Providers & Services — 1.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Centene Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.625% due 8/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3950000 | &nbsp;&nbsp;&nbsp;&nbsp; 3393879 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;3.00% due 10/15/2030 | &nbsp;&nbsp;$6962000 | &nbsp;&nbsp;$6229319 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.625% due 12/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5775000 | &nbsp;&nbsp;&nbsp;&nbsp; 5599960 |
|  | &nbsp;&nbsp;&nbsp;Charles River Laboratories International, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.75% due 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 6567000 | &nbsp;&nbsp;&nbsp;&nbsp; 6345955 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.25% due 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 10370000 | &nbsp;&nbsp;&nbsp;&nbsp; 10278951 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Highmark, Inc., 1.45% due 5/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 18630000 | &nbsp;&nbsp;&nbsp;&nbsp; 18421344 |
|  | &nbsp;&nbsp;&nbsp;Humana, Inc., 5.375% due 4/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6569000 | &nbsp;&nbsp;&nbsp;&nbsp; 6786959 |
|  | &nbsp;&nbsp;&nbsp;IQVIA, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 10/15/2026 - 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 6900000 | &nbsp;&nbsp;&nbsp;&nbsp; 6897518 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.70% due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5155200 |
|  | &nbsp;&nbsp;&nbsp;IQVIA, Inc. (EUR), |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.25% due 3/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 9460000 | &nbsp;&nbsp;&nbsp;&nbsp; 10771530 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.875% due 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5830520 |
|  | &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.125% due 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4608270 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.75% due 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 16224000 | &nbsp;&nbsp;&nbsp;&nbsp; 16870040 |
|  | &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1.65% due 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6179000 | &nbsp;&nbsp;&nbsp;&nbsp; 6077603 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.65% due 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4646000 | &nbsp;&nbsp;&nbsp;&nbsp; 4234736 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.625% due 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 14035000 | &nbsp;&nbsp;&nbsp;&nbsp; 14093666 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 166653411 |
|  | &nbsp;&nbsp;**Household & Personal Products — 0.5%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Household Products — 0.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Energizer Holdings, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.75% due 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 7268000 | &nbsp;&nbsp;&nbsp;&nbsp; 7185145 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.00% due 9/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1917540 |
|  | &nbsp;&nbsp;&nbsp;Prestige Brands, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.75% due 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6386000 | &nbsp;&nbsp;&nbsp;&nbsp; 5961842 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.125% due 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 12321000 | &nbsp;&nbsp;&nbsp;&nbsp; 12318782 |
|  | &nbsp;&nbsp;&nbsp;Scotts Miracle-Gro Co., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.375% due 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 13166000 | &nbsp;&nbsp;&nbsp;&nbsp; 12355369 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 12/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1997300 |
|  | &nbsp;&nbsp;&nbsp;**Personal Care Products — 0.1%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Edgewell Personal Care Co., 5.50% due 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9892000 | &nbsp;&nbsp;&nbsp;&nbsp; 9898232 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 51634210 |
|  | &nbsp;&nbsp;**Insurance — 5.5%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Insurance — 5.5%** |  |  |
|  | &nbsp;&nbsp;&nbsp;American National Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 6/3/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 8340000 | &nbsp;&nbsp;&nbsp;&nbsp; 8476776 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.55% due 1/28/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 12303000 | &nbsp;&nbsp;&nbsp;&nbsp; 12644162 |
|  | &nbsp;&nbsp;&nbsp;American National Group, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.75% due 10/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4408000 | &nbsp;&nbsp;&nbsp;&nbsp; 4562897 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.144% due 6/13/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 12684000 | &nbsp;&nbsp;&nbsp;&nbsp; 13241081 |
|  | &nbsp;&nbsp;&nbsp;Aon North America, Inc., 5.45% due 3/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 11280000 | &nbsp;&nbsp;&nbsp;&nbsp; 11729057 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Ascot Group Ltd., 4.25% due 12/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6889000 | &nbsp;&nbsp;&nbsp;&nbsp; 6387963 |
|  | &nbsp;&nbsp;&nbsp;Brighthouse Financial Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.55% due 5/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2089000 | &nbsp;&nbsp;&nbsp;&nbsp; 2065624 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.00% due 6/28/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9540000 | &nbsp;&nbsp;&nbsp;&nbsp; 8955198 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.55% due 4/9/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 16438000 | &nbsp;&nbsp;&nbsp;&nbsp; 16668132 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.65% due 6/10/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4056000 | &nbsp;&nbsp;&nbsp;&nbsp; 4145962 |
|  | &nbsp;&nbsp;&nbsp;Brown & Brown, Inc., 5.65% due 6/11/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 6184000 | &nbsp;&nbsp;&nbsp;&nbsp; 6382630 |
|  | &nbsp;&nbsp;&nbsp;CNA Financial Corp., 5.125% due 2/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 6785000 | &nbsp;&nbsp;&nbsp;&nbsp; 6829577 |
|  | &nbsp;&nbsp;&nbsp;CNO Financial Group, Inc., 6.45% due 6/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 11385000 | &nbsp;&nbsp;&nbsp;&nbsp; 12045558 |
|  | &nbsp;&nbsp;&nbsp;CNO Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.65% due 1/6/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 7400000 | &nbsp;&nbsp;&nbsp;&nbsp; 7033996 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.375% due 9/8/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4350000 | &nbsp;&nbsp;&nbsp;&nbsp; 4355742 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.70% due 12/11/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5011050 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Constellation Global Funding, 4.85% due 10/22/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 14797000 | &nbsp;&nbsp;&nbsp;&nbsp; 14693125 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Corebridge Global Funding, 5.75% due 7/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4740000 | &nbsp;&nbsp;&nbsp;&nbsp; 4781380 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;DaVinciRe Holdings Ltd., 5.95% due 4/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 6475000 | &nbsp;&nbsp;&nbsp;&nbsp; 6658307 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Enstar Group Ltd., 3.10% due 9/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 12701000 | &nbsp;&nbsp;&nbsp;&nbsp; 11404990 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Equitable America Global Funding, 4.95% due 6/9/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6049000 | &nbsp;&nbsp;&nbsp;&nbsp; 6164052 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Equitable Financial Life Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.40% due 8/27/2027 | &nbsp;&nbsp;$4620000 | &nbsp;&nbsp;$4431596 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 3/27/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 8690000 | &nbsp;&nbsp;&nbsp;&nbsp; 8879268 |
|  | &nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc., 6.50% due 6/4/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 16240000 | &nbsp;&nbsp;&nbsp;&nbsp; 16912336 |
|  | &nbsp;&nbsp;&nbsp;F&G Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.75% due 6/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 7973000 | &nbsp;&nbsp;&nbsp;&nbsp; 7874693 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.00% due 9/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3081000 | &nbsp;&nbsp;&nbsp;&nbsp; 2886712 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.875% due 1/16/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5377000 | &nbsp;&nbsp;&nbsp;&nbsp; 5573852 |
|  | &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd., |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.625% due 4/29/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4673000 | &nbsp;&nbsp;&nbsp;&nbsp; 4689636 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.625% due 8/16/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3249000 | &nbsp;&nbsp;&nbsp;&nbsp; 3390721 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Fidelis Insurance Holdings Ltd., 4.875% due 6/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4409000 | &nbsp;&nbsp;&nbsp;&nbsp; 4360236 |
|  | &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc., 2.45% due 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5137000 | &nbsp;&nbsp;&nbsp;&nbsp; 4587290 |
|  | &nbsp;&nbsp;&nbsp;First American Financial Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.40% due 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 2261000 | &nbsp;&nbsp;&nbsp;&nbsp; 1973333 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1457000 | &nbsp;&nbsp;&nbsp;&nbsp; 1409006 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Five Corners Funding Trust III, 5.791% due 2/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 7260000 | &nbsp;&nbsp;&nbsp;&nbsp; 7654073 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Fortitude Global Funding, 4.625% due 10/6/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 7342000 | &nbsp;&nbsp;&nbsp;&nbsp; 7346185 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Fortitude Group Holdings LLC, 6.25% due 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 10057000 | &nbsp;&nbsp;&nbsp;&nbsp; 10473662 |
|  | &nbsp;&nbsp;&nbsp;GA Global Funding Trust, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.625% due 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 609408 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.25% due 1/6/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2971000 | &nbsp;&nbsp;&nbsp;&nbsp; 2914224 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.40% due 9/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 9223000 | &nbsp;&nbsp;&nbsp;&nbsp; 9253528 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.50% due 9/18/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6424080 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Global Atlantic Fin Co., 4.40% due 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 7275000 | &nbsp;&nbsp;&nbsp;&nbsp; 7162165 |
|  | &nbsp;&nbsp;&nbsp;Globe Life, Inc., 5.85% due 9/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 7582000 | &nbsp;&nbsp;&nbsp;&nbsp; 7966028 |
|  | &nbsp;&nbsp;&nbsp;Horace Mann Educators Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.70% due 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 7908000 | &nbsp;&nbsp;&nbsp;&nbsp; 7844973 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;7.25% due 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6427260 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Intact Financial Corp., 5.459% due 9/22/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5922000 | &nbsp;&nbsp;&nbsp;&nbsp; 6117959 |
|  | &nbsp;&nbsp;&nbsp;Jackson National Life Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.70% due 6/5/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5350000 | &nbsp;&nbsp;&nbsp;&nbsp; 5402269 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 4/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4897000 | &nbsp;&nbsp;&nbsp;&nbsp; 4998711 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.50% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17000000 | &nbsp;&nbsp;&nbsp;&nbsp; 17005270 |
|  | &nbsp;&nbsp;&nbsp;Lincoln National Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.35% due 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 4488000 | &nbsp;&nbsp;&nbsp;&nbsp; 4530771 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.852% due 3/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5247700 |
|  | &nbsp;&nbsp;&nbsp;Mercury General Corp., 4.40% due 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 9408000 | &nbsp;&nbsp;&nbsp;&nbsp; 9397275 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;New York Life Global Funding, 4.55% due 1/28/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 4400000 | &nbsp;&nbsp;&nbsp;&nbsp; 4384908 |
|  | &nbsp;&nbsp;&nbsp;NLG Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.35% due 9/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 9834000 | &nbsp;&nbsp;&nbsp;&nbsp; 9723269 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.40% due 1/23/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11985000 | &nbsp;&nbsp;&nbsp;&nbsp; 12332805 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Pacific Life Global Funding II, 4.366% (SOFR + 0.62%) due 6/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4533000 | &nbsp;&nbsp;&nbsp;&nbsp; 4538893 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Peachtree Corners Funding Trust II, 6.012% due 5/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 7292000 | &nbsp;&nbsp;&nbsp;&nbsp; 7678914 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Pentair Finance SARL, 5.90% due 7/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 9193000 | &nbsp;&nbsp;&nbsp;&nbsp; 9759473 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Principal Life Global Funding II, 5.50% due 6/28/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6400000 | &nbsp;&nbsp;&nbsp;&nbsp; 6599616 |
|  | &nbsp;&nbsp;&nbsp;Protective Life Corp., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.40% due 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4902000 | &nbsp;&nbsp;&nbsp;&nbsp; 4729008 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.70% due 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5857000 | &nbsp;&nbsp;&nbsp;&nbsp; 5873458 |
|  | &nbsp;&nbsp;&nbsp;Protective Life Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.161% due 1/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4925000 | &nbsp;&nbsp;&nbsp;&nbsp; 4932043 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.467% due 12/8/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4850000 | &nbsp;&nbsp;&nbsp;&nbsp; 5020477 |
|  | &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc., 6.00% due 9/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 7001000 | &nbsp;&nbsp;&nbsp;&nbsp; 7460966 |
|  | &nbsp;&nbsp;&nbsp;Reliance Standard Life Global Funding II, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.512% due 9/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3918520 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.243% due 2/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 22908000 | &nbsp;&nbsp;&nbsp;&nbsp; 22918767 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings Ltd., 5.75% due 6/5/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 9395000 | &nbsp;&nbsp;&nbsp;&nbsp; 9825479 |
|  | &nbsp;&nbsp;&nbsp;RGA Global Funding, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.70% due 1/18/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 9687000 | &nbsp;&nbsp;&nbsp;&nbsp; 9235489 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.60% due 11/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6179000 | &nbsp;&nbsp;&nbsp;&nbsp; 6179371 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.448% due 5/24/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4138920 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.50% due 1/11/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5458000 | &nbsp;&nbsp;&nbsp;&nbsp; 5676047 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Sammons Financial Group Global Funding, 4.80% due 12/12/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6106000 | &nbsp;&nbsp;&nbsp;&nbsp; 6116136 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Sammons Financial Group, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.45% due 5/12/2027 | &nbsp;&nbsp;$2000000 | &nbsp;&nbsp;$1999440 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.875% due 4/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 6610000 | &nbsp;&nbsp;&nbsp;&nbsp; 7236364 |
|  | &nbsp;&nbsp;&nbsp;Stewart Information Services Corp., 3.60% due 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 16620000 | &nbsp;&nbsp;&nbsp;&nbsp; 14692745 |
|  | &nbsp;&nbsp;&nbsp;Unum Group, 5.25% due 12/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 11920000 | &nbsp;&nbsp;&nbsp;&nbsp; 11838110 |
|  | &nbsp;&nbsp;&nbsp;Willis North America, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.95% due 9/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2855670 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.55% due 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5693000 | &nbsp;&nbsp;&nbsp;&nbsp; 5703874 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.35% due 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 9835000 | &nbsp;&nbsp;&nbsp;&nbsp; 10148146 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 573498387 |
|  | &nbsp;&nbsp;**Materials — 3.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Chemicals — 1.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. (EUR), 1.80% due 9/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 13400000 | &nbsp;&nbsp;&nbsp;&nbsp; 15656343 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Ma'aden Sukuk Ltd., 5.25% due 2/13/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 26000000 | &nbsp;&nbsp;&nbsp;&nbsp; 26653900 |
|  | &nbsp;&nbsp;&nbsp;NOVA Chemicals Corp., |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 17905000 | &nbsp;&nbsp;&nbsp;&nbsp; 18011535 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.00% due 12/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5327300 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;9.00% due 2/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5339450 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Nufarm Australia Ltd./Nufarm Americas, Inc., 5.00% due 1/27/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 12383000 | &nbsp;&nbsp;&nbsp;&nbsp; 11364003 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;OCP SA, 3.75% due 6/23/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 7200000 | &nbsp;&nbsp;&nbsp;&nbsp; 6731928 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;SNF Group SACA, 3.125% due 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 8405000 | &nbsp;&nbsp;&nbsp;&nbsp; 8258921 |
|  | &nbsp;&nbsp;&nbsp;**Containers & Packaging — 1.4%** |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Amcor Group Finance plc, 5.45% due 5/23/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4400000 | &nbsp;&nbsp;&nbsp;&nbsp; 4549600 |
|  | &nbsp;&nbsp;&nbsp;AptarGroup, Inc., 4.75% due 3/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6700000 | &nbsp;&nbsp;&nbsp;&nbsp; 6749714 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance plc, 3.25% due 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 8510000 | &nbsp;&nbsp;&nbsp;&nbsp; 8193088 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 6.25% due 1/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 306759 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC (EUR), 5.00% due 1/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1779141 |
|  | &nbsp;&nbsp;&nbsp;Ball Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.875% due 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 19714000 | &nbsp;&nbsp;&nbsp;&nbsp; 18204302 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.50% due 9/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 6643000 | &nbsp;&nbsp;&nbsp;&nbsp; 6766693 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.00% due 6/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1029020 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Berry Global, Inc., 4.875% due 7/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12729000 | &nbsp;&nbsp;&nbsp;&nbsp; 12732946 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Crown Americas LLC, 5.875% due 6/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5115450 |
|  | &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.50% due 3/15/2028 - 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 12150000 | &nbsp;&nbsp;&nbsp;&nbsp; 11700956 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.375% due 7/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5980000 | &nbsp;&nbsp;&nbsp;&nbsp; 6082198 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Matthews International Corp., 8.625% due 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 7730000 | &nbsp;&nbsp;&nbsp;&nbsp; 7976123 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;OI European Group BV (EUR), 6.25% due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3623788 |
|  | &nbsp;&nbsp;&nbsp;Sealed Air Corp., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.573% due 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 17665000 | &nbsp;&nbsp;&nbsp;&nbsp; 17286262 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 8460000 | &nbsp;&nbsp;&nbsp;&nbsp; 8514144 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.50% due 7/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4146000 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Sealed Air Corp./Sealed Air Corp. U.S., 7.25% due 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 520545 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Silgan Holdings, Inc., 1.40% due 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 20762000 | &nbsp;&nbsp;&nbsp;&nbsp; 20586561 |
|  | &nbsp;&nbsp;&nbsp;**Metals & Mining — 0.6%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Cia de Minas Buenaventura SAA, 6.80% due 2/4/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4157160 |
| **<sup>b,e,f,g</sup>** | &nbsp;&nbsp;&nbsp;Metalloinvest Finance DAC, 3.375% due 10/22/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 7500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3808725 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Navoi Mining & Metallurgical Combinat, 6.70% due 10/17/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 19170000 | &nbsp;&nbsp;&nbsp;&nbsp; 19835582 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Novelis Corp., 3.875% due 8/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 12730000 | &nbsp;&nbsp;&nbsp;&nbsp; 11578572 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;POSCO, 5.625% due 1/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2350000 | &nbsp;&nbsp;&nbsp;&nbsp; 2351222 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Stillwater Mining Co., 4.50% due 11/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3050000 | &nbsp;&nbsp;&nbsp;&nbsp; 2885178 |
|  | &nbsp;&nbsp;&nbsp;WE Soda Investments Holding plc, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;9.375% due 2/14/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4150000 | &nbsp;&nbsp;&nbsp;&nbsp; 4163529 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;9.50% due 10/6/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 16000000 | &nbsp;&nbsp;&nbsp;&nbsp; 16122720 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 308109358 |
|  | &nbsp;&nbsp;**Media & Entertainment — 0.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Entertainment — 0.1%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Flutter Treasury DAC, 5.875% due 6/4/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6086340 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Flutter Treasury DAC (EUR), 4.00% due 6/4/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3700000 | &nbsp;&nbsp;&nbsp;&nbsp; 4332760 |
|  | &nbsp;&nbsp;&nbsp;**Media — 0.6%** |  |  |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.25% due 2/1/2031 - 1/15/2034 | &nbsp;&nbsp;$11548000 | &nbsp;&nbsp;$10274200 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.75% due 3/1/2030 - 2/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 9273000 | &nbsp;&nbsp;&nbsp;&nbsp; 8832373 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.875% due 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 1591000 | &nbsp;&nbsp;&nbsp;&nbsp; 1599846 |
|  | &nbsp;&nbsp;&nbsp;News Corp., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.875% due 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1940640 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.125% due 2/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4980000 | &nbsp;&nbsp;&nbsp;&nbsp; 4908039 |
|  | &nbsp;&nbsp;&nbsp;Sirius XM Radio LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9815000 | &nbsp;&nbsp;&nbsp;&nbsp; 9590727 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 11960000 | &nbsp;&nbsp;&nbsp;&nbsp; 11976505 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.50% due 7/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3250000 | &nbsp;&nbsp;&nbsp;&nbsp; 3276878 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Telenet Finance Luxembourg Notes SARL, 5.50% due 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 14200000 | &nbsp;&nbsp;&nbsp;&nbsp; 14129568 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 76947876 |
|  | &nbsp;&nbsp;**Pharmaceuticals, Biotechnology & Life Sciences — 0.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Biotechnology — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Amgen, Inc., 5.25% due 3/2/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5179300 |
|  | &nbsp;&nbsp;&nbsp;Illumina, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.65% due 9/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2902000 | &nbsp;&nbsp;&nbsp;&nbsp; 2910532 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.75% due 12/12/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 9649000 | &nbsp;&nbsp;&nbsp;&nbsp; 9744911 |
|  | &nbsp;&nbsp;&nbsp;**Life Sciences Tools & Services — 0.0%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Avantor Funding, Inc., 4.625% due 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4945000 | &nbsp;&nbsp;&nbsp;&nbsp; 4917011 |
|  | &nbsp;&nbsp;&nbsp;**Pharmaceuticals — 0.2%** |  |  |
| **<sup>a,b,f</sup>** | &nbsp;&nbsp;&nbsp;Atlas U.S. Royalty LLC Participation Rights, Zero Coupon due 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5450000 | &nbsp;&nbsp;&nbsp;&nbsp; 545 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;PRA Health Sciences, Inc., 2.875% due 7/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5402000 | &nbsp;&nbsp;&nbsp;&nbsp; 5359270 |
|  | &nbsp;&nbsp;&nbsp;Utah Acquisition Sub, Inc., 3.95% due 6/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10595000 | &nbsp;&nbsp;&nbsp;&nbsp; 10561308 |
|  | &nbsp;&nbsp;&nbsp;Viatris, Inc., 2.30% due 6/22/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5184000 | &nbsp;&nbsp;&nbsp;&nbsp; 5034183 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 43707060 |
|  | &nbsp;&nbsp;**Real Estate Management & Development — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Real Estate Management & Development — 0.2%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Cushman & Wakefield U.S. Borrower LLC, 6.75% due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 13774000 | &nbsp;&nbsp;&nbsp;&nbsp; 13847140 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Greystar Real Estate Partners LLC, 7.75% due 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2490000 | &nbsp;&nbsp;&nbsp;&nbsp; 2624908 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16472048 |
|  | &nbsp;&nbsp;**Semiconductors & Semiconductor Equipment — 0.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment — 0.4%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Broadcom, Inc., 3.187% due 11/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 4861000 | &nbsp;&nbsp;&nbsp;&nbsp; 4124558 |
|  | &nbsp;&nbsp;&nbsp;Micron Technology, Inc., 5.65% due 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4651000 | &nbsp;&nbsp;&nbsp;&nbsp; 4891178 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Qorvo, Inc., 3.375% due 4/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 26626000 | &nbsp;&nbsp;&nbsp;&nbsp; 24649552 |
|  | &nbsp;&nbsp;&nbsp;SK Hynix, Inc., |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.50% due 1/19/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4400000 | &nbsp;&nbsp;&nbsp;&nbsp; 4394148 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.25% due 1/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4800000 | &nbsp;&nbsp;&nbsp;&nbsp; 4803552 |
|  | &nbsp;&nbsp;&nbsp;Skyworks Solutions, Inc., 1.80% due 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2701000 | &nbsp;&nbsp;&nbsp;&nbsp; 2672829 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 45535817 |
|  | &nbsp;&nbsp;**Software & Services — 2.9%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Information Technology Services — 1.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Block Financial LLC, 2.50% due 7/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3605000 | &nbsp;&nbsp;&nbsp;&nbsp; 3439819 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Boost Newco Borrower LLC, 7.50% due 1/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8503120 |
|  | &nbsp;&nbsp;&nbsp;Booz Allen Hamilton, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.875% due 9/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 14132000 | &nbsp;&nbsp;&nbsp;&nbsp; 13885114 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 7/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 7440000 | &nbsp;&nbsp;&nbsp;&nbsp; 7279594 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.95% due 4/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 4992000 | &nbsp;&nbsp;&nbsp;&nbsp; 5178351 |
|  | &nbsp;&nbsp;&nbsp;DXC Technology Co., 2.375% due 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 11657000 | &nbsp;&nbsp;&nbsp;&nbsp; 10991852 |
|  | &nbsp;&nbsp;&nbsp;Genpact Luxembourg SARL/Genpact USA, Inc., |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.75% due 4/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1626000 | &nbsp;&nbsp;&nbsp;&nbsp; 1613984 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.00% due 6/4/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4424000 | &nbsp;&nbsp;&nbsp;&nbsp; 4613966 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Genpact U.K. Finco PLC/Genpact USA, Inc., 4.95% due 11/18/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3964000 | &nbsp;&nbsp;&nbsp;&nbsp; 3962613 |
|  | &nbsp;&nbsp;&nbsp;Global Payments, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1.20% due 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1401000 | &nbsp;&nbsp;&nbsp;&nbsp; 1394401 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.50% due 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 12244000 | &nbsp;&nbsp;&nbsp;&nbsp; 12268978 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.30% due 8/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 4441000 | &nbsp;&nbsp;&nbsp;&nbsp; 4544564 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Insight Enterprises, Inc., 6.625% due 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4700000 | &nbsp;&nbsp;&nbsp;&nbsp; 4829767 |
|  | &nbsp;&nbsp;&nbsp;Kyndryl Holdings, Inc., 2.05% due 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 7816000 | &nbsp;&nbsp;&nbsp;&nbsp; 7686645 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Science Applications International Corp., 4.875% due 4/1/2028 | &nbsp;&nbsp;$33305000 | &nbsp;&nbsp;$33257374 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Wipro IT Services LLC, 1.50% due 6/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3953000 | &nbsp;&nbsp;&nbsp;&nbsp; 3901176 |
|  | &nbsp;&nbsp;&nbsp;**Internet Software & Services — 0.6%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Arches Buyer, Inc., 4.25% due 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 19319000 | &nbsp;&nbsp;&nbsp;&nbsp; 18962371 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Cogent Communications Group LLC/Cogent Finance, Inc., 7.00% due 6/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 11067000 | &nbsp;&nbsp;&nbsp;&nbsp; 11042542 |
|  | &nbsp;&nbsp;&nbsp;Prosus NV, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.061% due 7/13/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 656000 | &nbsp;&nbsp;&nbsp;&nbsp; 596416 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.193% due 1/19/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 11494000 | &nbsp;&nbsp;&nbsp;&nbsp; 11006310 |
|  | &nbsp;&nbsp;&nbsp;Prosus NV (EUR), |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.288% due 7/13/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 8715000 | &nbsp;&nbsp;&nbsp;&nbsp; 9561705 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.031% due 8/3/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7367728 |
|  | &nbsp;&nbsp;&nbsp;VeriSign, Inc., 5.25% due 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6508000 | &nbsp;&nbsp;&nbsp;&nbsp; 6690094 |
|  | &nbsp;&nbsp;&nbsp;**Software — 1.1%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Constellation Software, Inc., 5.158% due 2/16/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 9218000 | &nbsp;&nbsp;&nbsp;&nbsp; 9391667 |
|  | &nbsp;&nbsp;&nbsp;Fair Isaac Corp., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 6/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 16087000 | &nbsp;&nbsp;&nbsp;&nbsp; 15875617 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 5/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 20710000 | &nbsp;&nbsp;&nbsp;&nbsp; 20736716 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.00% due 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1025320 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;GoTo Group, Inc., 5.50% due 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5292209 | &nbsp;&nbsp;&nbsp;&nbsp; 2989973 |
|  | &nbsp;&nbsp;&nbsp;MSCI, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.875% due 2/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 9973000 | &nbsp;&nbsp;&nbsp;&nbsp; 9586347 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 11/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 6289000 | &nbsp;&nbsp;&nbsp;&nbsp; 6161207 |
|  | &nbsp;&nbsp;&nbsp;Open Text Corp., |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.875% due 2/15/2028 - 12/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 10828000 | &nbsp;&nbsp;&nbsp;&nbsp; 10456525 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.90% due 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 18395000 | &nbsp;&nbsp;&nbsp;&nbsp; 19135031 |
|  | &nbsp;&nbsp;&nbsp;Paychex, Inc., 5.35% due 4/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3044000 | &nbsp;&nbsp;&nbsp;&nbsp; 3152823 |
|  | &nbsp;&nbsp;&nbsp;SS&C Technologies, Inc., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.50% due 9/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 2670000 | &nbsp;&nbsp;&nbsp;&nbsp; 2672323 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.50% due 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6700000 | &nbsp;&nbsp;&nbsp;&nbsp; 6964449 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 300726482 |
|  | &nbsp;&nbsp;**Technology Hardware & Equipment — 1.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Electronic Equipment, Instruments & Components — 1.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Avnet, Inc., 6.25% due 3/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 14700000 | &nbsp;&nbsp;&nbsp;&nbsp; 15229494 |
|  | &nbsp;&nbsp;&nbsp;CDW LLC/CDW Finance Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;3.25% due 2/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 5238000 | &nbsp;&nbsp;&nbsp;&nbsp; 5045765 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.25% due 4/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 18083000 | &nbsp;&nbsp;&nbsp;&nbsp; 18035442 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.10% due 3/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 9391000 | &nbsp;&nbsp;&nbsp;&nbsp; 9565954 |
|  | &nbsp;&nbsp;&nbsp;Flex Ltd., |  |  |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.875% due 5/12/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4671000 | &nbsp;&nbsp;&nbsp;&nbsp; 4737048 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 1/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 2662000 | &nbsp;&nbsp;&nbsp;&nbsp; 2714362 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.00% due 1/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 3886000 | &nbsp;&nbsp;&nbsp;&nbsp; 4012956 |
|  | &nbsp;&nbsp;&nbsp;Sensata Technologies BV, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1236000 | &nbsp;&nbsp;&nbsp;&nbsp; 1206324 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.875% due 9/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 9175000 | &nbsp;&nbsp;&nbsp;&nbsp; 9328223 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Sensata Technologies, Inc., 6.625% due 7/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 837448 |
|  | &nbsp;&nbsp;&nbsp;TD SYNNEX Corp., 1.75% due 8/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 26068000 | &nbsp;&nbsp;&nbsp;&nbsp; 25676719 |
|  | &nbsp;&nbsp;&nbsp;Vontier Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1.80% due 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4453000 | &nbsp;&nbsp;&nbsp;&nbsp; 4425302 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.40% due 4/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 11254000 | &nbsp;&nbsp;&nbsp;&nbsp; 10788985 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;WESCO Distribution, Inc., 6.375% due 3/15/2029 - 3/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 7315000 | &nbsp;&nbsp;&nbsp;&nbsp; 7587777 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., 6.50% due 6/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5630000 | &nbsp;&nbsp;&nbsp;&nbsp; 5826374 |
|  | &nbsp;&nbsp;&nbsp;**Technology Hardware, Storage & Peripherals — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co., 4.15% due 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9005670 |
|  | &nbsp;&nbsp;&nbsp;NetApp, Inc., 5.50% due 3/17/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 9933000 | &nbsp;&nbsp;&nbsp;&nbsp; 10333995 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 144357838 |
|  | &nbsp;&nbsp;**Telecommunication Services — 0.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Diversified Telecommunication Services — 0.1%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Sable International Finance Ltd., 7.125% due 10/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1521015 |
|  | &nbsp;&nbsp;&nbsp;Virgin Media Secured Finance plc, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.50% due 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6032650 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.50% due 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1773792 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;**Wireless Telecommunication Services — 0.5%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Crown Castle Towers LLC, 4.241% due 7/15/2048 | &nbsp;&nbsp;$2533000 | &nbsp;&nbsp;$2524724 |
|  | &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.25% due 2/15/2026 - 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 13747000 | &nbsp;&nbsp;&nbsp;&nbsp; 12432424 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.125% due 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 8935000 | &nbsp;&nbsp;&nbsp;&nbsp; 9192596 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri AS, 7.45% due 1/24/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 20850000 | &nbsp;&nbsp;&nbsp;&nbsp; 21886454 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Vmed O2 U.K. Financing I plc, 4.25% due 1/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 7818000 | &nbsp;&nbsp;&nbsp;&nbsp; 7133612 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 62497267 |
|  | &nbsp;&nbsp;**Transportation — 0.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Air Freight & Logistics — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Ryder System, Inc., 5.25% due 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6533000 | &nbsp;&nbsp;&nbsp;&nbsp; 6708411 |
|  | &nbsp;&nbsp;&nbsp;**Ground Transportation — 0.2%** |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;BNSF Funding Trust I, 6.613% (SOFR 3 Month + 2.35%) due 12/15/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 16580000 | &nbsp;&nbsp;&nbsp;&nbsp; 16590943 |
|  | &nbsp;&nbsp;&nbsp;**Passenger Airlines — 0.2%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Pegasus Hava Tasimaciligi AS, 8.00% due 9/11/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 24600000 | &nbsp;&nbsp;&nbsp;&nbsp; 25906998 |
|  | &nbsp;&nbsp;&nbsp;**Transportation Infrastructure — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP/PTL Finance Corp., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.35% due 3/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3060000 | &nbsp;&nbsp;&nbsp;&nbsp; 3147516 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.55% due 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6440000 | &nbsp;&nbsp;&nbsp;&nbsp; 6624377 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.75% due 5/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2480000 | &nbsp;&nbsp;&nbsp;&nbsp; 2491780 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.20% due 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2400000 | &nbsp;&nbsp;&nbsp;&nbsp; 2560368 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 64030393 |
|  | &nbsp;&nbsp;**Utilities — 5.9%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Electric Utilities — 4.8%** |  |  |
|  | &nbsp;&nbsp;&nbsp;AEP Texas, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.40% due 6/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 5106000 | &nbsp;&nbsp;&nbsp;&nbsp; 5267554 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series I, 2.10% due 7/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 2612000 | &nbsp;&nbsp;&nbsp;&nbsp; 2379375 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;AES Espana BV, 5.70% due 5/4/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 20027000 | &nbsp;&nbsp;&nbsp;&nbsp; 19785474 |
|  | &nbsp;&nbsp;&nbsp;Allegion U.S. Holding Co., Inc., 5.411% due 7/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 4659000 | &nbsp;&nbsp;&nbsp;&nbsp; 4849926 |
|  | &nbsp;&nbsp;&nbsp;Alliant Energy Finance LLC, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;1.40% due 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1489260 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.95% due 3/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 3415000 | &nbsp;&nbsp;&nbsp;&nbsp; 3568607 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co., 5.70% due 8/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 6776000 | &nbsp;&nbsp;&nbsp;&nbsp; 7128826 |
|  | &nbsp;&nbsp;&nbsp;Black Hills Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.50% due 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 927660 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.55% due 1/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4371000 | &nbsp;&nbsp;&nbsp;&nbsp; 4368989 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.15% due 5/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 6135000 | &nbsp;&nbsp;&nbsp;&nbsp; 6583591 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Boston Gas Co., 3.757% due 3/16/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6140000 | &nbsp;&nbsp;&nbsp;&nbsp; 5818632 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Cleco Power LLC, 5.30% due 1/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 9086000 | &nbsp;&nbsp;&nbsp;&nbsp; 9148603 |
|  | &nbsp;&nbsp;&nbsp;Comision Federal de Electricidad, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.348% due 2/9/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 16177000 | &nbsp;&nbsp;&nbsp;&nbsp; 14707967 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 9/29/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 5846800 | &nbsp;&nbsp;&nbsp;&nbsp; 5427000 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;6.45% due 1/24/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4104360 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.60% due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 6112000 | &nbsp;&nbsp;&nbsp;&nbsp; 6185405 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.375% due 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5194950 |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series C, 4.35% (5-Yr. CMT + 3.200%) due 1/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 22500000 | &nbsp;&nbsp;&nbsp;&nbsp; 22324500 |
|  | &nbsp;&nbsp;&nbsp;DTE Energy Co., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.875% due 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9605000 | &nbsp;&nbsp;&nbsp;&nbsp; 9770206 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.05% due 10/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 6155000 | &nbsp;&nbsp;&nbsp;&nbsp; 6153584 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.20% due 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 5700000 | &nbsp;&nbsp;&nbsp;&nbsp; 5884509 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp., 4.95% due 9/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 11334000 | &nbsp;&nbsp;&nbsp;&nbsp; 11245255 |
|  | &nbsp;&nbsp;&nbsp;Electricite de France SA, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.65% due 4/22/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 12614000 | &nbsp;&nbsp;&nbsp;&nbsp; 13116289 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.75% due 1/13/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 25825000 | &nbsp;&nbsp;&nbsp;&nbsp; 27077771 |
| **<sup>d,g</sup>** | &nbsp;&nbsp;&nbsp;Emera, Inc., Series 16-A, 6.75% (SOFR 3 Month + 5.44%) due 6/15/2076 | &nbsp;&nbsp;&nbsp;&nbsp; 13999000 | &nbsp;&nbsp;&nbsp;&nbsp; 14081874 |
|  | &nbsp;&nbsp;&nbsp;Enel Finance International NV, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.125% due 7/12/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 16900000 | &nbsp;&nbsp;&nbsp;&nbsp; 16069872 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.375% due 9/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3998000 | &nbsp;&nbsp;&nbsp;&nbsp; 3983047 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 6/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3819000 | &nbsp;&nbsp;&nbsp;&nbsp; 3889651 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.125% due 6/26/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 9739000 | &nbsp;&nbsp;&nbsp;&nbsp; 9990851 |
|  | &nbsp;&nbsp;&nbsp;Entergy Texas, Inc., |  |  |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1.50% due 9/1/2026 | &nbsp;&nbsp;$5866000 | &nbsp;&nbsp;$5764577 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;3.45% due 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2960400 |
|  | &nbsp;&nbsp;&nbsp;Evergy Kansas Central, Inc., 5.25% due 3/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 7843000 | &nbsp;&nbsp;&nbsp;&nbsp; 8009585 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro, Inc., 4.95% due 4/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 4663000 | &nbsp;&nbsp;&nbsp;&nbsp; 4742458 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Evergy Missouri West, Inc., 5.25% due 12/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 4812000 | &nbsp;&nbsp;&nbsp;&nbsp; 4835819 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.55% due 3/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 5332000 | &nbsp;&nbsp;&nbsp;&nbsp; 4821728 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.45% due 12/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3981000 | &nbsp;&nbsp;&nbsp;&nbsp; 3960657 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.125% due 5/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 4950000 | &nbsp;&nbsp;&nbsp;&nbsp; 4999797 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.45% due 3/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5181000 | &nbsp;&nbsp;&nbsp;&nbsp; 5311613 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;FirstEnergy Pennsylvania Electric Co., 5.15% due 3/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5230000 | &nbsp;&nbsp;&nbsp;&nbsp; 5240983 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Hawaiian Electric Co., Inc., 6.00% due 10/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 998000 | &nbsp;&nbsp;&nbsp;&nbsp; 1010695 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp., |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;2.95% due 5/14/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1742000 | &nbsp;&nbsp;&nbsp;&nbsp; 1644169 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.95% due 9/22/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4910000 | &nbsp;&nbsp;&nbsp;&nbsp; 4974125 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.40% due 6/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 13817000 | &nbsp;&nbsp;&nbsp;&nbsp; 14259973 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.65% due 5/9/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 21000000 | &nbsp;&nbsp;&nbsp;&nbsp; 21908250 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Kentucky Power Co., 7.00% due 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 17064000 | &nbsp;&nbsp;&nbsp;&nbsp; 18647198 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Mid-Atlantic Interstate Transmission LLC, 4.10% due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 945000 | &nbsp;&nbsp;&nbsp;&nbsp; 945747 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;New York State Electric & Gas Corp., 5.65% due 8/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 15570600 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Niagara Mohawk Power Corp., 4.278% due 12/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 7700000 | &nbsp;&nbsp;&nbsp;&nbsp; 7702772 |
|  | &nbsp;&nbsp;&nbsp;PPL Capital Funding, Inc., 5.25% due 9/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4098560 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;PSEG Power LLC, 5.20% due 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 9034000 | &nbsp;&nbsp;&nbsp;&nbsp; 9239885 |
|  | &nbsp;&nbsp;&nbsp;Public Service Co. of Oklahoma, 5.45% due 1/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6155940 |
|  | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc., 5.20% due 4/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 9543000 | &nbsp;&nbsp;&nbsp;&nbsp; 9813067 |
|  | &nbsp;&nbsp;&nbsp;Puget Energy, Inc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.10% due 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 6876000 | &nbsp;&nbsp;&nbsp;&nbsp; 6734079 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.224% due 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 8255000 | &nbsp;&nbsp;&nbsp;&nbsp; 7912913 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.725% due 3/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 6812000 | &nbsp;&nbsp;&nbsp;&nbsp; 6990134 |
|  | &nbsp;&nbsp;&nbsp;Southern Co., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;3.25% due 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6725000 | &nbsp;&nbsp;&nbsp;&nbsp; 6703614 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series B, 4.00% (5-Yr. CMT + 3.73%) due 1/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 22174000 | &nbsp;&nbsp;&nbsp;&nbsp; 22165796 |
|  | &nbsp;&nbsp;&nbsp;System Energy Resources, Inc., 6.00% due 4/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 2212000 | &nbsp;&nbsp;&nbsp;&nbsp; 2295193 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Toledo Edison Co., 2.65% due 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4425000 | &nbsp;&nbsp;&nbsp;&nbsp; 4216317 |
|  | &nbsp;&nbsp;&nbsp;Tucson Electric Power Co., 5.20% due 9/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 8325000 | &nbsp;&nbsp;&nbsp;&nbsp; 8519139 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric & Power Co., 5.05% due 8/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 5961000 | &nbsp;&nbsp;&nbsp;&nbsp; 6042070 |
|  | &nbsp;&nbsp;&nbsp;Xcel Energy, Inc., 5.45% due 8/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 3183000 | &nbsp;&nbsp;&nbsp;&nbsp; 3288325 |
|  | &nbsp;&nbsp;&nbsp;**Gas Utilities — 0.9%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;APA Infrastructure Ltd., 5.125% due 9/16/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 9210000 | &nbsp;&nbsp;&nbsp;&nbsp; 9264800 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Brooklyn Union Gas Co., 3.407% due 3/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 8931000 | &nbsp;&nbsp;&nbsp;&nbsp; 8920104 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp., 5.40% due 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 6427000 | &nbsp;&nbsp;&nbsp;&nbsp; 6631507 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;ENN Clean Energy International Investment Ltd., 3.375% due 5/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9524000 | &nbsp;&nbsp;&nbsp;&nbsp; 9481999 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;KeySpan Gas East Corp., 5.994% due 3/6/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 10857000 | &nbsp;&nbsp;&nbsp;&nbsp; 11471941 |
|  | &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co., Inc., 5.40% due 6/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 4945000 | &nbsp;&nbsp;&nbsp;&nbsp; 5141366 |
|  | &nbsp;&nbsp;&nbsp;Snam SpA, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 5/28/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4286268 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2 Class A2, 5.75% due 5/28/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 3907000 | &nbsp;&nbsp;&nbsp;&nbsp; 4085120 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp., 5.15% due 9/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 6950000 | &nbsp;&nbsp;&nbsp;&nbsp; 7139040 |
|  | &nbsp;&nbsp;&nbsp;Southwest Gas Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.20% due 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 7880000 | &nbsp;&nbsp;&nbsp;&nbsp; 7162369 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.05% due 3/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 3026000 | &nbsp;&nbsp;&nbsp;&nbsp; 2919545 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.80% due 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 4610000 | &nbsp;&nbsp;&nbsp;&nbsp; 4749222 |
|  | &nbsp;&nbsp;&nbsp;Spire, Inc., 5.30% due 3/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12927000 | &nbsp;&nbsp;&nbsp;&nbsp; 12946649 |
|  | &nbsp;&nbsp;&nbsp;**Multi-Utilities — 0.2%** |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Aegea Finance SARL, 9.00% due 1/20/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 18400000 | &nbsp;&nbsp;&nbsp;&nbsp; 19370600 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 605580296 |
|  | &nbsp;&nbsp;&nbsp;Total Corporate Bonds (Cost $4,203,082,210) |  | &nbsp;&nbsp;&nbsp;&nbsp; 4256561065 |
|  | **Convertible Bonds — 0.4%** |  |  |
|  | &nbsp;&nbsp;**Consumer Discretionary Distribution & Retail — 0.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Broadline Retail — 0.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Airbnb, Inc., Series 2025-1A Class D, Zero Coupon due 3/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1188768 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1188768 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;**Financial Services — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Financial Services — 0.2%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Repay Holdings Corp., Zero Coupon due 2/1/2026 | &nbsp;&nbsp;$22785000 | &nbsp;&nbsp;$22516137 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 22516137 |
|  | &nbsp;&nbsp;**Media & Entertainment — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Media — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Comcast Holdings Corp. (Guaranty: Comcast Corp.), 2.00% due 10/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 26001000 | &nbsp;&nbsp;&nbsp;&nbsp; 15958634 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15958634 |
|  | &nbsp;&nbsp;&nbsp;Total Convertible Bonds (Cost $40,745,072) |  | &nbsp;&nbsp;&nbsp;&nbsp; 39663539 |
|  | **Long-Term Municipal Bonds — 0.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;California (California Mtg Insurance) HFFA, 7.875% due 2/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 451360 |
|  | &nbsp;&nbsp;&nbsp;New York Transportation Development Corp. (Research Foundation of State University of New York), 4.248% due 9/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 1805000 | &nbsp;&nbsp;&nbsp;&nbsp; 1781607 |
|  | &nbsp;&nbsp;&nbsp;Total Long-Term Municipal Bonds (Cost $2,254,954) |  | &nbsp;&nbsp;&nbsp;&nbsp; 2232967 |
|  | **Other Government — 2.7%** |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Albania Government International Bonds (EUR), 5.90% due 6/9/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9800000 | &nbsp;&nbsp;&nbsp;&nbsp; 12192660 |
|  | &nbsp;&nbsp;&nbsp;Australia Government Bonds (AUD), Series 166, 3.00% due 11/21/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 36873000 | &nbsp;&nbsp;&nbsp;&nbsp; 22032793 |
|  | &nbsp;&nbsp;&nbsp;Brazil Notas do Tesouro Nacional (BRL), Series F, 10.00% due 1/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 98800000 | &nbsp;&nbsp;&nbsp;&nbsp; 16719374 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Corp. Financiera de Desarrollo SA, 5.95% due 4/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 8725000 | &nbsp;&nbsp;&nbsp;&nbsp; 9082638 |
|  | &nbsp;&nbsp;&nbsp;Dominican Republic International Bonds (DOP), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;9.75% due 6/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 315500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5020683 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;10.75% due 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 1009000000 | &nbsp;&nbsp;&nbsp;&nbsp; 17358288 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Eagle Funding Luxco SARL, 5.50% due 8/17/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 29325000 | &nbsp;&nbsp;&nbsp;&nbsp; 29864873 |
|  | &nbsp;&nbsp;&nbsp;Egypt Government Bonds (EGP), Series 3Y, 23.865% due 6/4/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 580450000 | &nbsp;&nbsp;&nbsp;&nbsp; 12291668 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Finance Department Government of Sharjah, 3.625% due 3/10/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 15632000 | &nbsp;&nbsp;&nbsp;&nbsp; 13873400 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Finance Department Government of Sharjah (EUR), 4.625% due 1/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 14450000 | &nbsp;&nbsp;&nbsp;&nbsp; 17166570 |
|  | &nbsp;&nbsp;&nbsp;Indonesia Treasury Bonds (IDR), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 101, 6.875% due 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;216734000000 | &nbsp;&nbsp;&nbsp;&nbsp; 13633771 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series FR82, 7.00% due 9/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 45000000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2847454 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Mexico Government International Bonds, 5.375% due 3/22/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 9750000 | &nbsp;&nbsp;&nbsp;&nbsp; 9659227 |
|  | &nbsp;&nbsp;&nbsp;New Zealand Government Bonds (NZD), 3.50% due 4/14/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 17550000 | &nbsp;&nbsp;&nbsp;&nbsp; 9678006 |
|  | &nbsp;&nbsp;&nbsp;Nigeria Government International Bonds, |  |  |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;7.625% due 11/28/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9436600 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;8.25% due 9/28/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 4300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4213828 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Panama Bonos del Tesoro, 3.362% due 6/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 12610000 | &nbsp;&nbsp;&nbsp;&nbsp; 11263504 |
| **<sup>g</sup>** | &nbsp;&nbsp;&nbsp;Panama Government International Bonds, 2.252% due 9/29/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 13300000 | &nbsp;&nbsp;&nbsp;&nbsp; 10982209 |
|  | &nbsp;&nbsp;&nbsp;Republic of Uzbekistan International Bonds (UZS), |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;15.50% due 2/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 92000000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8014414 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;16.25% due 10/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 15500000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1314686 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;16.625% due 5/29/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 95500000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8325188 |
| **<sup>e,g</sup>** | &nbsp;&nbsp;&nbsp;Saudi Government International Bonds, 5.125% due 1/13/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 18000000 | &nbsp;&nbsp;&nbsp;&nbsp; 18370980 |
|  | &nbsp;&nbsp;&nbsp;U.K. Gilts (GBP), 4.125% due 7/22/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 15218000 | &nbsp;&nbsp;&nbsp;&nbsp; 20701421 |
|  | &nbsp;&nbsp;&nbsp;Total Other Government (Cost $269,195,406) |  | &nbsp;&nbsp;&nbsp;&nbsp; 284044235 |
|  | **U.S. Treasury Securities — 11.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Bonds, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;0.125%, 2/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 57874528 | &nbsp;&nbsp;&nbsp;&nbsp; 31247724 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;0.25%, 2/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 60253885 | &nbsp;&nbsp;&nbsp;&nbsp; 34667166 |
|  | &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation-Indexed Notes, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;0.125%, 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 37963200 | &nbsp;&nbsp;&nbsp;&nbsp; 36020552 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 1/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 167719569 | &nbsp;&nbsp;&nbsp;&nbsp; 166828559 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.125%, 4/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 140411577 | &nbsp;&nbsp;&nbsp;&nbsp; 143439202 |
|  | &nbsp;&nbsp;&nbsp;U.S. Treasury Notes, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1.125%, 5/15/2040 - 8/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 264700000 | &nbsp;&nbsp;&nbsp;&nbsp; 167127734 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;1.375%, 11/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 207290000 | &nbsp;&nbsp;&nbsp;&nbsp; 134738500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 211000000 | &nbsp;&nbsp;&nbsp;&nbsp; 208131719 |
|  | &nbsp;&nbsp;&nbsp;U.S. Treasury Strip Coupon, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.007%, 11/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 25000000 | &nbsp;&nbsp;&nbsp;&nbsp; 11509313 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.233%, 5/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 110000000 | &nbsp;&nbsp;&nbsp;&nbsp; 66151601 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;6.351%, 11/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 50000000 | &nbsp;&nbsp;&nbsp;&nbsp; 30863660 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;7.105%, 8/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 80000000 | &nbsp;&nbsp;&nbsp;&nbsp; 39697797 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;7.357%, 8/15/2038 | &nbsp;&nbsp;$25000000 | &nbsp;&nbsp;$13999624 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;7.438%, 8/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 50000000 | &nbsp;&nbsp;&nbsp;&nbsp; 20718953 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;7.691%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp; 40000000 | &nbsp;&nbsp;&nbsp;&nbsp; 17352554 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;7.699%, 8/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 25000000 | &nbsp;&nbsp;&nbsp;&nbsp; 13171375 |
|  | &nbsp;&nbsp;&nbsp;Total U.S. Treasury Securities (Cost $1,128,969,298) |  | &nbsp;&nbsp;&nbsp;&nbsp; 1135666033 |
|  | **U.S. Government Agencies — 0.5%** |  |  |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;CoBank ACB, Series I, 6.25% (TSFR3M + 4.66%), 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 22624000 | &nbsp;&nbsp;&nbsp;&nbsp; 22714948 |
| **<sup>c,d</sup>** | &nbsp;&nbsp;&nbsp;Farm Credit Bank of Texas, Series 6, 7.00% (5-Yr. CMT + 3.01%), 9/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 9500000 | &nbsp;&nbsp;&nbsp;&nbsp; 9764955 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Banks, 2.90%, 2/18/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 22380000 | &nbsp;&nbsp;&nbsp;&nbsp; 18741460 |
|  | &nbsp;&nbsp;&nbsp;Total U.S. Government Agencies (Cost $50,535,846) |  | &nbsp;&nbsp;&nbsp;&nbsp; 51221363 |
|  | **Mortgage Backed — 27.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Ajax Mortgage Loan Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-C Class A, 6.115% due 1/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 3308985 | &nbsp;&nbsp;&nbsp;&nbsp; 3308878 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-G Class A, 4.875% due 6/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 2493018 | &nbsp;&nbsp;&nbsp;&nbsp; 2491716 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-A Class A1, 3.50% due 10/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 3207855 | &nbsp;&nbsp;&nbsp;&nbsp; 3134686 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-B Class A, 4.25% due 10/25/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 7835477 | &nbsp;&nbsp;&nbsp;&nbsp; 7771555 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-C Class A1, 3.50% due 5/25/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 8347118 | &nbsp;&nbsp;&nbsp;&nbsp; 8110010 |
|  | &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1 Class B1, 4.024% due 12/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 4575000 | &nbsp;&nbsp;&nbsp;&nbsp; 3514227 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-6 Class A3, 4.30% due 7/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 3555403 | &nbsp;&nbsp;&nbsp;&nbsp; 3582956 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1 Class A1, 4.75% due 9/26/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 11056906 | &nbsp;&nbsp;&nbsp;&nbsp; 11019735 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2 Class A1, 4.65% due 10/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 5430052 | &nbsp;&nbsp;&nbsp;&nbsp; 5407969 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;Arbor Realty Commercial Real Estate Notes Ltd., CMBS, Series 2022-FL1 Class A, 5.434% (SOFR30A + 1.45%) due 1/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 8078883 | &nbsp;&nbsp;&nbsp;&nbsp; 8078882 |
|  | &nbsp;&nbsp;&nbsp;Arroyo Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1 Class A1, 3.805% due 1/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 420294 | &nbsp;&nbsp;&nbsp;&nbsp; 411059 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3 Class A1, 2.962% due 10/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 882092 | &nbsp;&nbsp;&nbsp;&nbsp; 845112 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1R Class A1, 1.175% due 10/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 1807632 | &nbsp;&nbsp;&nbsp;&nbsp; 1615859 |
|  | &nbsp;&nbsp;&nbsp;ATLX Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL1 Class A1, 3.85% due 4/25/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 10947775 | &nbsp;&nbsp;&nbsp;&nbsp; 10724140 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL2 Class A1, 3.85% due 4/25/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 10583955 | &nbsp;&nbsp;&nbsp;&nbsp; 10234697 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Barclays Mortgage Loan Trust, Whole Loan Securities Trust CMO, Series 2022-INV1 Class A3, 4.53% due 2/25/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 11798837 | &nbsp;&nbsp;&nbsp;&nbsp; 11397619 |
|  | &nbsp;&nbsp;&nbsp;Barclays Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NPL1 Class A, 5.00% due 11/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 4679829 | &nbsp;&nbsp;&nbsp;&nbsp; 4679380 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-RPL1 Class A, 4.25% due 2/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 13592524 | &nbsp;&nbsp;&nbsp;&nbsp; 13575487 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;Bear Stearns ARM Trust, Whole Loan Securities Trust CMO, Series 2003-6 Class 2B1, 6.375% due 8/25/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 12214 | &nbsp;&nbsp;&nbsp;&nbsp; 12347 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;BPR Trust, CMBS, Series 2023-BRK2 Class A, 6.899% due 10/5/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 4250000 | &nbsp;&nbsp;&nbsp;&nbsp; 4436405 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;BRAVO Residential Funding Trust, Whole Loan Securities Trust CMO, Series 2024-NQM4 Class A1A, 4.35% due 1/25/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 24119909 | &nbsp;&nbsp;&nbsp;&nbsp; 23784746 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Bunker Hill Loan Depositary Trust, Whole Loan Securities Trust CMO, Series 2019-3 Class M1, 3.269% due 11/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 3420000 | &nbsp;&nbsp;&nbsp;&nbsp; 3375830 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;BX Trust, CMBS, Series 2025-LIFE Class A, 5.884% due 6/13/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 23150000 | &nbsp;&nbsp;&nbsp;&nbsp; 23481748 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;BXP Trust, CMBS, Series 2021-601L Class A, 2.618% due 1/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 6760000 | &nbsp;&nbsp;&nbsp;&nbsp; 5952922 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Century Plaza Towers, CMBS, Series 2019-CPT Class A, 2.865% due 11/13/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 5080000 | &nbsp;&nbsp;&nbsp;&nbsp; 4706380 |
|  | &nbsp;&nbsp;&nbsp;Chase Home Lending Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1 Class B4, 3.877% due 3/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 656076 | &nbsp;&nbsp;&nbsp;&nbsp; 574511 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1 Class B5, 3.877% due 3/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 338499 | &nbsp;&nbsp;&nbsp;&nbsp; 269505 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1 Class B6, 3.651% due 3/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 521093 | &nbsp;&nbsp;&nbsp;&nbsp; 351550 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Chase Mortgage Finance Corp., Whole Loan Securities Trust CMO, Series 2016-SH2 Class M4, 3.701% due 12/25/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 1868241 | &nbsp;&nbsp;&nbsp;&nbsp; 1738957 |
|  | &nbsp;&nbsp;&nbsp;CHNGE Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1 Class A1, 3.007% due 1/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 16842803 | &nbsp;&nbsp;&nbsp;&nbsp; 16283297 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1 Class B2, 4.554% due 1/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 4700000 | &nbsp;&nbsp;&nbsp;&nbsp; 3904900 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2 Class B2, 4.592% due 3/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 7015000 | &nbsp;&nbsp;&nbsp;&nbsp; 5256878 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1 Class A1, 7.065% due 3/25/2058 | &nbsp;&nbsp;&nbsp;&nbsp; 4874972 | &nbsp;&nbsp;&nbsp;&nbsp; 4867708 |
|  | &nbsp;&nbsp;&nbsp;CIM Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-INV1 Class A4, 4.00% due 8/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 123965 | &nbsp;&nbsp;&nbsp;&nbsp; 116157 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J1 Class AIO1, 0.435% due 10/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 11964556 | &nbsp;&nbsp;&nbsp;&nbsp; 258215 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J1 Class AIO2, 0.50% due 10/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 10671330 | &nbsp;&nbsp;&nbsp;&nbsp; 296498 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J1 Class AIOS, 0.20% due 10/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 14912642 | &nbsp;&nbsp;&nbsp;&nbsp; 161899 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J1 Class B4, 3.435% due 10/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 315529 | &nbsp;&nbsp;&nbsp;&nbsp; 270768 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J1 Class B5, 3.435% due 10/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 159506 | &nbsp;&nbsp;&nbsp;&nbsp; 99971 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J1 Class B6, 3.435% due 10/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 286799 | &nbsp;&nbsp;&nbsp;&nbsp; 143946 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J2 Class AX1, 0.252% due 1/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 94064085 | &nbsp;&nbsp;&nbsp;&nbsp; 1368407 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J2 Class AXS, 0.21% due 1/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 100583249 | &nbsp;&nbsp;&nbsp;&nbsp; 1220739 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J2 Class B4, 2.752% due 1/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 491000 | &nbsp;&nbsp;&nbsp;&nbsp; 225781 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J2 Class B5, 2.752% due 1/25/2051 | &nbsp;&nbsp;$164000 | &nbsp;&nbsp;$74622 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-J2 Class B6, 2.752% due 1/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 654523 | &nbsp;&nbsp;&nbsp;&nbsp; 280924 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-I1 Class M1, 7.049% due 4/25/2058 | &nbsp;&nbsp;&nbsp;&nbsp; 10705000 | &nbsp;&nbsp;&nbsp;&nbsp; 10709593 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-I2 Class A1, 6.639% due 12/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 9353885 | &nbsp;&nbsp;&nbsp;&nbsp; 9400411 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-R1 Class A1, 4.75% due 6/25/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 13198221 | &nbsp;&nbsp;&nbsp;&nbsp; 13170616 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Mortgage Loan Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2004-HYB2 Class B1, 6.194% due 3/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 16141 | &nbsp;&nbsp;&nbsp;&nbsp; 6602 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-A Class A, 4.00% due 1/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 252556 | &nbsp;&nbsp;&nbsp;&nbsp; 247599 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP1 Class B1, 4.467% due 5/25/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 1180900 | &nbsp;&nbsp;&nbsp;&nbsp; 1007474 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP1 Class B2, 4.467% due 5/25/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 770600 | &nbsp;&nbsp;&nbsp;&nbsp; 615360 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP1 Class B3, 4.467% due 5/25/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 386242 | &nbsp;&nbsp;&nbsp;&nbsp; 251696 |
| **<sup>e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP1 Class XS, due 5/25/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 16365137 | &nbsp;&nbsp;&nbsp;&nbsp; 526303 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP2 Class B5, 4.032% due 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 153000 | &nbsp;&nbsp;&nbsp;&nbsp; 93002 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP2 Class B6, 4.032% due 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 372000 | &nbsp;&nbsp;&nbsp;&nbsp; 201203 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J1 Class B4, 2.61% due 4/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 206960 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J1 Class B5, 2.61% due 4/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 666000 | &nbsp;&nbsp;&nbsp;&nbsp; 299020 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J1 Class B6, 2.61% due 4/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 503782 | &nbsp;&nbsp;&nbsp;&nbsp; 201115 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J2 Class A7A, 2.50% due 7/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 10257679 | &nbsp;&nbsp;&nbsp;&nbsp; 9249621 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J2 Class B4, 2.769% due 7/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 2281541 | &nbsp;&nbsp;&nbsp;&nbsp; 1044425 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J2 Class B5, 2.769% due 7/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 623000 | &nbsp;&nbsp;&nbsp;&nbsp; 281190 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J2 Class B6, 2.769% due 7/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1247350 | &nbsp;&nbsp;&nbsp;&nbsp; 512725 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J3 Class B4, 2.86% due 9/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1032000 | &nbsp;&nbsp;&nbsp;&nbsp; 570844 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J3 Class B5, 2.86% due 9/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 173000 | &nbsp;&nbsp;&nbsp;&nbsp; 84127 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-J3 Class B6, 2.86% due 9/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 573357 | &nbsp;&nbsp;&nbsp;&nbsp; 240749 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1 Class A5IX, 0.289% due 11/27/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 174592694 | &nbsp;&nbsp;&nbsp;&nbsp; 2779952 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1 Class B4, 3.289% due 11/27/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1260856 | &nbsp;&nbsp;&nbsp;&nbsp; 1049845 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1 Class B6, 3.289% due 11/27/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3178761 | &nbsp;&nbsp;&nbsp;&nbsp; 1537996 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-J1 Class B4, 2.903% due 2/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 700598 | &nbsp;&nbsp;&nbsp;&nbsp; 362378 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-J1 Class B5, 2.903% due 2/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 527000 | &nbsp;&nbsp;&nbsp;&nbsp; 258591 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-J1 Class B6, 2.903% due 2/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1404735 | &nbsp;&nbsp;&nbsp;&nbsp; 554313 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Cogent Ipv4 LLC, CMBS, Series 2024-1A Class A2, 7.924% due 5/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 4370000 | &nbsp;&nbsp;&nbsp;&nbsp; 4554061 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;COMM Mortgage Trust, CMBS, Series 2024-277P Class A, 6.338% due 8/10/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9472595 |
|  | &nbsp;&nbsp;&nbsp;Cross Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-H1 Class A1, 6.615% due 3/25/2068 | &nbsp;&nbsp;&nbsp;&nbsp; 4934326 | &nbsp;&nbsp;&nbsp;&nbsp; 4956818 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-H4 Class A1, 6.147% due 7/25/2069 | &nbsp;&nbsp;&nbsp;&nbsp; 8396653 | &nbsp;&nbsp;&nbsp;&nbsp; 8495503 |
|  | &nbsp;&nbsp;&nbsp;CSMC Trust, CMBS, |  |  |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-WEST Class A, 3.04% due 2/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 22257500 | &nbsp;&nbsp;&nbsp;&nbsp; 19001802 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-BPNY Class A, 7.58% (TSFR1M + 3.83%) due 8/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12573585 | &nbsp;&nbsp;&nbsp;&nbsp; 12213189 |
|  | &nbsp;&nbsp;&nbsp;CSMC Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-AFC1 Class B2, 5.215% due 7/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 2366448 | &nbsp;&nbsp;&nbsp;&nbsp; 2275811 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-AFC1 Class AIOS, 0.25% due 3/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 39475028 | &nbsp;&nbsp;&nbsp;&nbsp; 387120 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-AFC1 Class B3, 4.31% due 3/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 146228 | &nbsp;&nbsp;&nbsp;&nbsp; 101924 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-AFC1 Class XS, 3.211% due 3/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 39475028 | &nbsp;&nbsp;&nbsp;&nbsp; 6536670 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM3 Class A1, 1.015% due 4/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 1841195 | &nbsp;&nbsp;&nbsp;&nbsp; 1597318 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM3 Class B2, 4.128% due 4/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 2650000 | &nbsp;&nbsp;&nbsp;&nbsp; 2029036 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM8 Class B2, 4.239% due 10/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 3478650 | &nbsp;&nbsp;&nbsp;&nbsp; 3031642 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-RP11 Class A1, 2.25% due 10/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 12791812 | &nbsp;&nbsp;&nbsp;&nbsp; 10746440 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-ATH2 Class A1, 4.547% due 5/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 4265280 | &nbsp;&nbsp;&nbsp;&nbsp; 4250876 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM5 Class A3, 5.169% due 5/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 3049688 | &nbsp;&nbsp;&nbsp;&nbsp; 3039271 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;DC Office Trust, CMBS, Series 2019-MTC Class A, 2.965% due 9/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 10082000 | &nbsp;&nbsp;&nbsp;&nbsp; 9154705 |
|  | &nbsp;&nbsp;&nbsp;Deephaven Residential Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class B3, 6.423% due 5/25/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 4825000 | &nbsp;&nbsp;&nbsp;&nbsp; 4841212 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1 Class A1, 0.715% due 5/25/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 329645 | &nbsp;&nbsp;&nbsp;&nbsp; 313395 |
|  | &nbsp;&nbsp;&nbsp;Ellington Financial Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2 Class A1, 2.739% due 11/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 470430 | &nbsp;&nbsp;&nbsp;&nbsp; 458188 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1 Class B2, 3.864% due 1/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 6901000 | &nbsp;&nbsp;&nbsp;&nbsp; 4942592 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;FARM Mortgage Trust, Whole Loan Securities Trust CMO, Series 2024-1 Class A, 4.684% due 10/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 8602083 | &nbsp;&nbsp;&nbsp;&nbsp; 8370617 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg Corp., |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool 1L0322, 6.063% (H15T1Y + 2.07%) due 2/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 1848597 | &nbsp;&nbsp;&nbsp;&nbsp; 1912013 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool 760025, 3.698% (5-Yr. CMT + 1.310%) due 10/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 2928510 | &nbsp;&nbsp;&nbsp;&nbsp; 2901071 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool 841097, 3.657% (5-Yr. CMT + 1.300%) due 9/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 4011897 | &nbsp;&nbsp;&nbsp;&nbsp; 3964311 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool 841355, 1.897% (2.16% - SOFR30A) due 11/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 4326831 | &nbsp;&nbsp;&nbsp;&nbsp; 4134022 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool 841362, 1.701% (2.15% - SOFR30A) due 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 5294178 | &nbsp;&nbsp;&nbsp;&nbsp; 4976137 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool 841377, 1.943% (2.24% - SOFR30A) due 4/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 5652620 | &nbsp;&nbsp;&nbsp;&nbsp; 5322766 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool 841463, 2.16% (2.18% - SOFR30A) due 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 14625307 | &nbsp;&nbsp;&nbsp;&nbsp; 13323973 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool RE6097, 2.00% due 5/1/2051 | &nbsp;&nbsp;$11210377 | &nbsp;&nbsp;$8874524 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool WN1497, 4.75% due 1/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 8425000 | &nbsp;&nbsp;&nbsp;&nbsp; 8555264 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg Corp., CMO REMIC, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 5461 Class PA, 4.50% due 8/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 27116483 | &nbsp;&nbsp;&nbsp;&nbsp; 26832181 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 5462 Class P, 4.50% due 10/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 18370446 | &nbsp;&nbsp;&nbsp;&nbsp; 18207076 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 5469 Class QA, 4.50% due 11/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 21743141 | &nbsp;&nbsp;&nbsp;&nbsp; 21597878 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 5502 Class FH, 5.274% (SOFR30A + 1.40%) due 2/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 18280139 | &nbsp;&nbsp;&nbsp;&nbsp; 18410908 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 5552 Class PD, 5.00% due 9/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 20324338 | &nbsp;&nbsp;&nbsp;&nbsp; 20527095 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 5565 Class QA, 4.50% due 8/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 21878252 | &nbsp;&nbsp;&nbsp;&nbsp; 21711392 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 5607 Class KT, 4.25% due 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 35819115 | &nbsp;&nbsp;&nbsp;&nbsp; 35595198 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg Corp., Multifamily Structured Pass-Through Certificates, CMBS, |  |  |
| **<sup>d,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series KIR1 Class X, 0.998% due 3/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 30998042 | &nbsp;&nbsp;&nbsp;&nbsp; 1211 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series KJ46 Class A2, 4.796% due 10/25/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 10518000 | &nbsp;&nbsp;&nbsp;&nbsp; 10816516 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series KJ47 Class A2, 5.43% due 6/25/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 7257000 | &nbsp;&nbsp;&nbsp;&nbsp; 7577076 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series KJ48 Class A2, 5.028% due 10/25/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 18483000 | &nbsp;&nbsp;&nbsp;&nbsp; 19168824 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg Corp., Seasoned Credit Risk Transfer, Whole Loan Securities Trust CMO, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class MA, 2.00% due 11/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 2180419 | &nbsp;&nbsp;&nbsp;&nbsp; 1985936 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-3 Class MTU, 2.50% due 5/25/2060 | &nbsp;&nbsp;&nbsp;&nbsp; 26230669 | &nbsp;&nbsp;&nbsp;&nbsp; 21314818 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1 Class MTU, 3.25% due 11/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 19826223 | &nbsp;&nbsp;&nbsp;&nbsp; 17148738 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1 Class MT, 3.00% due 11/25/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 9326817 | &nbsp;&nbsp;&nbsp;&nbsp; 7801161 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2 Class MT, 3.50% due 5/25/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 13039687 | &nbsp;&nbsp;&nbsp;&nbsp; 11502021 |
|  | &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg Corp., UMBS Collateral, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool RA7373, 3.00% due 5/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2792964 | &nbsp;&nbsp;&nbsp;&nbsp; 2489510 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD1374, 3.00% due 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 7386454 | &nbsp;&nbsp;&nbsp;&nbsp; 6536170 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD1588, 5.00% due 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 4541589 | &nbsp;&nbsp;&nbsp;&nbsp; 4581771 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD1626, 5.00% due 10/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 6390788 | &nbsp;&nbsp;&nbsp;&nbsp; 6453657 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD3632, 2.50% due 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 34071262 | &nbsp;&nbsp;&nbsp;&nbsp; 28980085 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD4175, 2.50% due 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 38679429 | &nbsp;&nbsp;&nbsp;&nbsp; 32902666 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD4176, 3.00% due 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 103461272 | &nbsp;&nbsp;&nbsp;&nbsp; 91889361 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD5171, 2.50% due 1/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 31332796 | &nbsp;&nbsp;&nbsp;&nbsp; 26653251 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD6509, 6.00% due 8/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 23333224 | &nbsp;&nbsp;&nbsp;&nbsp; 24029453 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD8140, 2.00% due 4/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 31224167 | &nbsp;&nbsp;&nbsp;&nbsp; 25492869 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD8225, 3.00% due 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 14161080 | &nbsp;&nbsp;&nbsp;&nbsp; 12586160 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool SD8367, 5.50% due 10/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 13848777 | &nbsp;&nbsp;&nbsp;&nbsp; 14076057 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg Corp., Whole Loan Securities Trust CMO, Series 2017-SC01 Class M1, 3.653% due 12/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 124482 | &nbsp;&nbsp;&nbsp;&nbsp; 123131 |
|  | &nbsp;&nbsp;&nbsp;Federal National Mtg Assoc., |  |  |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool BH4523, 3.04% (5-Yr. CMT + 1.150%) due 4/1/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 4429145 | &nbsp;&nbsp;&nbsp;&nbsp; 4316939 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool BH4524, 3.712% (5-Yr. CMT + 1.150%) due 6/1/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 8238051 | &nbsp;&nbsp;&nbsp;&nbsp; 8007733 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool BL8603, 2.07% due 10/1/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 11169969 | &nbsp;&nbsp;&nbsp;&nbsp; 7959690 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool BM6885, 1.595% (2.20% - SOFR30A) due 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 6141413 | &nbsp;&nbsp;&nbsp;&nbsp; 5778428 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool BM6899, 2.50% due 1/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 9825979 | &nbsp;&nbsp;&nbsp;&nbsp; 8154147 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool BM6929, 1.929% (2.13% - SOFR30A) due 7/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 6282588 | &nbsp;&nbsp;&nbsp;&nbsp; 6030077 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool BO9998, 2.739% (H15T1Y + 2.03%) due 3/1/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 3344935 | &nbsp;&nbsp;&nbsp;&nbsp; 3362298 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool BS1289, 2.17% due 3/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 15667101 | &nbsp;&nbsp;&nbsp;&nbsp; 10870628 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool BU9934, 1.839% (2.37% - SOFR30A) due 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 13687904 | &nbsp;&nbsp;&nbsp;&nbsp; 12404952 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool BZ3061, 5.26% due 2/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 29454000 | &nbsp;&nbsp;&nbsp;&nbsp; 30402238 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Pool CB2214, 1.531% (2.20% - SOFR30A) due 11/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 6816175 | &nbsp;&nbsp;&nbsp;&nbsp; 6477445 |
|  | &nbsp;&nbsp;&nbsp;Federal National Mtg Assoc., CMO REMIC, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-25 Class VB, 5.50% due 3/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 13070775 | &nbsp;&nbsp;&nbsp;&nbsp; 13404396 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-70 Class MP, 4.50% due 10/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 20107396 | &nbsp;&nbsp;&nbsp;&nbsp; 19896810 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-90 Class PC, 4.00% due 10/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 28578811 | &nbsp;&nbsp;&nbsp;&nbsp; 27823396 |
|  | &nbsp;&nbsp;&nbsp;Federal National Mtg Assoc., UMBS Collateral, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool BV4119, 2.50% due 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 47480620 | &nbsp;&nbsp;&nbsp;&nbsp; 40385719 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool BW8669, 5.00% due 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 4316243 | &nbsp;&nbsp;&nbsp;&nbsp; 4320484 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool CB2301, 3.00% due 12/1/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 34942940 | &nbsp;&nbsp;&nbsp;&nbsp; 30920079 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool CB3050, 2.50% due 3/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 22801060 | &nbsp;&nbsp;&nbsp;&nbsp; 19395728 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool CB3880, 5.00% due 6/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2305138 | &nbsp;&nbsp;&nbsp;&nbsp; 2328952 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool FS6130, 2.50% due 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 25718837 | &nbsp;&nbsp;&nbsp;&nbsp; 21877735 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool FS6157, 3.00% due 9/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 113812710 | &nbsp;&nbsp;&nbsp;&nbsp; 101109494 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool FS7577, 2.50% due 1/1/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 26531503 | &nbsp;&nbsp;&nbsp;&nbsp; 22569030 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool FS7757, 2.50% due 2/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 25803588 | &nbsp;&nbsp;&nbsp;&nbsp; 21866393 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool FS7879, 2.50% due 7/1/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 19002047 | &nbsp;&nbsp;&nbsp;&nbsp; 16079898 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool MA5138, 5.50% due 9/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 7684475 | &nbsp;&nbsp;&nbsp;&nbsp; 7813012 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool MA5139, 6.00% due 9/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 6135346 | &nbsp;&nbsp;&nbsp;&nbsp; 6305421 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool MA5166, 6.00% due 10/1/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 11804485 | &nbsp;&nbsp;&nbsp;&nbsp; 12134663 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;First Republic Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1 Class A2IO, 1.242% due 4/25/2050 | &nbsp;&nbsp;$106807120 | &nbsp;&nbsp;$3030118 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1 Class B3, 2.882% due 4/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1382772 | &nbsp;&nbsp;&nbsp;&nbsp; 1273092 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1 Class B4, 2.882% due 4/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1325000 | &nbsp;&nbsp;&nbsp;&nbsp; 1197268 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1 Class B6, 2.882% due 4/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 755000 | &nbsp;&nbsp;&nbsp;&nbsp; 521438 |
|  | &nbsp;&nbsp;&nbsp;Flagstar Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1 Class 2A2, 3.00% due 3/25/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 128709 | &nbsp;&nbsp;&nbsp;&nbsp; 118720 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-3INV Class B4, 4.438% due 5/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 4658895 | &nbsp;&nbsp;&nbsp;&nbsp; 4348393 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2 Class B3, 3.999% due 12/25/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 3310744 | &nbsp;&nbsp;&nbsp;&nbsp; 3019082 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class AX1, 0.653% due 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 21237530 | &nbsp;&nbsp;&nbsp;&nbsp; 728855 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class AX2, 0.50% due 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 3639544 | &nbsp;&nbsp;&nbsp;&nbsp; 102260 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class B4, 3.653% due 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 192799 | &nbsp;&nbsp;&nbsp;&nbsp; 168624 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class B5, 3.653% due 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 575756 | &nbsp;&nbsp;&nbsp;&nbsp; 501013 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class B6C, 3.34% due 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 769566 | &nbsp;&nbsp;&nbsp;&nbsp; 450329 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13IN Class AX1, 0.173% due 12/30/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 147022479 | &nbsp;&nbsp;&nbsp;&nbsp; 1433146 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13IN Class AX17, 0.18% due 12/30/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 12154712 | &nbsp;&nbsp;&nbsp;&nbsp; 133084 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13IN Class AX4, 0.50% due 12/30/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 11116817 | &nbsp;&nbsp;&nbsp;&nbsp; 338112 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13IN Class B4, 3.353% due 12/30/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 2444040 | &nbsp;&nbsp;&nbsp;&nbsp; 2032948 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13IN Class B5, 3.353% due 12/30/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 445549 | &nbsp;&nbsp;&nbsp;&nbsp; 361957 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13IN Class B6C, 3.218% due 12/30/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3885758 | &nbsp;&nbsp;&nbsp;&nbsp; 2699921 |
|  | &nbsp;&nbsp;&nbsp;GCAT Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-NQM3 Class A1, 3.686% due 11/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 305980 | &nbsp;&nbsp;&nbsp;&nbsp; 298799 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CM1 Class A, 2.469% due 4/25/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 1901350 | &nbsp;&nbsp;&nbsp;&nbsp; 1834400 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CM2 Class A1, 2.352% due 8/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 13667589 | &nbsp;&nbsp;&nbsp;&nbsp; 13045307 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM1 Class M1, 2.316% due 1/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 6112000 | &nbsp;&nbsp;&nbsp;&nbsp; 4794947 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM4 Class A1, 1.093% due 8/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 3071788 | &nbsp;&nbsp;&nbsp;&nbsp; 2596879 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-NQM4 Class A1, 4.25% due 5/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 15935159 | &nbsp;&nbsp;&nbsp;&nbsp; 15274957 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Glebe Funding Trust, Whole Loan Securities Trust CMO, Series 2024-1 Class A, 8.099% due 11/29/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 25657833 | &nbsp;&nbsp;&nbsp;&nbsp; 25895170 |
|  | &nbsp;&nbsp;&nbsp;Government National Mtg Assoc., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool MA7368, 3.00% due 5/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 20333302 | &nbsp;&nbsp;&nbsp;&nbsp; 18314313 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool MA7706, 3.00% due 11/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 90264513 | &nbsp;&nbsp;&nbsp;&nbsp; 81259810 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Pool MA8098, 3.00% due 6/20/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 159900231 | &nbsp;&nbsp;&nbsp;&nbsp; 143904992 |
|  | &nbsp;&nbsp;&nbsp;Government National Mtg Assoc., CMO, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-27 Class ED, 1.00% due 2/20/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 8843205 | &nbsp;&nbsp;&nbsp;&nbsp; 6913523 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-118 Class S, 7.085% (21.45% - SOFR30A) due 7/20/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 17685644 | &nbsp;&nbsp;&nbsp;&nbsp; 18607239 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-139 Class DT, 5.00% due 3/20/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 23836292 | &nbsp;&nbsp;&nbsp;&nbsp; 23923768 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-177 Class PA, 4.50% due 10/20/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 30725941 | &nbsp;&nbsp;&nbsp;&nbsp; 30332429 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-69 Class GJ, 4.50% due 1/20/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 14434997 | &nbsp;&nbsp;&nbsp;&nbsp; 14282174 |
| **<sup>d,e,g</sup>** | &nbsp;&nbsp;&nbsp;Greystone Commercial Real Estate Notes Ltd., CMBS, Series 2021-FL3 Class A, 4.885% (TSFR1M + 1.13%) due 7/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 1105579 | &nbsp;&nbsp;&nbsp;&nbsp; 1104888 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Corp. Trust, Whole Loan Securities Trust CMO, Series 2023-CCM1 Class A1, 6.65% due 8/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 8073101 | &nbsp;&nbsp;&nbsp;&nbsp; 8058392 |
|  | &nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class A11X, 3.391% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 787738 | &nbsp;&nbsp;&nbsp;&nbsp; 127036 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class A12X, 2.906% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 9431985 | &nbsp;&nbsp;&nbsp;&nbsp; 1305649 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class AIOS, 0.189% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 52716161 | &nbsp;&nbsp;&nbsp;&nbsp; 592350 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class AX1, due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 34283954 | &nbsp;&nbsp;&nbsp;&nbsp; 343 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class AX2, 0.406% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1699856 | &nbsp;&nbsp;&nbsp;&nbsp; 36022 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class AX4, 0.92% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1829874 | &nbsp;&nbsp;&nbsp;&nbsp; 80092 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class B4, 3.827% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1169228 | &nbsp;&nbsp;&nbsp;&nbsp; 1030075 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class B5, 3.827% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1171996 | &nbsp;&nbsp;&nbsp;&nbsp; 1046318 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class B6, 3.827% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 2932234 | &nbsp;&nbsp;&nbsp;&nbsp; 2091157 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1 Class BX, 0.327% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 13340503 | &nbsp;&nbsp;&nbsp;&nbsp; 211327 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-PJ3 Class A11X, 3.50% due 10/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1996614 | &nbsp;&nbsp;&nbsp;&nbsp; 262571 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-PJ2 Class A4, 5.50% due 5/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 5916557 | &nbsp;&nbsp;&nbsp;&nbsp; 5969486 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL2 Class A1, 3.75% due 7/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 5446837 | &nbsp;&nbsp;&nbsp;&nbsp; 5344587 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL4 Class A1, 3.90% due 9/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 4840710 | &nbsp;&nbsp;&nbsp;&nbsp; 4763773 |
|  | &nbsp;&nbsp;&nbsp;Harvest Commercial Capital Loan Trust, CMBS, Series 2024-1 Class A, 6.164% due 10/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 17787138 | &nbsp;&nbsp;&nbsp;&nbsp; 18226779 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;HOMES Trust, Whole Loan Securities Trust CMO, Series 2024-NQM1 Class A1, 5.915% due 7/25/2069 | &nbsp;&nbsp;&nbsp;&nbsp; 7401116 | &nbsp;&nbsp;&nbsp;&nbsp; 7463259 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Homeward Opportunities Fund Trust, Whole Loan Securities Trust CMO, Series 2024-RTL1 Class A1, 7.12% due 7/25/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 22320000 | &nbsp;&nbsp;&nbsp;&nbsp; 22342351 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust, CMBS, Series 2019-55HY Class A, 2.943% due 12/10/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 5870000 | &nbsp;&nbsp;&nbsp;&nbsp; 5530955 |
|  | &nbsp;&nbsp;&nbsp;Imperial Fund Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM3 Class B2, 4.124% due 11/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 5408000 | &nbsp;&nbsp;&nbsp;&nbsp; 4097604 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM4 Class A1, 2.091% due 1/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 3343794 | &nbsp;&nbsp;&nbsp;&nbsp; 2936981 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM1 Class A1, 2.493% due 2/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 12533777 | &nbsp;&nbsp;&nbsp;&nbsp; 11600993 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM2 Class B2, 4.20% due 3/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 15600000 | &nbsp;&nbsp;&nbsp;&nbsp; 11792934 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM4 Class A1, 4.767% due 6/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 10226305 | &nbsp;&nbsp;&nbsp;&nbsp; 10192270 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM4 Class A3, 5.04% due 6/25/2067 | &nbsp;&nbsp;$3097511 | &nbsp;&nbsp;$3086507 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM6 Class A1, 6.819% due 10/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 10954856 | &nbsp;&nbsp;&nbsp;&nbsp; 10936377 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM7 Class A1, 7.369% due 11/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 7235568 | &nbsp;&nbsp;&nbsp;&nbsp; 7226545 |
|  | &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, CMBS, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-BHR5 Class A, 5.444% (TSFR1M + 1.69%) due 3/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 917240 | &nbsp;&nbsp;&nbsp;&nbsp; 918775 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-BHR5 Class B, 5.893% (TSFR1M + 2.14%) due 3/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 8240000 | &nbsp;&nbsp;&nbsp;&nbsp; 8249502 |
|  | &nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4 Class B4, 3.507% due 6/25/2045 | &nbsp;&nbsp;&nbsp;&nbsp; 830166 | &nbsp;&nbsp;&nbsp;&nbsp; 608356 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-5 Class B6, 4.746% due 10/26/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 3073715 | &nbsp;&nbsp;&nbsp;&nbsp; 2374094 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-8 Class B4, 4.136% due 3/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 3025503 | &nbsp;&nbsp;&nbsp;&nbsp; 2802975 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-3 Class AX1, 0.129% due 8/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 7421482 | &nbsp;&nbsp;&nbsp;&nbsp; 37452 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class A11X, 1.181% (5.14% - TSFR1M) due 11/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1476869 | &nbsp;&nbsp;&nbsp;&nbsp; 70260 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class A3X, 0.50% due 11/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 6695140 | &nbsp;&nbsp;&nbsp;&nbsp; 165079 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class AX1, 0.071% due 11/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 24729435 | &nbsp;&nbsp;&nbsp;&nbsp; 50260 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class AX3, 3.50% due 11/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 684160 | &nbsp;&nbsp;&nbsp;&nbsp; 120602 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class AX4, 0.55% due 11/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1579019 | &nbsp;&nbsp;&nbsp;&nbsp; 42749 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class B4, 3.621% due 11/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1198491 | &nbsp;&nbsp;&nbsp;&nbsp; 1050317 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class B5, 3.621% due 11/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 552685 | &nbsp;&nbsp;&nbsp;&nbsp; 434033 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4 Class B6, 3.621% due 11/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 1054996 | &nbsp;&nbsp;&nbsp;&nbsp; 563648 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-7 Class B4, 3.508% due 1/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 572379 | &nbsp;&nbsp;&nbsp;&nbsp; 498706 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-7 Class B5, 3.508% due 1/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 400404 | &nbsp;&nbsp;&nbsp;&nbsp; 241064 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-7 Class B6, 3.401% due 1/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 581120 | &nbsp;&nbsp;&nbsp;&nbsp; 301475 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-LTV1 Class B3A, 3.746% due 6/25/2050 | &nbsp;&nbsp;&nbsp;&nbsp; 2543735 | &nbsp;&nbsp;&nbsp;&nbsp; 2271616 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-11 Class B5, 3.016% due 1/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2203980 | &nbsp;&nbsp;&nbsp;&nbsp; 1726325 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-11 Class B6, 2.718% due 1/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2506435 | &nbsp;&nbsp;&nbsp;&nbsp; 1333980 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-LTV2 Class A1, 2.52% due 5/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 11300351 | &nbsp;&nbsp;&nbsp;&nbsp; 9606040 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022- LTV1 Class A1, 3.25% due 7/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 14467952 | &nbsp;&nbsp;&nbsp;&nbsp; 12925344 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2 Class B4, 3.122% due 8/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 3075263 | &nbsp;&nbsp;&nbsp;&nbsp; 2425044 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2 Class B5, 3.122% due 8/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1635700 | &nbsp;&nbsp;&nbsp;&nbsp; 1068268 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2 Class B6, 2.047% due 8/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1806360 | &nbsp;&nbsp;&nbsp;&nbsp; 763319 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3 Class B4, 3.095% due 8/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 2521731 | &nbsp;&nbsp;&nbsp;&nbsp; 1998905 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3 Class B5, 3.095% due 8/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1604406 | &nbsp;&nbsp;&nbsp;&nbsp; 797093 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3 Class B6, 2.007% due 8/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 1460644 | &nbsp;&nbsp;&nbsp;&nbsp; 616232 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DSC1 Class A1, 4.75% due 1/25/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 6851979 | &nbsp;&nbsp;&nbsp;&nbsp; 7032794 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1 Class A2, 5.50% due 6/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 5428261 | &nbsp;&nbsp;&nbsp;&nbsp; 5476822 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3 Class A4B, 5.50% due 10/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 5895393 | &nbsp;&nbsp;&nbsp;&nbsp; 5929536 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CCM1 Class A4, 5.50% due 6/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 20131251 | &nbsp;&nbsp;&nbsp;&nbsp; 20195108 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;JP Morgan Wealth Management, Whole Loan Securities Trust CMO, Series 2021-CL1 Class M1, 5.174% (SOFR30A + 1.30%) due 3/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 3547421 | &nbsp;&nbsp;&nbsp;&nbsp; 3529424 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;LEX Mortgage Trust, CMBS, Series 2024-BBG Class A, 4.874% due 10/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 5400000 | &nbsp;&nbsp;&nbsp;&nbsp; 5434592 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Manhattan West Mortgage Trust, CMBS, Series 2020-1MW Class A, 2.13% due 9/10/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 3698000 | &nbsp;&nbsp;&nbsp;&nbsp; 3559056 |
|  | &nbsp;&nbsp;&nbsp;Mello Mortgage Capital Acceptance, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV2 Class AX1, 0.109% due 8/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 87759006 | &nbsp;&nbsp;&nbsp;&nbsp; 370387 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV2 Class AX4, 0.70% due 8/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 6013090 | &nbsp;&nbsp;&nbsp;&nbsp; 249889 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV2 Class B5, 3.309% due 8/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 299673 | &nbsp;&nbsp;&nbsp;&nbsp; 238523 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV2 Class B6, 3.254% due 8/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1452648 | &nbsp;&nbsp;&nbsp;&nbsp; 812682 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV3 Class AX1, 0.15% due 10/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 106510642 | &nbsp;&nbsp;&nbsp;&nbsp; 697315 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV3 Class AX4, 0.55% due 10/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 8663704 | &nbsp;&nbsp;&nbsp;&nbsp; 240104 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV3 Class B5, 3.20% due 10/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 413595 | &nbsp;&nbsp;&nbsp;&nbsp; 327055 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV3 Class B6, 3.083% due 10/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1845842 | &nbsp;&nbsp;&nbsp;&nbsp; 1064071 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;Merrill Lynch Mortgage Investors Trust, Whole Loan Securities Trust CMO, Series 2004-A4 Class M1, 5.115% due 8/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 28869 | &nbsp;&nbsp;&nbsp;&nbsp; 27970 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Metlife Securitization Trust, Whole Loan Securities Trust CMO, Series 2019-1A Class A1A, 3.75% due 4/25/2058 | &nbsp;&nbsp;&nbsp;&nbsp; 195621 | &nbsp;&nbsp;&nbsp;&nbsp; 195002 |
|  | &nbsp;&nbsp;&nbsp;MFA Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-NQM2 Class A1, 1.381% due 4/25/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 3687450 | &nbsp;&nbsp;&nbsp;&nbsp; 3553710 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-NQM3 Class M1, 2.654% due 1/26/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 742164 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1 Class A1, 0.852% due 1/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 1224110 | &nbsp;&nbsp;&nbsp;&nbsp; 1174323 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV2 Class A1, 1.906% due 11/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 6363974 | &nbsp;&nbsp;&nbsp;&nbsp; 5770177 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-CHM1 Class A1, 4.875% due 9/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 5978005 | &nbsp;&nbsp;&nbsp;&nbsp; 5945829 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1 Class A3, 4.25% due 4/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 4950000 | &nbsp;&nbsp;&nbsp;&nbsp; 4800417 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM2 Class A1, 4.00% due 5/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 24079820 | &nbsp;&nbsp;&nbsp;&nbsp; 24607680 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM3 Class A1, 5.57% due 9/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 5706920 | &nbsp;&nbsp;&nbsp;&nbsp; 5691594 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NPL1 Class A1, 6.33% due 9/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 15896606 | &nbsp;&nbsp;&nbsp;&nbsp; 15918851 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL1 Class A1, 4.25% due 2/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 11852771 | &nbsp;&nbsp;&nbsp;&nbsp; 11421932 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Mill City Mortgage Loan Trust, Whole Loan Securities Trust CMO, Series 2023-NQM1 Class A1, 6.05% due 10/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 13816936 | &nbsp;&nbsp;&nbsp;&nbsp; 13783565 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Mill City Securities Ltd., Whole Loan Securities Trust CMO, Series 2024-RS1 Class A1, 3.00% due 11/1/2069 | &nbsp;&nbsp;&nbsp;&nbsp; 8880631 | &nbsp;&nbsp;&nbsp;&nbsp; 8520459 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust, CMBS, Series 2024-BPR2 Class A, 7.291% due 5/5/2029 | &nbsp;&nbsp;$14351365 | &nbsp;&nbsp;$15173646 |
|  | &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mortgage Loan Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM1 Class A1, 6.152% due 12/25/2068 | &nbsp;&nbsp;&nbsp;&nbsp; 10891314 | &nbsp;&nbsp;&nbsp;&nbsp; 10977890 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL1 Class A1, 4.00% due 6/25/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 19712842 | &nbsp;&nbsp;&nbsp;&nbsp; 19477566 |
|  | &nbsp;&nbsp;&nbsp;New Residential Mortgage Loan Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-3A Class A1, 4.00% due 4/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 608069 | &nbsp;&nbsp;&nbsp;&nbsp; 596195 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-4A Class A1, 4.00% due 5/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 514674 | &nbsp;&nbsp;&nbsp;&nbsp; 501271 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-5A Class A1, 5.346% (TSFR1M + 1.61%) due 6/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 271237 | &nbsp;&nbsp;&nbsp;&nbsp; 274502 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-6A Class A1, 4.00% due 8/27/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 267995 | &nbsp;&nbsp;&nbsp;&nbsp; 261942 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1A Class A1A, 4.00% due 12/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 509323 | &nbsp;&nbsp;&nbsp;&nbsp; 496522 |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1 Class AX1, 0.743% due 6/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 88606803 | &nbsp;&nbsp;&nbsp;&nbsp; 3577748 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1 Class B5, 3.243% due 6/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1116655 | &nbsp;&nbsp;&nbsp;&nbsp; 922330 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1 Class B6, 3.227% due 6/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1967139 | &nbsp;&nbsp;&nbsp;&nbsp; 1285566 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM3 Class A1, 3.90% due 4/25/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 14944509 | &nbsp;&nbsp;&nbsp;&nbsp; 14194542 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL1 Class A, 3.80% due 1/25/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 13304032 | &nbsp;&nbsp;&nbsp;&nbsp; 12659911 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RTL1 Class A1, 6.664% due 3/25/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 11875000 | &nbsp;&nbsp;&nbsp;&nbsp; 11930019 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;NRM FHT1 Excess Owner LLC, Whole Loan Securities Trust CMO, Series 2025-FHT1 Class A, 6.545% due 3/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7658941 | &nbsp;&nbsp;&nbsp;&nbsp; 7735729 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;NYC Commercial Mortgage Trust, CMBS, Series 2021-909 Class A, 2.941% due 4/10/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 4450000 | &nbsp;&nbsp;&nbsp;&nbsp; 3866532 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;NYMT Loan Trust, Whole Loan Securities Trust CMO, Series 2024-BPL2 Class A1, 6.509% due 5/25/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 11000000 | &nbsp;&nbsp;&nbsp;&nbsp; 11098871 |
|  | &nbsp;&nbsp;&nbsp;OBX Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM2 Class A1, 1.101% due 5/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 4919382 | &nbsp;&nbsp;&nbsp;&nbsp; 4095103 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM4 Class A1, 1.957% due 10/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 12950408 | &nbsp;&nbsp;&nbsp;&nbsp; 11194757 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM11 Class A1, 5.875% due 6/25/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 9112617 | &nbsp;&nbsp;&nbsp;&nbsp; 9204259 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;One Bryant Park Trust, CMBS, Series 2019-OBP Class A, 2.516% due 9/15/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 26914348 | &nbsp;&nbsp;&nbsp;&nbsp; 24984789 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;OSAT Trust, Whole Loan Securities Trust CMO, Series 2021-RPL1 Class A1, 6.116% due 5/25/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 17613476 | &nbsp;&nbsp;&nbsp;&nbsp; 17613476 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;PRET LLC, Whole Loan Securities Trust CMO, Series 2025-NPL3 Class A1, 6.708% due 4/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 24609611 | &nbsp;&nbsp;&nbsp;&nbsp; 24756774 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;PRET Trust, Whole Loan Securities Trust CMO, Series 2024-RPL1 Class A1, 3.90% due 10/25/2063 | &nbsp;&nbsp;&nbsp;&nbsp; 4514718 | &nbsp;&nbsp;&nbsp;&nbsp; 4376715 |
|  | &nbsp;&nbsp;&nbsp;PRKCM Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-AFC1 Class A1, 1.51% due 8/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 3498575 | &nbsp;&nbsp;&nbsp;&nbsp; 3010553 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-AFC1 Class B2, 3.95% due 8/25/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 2729000 | &nbsp;&nbsp;&nbsp;&nbsp; 1907055 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HOME1 Class A1, 6.431% due 5/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 4616918 | &nbsp;&nbsp;&nbsp;&nbsp; 4676091 |
|  | &nbsp;&nbsp;&nbsp;PRPM LLC, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL2 Class A1, 3.50% due 5/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 7961016 | &nbsp;&nbsp;&nbsp;&nbsp; 7873161 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1 Class A1, 5.993% due 4/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 20695844 | &nbsp;&nbsp;&nbsp;&nbsp; 20690308 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL3 Class A1, 3.25% due 4/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 13525601 | &nbsp;&nbsp;&nbsp;&nbsp; 13108562 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL4 Class A1, 3.00% due 5/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 16818439 | &nbsp;&nbsp;&nbsp;&nbsp; 15992596 |
|  | &nbsp;&nbsp;&nbsp;PRPM Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1 Class A1, 4.40% due 4/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 24031447 | &nbsp;&nbsp;&nbsp;&nbsp; 24066563 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1 Class A3, 4.412% due 4/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 7135382 | &nbsp;&nbsp;&nbsp;&nbsp; 6993608 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM1 Class A1, 5.50% due 8/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 6932890 | &nbsp;&nbsp;&nbsp;&nbsp; 6913919 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Radian Mortgage Capital Trust, Whole Loan Securities Trust CMO, Series 2024-J2 Class A16, 5.50% due 3/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 7830740 | &nbsp;&nbsp;&nbsp;&nbsp; 7846319 |
|  | &nbsp;&nbsp;&nbsp;Rate Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-J1 Class A9, 2.50% due 1/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 10777237 | &nbsp;&nbsp;&nbsp;&nbsp; 9625390 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-J4 Class A5, 5.50% due 12/25/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 20995766 | &nbsp;&nbsp;&nbsp;&nbsp; 21106722 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;RFT Trust, Whole Loan Securities Trust CMO, Series RR1 Class A1, 6.767% due 6/27/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 14185458 | &nbsp;&nbsp;&nbsp;&nbsp; 14209502 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;ROCK Trust, CMBS, Series 2024-CNTR Class A, 5.388% due 11/13/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 11400000 | &nbsp;&nbsp;&nbsp;&nbsp; 11715626 |
|  | &nbsp;&nbsp;&nbsp;Seasoned Loans Structured Transaction Trust, Whole Loan Securities Trust CMO, Series 2020-2 Class A1C, 2.00% due 9/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 4608485 | &nbsp;&nbsp;&nbsp;&nbsp; 4294446 |
|  | &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4 Class B4, 3.09% due 11/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 1686000 | &nbsp;&nbsp;&nbsp;&nbsp; 1588171 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-3 Class B3, 3.603% due 11/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 1973325 | &nbsp;&nbsp;&nbsp;&nbsp; 1474131 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-7 Class B3, 3.724% due 10/25/2047 | &nbsp;&nbsp;&nbsp;&nbsp; 1158296 | &nbsp;&nbsp;&nbsp;&nbsp; 1047366 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-7 Class B4, 4.251% due 9/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 1802000 | &nbsp;&nbsp;&nbsp;&nbsp; 1451147 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-9 Class A1, 2.50% due 1/25/2052 | &nbsp;&nbsp;&nbsp;&nbsp; 11847235 | &nbsp;&nbsp;&nbsp;&nbsp; 9936559 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3 Class A1, 6.00% due 9/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 5933081 | &nbsp;&nbsp;&nbsp;&nbsp; 6034080 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;SFO Commercial Mortgage Trust, CMBS, Series 2021-555 Class A, 5.015% (TSFR1M + 1.26%) due 5/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 14442000 | &nbsp;&nbsp;&nbsp;&nbsp; 14335805 |
|  | &nbsp;&nbsp;&nbsp;SG Residential Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3 Class AIOS, 0.375% due 9/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 10029814 | &nbsp;&nbsp;&nbsp;&nbsp; 124938 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3 Class B2, 5.663% due 9/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 1978000 | &nbsp;&nbsp;&nbsp;&nbsp; 1940908 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3 Class B3, 6.344% due 9/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 842000 | &nbsp;&nbsp;&nbsp;&nbsp; 731272 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3 Class XS1, due 9/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 9855705 | &nbsp;&nbsp;&nbsp;&nbsp; 99 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3 Class XS2, due 9/25/2059 | &nbsp;&nbsp;&nbsp;&nbsp; 9362825 | &nbsp;&nbsp;&nbsp;&nbsp; 517861 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class A3, 1.895% due 5/25/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 729600 | &nbsp;&nbsp;&nbsp;&nbsp; 684548 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2 Class A1, 1.737% due 12/25/2061 | &nbsp;&nbsp;&nbsp;&nbsp; 5244291 | &nbsp;&nbsp;&nbsp;&nbsp; 4595709 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1 Class B2, 3.963% due 3/27/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 4204000 | &nbsp;&nbsp;&nbsp;&nbsp; 3024830 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Shellpoint Co-Originator Trust, Whole Loan Securities Trust CMO, Series 2016-1 Class B4, 3.524% due 11/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp; 2091685 | &nbsp;&nbsp;&nbsp;&nbsp; 1626154 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;SKY Trust, CMBS, Series 2025-LINE Class A, 6.339% (TSFR1M + 2.59%) due 4/15/2042 | &nbsp;&nbsp;$8176467 | &nbsp;&nbsp;$8217623 |
| **<sup>e</sup>** | &nbsp;&nbsp;&nbsp;SLG Office Trust, CMBS, Series 2021-OVA Class A, 2.585% due 7/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp; 18658000 | &nbsp;&nbsp;&nbsp;&nbsp; 16644304 |
|  | &nbsp;&nbsp;&nbsp;Spruce Hill Mortgage Loan Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-SH2 Class B1, 5.00% due 6/25/2055 | &nbsp;&nbsp;&nbsp;&nbsp; 2561838 | &nbsp;&nbsp;&nbsp;&nbsp; 2560116 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-SH1 Class A1A, 4.10% due 7/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 4623667 | &nbsp;&nbsp;&nbsp;&nbsp; 4771801 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Starwood Mortgage Residential Trust, Whole Loan Securities Trust CMO, Series 2021-5 Class A1, 1.92% due 9/25/2066 | &nbsp;&nbsp;&nbsp;&nbsp; 12445973 | &nbsp;&nbsp;&nbsp;&nbsp; 10530818 |
|  | &nbsp;&nbsp;&nbsp;TIAA Bank Mortgage Loan Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2 Class B3, 3.657% due 7/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 2195676 | &nbsp;&nbsp;&nbsp;&nbsp; 2031379 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2 Class B4, 3.657% due 7/25/2048 | &nbsp;&nbsp;&nbsp;&nbsp; 2040000 | &nbsp;&nbsp;&nbsp;&nbsp; 1405614 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Toorak Mortgage Trust, Whole Loan Securities Trust CMO, Series 2024-RRTL1 Class A1, 6.597% due 2/25/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 11200000 | &nbsp;&nbsp;&nbsp;&nbsp; 11242831 |
|  | &nbsp;&nbsp;&nbsp;Towd Point Mortgage Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2 Class A1, 3.25% due 3/25/2058 | &nbsp;&nbsp;&nbsp;&nbsp; 441055 | &nbsp;&nbsp;&nbsp;&nbsp; 436577 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-R1 Class A1, 4.00% due 11/27/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 17654781 | &nbsp;&nbsp;&nbsp;&nbsp; 15859429 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-R2 Class A1, 4.50% due 9/25/2064 | &nbsp;&nbsp;&nbsp;&nbsp; 14865979 | &nbsp;&nbsp;&nbsp;&nbsp; 13641015 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;TRK Trust, Whole Loan Securities Trust CMO, Series 2022-INV2 Class A1, 4.35% due 6/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 8689853 | &nbsp;&nbsp;&nbsp;&nbsp; 8610191 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Whole Loan Securities Trust CMO, Series 2023-1 Class A1, 5.85% due 12/25/2067 | &nbsp;&nbsp;&nbsp;&nbsp; 3504193 | &nbsp;&nbsp;&nbsp;&nbsp; 3498182 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Visio Trust, Whole Loan Securities Trust CMO, Series 2022-1 Class M1, 5.919% due 8/25/2057 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9971376 |
|  | &nbsp;&nbsp;&nbsp;Vista Point Securitization Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1 Class A3, 3.201% due 3/25/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 1753436 | &nbsp;&nbsp;&nbsp;&nbsp; 1740914 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2 Class A2, 1.986% due 4/25/2065 | &nbsp;&nbsp;&nbsp;&nbsp; 502115 | &nbsp;&nbsp;&nbsp;&nbsp; 487921 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;VOLT C LLC, Whole Loan Securities Trust CMO, Series 2021-NPL9 Class A1, 5.992% due 5/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 5650821 | &nbsp;&nbsp;&nbsp;&nbsp; 5650145 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;WB Commercial Mortgage Trust, CMBS, Series 2024-HQ Class A, 5.937% due 3/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 4050000 | &nbsp;&nbsp;&nbsp;&nbsp; 4046635 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, CMBS, Series 2018-1745 Class A, 3.749% due 6/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3756187 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo Mortgage Backed Securities Trust, Whole Loan Securities Trust CMO, |  |  |
| **<sup>d,e,h</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1 Class AIO2, 0.50% due 8/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 77399131 | &nbsp;&nbsp;&nbsp;&nbsp; 2268491 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1 Class B4, 3.304% due 8/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1564571 | &nbsp;&nbsp;&nbsp;&nbsp; 1303801 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1 Class B5, 3.304% due 8/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 1255486 | &nbsp;&nbsp;&nbsp;&nbsp; 1008851 |
| **<sup>d,e</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-INV1 Class B6, 3.304% due 8/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp; 965397 | &nbsp;&nbsp;&nbsp;&nbsp; 481186 |
|  | &nbsp;&nbsp;&nbsp;Total Mortgage Backed (Cost $2,768,836,536) |  | &nbsp;&nbsp;&nbsp;&nbsp; 2799739382 |
|  | **Loan Participations — 2.1%** |  |  |
|  | &nbsp;&nbsp;**Capital Goods — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Aerospace & Defense — 0.2%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Dynasty Acquisition Co., Inc., 5.716% (SOFR + 2.00%) due 10/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 19793598 | &nbsp;&nbsp;&nbsp;&nbsp; 19858917 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 19858917 |
|  | &nbsp;&nbsp;**Commercial & Professional Services — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Commercial Services & Supplies — 0.2%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Imagefirst Holdings LLC, 6.733% (SOFR + 3.00%) due 3/12/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 19850250 | &nbsp;&nbsp;&nbsp;&nbsp; 19837943 |
|  | &nbsp;&nbsp;&nbsp;**Professional Services — 0.0%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;CACI International, Inc., 5.466% (SOFR + 1.75%) due 10/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3465000 | &nbsp;&nbsp;&nbsp;&nbsp; 3465728 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 23303671 |
|  | &nbsp;&nbsp;**Commercial Services — 0.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Information Technology Services — 0.2%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Boost Newco Borrower LLC, 5.672% (SOFR + 2.00%) due 1/31/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 17758306 | &nbsp;&nbsp;&nbsp;&nbsp; 17769494 |
|  | &nbsp;&nbsp;&nbsp;**Specialty Retail — 0.1%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Belron Finance 2019 LLC, 6.12% (SOFR + 2.25%) due 10/16/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 17584494 | &nbsp;&nbsp;&nbsp;&nbsp; 17672416 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 35441910 |
|  | &nbsp;&nbsp;**Consumer Durables & Apparel — 0.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods — 0.3%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;ABG Intermediate Holdings 2 LLC, 5.966% (SOFR + 2.25%) due 12/21/2028 - 2/13/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 19542148 | &nbsp;&nbsp;&nbsp;&nbsp; 19545081 |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Champ Acquisition Corp., 7.716% (SOFR + 4.00%) due 11/25/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 6855661 | &nbsp;&nbsp;&nbsp;&nbsp; 6881369 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 26426450 |
|  | &nbsp;&nbsp;**Consumer Services — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure — 0.2%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Aramark Services, Inc., 5.471% (SOFR + 1.75%) due 6/22/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 11168531 | &nbsp;&nbsp;&nbsp;&nbsp; 11191985 |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;TKC Holdings, Inc., 8.716% (SOFR + 5.00%) due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 4342089 | &nbsp;&nbsp;&nbsp;&nbsp; 4352944 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15544929 |
|  | &nbsp;&nbsp;**Equity Real Estate Investment Trusts (REITs) — 0.1%** |  |  |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;**Diversified REITs — 0.1%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Iron Mountain, Inc., 5.716% (SOFR + 2.00%) due 1/31/2031 | &nbsp;&nbsp;$4962025 | &nbsp;&nbsp;$4955823 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4955823 |
|  | &nbsp;&nbsp;**Financial Services — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Capital Markets — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Corpay Technologies Operating Co. LLC, |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.466% (SOFR + 1.75%), due 4/28/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 9900000 | &nbsp;&nbsp;&nbsp;&nbsp; 9905346 |
| **<sup>i,j</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.566% (SOFR + 1.75%), due 11/5/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10002100 |
| **<sup>g,i</sup>** | &nbsp;&nbsp;&nbsp;IMC Financing LLC, 7.234% (SOFR + 3.50%) due 6/18/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 995000 | &nbsp;&nbsp;&nbsp;&nbsp; 1001846 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20909292 |
|  | &nbsp;&nbsp;**Food, Beverage & Tobacco — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Beverages — 0.1%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Celsius Holdings, Inc., 6.172% (SOFR + 2.50%) due 4/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 9310000 | &nbsp;&nbsp;&nbsp;&nbsp; 9361205 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9361205 |
|  | &nbsp;&nbsp;**Health Care Equipment & Services — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Health Care Providers & Services — 0.1%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Select Medical Corp., 5.716% (SOFR + 2.00%) due 12/3/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 13069737 | &nbsp;&nbsp;&nbsp;&nbsp; 13037062 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13037062 |
|  | &nbsp;&nbsp;**Household & Personal Products — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Household Products — 0.1%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Energizer Holdings, Inc., 5.734% (SOFR + 2.00%) due 3/19/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 7345378 | &nbsp;&nbsp;&nbsp;&nbsp; 7339281 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7339281 |
|  | &nbsp;&nbsp;**Industrials — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Construction & Engineering — 0.1%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Green Infrastructure Partners, Inc., 6.422% (SOFR + 2.75%) due 9/24/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 9930000 | &nbsp;&nbsp;&nbsp;&nbsp; 9930000 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9930000 |
|  | &nbsp;&nbsp;**Materials — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Chemicals — 0.1%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;TPC Group, Inc., 9.386% (SOFR + 5.75%) due 12/16/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 12902500 | &nbsp;&nbsp;&nbsp;&nbsp; 11504772 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11504772 |
|  | &nbsp;&nbsp;**Media & Entertainment — 0.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Media — 0.0%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Century De Buyer LLC, 6.84% (SOFR + 3.00%) due 10/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 3456425 | &nbsp;&nbsp;&nbsp;&nbsp; 3446712 |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;DirecTV Financing LLC, 9.102% (SOFR + 5.00%) due 8/2/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 408415 | &nbsp;&nbsp;&nbsp;&nbsp; 408530 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3855242 |
|  | &nbsp;&nbsp;**Pharmaceuticals, Biotechnology & Life Sciences — 0.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Pharmaceuticals — 0.0%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Elanco Animal Health, Inc., 5.623% (SOFR + 1.75%) due 10/31/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1501560 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1501560 |
|  | &nbsp;&nbsp;**Software & Services — 0.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Information Technology Services — 0.0%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Shift4 Payments LLC, 6.172% (SOFR + 2.50%) due 6/30/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 249375 | &nbsp;&nbsp;&nbsp;&nbsp; 250674 |
|  | &nbsp;&nbsp;&nbsp;**Software — 0.0%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;SS&C Technologies, Inc., 5.716% (SOFR + 2.00%) due 5/9/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 3806852 | &nbsp;&nbsp;&nbsp;&nbsp; 3827600 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4078274 |
|  | &nbsp;&nbsp;**Technology Hardware & Equipment — 0.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;**Communications Equipment — 0.0%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;GoTo Group, Inc., 8.794% (SOFR + 4.75%) due 4/28/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 5011371 | &nbsp;&nbsp;&nbsp;&nbsp; 2983830 |
|  | &nbsp;&nbsp;&nbsp;**Technology Hardware, Storage & Peripherals — 0.1%** |  |  |
| **<sup>i</sup>** | &nbsp;&nbsp;&nbsp;Xerox Holdings Corp., 7.672% - 7.73% (SOFR + 4.00%) due 11/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 8671321 | &nbsp;&nbsp;&nbsp;&nbsp; 7392300 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10376130 |
|  | &nbsp;&nbsp;&nbsp;Total Loan Participations (Cost $221,457,251) |  | &nbsp;&nbsp;&nbsp;&nbsp; 217424518 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Issuer-Description** | &nbsp;&nbsp;**SHARES/<br> PRINCIPAL AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | **Short-Term Investments — 5.2%** |  |  |
| **<sup>k</sup>** | &nbsp;&nbsp;&nbsp;Thornburg Capital Management Fund | &nbsp;&nbsp; 53546811 | &nbsp;&nbsp;$535468104 |
|  | &nbsp;&nbsp;&nbsp;Total Short-Term Investments (Cost $535,468,104) |  | &nbsp;&nbsp;&nbsp;&nbsp; 535468104 |
|  | **Total Investments — 99.7% (Cost $10,232,114,992)** |  | &nbsp;&nbsp;$10327244190 |
|  | **Other Assets Less Liabilities — 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30999392 |
|  | **Net Assets — 100.0%** |  | &nbsp;&nbsp;$10358243582 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Outstanding Forward Currency Contracts To Buy Or Sell At December 31, 2025** | **Outstanding Forward Currency Contracts To Buy Or Sell At December 31, 2025** | **Outstanding Forward Currency Contracts To Buy Or Sell At December 31, 2025** | **Outstanding Forward Currency Contracts To Buy Or Sell At December 31, 2025** | **Outstanding Forward Currency Contracts To Buy Or Sell At December 31, 2025** | **Outstanding Forward Currency Contracts To Buy Or Sell At December 31, 2025** | **Outstanding Forward Currency Contracts To Buy Or Sell At December 31, 2025** | **Outstanding Forward Currency Contracts To Buy Or Sell At December 31, 2025** |
| **Contract<br> Description** | **Contract<br> Party\*** | &nbsp;&nbsp;**Buy/Sell** | &nbsp;&nbsp;**Contract<br> Amount** | &nbsp;&nbsp;**Contract<br> Value Date** | &nbsp;&nbsp;**Value<br> USD** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> Depreciation** |
| Euro | SSB | &nbsp;&nbsp;Sell | &nbsp;&nbsp;115007700 | &nbsp;&nbsp;3/25/2026 | &nbsp;&nbsp;135655726 | &nbsp;&nbsp;$1408151 | &nbsp;&nbsp;$— |
| Euro | SSB | &nbsp;&nbsp;Buy | &nbsp;&nbsp;5980300 | &nbsp;&nbsp;3/25/2026 | &nbsp;&nbsp;7053979 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (30996) |
| Euro | SSB | &nbsp;&nbsp;Sell | &nbsp;&nbsp;2715400 | &nbsp;&nbsp;3/25/2026 | &nbsp;&nbsp;3202912 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (38436) |
| Euro | SSB | &nbsp;&nbsp;Buy | &nbsp;&nbsp;2505500 | &nbsp;&nbsp;3/25/2026 | &nbsp;&nbsp;2955328 | &nbsp;&nbsp;&nbsp; 50641 | &nbsp;&nbsp;&nbsp; — |
| Total |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1458792 | &nbsp;&nbsp;&nbsp;&nbsp;$(69432) |
| Net unrealized appreciation (depreciation) |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1389360 |  |

---

\* Counterparty includes State Street Bank and Trust Company ("SSB").

---

| | |
|:---|:---|
| **Footnote Legend** | **Footnote Legend** |
| a | Security currently fair valued by Thornburg Investment Management, Inc.'s Valuation and Pricing Committee. |
| b | Non-income producing. |
| c | Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| d | Variable, floating, step, or fixed to floating rate securities are securities for which interest rate changes are based on changes in a designated base rate or on a predetermined schedule. The rates shown are those in effect on December 31, 2025. |
| e | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are restricted but liquid and may only be resold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2025, the aggregate value of these securities in the Fund's portfolio was $4,986,140,027, representing 48.14% of the Fund's net assets. |
| f | Bond in default. |
| g | Yankee bond denominated in U.S. dollars and is issued in the U.S. by foreign banks and corporations. |
| h | Interest only. |
| i | The stated coupon rate represents the greater of the SOFR or the SOFR floor rate plus a spread at December 31, 2025. |
| j | This position or a portion of this position represents an unsettled loan purchase. The coupon rate will be effective at the time of settlement and will be based upon the Secured Overnight Financing Rate ("SOFR") plus a premium which was determined at the time of purchase. |
| k | Investment in Affiliates. |

---

#### Portfolio Abbreviations<br> To simplify the listings of securities, abbreviations are used per the table below:

---

| | |
|:---|:---|
| ABS | Asset Backed Securities |
| ACB | Agricultural Credit Bank |
| ARM | Adjustable Rate Mortgage |
| AUD | Denominated in Australian Dollar |
| BRL | Denominated in Brazilian Real |
| CMBS | Commercial Mortgage-Backed Securities |
| CMO | Collateralized Mortgage Obligation |
| CMT | Constant Maturity Rate |
| DAC | Designated Activity Company |
| DOP | Denominated in Dominican Peso |
| EGP | Denominated in Egyptian Pound |
| EUR | Denominated in Euro |
| GBP | Denominated in Pound Sterling |

---

---

| | |
|:---|:---|
| H15T1Y | US Treasury Yield Curve Rate T-Note Constant Maturity 1 Year |
| HFFA | Health Facilities Financing Authority |
| IDR | Denominated in Indonesian Rupiah |
| Mtg | Mortgage |
| NZD | Dominated in New Zealand Dollar |
| REMIC | Real Estate Mortgage Investment Conduit |
| SOFR | Secured Overnight Financing Rate |
| SOFR30A | Secured Overnight Financing Rate 30-Day Average |
| SOFR90A | Secured Overnight Financing Rate 90-Day Average |
| TSFR1M | Term SOFR 1 Month |
| TSFR3M | Term SOFR 3 Month |
| UMBS | Uniform Mortgage-Backed Securities |
| UZS | Denominated in Uzbekistani Som |

---

------

NOTES TO SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

#### NOTE 1 – ORGANIZATION
Thornburg Strategic Income Fund (the "Fund") is a diversified series of Thornburg Investment Trust (the "Trust"). The Trust is organized as a Massachusetts business trust under a Declaration of Trust dated June 3, 1987, and is registered as a diversified, open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund is currently one of twenty-six separate series of the Trust. Each series is considered to be a separate entity for financial reporting and tax purposes. The Fund currently offers seven classes of shares of beneficial interest: Class A, Class C, Institutional Class ("Class I"), and Retirement Classes ("Class R3", "Class R4", "Class R5", and "Class R6").

#### NOTE 2 – SECURITY VALUATION
Valuation of the Fund's portfolio investment securities is performed by Thornburg Investment Management, Inc., the Trust's investment advisor (the "Advisor"), which has been designated by the Trustees of the Trust (the "Trustees") as the Fund's "valuation designee," as that term is defined in rule 2a-5 under the 1940 Act. The Advisor performs this valuation function under the supervision of the Trustees and in accordance with policies and procedures that have been adopted by the Advisor and approved by the Trustees (the "Valuation Policy and Procedures").

In its capacity as the Fund's valuation designee, the Advisor makes good faith determinations of the fair value of portfolio securities for which market quotations are not readily available, and otherwise complies with and administers the Valuation Policy and Procedures. The Advisor performs those functions in significant measure through its Valuation and Pricing Committee (the "Committee"), though the Advisor may also obtain the assistance of others, including professional pricing service providers selected and approved by the Committee. In accordance with the Valuation Policy and Procedures, the Committee: assesses and manages the material risks associated with determining the fair value of those Fund investments for which market quotations are not readily available; selects and applies methodologies for determining and calculating such fair values; periodically reviews and tests the appropriateness and accuracy of those methodologies; monitors for circumstances that may necessitate the use of fair value; and approves, monitors, and evaluates pricing services engaged to provide evaluated prices for the Fund's investments. The Committee provides reports on its activities to the Trustees' Audit Committee, which is responsible for overseeing the Committee's and the Advisor's work in discharging the functions under the Valuation Policy and Procedures.

In those instances when the Committee assists in calculating a fair value for a portfolio investment, the Committee seeks to determine the price that the Fund would reasonably expect to receive upon a sale of the investment in an orderly transaction between market participants on the valuation date. The Committee customarily utilizes quotations from securities broker dealers in calculating valuations, but also may utilize prices obtained from pricing service providers or other methods selected by the Committee. Because fair values calculated by the Committee are estimates, the calculation of a fair value for an investment may differ from the price that would be realized by the Fund upon a sale of the investment, and the difference could be material to the Fund's financial statements. The Committee's calculation of a fair value for an investment may also differ from the prices obtained by other persons (including other mutual funds) for the investment.

<u>Valuation of Securities:</u> Securities and other portfolio investments which are listed or traded on a United States securities exchange are generally valued at the last reported sale price on the valuation date or, if there has been no sale of the investment on that date, at the mean between the last reported bid and asked prices for the investment on that date. Portfolio investments reported by NASDAQ are valued at the official closing price on the valuation date. If an investment is traded on more than one exchange, the investment is considered traded on the exchange that is normally the primary market for that investment. For securities and other portfolio investments which are primarily listed or traded on an exchange outside the United States, the time for determining the investment's value in accordance with the first sentence of this paragraph will be the close of that investment's primary exchange preceding the Fund's valuation time.

In any case when a market quotation is not readily available for a portfolio investment ordinarily valued by market quotation, the Committee calculates a fair value for the investment using methodologies selected and approved by the Committee as described in the Valuation Policy and Procedures, subject to changes or additions by the Committee. For this purpose, a market quotation is considered to be readily available if it is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date. Pursuant to the Valuation Policy and Procedures, the Committee shall monitor for circumstances that may necessitate the use of fair valuation methodologies, including circumstances in which a market quotation for an investment is no longer reliable or is otherwise not readily available. For that purpose, a market quotation is not readily available when the primary market or exchange for the applicable investment is not open for the entire scheduled day of trading. A market quotation may also not be readily available if: (a) developments occurring after the most recent close of the applicable investment's primary exchange, but prior to the close of business on any business day; or (b) an unusual event or significant period of time occurring since the availability of the market quotation, create a serious question concerning the reliability of that market quotation. Additionally, a market quotation will be considered unreliable if it would require adjustment under GAAP, or where GAAP would require consideration of additional inputs in determining the value of the investment. The Committee customarily obtains valuations in those instances from pricing service providers approved by the Committee. Such pricing service providers ordinarily calculate valuations using multi-factor models to adjust market prices based upon various inputs, including exchange data, depository receipt prices, futures, index data, and other data.

------

NOTES TO SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Strategic Income Fund** | *December 31, 2025 (Unaudited)* |

---

------

Investments in U.S. mutual funds are valued at net asset value ("NAV") each business day.

Forward currency contracts are valued by a third-party pricing service provider.

Debt obligations held by the Fund which are not listed or traded on exchanges or for which no reported market exists are ordinarily valued at the valuation obtained from a pricing service provider approved by the Committee.

In any case when a pricing service provider fails to provide a valuation for a debt obligation held by the Fund, the Committee may calculate a fair value for the obligation using alternative methods selected and approved by the Committee. Additionally, in cases when the Committee believes that a valuation obtained from a pricing service provider is stale, does not reflect material factors affecting the valuation of the investment, is significantly different than the value the Fund is likely to obtain if it sought a bid for the investment, or is otherwise unreliable, the Committee may calculate a fair value for the obligation using an alternative method selected and approved by the Committee.

If the market quotation for an investment is expressed in a foreign currency, that market quotation will be converted to U.S. dollars using a foreign exchange quotation from a third-party service at the time of valuation. Foreign investments held by the Fund may be traded on days and at times when the Fund is not open for business. Consequently, the value of Fund's investments may be significantly affected on days when shareholders cannot purchase or sell Fund's shares.

#### NOTE 3 – Investments with Affiliates
Shown below are holdings of voting securities of each portfolio company which is considered "affiliated" to the Fund under the 1940 Act, including companies for which the Fund's holding represented 5% or more of the company's voting securities, and a series of the Thornburg Investment Trust in which the Fund invested for cash management purposes during the period:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Market Value<br> 9/30/25** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Sales<br> Proceeds** | &nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appr./(Depr.)** | &nbsp;&nbsp;**Market Value<br> 12/31/25** | &nbsp;&nbsp;**Dividend<br> Income** |
| Thornburg Capital Mgmt. Fund | $475342650 | &nbsp;&nbsp;$585816928 | &nbsp;&nbsp;$(525691474) | &nbsp;&nbsp;$- | &nbsp;&nbsp;$- | &nbsp;&nbsp;$535468104 | &nbsp;&nbsp;$5183819 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** THORNBURG INVESTMENT TRUST

- **b. Investment Company Act file number:** 811-05201

- **c. CIK number of Registrant:** 0000816153

- **d. LEI of Registrant:** 5493001XM52H8S4WYY82

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

  - **Street Address 1:** 2300 NORTH RIDGETOP ROAD

  - **City:** SANTA FE

  - **State:** NM

  - **Foreign country:** US

  - **Zip / Postal Code:** 87506-8361

  - **Telephone number:** 505-984-0200

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

- **a. Name of Series:** Thornburg Strategic Income Fund

- **b. EDGAR series identifier (if any):** S000020097

- **c. LEI of Series:** 549300DQDM30USQXD355

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $10422379129.66

**Total Liabilities:** $56796747.65

**Net Assets:** $10365582382.01

**Delayed Delivery Securities:** $7481250.00

**Cash Not Reported:** $919318.76

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -19145.94000000 | **1-Year:** -247914.06000000 | **5-Year:** -717555.92000000 | **10-Year:** -487298.14000000 | **30-Year:** -96361.77000000

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

- **3-Month:** -18969.04000000 | **1-Year:** -154405.46000000 | **5-Year:** -306637.76000000 | **10-Year:** -120627.62000000 | **30-Year:** -40837.77000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000056389 | 0.42%                | 0.54%                | 0.13%                |
| Class ID C000056390 | 0.45%                | 0.48%                | 0.07%                |
| Class ID C000056391 | 0.46%                | 0.57%                | 0.16%                |
| Class ID C000113850 | 0.49%                | 0.51%                | 0.02%                |
| Class ID C000113851 | 0.54%                | 0.57%                | 0.07%                |
| Class ID C000136850 | 0.40%                | 0.52%                | 0.11%                |
| Class ID C000177481 | 0.55%                | 0.57%                | 0.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2337310.38              | $3110116.00                                |
| Month 2  | $7100966.06              | $8481596.74                                |
| Month 3  | $798811.57               | $-28338730.41                              |

### Schedule of Portfolio Investments

| Name                                              | Title                                                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |      Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABG Intermediate Holdings 2 LLC                   | ABG Intermediate Holdings 2 LLC 2024 1st Lien Term Loan B                   | CUSIP: 00076VBL3<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |      4654648 | PA      | $4657580.67   | 0.04%             | 2028-12-21      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                   | ABG Intermediate Holdings 2 LLC 2025 Delayed Draw Term Loan                 | CUSIP: 00076VBM1<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |     14887500 | PA      | $14887500.00  | 0.14%             | 2032-02-13      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| ACCO BRANDS CORP                                  | ACCO Brands Corp                                                            | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |     16611000 | PA      | $15393579.81  | 0.15%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                                    | ACHV ABS TRUST 2023-3PL                                                     | CUSIP: 000876AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       941314 | PA      | $947328.43    | 0.01%             | 2030-08-19      | Fixed         | 8.36%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                                    | ACHV ABS TRUST 2023-4CP                                                     | CUSIP: 00092CAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3500566 | PA      | $3536741.24   | 0.03%             | 2030-11-25      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ACHD Trust                                        | ACHD Trust 2025-DS1                                                         | CUSIP: 00092TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7000000 | PA      | $7002909.34   | 0.07%             | 2034-01-09      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                     | AEP Texas Inc                                                               | CUSIP: 00108WAM2<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |      2612000 | PA      | $2379375.28   | 0.02%             | 2030-07-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                     | AEP Texas Inc                                                               | CUSIP: 00108WAR1<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |      5106000 | PA      | $5267553.84   | 0.05%             | 2033-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| AES ESPANA BV                                     | AES Espana BV                                                               | CUSIP: 00109YAA3<br>LEI: 7245003VZ59682IZLJ86 | Long             | DBT              | CORP              | NL        |     20027000 | PA      | $19785474.38  | 0.19%             | 2028-05-04      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                           | Corebridge Global Funding                                                   | CUSIP: 00138CAU2<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |      4740000 | PA      | $4781380.20   | 0.05%             | 2026-07-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMCR ABS Trust                                    | AMCR ABS TRUST 2024-A                                                       | CUSIP: 00178EAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       364352 | PA      | $364856.49    | 0.00%             | 2031-08-18      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| APA INFRASTRUCTURE LTD                            | APA Infrastructure Ltd                                                      | CUSIP: 00188LAA5<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |      9210000 | PA      | $9264799.50   | 0.09%             | 2034-09-16      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ATS CORP                                          | ATS Corp                                                                    | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |      9620000 | PA      | $9374882.40   | 0.09%             | 2028-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ASP WHCO PARTN 2025 2 LP                          | ASP WHCO PARTN 2025 2 LP                                                    | CUSIP: 00218YAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     23750000 | PA      | $23691451.50  | 0.23%             | 2029-03-29      | Variable      | 6.78%                 | No            |                  2 | On Loan: No      |
| ACUSHNET CO                                       | Acushnet Co                                                                 | CUSIP: 005095AB0<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |      1955000 | PA      | $1980708.25   | 0.02%             | 2033-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| AEGEA FINANCE SARL                                | Aegea Finance Sarl                                                          | CUSIP: 00775CAC0<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |     18400000 | PA      | $19370600.00  | 0.19%             | 2031-01-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AEROPUERTOS DOMINICANOS                           | Aeropuertos Dominicanos Siglo XXI SA                                        | CUSIP: 007866AE6<br>LEI: 254900KJA5MXNPYB4W32 | Long             | DBT              | CORP              | DO        |      5000000 | PA      | $5255050.00   | 0.05%             | 2034-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                        | Affirm Asset Securitization Trust 2025-X2                                   | CUSIP: 00835DAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6899581 | PA      | $6907538.12   | 0.07%             | 2030-10-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AIRBNB INC                                        | Airbnb Inc                                                                  | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |      1200000 | PA      | $1188768.00   | 0.01%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                          | Ajax Mortgage Loan Trust 2023-B                                             | CUSIP: 009691AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7835477 | PA      | $7771554.54   | 0.07%             | 2062-10-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                          | Ajax Mortgage Loan Trust 2022-A                                             | CUSIP: 009695AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3207855 | PA      | $3134685.65   | 0.03%             | 2061-10-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                          | Ajax Mortgage Loan Trust 2021-F                                             | CUSIP: 009703AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2493018 | PA      | $2491716.38   | 0.02%             | 2061-06-25      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                          | Ajax Mortgage Loan Trust 2021-C                                             | CUSIP: 009733AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3308985 | PA      | $3308877.84   | 0.03%             | 2061-01-25      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                          | Ajax Mortgage Loan Trust 2023-C                                             | CUSIP: 009926AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8347118 | PA      | $8110009.84   | 0.08%             | 2063-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                            | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC       | CUSIP: 013092AB7<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |     13948000 | PA      | $13990122.96  | 0.13%             | 2028-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                            | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC       | CUSIP: 01309QAA6<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |      4725000 | PA      | $4822571.25   | 0.05%             | 2028-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                            | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC       | CUSIP: 01309QAB4<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1027720.00   | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ALLEGION US HOLDING CO                            | Allegion US Holding Co Inc                                                  | CUSIP: 01748TAC5<br>LEI: 5493002B66JX7J7SXI33 | Long             | DBT              | CORP              | US        |      4659000 | PA      | $4849925.82   | 0.05%             | 2032-07-01      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE                            | Alliant Energy Finance LLC                                                  | CUSIP: 01882YAC0<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |      1500000 | PA      | $1489260.00   | 0.01%             | 2026-03-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE                            | Alliant Energy Finance LLC                                                  | CUSIP: 01882YAE6<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |      3415000 | PA      | $3568606.70   | 0.03%             | 2029-03-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                  | Altria Group Inc                                                            | CUSIP: 02209SBL6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |      9890000 | PA      | $8750078.60   | 0.08%             | 2032-02-04      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| AMDR ABS Trust                                    | AMDR ABS TRUST 2025-1                                                       | CUSIP: 02342WAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5130781 | PA      | $5139224.60   | 0.05%             | 2033-12-19      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMCOR GROUP FINANCE                               | Amcor Group Finance PLC                                                     | CUSIP: 02344BAA4<br>LEI: 2549008XHB8M1L64J275 | Long             | DBT              | CORP              | GB        |      4400000 | PA      | $4549600.00   | 0.04%             | 2029-05-23      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                           | American National Group Inc                                                 | CUSIP: 025676AN7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |      4408000 | PA      | $4562897.12   | 0.04%             | 2029-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GF                              | American National Global Funding                                            | CUSIP: 02771D2A1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12303000 | PA      | $12644162.19  | 0.12%             | 2030-01-28      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GF                              | American National Global Funding                                            | CUSIP: 02771D2B9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8340000 | PA      | $8476776.00   | 0.08%             | 2030-06-03      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                           | American National Group Inc                                                 | CUSIP: 02772AAA7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |     12684000 | PA      | $13241081.28  | 0.13%             | 2032-06-13      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER TRUST I                            | American Tower Trust #1                                                     | CUSIP: 03027WAK8<br>LEI: 5493004YGM0MQZJOEJ36 | Long             | DBT              |  | US        |     14250000 | PA      | $14108429.10  | 0.14%             | 2028-03-23      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                               | American Tower Corp                                                         | CUSIP: 03027XBG4<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |      6000000 | PA      | $5353740.00   | 0.05%             | 2030-10-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                               | American Tower Corp                                                         | CUSIP: 03027XCE8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |      5000000 | PA      | $5218100.00   | 0.05%             | 2028-11-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                               | American Tower Corp                                                         | CUSIP: 03027XCN8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |       521000 | PA      | $532123.35    | 0.01%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                               | American Tower Corp                                                         | CUSIP: 03027XCR9<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |      4171000 | PA      | $4178466.09   | 0.04%             | 2032-12-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                         | Amgen Inc                                                                   | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5179300.00   | 0.05%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                          | Angel Oak Mortgage Trust 2022-1                                             | CUSIP: 03464BAE8<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      4575000 | PA      | $3514227.28   | 0.03%             | 2066-12-25      | Variable      | 4.02%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                          | Angel Oak Mortgage Trust 2023-2                                             | CUSIP: 03465GAA4<br>LEI: 254900IWOX9Q54UE4072 | Long             | ABS-MBS          | CORP              | US        |      5430052 | PA      | $5407969.32   | 0.05%             | 2067-10-25      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                          | Angel Oak Mortgage Trust 2022-6                                             | CUSIP: 03465VAC7<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      3555403 | PA      | $3582955.70   | 0.03%             | 2067-07-25      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                          | Angel Oak Mortgage Trust 2023-1                                             | CUSIP: 03465WAA9<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |     11056906 | PA      | $11019735.09  | 0.11%             | 2067-09-26      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| ANTARES HOLDINGS                                  | Antares Holdings LP                                                         | CUSIP: 03666HAC5<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |     10596000 | PA      | $10548106.08  | 0.10%             | 2026-07-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ANTARES HOLDINGS                                  | Antares Holdings LP                                                         | CUSIP: 03666HAD3<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |      1630000 | PA      | $1592705.60   | 0.02%             | 2027-01-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ANTARES HOLDINGS                                  | Antares Holdings LP                                                         | CUSIP: 03666HAE1<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |      6480000 | PA      | $6336986.40   | 0.06%             | 2027-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ANTARES HOLDINGS                                  | Antares Holdings LP                                                         | CUSIP: 03666HAF8<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5285950.00   | 0.05%             | 2028-08-11      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| ANTARES HOLDINGS                                  | Antares Holdings LP                                                         | CUSIP: 03666HAH4<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |      2000000 | PA      | $2039440.00   | 0.02%             | 2029-10-23      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                             | Aon North America Inc                                                       | CUSIP: 03740MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11280000 | PA      | $11729056.80  | 0.11%             | 2034-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| APTARGROUP INC                                    | AptarGroup Inc                                                              | CUSIP: 038336AB9<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | DBT              | CORP              | US        |      6700000 | PA      | $6749714.00   | 0.07%             | 2031-03-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                                | Aqua Finance Trust 2019-A                                                   | CUSIP: 038370AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7688367 | PA      | $7477122.14   | 0.07%             | 2040-07-16      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                                | Aqua Finance Trust 2020-A                                                   | CUSIP: 038413AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1065247 | PA      | $995190.57    | 0.01%             | 2046-07-17      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                                | Aqua Finance Trust 2020-A                                                   | CUSIP: 038413AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2207844 | PA      | $2188697.89   | 0.02%             | 2046-07-17      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| Aqua Finance Trust                                | Aqua Finance Trust 2021-A                                                   | CUSIP: 03842VAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2093695 | PA      | $1923359.77   | 0.02%             | 2046-07-17      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                              | Aramark Services Inc 2024 Term Loan B8                                      | CUSIP: 03852JAV3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |     11168531 | PA      | $11191985.05  | 0.11%             | 2030-06-22      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Collateralized Loan Obligation Ltd   | Arbor Realty Commercial Real Estate Notes 2022-FL1 Ltd                      | CUSIP: 03880XAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      8078883 | PA      | $8078882.03   | 0.08%             | 2037-01-15      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                                  | Arches Buyer Inc                                                            | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |     19319000 | PA      | $18962371.26  | 0.18%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARCOS DORADOS BV                                  | Arcos Dorados BV                                                            | CUSIP: 03965TAC7<br>LEI: 549300T91OYP6I7P8G39 | Long             | DBT              | CORP              | NL        |     13740000 | PA      | $14555881.20  | 0.14%             | 2032-01-29      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                            | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      8510000 | PA      | $8193087.60   | 0.08%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                            | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | CUSIP: 03969YAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       300000 | PA      | $306759.00    | 0.00%             | 2031-01-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Arivo Acceptance Auto Loan Receivables Trust      | Arivo Acceptance Auto Loan Receivables Trust 2024-1                         | CUSIP: 039943AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       973761 | PA      | $979732.51    | 0.01%             | 2028-04-17      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| Arivo Acceptance Auto Loan Receivables Trust      | Arivo Acceptance Auto Loan Receivables Trust 2022-2                         | CUSIP: 04047JAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1760000 | PA      | $1804572.40   | 0.02%             | 2029-02-15      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                            | Arizona Public Service Co                                                   | CUSIP: 040555DH4<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |      6776000 | PA      | $7128826.32   | 0.07%             | 2034-08-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                             | Arroyo Mortgage Trust 2021-1R                                               | CUSIP: 042853AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1807632 | PA      | $1615859.11   | 0.02%             | 2048-10-25      | Variable      | 1.18%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                             | Arroyo Mortgage Trust 2019-1                                                | CUSIP: 042859AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       420294 | PA      | $411059.11    | 0.00%             | 2049-01-25      | Variable      | 3.81%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                             | Arroyo Mortgage Trust 2019-3                                                | CUSIP: 04285AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       882092 | PA      | $845112.02    | 0.01%             | 2048-10-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| Ascent Education Funding Trust                    | Ascent Education Funding Trust 2024-A                                       | CUSIP: 04362VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9418575 | PA      | $9677787.69   | 0.09%             | 2050-10-25      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| ASCOT GROUP LTD                                   | Ascot Group Ltd                                                             | CUSIP: 04365XAA6<br>LEI: 213800DJV7WRJBE2II28 | Long             | DBT              | CORP              | BM        |      6889000 | PA      | $6387963.03   | 0.06%             | 2030-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ATLX Trust                                        | ATLX 2024-RPL1 Trust                                                        | CUSIP: 049915AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10947775 | PA      | $10724140.05  | 0.10%             | 2064-04-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| ATLX Trust                                        | ATLX 2024-RPL2 Trust                                                        | CUSIP: 049919AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10583955 | PA      | $10234696.55  | 0.10%             | 2063-04-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                         | Auxilior Term Funding 2023-1 LLC                                            | CUSIP: 05335JAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       734047 | PA      | $738209.89    | 0.01%             | 2028-12-15      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                               | Avantor Funding Inc                                                         | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |      4945000 | PA      | $4917011.30   | 0.05%             | 2028-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AVERY DENNISON CORP                               | Avery Dennison Corp                                                         | CUSIP: 053611AN9<br>LEI: 549300PW7VPFCYKLIV37 | Long             | DBT              | CORP              | US        |     16449000 | PA      | $17450908.59  | 0.17%             | 2033-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AVNET INC                                         | Avnet Inc                                                                   | CUSIP: 053807AW3<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |     14700000 | PA      | $15229494.00  | 0.15%             | 2028-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                               | Axon Enterprise Inc                                                         | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |      1975000 | PA      | $2045448.25   | 0.02%             | 2030-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                  | BAT Capital Corp                                                            | CUSIP: 054989AF5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      2988000 | PA      | $2967412.68   | 0.03%             | 2033-03-22      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                  | BAT Capital Corp                                                            | CUSIP: 05526DBX2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      4862000 | PA      | $5680663.56   | 0.05%             | 2032-10-19      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BNSF FUNDING TRUST I                              | BNSF Funding Trust I                                                        | CUSIP: 05567SAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16580000 | PA      | $16590942.80  | 0.16%             | 2055-12-15      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| Brex Inc                                          | Brex Commercial Charge Card Master Trust                                    | CUSIP: 05601DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11173000 | PA      | $11207193.96  | 0.11%             | 2027-07-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                  | BOF URSA VI Funding Trust I                                                 | CUSIP: 05603KAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       837465 | PA      | $845835.76    | 0.01%             | 2031-10-27      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                  | BOF URSA VI Funding Trust I                                                 | CUSIP: 05603LAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1352555 | PA      | $1361219.59   | 0.01%             | 2031-10-27      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                  | BOF URSA VI Funding Trust I                                                 | CUSIP: 05603LAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2634596 | PA      | $2654696.59   | 0.03%             | 2031-10-27      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                              | BWX Technologies Inc                                                        | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |      4380000 | PA      | $4307204.40   | 0.04%             | 2028-06-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                              | BWX Technologies Inc                                                        | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |     12081000 | PA      | $11784773.88  | 0.11%             | 2029-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BXP Trust                                         | BXP Trust 2021-601L                                                         | CUSIP: 05607TAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6760000 | PA      | $5952922.52   | 0.06%             | 2044-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                         | BPR Trust 2023-BRK2                                                         | CUSIP: 05610WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4250000 | PA      | $4436404.75   | 0.04%             | 2038-10-05      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2025-LIFE                                                          | CUSIP: 05616HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     23150000 | PA      | $23481748.07  | 0.23%             | 2047-06-13      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                         | Ball Corp                                                                   | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     19714000 | PA      | $18204301.88  | 0.18%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                         | Ball Corp                                                                   | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1029020.00   | 0.01%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                         | Ball Corp                                                                   | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |      6643000 | PA      | $6766692.66   | 0.07%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                        | CUSIP: 06051GKW8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      4900000 | PA      | $4968600.00   | 0.05%             | 2028-07-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                            | Bank of New York Mellon Corp/The                                            | CUSIP: 064058AF7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |      1935000 | PA      | $1923525.45   | 0.02%             | 2026-09-20      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                            | Bank of New York Mellon Corp/The                                            | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     33455000 | PA      | $32947153.10  | 0.32%             | 2026-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                      | Barclays Mortgage Trust 2021-NPL1                                           | CUSIP: 06744JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4679829 | PA      | $4679380.12   | 0.05%             | 2051-11-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                      | Barclays Mortgage Loan Trust 2022-INV1                                      | CUSIP: 06744YAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11798837 | PA      | $11397619.10  | 0.11%             | 2062-02-25      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                      | Barclays Mortgage Trust 2022-RPL1                                           | CUSIP: 06745CAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13592524 | PA      | $13575486.89  | 0.13%             | 2028-02-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                          | Baxter International Inc                                                    | CUSIP: 071813DD8<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |      2741000 | PA      | $2759309.88   | 0.03%             | 2030-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Adjustable Rate Mortgage Trust       | Bear Stearns ARM Trust 2003-6                                               | CUSIP: 07384MXJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        12214 | PA      | $12347.51     | 0.00%             | 2033-08-25      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| BECLE SA DE CV                                    | Becle SAB de CV                                                             | CUSIP: 07586PAA9<br>LEI: 529900JY55CZKMJLCE09 | Long             | DBT              | CORP              | MX        |     34064000 | PA      | $29551201.28  | 0.29%             | 2031-10-14      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                             | Belron UK Finance PLC                                                       | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |      2680000 | PA      | $2736306.80   | 0.03%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Belron Finance 2019 LLC                           | Belron Finance 2019 LLC 2025 Repriced Term Loan B                           | CUSIP: 08078UAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     17584494 | PA      | $17672416.42  | 0.17%             | 2031-10-16      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                                  | Berry Global Inc                                                            | CUSIP: 085770AA3<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |     12729000 | PA      | $12732945.99  | 0.12%             | 2026-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bankers Healthcare Group Securitization Trust     | BHG Securitization Trust 2021-A                                             | CUSIP: 08861YAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2200000 | PA      | $2091151.00   | 0.02%             | 2033-11-17      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                  | Black Hills Corp                                                            | CUSIP: 092113AT6<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $927660.00    | 0.01%             | 2030-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                  | Black Hills Corp                                                            | CUSIP: 092113AW9<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |      6135000 | PA      | $6583591.20   | 0.06%             | 2034-05-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                  | Black Hills Corp                                                            | CUSIP: 092113AY5<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |      4371000 | PA      | $4368989.34   | 0.04%             | 2031-01-31      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Blackbird Capital Aircraft                        | Blackbird Capital Aircraft Lease Securitization Ltd 2016-1                  | CUSIP: 09228YAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |       697743 | PA      | $699138.51    | 0.01%             | 2041-12-16      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| BLOCK FINANCIAL LLC                               | Block Financial LLC                                                         | CUSIP: 093662AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3605000 | PA      | $3439818.90   | 0.03%             | 2028-07-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                       | BNP Paribas SA                                                              | CUSIP: 09659W2T0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |      1350000 | PA      | $1327900.50   | 0.01%             | 2028-01-20      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                  | BOF VII AL Funding Trust I                                                  | CUSIP: 097093AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3599776 | PA      | $3663516.36   | 0.04%             | 2032-07-26      | Fixed         | 6.29%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                           | Booz Allen Hamilton Inc                                                     | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |     14132000 | PA      | $13885113.96  | 0.13%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                           | Booz Allen Hamilton Inc                                                     | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |      7440000 | PA      | $7279593.60   | 0.07%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                           | Booz Allen Hamilton Inc                                                     | CUSIP: 09951LAD5<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |      4992000 | PA      | $5178351.36   | 0.05%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BOSTON GAS COMPANY                                | Boston Gas Co                                                               | CUSIP: 100743AM5<br>LEI: FN7P4E7K9JOBORDEUX61 | Long             | DBT              | CORP              | US        |      6140000 | PA      | $5818632.40   | 0.06%             | 2032-03-16      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                   | BRAVO Residential Funding Trust 2024-NQM4                                   | CUSIP: 10568NAA0<br>LEI: 254900NOKQW417VKV943 | Long             | ABS-MBS          | CORP              | US        |     24119909 | PA      | $23784746.13  | 0.23%             | 2060-01-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND                           | Brighthouse Financial Global Funding                                        | CUSIP: 10921U2C1<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |      2089000 | PA      | $2065624.09   | 0.02%             | 2026-05-24      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND                           | Brighthouse Financial Global Funding                                        | CUSIP: 10921U2E7<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |      9540000 | PA      | $8955198.00   | 0.09%             | 2028-06-28      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND                           | Brighthouse Financial Global Funding                                        | CUSIP: 10921U2J6<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |     16438000 | PA      | $16668132.00  | 0.16%             | 2027-04-09      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND                           | Brighthouse Financial Global Funding                                        | CUSIP: 10921U2L1<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |      4056000 | PA      | $4145962.08   | 0.04%             | 2029-06-10      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                      | Broadcom Inc                                                                | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      4861000 | PA      | $4124558.50   | 0.04%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD ASSET MANAGEM                          | Brookfield Asset Management Ltd                                             | CUSIP: 113004AA3<br>LEI: 549300CZ84WPNJZKY093 | Long             | DBT              | CORP              | CA        |      8500000 | PA      | $8888960.00   | 0.09%             | 2035-04-24      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD ASSET MANAGEM                          | Brookfield Asset Management Ltd                                             | CUSIP: 113004AB1<br>LEI: 549300CZ84WPNJZKY093 | Long             | DBT              | CORP              | CA        |     15030000 | PA      | $15144678.90  | 0.15%             | 2030-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                             | Brooklyn Union Gas Co/The                                                   | CUSIP: 114259AN4<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |      8931000 | PA      | $8920104.18   | 0.09%             | 2026-03-10      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                 | Brown & Brown Inc                                                           | CUSIP: 115236AG6<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |      6184000 | PA      | $6382630.08   | 0.06%             | 2034-06-11      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Bunker Hill Loan Depositary Trust                 | Bunker Hill Loan Depositary Trust 2019-3                                    | CUSIP: 12062BAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3420000 | PA      | $3375830.22   | 0.03%             | 2059-11-25      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                          | Burford Capital Global Finance LLC                                          | CUSIP: 12116LAA7<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $4972200.00   | 0.05%             | 2028-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                          | Burford Capital Global Finance LLC                                          | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |     18500000 | PA      | $19058515.00  | 0.18%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8373000 | PA      | $8009862.99   | 0.08%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6548000 | PA      | $6017350.08   | 0.06%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000000 | PA      | $4256850.00   | 0.04%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       900000 | PA      | $822510.00    | 0.01%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                               | CDW LLC / CDW Finance Corp                                                  | CUSIP: 12513GBD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18083000 | PA      | $18035441.71  | 0.17%             | 2028-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                               | CDW LLC / CDW Finance Corp                                                  | CUSIP: 12513GBF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5238000 | PA      | $5045765.40   | 0.05%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                               | CDW LLC / CDW Finance Corp                                                  | CUSIP: 12513GBK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9391000 | PA      | $9565954.33   | 0.09%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY / RADIO SYS                           | CD&R Smokey Buyer Inc / Radio Systems Corp                                  | CUSIP: 12515KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11475000 | PA      | $9281553.75   | 0.09%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CHNGE Mortgage Trust 2022-2                       | CHNGE Mortgage Trust 2022-2                                                 | CUSIP: 12546YAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7015000 | PA      | $5256878.25   | 0.05%             | 2067-03-25      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| CHNGE Mortgage Trust                              | CHNGE Mortgage Trust 2023-1                                                 | CUSIP: 12547QAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4874972 | PA      | $4867707.66   | 0.05%             | 2058-03-25      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2018-INV1                                                         | CUSIP: 12553XAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       123965 | PA      | $116157.22    | 0.00%             | 2048-08-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J1                                                           | CUSIP: 12559YAS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11964556 | PA      | $258215.45    | 0.00%             | 2049-10-25      | Variable      | 0.44%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J1                                                           | CUSIP: 12559YAT2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10671330 | PA      | $296497.55    | 0.00%             | 2049-10-25      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J1                                                           | CUSIP: 12559YBK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       315529 | PA      | $270768.10    | 0.00%             | 2049-10-25      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J1                                                           | CUSIP: 12559YBL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       159506 | PA      | $99970.79     | 0.00%             | 2049-10-25      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J1                                                           | CUSIP: 12559YBM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       286799 | PA      | $143945.77    | 0.00%             | 2049-10-25      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J1                                                           | CUSIP: 12559YBN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14912642 | PA      | $161899.10    | 0.00%             | 2049-10-25      | Variable      | 0.20%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J2                                                           | CUSIP: 12568PBA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     94064085 | PA      | $1368406.68   | 0.01%             | 2051-01-25      | Variable      | 0.25%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J2                                                           | CUSIP: 12568PCJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       491000 | PA      | $225781.06    | 0.00%             | 2051-01-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J2                                                           | CUSIP: 12568PCK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       164000 | PA      | $74621.63     | 0.00%             | 2051-01-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J2                                                           | CUSIP: 12568PCL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       654523 | PA      | $280924.35    | 0.00%             | 2051-01-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2020-J2                                                           | CUSIP: 12568PCM3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100583249 | PA      | $1220738.65   | 0.01%             | 2051-01-25      | Variable      | 0.21%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2023-I1                                                           | CUSIP: 12570DAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10705000 | PA      | $10709593.41  | 0.10%             | 2058-04-25      | Variable      | 7.05%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2023-I2                                                           | CUSIP: 12570HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9353885 | PA      | $9400410.88   | 0.09%             | 2067-12-25      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2019-AFC1 Trust                                                        | CUSIP: 12596XAF9<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      2366448 | PA      | $2275811.15   | 0.02%             | 2049-07-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                                    | CPS Auto Receivables Trust 2023-D                                           | CUSIP: 12598VAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1331157 | PA      | $1332423.68   | 0.01%             | 2028-03-15      | Fixed         | 6.78%                 | No            |                  2 | On Loan: No      |
| CNA FINANCIAL CORP                                | CNA Financial Corp                                                          | CUSIP: 126117AY6<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |      6785000 | PA      | $6829577.45   | 0.07%             | 2034-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CNO FINANCIAL GROUP INC                           | CNO Financial Group Inc                                                     | CUSIP: 12621EAM5<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |     11385000 | PA      | $12045557.70  | 0.12%             | 2034-06-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                               | COMM 2024-277P Mortgage Trust                                               | CUSIP: 12654FAA8<br>LEI: 5493004GWEVMOU8S3L34 | Long             | ABS-MBS          | CORP              | US        |      9000000 | PA      | $9472595.04   | 0.09%             | 2044-08-10      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| CPT MORTGAGE TRUST                                | Century Plaza Towers 2019-CPT                                               | CUSIP: 12654YAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5080000 | PA      | $4706380.27   | 0.05%             | 2039-11-13      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2020-WEST Trust                                                        | CUSIP: 12655QAA3<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     22257500 | PA      | $19001801.99  | 0.18%             | 2035-02-15      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2021-AFC1 Trust                                                        | CUSIP: 12657LAG9<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |       146228 | PA      | $101923.87    | 0.00%             | 2056-03-25      | Variable      | 4.31%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2021-AFC1 Trust                                                        | CUSIP: 12657LAH7<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     39475028 | PA      | $387119.76    | 0.00%             | 2056-03-25      | Variable      | 0.25%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2021-AFC1 Trust                                                        | CUSIP: 12657LAJ3<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     39475028 | PA      | $6536669.97   | 0.06%             | 2056-03-25      | Variable      | 3.21%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                                    | CPS Auto Securitization Trust 2021-1                                        | CUSIP: 12657TAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6232659 | PA      | $6216644.09   | 0.06%             | 2026-06-16      | Fixed         | 7.86%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2021-RPL11 Trust                                                       | CUSIP: 12659AAC0<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     12791812 | PA      | $10746439.92  | 0.10%             | 2061-10-25      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2021-NQM8                                                              | CUSIP: 12659FAF2<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      3478650 | PA      | $3031642.08   | 0.03%             | 2066-10-25      | Variable      | 4.24%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2021-BPNY                                                              | CUSIP: 12659XAA4<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     12573585 | PA      | $12213188.63  | 0.12%             | 2026-08-15      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2021-NQM3                                                              | CUSIP: 12660LAA7<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      1841195 | PA      | $1597317.52   | 0.02%             | 2066-04-25      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2021-NQM3                                                              | CUSIP: 12660LAF6<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      2650000 | PA      | $2029035.84   | 0.02%             | 2066-04-25      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2022-NQM5 Trust                                                        | CUSIP: 12663DAE4<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      3049688 | PA      | $3039270.93   | 0.03%             | 2067-05-25      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                                    | CPS Auto Receivables Trust 2022-C                                           | CUSIP: 12664DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         3719 | PA      | $3718.90      | 0.00%             | 2030-04-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                      | CSMC 2022-ATH2                                                              | CUSIP: 12665WAC4<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      4265280 | PA      | $4250875.67   | 0.04%             | 2067-05-25      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| CACI International Inc                            | CACI International Inc Term Loan B                                          | CUSIP: 12718FAL8<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | LON              | CORP              | US        |      3465000 | PA      | $3465727.65   | 0.03%             | 2031-10-30      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority  | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                                   | CUSIP: 13033LLT2<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |       450000 | PA      | $451359.45    | 0.00%             | 2026-02-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2022-N1                                      | CUSIP: 14686GAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4272650 | PA      | $4092363.25   | 0.04%             | 2028-12-11      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2021-P1                                      | CUSIP: 14687B106<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        23500 | PA      | $1529695.18   | 0.01%             | 2027-12-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2021-N4                                      | CUSIP: 14687HAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        11650 | PA      | $434301.47    | 0.00%             | 2028-09-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2021-P3                                      | CUSIP: 14687JAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         9000 | PA      | $824452.50    | 0.01%             | 2028-09-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2021-P4                                      | CUSIP: 14687KAK2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         8250 | PA      | $954723.07    | 0.01%             | 2028-09-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2021-P2                                      | CUSIP: 14687TAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         7500 | PA      | $1020328.85   | 0.01%             | 2028-05-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2022-P1                                      | CUSIP: 14688DAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    151312229 | PA      | $458778.68    | 0.00%             | 2029-01-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2022-P1                                      | CUSIP: 14688DAM3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        24000 | PA      | $5100356.57   | 0.05%             | 2029-01-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                    | Carvana Auto Receivables Trust 2023-N4                                      | CUSIP: 14688LAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       160265 | PA      | $160351.65    | 0.00%             | 2028-01-10      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| Cascade MH Asset Trust                            | Cascade MH Asset Trust 2021-MH1                                             | CUSIP: 14731QAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1936119 | PA      | $1759251.04   | 0.02%             | 2046-02-25      | Variable      | 7.67%                 | No            |                  2 | On Loan: No      |
| Celsius Holdings Inc                              | Celsius Holdings Inc 2025 Term Loan B                                       | CUSIP: 15118XAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      9310000 | PA      | $9361205.00   | 0.09%             | 2032-04-01      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                      | Centene Corp                                                                | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |      5775000 | PA      | $5599959.75   | 0.05%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                      | Centene Corp                                                                | CUSIP: 15135BAW1<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |      6962000 | PA      | $6229319.12   | 0.06%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                      | Centene Corp                                                                | CUSIP: 15135BAZ4<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |      3950000 | PA      | $3393879.50   | 0.03%             | 2031-08-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RES                            | CenterPoint Energy Resources Corp                                           | CUSIP: 15189WAS9<br>LEI: 2JADVB0458J06WCD4N56 | Long             | DBT              | CORP              | US        |      6427000 | PA      | $6631507.14   | 0.06%             | 2034-07-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CNTL AMR BOTTLING CORP                            | Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL   | CUSIP: 15239XAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |     24655000 | PA      | $24278271.60  | 0.23%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Century De Buyer LLC                              | Century De Buyer LLC 2025 Term Loan B                                       | CUSIP: 15651FAE6<br>LEI: 254900PQRPPYRTQIDX74 | Long             | LON              | CORP              | US        |      3456425 | PA      | $3446712.23   | 0.03%             | 2030-10-30      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| Champ Acquisition Corporation                     | Champ Acquisition Corporation 2024 Term Loan B                              | CUSIP: 15807EAH5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      6855660 | PA      | $6881369.11   | 0.07%             | 2031-11-25      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| CHAMP ACQUISITION CORP                            | Champ Acquisition Corp                                                      | CUSIP: 15807XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3590000 | PA      | $3876123.00   | 0.04%             | 2031-12-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                          | Charles River Laboratories International Inc                                | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |     10370000 | PA      | $10278951.40  | 0.10%             | 2028-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                          | Charles River Laboratories International Inc                                | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |      6567000 | PA      | $6345954.78   | 0.06%             | 2029-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                | Chase Home Lending Mortgage Trust 2019-1                                    | CUSIP: 16159WBZ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       656076 | PA      | $574510.61    | 0.01%             | 2050-03-25      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                | Chase Home Lending Mortgage Trust 2019-1                                    | CUSIP: 16159WCA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       338499 | PA      | $269504.93    | 0.00%             | 2050-03-25      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                | Chase Home Lending Mortgage Trust 2019-1                                    | CUSIP: 16159WCB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       521093 | PA      | $351550.06    | 0.00%             | 2050-03-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                | Chase Mortgage Finance Corp                                                 | CUSIP: 16164AAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1868241 | PA      | $1738956.73   | 0.02%             | 2045-12-25      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| CHNGE Mortgage Trust 2022-1                       | CHNGE Mortgage Trust 2022-1                                                 | CUSIP: 17030JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16842803 | PA      | $16283297.05  | 0.16%             | 2067-01-25      | Variable      | 3.01%                 | No            |                  2 | On Loan: No      |
| CHNGE Mortgage Trust 2022-1                       | CHNGE Mortgage Trust 2022-1                                                 | CUSIP: 17030JAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4700000 | PA      | $3904899.59   | 0.04%             | 2067-01-25      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                         | CIM Trust 2024-R1                                                           | CUSIP: 17179VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13198221 | PA      | $13170615.95  | 0.13%             | 2064-06-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2022-INV1                                     | CUSIP: 17290FBU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    174592694 | PA      | $2779952.17   | 0.03%             | 2051-11-27      | Variable      | 0.29%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2022-INV1                                     | CUSIP: 17290FDX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1260856 | PA      | $1049844.55   | 0.01%             | 2051-11-27      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2022-INV1                                     | CUSIP: 17290FDZ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3178761 | PA      | $1537995.94   | 0.01%             | 2051-11-27      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                               | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     13223000 | PA      | $13183463.23  | 0.13%             | 2026-02-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2004-HYB2                                     | CUSIP: 17307GEF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        16141 | PA      | $6602.16      | 0.00%             | 2034-03-25      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2014-A                                        | CUSIP: 17322GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       252556 | PA      | $247599.06    | 0.00%             | 2035-01-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                          | Citigroup Global Markets Holdings Inc/United States                         | CUSIP: 17327TJ23<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |      4108000 | PA      | $3729147.92   | 0.04%             | 2035-01-29      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2020-EXP1                                     | CUSIP: 17328JAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1180900 | PA      | $1007474.02   | 0.01%             | 2060-05-25      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2020-EXP1                                     | CUSIP: 17328JAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       770600 | PA      | $615360.32    | 0.01%             | 2060-05-25      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2020-EXP1                                     | CUSIP: 17328JAH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       386242 | PA      | $251696.41    | 0.00%             | 2060-05-25      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2020-EXP1                                     | CUSIP: 17328JAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16365137 | PA      | $526302.80    | 0.01%             | 2060-05-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust Inc                                           | CUSIP: 17328PCD3<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |       153000 | PA      | $93002.34     | 0.00%             | 2050-08-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust Inc                                           | CUSIP: 17328PCE1<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |       372000 | PA      | $201203.38    | 0.00%             | 2050-08-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | CITIGROUP MORTGAGE LOAN TRUST 2021-J1                                       | CUSIP: 17329EBX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       425000 | PA      | $206960.25    | 0.00%             | 2051-04-25      | Variable      | 2.61%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | CITIGROUP MORTGAGE LOAN TRUST 2021-J1                                       | CUSIP: 17329EBY2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       666000 | PA      | $299020.41    | 0.00%             | 2051-04-25      | Variable      | 2.61%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | CITIGROUP MORTGAGE LOAN TRUST 2021-J1                                       | CUSIP: 17329EBZ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       503782 | PA      | $201115.40    | 0.00%             | 2051-04-25      | Variable      | 2.61%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2021-J2                                       | CUSIP: 17329MCL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10257679 | PA      | $9249621.39   | 0.09%             | 2051-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2021-J2                                       | CUSIP: 17329MDU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2281541 | PA      | $1044424.55   | 0.01%             | 2051-07-25      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2021-J2                                       | CUSIP: 17329MDV8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       623000 | PA      | $281189.69    | 0.00%             | 2051-07-25      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2021-J2                                       | CUSIP: 17329MDW6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1247350 | PA      | $512725.46    | 0.00%             | 2051-07-25      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2021-J3                                       | CUSIP: 17330BDP2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1032000 | PA      | $570843.68    | 0.01%             | 2051-09-25      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2021-J3                                       | CUSIP: 17330BDQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       173000 | PA      | $84127.03     | 0.00%             | 2051-09-25      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2021-J3                                       | CUSIP: 17330BDR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       573357 | PA      | $240749.22    | 0.00%             | 2051-09-25      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2022-J1                                       | CUSIP: 17330CCU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       700598 | PA      | $362377.91    | 0.00%             | 2052-02-25      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2022-J1                                       | CUSIP: 17330CCV8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       527000 | PA      | $258590.52    | 0.00%             | 2052-02-25      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                 | Citigroup Mortgage Loan Trust 2022-J1                                       | CUSIP: 17330CCW6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1404735 | PA      | $554313.35    | 0.01%             | 2052-02-25      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                 | Clean Harbors Inc                                                           | CUSIP: 184496AP2<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |      2000000 | PA      | $2001480.00   | 0.02%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                 | Clean Harbors Inc                                                           | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |      3000000 | PA      | $3085980.00   | 0.03%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                 | Clean Harbors Inc                                                           | CUSIP: 184496AR8<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |       900000 | PA      | $923931.00    | 0.01%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLECO POWER LLC                                   | Cleco Power LLC                                                             | CUSIP: 185508AJ7<br>LEI: TM1ZH54SJKLNHFCBFK92 | Long             | DBT              | CORP              | US        |      9086000 | PA      | $9148602.54   | 0.09%             | 2036-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CNO GLOBAL FUNDING                                | CNO Global Funding                                                          | CUSIP: 18977W2C3<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |      7400000 | PA      | $7033996.00   | 0.07%             | 2029-01-06      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CNO GLOBAL FUNDING                                | CNO Global Funding                                                          | CUSIP: 18977W2H2<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |      4350000 | PA      | $4355742.00   | 0.04%             | 2028-09-08      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CNO GLOBAL FUNDING                                | CNO Global Funding                                                          | CUSIP: 18977W2J8<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5011050.00   | 0.05%             | 2030-12-11      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| COBANK ACB                                        | CoBank ACB                                                                  | CUSIP: 19075QAC6<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGA              | US        |     22624000 | PA      | $22714948.48  | 0.22%             | 2026-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                            | Cogent Communications Group LLC / Cogent Finance Inc                        | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |     11067000 | PA      | $11042541.93  | 0.11%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Cogent IPv4 LLC                                   | Cogent Ipv4 LLC                                                             | CUSIP: 19240JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4370000 | PA      | $4554061.17   | 0.04%             | 2054-05-25      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                         | College Ave Student Loans 2023-A LLC                                        | CUSIP: 193938107<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        35000 | PA      | $16941250.41  | 0.16%             | 2055-05-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                         | College Ave Student Loans 2021-A LLC                                        | CUSIP: 19424KAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1797839 | PA      | $1795360.65   | 0.02%             | 2051-07-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                         | College Ave Student Loans 2021-A LLC                                        | CUSIP: 19424KAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       171223 | PA      | $158974.58    | 0.00%             | 2051-07-25      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                         | College Ave Student Loans 2021-C LLC                                        | CUSIP: 19424W107<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        38750 | PA      | $9251813.21   | 0.09%             | 2055-07-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                         | College Ave Student Loans 2021-C LLC                                        | CUSIP: 19424WAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3853108 | PA      | $3817657.64   | 0.04%             | 2055-07-26      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| COLORADO INT GAS CO/ISS                           | Colorado Interstate Gas Co LLC / Colorado Interstate Issuing Corp           | CUSIP: 196500AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       725000 | PA      | $724166.25    | 0.01%             | 2026-08-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                          | Columbia Pipelines Holding Co LLC                                           | CUSIP: 19828AAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10410000 | PA      | $10592279.10  | 0.10%             | 2031-10-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPCO                           | Columbia Pipelines Operating Co LLC                                         | CUSIP: 19828TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11960000 | PA      | $12660497.20  | 0.12%             | 2030-08-15      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| COMCAST HOLDINGS CORP                             | Comcast Holdings Corp                                                       | CUSIP: 200300507<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26001000 | PA      | $15958633.77  | 0.15%             | 2029-10-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                          | Comision Federal de Electricidad                                            | CUSIP: 200447AH3<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     16177000 | PA      | $14707966.63  | 0.14%             | 2031-02-09      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                          | Comision Federal de Electricidad                                            | CUSIP: 200447AP5<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |      4000000 | PA      | $4104360.00   | 0.04%             | 2035-01-24      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST                     | Commonbond Student Loan Trust 2018-C-GS                                     | CUSIP: 20267XAA1<br>LEI: 549300O1CSZVJJTIR319 | Long             | ABS-O            | CORP              | US        |       259051 | PA      | $252630.92    | 0.00%             | 2046-02-25      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST                     | Commonbond Student Loan Trust 2021-B-GS                                     | CUSIP: 20268AAA0<br>LEI: 5493005PJR3MYTKJFJ48 | Long             | ABS-O            | CORP              | US        |      3218368 | PA      | $3005619.89   | 0.03%             | 2051-09-25      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST                     | Commonbond Student Loan Trust 2020-1                                        | CUSIP: 20268BAA8<br>LEI: 5493005PJR3MYTKJFJ48 | Long             | ABS-O            | CORP              | US        |       924073 | PA      | $852414.95    | 0.01%             | 2051-10-25      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| CIA DE MINAS BUENAVENTUR                          | Cia de Minas Buenaventura SAA                                               | CUSIP: 204448AB0<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |      4000000 | PA      | $4157160.00   | 0.04%             | 2032-02-04      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION SOFTWARE                            | Constellation Software Inc/Canada                                           | CUSIP: 21037XAC4<br>LEI: 549300B6PYHMCTDWQV29 | Long             | DBT              | CORP              | CA        |      9218000 | PA      | $9391667.12   | 0.09%             | 2029-02-16      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION GLO FNDG                            | Constellation Global Funding                                                | CUSIP: 21038N2A8<br>LEI: 254900OP9HLIALC2HZ12 | Long             | DBT              | CORP              | US        |     14797000 | PA      | $14693125.06  | 0.14%             | 2030-10-22      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                     | CoreCivic Inc                                                               | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |     12869000 | PA      | $13541019.18  | 0.13%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CORP FINANCIERA DE DESAR                          | Corp Financiera de Desarrollo SA                                            | CUSIP: 21987DAG9<br>LEI: 254900BOM7T4MG6T0J30 | Long             | DBT              | NUSS              | PE        |      8725000 | PA      | $9082637.75   | 0.09%             | 2029-04-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EquipmentShare                                    | Crockett Partners Equipment Co IIA LLC                                      | CUSIP: 22689LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8354579 | PA      | $8501541.51   | 0.08%             | 2031-01-20      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| CROSS Mortgage Trust                              | Cross 2023-H1 Mortgage Trust                                                | CUSIP: 22758CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4934326 | PA      | $4956817.95   | 0.05%             | 2068-03-25      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                              | Cross 2024-H4 Mortgage Trust                                                | CUSIP: 22758HAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8396653 | PA      | $8495503.27   | 0.08%             | 2069-07-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| Crossroads Asset Trust                            | Crossroads Asset Trust 2025-A                                               | CUSIP: 22767VAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6936006 | PA      | $6992813.18   | 0.07%             | 2032-02-20      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                                | Crown Americas LLC                                                          | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5115450.00   | 0.05%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE TOWERS LLC                           | Crown Castle Towers LLC                                                     | CUSIP: 22822RBH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2533000 | PA      | $2524724.18   | 0.02%             | 2028-07-15      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                  | Crown Castle Inc                                                            | CUSIP: 22822VBA8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |      4100000 | PA      | $4163509.00   | 0.04%             | 2028-01-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                  | Crown Castle Inc                                                            | CUSIP: 22822VBF7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |      8536000 | PA      | $8663271.76   | 0.08%             | 2029-09-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC.                                 | Crown Castle Inc                                                            | CUSIP: 22823QAM3<br>LEI: 54930012H97VSM0I2R19 | Long             | STIV             |  | US        |     13797000 | PA      | $13765190.25  | 0.13%             | 2026-01-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                            | Cushman & Wakefield US Borrower LLC                                         | CUSIP: 23166MAA1<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |     13774000 | PA      | $13847139.94  | 0.13%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DC Office Trust                                   | DC Office Trust 2019-MTC                                                    | CUSIP: 23312BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10082000 | PA      | $9154705.13   | 0.09%             | 2045-09-15      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                     | DTE Energy Co                                                               | CUSIP: 233331BJ5<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |      9605000 | PA      | $9770206.00   | 0.09%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                     | DTE Energy Co                                                               | CUSIP: 233331BN6<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |      5700000 | PA      | $5884509.00   | 0.06%             | 2030-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                     | DTE Energy Co                                                               | CUSIP: 233331BP1<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |      6155000 | PA      | $6153584.35   | 0.06%             | 2035-10-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                               | DT Auto Owner Trust 2021-3                                                  | CUSIP: 23344QAD1<br>LEI: 549300XVMF0FUK76JG97 | Long             | ABS-O            | CORP              | US        |      1352120 | PA      | $1347816.44   | 0.01%             | 2027-05-17      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| DXC TECHNOLOGY CO                                 | DXC Technology Co                                                           | CUSIP: 23355LAM8<br>LEI: 549300DOVZ3EDJB7O259 | Long             | DBT              | CORP              | US        |     11657000 | PA      | $10991851.58  | 0.11%             | 2028-09-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| DailyPay Securitization Trust                     | DailyPay Securitization Trust 2025-1                                        | CUSIP: 233824AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10075000 | PA      | $10132773.58  | 0.10%             | 2028-06-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| DailyPay Securitization Trust                     | DailyPay Securitization Trust 2025-1                                        | CUSIP: 233824AD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6015000 | PA      | $6079086.22   | 0.06%             | 2028-06-26      | Fixed         | 8.53%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                            | Daimler Truck Finance North America LLC                                     | CUSIP: 233853BJ8<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |     14700000 | PA      | $14845236.00  | 0.14%             | 2032-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                           | Darling Ingredients Inc                                                     | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |      3700000 | PA      | $3698594.00   | 0.04%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                           | Darling Ingredients Inc                                                     | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1016900.00   | 0.01%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer LLC                               | DataBank Issuer                                                             | CUSIP: 23802WAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16375000 | PA      | $16321561.66  | 0.16%             | 2054-01-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| DAVINCIRE HOLDINGS LTD                            | DaVinciRe Holdings Ltd                                                      | CUSIP: 23879AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      6475000 | PA      | $6658307.25   | 0.06%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust              | Deephaven Residential Mortgage Trust 2020-2                                 | CUSIP: 24380NAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4825000 | PA      | $4841212.48   | 0.05%             | 2065-05-25      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust              | Deephaven Residential Mortgage Trust 2021-1                                 | CUSIP: 24380VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       329645 | PA      | $313394.90    | 0.00%             | 2065-05-25      | Variable      | 0.72%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                            | Delek Logistics Partners LP / Delek Logistics Finance Corp                  | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2941000 | PA      | $2956499.07   | 0.03%             | 2028-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                            | Delek Logistics Partners LP / Delek Logistics Finance Corp                  | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18140000 | PA      | $18961560.60  | 0.18%             | 2029-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| DEPOSITORY TRUST & CLEAR                          | Depository Trust & Clearing Corp/The                                        | CUSIP: 249670AB6<br>LEI: MLDY5N6PZ58ZE60QU102 | Long             | DBT              | CORP              | US        |     12500000 | PA      | $12316000.00  | 0.12%             | 2026-06-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                  | Deutsche Bank AG/New York NY                                                | CUSIP: 25160PAH0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |      4760000 | PA      | $4682174.00   | 0.05%             | 2028-01-07      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Dext ABS                                          | Dext ABS 2023-2 LLC                                                         | CUSIP: 25216CAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       801463 | PA      | $805694.05    | 0.01%             | 2034-05-15      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| Diamond Infrastructure Funding LLC                | Diamond Infrastructure Funding LLC                                          | CUSIP: 25265LAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19150000 | PA      | $18611415.83  | 0.18%             | 2049-04-15      | Fixed         | 1.76%                 | No            |                  2 | On Loan: No      |
| Diamond Issuer LLC                                | Diamond Issuer LLC                                                          | CUSIP: 25267TAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10983000 | PA      | $10540097.35  | 0.10%             | 2051-11-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| DirecTV Financing LLC                             | DirecTV Financing LLC Term Loan                                             | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       408415 | PA      | $408529.81    | 0.00%             | 2027-08-02      | Floating      | 9.10%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                             | Directv Financing LLC / Directv Financing Co-Obligor Inc                    | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1591000 | PA      | $1599845.96   | 0.02%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                       | CUSIP: 25714PFA1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1009000000 | PA      | $17358288.14  | 0.17%             | 2036-06-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                               | Dominion Energy Inc                                                         | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     22500000 | PA      | $22324500.00  | 0.22%             | 2027-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                               | Dominion Energy Inc                                                         | CUSIP: 25746UDR7<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5194950.00   | 0.05%             | 2032-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                               | Dominion Energy Inc                                                         | CUSIP: 25746UDY2<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |      6112000 | PA      | $6185405.12   | 0.06%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD EUR                                                    | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $1408150.96   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED EUR / SOLD USD                                                    | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | XX        |            1 | NC      | $-30995.73    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD EUR                                                    | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-38436.56    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED EUR / SOLD USD                                                    | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | XX        |            1 | NC      | $50641.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Foresea Holding SA                                | Foresea Holding SA                                                          | CUSIP: 262051105<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |         1927 | NS      | $68312.15     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Foresea Holding SA                                | Foresea Holdings SA                                                         | CUSIP: 262051204<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |        17351 | NS      | $615092.95    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| FORESEA HOLDING SA                                | FORESEA Holding SA                                                          | CUSIP: 262051AA3<br>LEI: 254900BAD50AKYGIMV79 | Long             | DBT              | CORP              | LU        |       198293 | PA      | $195520.86    | 0.00%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                  | Duke Energy Corp                                                            | CUSIP: 26441CCJ2<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     11334000 | PA      | $11245254.78  | 0.11%             | 2035-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                        | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B1                       | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |     14224786 | PA      | $14271728.02  | 0.14%             | 2031-10-31      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                        | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B2                       | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |      5568812 | PA      | $5587189.05   | 0.05%             | 2031-10-31      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| ECAF LTD                                          | ECAF I Ltd                                                                  | CUSIP: 26827EAE5<br>LEI: 635400SSRNQERTYCWK57 | Long             | ABS-O            | CORP              | KY        |      4600060 | PA      | $2254029.41   | 0.02%             | 2040-06-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                          | Electricite de France SA                                                    | CUSIP: 268317AY0<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     12614000 | PA      | $13116289.48  | 0.13%             | 2029-04-22      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ENN CLEAN ENERGY                                  | ENN Clean Energy International Investment Ltd                               | CUSIP: 268733AA0<br>LEI: 3003009YZ3S5V395NR77 | Long             | DBT              | CORP              | VG        |      9524000 | PA      | $9481999.16   | 0.09%             | 2026-05-12      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                          | Eagle Funding Luxco Sarl                                                    | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |     29325000 | PA      | $29864873.25  | 0.29%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     10588000 | PA      | $11309360.44  | 0.11%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                | CUSIP: 279158AW9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |      4850000 | PA      | $4972947.50   | 0.05%             | 2032-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                            | Edgewell Personal Care Co                                                   | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |      9892000 | PA      | $9898231.96   | 0.10%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EDvestinU Private Education Loan Issue No. 1, LLC | EDvestinU Private Education Loan Issue No 3 LLC                             | CUSIP: 28166LAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12569560 | PA      | $11925633.16  | 0.12%             | 2045-11-25      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| EL PASO NATURAL GAS                               | El Paso Natural Gas Co LLC                                                  | CUSIP: 283695BQ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1989000 | PA      | $1845254.97   | 0.02%             | 2032-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EL PUERTO DE LIVERPOOL                            | El Puerto de Liverpool SAB de CV                                            | CUSIP: 283837AC6<br>LEI: 4469000001BO4JEXZL32 | Long             | DBT              | CORP              | MX        |     13175000 | PA      | $14038489.50  | 0.14%             | 2032-01-22      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Elanco Animal Health Incorporated                 | Elanco Animal Health Inc 2025 Term Loan B                                   | CUSIP: 28414BAJ5<br>LEI: 549300SHPNDCE059M934 | Long             | LON              | CORP              | US        |      1500000 | PA      | $1501560.00   | 0.01%             | 2032-10-31      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                          | Electricite de France SA                                                    | CUSIP: 28504DAF0<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     25825000 | PA      | $27077770.75  | 0.26%             | 2035-01-13      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ELEMENT FLEET MANAGEMENT                          | Element Fleet Management Corp                                               | CUSIP: 286181AH5<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |     17735000 | PA      | $17887521.00  | 0.17%             | 2026-06-26      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| ELEMENT FLEET MANAGEMENT                          | Element Fleet Management Corp                                               | CUSIP: 286181AK8<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |      3422000 | PA      | $3609183.40   | 0.03%             | 2028-12-04      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| ELEMENT FLEET MANAGEMENT                          | Element Fleet Management Corp                                               | CUSIP: 286181AM4<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |      5400000 | PA      | $5490828.00   | 0.05%             | 2027-03-13      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| EMERA INC                                         | Emera Inc                                                                   | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |     13999000 | PA      | $14081874.08  | 0.14%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EMPRESA GEN ELEC HAINA                            | Empresa Generadora de Electricidad Haina SA                                 | CUSIP: 29249FAA4<br>LEI: 549300Y36L5LRW5RH373 | Long             | DBT              | CORP              | DO        |     10800000 | PA      | $10641240.00  | 0.10%             | 2028-11-08      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                          | Energizer Holdings Inc 2025 Term Loan B                                     | CUSIP: 29267YAW2<br>LEI: 5493000D6NN0V57UME20 | Long             | LON              | CORP              | US        |      7345378 | PA      | $7339281.25   | 0.07%             | 2032-03-19      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                            | Energizer Holdings Inc                                                      | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |      7268000 | PA      | $7185144.80   | 0.07%             | 2028-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                            | Energizer Holdings Inc                                                      | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |      2000000 | PA      | $1917540.00   | 0.02%             | 2033-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                          | CUSIP: 29273RBA6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      1200000 | PA      | $1202856.00   | 0.01%             | 2066-11-01      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                          | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     22571000 | PA      | $22684532.13  | 0.22%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                          | CUSIP: 29273VAR1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     10520000 | PA      | $10688425.20  | 0.10%             | 2026-12-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                              | Enel Finance International NV                                               | CUSIP: 29278GAN8<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |     16900000 | PA      | $16069872.00  | 0.16%             | 2028-07-12      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                              | Enel Finance International NV                                               | CUSIP: 29278GAX6<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |      3819000 | PA      | $3889651.50   | 0.04%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                              | Enel Finance International NV                                               | CUSIP: 29278GBD9<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |      9739000 | PA      | $9990850.54   | 0.10%             | 2029-06-26      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                              | Enel Finance International NV                                               | CUSIP: 29278GBG2<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |      3998000 | PA      | $3983047.48   | 0.04%             | 2030-09-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ENSTAR GROUP LTD                                  | Enstar Group Ltd                                                            | CUSIP: 29359UAC3<br>LEI: 213800AMAL5QFXVUCN04 | Long             | DBT              | CORP              | BM        |     12701000 | PA      | $11404989.96  | 0.11%             | 2031-09-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ENTERGY TEXAS INC                                 | Entergy Texas Inc                                                           | CUSIP: 29365TAF1<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |      3000000 | PA      | $2960400.00   | 0.03%             | 2027-12-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ENTERGY TEXAS INC                                 | Entergy Texas Inc                                                           | CUSIP: 29365TAL8<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |      5866000 | PA      | $5764576.86   | 0.06%             | 2026-09-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                       | Equifax Inc                                                                 | CUSIP: 294429AT2<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |      9394000 | PA      | $8356902.40   | 0.08%             | 2031-09-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL                          | Equitable America Global Funding                                            | CUSIP: 29446Q2B8<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |      6049000 | PA      | $6164051.98   | 0.06%             | 2030-06-09      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL                          | Equitable America Global Funding                                            | CUSIP: 29446Q2F9<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |      3000000 | PA      | $3011850.00   | 0.03%             | 2028-12-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE                          | Equitable Financial Life Global Funding                                     | CUSIP: 29449WAB3<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |      4620000 | PA      | $4431596.40   | 0.04%             | 2027-08-27      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE                          | Equitable Financial Life Global Funding                                     | CUSIP: 29449WAT4<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |      8690000 | PA      | $8879268.20   | 0.09%             | 2030-03-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESAB CORP                                         | Esab Corp                                                                   | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |       970000 | PA      | $998411.30    | 0.01%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| EverBright Solar Trust                            | EverBright Solar Trust 2024-A                                               | CUSIP: 29977FAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10081703 | PA      | $9261268.57   | 0.09%             | 2054-06-22      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                             | Evergy Kansas Central Inc                                                   | CUSIP: 30036FAD3<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |      7843000 | PA      | $8009585.32   | 0.08%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EVERGY METRO                                      | Evergy Metro Inc                                                            | CUSIP: 30037DAB1<br>LEI: 1128SIJQ26096WL7IO82 | Long             | DBT              | CORP              | US        |      4663000 | PA      | $4742457.52   | 0.05%             | 2033-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| EVERGY MISSOURI WEST INC                          | Evergy Missouri West Inc                                                    | CUSIP: 30037EAC7<br>LEI: EZIFUDC0VSUS6T6LCG85 | Long             | DBT              | CORP              | US        |      4812000 | PA      | $4835819.40   | 0.05%             | 2035-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                 | Eversource Energy                                                           | CUSIP: 30040WAL2<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |      5332000 | PA      | $4821727.60   | 0.05%             | 2031-03-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                 | Eversource Energy                                                           | CUSIP: 30040WAT5<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |      5181000 | PA      | $5311613.01   | 0.05%             | 2028-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                 | Eversource Energy                                                           | CUSIP: 30040WAU2<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |      4950000 | PA      | $4999797.00   | 0.05%             | 2033-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                 | Eversource Energy                                                           | CUSIP: 30040WBB3<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |      3981000 | PA      | $3960657.09   | 0.04%             | 2030-12-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust               | Exeter Automobile Receivables Trust 2022-4                                  | CUSIP: 30166BAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1330863 | PA      | $1340846.93   | 0.01%             | 2028-12-15      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust               | Exeter Automobile Receivables Trust 2022-2                                  | CUSIP: 30166QAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3224394 | PA      | $3225247.30   | 0.03%             | 2028-07-17      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust               | Exeter Automobile Receivables Trust 2023-4                                  | CUSIP: 30166TAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2576075 | PA      | $2591465.84   | 0.03%             | 2028-08-15      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust               | Exeter Automobile Receivables Trust 2022-3                                  | CUSIP: 30166YAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5488447 | PA      | $5540856.40   | 0.05%             | 2028-09-15      | Fixed         | 6.76%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                          | F&G Annuities & Life Inc                                                    | CUSIP: 30190AAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16240000 | PA      | $16912336.00  | 0.16%             | 2029-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                            | Extra Space Storage LP                                                      | CUSIP: 30225VAR8<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |      1882000 | PA      | $1996312.68   | 0.02%             | 2031-01-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                                        | EZCORP Inc                                                                  | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |      4950000 | PA      | $5262691.50   | 0.05%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                                | F&G Global Funding                                                          | CUSIP: 30321L2A9<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |      7973000 | PA      | $7874692.91   | 0.08%             | 2026-06-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                                | F&G Global Funding                                                          | CUSIP: 30321L2C5<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |      3081000 | PA      | $2886712.14   | 0.03%             | 2028-09-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                                | F&G Global Funding                                                          | CUSIP: 30321L2J0<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |      5377000 | PA      | $5573851.97   | 0.05%             | 2030-01-16      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                   | Fair Isaac Corp                                                             | CUSIP: 303250AE4<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     20710000 | PA      | $20736715.90  | 0.20%             | 2026-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                   | Fair Isaac Corp                                                             | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     16087000 | PA      | $15875616.82  | 0.15%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                   | Fair Isaac Corp                                                             | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1025320.00   | 0.01%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC                          | FHF Trust 2023-1                                                            | CUSIP: 30331GAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       791342 | PA      | $796184.80    | 0.01%             | 2028-06-15      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| Farmer Mac Agricultural Real Estate Trust         | FARM 2024-1 Mortgage Trust                                                  | CUSIP: 30335JAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8602083 | PA      | $8370617.43   | 0.08%             | 2053-10-01      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC                          | FHF Issuer Trust 2024-3                                                     | CUSIP: 30339EAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5098863 | PA      | $5111632.18   | 0.05%             | 2030-11-15      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC                          | FHF Issuer Trust 2025-2                                                     | CUSIP: 30343DAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     27985000 | PA      | $28361440.51  | 0.27%             | 2030-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                            | Fairfax Financial Holdings Ltd                                              | CUSIP: 303901BF8<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |      4673000 | PA      | $4689635.88   | 0.05%             | 2030-04-29      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                            | Fairfax Financial Holdings Ltd                                              | CUSIP: 303901BL5<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |      3249000 | PA      | $3390721.38   | 0.03%             | 2032-08-16      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| FARM CREDIT BK OF TEXAS                           | Farm Credit Bank of Texas                                                   | CUSIP: 30767EAF6<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGA              | US        |      9500000 | PA      | $9764955.00   | 0.09%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fat Brands Fazoli's Native I, LLC                 | FAT Brands Fazoli's Native I LLC                                            | CUSIP: 31200BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10914785 | PA      | $10201680.67  | 0.10%             | 2051-07-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Non Gold Pool                                                   | CUSIP: 31288QGE4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4011897 | PA      | $3964310.70   | 0.04%             | 2048-09-01      | Floating      | 3.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Non Gold Pool                                                   | CUSIP: 31288QQ60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5652620 | PA      | $5322766.25   | 0.05%             | 2052-04-01      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Non Gold Pool                                                   | CUSIP: 31288QQG8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4326831 | PA      | $4134021.57   | 0.04%             | 2051-11-01      | Floating      | 1.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Non Gold Pool                                                   | CUSIP: 31288QQP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5294178 | PA      | $4976137.04   | 0.05%             | 2052-02-01      | Floating      | 1.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Non Gold Pool                                                   | CUSIP: 31288QTU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14625307 | PA      | $13323973.13  | 0.13%             | 2052-07-01      | Floating      | 2.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Non Gold Pool                                                   | CUSIP: 3128Q2LB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1848597 | PA      | $1912013.28   | 0.02%             | 2048-02-01      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANK                            | Federal Home Loan Banks                                                     | CUSIP: 3130AQT86<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |     22380000 | PA      | $18741459.60  | 0.18%             | 2037-02-18      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132DNQ30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7386454 | PA      | $6536170.00   | 0.06%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132DNXR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4541589 | PA      | $4581771.02   | 0.04%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132DNYX5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      6390788 | PA      | $6453657.41   | 0.06%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132DSW81<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31332796 | PA      | $26653250.73  | 0.26%             | 2054-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132DUGS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23333224 | PA      | $24029453.27  | 0.23%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132DWBH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31224167 | PA      | $25492869.21  | 0.25%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132DWD67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14161080 | PA      | $12586159.71  | 0.12%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132DWJL8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13848777 | PA      | $14076057.49  | 0.14%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132E0A93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     34071262 | PA      | $28980084.67  | 0.28%             | 2052-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132E0T85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     38679429 | PA      | $32902665.54  | 0.32%             | 2052-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132E0T93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    103461272 | PA      | $91889360.73  | 0.89%             | 2052-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3132XFUX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8425000 | PA      | $8555264.32   | 0.08%             | 2030-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3133KPFN3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2792964 | PA      | $2489510.02   | 0.02%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                            | CUSIP: 3133N3X25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11210377 | PA      | $8874523.57   | 0.09%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Non Gold Pool                                                   | CUSIP: 31342WA27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2928510 | PA      | $2901070.97   | 0.03%             | 2047-10-01      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae REMICS                                                           | CUSIP: 3136BRTQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13070775 | PA      | $13404396.06  | 0.13%             | 2035-03-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae REMICS                                                           | CUSIP: 3136BTAJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20107396 | PA      | $19896810.16  | 0.19%             | 2054-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae REMICS                                                           | CUSIP: 3136BXNP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28578811 | PA      | $27823396.31  | 0.27%             | 2055-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                | CUSIP: 3137BP7A1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     30998042 | PA      | $1210.78      | 0.00%             | 2026-03-25      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Whole Loan Securities Trust           | Freddie Mac Whole Loan Securities Trust                                     | CUSIP: 3137G1BM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       124482 | PA      | $123131.01    | 0.00%             | 2046-12-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                | CUSIP: 3137HAD29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     10518000 | PA      | $10816516.51  | 0.10%             | 2031-10-25      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                | CUSIP: 3137HAMP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7257000 | PA      | $7577075.79   | 0.07%             | 2031-06-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.  | Freddie Mac Multifamily Structured Pass Through Certificates                | CUSIP: 3137HBC77<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18483000 | PA      | $19168824.28  | 0.18%             | 2031-10-25      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac REMICS                                                          | CUSIP: 3137HFQ73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18370446 | PA      | $18207075.78  | 0.18%             | 2054-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac REMICS                                                          | CUSIP: 3137HFW92<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     27116483 | PA      | $26832181.35  | 0.26%             | 2054-08-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac REMICS                                                          | CUSIP: 3137HHH87<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21743141 | PA      | $21597878.06  | 0.21%             | 2054-11-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac REMICS                                                          | CUSIP: 3137HJSZ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18280139 | PA      | $18410907.59  | 0.18%             | 2055-02-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac REMICS                                                          | CUSIP: 3137HLKD3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     20324338 | PA      | $20527095.09  | 0.20%             | 2054-09-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac REMICS                                                          | CUSIP: 3137HMP20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21878252 | PA      | $21711391.89  | 0.21%             | 2055-08-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac REMICS                                                          | CUSIP: 3137HP2L6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     35819115 | PA      | $35595198.49  | 0.34%             | 2032-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140GTA26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8238051 | PA      | $8007733.24   | 0.08%             | 2046-06-01      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140GTAZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4429145 | PA      | $4316939.09   | 0.04%             | 2047-04-01      | Floating      | 3.04%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140J1RZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11169969 | PA      | $7959690.50   | 0.08%             | 2050-10-01      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140JBUK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6141413 | PA      | $5778427.71   | 0.06%             | 2051-12-01      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140JBUZ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9825979 | PA      | $8154146.71   | 0.08%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140JBVX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6282588 | PA      | $6030077.00   | 0.06%             | 2051-07-01      | Floating      | 1.93%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140K6DC6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3344935 | PA      | $3362297.72   | 0.03%             | 2048-03-01      | Floating      | 2.74%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140LBNF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15667101 | PA      | $10870627.55  | 0.10%             | 2051-03-01      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140MCBC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13687904 | PA      | $12404952.29  | 0.12%             | 2052-02-01      | Floating      | 1.84%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140MHSH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     47480620 | PA      | $40385718.55  | 0.39%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140N1T37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4316243 | PA      | $4320484.46   | 0.04%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140NXMK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29454000 | PA      | $30402238.25  | 0.29%             | 2030-02-01      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140QMN83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6816175 | PA      | $6477445.23   | 0.06%             | 2051-11-01      | Floating      | 1.53%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140QMRX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34942940 | PA      | $30920078.70  | 0.30%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140QNL83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22801060 | PA      | $19395727.81  | 0.19%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140QPJ24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2305138 | PA      | $2328952.50   | 0.02%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140XMY42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     25718837 | PA      | $21877735.39  | 0.21%             | 2052-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140XMZX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    113812710 | PA      | $101109494.39 | 0.98%             | 2052-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140XPM30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26531503 | PA      | $22569030.03  | 0.22%             | 2054-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140XPTP4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     25803588 | PA      | $21866393.02  | 0.21%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 3140XPXH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     19002047 | PA      | $16079897.78  | 0.16%             | 2052-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 31418EV80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7684475 | PA      | $7813012.43   | 0.08%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 31418EV98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6135346 | PA      | $6305420.96   | 0.06%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                             | CUSIP: 31418EW48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11804485 | PA      | $12134663.14  | 0.12%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FERGUSON ENTERPRISES INC                          | Ferguson Enterprises Inc                                                    | CUSIP: 31488VAB3<br>LEI: 2138003JYQMRP3SLX189 | Long             | DBT              | CORP              | US        |     11803000 | PA      | $11761571.47  | 0.11%             | 2031-03-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC                          | FHF Trust 2022-2                                                            | CUSIP: 31568EAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       464536 | PA      | $465747.23    | 0.00%             | 2027-12-15      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                | Ellington Financial Mortgage Trust 2022-1                                   | CUSIP: 31573CAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6901000 | PA      | $4942592.12   | 0.05%             | 2067-01-25      | Variable      | 3.86%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                | Ellington Financial Mortgage Trust 2019-2                                   | CUSIP: 31573TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       470430 | PA      | $458188.31    | 0.00%             | 2059-11-25      | Variable      | 2.74%                 | No            |                  2 | On Loan: No      |
| FIDELIS INSUR HLD LTD                             | Fidelis Insurance Holdings Ltd                                              | CUSIP: 31575FAA4<br>LEI: 549300CDMGCAGJQ7DX03 | Long             | DBT              | CORP              | BM        |      4409000 | PA      | $4360236.46   | 0.04%             | 2030-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL FINANCIAL                           | Fidelity National Financial Inc                                             | CUSIP: 31620RAK1<br>LEI: 549300CAZYIH39SYQ287 | Long             | DBT              | CORP              | US        |      5137000 | PA      | $4587289.63   | 0.04%             | 2031-03-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL                          | First American Financial Corp                                               | CUSIP: 31847RAG7<br>LEI: 549300B6VEZK3N0A1P55 | Long             | DBT              | CORP              | US        |      1457000 | PA      | $1409006.42   | 0.01%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL                          | First American Financial Corp                                               | CUSIP: 31847RAH5<br>LEI: 549300B6VEZK3N0A1P55 | Long             | DBT              | CORP              | US        |      2261000 | PA      | $1973332.97   | 0.02%             | 2031-08-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                     | FirstCash Inc                                                               | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |     17215000 | PA      | $17279556.25  | 0.17%             | 2030-01-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| First Investors Auto Owner Trust                  | First Investors Auto Owner Trust 2022-1                                     | CUSIP: 32057KAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5000000 | PA      | $5007091.65   | 0.05%             | 2029-06-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| First Republic Mortgage Trust                     | First Republic Mortgage Trust 2020-1                                        | CUSIP: 33616LAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    106807120 | PA      | $3030118.00   | 0.03%             | 2050-04-25      | Variable      | 1.24%                 | No            |                  2 | On Loan: No      |
| First Republic Mortgage Trust                     | First Republic Mortgage Trust 2020-1                                        | CUSIP: 33616LAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1382772 | PA      | $1273091.64   | 0.01%             | 2050-04-25      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| First Republic Mortgage Trust                     | First Republic Mortgage Trust 2020-1                                        | CUSIP: 33616LAV2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1325000 | PA      | $1197267.75   | 0.01%             | 2050-04-25      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| First Republic Mortgage Trust                     | First Republic Mortgage Trust 2020-1                                        | CUSIP: 33616LAX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       755000 | PA      | $521437.96    | 0.01%             | 2050-04-25      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                     | FirstCash Inc                                                               | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |      4927000 | PA      | $5131569.04   | 0.05%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FIVE CORNERS FND TR III                           | Five Corners Funding Trust III                                              | CUSIP: 33830GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7260000 | PA      | $7654072.80   | 0.07%             | 2033-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                        | Flagship Credit Auto Trust 2019-4                                           | CUSIP: 33845F106<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        26000 | PA      | $1612367.13   | 0.02%             | 2027-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                        | Flagship Credit Auto Trust 2022-1                                           | CUSIP: 33845VAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6120000 | PA      | $4459398.59   | 0.04%             | 2029-06-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                        | Flagship Credit Auto Trust 2020-4                                           | CUSIP: 33845XAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5858000 | PA      | $5802376.36   | 0.06%             | 2028-07-17      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                        | Flagship Credit Auto Trust 2019-3                                           | CUSIP: 33846A106<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        31000 | PA      | $1681547.93   | 0.02%             | 2026-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2017-1                                              | CUSIP: 33850BAT4<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |       128709 | PA      | $118720.41    | 0.00%             | 2047-03-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2018-3                                              | CUSIP: 33851JAV1<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |      4658895 | PA      | $4348393.24   | 0.04%             | 2048-05-25      | Variable      | 4.44%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2020-2                                              | CUSIP: 33851KBG0<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |     21237530 | PA      | $728855.05    | 0.01%             | 2050-08-25      | Variable      | 0.65%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2020-2                                              | CUSIP: 33851KBH8<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |      3639544 | PA      | $102259.53    | 0.00%             | 2050-08-25      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2020-2                                              | CUSIP: 33851KBZ8<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |       192799 | PA      | $168623.79    | 0.00%             | 2050-08-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2020-2                                              | CUSIP: 33851KCA2<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |       575756 | PA      | $501012.56    | 0.00%             | 2050-08-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2020-2                                              | CUSIP: 33851KCB0<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |       769566 | PA      | $450328.66    | 0.00%             | 2050-08-25      | Variable      | 3.34%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2019-2                                              | CUSIP: 33852BAQ8<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |      3310744 | PA      | $3019081.81   | 0.03%             | 2049-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2021-13INV                                          | CUSIP: 33853HBE0<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |      2444040 | PA      | $2032947.93   | 0.02%             | 2051-12-30      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2021-13INV                                          | CUSIP: 33853HBF7<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |       445549 | PA      | $361956.52    | 0.00%             | 2051-12-30      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2021-13INV                                          | CUSIP: 33853HBG5<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |      3885758 | PA      | $2699920.89   | 0.03%             | 2051-12-30      | Variable      | 3.22%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2021-13INV                                          | CUSIP: 33853HBM2<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |    147022479 | PA      | $1433145.72   | 0.01%             | 2051-12-30      | Variable      | 0.17%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2021-13INV                                          | CUSIP: 33853HBN0<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |     11116817 | PA      | $338112.44    | 0.00%             | 2051-12-30      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                           | Flagstar Mortgage Trust 2021-13INV                                          | CUSIP: 33853HBV2<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |     12154712 | PA      | $133084.38    | 0.00%             | 2051-12-30      | Variable      | 0.18%                 | No            |                  2 | On Loan: No      |
| Corpay Technologies Operating Company LLC         | Corpay Technologies Operating Company LLC Term Loan B5                      | CUSIP: 33903RAZ2<br>LEI: 549300FKKKZCXLK48427 | Long             | LON              | CORP              | US        |      9900000 | PA      | $9905346.00   | 0.10%             | 2028-04-28      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Corpay Technologies Operating Company LLC         | Corpay Technologies Operating Company LLC 2025 Term Loan B                  | CUSIP: 33903RBA6<br>LEI: 549300FKKKZCXLK48427 | Long             | LON              | CORP              | US        |     10000000 | PA      | $10002100.00  | 0.10%             | 2032-11-05      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| FLEX LTD                                          | Flex Ltd                                                                    | CUSIP: 33938XAB1<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |      4671000 | PA      | $4737047.94   | 0.05%             | 2030-05-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FLEX LTD                                          | Flex Ltd                                                                    | CUSIP: 33938XAE5<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |      3886000 | PA      | $4012955.62   | 0.04%             | 2028-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLEX LTD                                          | Flex Ltd                                                                    | CUSIP: 33938XAF2<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |      2662000 | PA      | $2714361.54   | 0.03%             | 2032-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FLOWERS FOODS INC                                 | Flowers Foods Inc                                                           | CUSIP: 343498AD3<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |     29063000 | PA      | $29157454.75  | 0.28%             | 2035-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FLOWSERVE CORPORATION                             | Flowserve Corp                                                              | CUSIP: 34354PAF2<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | DBT              | CORP              | US        |      3431000 | PA      | $3270429.20   | 0.03%             | 2030-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                              | Flutter Treasury DAC                                                        | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |      6000000 | PA      | $6086340.00   | 0.06%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fortiva Retail Credit Master Note Business Trust  | Fortiva Retail Credit Master Note Business Trust                            | CUSIP: 34962AAZ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22585000 | PA      | $22515673.08  | 0.22%             | 2031-01-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GROUP HOLDINGS                          | Fortitude Group Holdings LLC                                                | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |     10057000 | PA      | $10473661.51  | 0.10%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GLOBAL FUNDING                          | Fortitude Global Funding                                                    | CUSIP: 34967GAA2<br>LEI: 635400TKBOGEHNO5RT68 | Long             | DBT              | CORP              | US        |      7342000 | PA      | $7346184.94   | 0.07%             | 2028-10-06      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                          | Foundation Finance Trust 2021-1                                             | CUSIP: 35041LAA8<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |       784932 | PA      | $742179.85    | 0.01%             | 2041-05-15      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                          | Foundation Finance Trust 2021-1                                             | CUSIP: 35041LAD2<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      1186686 | PA      | $1168361.50   | 0.01%             | 2041-05-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                          | Foundation Finance Trust 2021-2                                             | CUSIP: 35042PAA8<br>LEI: 54930021B3TF4B4HKE86 | Long             | ABS-O            | CORP              | US        |       783758 | PA      | $745324.62    | 0.01%             | 2042-01-15      | Fixed         | 2.19%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                          | Foundation Finance Trust 2021-2                                             | CUSIP: 35042PAD2<br>LEI: 54930021B3TF4B4HKE86 | Long             | ABS-O            | CORP              | US        |      2804440 | PA      | $2809720.04   | 0.03%             | 2042-01-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2022-1               | CUSIP: 35563P7E3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     19826223 | PA      | $17148737.87  | 0.17%             | 2061-11-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2020-2               | CUSIP: 35563PQP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2180419 | PA      | $1985936.18   | 0.02%             | 2059-11-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2024-1               | CUSIP: 35563PR43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      9326817 | PA      | $7801160.64   | 0.08%             | 2063-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2020-3               | CUSIP: 35563PSE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26230669 | PA      | $21314818.16  | 0.21%             | 2060-05-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2024-2               | CUSIP: 35563PX46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13039687 | PA      | $11502021.33  | 0.11%             | 2064-05-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST                                | Seasoned Loans Structured Transaction Trust Series 2020-2                   | CUSIP: 35564CGQ4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      4608485 | PA      | $4294446.41   | 0.04%             | 2030-09-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freedom Financial                                 | FREED ABS Trust 2022-3FP                                                    | CUSIP: 35634EAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1388033 | PA      | $1389807.25   | 0.01%             | 2029-08-20      | Fixed         | 7.36%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                           | GA Global Funding Trust                                                     | CUSIP: 36143L2A2<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |       610000 | PA      | $609408.30    | 0.01%             | 2026-01-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                           | GA Global Funding Trust                                                     | CUSIP: 36143L2G9<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |      2971000 | PA      | $2914224.19   | 0.03%             | 2027-01-06      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                           | GA Global Funding Trust                                                     | CUSIP: 36143L2N4<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |      9223000 | PA      | $9253528.13   | 0.09%             | 2027-09-23      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                           | GA Global Funding Trust                                                     | CUSIP: 36143L2V6<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |      6500000 | PA      | $6424080.00   | 0.06%             | 2030-09-18      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                 | GEO Group Inc/The                                                           | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      8975000 | PA      | $9445738.75   | 0.09%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| GCAT                                              | GCAT 2021-CM2 Trust                                                         | CUSIP: 36167AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13667589 | PA      | $13045307.13  | 0.13%             | 2066-08-25      | Variable      | 2.35%                 | No            |                  2 | On Loan: No      |
| GCAT                                              | GCAT 2021-NQM1 Trust                                                        | CUSIP: 36167TAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6112000 | PA      | $4794946.63   | 0.05%             | 2066-01-25      | Variable      | 2.32%                 | No            |                  2 | On Loan: No      |
| GCAT                                              | GCAT 2019-NQM3 Trust                                                        | CUSIP: 36167VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       305980 | PA      | $298798.77    | 0.00%             | 2059-11-25      | Variable      | 3.69%                 | No            |                  2 | On Loan: No      |
| GCAT                                              | GCAT 2021-CM1 Trust                                                         | CUSIP: 36168AAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1901350 | PA      | $1834400.14   | 0.02%             | 2065-04-25      | Variable      | 2.47%                 | No            |                  2 | On Loan: No      |
| GCAT                                              | GCAT 2021-NQM4 Trust                                                        | CUSIP: 36168HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3071788 | PA      | $2596879.24   | 0.03%             | 2066-08-25      | Variable      | 1.09%                 | No            |                  2 | On Loan: No      |
| GCAT                                              | GCAT 2023-NQM4 Trust                                                        | CUSIP: 36171FAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15935159 | PA      | $15274957.19  | 0.15%             | 2067-05-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                          | CUSIP: 36179W7K8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    159900231 | PA      | $143904991.59 | 1.39%             | 2052-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                          | CUSIP: 36179WFH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     20333302 | PA      | $18314313.13  | 0.18%             | 2051-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Ginnie Mae II Pool                                                          | CUSIP: 36179WR34<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     90264513 | PA      | $81259810.23  | 0.78%             | 2051-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GABELLI DVD & INC TR                              | Gabelli Dividend & Income Trust/The                                         | CUSIP: 36242H872<br>LEI: 549300082N1MHBT8NI60 | Long             | EP               | CORP              | US        |          864 | NS      | $21060000.00  | 0.20%             |  |  |  | No            |                  3 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KAN8<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |       787738 | PA      | $127036.00    | 0.00%             | 2050-10-25      | Variable      | 3.39%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KAQ1<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      9431985 | PA      | $1305648.92   | 0.01%             | 2050-10-25      | Variable      | 2.91%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KAU2<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |     34283954 | PA      | $342.84       | 0.00%             | 2050-10-25      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KAV0<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      1699856 | PA      | $36021.64     | 0.00%             | 2050-10-25      | Variable      | 0.41%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KAX6<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      1829874 | PA      | $80092.12     | 0.00%             | 2050-10-25      | Variable      | 0.92%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KBN7<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      1169228 | PA      | $1030075.12   | 0.01%             | 2050-10-25      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KBP2<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      1171996 | PA      | $1046317.53   | 0.01%             | 2050-10-25      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KBQ0<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      2932234 | PA      | $2091156.53   | 0.02%             | 2050-10-25      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KBT4<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |     13340503 | PA      | $211326.90    | 0.00%             | 2050-10-25      | Variable      | 0.33%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2020-INV1                               | CUSIP: 36258KBU1<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |     52716161 | PA      | $592350.42    | 0.01%             | 2050-10-25      | Variable      | 0.19%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Corp Trust 2020-PJ3                           | CUSIP: 36258WAN2<br>LEI: 254900X1ABPQ6D4G6D07 | Long             | ABS-MBS          | CORP              | US        |      1996614 | PA      | $262570.75    | 0.00%             | 2050-10-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                        | GLS Auto Receivables Issuer Trust 2021-4                                    | CUSIP: 36263DAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9169382 | PA      | $9116451.34   | 0.09%             | 2027-10-15      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                          | Boost Newco Borrower LLC                                                    | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |      8000000 | PA      | $8503120.00   | 0.08%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2024-RPL2                               | CUSIP: 36269MAA9<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      5446837 | PA      | $5344586.92   | 0.05%             | 2061-07-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                        | GLS Auto Receivables Issuer Trust 2025-4                                    | CUSIP: 36273HAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7603000 | PA      | $7613620.86   | 0.07%             | 2028-10-16      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2023-CCM1                               | CUSIP: 362918AA2<br>LEI: 254900X1ABPQ6D4G6D07 | Long             | ABS-MBS          | CORP              | US        |      8073101 | PA      | $8058391.96   | 0.08%             | 2053-08-25      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2023-PJ2                                | CUSIP: 362938AG7<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      5916557 | PA      | $5969486.42   | 0.06%             | 2053-05-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust               | GS Mortgage-Backed Securities Trust 2024-RPL4                               | CUSIP: 362948AA9<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      4840710 | PA      | $4763773.18   | 0.05%             | 2061-09-25      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                            | Galaxy Pipeline Assets Bidco Ltd                                            | CUSIP: 36321PAA8<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |      3288893 | PA      | $3208742.68   | 0.03%             | 2027-09-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                            | Galaxy Pipeline Assets Bidco Ltd                                            | CUSIP: 36321PAB6<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |      6630000 | PA      | $5859262.50   | 0.06%             | 2036-03-31      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                            | Galaxy Pipeline Assets Bidco Ltd                                            | CUSIP: 36321PAD2<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |     16822511 | PA      | $15240017.75  | 0.15%             | 2034-03-31      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                       | Gartner Inc                                                                 | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |      3749000 | PA      | $3737565.55   | 0.04%             | 2028-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                       | Gartner Inc                                                                 | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |      7155000 | PA      | $6906220.65   | 0.07%             | 2029-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| GEN LUX SARL/GEN USA INC                          | Genpact Luxembourg SARL/Genpact USA Inc                                     | CUSIP: 37190AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |      1626000 | PA      | $1613983.86   | 0.02%             | 2026-04-10      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| GEN LUX SARL/GEN USA INC                          | Genpact Luxembourg SARL/Genpact USA Inc                                     | CUSIP: 37190AAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |      4424000 | PA      | $4613966.56   | 0.04%             | 2029-06-04      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS CO                                  | Genuine Parts Co                                                            | CUSIP: 372460AF2<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |      8613000 | PA      | $8757009.36   | 0.08%             | 2029-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| GENPACT UK/USA INC                                | Genpact UK Finco plc / Genpact USA Inc                                      | CUSIP: 37256EAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |      3964000 | PA      | $3962612.60   | 0.04%             | 2030-11-18      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Glebe Funding Trust                               | Glebe Funding Trust 2024-1/The                                              | CUSIP: 37735RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25657833 | PA      | $25895170.23  | 0.25%             | 2028-11-29      | Variable      | 8.10%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                               | Global Payments Inc                                                         | CUSIP: 37940XAE2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |      1401000 | PA      | $1394401.29   | 0.01%             | 2026-03-01      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                               | Global Payments Inc                                                         | CUSIP: 37940XAN2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |      4441000 | PA      | $4544564.12   | 0.04%             | 2029-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                               | Global Payments Inc                                                         | CUSIP: 37940XAV4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     12244000 | PA      | $12268977.76  | 0.12%             | 2028-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                           | Global Partners LP / GLP Finance Corp                                       | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2735000 | PA      | $2786390.65   | 0.03%             | 2033-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| GLOBE LIFE INC                                    | Globe Life Inc                                                              | CUSIP: 37959EAC6<br>LEI: 5493001JFHKQOPP6XA71 | Long             | DBT              | CORP              | US        |      7582000 | PA      | $7966028.30   | 0.08%             | 2034-09-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC FIN CO                            | Global Atlantic Fin Co                                                      | CUSIP: 37959GAA5<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |      7275000 | PA      | $7162164.75   | 0.07%             | 2029-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                 | CUSIP: 38141GYH1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      3687000 | PA      | $3693304.77   | 0.04%             | 2027-09-10      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Goldman Home Improvement Trust Issuer Trust       | Goldman Home Improvement Trust 2021-GRN2 Issuer Trust                       | CUSIP: 38149XAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1256649 | PA      | $1235008.40   | 0.01%             | 2051-06-25      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| Goldman Home Improvement Trust Issuer Trust       | Goldman Home Improvement Trust 2021-GRN2 Issuer Trust                       | CUSIP: 38149XAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        41500 | PA      | $1706116.46   | 0.02%             | 2051-06-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Home Improvement Trust Issuer Trust       | Goldman Home Improvement Trust 2022-GRN1 Issuer Trust                       | CUSIP: 38150YAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       876216 | PA      | $877017.62    | 0.01%             | 2052-06-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Goodgreen Trust                                   | Goodgreen 2021-1 Trust                                                      | CUSIP: 38217UAA0<br>LEI: 549300X0P2BXCQULUH20 | Long             | ABS-O            | CORP              | US        |     14723586 | PA      | $12145960.36  | 0.12%             | 2056-10-15      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Improvement Loan Trust  | GoodLeap Sustainable Home Solutions Trust 2021-3                            | CUSIP: 382371AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1659839 | PA      | $1269875.05   | 0.01%             | 2048-05-20      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Improvement Loan Trust  | GoodLeap Sustainable Home Solutions Trust 2021-3                            | CUSIP: 382371AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3895548 | PA      | $1613684.53   | 0.02%             | 2048-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Improvement Loan Trust  | GoodLeap Sustainable Home Solutions Trust 2021-4                            | CUSIP: 38237GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9313834 | PA      | $7713546.51   | 0.07%             | 2048-07-20      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Improvement Loan Trust  | GoodLeap Sustainable Home Solutions Trust 2021-5                            | CUSIP: 38237HAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12238306 | PA      | $10201401.99  | 0.10%             | 2048-10-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Improvement Loan Trust  | GoodLeap Sustainable Home Solutions Trust 2022-1                            | CUSIP: 38237JAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14573545 | PA      | $12998251.27  | 0.13%             | 2049-01-20      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| GoTo Group Inc                                    | GoTo Group Inc 2024 First Out Term Loan                                     | CUSIP: 38349FAC0<br>LEI: 549300D12V5KRBV00592 | Long             | LON              | CORP              | US        |      2104776 | PA      | $1862727.00   | 0.02%             | 2028-04-28      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| GoTo Group Inc                                    | GoTo Group Inc 2024 Second Out Term Loan                                    | CUSIP: 38349FAD8<br>LEI: 549300D12V5KRBV00592 | Long             | LON              | CORP              | US        |      2906595 | PA      | $1121102.77   | 0.01%             | 2028-04-28      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| GOTO GROUP INC                                    | GoTo Group Inc                                                              | CUSIP: 38349YAA3<br>LEI: 549300D12V5KRBV00592 | Long             | DBT              | CORP              | US        |      2222728 | PA      | $1871270.25   | 0.02%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOTO GROUP INC                                    | GoTo Group Inc                                                              | CUSIP: 38349YAB1<br>LEI: 549300D12V5KRBV00592 | Long             | DBT              | CORP              | US        |      3069481 | PA      | $1118703.05   | 0.01%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIN DEPT GOVT SHARJAH                             | Finance Department Government of Sharjah                                    | CUSIP: 38381CAC6<br>LEI: 254900ZNL8O3F1CLJO24 | Long             | DBT              | NUSS              | AE        |     15632000 | PA      | $13873400.00  | 0.13%             | 2033-03-10      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                    | CUSIP: 38381ND39<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17685644 | PA      | $18607239.28  | 0.18%             | 2055-07-20      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                    | CUSIP: 38381QG96<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     23836292 | PA      | $23923767.91  | 0.23%             | 2065-03-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                    | CUSIP: 38382NKQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8843205 | PA      | $6913523.22   | 0.07%             | 2051-02-20      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                    | CUSIP: 38383BF98<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     30725941 | PA      | $30332429.03  | 0.29%             | 2055-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                    | CUSIP: 38385FJQ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     14434997 | PA      | $14282174.47  | 0.14%             | 2054-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Gracie Point International Funding                | GRACIE POINT INTERNATIONAL FUNDING 2023-2                                   | CUSIP: 38410JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1632297 | PA      | $1633853.91   | 0.02%             | 2027-03-01      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                          | Graphic Packaging International LLC                                         | CUSIP: 38869AAB3<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |      7233000 | PA      | $7004581.86   | 0.07%             | 2028-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                          | Graphic Packaging International LLC                                         | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |      4917000 | PA      | $4696374.21   | 0.05%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                          | Graphic Packaging International LLC                                         | CUSIP: 38869AAE7<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |      5980000 | PA      | $6082198.20   | 0.06%             | 2032-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                          | Greensaif Pipelines Bidco Sarl                                              | CUSIP: 39541EAD5<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     10000000 | PA      | $10458000.00  | 0.10%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust            | GreenSky Home Improvement Trust 2024-1                                      | CUSIP: 39571MAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       831330 | PA      | $837040.13    | 0.01%             | 2059-06-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust            | GreenSky Home Improvement Trust 2024-1                                      | CUSIP: 39571MAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4135168 | PA      | $4306869.32   | 0.04%             | 2059-06-25      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust            | GreenSky Home Improvement Issuer Trust 2025-2                               | CUSIP: 39571VAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3003446 | PA      | $3013755.02   | 0.03%             | 2060-06-25      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust            | GreenSky Home Improvement Issuer Trust 2024-2                               | CUSIP: 39571XAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2417312 | PA      | $2425347.36   | 0.02%             | 2059-10-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GREYSTAR REAL ESTATE PAR                          | Greystar Real Estate Partners LLC                                           | CUSIP: 39807UAD8<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |      2490000 | PA      | $2624908.20   | 0.03%             | 2030-09-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Estate Notes            | Greystone CRE Notes 2021-FL3 Ltd                                            | CUSIP: 39809PAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1105579 | PA      | $1104887.98   | 0.01%             | 2039-07-15      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited   | HOMES 2024-NQM1 Trust                                                       | CUSIP: 40390TAA8<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |      7401116 | PA      | $7463258.63   | 0.07%             | 2069-07-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                 | HSBC Holdings PLC                                                           | CUSIP: 404280BT5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |      3000000 | PA      | $3027150.00   | 0.03%             | 2029-06-19      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                 | HSBC Holdings PLC                                                           | CUSIP: 404280DF3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |      1370000 | PA      | $1381521.70   | 0.01%             | 2028-06-09      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                 | HSBC Holdings PLC                                                           | CUSIP: 404280EK1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |      2000000 | PA      | $2008780.00   | 0.02%             | 2028-11-19      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                 | HSBC Holdings PLC                                                           | CUSIP: 404280EN5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |      3500000 | PA      | $3610670.00   | 0.03%             | 2030-11-19      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| HARLEY-DAVIDSON FINL SER                          | Harley-Davidson Financial Services Inc                                      | CUSIP: 41283LBA2<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |     15000000 | PA      | $14811750.00  | 0.14%             | 2027-02-14      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Harvest SBA Loan Trust                            | Harvest SBA Loan Trust 2024-1                                               | CUSIP: 41756NAA7<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |     10959901 | PA      | $11065946.35  | 0.11%             | 2051-12-25      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| harvest commercial capital loan trust             | Harvest Commercial Capital Loan Trust 2024-1                                | CUSIP: 417927AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17787138 | PA      | $18226778.66  | 0.18%             | 2056-10-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN ELEC CO                                  | Hawaiian Electric Co Inc                                                    | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |       998000 | PA      | $1010694.56   | 0.01%             | 2033-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC                              | Hercules Capital Inc                                                        | CUSIP: 427096AH5<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |     12212000 | PA      | $12035292.36  | 0.12%             | 2026-09-16      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC                              | Hercules Capital Inc                                                        | CUSIP: 427096AJ1<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |     13651000 | PA      | $13457019.29  | 0.13%             | 2027-01-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HERO Funding Trust                                | HERO Funding Trust 2017-2                                                   | CUSIP: 42771LAB8<br>LEI: 549300Z5C0ID42MSJA91 | Long             | ABS-O            | CORP              | US        |       642909 | PA      | $591168.44    | 0.01%             | 2048-09-20      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                  | Hewlett Packard Enterprise Co                                               | CUSIP: 42824CBZ1<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |      9000000 | PA      | $9005670.00   | 0.09%             | 2028-09-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| HIGHMARK INC                                      | Highmark Inc                                                                | CUSIP: 431116AD4<br>LEI: 549300B6868ZXXEB2Y57 | Long             | DBT              | CORP              | US        |     18630000 | PA      | $18421344.00  | 0.18%             | 2026-05-10      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                      | Hilton Grand Vacations Trust 2019-A                                         | CUSIP: 43284HAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       383585 | PA      | $382380.54    | 0.00%             | 2033-07-25      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                       | Hologic Inc                                                                 | CUSIP: 436440AM3<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |      6677000 | PA      | $6675864.91   | 0.06%             | 2028-02-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                       | Hologic Inc                                                                 | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |      7280000 | PA      | $7175168.00   | 0.07%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Homeward Opportunities Fund I Trust               | Homeward Opportunities Fund Trust 2024-RTL1                                 | CUSIP: 43789FAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     22320000 | PA      | $22342351.25  | 0.22%             | 2029-07-25      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| HORACE MANN EDUCATORS CO                          | Horace Mann Educators Corp                                                  | CUSIP: 440327AL8<br>LEI: 254900G5YAV3A2YK8T32 | Long             | DBT              | CORP              | US        |      6000000 | PA      | $6427260.00   | 0.06%             | 2028-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HORACE MANN EDUCATORS CO                          | Horace Mann Educators Corp                                                  | CUSIP: 440327AM6<br>LEI: 254900G5YAV3A2YK8T32 | Long             | DBT              | CORP              | US        |      7908000 | PA      | $7844973.24   | 0.08%             | 2030-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                          | Host Hotels & Resorts LP                                                    | CUSIP: 44107TBE5<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              |  | US        |      2160000 | PA      | $2161641.60   | 0.02%             | 2028-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                      | Hudson Yards 2019-55HY Mortgage Trust                                       | CUSIP: 44421MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5870000 | PA      | $5530954.73   | 0.05%             | 2041-12-10      | Variable      | 2.94%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                        | Humana Inc                                                                  | CUSIP: 444859CA8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |      6569000 | PA      | $6786959.42   | 0.07%             | 2031-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                          | Huntington Ingalls Industries Inc                                           | CUSIP: 446413AL0<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |       726000 | PA      | $718246.32    | 0.01%             | 2027-12-01      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                     | CUSIP: 44891ABG1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      1930000 | PA      | $1907631.30   | 0.02%             | 2027-02-10      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                     | CUSIP: 44891ACB1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      3000000 | PA      | $3009600.00   | 0.03%             | 2026-03-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                     | CUSIP: 44891ACR6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      3000000 | PA      | $3174120.00   | 0.03%             | 2029-01-16      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                     | CUSIP: 44891ACX3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      4750000 | PA      | $4816785.00   | 0.05%             | 2027-03-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                     | CUSIP: 44891ADA2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      5400000 | PA      | $5431968.00   | 0.05%             | 2026-06-24      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                     | CUSIP: 44891ADQ7<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      6916000 | PA      | $7079494.24   | 0.07%             | 2030-03-27      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| IMC Financing LLC                                 | IMC Financing LLC Term Loan B                                               | CUSIP: 44967NAB4<br>LEI: 724500MHXKWDKAGMOW56 | Long             | LON              | CORP              | NL        |       995000 | PA      | $1001845.60   | 0.01%             | 2032-06-18      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                         | IQVIA Inc                                                                   | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $4997100.00   | 0.05%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLUMINA INC                                      | Illumina Inc                                                                | CUSIP: 452327AQ2<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |      2902000 | PA      | $2910531.88   | 0.03%             | 2026-09-09      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ILLUMINA INC                                      | Illumina Inc                                                                | CUSIP: 452327AR0<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |      9649000 | PA      | $9744911.06   | 0.09%             | 2030-12-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Imagefirst Holdings LLC                           | Imagefirst Holdings LLC 2025 Term Loan B                                    | CUSIP: 45249TAR3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     19850250 | PA      | $19837942.84  | 0.19%             | 2032-03-12      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                           | Imperial Brands Finance PLC                                                 | CUSIP: 45262BAF0<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |      2000000 | PA      | $2057580.00   | 0.02%             | 2027-07-27      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                           | Imperial Brands Finance PLC                                                 | CUSIP: 45262BAG8<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |     22500000 | PA      | $23306850.00  | 0.22%             | 2030-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                 | Imperial Fund Mortgage Trust 2021-NQM3                                      | CUSIP: 452762AF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5408000 | PA      | $4097603.74   | 0.04%             | 2056-11-25      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                 | Imperial Fund Mortgage Trust 2022-NQM7                                      | CUSIP: 452763AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7235568 | PA      | $7226544.97   | 0.07%             | 2067-11-25      | Variable      | 7.37%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                 | Imperial Fund Mortgage Trust 2022-NQM1                                      | CUSIP: 452766AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12533777 | PA      | $11600993.31  | 0.11%             | 2067-02-25      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                 | Imperial Fund Mortgage Trust 2021-NQM4                                      | CUSIP: 45276JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3343794 | PA      | $2936980.81   | 0.03%             | 2057-01-25      | Variable      | 2.09%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                 | Imperial Fund Mortgage Trust 2022-NQM4                                      | CUSIP: 45276NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10226305 | PA      | $10192269.79  | 0.10%             | 2067-06-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                 | Imperial Fund Mortgage Trust 2022-NQM4                                      | CUSIP: 45276NAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3097511 | PA      | $3086506.60   | 0.03%             | 2067-06-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                 | Imperial Fund Mortgage Trust 2022-NQM2                                      | CUSIP: 45276PAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15600000 | PA      | $11792933.88  | 0.11%             | 2067-03-25      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                 | Imperial Fund Mortgage Trust 2022-NQM6                                      | CUSIP: 45276RAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10954856 | PA      | $10936376.74  | 0.11%             | 2067-10-25      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| PRA HEALTH SCIENCES INC                           | PRA Health Sciences Inc                                                     | CUSIP: 45569KAA1<br>LEI: 549300R1HR1VWWHIAK47 | Long             | DBT              | CORP              | US        |      5402000 | PA      | $5359270.18   | 0.05%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| INDUSTRIALIZADORA INTEGRAL DEL                    | INDUSTRIALIZADORA INTEGRAL DEL                                              | CUSIP: 45646HAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     15000000 | PA      | $15207000.00  | 0.15%             | 2031-11-26      | Fixed         | 9.25%                 | No            |                  3 | On Loan: No      |
| INSIGHT ENTERPRS                                  | Insight Enterprises Inc                                                     | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |      4700000 | PA      | $4829767.00   | 0.05%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Instar Leasing III, LLC                           | InStar Leasing III LLC                                                      | CUSIP: 45783NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3908726 | PA      | $3722817.78   | 0.04%             | 2054-02-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Instar Leasing III, LLC                           | InStar Leasing III LLC                                                      | CUSIP: 45783NAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2628926 | PA      | $2480836.50   | 0.02%             | 2054-02-15      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| INTACT FINANCIAL CORP                             | Intact Financial Corp                                                       | CUSIP: 45823TAL0<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | DBT              | CORP              | CA        |      5922000 | PA      | $6117958.98   | 0.06%             | 2032-09-22      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                         | IQVIA Inc                                                                   | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |      1900000 | PA      | $1900418.00   | 0.02%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                         | IQVIA Inc                                                                   | CUSIP: 46266TAC2<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5155200.00   | 0.05%             | 2028-05-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Iron Mountain Inc                                 | Iron Mountain Inc 2023 Term Loan B                                          | CUSIP: 46284NAV1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | LON              |  | US        |      4962025 | PA      | $4955822.78   | 0.05%             | 2031-01-31      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                 | Iron Mountain Inc                                                           | CUSIP: 46284VAF8<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      2000000 | PA      | $1972580.00   | 0.02%             | 2029-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                 | Iron Mountain Inc                                                           | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      4875000 | PA      | $4814647.50   | 0.05%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                 | Iron Mountain Inc                                                           | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      7985000 | PA      | $8203789.00   | 0.08%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INFO MGMT                           | Iron Mountain Information Management Services Inc                           | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |      6085000 | PA      | $5802777.70   | 0.06%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP                                 | ITC Holdings Corp                                                           | CUSIP: 465685AQ8<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |      1742000 | PA      | $1644169.28   | 0.02%             | 2030-05-14      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP                                 | ITC Holdings Corp                                                           | CUSIP: 465685AR6<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |      4910000 | PA      | $4974124.60   | 0.05%             | 2027-09-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP                                 | ITC Holdings Corp                                                           | CUSIP: 465685AS4<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |     13817000 | PA      | $14259973.02  | 0.14%             | 2033-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP                                 | ITC Holdings Corp                                                           | CUSIP: 465685AT2<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |     21000000 | PA      | $21908250.00  | 0.21%             | 2034-05-09      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2017-5                                             | CUSIP: 46590YAH7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      3073715 | PA      | $2374094.13   | 0.02%             | 2048-10-26      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Wealth Management                     | JPMorgan Chase Bank NA - JPMWM                                              | CUSIP: 46591HBK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3547421 | PA      | $3529424.24   | 0.03%             | 2051-03-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, NA - CACLN                   | JPMorgan Chase Bank NA - CACLN                                              | CUSIP: 46591HBW9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       645668 | PA      | $625143.80    | 0.01%             | 2028-09-25      | Fixed         | 28.35%                | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2019-8                                             | CUSIP: 46591KBW2<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      3025503 | PA      | $2802974.90   | 0.03%             | 2050-03-25      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-LTV1                                          | CUSIP: 46591NBW6<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      2543735 | PA      | $2271615.73   | 0.02%             | 2050-06-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-7                                             | CUSIP: 46591XCK9<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       572379 | PA      | $498706.01    | 0.00%             | 2051-01-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-7                                             | CUSIP: 46591XCL7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       400404 | PA      | $241063.80    | 0.00%             | 2051-01-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-7                                             | CUSIP: 46591XCM5<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       581120 | PA      | $301474.72    | 0.00%             | 2051-01-25      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-3                                             | CUSIP: 46592ABL7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      7421482 | PA      | $37451.77     | 0.00%             | 2050-08-25      | Variable      | 0.13%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2025-CCM1                                          | CUSIP: 46593MAE7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |     20131251 | PA      | $20195108.20  | 0.19%             | 2055-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2022-LTV1                                          | CUSIP: 465976AA6<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |     14467952 | PA      | $12925343.96  | 0.12%             | 2052-07-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | J.P. Morgan Mortgage Trust 2023-1                                           | CUSIP: 465978AF1<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      5428261 | PA      | $5476822.00   | 0.05%             | 2053-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2015-4                                             | CUSIP: 46644VBT2<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       830166 | PA      | $608355.83    | 0.01%             | 2045-06-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                         | CUSIP: 46647PAF3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      3314000 | PA      | $3295507.88   | 0.03%             | 2028-05-01      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                         | CUSIP: 46647PBW5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      1896000 | PA      | $1890596.40   | 0.02%             | 2027-02-04      | Fixed         | 1.04%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust     | J.P. Morgan Chase Commercial Mortgage Securities Trust 2025-BHR5            | CUSIP: 46649WAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       917240 | PA      | $918775.36    | 0.01%             | 2040-03-15      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust     | J.P. Morgan Chase Commercial Mortgage Securities Trust 2025-BHR5            | CUSIP: 46649WAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8240000 | PA      | $8249501.96   | 0.08%             | 2040-03-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-4                                             | CUSIP: 46652FAE0<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      6695140 | PA      | $165078.72    | 0.00%             | 2050-11-25      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-4                                             | CUSIP: 46652FBD1<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1476869 | PA      | $70259.68     | 0.00%             | 2050-11-25      | Floating      | 1.18%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-4                                             | CUSIP: 46652FBQ2<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |     24729435 | PA      | $50260.10     | 0.00%             | 2050-11-25      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-4                                             | CUSIP: 46652FBS8<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       684160 | PA      | $120602.08    | 0.00%             | 2050-11-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-4                                             | CUSIP: 46652FBT6<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1579019 | PA      | $42749.42     | 0.00%             | 2050-11-25      | Variable      | 0.55%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-4                                             | CUSIP: 46652FCD0<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1198491 | PA      | $1050316.80   | 0.01%             | 2050-11-25      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-4                                             | CUSIP: 46652FCE8<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       552685 | PA      | $434032.78    | 0.00%             | 2050-11-25      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2020-4                                             | CUSIP: 46652FCF5<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1054996 | PA      | $563648.03    | 0.01%             | 2050-11-25      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2021-11                                            | CUSIP: 46654KCG0<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      2203980 | PA      | $1726325.02   | 0.02%             | 2052-01-25      | Variable      | 3.02%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2021-11                                            | CUSIP: 46654KCH8<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      2506435 | PA      | $1333979.77   | 0.01%             | 2052-01-25      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2022-3                                             | CUSIP: 46654UCW3<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      2521731 | PA      | $1998905.18   | 0.02%             | 2052-08-25      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2022-3                                             | CUSIP: 46654UCX1<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1604406 | PA      | $797092.52    | 0.01%             | 2052-08-25      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2022-3                                             | CUSIP: 46654UCY9<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1460644 | PA      | $616231.87    | 0.01%             | 2052-08-25      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | J.P. Morgan Mortgage Trust 2021-LTV2                                        | CUSIP: 46654VAA1<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |     11300351 | PA      | $9606039.78   | 0.09%             | 2052-05-25      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2022-2                                             | CUSIP: 46655DCR1<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      3075263 | PA      | $2425043.74   | 0.02%             | 2052-08-25      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2022-2                                             | CUSIP: 46655DCS9<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1635700 | PA      | $1068268.40   | 0.01%             | 2052-08-25      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2022-2                                             | CUSIP: 46655DCT7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1806360 | PA      | $763318.68    | 0.01%             | 2052-08-25      | Variable      | 2.05%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | J.P. Morgan Mortgage Trust 2022-DSC1                                        | CUSIP: 46656AAA5<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      6851979 | PA      | $7032794.48   | 0.07%             | 2063-01-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | J.P. Morgan Mortgage Trust 2023-3                                           | CUSIP: 46656RAN0<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      5895393 | PA      | $5929535.99   | 0.06%             | 2053-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL                          | Jackson National Life Global Funding                                        | CUSIP: 46849CJP7<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |      5350000 | PA      | $5402269.50   | 0.05%             | 2028-06-05      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL                          | Jackson National Life Global Funding                                        | CUSIP: 46849LUX7<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |     17000000 | PA      | $17005270.00  | 0.16%             | 2026-01-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL                          | Jackson National Life Global Funding                                        | CUSIP: 46849LUY5<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |      4897000 | PA      | $4998710.69   | 0.05%             | 2028-04-12      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                          | Jefferson Capital Holdings LLC                                              | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5392000 | PA      | $5658256.96   | 0.05%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, NA - CACLN                   | JPMorgan Chase Bank NA - CACLN                                              | CUSIP: 48128U2S7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       309379 | PA      | $310001.58    | 0.00%             | 2028-12-26      | Fixed         | 8.48%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                          | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc       | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     24136000 | PA      | $25384072.56  | 0.24%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY POWER CO                                 | Kentucky Power Co                                                           | CUSIP: 491386AP3<br>LEI: JHOZYZ5WPEXWR477VH72 | Long             | DBT              | CORP              | US        |     17064000 | PA      | $18647197.92  | 0.18%             | 2033-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                              | Keurig Dr Pepper Inc                                                        | CUSIP: 49271VBA7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |      5520000 | PA      | $5550084.00   | 0.05%             | 2030-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| KEYSPAN GAS EAST CORP                             | KeySpan Gas East Corp                                                       | CUSIP: 49338CAD5<br>LEI: K8TS3HOE1568DUBUJL44 | Long             | DBT              | CORP              | US        |     10857000 | PA      | $11471940.48  | 0.11%             | 2033-03-06      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART                           | Kinder Morgan Energy Partners LP                                            | CUSIP: 494550AT3<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |      4450000 | PA      | $4674369.00   | 0.05%             | 2035-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Knock Issuer Trust 2025-1                         | Knock Issuer Trust 2025-1                                                   | CUSIP: 49917PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11200000 | PA      | $11334724.80  | 0.11%             | 2030-02-25      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Knock Issuer Trust 2025-1                         | Knock Issuer Trust 2025-1                                                   | CUSIP: 49917PAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $1011181.10   | 0.01%             | 2030-02-25      | Fixed         | 9.05%                 | No            |                  2 | On Loan: No      |
| KORN/FERRY INTERNATIONAL                          | Korn Ferry                                                                  | CUSIP: 50067PAA7<br>LEI: 549300FOD20OM0GT5G40 | Long             | DBT              | CORP              | US        |     17229000 | PA      | $17230550.61  | 0.17%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                              | Kyndryl Holdings Inc                                                        | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |      7816000 | PA      | $7686645.20   | 0.07%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| LKQ CORP                                          | LKQ Corp                                                                    | CUSIP: 501889AF6<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | DBT              | CORP              | US        |     10840000 | PA      | $11603136.00  | 0.11%             | 2033-06-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                  | LPL Holdings Inc                                                            | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |      4515000 | PA      | $4515586.95   | 0.04%             | 2027-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                  | LPL Holdings Inc                                                            | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |     19481000 | PA      | $19154498.44  | 0.18%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LP LMS 2021-2 Asset Securitization Trust          | LP LMS 2021-2 Asset Securitization Trust                                    | CUSIP: 50214JAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2947000 | PA      | $1640100.98   | 0.02%             | 2029-01-15      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| LendingPoint Asset Securitization Trust           | Lendingpoint 2022-A Asset Securitization Trust                              | CUSIP: 52605AAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6000000 | PA      | $60.00        | 0.00%             | 2029-06-15      | Fixed         | 7.02%                 | No            |                  2 | On Loan: No      |
| LendingPoint Asset Securitization Trust           | LendingPoint 2020-REV1 Asset Securitization Trust                           | CUSIP: 52606YAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       924627 | PA      | $929722.29    | 0.01%             | 2028-10-15      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| LendingPoint Asset Securitization Trust           | Lendingpoint 2021-A Asset Securitization Trust                              | CUSIP: 52607FAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2692868 | PA      | $1622910.19   | 0.02%             | 2028-12-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| LendingPoint Asset Securitization Trust           | Lendingpoint 2021-B Asset Securitization Trust                              | CUSIP: 52607HAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5000000 | PA      | $1142671.50   | 0.01%             | 2029-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LendingPoint Pass-Through Trust                   | LendingPoint Pass-Through Trust Series 2022-ST3                             | CUSIP: 52607TAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        15575 | PA      | $15569.67     | 0.00%             | 2028-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                     | Lendbuzz Securitization Trust 2023-2                                        | CUSIP: 52608MAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1283158 | PA      | $1297868.69   | 0.01%             | 2028-10-16      | Fixed         | 7.09%                 | No            |                  2 | On Loan: No      |
| Lex Commercial Loan Master Trust                  | LEX 2024-BBG Mortgage Trust                                                 | CUSIP: 52885AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5400000 | PA      | $5434592.45   | 0.05%             | 2033-10-13      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP                             | Lincoln National Corp                                                       | CUSIP: 534187BT5<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5247700.00   | 0.05%             | 2034-03-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP                             | Lincoln National Corp                                                       | CUSIP: 534187BZ1<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |      4488000 | PA      | $4530770.64   | 0.04%             | 2035-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| LINEAGE OP LP                                     | Lineage OP LP                                                               | CUSIP: 53567YAA7<br>LEI: 254900CSRDL1G4SRQE89 | Long             | DBT              |  | US        |     16078000 | PA      | $16226721.50  | 0.16%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Loanpal Solar Loan Ltd.                           | Loanpal Solar Loan 2021-1 Ltd                                               | CUSIP: 53948PAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11524440 | PA      | $9622026.78   | 0.09%             | 2048-01-20      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Loanpal Solar Loan Ltd.                           | Loanpal Solar Loan 2021-1 Ltd                                               | CUSIP: 53948PAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     13252480 | PA      | $3674274.99   | 0.04%             | 2048-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Loanpal Solar Loan Ltd.                           | Loanpal Solar Loan 2021-2 Ltd                                               | CUSIP: 53948QAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2820796 | PA      | $1650688.22   | 0.02%             | 2048-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Lobel Automobile Receivables Trust                | Lobel Automobile Receivables Trust 2023-2                                   | CUSIP: 53949FAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6039575 | PA      | $6073117.53   | 0.06%             | 2029-05-15      | Fixed         | 8.67%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2021-INV2 Trust                                                         | CUSIP: 552732AA7<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      6363974 | PA      | $5770176.56   | 0.06%             | 2056-11-25      | Variable      | 1.91%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2021-INV1 Trust                                                         | CUSIP: 552747AA5<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      1224110 | PA      | $1174322.93   | 0.01%             | 2056-01-25      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2020-NQM2 Trust                                                         | CUSIP: 552751AA7<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      3687450 | PA      | $3553710.09   | 0.03%             | 2065-04-25      | Variable      | 1.38%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2020-NQM3 Trust                                                         | CUSIP: 552757AD8<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |       800000 | PA      | $742163.96    | 0.01%             | 2065-01-26      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2022-CHM1 Trust                                                         | CUSIP: 552758AA2<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      5978005 | PA      | $5945829.39   | 0.06%             | 2056-09-25      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2022-INV1 Trust                                                         | CUSIP: 55284TAC1<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      4950000 | PA      | $4800416.99   | 0.05%             | 2066-04-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2022-NQM2 Trust                                                         | CUSIP: 55285QAA0<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |     24079820 | PA      | $24607680.15  | 0.24%             | 2067-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2022-NQM3 Trust                                                         | CUSIP: 55286EAA6<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      5706920 | PA      | $5691593.59   | 0.05%             | 2067-09-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2024-RPL1 Trust                                                         | CUSIP: 55287AAA3<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |     11852771 | PA      | $11421931.86  | 0.11%             | 2066-02-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| MMP Capital                                       | MMP Capital 2025-A LLC                                                      | CUSIP: 55317QAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5079092 | PA      | $5123715.17   | 0.05%             | 2031-12-15      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                           | MPLX LP                                                                     | CUSIP: 55336VBU3<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |      2790000 | PA      | $2811901.50   | 0.03%             | 2032-09-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                          | MSCI Inc                                                                    | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |      6289000 | PA      | $6161207.52   | 0.06%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                          | MSCI Inc                                                                    | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |      9973000 | PA      | $9586346.79   | 0.09%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MA'ADEN SUKUK LTD                                 | Ma'aden Sukuk Ltd                                                           | CUSIP: 55407NAA0<br>LEI: 254900QDNU6I6VA8UL14 | Long             | DBT              | CORP              | KY        |     26000000 | PA      | $26653900.00  | 0.26%             | 2030-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LTD                                | Macquarie Bank Ltd                                                          | CUSIP: 556079AC5<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |      2800000 | PA      | $2677360.00   | 0.03%             | 2030-06-03      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP                          | Main Street Capital Corp                                                    | CUSIP: 56035LAE4<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |      8291000 | PA      | $8219614.49   | 0.08%             | 2026-07-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP                          | Main Street Capital Corp                                                    | CUSIP: 56035LAJ3<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |     23462000 | PA      | $23962444.46  | 0.23%             | 2027-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP                          | Main Street Capital Corp                                                    | CUSIP: 56035LAK0<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |     15150000 | PA      | $15212266.50  | 0.15%             | 2028-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Manhattan West                                    | Manhattan West 2020-1MW Mortgage Trust                                      | CUSIP: 563136AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3698000 | PA      | $3559056.23   | 0.03%             | 2039-09-10      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                            | Marlette Funding Trust 2021-3                                               | CUSIP: 57108Q103<br>LEI: 549300JRCMNFIBT50883 | Long             | ABS-O            | CORP              | US        |        53946 | PA      | $767279.68    | 0.01%             | 2031-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                            | Marlette Funding Trust 2021-2                                               | CUSIP: 57108T107<br>LEI: 549300JRCMNFIBT50883 | Long             | ABS-O            | CORP              | US        |        16347 | PA      | $235932.08    | 0.00%             | 2031-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                            | Marlette Funding Trust 2022-3                                               | CUSIP: 57109NAD1<br>LEI: 549300JRCMNFIBT50883 | Long             | ABS-O            | CORP              | US        |     11768584 | PA      | $11914979.54  | 0.11%             | 2032-11-15      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                            | Marlette Funding Trust 2023-3                                               | CUSIP: 57109RAC4<br>LEI: 549300JRCMNFIBT50883 | Long             | ABS-O            | CORP              | US        |       548301 | PA      | $550434.34    | 0.01%             | 2033-09-15      | Fixed         | 7.06%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                            | Marlette Funding Trust 2023-3                                               | CUSIP: 57109RAD2<br>LEI: 549300JRCMNFIBT50883 | Long             | ABS-O            | CORP              | US        |      6000000 | PA      | $6184531.26   | 0.06%             | 2033-09-15      | Fixed         | 8.04%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                            | Marlette Funding Trust 2021-1                                               | CUSIP: 57110N106<br>LEI: 549300JRCMNFIBT50883 | Long             | ABS-O            | CORP              | US        |         9520 | PA      | $88810.27     | 0.00%             | 2031-06-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                        | Mattel Inc                                                                  | CUSIP: 577081BG6<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |      1575000 | PA      | $1585725.75   | 0.02%             | 2030-11-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATTHEWS INTERNATIONAL C                          | Matthews International Corp                                                 | CUSIP: 577128AC5<br>LEI: 549300ZVC5O0ATML6U61 | Long             | DBT              | CORP              | US        |      7730000 | PA      | $7976123.20   | 0.08%             | 2027-10-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                        | MFA 2024-NPL1 Trust                                                         | CUSIP: 58004YAA7<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |     15896606 | PA      | $15918851.37  | 0.15%             | 2054-09-25      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| MEDCO MAPLE TREE PTE LTD                          | Medco Maple Tree Pte Ltd                                                    | CUSIP: 58407HAA7<br>LEI: 254900T5AQZNR0THA508 | Long             | DBT              | CORP              | SG        |     13000000 | PA      | $13550420.00  | 0.13%             | 2029-04-27      | Fixed         | 8.96%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                          | Medline Borrower LP/Medline Co-Issuer Inc                                   | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7950000 | PA      | $8230794.00   | 0.08%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MEITUAN                                           | Meituan                                                                     | CUSIP: 58533EAE3<br>LEI: 21380033K525E5JLIA77 | Long             | DBT              | CORP              | KY        |     14600000 | PA      | $14656064.00  | 0.14%             | 2028-04-02      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust           | Mello Mortgage Capital Acceptance 2021-INV3                                 | CUSIP: 585491BQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    106510642 | PA      | $697314.52    | 0.01%             | 2051-10-25      | Variable      | 0.15%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust           | Mello Mortgage Capital Acceptance 2021-INV3                                 | CUSIP: 585491BT9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8663704 | PA      | $240104.17    | 0.00%             | 2051-10-25      | Variable      | 0.55%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust           | Mello Mortgage Capital Acceptance 2021-INV3                                 | CUSIP: 585491BY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       413595 | PA      | $327054.72    | 0.00%             | 2051-10-25      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust           | Mello Mortgage Capital Acceptance 2021-INV3                                 | CUSIP: 585491BZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1845842 | PA      | $1064071.33   | 0.01%             | 2051-10-25      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust           | Mello Mortgage Capital Acceptance 2021-INV2                                 | CUSIP: 58549XBQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     87759006 | PA      | $370386.89    | 0.00%             | 2051-08-25      | Variable      | 0.11%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust           | Mello Mortgage Capital Acceptance 2021-INV2                                 | CUSIP: 58549XBT9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6013090 | PA      | $249888.99    | 0.00%             | 2051-08-25      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust           | Mello Mortgage Capital Acceptance 2021-INV2                                 | CUSIP: 58549XBY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       299673 | PA      | $238523.48    | 0.00%             | 2051-08-25      | Variable      | 3.31%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust           | Mello Mortgage Capital Acceptance 2021-INV2                                 | CUSIP: 58549XBZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1452648 | PA      | $812681.89    | 0.01%             | 2051-08-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                                  | MercadoLibre Inc                                                            | CUSIP: 58733RAE2<br>LEI: 549300DKPDN9M5S8GB14 | Long             | DBT              | CORP              | US        |      6460000 | PA      | $6451537.40   | 0.06%             | 2026-01-14      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MERCURY GENERAL CORP                              | Mercury General Corp                                                        | CUSIP: 589400AB6<br>LEI: 5493001Q9EXPCEL4W527 | Long             | DBT              | CORP              | US        |      9408000 | PA      | $9397274.88   | 0.09%             | 2027-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Mercury Financial Credit Card Master Trust        | Mercury Financial Credit Card Master Trust                                  | CUSIP: 58940BAZ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9800000 | PA      | $9833270.02   | 0.09%             | 2029-07-20      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust            | Merrill Lynch Mortgage Investors Trust Series MLMI 2004-A4                  | CUSIP: 59020ULT0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | ABS-MBS          | CORP              | US        |        28869 | PA      | $27970.10     | 0.00%             | 2034-08-25      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| METALLOINVEST FINANCE                             | Metalloinvest Finance DAC                                                   | CUSIP: 59126LAB4<br>LEI: 635400ZS3HCCUYTNHA25 | Long             | DBT              | CORP              | IE        |      7500000 | PA      | $3808725.00   | 0.04%             | 2028-10-22      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust                      | METLIFE SECURITIZATION TRUST 2019-1                                         | CUSIP: 59166EAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       195621 | PA      | $195002.11    | 0.00%             | 2058-04-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                             | Micron Technology Inc                                                       | CUSIP: 595112CG6<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |      4651000 | PA      | $4891177.64   | 0.05%             | 2032-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| MID-ATLANTIC INTERSTATE                           | Mid-Atlantic Interstate Transmission LLC                                    | CUSIP: 59524QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       945000 | PA      | $945746.55    | 0.01%             | 2028-05-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| MIDWEST CONNECTOR CAPIT                           | Midwest Connector Capital Co LLC                                            | CUSIP: 59833CAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5487000 | PA      | $5488646.10   | 0.05%             | 2029-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                          | Mill City Mortgage Loan Trust 2023-NQM1                                     | CUSIP: 59980DAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13816936 | PA      | $13783565.00  | 0.13%             | 2067-10-25      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                          | Mill City Securities 2024-RS1 Ltd                                           | CUSIP: 599920AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8880631 | PA      | $8520458.91   | 0.08%             | 2069-11-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Mission Lane Credit Card Master Trust             | Mission Lane Credit Card Master Trust                                       | CUSIP: 60510MAY4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4700000 | PA      | $4722975.67   | 0.05%             | 2029-08-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                            | Mitsubishi UFJ Financial Group Inc                                          | CUSIP: 606822BX1<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |      7000000 | PA      | $6238960.00   | 0.06%             | 2032-07-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                            | Mitsubishi UFJ Financial Group Inc                                          | CUSIP: 606822CL6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |      1750000 | PA      | $1775497.50   | 0.02%             | 2028-07-20      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                            | Mitsubishi UFJ Financial Group Inc                                          | CUSIP: 606822CT9<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |      2000000 | PA      | $2083820.00   | 0.02%             | 2031-02-22      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Momnt Technologies Trust                          | Momnt Technologies Trust 2023-1                                             | CUSIP: 608934AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1096447 | PA      | $1101620.95   | 0.01%             | 2045-03-20      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                            | Morgan Stanley Bank NA                                                      | CUSIP: 61690DK72<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |      5610000 | PA      | $5714963.10   | 0.06%             | 2029-01-12      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust    | Morgan Stanley Residential Mortgage Loan Trust 2024-NQM1                    | CUSIP: 61775UAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10891314 | PA      | $10977890.14  | 0.11%             | 2068-12-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                    | Morgan Stanley Capital I Trust 2024-BPR2                                    | CUSIP: 61776EAA1<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |     14351365 | PA      | $15173646.43  | 0.15%             | 2029-05-05      | Fixed         | 7.29%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust    | Morgan Stanley Residential Mortgage Loan Trust 2024-RPL1                    | CUSIP: 61776YAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19712842 | PA      | $19477565.82  | 0.19%             | 2064-06-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                            | Mosaic Solar Loan Trust 2020-2                                              | CUSIP: 61946PAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2785968 | PA      | $2247518.18   | 0.02%             | 2046-08-20      | Fixed         | 2.21%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                            | Mosaic Solar Loan Trust 2020-2                                              | CUSIP: 61946PAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       468495 | PA      | $451415.73    | 0.00%             | 2046-08-20      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                            | Mosaic Solar Loan Trust 2020-2                                              | CUSIP: 61946PAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1549937 | PA      | $309936.22    | 0.00%             | 2046-08-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                            | Mosaic Solar Loan Trust 2021-2                                              | CUSIP: 61946RAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9930000 | PA      | $645595.18    | 0.01%             | 2047-04-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                            | Mosaic Solar Loan Trust 2021-3                                              | CUSIP: 61946TAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12320000 | PA      | $476857.92    | 0.00%             | 2052-06-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                            | Mosaic Solar Loan Trust 2021-1                                              | CUSIP: 61947DAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8600000 | PA      | $1152365.60   | 0.01%             | 2046-12-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MUELLER WATER PRODUCTS                            | Mueller Water Products Inc                                                  | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |     20714000 | PA      | $20144779.28  | 0.19%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MPOWER Education Trust                            | MPOWER Education Trust 2024-A                                               | CUSIP: 62476DAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7318808 | PA      | $7679440.59   | 0.07%             | 2041-07-22      | Fixed         | 6.78%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                               | Medline Borrower LP                                                         | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |      2000000 | PA      | $1955520.00   | 0.02%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MPOWER Education Trust                            | MPOWER Education Trust 2025-A                                               | CUSIP: 624930AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12440318 | PA      | $12676298.64  | 0.12%             | 2042-07-21      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                              | Utah Acquisition Sub Inc                                                    | CUSIP: 62854AAN4<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |     10595000 | PA      | $10561307.90  | 0.10%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NBK SPC LTD                                       | NBK SPC Ltd                                                                 | CUSIP: 62877PAB0<br>LEI: 549300P1ANDK86KWB419 | Long             | DBT              | CORP              | AE        |      5177000 | PA      | $5078378.15   | 0.05%             | 2027-09-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| NLG GLOBAL FUNDING                                | NLG Global Funding                                                          | CUSIP: 62915W2A0<br>LEI: 635400SKBQOWEJZLTW68 | Long             | DBT              | CORP              | US        |     11985000 | PA      | $12332804.70  | 0.12%             | 2030-01-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NLG GLOBAL FUNDING                                | NLG Global Funding                                                          | CUSIP: 62915W2B8<br>LEI: 635400SKBQOWEJZLTW68 | Long             | DBT              | CORP              | US        |      9834000 | PA      | $9723269.16   | 0.09%             | 2030-09-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                  | NMEF Funding 2025-B LLC                                                     | CUSIP: 62919WAB5<br>LEI: 549300LKWL3P0UPHKL72 | Long             | ABS-O            | CORP              | US        |      7850000 | PA      | $7884268.00   | 0.08%             | 2033-01-18      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| NASDAQ INC                                        | Nasdaq Inc                                                                  | CUSIP: 63111XAJ0<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |      8840000 | PA      | $9287127.20   | 0.09%             | 2034-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| National Collegiate Student Loan Trust            | National Collegiate Student Loan Trust 2007-2                               | CUSIP: 63543LAD7<br>LEI: 635400VQIBXGEB9ZUC59 | Long             | ABS-O            | CORP              | US        |     20058879 | PA      | $19740514.57  | 0.19%             | 2033-01-25      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| National Collegiate Student Loan Trust            | National Collegiate Student Loan Trust 2005-1                               | CUSIP: 63543PBK1<br>LEI: 635400YFCYTJSI5XDJ17 | Long             | ABS-O            | CORP              | US        |      1774281 | PA      | $1657492.88   | 0.02%             | 2035-03-26      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| National Collegiate Student Loan Trust            | National Collegiate Student Loan Trust 2006-1                               | CUSIP: 63543PCD6<br>LEI: 635400ZLDAQQL4PJBJ98 | Long             | ABS-O            | CORP              | US        |      6717119 | PA      | $6652301.26   | 0.06%             | 2033-03-25      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| National Collegiate Student Loan Trust            | National Collegiate Student Loan Trust 2006-4                               | CUSIP: 63543WAD3<br>LEI: 635400VHKJCABQGBTP36 | Long             | ABS-O            | CORP              | US        |       902382 | PA      | $898379.39    | 0.01%             | 2032-05-25      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                          | Navoi Mining & Metallurgical Combinat                                       | CUSIP: 63890CAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |     19170000 | PA      | $19835582.40  | 0.19%             | 2028-10-17      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                        | Navient Private Education Refi Loan Trust 2019-D                            | CUSIP: 63941CAC7<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      1833356 | PA      | $1832341.88   | 0.02%             | 2059-12-15      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                         | Nelnet Student Loan Trust 2015-2                                            | CUSIP: 64033QAB5<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      1103119 | PA      | $1071879.47   | 0.01%             | 2042-09-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                         | Nelnet Student Loan Trust 2021-D                                            | CUSIP: 64034YAA9<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      1992935 | PA      | $1976556.67   | 0.02%             | 2062-04-20      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                         | Nelnet Student Loan Trust 2021-C                                            | CUSIP: 64035GAA7<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      1717627 | PA      | $1703778.87   | 0.02%             | 2062-04-20      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                         | Nelnet Student Loan Trust 2021-C                                            | CUSIP: 64035GAB5<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      4575133 | PA      | $4312582.69   | 0.04%             | 2062-04-20      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| NETAPP INC                                        | NetApp Inc                                                                  | CUSIP: 64110DAM6<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |      9933000 | PA      | $10333995.21  | 0.10%             | 2032-03-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NetCredit Combined Receivables 2023 LLC           | NetCredit Combined Receivables 2023 LLC                                     | CUSIP: 64110XAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       545970 | PA      | $546626.65    | 0.01%             | 2027-12-20      | Fixed         | 7.78%                 | No            |                  2 | On Loan: No      |
| Enva 2018-A, LLC                                  | NetCredit Combined Receivables A LLC                                        | CUSIP: 64112RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6777714 | PA      | $6917903.53   | 0.07%             | 2031-10-20      | Fixed         | 7.29%                 | No            |                  2 | On Loan: No      |
| Enva 2018-A, LLC                                  | NetCredit Combined Receivables 2024 LLC                                     | CUSIP: 64113EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        24630 | PA      | $24653.15     | 0.00%             | 2030-10-21      | Fixed         | 7.43%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Issuer LLC             | New Economy Assets - Phase 1 Sponsor LLC                                    | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19365000 | PA      | $16165756.76  | 0.16%             | 2061-10-20      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2017-3                                  | CUSIP: 64828MAA5<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       608069 | PA      | $596195.32    | 0.01%             | 2057-04-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2017-5                                  | CUSIP: 64828NAA3<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       271237 | PA      | $274501.73    | 0.00%             | 2057-06-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2017-4                                  | CUSIP: 64829NAA2<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       514674 | PA      | $501270.59    | 0.00%             | 2057-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2021-INV1                               | CUSIP: 64829WAL8<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |     88606803 | PA      | $3577747.75   | 0.03%             | 2051-06-25      | Variable      | 0.74%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2021-INV1                               | CUSIP: 64829WBA1<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      1116655 | PA      | $922329.53    | 0.01%             | 2051-06-25      | Variable      | 3.24%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2021-INV1                               | CUSIP: 64829WBB9<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      1967138 | PA      | $1285565.73   | 0.01%             | 2051-06-25      | Variable      | 3.23%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2017-6                                  | CUSIP: 64830BAA5<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       267995 | PA      | $261942.44    | 0.00%             | 2057-08-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2018-1                                  | CUSIP: 64830GAB2<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       509323 | PA      | $496521.83    | 0.00%             | 2057-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2024-RTL1                               | CUSIP: 64831PAA3<br>LEI: 213800CVLC5IFCJL6C96 | Long             | ABS-MBS          | CORP              | US        |     11875000 | PA      | $11930019.25  | 0.12%             | 2039-03-25      | Variable      | 6.66%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2022-NQM3                               | CUSIP: 64831QAA1<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |     14944509 | PA      | $14194541.65  | 0.14%             | 2062-04-25      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust               | New Residential Mortgage Loan Trust 2024-RPL1                               | CUSIP: 64832AAA5<br>LEI: 213800YID3SS4UZHT817 | Long             | ABS-MBS          | CORP              | US        |     13304032 | PA      | $12659911.48  | 0.12%             | 2064-01-25      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| NRZ Excess Spread Collateralized Notes            | NRM FHT1 Excess Owner LLC                                                   | CUSIP: 64832EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7658941 | PA      | $7735729.14   | 0.07%             | 2032-03-25      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                          | New York Life Global Funding                                                | CUSIP: 64952WEZ2<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |      4400000 | PA      | $4384908.00   | 0.04%             | 2033-01-28      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NY STATE ELECTRIC & GAS                           | New York State Electric & Gas Corp                                          | CUSIP: 649840CU7<br>LEI: 549300GEC6J0YHUXA160 | Long             | DBT              | CORP              | US        |     15000000 | PA      | $15570600.00  | 0.15%             | 2028-08-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp          | NEW YORK TRANSPRTN DEV CORP LEASE REVENUE                                   | CUSIP: 650117AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      1805000 | PA      | $1781607.20   | 0.02%             | 2035-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                         | News Corp                                                                   | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |      2000000 | PA      | $1940640.00   | 0.02%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                         | News Corp                                                                   | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |      4980000 | PA      | $4908039.00   | 0.05%             | 2032-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| NIAGARA MOHAWK POWER                              | Niagara Mohawk Power Corp                                                   | CUSIP: 65364UAL0<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |      7700000 | PA      | $7702772.00   | 0.07%             | 2028-12-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                               | Nigeria Government International Bond                                       | CUSIP: 65412JAB9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     10000000 | PA      | $9436600.00   | 0.09%             | 2047-11-28      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                               | Nigeria Government International Bond                                       | CUSIP: 65412JAT0<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      4300000 | PA      | $4213828.00   | 0.04%             | 2051-09-28      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP                               | Northern Trust Corp                                                         | CUSIP: 665859AQ7<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |      4750000 | PA      | $4733517.50   | 0.05%             | 2026-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                               | NOVA Chemicals Corp                                                         | CUSIP: 66977WAR0<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     17905000 | PA      | $18011534.75  | 0.17%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                               | NOVA Chemicals Corp                                                         | CUSIP: 66977WAU3<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |      5000000 | PA      | $5339450.00   | 0.05%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                               | NOVA Chemicals Corp                                                         | CUSIP: 66977WAV1<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |      5000000 | PA      | $5327300.00   | 0.05%             | 2031-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Continental Credit Card llc                       | Continental Finance Credit Card ABS Master Trust                            | CUSIP: 66981PAQ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5000000 | PA      | $5069869.75   | 0.05%             | 2032-12-15      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Continental Credit Card llc                       | Continental Finance Credit Card ABS Master Trust                            | CUSIP: 66981PAT5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9343000 | PA      | $9515038.26   | 0.09%             | 2032-12-15      | Fixed         | 9.42%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                      | Novelis Corp                                                                | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     12730000 | PA      | $11578571.50  | 0.11%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NUFARM AUSTRALIA/AMERICA                          | Nufarm Australia Ltd / Nufarm Americas Inc                                  | CUSIP: 67052NAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |     12383000 | PA      | $11364002.93  | 0.11%             | 2030-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                               | NuStar Logistics LP                                                         | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |      4000000 | PA      | $4007120.00   | 0.04%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust 2021-909            | NYC Commercial Mortgage Trust 2021-909                                      | CUSIP: 67076XAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4450000 | PA      | $3866532.47   | 0.04%             | 2043-04-10      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| NVENT FINANCE SARL                                | nVent Finance Sarl                                                          | CUSIP: 67078AAD5<br>LEI: 549300KO1OQ4MVFB6X02 | Long             | DBT              | CORP              | LU        |      3000000 | PA      | $3015810.00   | 0.03%             | 2028-04-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NVENT FINANCE SARL                                | nVent Finance Sarl                                                          | CUSIP: 67078AAE3<br>LEI: 549300KO1OQ4MVFB6X02 | Long             | DBT              | CORP              | LU        |      4097000 | PA      | $3687914.55   | 0.04%             | 2031-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                          | OBX 2021-NQM2 Trust                                                         | CUSIP: 670857AA9<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |      4919382 | PA      | $4095102.73   | 0.04%             | 2061-05-25      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                          | OCP SA                                                                      | CUSIP: 67091TAD7<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |      7200000 | PA      | $6731928.00   | 0.06%             | 2031-06-23      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OWS Structured Asset Trust                        | OSAT 2021-RPL1 Trust                                                        | CUSIP: 67114HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17613476 | PA      | $17613476.21  | 0.17%             | 2065-05-25      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                          | OBX 2021-NQM4 Trust                                                         | CUSIP: 67115DAA0<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |     12950408 | PA      | $11194756.54  | 0.11%             | 2061-10-25      | Variable      | 1.96%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                          | OBX 2024-NQM11 Trust                                                        | CUSIP: 67119EAA4<br>LEI: 254900F5LT8CA1U6PK21 | Long             | ABS-MBS          | CORP              | US        |      9112617 | PA      | $9204258.69   | 0.09%             | 2064-06-25      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                           | NYMT Loan Trust Series 2024-BPL2                                            | CUSIP: 67120TAA8<br>LEI: 254900HCG7N4R7AWFZ60 | Long             | ABS-MBS          | CORP              | US        |     11000000 | PA      | $11098871.30  | 0.11%             | 2039-05-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| OLYMPUS CORP                                      | Olympus Corp                                                                | CUSIP: 68163WAA7<br>LEI: 5299000Y52IFDI1I2A21 | Long             | DBT              | CORP              | JP        |      5510000 | PA      | $5409111.90   | 0.05%             | 2026-12-08      | Fixed         | 2.14%                 | No            |                  2 | On Loan: No      |
| One Bryant Park Trust                             | One Bryant Park Trust 2019-OBP                                              | CUSIP: 68236JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     26914348 | PA      | $24984788.68  | 0.24%             | 2054-09-15      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                    | Open Text Corp                                                              | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |      5626000 | PA      | $5518318.36   | 0.05%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                    | Open Text Corp                                                              | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |      5202000 | PA      | $4938206.58   | 0.05%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                    | Open Text Corp                                                              | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |     18395000 | PA      | $19135030.85  | 0.18%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC                               | Oportun Issuance Trust 2021-B                                               | CUSIP: 68377GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1433141 | PA      | $1408123.92   | 0.01%             | 2031-05-08      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC                               | Oportun Issuance Trust 2025-A                                               | CUSIP: 68377TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6400000 | PA      | $6404585.47   | 0.06%             | 2033-02-08      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC                               | Oportun Issuance Trust 2021-C                                               | CUSIP: 68377WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5799065 | PA      | $5711152.66   | 0.06%             | 2031-10-08      | Fixed         | 2.18%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC                               | Oportun Funding 2022-1 LLC                                                  | CUSIP: 68377X109<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        11000 | PA      | $226485.42    | 0.00%             | 2029-06-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA                          | Blue Owl Technology Finance Corp                                            | CUSIP: 691205AE8<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |      4232000 | PA      | $4206650.32   | 0.04%             | 2026-06-17      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                            | Blue Owl Credit Income Corp                                                 | CUSIP: 69120VAM3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |      2176000 | PA      | $2151411.20   | 0.02%             | 2026-09-23      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                            | Blue Owl Credit Income Corp                                                 | CUSIP: 69120VAP6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |      1350000 | PA      | $1403446.50   | 0.01%             | 2027-09-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PPL CAPITAL FUNDING INC                           | PPL Capital Funding Inc                                                     | CUSIP: 69352PAT0<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |      4000000 | PA      | $4098560.00   | 0.04%             | 2034-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                       | PRKCM 2021-AFC1 Trust                                                       | CUSIP: 69357TAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3498575 | PA      | $3010553.20   | 0.03%             | 2056-08-25      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                       | PRKCM 2021-AFC1 Trust                                                       | CUSIP: 69357TAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2729000 | PA      | $1907054.67   | 0.02%             | 2056-08-25      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| PSEG POWER LLC                                    | PSEG Power LLC                                                              | CUSIP: 69362BBD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9034000 | PA      | $9239884.86   | 0.09%             | 2030-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust             | PRPM 2022-INV1 Trust                                                        | CUSIP: 69377EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     24031447 | PA      | $24066563.27  | 0.23%             | 2067-04-25      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust             | PRPM 2022-INV1 Trust                                                        | CUSIP: 69377EAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7135382 | PA      | $6993608.21   | 0.07%             | 2067-04-25      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust             | PRPM 2022-NQM1 Trust                                                        | CUSIP: 69378KAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6932890 | PA      | $6913919.15   | 0.07%             | 2067-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust             | PRPM 2024-RPL2 LLC                                                          | CUSIP: 69381DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7961016 | PA      | $7873160.59   | 0.08%             | 2054-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust             | PRPM 2025-1 LLC                                                             | CUSIP: 69382GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20695844 | PA      | $20690308.36  | 0.20%             | 2030-04-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                       | PRKCM 2024-HOME1 Trust                                                      | CUSIP: 69391XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4616918 | PA      | $4676090.70   | 0.05%             | 2059-05-25      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust             | PRPM 2025-RPL3 LLC                                                          | CUSIP: 69392NAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13525601 | PA      | $13108562.21  | 0.13%             | 2055-04-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC              | PRET 2024-RPL1 Trust                                                        | CUSIP: 693989AA3<br>LEI: 254900640HC5OZKI7J87 | Long             | ABS-MBS          | CORP              | US        |      4514718 | PA      | $4376715.13   | 0.04%             | 2063-10-25      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF II                                | Pacific Life Global Funding II                                              | CUSIP: 6944PL2G3<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |      4533000 | PA      | $4538892.90   | 0.04%             | 2026-06-04      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                    | PAGAYA AI Debt Trust 2022-2                                                 | CUSIP: 69546VAC1<br>LEI: 254900ULYEY0HX0PKA54 | Long             | ABS-O            | CORP              | US        |      1352338 | PA      | $1355259.30   | 0.01%             | 2030-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                    | Pagaya AI Debt Trust 2024-1                                                 | CUSIP: 69548AAA9<br>LEI: 254900ULYEY0HX0PKA54 | Long             | ABS-O            | CORP              | US        |       866367 | PA      | $866977.95    | 0.01%             | 2031-07-15      | Fixed         | 6.66%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds             | Panama Government International Bonds                                       | CUSIP: 698299BN3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     13300000 | PA      | $10982209.00  | 0.11%             | 2032-09-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| PAPA JOHN'S INTERNATIONA                          | Papa John's International Inc                                               | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |     12568000 | PA      | $11996407.36  | 0.12%             | 2029-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PAYCHEX INC                                       | Paychex Inc                                                                 | CUSIP: 704326AB3<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |      3044000 | PA      | $3152823.00   | 0.03%             | 2032-04-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PEACHTREE FUND TRUST II                           | Peachtree Corners Funding Trust II                                          | CUSIP: 70470BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7292000 | PA      | $7678913.52   | 0.07%             | 2035-05-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| PEGASUS HAVA TASIMACILIG                          | Pegasus Hava Tasimaciligi AS                                                | CUSIP: 705567AB1<br>LEI: 789000B1MW5PQ58A8T03 | Long             | DBT              | CORP              | TR        |     24600000 | PA      | $25906998.00  | 0.25%             | 2031-09-11      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY PENN ELECTRI                          | FirstEnergy Pennsylvania Electric Co                                        | CUSIP: 708696CA5<br>LEI: O1PLQWO3TX952VMBJ146 | Long             | DBT              | CORP              | US        |      5230000 | PA      | $5240983.00   | 0.05%             | 2026-03-30      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                          | Penske Truck Leasing Co Lp / PTL Finance Corp                               | CUSIP: 709599BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6440000 | PA      | $6624377.20   | 0.06%             | 2028-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                          | Penske Truck Leasing Co Lp / PTL Finance Corp                               | CUSIP: 709599BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2480000 | PA      | $2491780.00   | 0.02%             | 2026-05-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                          | Penske Truck Leasing Co Lp / PTL Finance Corp                               | CUSIP: 709599BV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2400000 | PA      | $2560368.00   | 0.02%             | 2030-06-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                          | Penske Truck Leasing Co Lp / PTL Finance Corp                               | CUSIP: 709599BZ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3060000 | PA      | $3147516.00   | 0.03%             | 2029-03-30      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PENTAIR FINANCE SARL                              | Pentair Finance Sarl                                                        | CUSIP: 709629AS8<br>LEI: 549300H2U8U8TZPV3T89 | Long             | DBT              | CORP              | LU        |      9193000 | PA      | $9759472.66   | 0.09%             | 2032-07-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| PERIMETER MASTER NT                               | PERIMETER MASTER NT                                                         | CUSIP: 71384PAU5<br>LEI: 5493005H6EB040833X54 | Long             | ABS-O            | CORP              | US        |     10000000 | PA      | $10101776.00  | 0.10%             | 2029-09-17      | Fixed         | 8.55%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                         | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     10950000 | PA      | $11117754.00  | 0.11%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                         | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      8312000 | PA      | $8042857.44   | 0.08%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PIEDMONT NATURAL GAS CO                           | Piedmont Natural Gas Co Inc                                                 | CUSIP: 720186AQ8<br>LEI: VXB4M3BDPKF3I2AZ3G89 | Long             | DBT              | CORP              | US        |      4945000 | PA      | $5141365.95   | 0.05%             | 2033-06-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| POLARIS INC                                       | Polaris Inc                                                                 | CUSIP: 731068AA0<br>LEI: 549300QJSN8UVWN1EI78 | Long             | DBT              | CORP              | US        |      9875000 | PA      | $10469277.50  | 0.10%             | 2029-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| POLARIS INC                                       | Polaris Inc                                                                 | CUSIP: 731068AB8<br>LEI: 549300QJSN8UVWN1EI78 | Long             | DBT              | CORP              | US        |      6637000 | PA      | $6707750.42   | 0.06%             | 2031-03-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| POSCO                                             | POSCO                                                                       | CUSIP: 73730EAC7<br>LEI: 9884000N94NH7G6LQ816 | Long             | DBT              | CORP              | KR        |      2350000 | PA      | $2351222.00   | 0.02%             | 2026-01-17      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                 | Post Holdings Inc                                                           | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      8860000 | PA      | $8626273.20   | 0.08%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                 | Post Holdings Inc                                                           | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      2950000 | PA      | $3033455.50   | 0.03%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                 | Post Holdings Inc                                                           | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5048750.00   | 0.05%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                 | Post Holdings Inc                                                           | CUSIP: 737446AY0<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      1820000 | PA      | $1822821.00   | 0.02%             | 2036-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PowerPay Issuance Trust                           | PowerPay Issuance Trust 2024-1                                              | CUSIP: 73934RAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4845070 | PA      | $4969428.84   | 0.05%             | 2039-02-18      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                               | Prestige Brands Inc                                                         | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |     12321000 | PA      | $12318782.22  | 0.12%             | 2028-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                               | Prestige Brands Inc                                                         | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |      6386000 | PA      | $5961841.88   | 0.06%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC              | PRET 2025-NPL3 LLC                                                          | CUSIP: 74143HAA3<br>LEI: 254900UGRYVHG7BY6M45 | Long             | ABS-O            | CORP              | US        |     24609611 | PA      | $24756773.65  | 0.24%             | 2055-04-25      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                          | Principal Life Global Funding II                                            | CUSIP: 74256LEW5<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |      6400000 | PA      | $6599616.00   | 0.06%             | 2028-06-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Prodigy Finance Designated Activity Co            | Prodigy Finance CM2021-1 DAC                                                | CUSIP: 742855AA7<br>LEI: 635400HTAZNW3LYYMQ40 | Long             | ABS-O            | CORP              | IE        |       285167 | PA      | $285299.37    | 0.00%             | 2051-07-25      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| PROLOGIS TARGETED US                              | Prologis Targeted US Logistics Fund LP                                      | CUSIP: 74350LAA2<br>LEI: 5493004DTBWUQ9F2VJ87 | Long             | DBT              |  | US        |      5530000 | PA      | $5692747.90   | 0.05%             | 2029-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                         | Prosus NV                                                                   | CUSIP: 74365PAF5<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |       656000 | PA      | $596415.52    | 0.01%             | 2031-07-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                         | Prosus NV                                                                   | CUSIP: 74365PAH1<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |     11494000 | PA      | $11006309.58  | 0.11%             | 2032-01-19      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE CORP                              | Protective Life Corp                                                        | CUSIP: 743674BE2<br>LEI: 549300ZWIT8J8Y2EXL07 | Long             | DBT              | CORP              | US        |      4902000 | PA      | $4729008.42   | 0.05%             | 2030-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE CORP                              | Protective Life Corp                                                        | CUSIP: 743674BF9<br>LEI: 549300ZWIT8J8Y2EXL07 | Long             | DBT              | CORP              | US        |      5857000 | PA      | $5873458.17   | 0.06%             | 2031-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                            | Protective Life Global Funding                                              | CUSIP: 74368CBV5<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |      4850000 | PA      | $5020477.50   | 0.05%             | 2028-12-08      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE GLOBAL                            | Protective Life Global Funding                                              | CUSIP: 74368CCD4<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |      4925000 | PA      | $4932042.75   | 0.05%             | 2029-01-15      | Fixed         | 4.16%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust             | PRPM 2025-RPL4 LLC                                                          | CUSIP: 74448NAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16818439 | PA      | $15992596.28  | 0.15%             | 2055-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE OKLAHOMA                           | Public Service Co of Oklahoma                                               | CUSIP: 744533BS8<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |      6000000 | PA      | $6155940.00   | 0.06%             | 2036-01-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                          | Public Service Enterprise Group Inc                                         | CUSIP: 744573AY2<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |      9543000 | PA      | $9813066.90   | 0.09%             | 2029-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                  | Puget Energy Inc                                                            | CUSIP: 745310AK8<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |      6876000 | PA      | $6734079.36   | 0.06%             | 2030-06-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                  | Puget Energy Inc                                                            | CUSIP: 745310AN2<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |      8255000 | PA      | $7912912.80   | 0.08%             | 2032-03-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                  | Puget Energy Inc                                                            | CUSIP: 745310AQ5<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |      6812000 | PA      | $6990133.80   | 0.07%             | 2035-03-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| QORVO INC                                         | Qorvo Inc                                                                   | CUSIP: 74736KAJ0<br>LEI: 254900YAUJV2EUEVBR11 | Long             | DBT              | CORP              | US        |     26626000 | PA      | $24649552.02  | 0.24%             | 2031-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC                               | Quanta Services Inc                                                         | CUSIP: 74762EAK8<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |      3670000 | PA      | $3716682.40   | 0.04%             | 2027-08-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RCKT Trust                                        | RCKT Trust 2025-PL1                                                         | CUSIP: 74939RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3101343 | PA      | $3116977.60   | 0.03%             | 2034-07-25      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| REMIC FUNDING TRUST 98-1                          | RFT 2025-RR1 Trust                                                          | CUSIP: 749433AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14185458 | PA      | $14209501.89  | 0.14%             | 2028-06-27      | Variable      | 6.77%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                        | ROCK Trust 2024-CNTR                                                        | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11400000 | PA      | $11715626.21  | 0.11%             | 2041-11-13      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Radian Mortgage Capital Trust                     | Radian Mortgage Capital Trust 2024-J2                                       | CUSIP: 75023WAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7830740 | PA      | $7846318.56   | 0.08%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                              | Raizen Fuels Finance SA                                                     | CUSIP: 75102XAB2<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |      4800000 | PA      | $3940080.00   | 0.04%             | 2034-03-05      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                              | Raizen Fuels Finance SA                                                     | CUSIP: 75102XAD8<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |     11670000 | PA      | $9053936.10   | 0.09%             | 2035-01-17      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Rate Mortgage Trust                               | Rate Mortgage Trust 2024-J4                                                 | CUSIP: 75408TAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20995766 | PA      | $21106722.39  | 0.20%             | 2054-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Rate Mortgage Trust                               | Rate Mortgage Trust 2022-J1                                                 | CUSIP: 75410RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10777237 | PA      | $9625389.81   | 0.09%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| REAL HERO MERGER SUB 2                            | Real Hero Merger Sub 2 Inc                                                  | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2671000 | PA      | $1154326.07   | 0.01%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                | Realty Income Corp                                                          | CUSIP: 756109BS2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |      4503000 | PA      | $4590628.38   | 0.04%             | 2028-12-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                | Regal Rexnord Corp                                                          | CUSIP: 758750AL7<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |      9070000 | PA      | $9085237.60   | 0.09%             | 2026-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                | Regal Rexnord Corp                                                          | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |      6000000 | PA      | $6360720.00   | 0.06%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                | Regional Management Issuance Trust 2022-1                                   | CUSIP: 75907DAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       311845 | PA      | $311370.01    | 0.00%             | 2032-03-15      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                           | Reinsurance Group of America Inc                                            | CUSIP: 759351AR0<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |      7001000 | PA      | $7460965.70   | 0.07%             | 2033-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RELIANCE STAND LIFE II                            | Reliance Standard Life Global Funding II                                    | CUSIP: 75951AAQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4000000 | PA      | $3918520.00   | 0.04%             | 2026-09-28      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| RELIANCE STAND LIFE II                            | Reliance Standard Life Global Funding II                                    | CUSIP: 75951ACY2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22908000 | PA      | $22918766.76  | 0.22%             | 2026-02-02      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                          | RenaissanceRe Holdings Ltd                                                  | CUSIP: 75968NAE1<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |      9395000 | PA      | $9825478.90   | 0.09%             | 2033-06-05      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RENTOKIL TERMINIX LLC                             | Rentokil Terminix Funding LLC                                               | CUSIP: 760130AA2<br>LEI: 984500D5BAA7560EKJ44 | Long             | DBT              | CORP              | US        |     13680000 | PA      | $13919126.40  | 0.13%             | 2030-04-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPAY HOLDINGS                                    | Repay Holdings Corp                                                         | CUSIP: 76029LAA8<br>LEI: 2549006EJ42T73ZKUI98 | Long             | DBT              | CORP              | US        |     22785000 | PA      | $22516137.00  | 0.22%             | 2026-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust I        | Research-Driven Pagaya Motor Asset Trust 2023-4                             | CUSIP: 76088UAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6730762 | PA      | $6744006.52   | 0.07%             | 2032-03-25      | Fixed         | 7.54%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust I        | Research-Driven Pagaya Motor Trust 2024-1                                   | CUSIP: 76088YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3785313 | PA      | $3803946.85   | 0.04%             | 2032-06-25      | Fixed         | 7.09%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust I        | Research-Driven Pagaya Motor Trust 2025-5                                   | CUSIP: 76089KAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21708000 | PA      | $21702576.91  | 0.21%             | 2034-06-26      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust I        | Research-Driven Pagaya Motor Asset Trust 2023-3                             | CUSIP: 76089RAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5298655 | PA      | $5307681.85   | 0.05%             | 2032-01-26      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust I        | Research-Driven Pagaya Motor Trust 2025-6                                   | CUSIP: 76100JAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28203000 | PA      | $28216792.40  | 0.27%             | 2034-08-25      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer, LLC         | Retained Vantage Data Centers Issuer LLC                                    | CUSIP: 76134KAA2<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |     12100000 | PA      | $12065803.22  | 0.12%             | 2048-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                | RGA Global Funding                                                          | CUSIP: 76209PAB9<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |      9687000 | PA      | $9235488.93   | 0.09%             | 2029-01-18      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                | RGA Global Funding                                                          | CUSIP: 76209PAD5<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |      5458000 | PA      | $5676047.10   | 0.05%             | 2031-01-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                | RGA Global Funding                                                          | CUSIP: 76209PAE3<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |      4000000 | PA      | $4138920.00   | 0.04%             | 2029-05-24      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                | RGA Global Funding                                                          | CUSIP: 76209PAK9<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |      6179000 | PA      | $6179370.74   | 0.06%             | 2030-11-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                  | Ryder System Inc                                                            | CUSIP: 78355HKW8<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |      6533000 | PA      | $6708411.05   | 0.06%             | 2028-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SK HYNIX INC                                      | SK hynix Inc                                                                | CUSIP: 78392BAB3<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |      4400000 | PA      | $4394148.00   | 0.04%             | 2026-01-19      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| SK HYNIX INC                                      | SK hynix Inc                                                                | CUSIP: 78392BAD9<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |      4800000 | PA      | $4803552.00   | 0.05%             | 2026-01-17      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                   | SBA Tower Trust                                                             | CUSIP: 78403DAP5<br>LEI: N/A                  | Long             | DBT              |  | US        |      2420000 | PA      | $2417305.57   | 0.02%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                   | SBA Tower Trust                                                             | CUSIP: 78403DAT7<br>LEI: N/A                  | Long             | DBT              |  | US        |     13500000 | PA      | $13208278.50  | 0.13%             | 2026-11-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                   | SBA Tower Trust                                                             | CUSIP: 78403DAV2<br>LEI: N/A                  | Long             | DBT              |  | US        |      3400000 | PA      | $3293741.50   | 0.03%             | 2027-04-15      | Fixed         | 1.84%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                   | SBA Tower Trust                                                             | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              |  | US        |     15000000 | PA      | $15359559.00  | 0.15%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                   | SBA Tower Trust                                                             | CUSIP: 78403DBD1<br>LEI: N/A                  | Long             | DBT              |  | US        |     16980000 | PA      | $17085855.02  | 0.16%             | 2029-10-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                               | SG Residential Mortgage Trust 2019-3                                        | CUSIP: 78432BAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1978000 | PA      | $1940908.05   | 0.02%             | 2059-09-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                               | SG Residential Mortgage Trust 2019-3                                        | CUSIP: 78432BAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       842000 | PA      | $731272.45    | 0.01%             | 2059-09-25      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                               | SG Residential Mortgage Trust 2019-3                                        | CUSIP: 78432BAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10029814 | PA      | $124938.38    | 0.00%             | 2059-09-25      | Variable      | 0.38%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                               | SG Residential Mortgage Trust 2019-3                                        | CUSIP: 78432BAM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9855705 | PA      | $98.56        | 0.00%             | 2059-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                               | SG Residential Mortgage Trust 2019-3                                        | CUSIP: 78432BAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9362825 | PA      | $517860.68    | 0.00%             | 2059-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SFO Commerical Mortgage Trust                     | SFO Commercial Mortgage Trust 2021-555                                      | CUSIP: 78432WAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14442000 | PA      | $14335804.65  | 0.14%             | 2038-05-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                               | SG Residential Mortgage Trust 2021-2                                        | CUSIP: 78432YAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5244291 | PA      | $4595708.62   | 0.04%             | 2061-12-25      | Variable      | 1.74%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                               | SG Residential Mortgage Trust 2022-1                                        | CUSIP: 78433QAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4204000 | PA      | $3024830.13   | 0.03%             | 2062-03-27      | Variable      | 3.96%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                            | SLM Student Loan Trust 2008-2                                               | CUSIP: 784442AC9<br>LEI: 549300MHMWVKFEDI8G73 | Long             | ABS-O            | CORP              | US        |        20778 | PA      | $20757.88     | 0.00%             | 2023-04-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                            | SLM Student Loan Trust 2008-5                                               | CUSIP: 78444YAD7<br>LEI: 549300SRMXHPGI3BJ386 | Long             | ABS-O            | CORP              | US        |       261905 | PA      | $255588.05    | 0.00%             | 2023-07-25      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                            | SLM Student Loan Trust 2011-2                                               | CUSIP: 78446JAB2<br>LEI: 549300GQO6PBOYVGSS10 | Long             | ABS-O            | CORP              | US        |      1651868 | PA      | $1659184.50   | 0.02%             | 2034-10-25      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                            | SLM Student Loan Trust 2012-1                                               | CUSIP: 78446WAC1<br>LEI: 5493000NQN5E3MSIIG77 | Long             | ABS-O            | CORP              | US        |      1000474 | PA      | $992396.30    | 0.01%             | 2028-09-25      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                            | SLM Student Loan Trust 2013-6                                               | CUSIP: 78448CAG4<br>LEI: 5493000NQN5E3MSIIG77 | Long             | ABS-O            | CORP              | US        |      1180002 | PA      | $1169478.40   | 0.01%             | 2028-06-26      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                  | SMB Private Education Loan Trust 2021-A                                     | CUSIP: 78448YAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         2742 | PA      | $4505412.23   | 0.04%             | 2053-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                  | SMB Private Education Loan Trust 2021-D                                     | CUSIP: 78449MAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1349904 | PA      | $1337702.02   | 0.01%             | 2053-03-17      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                                  | SLG Office Trust 2021-OVA                                                   | CUSIP: 78449RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     18658000 | PA      | $16644303.82  | 0.16%             | 2041-07-15      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                  | SMB Private Education Loan Trust 2022-A                                     | CUSIP: 78450FAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2356872 | PA      | $2254280.14   | 0.02%             | 2054-11-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                             | SS&C Technologies Inc                                                       | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |      2670000 | PA      | $2672322.90   | 0.03%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                             | SS&C Technologies Inc                                                       | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |      6700000 | PA      | $6964449.00   | 0.07%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                             | SS&C Technologies Inc 2024 Term Loan B8                                     | CUSIP: 78466DBJ2<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |      3903426 | PA      | $3924699.63   | 0.04%             | 2031-05-09      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| SNF GROUP SACA                                    | SNF Group SACA                                                              | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |      8405000 | PA      | $8258921.10   | 0.08%             | 2027-03-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                            | Sable International Finance Ltd                                             | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |      1500000 | PA      | $1521015.00   | 0.01%             | 2032-10-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SAFCO Auto Receivables Trust                      | SAFCO Auto Receivables Trust 2025-1                                         | CUSIP: 785923AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14572591 | PA      | $14673310.65  | 0.14%             | 2029-09-10      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| SAMMONS FINANCIAL GLOBAL                          | Sammons Financial Group Global Funding                                      | CUSIP: 79587J2E2<br>LEI: 635400IPRNPM6HDHRS48 | Long             | DBT              | CORP              | US        |      6106000 | PA      | $6116135.96   | 0.06%             | 2030-12-12      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SAMMONS FINANCIAL GROUP                           | Sammons Financial Group Inc                                                 | CUSIP: 79588TAC4<br>LEI: 254900SHCOQLVJ21CT59 | Long             | DBT              | CORP              | US        |      2000000 | PA      | $1999440.00   | 0.02%             | 2027-05-12      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SAMMONS FINANCIAL GROUP                           | Sammons Financial Group Inc                                                 | CUSIP: 79588TAF7<br>LEI: 254900SHCOQLVJ21CT59 | Long             | DBT              | CORP              | US        |      6610000 | PA      | $7236363.60   | 0.07%             | 2034-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                            | Santander Holdings USA Inc                                                  | CUSIP: 80282KBH8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     12000000 | PA      | $13436880.00  | 0.13%             | 2031-11-09      | Fixed         | 7.66%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                            | Santander Holdings USA Inc                                                  | CUSIP: 80282KBK1<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5034350.00   | 0.05%             | 2027-05-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                            | Santander Holdings USA Inc                                                  | CUSIP: 80282KBQ8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     11370000 | PA      | $11759649.90  | 0.11%             | 2031-03-20      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust            | Santander Drive Auto Receivables Trust 2024-3                               | CUSIP: 80287LAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22800000 | PA      | $23034142.78  | 0.22%             | 2029-09-17      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                          | Saudi Government International Bond                                         | CUSIP: 80413TBJ7<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     18000000 | PA      | $18370980.00  | 0.18%             | 2028-01-13      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                          | Science Applications International Corp                                     | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |     33305000 | PA      | $33257373.85  | 0.32%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                             | Scotts Miracle-Gro Co/The                                                   | CUSIP: 810186AP1<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |      2000000 | PA      | $1997300.00   | 0.02%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                             | Scotts Miracle-Gro Co/The                                                   | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     13166000 | PA      | $12355369.38  | 0.12%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                   | Sealed Air Corp                                                             | CUSIP: 81211KAZ3<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     17665000 | PA      | $17286262.40  | 0.17%             | 2026-10-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                   | Sealed Air Corp                                                             | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |      8460000 | PA      | $8514144.00   | 0.08%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                          | Sealed Air Corp/Sealed Air Corp US                                          | CUSIP: 812127AB4<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |       500000 | PA      | $520545.00    | 0.01%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                   | Sealed Air Corp                                                             | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |      4000000 | PA      | $4146000.00   | 0.04%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Select Medical Corporation                        | Select Medical Corporation 2024 Term Loan B                                 | CUSIP: 816194AY0<br>LEI: 549300X05KS0JKR8CB50 | Long             | LON              | CORP              | US        |     13069737 | PA      | $13037062.49  | 0.13%             | 2031-12-03      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                            | Sequoia Mortgage Trust 2023-3                                               | CUSIP: 816943BF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5933081 | PA      | $6034080.06   | 0.06%             | 2053-09-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                           | Sensata Technologies BV                                                     | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |      1236000 | PA      | $1206323.64   | 0.01%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                           | Sensata Technologies BV                                                     | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |      9175000 | PA      | $9328222.50   | 0.09%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                          | Sensata Technologies Inc                                                    | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |       800000 | PA      | $837448.00    | 0.01%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                            | Sequoia Mortgage Trust 2017-7                                               | CUSIP: 81746GCD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1158296 | PA      | $1047365.89   | 0.01%             | 2047-10-25      | Variable      | 3.72%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                            | Sequoia Mortgage Trust 2015-4                                               | CUSIP: 81746MCE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1686000 | PA      | $1588170.68   | 0.02%             | 2030-11-25      | Variable      | 3.09%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                            | Sequoia Mortgage Trust 2016-3                                               | CUSIP: 81746NCD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1973325 | PA      | $1474130.64   | 0.01%             | 2046-11-25      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                            | Sequoia Mortgage Trust 2018-7                                               | CUSIP: 81747WEL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1802000 | PA      | $1451146.56   | 0.01%             | 2048-09-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                            | Sequoia Mortgage Trust 2021-9                                               | CUSIP: 81748CAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11847235 | PA      | $9936559.08   | 0.10%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                 | Service Corp International/US                                               | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      5950000 | PA      | $6066977.00   | 0.06%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Service Experts Issuer                            | Service Experts Issuer 2021-1 LLC                                           | CUSIP: 81758VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5097550 | PA      | $5003945.97   | 0.05%             | 2032-02-02      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                               | SG Residential Mortgage Trust 2020-2                                        | CUSIP: 81882JAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       729600 | PA      | $684548.39    | 0.01%             | 2065-05-25      | Variable      | 1.90%                 | No            |                  2 | On Loan: No      |
| Shellpoint Co-Originator Trust                    | Shellpoint Co-Originator Trust 2016-1                                       | CUSIP: 82281ECA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2091685 | PA      | $1626154.34   | 0.02%             | 2046-11-25      | Variable      | 3.52%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                 | Sierra Timeshare 2023-1 Receivables Funding LLC                             | CUSIP: 826943AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1036455 | PA      | $1068352.58   | 0.01%             | 2040-01-20      | Fixed         | 9.80%                 | No            |                  2 | On Loan: No      |
| SILGAN HOLDINGS INC                               | Silgan Holdings Inc                                                         | CUSIP: 827048AX7<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |     20762000 | PA      | $20586561.10  | 0.20%             | 2026-04-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                               | Sirius XM Radio LLC                                                         | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     11960000 | PA      | $11976504.80  | 0.12%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                               | Sirius XM Radio LLC                                                         | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      3250000 | PA      | $3276877.50   | 0.03%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                               | Sirius XM Radio LLC                                                         | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      9815000 | PA      | $9590727.25   | 0.09%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                          | South Bow USA Infrastructure Holdings LLC                                   | CUSIP: 83007CAD4<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |      4460000 | PA      | $4526008.00   | 0.04%             | 2029-10-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| SKYWORKS SOLUTIONS INC                            | Skyworks Solutions Inc                                                      | CUSIP: 83088MAK8<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | DBT              | CORP              | US        |      2701000 | PA      | $2672828.57   | 0.03%             | 2026-06-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| SKY1 Trust                                        | SKY Trust 2025-LINE                                                         | CUSIP: 830941AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8176467 | PA      | $8217623.15   | 0.08%             | 2042-04-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| SNAM SPA                                          | Snam SpA                                                                    | CUSIP: 83304JAA5<br>LEI: 8156002278562044AF79 | Long             | DBT              | CORP              | IT        |      4200000 | PA      | $4286268.00   | 0.04%             | 2030-05-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SNAM SPA                                          | Snam SpA                                                                    | CUSIP: 83304JAB3<br>LEI: 8156002278562044AF79 | Long             | DBT              | CORP              | IT        |      3907000 | PA      | $4085120.13   | 0.04%             | 2035-05-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                         | CUSIP: 83368RBR2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |      1667000 | PA      | $1733429.95   | 0.02%             | 2029-01-10      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                         | CUSIP: 83368RBW1<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |      2000000 | PA      | $2063220.00   | 0.02%             | 2030-01-19      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                         | CUSIP: 83368RCA8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |      6687000 | PA      | $6707930.31   | 0.06%             | 2027-02-19      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| SODEXO INC                                        | Sodexo Inc                                                                  | CUSIP: 833794AC4<br>LEI: 549300WSZGQGJQXRFU84 | Long             | DBT              | CORP              | US        |      6000000 | PA      | $6149760.00   | 0.06%             | 2030-08-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC              | SoFi Professional Loan Program 2021-B Trust                                 | CUSIP: 83405N106<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |        90000 | PA      | $2041409.88   | 0.02%             | 2047-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC              | SoFi Professional Loan Program 2021-B Trust                                 | CUSIP: 83405NAA4<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |     12722791 | PA      | $11201788.94  | 0.11%             | 2047-02-15      | Fixed         | 1.14%                 | No            |                  2 | On Loan: No      |
| SoFi Alternative Trust                            | Sofi Alternative Trust 2019-C                                               | CUSIP: 83406JAA2<br>LEI: 549300FHYBLULHPK5D74 | Long             | ABS-O            | CORP              | US        |     13945897 | PA      | $13858205.17  | 0.13%             | 2045-01-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                       | Southern Co/The                                                             | CUSIP: 842587CV7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |      6725000 | PA      | $6703614.50   | 0.06%             | 2026-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                       | Southern Co/The                                                             | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     22174000 | PA      | $22165795.62  | 0.21%             | 2051-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL                           | Southern Co Gas Capital Corp                                                | CUSIP: 8426EPAF5<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |      6950000 | PA      | $7139040.00   | 0.07%             | 2032-09-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST GAS CORP                                | Southwest Gas Corp                                                          | CUSIP: 845011AC9<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |      7880000 | PA      | $7162368.40   | 0.07%             | 2030-06-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST GAS CORP                                | Southwest Gas Corp                                                          | CUSIP: 845011AE5<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |      3026000 | PA      | $2919545.32   | 0.03%             | 2032-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST GAS CORP                                | Southwest Gas Corp                                                          | CUSIP: 845011AF2<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |      4610000 | PA      | $4749222.00   | 0.05%             | 2027-12-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| SPIRE INC                                         | Spire Inc                                                                   | CUSIP: 84857LAC5<br>LEI: 549300NXSY15DRY2R511 | Long             | DBT              | CORP              | US        |     12927000 | PA      | $12946649.04  | 0.12%             | 2026-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Springcastle SPV                                  | SpringCastle America Funding LLC                                            | CUSIP: 85022WAP9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1751194 | PA      | $1654659.75   | 0.02%             | 2037-09-25      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| Spruce Hill Mortgage Loan Trust                   | Spruce Hill Mortgage Loan Trust 2022-SH1                                    | CUSIP: 85213XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4623667 | PA      | $4771801.14   | 0.05%             | 2057-07-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| Spruce Hill Mortgage Acquisition Company, LLC     | Spruce Hill Mortgage Loan Trust 2020-SH2                                    | CUSIP: 85214RAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2561838 | PA      | $2560116.41   | 0.02%             | 2055-06-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Stack Infrastructure Issuer LLC                   | Stack Infrastructure Issuer LLC                                             | CUSIP: 85236KAE2<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-O            | CORP              | US        |      7500000 | PA      | $7448050.65   | 0.07%             | 2046-03-26      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust               | Starwood Mortgage Residential Trust 2021-5                                  | CUSIP: 85573QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12445973 | PA      | $10530817.76  | 0.10%             | 2066-09-25      | Variable      | 1.92%                 | No            |                  2 | On Loan: No      |
| STEWART INFORMATION SERV                          | Stewart Information Services Corp                                           | CUSIP: 86038AAA0<br>LEI: 529900TV1XI0PLKENU10 | Long             | DBT              | CORP              | US        |     16620000 | PA      | $14692744.80  | 0.14%             | 2031-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| STILLWATER MINING CO                              | Stillwater Mining Co                                                        | CUSIP: 86074QAQ5<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |      3050000 | PA      | $2885178.00   | 0.03%             | 2029-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STREAM INNOVATIONS ISSUER TRUST                   | Stream Innovations 2024-1 Issuer Trust                                      | CUSIP: 86324CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4295860 | PA      | $4454358.67   | 0.04%             | 2044-07-15      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                          | Sumitomo Mitsui Financial Group Inc                                         | CUSIP: 86562MDC1<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |     14550000 | PA      | $15456319.50  | 0.15%             | 2030-07-13      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| SUMMIT MIDSTREAM                                  | Summit Midstream Corp                                                       | CUSIP: 86614G200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |        21140 | NS      | $3466176.97   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING                          | Summit Midstream Holdings LLC                                               | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4950000 | PA      | $5129932.50   | 0.05%             | 2029-10-31      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| SUN COMMUNITIES OPER LP                           | Sun Communities Operating LP                                                | CUSIP: 866677AE7<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              |  | US        |      9377000 | PA      | $8529600.51   | 0.08%             | 2031-07-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Sunbit Asset Securitization Trust                 | Sunbit Asset Securitization Trust 2025-1                                    | CUSIP: 86709SAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8900000 | PA      | $8987154.59   | 0.09%             | 2030-07-15      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| Sunnova Hestia II Issuer, LLC                     | Sunnova Hestia II Issuer LLC                                                | CUSIP: 86746FAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5241600 | PA      | $5216316.18   | 0.05%             | 2051-07-20      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                            | Sunoco LP / Sunoco Finance Corp                                             | CUSIP: 86765KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2387000 | PA      | $2462333.72   | 0.02%             | 2028-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                         | Sunoco LP                                                                   | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      2083000 | PA      | $2171902.44   | 0.02%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                         | Sunoco LP                                                                   | CUSIP: 86765KAC3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      7893000 | PA      | $8337218.04   | 0.08%             | 2032-05-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                         | Sunoco LP                                                                   | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      1897000 | PA      | $1945373.50   | 0.02%             | 2030-09-18      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                         | Sunoco LP                                                                   | CUSIP: 86765KAH2<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     16591000 | PA      | $16607093.27  | 0.16%             | 2027-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                         | Sunoco LP                                                                   | CUSIP: 86765KAL3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      7115000 | PA      | $7312370.10   | 0.07%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                            | Sunoco LP / Sunoco Finance Corp                                             | CUSIP: 86765LAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12530000 | PA      | $12552052.80  | 0.12%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TD SYNNEX CORP                                    | TD SYNNEX Corp                                                              | CUSIP: 87162WAF7<br>LEI: 5493004HI6PFLF46NS53 | Long             | DBT              | CORP              | US        |     26068000 | PA      | $25676719.32  | 0.25%             | 2026-08-09      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| SYSTEM ENERGY RESOURCES                           | System Energy Resources Inc                                                 | CUSIP: 871911AU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2212000 | PA      | $2295193.32   | 0.02%             | 2028-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TKC Holdings Inc                                  | TKC Holdings Inc 2024 Term Loan                                             | CUSIP: 87256FAJ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      4342089 | PA      | $4352943.78   | 0.04%             | 2028-05-15      | Floating      | 8.72%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                  | TKC Holdings Inc                                                            | CUSIP: 87256YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8650000 | PA      | $8704235.50   | 0.08%             | 2028-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                  | T-Mobile USA Inc                                                            | CUSIP: 87264ABR5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |      2232000 | PA      | $2226219.12   | 0.02%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                  | T-Mobile USA Inc                                                            | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     11515000 | PA      | $10206205.10  | 0.10%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                  | T-Mobile USA Inc                                                            | CUSIP: 87264ADS1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |      8935000 | PA      | $9192596.05   | 0.09%             | 2032-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                             | TRK 2022-INV2 Trust                                                         | CUSIP: 87265XAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8689853 | PA      | $8610191.31   | 0.08%             | 2057-06-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| TPC Group Inc                                     | TPC Group Inc 2024 Term Loan B                                              | CUSIP: 87266EAG0<br>LEI: 549300K276KVW5JD1583 | Long             | LON              | CORP              | US        |     12902500 | PA      | $11504772.18  | 0.11%             | 2031-12-16      | Floating      | 9.39%                 | No            |                  2 | On Loan: No      |
| TMS ISSUER SARL                                   | TMS Issuer Sarl                                                             | CUSIP: 87266GAA8<br>LEI: 21380092DY1X4BHPMA32 | Long             | DBT              | CORP              | LU        |     10700000 | PA      | $11144371.00  | 0.11%             | 2032-08-23      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                       | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      4500000 | PA      | $4608270.00   | 0.04%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                       | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     16224000 | PA      | $16870039.68  | 0.16%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Tesla Sustainable Energy Trust                    | Tesla Sustainable Energy Trust 2024-1                                       | CUSIP: 88164AAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9961543 | PA      | $9997862.20   | 0.10%             | 2050-06-21      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Theorem Funding Trust                             | Theorem Funding Trust 2022-3                                                | CUSIP: 882925AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1447754 | PA      | $1472739.81   | 0.01%             | 2029-04-15      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| Thornburg Capital Management Fund                 | Thornburg Capital Management Fund                                           | CUSIP: 885216739<br>LEI: 549300GLR0WG6ALV5277 | Long             | EC               | RF                | US        |     53376155 | NS      | $533761545.59 | 5.15%             |  |  |  | No            |                  1 | On Loan: No      |
| 321 Henderson Receivables LLC                     | 321 Henderson Receivables I LLC                                             | CUSIP: 88576NAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       244496 | PA      | $243673.72    | 0.00%             | 2041-09-15      | Floating      | 4.06%                 | No            |                  2 | On Loan: No      |
| TIAA Bank Mortgage Loan Trust                     | TIAA Bank Mortgage Loan Trust 2018-2                                        | CUSIP: 886312CD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2195676 | PA      | $2031379.12   | 0.02%             | 2048-07-25      | Variable      | 3.66%                 | No            |                  2 | On Loan: No      |
| TIAA Bank Mortgage Loan Trust                     | TIAA Bank Mortgage Loan Trust 2018-2                                        | CUSIP: 886312CE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2040000 | PA      | $1405613.92   | 0.01%             | 2048-07-25      | Variable      | 3.66%                 | No            |                  2 | On Loan: No      |
| TOLEDO EDISON COMPANY                             | Toledo Edison Co/The                                                        | CUSIP: 889175BF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4425000 | PA      | $4216317.00   | 0.04%             | 2028-05-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                             | Toorak Mortgage Trust 2024-RRTL1                                            | CUSIP: 89054YAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11200000 | PA      | $11242831.04  | 0.11%             | 2039-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                         | Towd Point Mortgage Trust 2018-2                                            | CUSIP: 89175VAA1<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |       441055 | PA      | $436577.17    | 0.00%             | 2058-03-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Towd Point Asset Trust                            | Towd Point Asset Trust 2021-SL1                                             | CUSIP: 89179XAD7<br>LEI: 54930022FYEFQVX02P24 | Long             | ABS-O            | CORP              | US        |     11986000 | PA      | $11798878.16  | 0.11%             | 2061-11-20      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| Towd Point Asset Trust                            | Towd Point Asset Trust 2021-SL1                                             | CUSIP: 89179XAL9<br>LEI: 54930022FYEFQVX02P24 | Long             | ABS-O            | CORP              | US        |       776650 | PA      | $776210.41    | 0.01%             | 2061-11-20      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                         | Towd Point Mortgage Trust 2025-R2                                           | CUSIP: 89182UAA4<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-O            | CORP              | US        |     14865979 | PA      | $13641014.90  | 0.13%             | 2064-09-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                         | Towd Point Mortgage Trust 2025-R1                                           | CUSIP: 89183DAA1<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |     17654781 | PA      | $15859429.38  | 0.15%             | 2057-11-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA TRUST                                 | Transcanada Trust                                                           | CUSIP: 89356BAB4<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |      6899000 | PA      | $6908382.64   | 0.07%             | 2076-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                     | TransDigm Inc                                                               | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     11165000 | PA      | $11379814.60  | 0.11%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                     | TransDigm Inc                                                               | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     14860000 | PA      | $15341909.80  | 0.15%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization Trust                | Tricolor Auto Securitization Trust 2024-2                                   | CUSIP: 89616PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1028264 | PA      | $1011459.91   | 0.01%             | 2027-12-15      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization Trust                | Tricolor Auto Securitization Trust 2024-3                                   | CUSIP: 89617AAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2202828 | PA      | $2022229.66   | 0.02%             | 2028-06-15      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                             | Truist Financial Corp                                                       | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |      6250000 | PA      | $6740562.50   | 0.07%             | 2029-10-30      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| TUCSON ELECTRIC POWER CO                          | Tucson Electric Power Co                                                    | CUSIP: 898813AW0<br>LEI: YLF139GXSRKPBBTNZL03 | Long             | DBT              | CORP              | US        |      8325000 | PA      | $8519139.00   | 0.08%             | 2034-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| TURKCELL ILETISIM HIZMET                          | Turkcell Iletisim Hizmetleri AS                                             | CUSIP: 900111AC9<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |     20850000 | PA      | $21886453.50  | 0.21%             | 2030-01-24      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| TURNING POINT BRANDS INC                          | Turning Point Brands Inc                                                    | CUSIP: 90041LAG0<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |      1000000 | PA      | $1066250.00   | 0.01%             | 2032-03-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                | CUSIP: 902613AH1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      2679000 | PA      | $2635359.09   | 0.03%             | 2027-08-10      | Fixed         | 1.49%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                      | US Foods Inc                                                                | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     13800000 | PA      | $13720098.00  | 0.13%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                      | US Foods Inc                                                                | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |      5465000 | PA      | $5566758.30   | 0.05%             | 2033-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DIGICEL HOLDINGS LIMITED                          | DIGICEL HOLDINGS LIMITED                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        24516 | NS      | $22234.79     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| UL SOLUTIONS INC                                  | UL Solutions Inc                                                            | CUSIP: 903731AC1<br>LEI: 549300F7CUV5ESKV9P71 | Long             | DBT              | CORP              | US        |     16950000 | PA      | $17905471.50  | 0.17%             | 2028-10-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UNDER ARMOUR INC                                  | Under Armour Inc                                                            | CUSIP: 904311AA5<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |     17454000 | PA      | $17353115.88  | 0.17%             | 2026-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UNDER ARMOUR INC                                  | Under Armour Inc                                                            | CUSIP: 904311AD9<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |      8990000 | PA      | $9017689.20   | 0.09%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| United Auto Credit Securitization Trust           | United Auto Credit Securitization Trust 2022-1                              | CUSIP: 90944DAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        37000 | PA      | $1749997.21   | 0.02%             | 2028-11-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                             | Mexico Government International Bond                                        | CUSIP: 91087BBK5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      9750000 | PA      | $9659227.50   | 0.09%             | 2033-03-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                       | CUSIP: 912810SM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     60253885 | PA      | $34667166.50  | 0.33%             | 2050-02-15      | Fixed         | 0.25%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                         | CUSIP: 912810SQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    164700000 | PA      | $103580859.38 | 1.00%             | 2040-08-15      | Fixed         | 1.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                         | CUSIP: 912810SR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000000 | PA      | $63546875.00  | 0.61%             | 2040-05-15      | Fixed         | 1.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                         | CUSIP: 912810ST6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    207290000 | PA      | $134738500.00 | 1.30%             | 2040-11-15      | Fixed         | 1.38%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Bonds                                       | CUSIP: 912810SV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     57874528 | PA      | $31247724.18  | 0.30%             | 2051-02-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                       | CUSIP: 912828Z37<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     37963200 | PA      | $36020552.06  | 0.35%             | 2030-01-15      | Fixed         | 0.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                       | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    167719570 | PA      | $166828559.29 | 1.61%             | 2034-01-15      | Fixed         | 1.75%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Inflation-Indexed Notes                                       | CUSIP: 91282CKL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    140411577 | PA      | $143439201.63 | 1.38%             | 2029-04-15      | Fixed         | 2.13%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                         | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    211000000 | PA      | $208131718.75 | 2.01%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury STRIPS Coupon                                                 | CUSIP: 912833Y38<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     50000000 | PA      | $30863660.50  | 0.30%             | 2036-11-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury STRIPS Coupon                                                 | CUSIP: 912833Y46<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    110000000 | PA      | $66151600.90  | 0.64%             | 2037-05-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury STRIPS Coupon                                                 | CUSIP: 912834AT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     25000000 | PA      | $13999623.50  | 0.14%             | 2038-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury STRIPS Coupon                                                 | CUSIP: 912834EP9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     25000000 | PA      | $13171374.75  | 0.13%             | 2039-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury STRIPS Coupon                                                 | CUSIP: 912834JB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     80000000 | PA      | $39697796.80  | 0.38%             | 2040-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury STRIPS Coupon                                                 | CUSIP: 912834KV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     25000000 | PA      | $11509312.75  | 0.11%             | 2041-11-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury STRIPS Coupon                                                 | CUSIP: 912834LX4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     40000000 | PA      | $17352554.40  | 0.17%             | 2042-11-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| United States Treasury                            | U.S. Treasury STRIPS Coupon                                                 | CUSIP: 912834MT2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     50000000 | PA      | $20718953.00  | 0.20%             | 2043-08-15      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                             | Universal Health Services Inc                                               | CUSIP: 913903AW0<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |      4646000 | PA      | $4234736.08   | 0.04%             | 2030-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                             | Universal Health Services Inc                                               | CUSIP: 913903AZ3<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |      6179000 | PA      | $6077602.61   | 0.06%             | 2026-09-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                             | Universal Health Services Inc                                               | CUSIP: 913903BB5<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |     14035000 | PA      | $14093666.30  | 0.14%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| UNUM GROUP                                        | Unum Group                                                                  | CUSIP: 91529YAU0<br>LEI: 549300E32YFDO6TZ8R31 | Long             | DBT              | CORP              | US        |     11920000 | PA      | $11838109.60  | 0.11%             | 2035-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                    | Upgrade Master Pass-Thru Trust Series 2025-ST4                              | CUSIP: 91533MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4495384 | PA      | $4519692.65   | 0.04%             | 2032-08-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Upgrade Receivables Trust                         | Upgrade Receivables Trust 2024-1                                            | CUSIP: 91533NAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       150027 | PA      | $150067.42    | 0.00%             | 2031-02-18      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                    | Upgrade Master Pass-Thru Trust Series 2025-ST5                              | CUSIP: 91535BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6840264 | PA      | $6851336.68   | 0.07%             | 2032-09-15      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2023-1                                         | CUSIP: 91679AAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6814136 | PA      | $6833940.07   | 0.07%             | 2033-02-20      | Fixed         | 11.10%                | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2025-2                                         | CUSIP: 91679EAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6885567 | PA      | $6920086.01   | 0.07%             | 2035-06-20      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2021-5                                         | CUSIP: 91679JAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4259131 | PA      | $4241727.43   | 0.04%             | 2031-11-20      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2021-3                                         | CUSIP: 91679L102<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         7165 | PA      | $591158.16    | 0.01%             | 2031-07-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2021-3                                         | CUSIP: 91679LAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1138641 | PA      | $1136582.57   | 0.01%             | 2031-07-20      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Upstart Structured Pass-Through Trust             | Upstart Structured Pass-Through Trust Series 2022-2A                        | CUSIP: 91680YAY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2851910 | PA      | $2844836.32   | 0.03%             | 2030-06-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2021-4                                         | CUSIP: 91682NAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         4706 | PA      | $499307.25    | 0.00%             | 2031-09-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust                        | Upstart Pass-Through Trust Series 2021-ST8                                  | CUSIP: 91683LAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5400000 | PA      | $545616.00    | 0.01%             | 2029-10-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust                        | Upstart Pass-Through Trust Series 2021-ST9                                  | CUSIP: 91683MAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1414000 | PA      | $215028.39    | 0.00%             | 2029-11-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2023-2                                         | CUSIP: 91683VAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1693599 | PA      | $1701841.66   | 0.02%             | 2033-06-20      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2023-3                                         | CUSIP: 91684MAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       370392 | PA      | $371094.13    | 0.00%             | 2033-10-20      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust                                                | CUSIP: 91684NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2528794 | PA      | $2527564.43   | 0.02%             | 2034-11-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                      | Upstart Securitization Trust 2025-1                                         | CUSIP: 91684PAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4884097 | PA      | $4890699.74   | 0.05%             | 2035-04-20      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                              | Republic of Uzbekistan International Bond                                   | CUSIP: 91824PAB3<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |  95500000000 | PA      | $8325187.54   | 0.08%             | 2027-05-29      | Fixed         | 16.63%                | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                              | Republic of Uzbekistan International Bond                                   | CUSIP: 91824PAD9<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |  92000000000 | PA      | $8014414.27   | 0.08%             | 2028-02-25      | Fixed         | 15.50%                | No            |                  2 | On Loan: No      |
| Vericrest Opportunity Loan Transferee             | VOLT C LLC                                                                  | CUSIP: 91835DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5650821 | PA      | $5650144.68   | 0.05%             | 2051-05-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| VSP OPTICAL GROUP INC                             | VSP Optical Group Inc                                                       | CUSIP: 91836LAA0<br>LEI: 549300PHX8USLM2BT742 | Long             | DBT              | CORP              | US        |      2832000 | PA      | $2852192.16   | 0.03%             | 2035-12-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| VT TOPCO INC                                      | VT Topco Inc                                                                | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |     11362000 | PA      | $11853860.98  | 0.11%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Verdant Receivables LLC                           | Verdant Receivables 2023-1 LLC                                              | CUSIP: 92339GAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4474612 | PA      | $4547393.11   | 0.04%             | 2031-01-13      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                                      | VeriSign Inc                                                                | CUSIP: 92343EAQ5<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |      6508000 | PA      | $6690093.84   | 0.06%             | 2032-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VERISK ANALYTICS INC                              | Verisk Analytics Inc                                                        | CUSIP: 92345YAH9<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |      3540000 | PA      | $3748966.20   | 0.04%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Veros Auto Receivables Trust                      | Veros Auto Receivables Trust 2025-1                                         | CUSIP: 92511BAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10930923 | PA      | $10979858.37  | 0.11%             | 2028-09-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                        | Verus Securitization Trust 2023-1                                           | CUSIP: 92539BAA0<br>LEI: 213800278TKDEXPH6140 | Long             | ABS-MBS          | CORP              | US        |      3504193 | PA      | $3498182.41   | 0.03%             | 2067-12-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                       | Viatris Inc                                                                 | CUSIP: 92556VAC0<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |      5184000 | PA      | $5034182.40   | 0.05%             | 2027-06-22      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                          | Virgin Media Secured Finance PLC                                            | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |      1800000 | PA      | $1773792.00   | 0.02%             | 2029-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                          | Virgin Media Secured Finance PLC                                            | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |      6500000 | PA      | $6032650.00   | 0.06%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                          | Virginia Electric and Power Co                                              | CUSIP: 927804GR9<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |      5961000 | PA      | $6042069.60   | 0.06%             | 2034-08-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Visio Trust                                       | Visio 2022-1 Trust                                                          | CUSIP: 92838CAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10000000 | PA      | $9971375.60   | 0.10%             | 2057-08-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                  | Vista Point Securitization Trust 2020-2                                     | CUSIP: 92838TAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       502115 | PA      | $487920.70    | 0.00%             | 2065-04-25      | Variable      | 1.99%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                  | Vista Point Securitization Trust 2020-1                                     | CUSIP: 92838WAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1753436 | PA      | $1740914.18   | 0.02%             | 2065-03-25      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                  | Vmed O2 UK Financing I PLC                                                  | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |      7818000 | PA      | $7133612.28   | 0.07%             | 2031-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                          | Volkswagen Group of America Finance LLC                                     | CUSIP: 928668CP5<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |     12074000 | PA      | $12254144.08  | 0.12%             | 2028-03-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                          | Volkswagen Group of America Finance LLC                                     | CUSIP: 928668CV2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |      3507000 | PA      | $3520501.95   | 0.03%             | 2027-09-11      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| VONTIER CORP                                      | Vontier Corp                                                                | CUSIP: 928881AB7<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |      4453000 | PA      | $4425302.34   | 0.04%             | 2026-04-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| VONTIER CORP                                      | Vontier Corp                                                                | CUSIP: 928881AD3<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |     11254000 | PA      | $10788984.72  | 0.10%             | 2028-04-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| VORNADO REALTY LP                                 | Vornado Realty LP                                                           | CUSIP: 929043AK3<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              |  | US        |      9336500 | PA      | $9229223.62   | 0.09%             | 2026-06-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                          | Boost Newco Borrower LLC 2025 USD Term Loan B2                              | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |     17758306 | PA      | $17769493.98  | 0.17%             | 2031-01-31      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| WB Commercial Mortgage Trust                      | WB Commercial Mortgage Trust 2024-HQ                                        | CUSIP: 92943PAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4050000 | PA      | $4046635.50   | 0.04%             | 2040-03-15      | Variable      | 5.94%                 | No            |                  2 | On Loan: No      |
| WE SODA INV HOLDING PLC                           | WE Soda Investments Holding PLC                                             | CUSIP: 92943TAA1<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |     16000000 | PA      | $16122720.00  | 0.16%             | 2028-10-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| WE SODA INV HOLDING PLC                           | WE Soda Investments Holding PLC                                             | CUSIP: 92943TAC7<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |      4150000 | PA      | $4163529.00   | 0.04%             | 2031-02-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| MALAMUTE ENERGY, INC.                             | MALAMUTE ENERGY, INC.                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          847 | NS      | $847.00       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| WELLS FARGO & COMPANY                             | Wells Fargo & Co                                                            | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     35346000 | PA      | $35225823.60  | 0.34%             | 2026-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust             | Wells Fargo Commercial Mortgage Trust 2018-1745                             | CUSIP: 94990DAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4000000 | PA      | $3756187.04   | 0.04%             | 2036-06-15      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                             | Wells Fargo & Co                                                            | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      3350000 | PA      | $3386816.50   | 0.03%             | 2028-07-25      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                             | Wells Fargo & Co                                                            | CUSIP: 95000U3E1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     10000000 | PA      | $10347700.00  | 0.10%             | 2029-07-25      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust      | Wells Fargo Mortgage Backed Securities 2021-INV1 Trust                      | CUSIP: 95003KAX0<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |     77399131 | PA      | $2268491.14   | 0.02%             | 2051-08-25      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust      | Wells Fargo Mortgage Backed Securities 2021-INV1 Trust                      | CUSIP: 95003KBL5<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |      1564571 | PA      | $1303800.64   | 0.01%             | 2051-08-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust      | Wells Fargo Mortgage Backed Securities 2021-INV1 Trust                      | CUSIP: 95003KBM3<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |      1255486 | PA      | $1008850.97   | 0.01%             | 2051-08-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust      | Wells Fargo Mortgage Backed Securities 2021-INV1 Trust                      | CUSIP: 95003KBN1<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |       965397 | PA      | $481185.80    | 0.00%             | 2051-08-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                            | WESCO Distribution Inc                                                      | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      4690000 | PA      | $4848615.80   | 0.05%             | 2029-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                            | WESCO Distribution Inc                                                      | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      2625000 | PA      | $2739161.25   | 0.03%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CALAMOS STRATEGIC TOTAL RETURN                    | CALAMOS STRATEGIC TOTAL RETURN                                              | CUSIP: 000000000<br>LEI: 54930048NQ2YBS3TXW78 | Long             | EP               | CORP              | US        |       510000 | NS      | $12877500.00  | 0.12%             |  |  |  | No            |                  3 | On Loan: No      |
| ATLAS US ROYALTY PARTICIPATION                    | ATLAS US ROYALTY PARTICIPATION                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5450000 | PA      | $545.00       | 0.00%             | 2027-03-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| WHISTLER PIPELINE LLC                             | Whistler Pipeline LLC                                                       | CUSIP: 96337RAA0<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5152550.00   | 0.05%             | 2029-09-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| WHISTLER PIPELINE LLC                             | Whistler Pipeline LLC                                                       | CUSIP: 96337RAB8<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |      6560000 | PA      | $6809280.00   | 0.07%             | 2031-09-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TRISTATE INSURED CASH SWEEP                       | TRISTATE INSURED CASH SWEEP                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |           97 | PA      | $96.65        | 0.00%             | 2050-10-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                          | Willis North America Inc                                                    | CUSIP: 970648AJ0<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |      3000000 | PA      | $2855670.00   | 0.03%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                          | Willis North America Inc                                                    | CUSIP: 970648AM3<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |      9835000 | PA      | $10148146.40  | 0.10%             | 2033-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                          | Willis North America Inc                                                    | CUSIP: 970648AP6<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |      5693000 | PA      | $5703873.63   | 0.06%             | 2031-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| WINDSOR HOLDINGS III LLC                          | Windsor Holdings III LLC                                                    | CUSIP: 97360AAA5<br>LEI: 254900IXUJZ9H146T437 | Long             | DBT              | CORP              | US        |      8470000 | PA      | $8954653.40   | 0.09%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| WIPRO IT SERVICE                                  | Wipro IT Services LLC                                                       | CUSIP: 97654MAA4<br>LEI: 549300S6XZZ65F0EJS98 | Long             | DBT              | CORP              | US        |      3953000 | PA      | $3901176.17   | 0.04%             | 2026-06-23      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                   | Xcel Energy Inc                                                             | CUSIP: 98389BBA7<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |      3183000 | PA      | $3288325.47   | 0.03%             | 2033-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Xerox Holdings Corp                               | Xerox Holdings Corp 2023 Term Loan B                                        | CUSIP: 98415LAY2<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | LON              | CORP              | US        |      8671320 | PA      | $7392300.62   | 0.07%             | 2029-11-19      | Floating      | 7.73%                 | No            |                  2 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP                           | Zebra Technologies Corp                                                     | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |      5630000 | PA      | $5826374.40   | 0.06%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| New Zealand Government Bonds                      | New Zealand Government Bonds                                                | CUSIP: 000000000<br>LEI: 549300237GPHG2AI7C34 | Long             | DBT              | NUSS              | NZ        |     17550000 | PA      | $9678006.06   | 0.09%             | 2033-04-14      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                          | Comision Federal de Electricidad                                            | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |      5846800 | PA      | $5426999.76   | 0.05%             | 2036-09-29      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                          | Brazil Notas do Tesouro Nacional Serie F                                    | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     98800000 | PA      | $16719374.04  | 0.16%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| LKQ EURO HOLDINGS BV                              | LKQ European Holdings BV                                                    | CUSIP: 000000000<br>LEI: 549300J0BGI20W62GB49 | Long             | DBT              | CORP              | NL        |      6600000 | PA      | $7790680.43   | 0.08%             | 2028-04-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES                          | International Flavors & Fragrances Inc                                      | CUSIP: 000000000<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |     13400000 | PA      | $15656343.32  | 0.15%             | 2026-09-25      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                              | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  45000000000 | PA      | $2847454.27   | 0.03%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                         | IQVIA Inc                                                                   | CUSIP: 000000000<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5830519.71   | 0.06%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                         | Prosus NV                                                                   | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |      7000000 | PA      | $7367728.30   | 0.07%             | 2032-08-03      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                         | IQVIA Inc                                                                   | CUSIP: 000000000<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |      9460000 | PA      | $10771529.84  | 0.10%             | 2029-03-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                           | Energean Israel Finance Ltd                                                 | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |      6500000 | PA      | $6405035.00   | 0.06%             | 2028-03-30      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Panama Bonos del Tesoro                           | Panama Bonos del Tesoro                                                     | CUSIP: 000000000<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     12610000 | PA      | $11263504.20  | 0.11%             | 2031-06-30      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                         | Prosus NV                                                                   | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |      8715000 | PA      | $9561705.46   | 0.09%             | 2029-07-13      | Fixed         | 1.29%                 | No            |                  2 | On Loan: No      |
| GAZPROM PJSC (GAZ FN)                             | Gazprom PJSC via Gaz Finance PLC                                            | CUSIP: 000000000<br>LEI: 213800UNP9N6BPNYMQ45 | Long             | DBT              | CORP              | GB        |     16000000 | PA      | $9833440.00   | 0.09%             | 2031-07-14      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                              | WMG Acquisition Corp                                                        | CUSIP: 000000000<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |     19018000 | PA      | $21272685.65  | 0.21%             | 2031-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                              | OI European Group BV                                                        | CUSIP: 000000000<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |      3000000 | PA      | $3623787.93   | 0.03%             | 2028-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ALBANIA                               | Albania Government International Bond                                       | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |      9800000 | PA      | $12192659.94  | 0.12%             | 2028-06-09      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                           | Energean Israel Finance Ltd                                                 | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |     13060000 | PA      | $13965449.80  | 0.13%             | 2033-09-30      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                          | Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV                        | CUSIP: 000000000<br>LEI: 894500GLVOTVRGS68C28 | Long             | DBT              | CORP              | XX        |       150000 | PA      | $216111.51    | 0.00%             | 2031-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                              | Republic of Uzbekistan International Bond                                   | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |  15500000000 | PA      | $1314686.17   | 0.01%             | 2026-10-12      | Fixed         | 16.25%                | Yes           |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                              | Indonesia Treasury Bond                                                     | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 216734000000 | PA      | $13633770.87  | 0.13%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND                             | Egypt Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    580450000 | PA      | $12291667.61  | 0.12%             | 2027-06-04      | Fixed         | 23.87%                | No            |                  2 | On Loan: No      |
| FIN DEPT GOVT SHARJAH                             | Finance Department Government of Sharjah                                    | CUSIP: 000000000<br>LEI: 254900ZNL8O3F1CLJO24 | Long             | DBT              | NUSS              | AE        |     14450000 | PA      | $17166569.91  | 0.17%             | 2031-01-17      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| POLARIS RENEWABLE ENERGY                          | Polaris Renewable Energy Inc                                                | CUSIP: 000000000<br>LEI: 254900IRAKXV4MM4QF30 | Long             | DBT              | CORP              | CA        |      6250000 | PA      | $6475500.00   | 0.06%             | 2029-12-03      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                              | Flutter Treasury DAC                                                        | CUSIP: 000000000<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |      3700000 | PA      | $4332760.23   | 0.04%             | 2031-06-04      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEVI STRAUSS & CO                                 | Levi Strauss & Co                                                           | CUSIP: 000000000<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |      2000000 | PA      | $2383728.65   | 0.02%             | 2030-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL                            | Froneri Lux FinCo SARL                                                      | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |      2000000 | PA      | $2368944.64   | 0.02%             | 2032-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                 | Iron Mountain Inc                                                           | CUSIP: 000000000<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      9754000 | PA      | $11147785.56  | 0.11%             | 2034-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                            | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      1500000 | PA      | $1779141.14   | 0.02%             | 2031-01-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shift4 Payments LLC                               | Shift4 Payments LLC 2025 Term Loan                                          | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |       249375 | PA      | $250674.24    | 0.00%             | 2032-06-30      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Green Infrastructure Partners Inc                 | Green Infrastructure Partners Inc USD Term Loan B                           | CUSIP: 000000000<br>LEI: 549300W1V7LSCKWMX505 | Long             | LON              | CORP              | CA        |      9930000 | PA      | $9930000.00   | 0.10%             | 2032-09-24      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| TELENET FINANCE LUX NOTE                          | Telenet Finance Luxembourg Notes Sarl                                       | CUSIP: 000000000<br>LEI: 2138007RI9GLJPCC3E25 | Long             | DBT              | CORP              | LU        |     14200000 | PA      | $14129568.00  | 0.14%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Australia Government Bonds                        | Australia Government Bonds                                                  | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |     36873000 | PA      | $22032792.74  | 0.21%             | 2033-11-21      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| U.K. Gilts                                        | U.K. Gilts                                                                  | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     15218000 | PA      | $20701421.20  | 0.20%             | 2029-07-22      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                       | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    315500000 | PA      | $5020682.68   | 0.05%             | 2026-06-05      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-21

**Name of Applicant:** THORNBURG INVESTMENT TRUST

**Signature:** Christopher Luckham

**Name of Signer:** Christopher Luckham

**Title:** Manager - Fund Admin