# EDGAR Filing Document

**Accession Number:** 0000887340
**File Stem:** 0002071691-25-005831
**Filing Date:** 2025-11
**Character Count:** 1777783
**Document Hash:** 270664809cd4512e153139604891c477
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-005831.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0002071691-25-005831

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEW YORK LIFE INVESTMENTS VP FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000887340

**ORGANIZATION NAME:**
- **EIN:** 133186036
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03833-01
- **FILM NUMBER:** 251510183

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 2125767000

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAINSTAY VP FUNDS TRUST
- **DATE OF NAME CHANGE:** 20110429

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAINSTAY VP SERIES FUND INC
- **DATE OF NAME CHANGE:** 20010518

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW YORK LIFE MFA SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### NYLI VP Natural Resources Portfolio (Series ID: S000033927)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000104625 | Initial Class |  |

## Nport-Ex

## NYLI VP Balanced Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 30.3%** | **Long-Term Bonds 30.3%** | **Long-Term Bonds 30.3%** |
| **Asset-Backed Securities 0.4%** | **Asset-Backed Securities 0.4%** | **Asset-Backed Securities 0.4%** |
| **Other Asset-Backed Securities 0.4%** | **Other Asset-Backed Securities 0.4%** | **Other Asset-Backed Securities 0.4%** |
| Carlyle Global Market Strategies CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-3A, Class A2R |  |  |
| &nbsp;&nbsp;&nbsp;5.979% (3 Month SOFR + 1.662%), due 10/15/30 (a)(b) | &nbsp;&nbsp;&nbsp;$800000 | &nbsp;&nbsp;$801248 |
| Invesco US CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.835% (3 Month SOFR + 1.51%), due 7/20/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444444 | &nbsp;&nbsp;&nbsp;&nbsp; 446523 |
| Store Master Funding I-VII XIV XIX XX |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.12%, due 6/20/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222858 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470629 |
| Total Asset-Backed Securities<br> (Cost $1,480,721) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470629 |
| **Corporate Bonds 13.2%** | **Corporate Bonds 13.2%** | **Corporate Bonds 13.2%** |
| **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** |
| BAE Systems plc |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 3/26/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689984 |
| Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;6.528%, due 5/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154765 |
| General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 1/29/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354876 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1199625 |
| **Auto Manufacturers 0.8%** | **Auto Manufacturers 0.8%** | **Auto Manufacturers 0.8%** |
| Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 1/13/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262278 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.73%, due 9/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504115 |
| &nbsp;&nbsp;&nbsp;5.875%, due 11/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249267 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.05%, due 10/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485178 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 6/23/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023801 |
| Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, due 9/11/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281168 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2805807 |
| **Banks 3.9%** | **Banks 3.9%** | **Banks 3.9%** |
| ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;6.339% (1 Year Treasury Constant Maturity Rate + 1.65%), due 9/18/27 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321123 |
| Bank of America Corp. (c) |  |  |
| &nbsp;&nbsp;&nbsp;1.734%, due 7/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798723 |
| &nbsp;&nbsp;&nbsp;2.087%, due 6/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620434 |
| &nbsp;&nbsp;&nbsp;5.202%, due 4/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522782 |
| &nbsp;&nbsp;&nbsp;5.511%, due 1/24/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146344 |
| &nbsp;&nbsp;&nbsp;5.518%, due 10/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307290 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Banks** | **Banks** | **Banks** |
| Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;5.95% (5 Year Treasury Constant Maturity Rate + 2.271%), due 12/20/30 (b)(d) | &nbsp;&nbsp;&nbsp;$350000 | &nbsp;&nbsp;$353908 |
| &nbsp;&nbsp;&nbsp;6.474%, due 10/25/34 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 156042 |
| Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;7.385% (1 Year Treasury Constant Maturity Rate + 3.30%), due 11/2/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 344696 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;5.786%, due 1/13/33 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 383076 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.592% (5 Year Treasury Constant Maturity Rate + 1.28%), due 11/19/34 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148378 |
| &nbsp;&nbsp;&nbsp;6.174%, due 5/25/34 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335164 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.645%, due 4/25/35 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220062 |
| Goldman Sachs Group, Inc. (The) (c) |  |  |
| &nbsp;&nbsp;&nbsp;5.016%, due 10/23/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140931 |
| &nbsp;&nbsp;&nbsp;5.218%, due 4/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542905 |
| &nbsp;&nbsp;&nbsp;6.484%, due 10/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282008 |
| HSBC Holdings plc (c) |  |  |
| &nbsp;&nbsp;&nbsp;5.741%, due 9/10/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530562 |
| &nbsp;&nbsp;&nbsp;7.39%, due 11/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419515 |
| JPMorgan Chase & Co. (c) |  |  |
| &nbsp;&nbsp;&nbsp;5.103%, due 4/22/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743846 |
| &nbsp;&nbsp;&nbsp;5.572%, due 4/22/36 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405800 |
| &nbsp;&nbsp;&nbsp;5.576%, due 7/23/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570175 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;5.121%, due 4/4/31 (c)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431253 |
| Morgan Stanley (c) |  |  |
| &nbsp;&nbsp;&nbsp;5.32%, due 7/19/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144459 |
| &nbsp;&nbsp;&nbsp;5.656%, due 4/18/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245390 |
| Morgan Stanley Private Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;4.734%, due 7/18/31 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725677 |
| PNC Financial Services Group, Inc. (The) (c) |  |  |
| &nbsp;&nbsp;&nbsp;5.373%, due 7/21/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61744 |
| &nbsp;&nbsp;&nbsp;6.615%, due 10/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430268 |
| Toronto-Dominion Bank (The) (b) |  |  |
| &nbsp;&nbsp;&nbsp;5.146% (5 Year Treasury Constant Maturity Rate + 1.50%), due 9/10/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263168 |
| &nbsp;&nbsp;&nbsp;6.35% (5 Year Treasury Constant Maturity Rate + 2.721%), due 10/31/85 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250625 |
| Truist Bank |  |  |
| &nbsp;&nbsp;&nbsp;4.632% (5 Year Treasury Constant Maturity Rate + 1.15%), due 9/17/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251869 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.122%, due 1/26/34 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132080 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;6.787%, due 10/26/27 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302904 |
| UBS Group AG (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.428% (1 Year Treasury Constant Maturity Rate + 1.52%), due 2/8/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273795 |
| &nbsp;&nbsp;&nbsp;6.442%, due 8/11/28 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457176 |
| &nbsp;&nbsp;&nbsp;6.60% (5 Year SOFR + 3.122%), due 8/5/30 (b)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201070 |
| Wells Fargo & Co. (c) |  |  |
| &nbsp;&nbsp;&nbsp;4.97%, due 4/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453474 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Banks** | **Banks** | **Banks** |
| Wells Fargo & Co. (c) |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 4/23/31 | &nbsp;&nbsp;&nbsp;$420000 | &nbsp;&nbsp;$433146 |
| &nbsp;&nbsp;&nbsp;5.605%, due 4/23/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 146923 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13498785 |
| **Beverages 0.1%** | **Beverages 0.1%** | **Beverages 0.1%** |
| Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 5/1/33 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 262430 |
| Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.60%, due 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120043 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382473 |
| **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 3/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245603 |
| **Commercial Services 0.2%** | **Commercial Services 0.2%** | **Commercial Services 0.2%** |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.15%, due 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306929 |
| Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235706 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542635 |
| **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** |
| Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.55%, due 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201083 |
| **Diversified Financial Services 0.6%** | **Diversified Financial Services 0.6%** | **Diversified Financial Services 0.6%** |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 9/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428724 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.992%, due 6/13/29 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348433 |
| Ares Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 11/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343699 |
| Blackstone Holdings Finance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.90%, due 11/3/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496594 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.183%, due 1/30/36 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264526 |
| Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;6.196%, due 11/17/29 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382060 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2264036 |
| **Electric 1.8%** | **Electric 1.8%** | **Electric 1.8%** |
| Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334693 |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164496 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Electric** | **Electric** | **Electric** |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.45%, due 6/1/30 | &nbsp;&nbsp;&nbsp;$185000 | &nbsp;&nbsp;$170262 |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 129180 |
| Duke Energy Ohio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 62140 |
| &nbsp;&nbsp;&nbsp;5.30%, due 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 567165 |
| Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 175788 |
| Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 9/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296110 |
| Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.05%, due 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513071 |
| Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.65%, due 5/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593670 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.05%, due 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256591 |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315183 |
| &nbsp;&nbsp;&nbsp;6.10%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188299 |
| &nbsp;&nbsp;&nbsp;6.15%, due 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693248 |
| &nbsp;&nbsp;&nbsp;6.40%, due 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96745 |
| PECO Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239993 |
| Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250260 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305382 |
| Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 10/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180015 |
| &nbsp;&nbsp;&nbsp;5.70%, due 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95301 |
| Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.05%, due 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293953 |
| Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227021 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6148566 |
| **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** |
| Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290786 |
| **Food 0.0% ‡** | **Food 0.0% ‡** | **Food 0.0% ‡** |
| Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, due 4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101836 |
| **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** |
| Georgia-Pacific LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 6/30/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369340 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Gas 0.2%** | **Gas 0.2%** | **Gas 0.2%** |
| CenterPoint Energy Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, due 10/1/30 | &nbsp;&nbsp;&nbsp;$410000 | &nbsp;&nbsp;$362937 |
| Southwest Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 3/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 174641 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537578 |
| **Healthcare-Products 0.0% ‡** | **Healthcare-Products 0.0% ‡** | **Healthcare-Products 0.0% ‡** |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 2/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 143288 |
| **Healthcare-Services 0.1%** | **Healthcare-Services 0.1%** | **Healthcare-Services 0.1%** |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197012 |
| **Home Furnishings 0.1%** | **Home Furnishings 0.1%** | **Home Furnishings 0.1%** |
| Leggett & Platt, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.40%, due 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483461 |
| **Insurance 0.8%** | **Insurance 0.8%** | **Insurance 0.8%** |
| Corebridge Global Funding (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 1/12/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431799 |
| &nbsp;&nbsp;&nbsp;5.20%, due 6/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272050 |
| Equitable America Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 6/9/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458993 |
| GA Global Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;5.40%, due 1/13/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528235 |
| Lincoln Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 1/13/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341461 |
| RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 11/21/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667450 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2699988 |
| **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.10%, due 5/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310382 |
| **Investment Companies 0.1%** | **Investment Companies 0.1%** | **Investment Companies 0.1%** |
| HPS Corporate Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 9/11/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348198 |
| **Media 0.3%** | **Media 0.3%** | **Media 0.3%** |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.80%, due 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527817 |
| &nbsp;&nbsp;&nbsp;6.384%, due 10/23/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298574 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Media** | **Media** | **Media** |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.20%, due 5/19/32 (e) | &nbsp;&nbsp;&nbsp;$270000 | &nbsp;&nbsp;$251526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077917 |
| **Mining 0.0% ‡** | **Mining 0.0% ‡** | **Mining 0.0% ‡** |
| Newmont Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.35%, due 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 151240 |
| **Oil & Gas 0.4%** | **Oil & Gas 0.4%** | **Oil & Gas 0.4%** |
| EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173943 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100947 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274890 |
| **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.05%, due 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303562 |
| Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.15%, due 12/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198771 |
| Pfizer Investment Enterprises Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 5/19/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166692 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669025 |
| **Pipelines 0.6%** | **Pipelines 0.6%** | **Pipelines 0.6%** |
| Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.927%, due 8/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216881 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, due 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135950 |
| &nbsp;&nbsp;&nbsp;5.75%, due 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162476 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300632 |
| Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601277 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193334 |
| Targa Resources Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584878 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195428 |
| **Real Estate Investment Trusts 0.3%** | **Real Estate Investment Trusts 0.3%** | **Real Estate Investment Trusts 0.3%** |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.10%, due 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446160 |
| CubeSmart LP |  |  |
| &nbsp;&nbsp;&nbsp;2.25%, due 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263669 |
| Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, due 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346772 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056601 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Retail 0.3%** | **Retail 0.3%** | **Retail 0.3%** |
| Home Depot, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;1.875%, due 9/15/31 | &nbsp;&nbsp;&nbsp;$300000 | &nbsp;&nbsp;$262090 |
| &nbsp;&nbsp;&nbsp;4.95%, due 6/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 148477 |
| Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.80%, due 4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 235602 |
| &nbsp;&nbsp;&nbsp;5.00%, due 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 163714 |
| &nbsp;&nbsp;&nbsp;5.15%, due 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 87798 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897681 |
| **Semiconductors 0.3%** | **Semiconductors 0.3%** | **Semiconductors 0.3%** |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.60%, due 2/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83398 |
| &nbsp;&nbsp;&nbsp;5.05%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367148 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 2/10/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231538 |
| &nbsp;&nbsp;&nbsp;5.15%, due 2/21/34 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147014 |
| QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.15%, due 5/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367340 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196438 |
| **Software 0.6%** | **Software 0.6%** | **Software 0.6%** |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.55%, due 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722670 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.95%, due 4/1/30 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362760 |
| &nbsp;&nbsp;&nbsp;4.30%, due 7/8/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229621 |
| &nbsp;&nbsp;&nbsp;4.80%, due 9/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570685 |
| &nbsp;&nbsp;&nbsp;5.50%, due 8/3/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144019 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029755 |
| **Telecommunications 0.4%** | **Telecommunications 0.4%** | **Telecommunications 0.4%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.25%, due 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52528 |
| &nbsp;&nbsp;&nbsp;4.35%, due 3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748309 |
| &nbsp;&nbsp;&nbsp;4.55%, due 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398225 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.10%, due 3/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276614 |
| &nbsp;&nbsp;&nbsp;4.016%, due 12/3/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477662 |
| **Transportation 0.3%** | **Transportation 0.3%** | **Transportation 0.3%** |
| JB Hunt Transport Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336773 |
| Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.80%, due 2/14/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173954 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Transportation** | **Transportation** | **Transportation** |
| United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.45%, due 4/1/30 | &nbsp;&nbsp;&nbsp;$170000 | &nbsp;&nbsp;$172878 |
| &nbsp;&nbsp;&nbsp;5.15%, due 5/22/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 301207 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984812 |
| Total Corporate Bonds<br> (Cost $44,683,290) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45781931 |
| **Mortgage-Backed Securities 0.2%** | **Mortgage-Backed Securities 0.2%** | **Mortgage-Backed Securities 0.2%** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligation) 0.1%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligation) 0.1%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligation) 0.1%** |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-GC46, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;2.717%, due 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462416 |
| **Whole Loan (Collateralized Mortgage Obligation) 0.1%** | **Whole Loan (Collateralized Mortgage Obligation) 0.1%** | **Whole Loan (Collateralized Mortgage Obligation) 0.1%** |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-NQM8, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;6.394%, due 10/25/63 (a)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341077 |
| Total Mortgage-Backed Securities<br> (Cost $850,625) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803493 |
| **U.S. Government & Federal Agencies 16.5%** | **U.S. Government & Federal Agencies 16.5%** | **U.S. Government & Federal Agencies 16.5%** |
| **United States Treasury Notes 16.5%** | **United States Treasury Notes 16.5%** | **United States Treasury Notes 16.5%** |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 8/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24999024 |
| &nbsp;&nbsp;&nbsp;3.625%, due 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10875000 |
| &nbsp;&nbsp;&nbsp;3.625%, due 8/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7113133 |
| &nbsp;&nbsp;&nbsp;4.00%, due 6/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10076691 |
| &nbsp;&nbsp;&nbsp;4.25%, due 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4219003 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57282851 |
| Total U.S. Government & Federal Agencies<br> (Cost $57,233,397) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57282851 |
| Total Long-Term Bonds<br> (Cost $104,248,033) |  | &nbsp;&nbsp;&nbsp;&nbsp;105338904 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Common Stocks 58.2%** | **Common Stocks 58.2%** | **Common Stocks 58.2%** |
| **Aerospace & Defense 1.2%** | **Aerospace & Defense 1.2%** | **Aerospace & Defense 1.2%** |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4097381 |
| **Automobile Components 0.9%** | **Automobile Components 0.9%** | **Automobile Components 0.9%** |
| Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112774 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Banks 5.3%** | **Banks 5.3%** | **Banks 5.3%** |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 27531 | &nbsp;&nbsp;$8684103 |
| M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16589 | &nbsp;&nbsp;&nbsp;&nbsp; 3278318 |
| PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 16849 | &nbsp;&nbsp;&nbsp;&nbsp; 3385470 |
| Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 117169 | &nbsp;&nbsp;&nbsp;&nbsp; 3089747 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18437638 |
| **Beverages 0.6%** | **Beverages 0.6%** | **Beverages 0.6%** |
| Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 87007 | &nbsp;&nbsp;&nbsp;&nbsp; 2219549 |
| **Biotechnology 1.0%** | **Biotechnology 1.0%** | **Biotechnology 1.0%** |
| Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 29749 | &nbsp;&nbsp;&nbsp;&nbsp; 3302139 |
| **Building Products 0.9%** | **Building Products 0.9%** | **Building Products 0.9%** |
| Johnson Controls International plc | &nbsp;&nbsp;&nbsp;&nbsp; 28451 | &nbsp;&nbsp;&nbsp;&nbsp; 3128187 |
| **Capital Markets 4.9%** | **Capital Markets 4.9%** | **Capital Markets 4.9%** |
| Ares Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11451 | &nbsp;&nbsp;&nbsp;&nbsp; 1830900 |
| KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22281 | &nbsp;&nbsp;&nbsp;&nbsp; 2895416 |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9093 | &nbsp;&nbsp;&nbsp;&nbsp; 3025150 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 21508 | &nbsp;&nbsp;&nbsp;&nbsp; 3418912 |
| Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2624931 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3335495 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17130804 |
| **Chemicals 0.6%** | **Chemicals 0.6%** | **Chemicals 0.6%** |
| Axalta Coating Systems Ltd. (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004802 |
| **Communications Equipment 1.9%** | **Communications Equipment 1.9%** | **Communications Equipment 1.9%** |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4397559 |
| F5, Inc. (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2262976 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6660535 |
| **Consumer Staples Distribution & Retail 0.9%** | **Consumer Staples Distribution & Retail 0.9%** | **Consumer Staples Distribution & Retail 0.9%** |
| U.S. Foods Holding Corp. (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059360 |
| **Diversified Consumer Services 0.8%** | **Diversified Consumer Services 0.8%** | **Diversified Consumer Services 0.8%** |
| H&R Block, Inc. (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2693662 |
| **Electric Utilities 0.8%** | **Electric Utilities 0.8%** | **Electric Utilities 0.8%** |
| American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948850 |
| **Electrical Equipment 0.9%** | **Electrical Equipment 0.9%** | **Electrical Equipment 0.9%** |
| Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3005203 |
| **Electronic Equipment, Instruments & Components 0.7%** | **Electronic Equipment, Instruments & Components 0.7%** | **Electronic Equipment, Instruments & Components 0.7%** |
| Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2572297 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Food Products 1.0%** | **Food Products 1.0%** | **Food Products 1.0%** |
| Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp; 60080 | &nbsp;&nbsp;$3589179 |
| **Gas Utilities 0.9%** | **Gas Utilities 0.9%** | **Gas Utilities 0.9%** |
| Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 18448 | &nbsp;&nbsp;&nbsp;&nbsp; 3149996 |
| **Ground Transportation 0.6%** | **Ground Transportation 0.6%** | **Ground Transportation 0.6%** |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 51477 | &nbsp;&nbsp;&nbsp;&nbsp; 2033856 |
| **Health Care Providers & Services 2.5%** | **Health Care Providers & Services 2.5%** | **Health Care Providers & Services 2.5%** |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11014 | &nbsp;&nbsp;&nbsp;&nbsp; 3558843 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15116 | &nbsp;&nbsp;&nbsp;&nbsp; 5219555 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8778398 |
| **Hotels, Restaurants & Leisure 0.5%** | **Hotels, Restaurants & Leisure 0.5%** | **Hotels, Restaurants & Leisure 0.5%** |
| Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 20919 | &nbsp;&nbsp;&nbsp;&nbsp; 1769747 |
| **Industrial Conglomerates 0.8%** | **Industrial Conglomerates 0.8%** | **Industrial Conglomerates 0.8%** |
| 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp; 17013 | &nbsp;&nbsp;&nbsp;&nbsp; 2640077 |
| **Insurance 4.2%** | **Insurance 4.2%** | **Insurance 4.2%** |
| American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 47006 | &nbsp;&nbsp;&nbsp;&nbsp; 3691851 |
| Chubb Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 11084 | &nbsp;&nbsp;&nbsp;&nbsp; 3128459 |
| Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3265391 |
| MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3643060 |
| Progressive Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010766 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14739527 |
| **Interactive Media & Services 2.7%** | **Interactive Media & Services 2.7%** | **Interactive Media & Services 2.7%** |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9449740 |
| **IT Services 0.9%** | **IT Services 0.9%** | **IT Services 0.9%** |
| Amdocs Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250985 |
| **Machinery 1.7%** | **Machinery 1.7%** | **Machinery 1.7%** |
| Middleby Corp. (The) (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2356450 |
| PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450737 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5807187 |
| **Metals & Mining 0.8%** | **Metals & Mining 0.8%** | **Metals & Mining 0.8%** |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2759833 |
| **Multi-Utilities 2.0%** | **Multi-Utilities 2.0%** | **Multi-Utilities 2.0%** |
| Sempra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4039202 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790381 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6829583 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Oil, Gas & Consumable Fuels 4.6%** | **Oil, Gas & Consumable Fuels 4.6%** | **Oil, Gas & Consumable Fuels 4.6%** |
| Antero Resources Corp. (g) | &nbsp;&nbsp;&nbsp;&nbsp; 97305 | &nbsp;&nbsp;$3265556 |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp; 37285 | &nbsp;&nbsp;&nbsp;&nbsp; 3526788 |
| Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 123289 | &nbsp;&nbsp;&nbsp;&nbsp; 2915785 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16787 | &nbsp;&nbsp;&nbsp;&nbsp; 3235526 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 18976 | &nbsp;&nbsp;&nbsp;&nbsp; 3179239 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16122894 |
| **Personal Care Products 0.7%** | **Personal Care Products 0.7%** | **Personal Care Products 0.7%** |
| Unilever plc, Sponsored ADR (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 43596 | &nbsp;&nbsp;&nbsp;&nbsp; 2584371 |
| **Pharmaceuticals 6.2%** | **Pharmaceuticals 6.2%** | **Pharmaceuticals 6.2%** |
| AstraZeneca plc, Sponsored ADR (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 26706 | &nbsp;&nbsp;&nbsp;&nbsp; 2048884 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 3452 | &nbsp;&nbsp;&nbsp;&nbsp; 2633876 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp; 32298 | &nbsp;&nbsp;&nbsp;&nbsp; 5988695 |
| Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 58395 | &nbsp;&nbsp;&nbsp;&nbsp; 4901093 |
| Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 153068 | &nbsp;&nbsp;&nbsp;&nbsp; 3900173 |
| Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp; 6096 | &nbsp;&nbsp;&nbsp;&nbsp; 2006384 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21479105 |
| **Semiconductors & Semiconductor Equipment 1.5%** | **Semiconductors & Semiconductor Equipment 1.5%** | **Semiconductors & Semiconductor Equipment 1.5%** |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903911 |
| NXP Semiconductors NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3228528 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5132439 |
| **Specialized REITs 1.8%** | **Specialized REITs 1.8%** | **Specialized REITs 1.8%** |
| Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3507315 |
| Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2906693 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6414008 |
| **Specialty Retail 1.8%** | **Specialty Retail 1.8%** | **Specialty Retail 1.8%** |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024636 |
| Industria de Diseno Textil SA, ADR (Spain) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3147396 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6172032 |
| **Technology Hardware, Storage & Peripherals 0.8%** | **Technology Hardware, Storage & Peripherals 0.8%** | **Technology Hardware, Storage & Peripherals 0.8%** |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2698756 |
| **Wireless Telecommunication Services 0.8%** | **Wireless Telecommunication Services 0.8%** | **Wireless Telecommunication Services 0.8%** |
| T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2873278 |
| Total Common Stocks<br> (Cost $162,717,515) |  | &nbsp;&nbsp;&nbsp;&nbsp;202648172 |
| **Exchange-Traded Funds 8.7%** | **Exchange-Traded Funds 8.7%** | **Exchange-Traded Funds 8.7%** |
| iShares Intermediate Government/Credit Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13684573 |
| Vanguard Intermediate-Term Treasury ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12477356 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Exchange-Traded Funds** | **Exchange-Traded Funds** | **Exchange-Traded Funds** |
| Vanguard Russell 1000 Value | &nbsp;&nbsp;&nbsp;&nbsp; 47393 | &nbsp;&nbsp;$4235512 |
| Total Exchange-Traded Funds<br> (Cost $28,977,990) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30397441 |
| **Short-Term Investments 2.6%** | **Short-Term Investments 2.6%** | **Short-Term Investments 2.6%** |
| **Affiliated Investment Company 1.9%** | **Affiliated Investment Company 1.9%** | **Affiliated Investment Company 1.9%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (h) | &nbsp;&nbsp;&nbsp;&nbsp; 6576801 | &nbsp;&nbsp;&nbsp;&nbsp; 6576801 |
| **Unaffiliated Investment Company 0.7%** | **Unaffiliated Investment Company 0.7%** | **Unaffiliated Investment Company 0.7%** |
| Invesco Government & Agency Portfolio, 4.131% (h)(i) | &nbsp;&nbsp;&nbsp;&nbsp; 2395925 | &nbsp;&nbsp;&nbsp;&nbsp; 2395925 |
| Total Short-Term Investments<br> (Cost $8,972,726) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8972726 |
| Total Investments<br> (Cost $304,916,264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.8% | &nbsp;&nbsp;&nbsp;&nbsp;347357243 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830634 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$348187877 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (c) | Fixed to floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (d) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (e) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $2,300,201. The Portfolio received cash collateral with a value of $2,395,925. |
| (f) | Step coupon—Rate shown was the rate in effect as of September 30, 2025. |
| (g) | Non-income producing security. |
| (h) | Current yield as of September 30, 2025. |
| (i) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$3731 | &nbsp;&nbsp;$35568 | &nbsp;&nbsp;$(32722) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$6577 | &nbsp;&nbsp;$85 | &nbsp;&nbsp;$— | &nbsp;&nbsp;6577 |

---

------

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts<sup>1</sup>:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>2</sup>** |
| **Long Contracts** |  |  |  |  |  |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $6880385 | &nbsp;&nbsp; $6879305 | &nbsp;&nbsp; $(1080) |
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1126873 | &nbsp;&nbsp;&nbsp;&nbsp; 1125000 | &nbsp;&nbsp;&nbsp;&nbsp; (1873) |
| Total Long Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2953) |
| **Short Contracts** |  |  |  |  |  |
| U.S. Treasury 2 Year Notes | &nbsp;&nbsp;&nbsp;&nbsp;(1) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (208421) | &nbsp;&nbsp;&nbsp;&nbsp; (208399) | &nbsp;&nbsp;&nbsp;&nbsp; 22 |
| U.S. Treasury 10 Year Ultra Bonds | &nbsp;&nbsp;(16) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1854645) | &nbsp;&nbsp;&nbsp;&nbsp; (1841250) | &nbsp;&nbsp;&nbsp;&nbsp; 13395 |
| Total Short Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13417 |
| Net Unrealized Appreciation |  |  |  |  | &nbsp;&nbsp;$10464 |

---

1. As of September 30, 2025, cash in the amount of $71,111 was on deposit with a broker or futures commission merchant for futures transactions.

2. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| ADR—American Depositary Receipt |
| CLO—Collateralized Loan Obligation |
| ETF—Exchange-Traded Fund |
| REIT—Real Estate Investment Trust |
| SOFR—Secured Overnight Financing Rate |

---

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1470629 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp; $1470629 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 45781931 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 45781931 |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 803493 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 803493 |
| &nbsp;&nbsp;&nbsp;U.S. Government & Federal Agencies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 57282851 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 57282851 |
| Total Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;105338904 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;105338904 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp; 19472721 | &nbsp;&nbsp;&nbsp;&nbsp; 2006384 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 21479105 |
| &nbsp;&nbsp;&nbsp;All Other Industries | &nbsp;&nbsp;&nbsp;&nbsp; 181169067 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 181169067 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;200641788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2006384 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;202648172 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp; 30397441 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 30397441 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 6576801 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 6576801 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 2395925 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2395925 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8972726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8972726 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;240011955 | &nbsp;&nbsp;&nbsp;&nbsp;107345288 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;347357243 |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; 13417 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 13417 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$240025372 | &nbsp;&nbsp;$107345288 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$347370660 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2953) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2953) |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP Bond Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 98.5%** | **Long-Term Bonds 98.5%** | **Long-Term Bonds 98.5%** |
| **Asset-Backed Securities 6.7%** | **Asset-Backed Securities 6.7%** | **Asset-Backed Securities 6.7%** |
| **Home Equity Asset-Backed Securities 0.1%** | **Home Equity Asset-Backed Securities 0.1%** | **Home Equity Asset-Backed Securities 0.1%** |
| J.P. Morgan Mortgage Acquisition Trust | J.P. Morgan Mortgage Acquisition Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2007-CH2, Class AF3 |  |  |
| &nbsp;&nbsp;&nbsp;4.166%, due 10/25/30 (a) | &nbsp;&nbsp;&nbsp;$370771 | &nbsp;&nbsp;$183252 |
| Morgan Stanley Mortgage Loan Trust | Morgan Stanley Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-17XS, Class A3A |  |  |
| &nbsp;&nbsp;&nbsp;6.151%, due 10/25/46 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 724056 | &nbsp;&nbsp;&nbsp;&nbsp; 201424 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384676 |
| **Other Asset-Backed Securities 6.6%** | **Other Asset-Backed Securities 6.6%** | **Other Asset-Backed Securities 6.6%** |
| Ballyrock CLO 23 Ltd. | Ballyrock CLO 23 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2023-23A, Class A2R |  |  |
| &nbsp;&nbsp;&nbsp;6.268% (3 Month SOFR + 1.95%), due 4/25/38 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2515130 |
| Benefit Street Partners CLO XXXVII Ltd. | Benefit Street Partners CLO XXXVII Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-37A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.668% (3 Month SOFR + 1.35%), due 1/25/38 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2507612 |
| Capital Automotive REIT | Capital Automotive REIT |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 5/15/54 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713261 |
| Cars Net Lease Mortgage Notes | Cars Net Lease Mortgage Notes |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;2.48%, due 12/15/50 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1703948 |
| CARS-DB7 LP | CARS-DB7 LP |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 9/15/53 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1712813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731641 |
| Cedar Funding XIX CLO Ltd. | Cedar Funding XIX CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-19A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.019% (3 Month SOFR + 1.70%), due 1/23/38 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005356 |
| Cloud Capital Holdco LP | Cloud Capital Holdco LP |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.781%, due 11/22/49 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2031656 |
| College Ave Student Loans LLC (b) | College Ave Student Loans LLC (b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.69%, due 8/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2199205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257792 |
| &nbsp;&nbsp;&nbsp;Series 2023-A, Class C |  |  |
| &nbsp;&nbsp;&nbsp;6.06%, due 5/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826606 |
| CyrusOne Data Centers Issuer I LLC (b) | CyrusOne Data Centers Issuer I LLC (b) |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, due 4/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2699833 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.91%, due 2/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2298742 |
| Mosaic Solar Loan Trust | Mosaic Solar Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;7.12%, due 8/22/50 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735631 |
| Navient Private Education Refi Loan Trust | Navient Private Education Refi Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-DA, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/15/60 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084449 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| Owl Rock CLO XIV LLC | Owl Rock CLO XIV LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2023-14A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.725% (3 Month SOFR + 2.40%), due 10/20/35 (b)(c) | &nbsp;&nbsp;&nbsp;$2500000 | &nbsp;&nbsp;$2504573 |
| Sabey Data Center Issuer LLC | Sabey Data Center Issuer LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.733%, due 2/21/50 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2041462 |
| Sunnova Helios XIII Issuer LLC | Sunnova Helios XIII Issuer LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 2/20/51 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277679 |
| Sunnova Helios XIV Issuer LLC | Sunnova Helios XIV Issuer LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.15%, due 5/22/51 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850303 |
| Voya CLO Ltd. | Voya CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-4A, Class BR |  |  |
| &nbsp;&nbsp;&nbsp;6.275% (3 Month SOFR + 1.95%), due 4/20/37 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005140 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37790814 |
| Total Asset-Backed Securities<br> (Cost $38,111,669) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38175490 |
| **Corporate Bonds 39.8%** | **Corporate Bonds 39.8%** | **Corporate Bonds 39.8%** |
| **Aerospace & Defense 0.8%** | **Aerospace & Defense 0.8%** | **Aerospace & Defense 0.8%** |
| BAE Systems plc (b) |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 3/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421160 |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/26/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436045 |
| General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 1/29/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1672989 |
| RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.40%, due 3/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370546 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900740 |
| **Auto Manufacturers 2.5%** | **Auto Manufacturers 2.5%** | **Auto Manufacturers 2.5%** |
| Daimler Truck Finance North America LLC (b) |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 1/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154281 |
| &nbsp;&nbsp;&nbsp;5.625%, due 1/13/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805800 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.542%, due 8/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1868402 |
| &nbsp;&nbsp;&nbsp;5.73%, due 9/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016462 |
| &nbsp;&nbsp;&nbsp;5.875%, due 11/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503622 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.05%, due 10/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3296208 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 6/23/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4024595 |
| Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, due 9/11/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476133 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14145503 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Banks 11.2%** | **Banks 11.2%** | **Banks 11.2%** |
| ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;6.339% (1 Year Treasury Constant Maturity Rate + 1.65%), due 9/18/27 (b)(c) | &nbsp;&nbsp;&nbsp;$1655000 | &nbsp;&nbsp;$1687171 |
| Bank of America Corp. (d) |  |  |
| &nbsp;&nbsp;&nbsp;1.734%, due 7/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3345000 | &nbsp;&nbsp;&nbsp;&nbsp; 3278195 |
| &nbsp;&nbsp;&nbsp;2.087%, due 6/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1590000 | &nbsp;&nbsp;&nbsp;&nbsp; 1506092 |
| &nbsp;&nbsp;&nbsp;5.511%, due 1/24/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1180000 | &nbsp;&nbsp;&nbsp;&nbsp; 1233469 |
| &nbsp;&nbsp;&nbsp;5.518%, due 10/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2005000 | &nbsp;&nbsp;&nbsp;&nbsp; 2053719 |
| Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;5.95% (5 Year Treasury Constant Maturity Rate + 2.271%), due 12/20/30 (c)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022330 |
| &nbsp;&nbsp;&nbsp;6.474%, due 10/25/34 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808072 |
| Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;5.335%, due 9/10/35 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653532 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;5.786%, due 1/13/33 (b)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020335 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.592% (5 Year Treasury Constant Maturity Rate + 1.28%), due 11/19/34 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828867 |
| &nbsp;&nbsp;&nbsp;6.174%, due 5/25/34 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744982 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.645%, due 4/25/35 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188334 |
| Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;4.655% (1 Year Treasury Constant Maturity Rate + 1.75%), due 8/22/28 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507543 |
| Goldman Sachs Group, Inc. (The) (d) |  |  |
| &nbsp;&nbsp;&nbsp;5.218%, due 4/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132346 |
| &nbsp;&nbsp;&nbsp;5.536%, due 1/28/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782883 |
| &nbsp;&nbsp;&nbsp;5.734%, due 1/28/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388789 |
| &nbsp;&nbsp;&nbsp;6.484%, due 10/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952769 |
| HSBC Holdings plc (d) |  |  |
| &nbsp;&nbsp;&nbsp;5.741%, due 9/10/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795747 |
| &nbsp;&nbsp;&nbsp;7.39%, due 11/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564882 |
| JPMorgan Chase & Co. (d) |  |  |
| &nbsp;&nbsp;&nbsp;5.103%, due 4/22/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311149 |
| &nbsp;&nbsp;&nbsp;5.572%, due 4/22/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2540200 |
| &nbsp;&nbsp;&nbsp;5.576%, due 7/23/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451355 |
| KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 8/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248187 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;5.121%, due 4/4/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2356488 |
| Morgan Stanley (d) |  |  |
| &nbsp;&nbsp;&nbsp;5.32%, due 7/19/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758409 |
| &nbsp;&nbsp;&nbsp;5.466%, due 1/18/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885313 |
| &nbsp;&nbsp;&nbsp;5.831%, due 4/19/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762221 |
| Morgan Stanley Private Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;4.734%, due 7/18/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044800 |
| National Securities Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/30/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527071 |
| PNC Financial Services Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;5.373%, due 7/21/36 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638022 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Banks** | **Banks** | **Banks** |
| Toronto-Dominion Bank (The) (c) |  |  |
| &nbsp;&nbsp;&nbsp;5.146% (5 Year Treasury Constant Maturity Rate + 1.50%), due 9/10/34 | &nbsp;&nbsp;&nbsp;$1310000 | &nbsp;&nbsp;$1325963 |
| &nbsp;&nbsp;&nbsp;6.35% (5 Year Treasury Constant Maturity Rate + 2.721%), due 10/31/85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2005000 |
| Truist Bank |  |  |
| &nbsp;&nbsp;&nbsp;4.632% (5 Year Treasury Constant Maturity Rate + 1.15%), due 9/17/29 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1005000 | &nbsp;&nbsp;&nbsp;&nbsp; 1012513 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.122%, due 1/26/34 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 838200 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;6.787%, due 10/26/27 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622331 |
| UBS Group AG (b) |  |  |
| &nbsp;&nbsp;&nbsp;5.428% (1 Year Treasury Constant Maturity Rate + 1.52%), due 2/8/30 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826551 |
| &nbsp;&nbsp;&nbsp;5.58%, due 5/9/36 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629749 |
| &nbsp;&nbsp;&nbsp;6.442%, due 8/11/28 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501408 |
| &nbsp;&nbsp;&nbsp;6.60% (5 Year SOFR + 3.122%), due 8/5/30 (c)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743960 |
| Wells Fargo & Co. (d) |  |  |
| &nbsp;&nbsp;&nbsp;4.97%, due 4/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840709 |
| &nbsp;&nbsp;&nbsp;5.15%, due 4/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2459653 |
| &nbsp;&nbsp;&nbsp;5.605%, due 4/23/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1673874 |
| Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.618% (1 Year Treasury Constant Maturity Rate + 1.20%), due 11/20/35 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721793 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63874976 |
| **Beverages 1.3%** | **Beverages 1.3%** | **Beverages 1.3%** |
| Anheuser-Busch Cos. LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720731 |
| Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 1/23/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1789594 |
| Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 5/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609909 |
| Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.60%, due 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190774 |
| PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, due 10/21/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894903 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7205911 |
| **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539561 |
| **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** |
| Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807417 |
| **Diversified Financial Services 1.5%** | **Diversified Financial Services 1.5%** | **Diversified Financial Services 1.5%** |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 9/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371916 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.992%, due 6/13/29 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847751 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Diversified Financial Services** | **Diversified Financial Services** | **Diversified Financial Services** |
| Ares Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 11/10/28 | &nbsp;&nbsp;&nbsp;$1750000 | &nbsp;&nbsp;$1850688 |
| Blackstone Holdings Finance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.90%, due 11/3/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3103710 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.183%, due 1/30/36 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 430502 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8604567 |
| **Electric 5.7%** | **Electric 5.7%** | **Electric 5.7%** |
| AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.85%, due 10/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786469 |
| Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862881 |
| Baltimore Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.40%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495707 |
| Dayton Power & Light Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;3.95%, due 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377894 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.45%, due 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883523 |
| Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.45%, due 4/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669747 |
| Duke Energy Ohio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212312 |
| &nbsp;&nbsp;&nbsp;5.30%, due 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4382639 |
| Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752709 |
| Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 9/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1531604 |
| Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.05%, due 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2616659 |
| Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, due 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124460 |
| &nbsp;&nbsp;&nbsp;4.95%, due 5/17/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769862 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.05%, due 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380461 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.50% (5 Year Treasury Constant Maturity Rate + 1.979%), due 8/15/55 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635560 |
| NSTAR Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.55%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920724 |
| Oklahoma Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.60%, due 4/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469332 |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484408 |
| &nbsp;&nbsp;&nbsp;6.10%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706122 |
| &nbsp;&nbsp;&nbsp;6.15%, due 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486861 |
| &nbsp;&nbsp;&nbsp;6.15%, due 3/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553129 |
| &nbsp;&nbsp;&nbsp;6.40%, due 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333233 |
| &nbsp;&nbsp;&nbsp;6.75%, due 1/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430979 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Electric** | **Electric** | **Electric** |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.95%, due 3/15/34 | &nbsp;&nbsp;&nbsp;$600000 | &nbsp;&nbsp;$665515 |
| PECO Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1255000 | &nbsp;&nbsp;&nbsp;&nbsp; 1281665 |
| Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1380000 | &nbsp;&nbsp;&nbsp;&nbsp; 1409628 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 760000 | &nbsp;&nbsp;&nbsp;&nbsp; 773635 |
| &nbsp;&nbsp;&nbsp;5.95%, due 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442632 |
| Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 10/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770061 |
| &nbsp;&nbsp;&nbsp;5.70%, due 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391791 |
| Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.05%, due 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530584 |
| Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217657 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32350443 |
| **Electronics 0.2%** | **Electronics 0.2%** | **Electronics 0.2%** |
| Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765227 |
| &nbsp;&nbsp;&nbsp;5.375%, due 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414855 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180082 |
| **Forest Products & Paper 0.4%** | **Forest Products & Paper 0.4%** | **Forest Products & Paper 0.4%** |
| Georgia-Pacific LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 6/30/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2349415 |
| **Gas 0.2%** | **Gas 0.2%** | **Gas 0.2%** |
| NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.65%, due 2/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587698 |
| Southwest Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 3/23/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457149 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044847 |
| **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.90%, due 4/30/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490909 |
| **Healthcare-Services 0.4%** | **Healthcare-Services 0.4%** | **Healthcare-Services 0.4%** |
| Cigna Group (The) |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 12/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484754 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905316 |
| &nbsp;&nbsp;&nbsp;4.625%, due 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70189 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.05%, due 2/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322004 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Home Furnishings 0.4%** | **Home Furnishings 0.4%** | **Home Furnishings 0.4%** |
| Leggett & Platt, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.40%, due 3/15/29 | &nbsp;&nbsp;&nbsp;$2455000 | &nbsp;&nbsp;$2417305 |
| **Insurance 3.1%** | **Insurance 3.1%** | **Insurance 3.1%** |
| 200 Park Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;5.74%, due 2/15/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 658293 |
| CNA Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805000 | &nbsp;&nbsp;&nbsp;&nbsp; 812341 |
| Corebridge Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.35%, due 4/5/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164012 |
| Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 1/12/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292647 |
| Equitable America Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 6/9/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2447960 |
| GA Global Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;5.90%, due 1/13/35 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1623616 |
| Lincoln Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 1/13/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857338 |
| Metropolitan Life Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 3/28/33 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973757 |
| Pacific Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.95%, due 9/15/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1818723 |
| Pine Street Trust III |  |  |
| &nbsp;&nbsp;&nbsp;6.223%, due 5/15/54 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865348 |
| Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.935%, due 12/7/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177687 |
| RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 11/21/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3857547 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17549269 |
| **Internet 0.5%** | **Internet 0.5%** | **Internet 0.5%** |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.10%, due 5/12/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660905 |
| &nbsp;&nbsp;&nbsp;3.95%, due 4/13/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527238 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.45%, due 8/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764219 |
| &nbsp;&nbsp;&nbsp;5.55%, due 8/15/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794122 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2746484 |
| **Investment Companies 0.3%** | **Investment Companies 0.3%** | **Investment Companies 0.3%** |
| HPS Corporate Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 9/11/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989703 |
| **Media 0.6%** | **Media 0.6%** | **Media 0.6%** |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.80%, due 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902252 |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/1/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022355 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Media** | **Media** | **Media** |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.60%, due 10/15/38 | &nbsp;&nbsp;&nbsp;$740000 | &nbsp;&nbsp;$697233 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, due 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 780000 | &nbsp;&nbsp;&nbsp;&nbsp; 634891 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256731 |
| **Mining 0.2%** | **Mining 0.2%** | **Mining 0.2%** |
| BHP Billiton Finance USA Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 9/5/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1039388 |
| **Oil & Gas 1.2%** | **Oil & Gas 1.2%** | **Oil & Gas 1.2%** |
| EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340385 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022755 |
| &nbsp;&nbsp;&nbsp;6.45%, due 9/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7128260 |
| **Pharmaceuticals 0.3%** | **Pharmaceuticals 0.3%** | **Pharmaceuticals 0.3%** |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.05%, due 11/21/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120816 |
| &nbsp;&nbsp;&nbsp;5.05%, due 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726094 |
| **Pipelines 2.6%** | **Pipelines 2.6%** | **Pipelines 2.6%** |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234391 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894523 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.80%, due 2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348046 |
| Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367879 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508255 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992413 |
| &nbsp;&nbsp;&nbsp;5.70%, due 11/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476755 |
| &nbsp;&nbsp;&nbsp;5.85%, due 1/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1619337 |
| Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3166726 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483335 |
| Targa Resources Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3075000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3127828 |
| Williams Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, due 3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505453 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14724941 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Real Estate Investment Trusts 0.5%** | **Real Estate Investment Trusts 0.5%** | **Real Estate Investment Trusts 0.5%** |
| Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, due 2/1/28 | &nbsp;&nbsp;&nbsp;$1950000 | &nbsp;&nbsp;$1852618 |
| &nbsp;&nbsp;&nbsp;5.125%, due 10/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 961067 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2813685 |
| **Retail 0.6%** | **Retail 0.6%** | **Retail 0.6%** |
| Home Depot, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;3.30%, due 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1032465 |
| &nbsp;&nbsp;&nbsp;4.95%, due 9/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1070000 | &nbsp;&nbsp;&nbsp;&nbsp; 998394 |
| Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575814 |
| &nbsp;&nbsp;&nbsp;5.15%, due 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464813 |
| &nbsp;&nbsp;&nbsp;5.75%, due 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232127 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3303613 |
| **Semiconductors 0.9%** | **Semiconductors 0.9%** | **Semiconductors 0.9%** |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.60%, due 2/15/33 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430156 |
| &nbsp;&nbsp;&nbsp;3.137%, due 11/15/35 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800278 |
| &nbsp;&nbsp;&nbsp;3.469%, due 4/15/34 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762022 |
| &nbsp;&nbsp;&nbsp;5.05%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980534 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 2/21/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912500 |
| QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225194 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5110684 |
| **Software 1.5%** | **Software 1.5%** | **Software 1.5%** |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.55%, due 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3738811 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.95%, due 4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1267306 |
| &nbsp;&nbsp;&nbsp;3.95%, due 3/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267663 |
| &nbsp;&nbsp;&nbsp;5.50%, due 8/3/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1522485 |
| &nbsp;&nbsp;&nbsp;5.55%, due 2/6/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804291 |
| &nbsp;&nbsp;&nbsp;5.95%, due 9/26/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847385 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8447941 |
| **Telecommunications 1.5%** | **Telecommunications 1.5%** | **Telecommunications 1.5%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.25%, due 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483902 |
| &nbsp;&nbsp;&nbsp;3.50%, due 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404646 |
| &nbsp;&nbsp;&nbsp;3.55%, due 9/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549227 |
| &nbsp;&nbsp;&nbsp;3.80%, due 12/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395742 |
| &nbsp;&nbsp;&nbsp;4.55%, due 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991127 |
| Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 2/26/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858773 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392059 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Telecommunications** | **Telecommunications** | **Telecommunications** |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/10/33 | &nbsp;&nbsp;&nbsp;$705000 | &nbsp;&nbsp;$694801 |
| &nbsp;&nbsp;&nbsp;5.05%, due 5/9/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285000 | &nbsp;&nbsp;&nbsp;&nbsp; 1314939 |
| &nbsp;&nbsp;&nbsp;5.25%, due 4/2/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 755000 | &nbsp;&nbsp;&nbsp;&nbsp; 767770 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8852986 |
| **Transportation 0.6%** | **Transportation 0.6%** | **Transportation 0.6%** |
| Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 359880 |
| JB Hunt Transport Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1815000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852254 |
| United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 3/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396781 |
| &nbsp;&nbsp;&nbsp;5.50%, due 5/22/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743145 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3352060 |
| **Water 0.5%** | **Water 0.5%** | **Water 0.5%** |
| American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.70%, due 9/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716887 |
| Total Corporate Bonds<br> (Cost $222,674,282) |  | &nbsp;&nbsp;&nbsp;&nbsp;226992406 |
| **Mortgage-Backed Securities 12.4%** | **Mortgage-Backed Securities 12.4%** | **Mortgage-Backed Securities 12.4%** |
| **Agency (Collateralized Mortgage Obligations) 5.7%** | **Agency (Collateralized Mortgage Obligations) 5.7%** | **Agency (Collateralized Mortgage Obligations) 5.7%** |
| FHLMC | FHLMC |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5387, Class ZQ |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1908849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918453 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5427, Class Z |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2142000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144830 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5517, Class MT |  |  |
| &nbsp;&nbsp;&nbsp;6.639% (SOFR 30A + 2.283%), due 3/25/55 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2558141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559996 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5557, Class UM |  |  |
| &nbsp;&nbsp;&nbsp;7.872% (SOFR 30A + 4.14%), due 6/25/55 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2165518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2191252 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5517, Class MA |  |  |
| &nbsp;&nbsp;&nbsp;7.906% (SOFR 30A + 3.55%), due 3/25/55 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2277680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2273644 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5513, Class MQ |  |  |
| &nbsp;&nbsp;&nbsp;8.082% (SOFR 30A + 3.95%), due 6/25/54 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2735559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781777 |
| FNMA | FNMA |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-7, Class HB |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2289544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2323390 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-43, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282507 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-35, Class MT |  |  |
| &nbsp;&nbsp;&nbsp;7.932% (SOFR 30A + 5.00%), due 5/25/55 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2561470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2628926 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-12, Class ET |  |  |
| &nbsp;&nbsp;&nbsp;8.656% (SOFR 30A + 4.30%), due 3/25/55 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2045236 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| GNMA | GNMA |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-104, Class BI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/20/51 (f) | &nbsp;&nbsp;&nbsp;$13185921 | &nbsp;&nbsp;$2621883 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-40, Class DL |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2504572 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-111, Class ZL |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 8/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1982392 | &nbsp;&nbsp;&nbsp;&nbsp; 2027559 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-41, Class MB |  |  |
| &nbsp;&nbsp;&nbsp;6.789% (SOFR 30A + 2.40%), due 11/20/54 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2137354 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32441379 |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 4.7%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 4.7%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 4.7%** |
| 225 Liberty Street Trust | 225 Liberty Street Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2016-225L, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.597%, due 2/10/36 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1959982 |
| BWAY Mortgage Trust | BWAY Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2013-1515, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;3.454%, due 3/10/33 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1841536 |
| BX Trust | BX Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-VLT7, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.85% (1 Month SOFR + 1.70%), due 7/15/44 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1871334 |
| FNMA, ACES | FNMA, ACES |  |
| &nbsp;&nbsp;&nbsp;Series 2019-M12, Class X3 |  |  |
| &nbsp;&nbsp;&nbsp;0.718%, due 6/25/29 (f)(g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583528 |
| GNMA (f) | GNMA (f) |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-156, Class HI |  |  |
| &nbsp;&nbsp;&nbsp;0.69%, due 1/16/62 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47895561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381319 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-32 |  |  |
| &nbsp;&nbsp;&nbsp;0.70%, due 6/16/63 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45358151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2268261 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-106 |  |  |
| &nbsp;&nbsp;&nbsp;0.856%, due 4/16/63 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38856207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2568201 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-21 |  |  |
| &nbsp;&nbsp;&nbsp;0.951%, due 4/16/65 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38747359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625103 |
| GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-MARK, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.941% (1 Month SOFR + 1.791%), due 6/15/34 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1999357 |
| ORL Trust | ORL Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-GLKS, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.042% (1 Month SOFR + 1.892%), due 12/15/39 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501563 |
| SHR Trust | SHR Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-LXRY, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.10% (1 Month SOFR + 1.95%), due 10/15/41 (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2753438 |
| VLS Commercial Mortgage Trust | VLS Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2020-LAB, Class A |  |  |
| &nbsp;&nbsp;&nbsp;2.13%, due 10/10/42 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2136567 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26490189 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations) 2.0%** | **Whole Loan (Collateralized Mortgage Obligations) 2.0%** | **Whole Loan (Collateralized Mortgage Obligations) 2.0%** |
| A&D Mortgage Trust (a)(b) | A&D Mortgage Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM3, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;5.78%, due 8/25/70 | &nbsp;&nbsp;&nbsp;$1975095 | &nbsp;&nbsp;$1979073 |
| &nbsp;&nbsp;&nbsp;Series 2023-NQM4, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;7.472%, due 9/25/68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1992480 | &nbsp;&nbsp;&nbsp;&nbsp; 2029170 |
| HOMES Trust | HOMES Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM4, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.959%, due 8/25/70 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1255111 |
| NYMT Loan Trust | NYMT Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-INV2, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.94%, due 10/25/60 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121014 |
| OBX Trust | OBX Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM9, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.658%, due 1/25/65 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2180497 |
| PRPM Trust | PRPM Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-NQM1, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;6.26%, due 11/25/69 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2068622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11633487 |
| Total Mortgage-Backed Securities<br> (Cost $69,676,003) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70565055 |
| **U.S. Government & Federal Agencies 39.6%** | **U.S. Government & Federal Agencies 39.6%** | **U.S. Government & Federal Agencies 39.6%** |
| **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 4.2%** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 4.2%** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 4.2%** |
| FHLMC Gold Pools, 30 Year | FHLMC Gold Pools, 30 Year | FHLMC Gold Pools, 30 Year |
| &nbsp;&nbsp;&nbsp;6.50%, due 11/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1165 |
| &nbsp;&nbsp;&nbsp;6.50%, due 8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12527 |
| UMBS Pool, 30 Year | UMBS Pool, 30 Year | UMBS Pool, 30 Year |
| &nbsp;&nbsp;&nbsp;2.00%, due 1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2846337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2321563 |
| &nbsp;&nbsp;&nbsp;2.00%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3954205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3227618 |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1593386 |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3924416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3531014 |
| &nbsp;&nbsp;&nbsp;3.50%, due 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2555558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2352338 |
| &nbsp;&nbsp;&nbsp;4.00%, due 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2268472 |
| &nbsp;&nbsp;&nbsp;5.00%, due 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4639523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631703 |
| &nbsp;&nbsp;&nbsp;6.00%, due 9/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4132825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4236557 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24176343 |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities) 10.3%** | **Federal National Mortgage Association (Mortgage Pass-Through Securities) 10.3%** | **Federal National Mortgage Association (Mortgage Pass-Through Securities) 10.3%** |
| FNMA, Other | FNMA, Other | FNMA, Other |
| &nbsp;&nbsp;&nbsp;2.50%, due 6/1/62 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677636 |
| &nbsp;&nbsp;&nbsp;2.50%, due 9/1/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4924673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4080108 |
| &nbsp;&nbsp;&nbsp;2.50%, due 6/1/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3045398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543869 |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/1/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3305362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128447 |
| &nbsp;&nbsp;&nbsp;4.50%, due 9/1/63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1748609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695971 |
| UMBS, 30 Year | UMBS, 30 Year | UMBS, 30 Year |
| &nbsp;&nbsp;&nbsp;1.50%, due 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3824536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2941938 |
| &nbsp;&nbsp;&nbsp;2.00%, due 12/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3576270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2928347 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** |
| UMBS, 30 Year | UMBS, 30 Year | UMBS, 30 Year |
| &nbsp;&nbsp;&nbsp;2.00%, due 3/1/51 | &nbsp;&nbsp;&nbsp;$3680027 | &nbsp;&nbsp;$3026670 |
| &nbsp;&nbsp;&nbsp;2.00%, due 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4954407 | &nbsp;&nbsp;&nbsp;&nbsp; 4043937 |
| &nbsp;&nbsp;&nbsp;2.50%, due 5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200145 | &nbsp;&nbsp;&nbsp;&nbsp; 179229 |
| &nbsp;&nbsp;&nbsp;2.50%, due 9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4209957 | &nbsp;&nbsp;&nbsp;&nbsp; 3639557 |
| &nbsp;&nbsp;&nbsp;2.50%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2976832 | &nbsp;&nbsp;&nbsp;&nbsp; 2527723 |
| &nbsp;&nbsp;&nbsp;2.50%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2878161 | &nbsp;&nbsp;&nbsp;&nbsp; 2459381 |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4619963 | &nbsp;&nbsp;&nbsp;&nbsp; 4112996 |
| &nbsp;&nbsp;&nbsp;3.50%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667773 |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538503 |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3642380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3629857 |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2496561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502288 |
| &nbsp;&nbsp;&nbsp;5.50%, due 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3147429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197645 |
| &nbsp;&nbsp;&nbsp;6.00%, due 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2438718 |
| &nbsp;&nbsp;&nbsp;6.50%, due 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8882 |
| &nbsp;&nbsp;&nbsp;6.50%, due 8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1759 |
| &nbsp;&nbsp;&nbsp;7.00%, due 9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8396 |
| &nbsp;&nbsp;&nbsp;7.00%, due 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 |
| &nbsp;&nbsp;&nbsp;7.00%, due 11/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801 |
| &nbsp;&nbsp;&nbsp;7.50%, due 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1108 |
| UMBS, Single Family, 30 Year TBA (j) | UMBS, Single Family, 30 Year TBA (j) | UMBS, Single Family, 30 Year TBA (j) |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421170 |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4335423 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58740360 |
| **Government National Mortgage Association (Mortgage Pass-Through Securities) 3.9%** | **Government National Mortgage Association (Mortgage Pass-Through Securities) 3.9%** | **Government National Mortgage Association (Mortgage Pass-Through Securities) 3.9%** |
| GNMA I, Single Family, 30 Year | GNMA I, Single Family, 30 Year | GNMA I, Single Family, 30 Year |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16132 |
| &nbsp;&nbsp;&nbsp;4.00%, due 7/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101603 |
| &nbsp;&nbsp;&nbsp;4.00%, due 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46586 |
| &nbsp;&nbsp;&nbsp;4.50%, due 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251421 |
| &nbsp;&nbsp;&nbsp;4.50%, due 6/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99603 |
| GNMA II, 30 Year | GNMA II, 30 Year | GNMA II, 30 Year |
| &nbsp;&nbsp;&nbsp;2.00%, due 3/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3306791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690851 |
| &nbsp;&nbsp;&nbsp;2.50%, due 1/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60297 |
| &nbsp;&nbsp;&nbsp;2.50%, due 9/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18898 |
| &nbsp;&nbsp;&nbsp;3.50%, due 5/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2755553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2528385 |
| &nbsp;&nbsp;&nbsp;4.50%, due 9/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2430997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2370104 |
| GNMA II, Single Family, 30 Year | GNMA II, Single Family, 30 Year | GNMA II, Single Family, 30 Year |
| &nbsp;&nbsp;&nbsp;2.50%, due 1/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2180453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880612 |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2707187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419050 |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1839039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744044 |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1297134 |
| &nbsp;&nbsp;&nbsp;5.00%, due 11/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406786 |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/15/55 TBA (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3526048 |
| &nbsp;&nbsp;&nbsp;6.00%, due 10/15/55 TBA (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1779774 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22237328 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **United States Treasury Bonds 1.8%** | **United States Treasury Bonds 1.8%** | **United States Treasury Bonds 1.8%** |
| U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
| &nbsp;&nbsp;&nbsp;2.00%, due 11/15/41 | &nbsp;&nbsp;&nbsp;$1795000 | &nbsp;&nbsp;$1260567 |
| &nbsp;&nbsp;&nbsp;2.375%, due 2/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2140000 | &nbsp;&nbsp;&nbsp;&nbsp; 1585774 |
| &nbsp;&nbsp;&nbsp;3.25%, due 5/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 420039 |
| &nbsp;&nbsp;&nbsp;4.625%, due 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1240869 |
| &nbsp;&nbsp;&nbsp;4.75%, due 8/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5795000 | &nbsp;&nbsp;&nbsp;&nbsp; 5814920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10322169 |
| **United States Treasury Notes 19.4%** | **United States Treasury Notes 19.4%** | **United States Treasury Notes 19.4%** |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp;&nbsp;3.625%, due 8/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57882739 |
| &nbsp;&nbsp;&nbsp;3.625%, due 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13677000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13677000 |
| &nbsp;&nbsp;&nbsp;3.625%, due 8/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10619957 |
| &nbsp;&nbsp;&nbsp;4.00%, due 6/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19384438 |
| &nbsp;&nbsp;&nbsp;4.25%, due 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8942069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;110506203 |
| Total U.S. Government & Federal Agencies<br> (Cost $225,725,246) |  | &nbsp;&nbsp;&nbsp;&nbsp;225982403 |
| Total Long-Term Bonds<br> (Cost $556,187,200) |  | &nbsp;&nbsp;&nbsp;&nbsp;561715354 |
| Total Investments<br> (Cost $556,187,200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.5% | &nbsp;&nbsp;&nbsp;&nbsp;561715354 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8803599 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$570518953 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Step coupon—Rate shown was the rate in effect as of September 30, 2025. |
| (b) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (c) | Floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (d) | Fixed to floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (e) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (f) | Collateralized Mortgage Obligation Interest Only Strip—Pays a fixed or variable rate of interest based on mortgage loans or mortgage pass-through securities. The principal amount of the underlying pool represents the notional amount on which the current interest was calculated. The value of these stripped securities may be particularly sensitive to changes in prevailing interest rates and are typically more sensitive to changes in prepayment rates than traditional mortgage-backed securities. |
| (g) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of September 30, 2025. |
| (h) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of September 30, 2025. |
| (i) | Delayed delivery security. |
| (j) | TBA—Security purchased on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount and maturity date will be determined upon settlement. As of September 30, 2025, the total net market value was $10,062,415, which represented 1.8% of the Portfolio's net assets. All or a portion of this security is a part of a mortgage dollar roll agreement. |

---

------

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts<sup>1</sup>:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>2</sup>** |
| **Long Contracts** |  |  |  |  |  |
| U.S. Treasury 2 Year Notes | &nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $17757837 | &nbsp;&nbsp; $17713867 | &nbsp;&nbsp;&nbsp;&nbsp; $(43970) |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 19246996 | &nbsp;&nbsp;&nbsp;&nbsp; 19218375 | &nbsp;&nbsp;&nbsp;&nbsp; (28621) |
| U.S. Treasury Long Bonds | &nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 34003221 | &nbsp;&nbsp;&nbsp;&nbsp; 34744937 | &nbsp;&nbsp;&nbsp;&nbsp; 741716 |
| U.S. Treasury Ultra Bonds | &nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 15119801 | &nbsp;&nbsp;&nbsp;&nbsp; 15488063 | &nbsp;&nbsp;&nbsp;&nbsp; 368262 |
| Total Long Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037387 |
| **Short Contracts** |  |  |  |  |  |
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;&nbsp;&nbsp;(14) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1570671) | &nbsp;&nbsp;&nbsp;&nbsp; (1575000) | &nbsp;&nbsp;&nbsp;&nbsp; (4329) |
| U.S. Treasury 10 Year Ultra Bonds | &nbsp;&nbsp;(183) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (20874203) | &nbsp;&nbsp;&nbsp;&nbsp; (21059297) | &nbsp;&nbsp;&nbsp;&nbsp; (185094) |
| Total Short Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(189423) |
| Net Unrealized Appreciation |  |  |  |  | &nbsp;&nbsp;&nbsp;$847964 |

---

1. As of September 30, 2025, cash in the amount of $1,768,565 was on deposit with a broker or futures commission merchant for futures transactions.

2. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| ACES—Alternative Credit Enhancement Securities |
| CLO—Collateralized Loan Obligation |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| REIT—Real Estate Investment Trust |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR—Secured Overnight Financing Rate |
| TBA—To Be Announced |
| UMBS—Uniform Mortgage Backed Securities |

---

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $38175490 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $38175490 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 226992406 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 226992406 |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 70565055 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 70565055 |
| &nbsp;&nbsp;&nbsp;U.S. Government & Federal Agencies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 225982403 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 225982403 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;561715354 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;561715354 |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1109978 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1109978 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$1109978 | &nbsp;&nbsp;$561715354 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$562825332 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp; $(262014) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp; $(262014) |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP Conservative Allocation Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Affiliated Investment Companies 90.7%** | **Affiliated Investment Companies 90.7%** | **Affiliated Investment Companies 90.7%** |
| **Equity Funds 39.7%** | **Equity Funds 39.7%** | **Equity Funds 39.7%** |
| NYLI Candriam International Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp; 172773 | &nbsp;&nbsp;$5880156 |
| NYLI Candriam U.S. Large Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp; 135761 | &nbsp;&nbsp;&nbsp;&nbsp; 7221508 |
| NYLI Candriam U.S. Mid Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp; 161888 | &nbsp;&nbsp;&nbsp;&nbsp; 5490075 |
| NYLI Epoch Capital Growth Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp; 80101 | &nbsp;&nbsp;&nbsp;&nbsp; 1328664 |
| NYLI Epoch International Choice Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp; 143531 | &nbsp;&nbsp;&nbsp;&nbsp; 6671854 |
| NYLI Fiera SMID Growth Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp; 313394 | &nbsp;&nbsp;&nbsp;&nbsp; 5467595 |
| NYLI FTSE International Equity Currency Neutral ETF | &nbsp;&nbsp;&nbsp;&nbsp; 243632 | &nbsp;&nbsp;&nbsp;&nbsp; 7555028 |
| NYLI PineStone U.S. Equity Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp; 329143 | &nbsp;&nbsp;&nbsp;&nbsp; 6829330 |
| NYLI VP American Century Sustainable Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 639638 | &nbsp;&nbsp;&nbsp;&nbsp; 7261936 |
| NYLI VP Candriam Emerging Markets Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 602330 | &nbsp;&nbsp;&nbsp;&nbsp; 6077389 |
| NYLI VP Dimensional U.S. Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 191983 | &nbsp;&nbsp;&nbsp;&nbsp; 7073308 |
| NYLI VP Epoch U.S. Equity Yield Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 330589 | &nbsp;&nbsp;&nbsp;&nbsp; 6685002 |
| NYLI VP MacKay Convertible Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 450945 | &nbsp;&nbsp;&nbsp;&nbsp; 7535736 |
| NYLI VP MFS<sup>®</sup> Investors Trust Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 357363 | &nbsp;&nbsp;&nbsp;&nbsp; 3883819 |
| NYLI VP MFS<sup>®</sup> Research Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 351768 | &nbsp;&nbsp;&nbsp;&nbsp; 3782803 |
| NYLI VP PineStone International Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 372958 | &nbsp;&nbsp;&nbsp;&nbsp; 4515479 |
| NYLI VP Schroders Mid Cap Opportunities Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5618216 |
| NYLI VP Small Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5287294 |
| NYLI VP Wellington Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7406184 |
| NYLI VP Wellington Small Cap Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5176859 |
| NYLI VP Winslow Large Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7151412 |
| NYLI WMC Enduring Capital Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5995409 |
| NYLI WMC International Research Equity Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6873370 |
| NYLI WMC Value Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6436974 |
| Total Equity Funds<br> (Cost $113,977,205) |  | &nbsp;&nbsp;&nbsp;&nbsp;143205400 |
| **Fixed Income Funds 51.0%** | **Fixed Income Funds 51.0%** | **Fixed Income Funds 51.0%** |
| NYLI Candriam Emerging Markets Debt Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7417058 |
| NYLI MacKay Core Plus Bond ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3704883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79224848 |
| NYLI MacKay High Income ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10056345 |
| NYLI MacKay Securitized Income ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21218126 |
| NYLI VP Bond Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13147899 |
| NYLI VP Floating Rate Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18204534 |
| NYLI VP MacKay High Yield Corporate Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10052454 |
| NYLI VP MacKay U.S. Infrastructure Bond Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21350921 |
| NYLI VP PIMCO Real Return Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3658991 |
| Total Fixed Income Funds<br> (Cost $183,739,312) |  | &nbsp;&nbsp;&nbsp;&nbsp;184331176 |
| Total Affiliated Investment Companies<br> (Cost $297,716,517) |  | &nbsp;&nbsp;&nbsp;&nbsp;327536576 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investment 8.8%** | **Short-Term Investment 8.8%** | **Short-Term Investment 8.8%** |
| **Affiliated Investment Company 8.8%** | **Affiliated Investment Company 8.8%** | **Affiliated Investment Company 8.8%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;31669132 | &nbsp;&nbsp;$31669132 |
| Total Short-Term Investment<br> (Cost $31,669,132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31669132 |
| Total Investments<br> (Cost $329,385,649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.5% | &nbsp;&nbsp;&nbsp;&nbsp;359205708 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969425 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$361175133 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | As of September 30, 2025, the Portfolio's ownership exceeds 5% of the outstanding shares of the Underlying Portfolio's/Fund's share class. |
| (b) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI Candriam Emerging Markets Debt Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$8115 | &nbsp;&nbsp;&nbsp;&nbsp;$(927) | &nbsp;&nbsp;&nbsp;&nbsp;$2 | &nbsp;&nbsp;$227 | &nbsp;&nbsp;$7417 | &nbsp;&nbsp;$279 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 |
| NYLI Candriam International Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1379) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 |
| NYLI Candriam U.S. Large Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2835) | &nbsp;&nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(440) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 |
| NYLI Candriam U.S. Mid Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(957) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 |
| NYLI Epoch Capital Growth Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(181) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 |
| NYLI Epoch International Choice Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1214) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;&nbsp;&nbsp;1174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 |
| NYLI Fiera SMID Growth Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1086) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313 |
| NYLI FTSE International Equity Currency Neutral ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 |
| NYLI MacKay Core Plus Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;86272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9561) | &nbsp;&nbsp;&nbsp;&nbsp;(578) | &nbsp;&nbsp;&nbsp;&nbsp;2789 | &nbsp;&nbsp;&nbsp;&nbsp;79225 | &nbsp;&nbsp;&nbsp;2955 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3705 |
| NYLI MacKay High Income ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6511 | &nbsp;&nbsp;&nbsp;&nbsp;3973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(593) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;&nbsp;10056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 |
| NYLI MacKay Securitized Income ETF | &nbsp;&nbsp;&nbsp;&nbsp;23174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541 | &nbsp;&nbsp;&nbsp;&nbsp;21218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 |
| NYLI MacKay Short Duration High Income Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;16936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;(17343) | &nbsp;&nbsp;&nbsp;&nbsp;(238) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| NYLI PineStone U.S. Equity Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2648) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329 |
| NYLI Short Term Bond Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4218) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;37822 | &nbsp;&nbsp;&nbsp;60414 | &nbsp;&nbsp;&nbsp;&nbsp;(66567) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;31669 | &nbsp;&nbsp;&nbsp;1077 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;31669 |
| NYLI VP American Century Sustainable Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3254) | &nbsp;&nbsp;&nbsp;&nbsp;(481) | &nbsp;&nbsp;&nbsp;&nbsp;1116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 |
| NYLI VP Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;14314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2020) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;13148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1036 |
| NYLI VP Candriam Emerging Markets Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1410) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;1469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602 |
| NYLI VP Dimensional U.S. Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4994 | &nbsp;&nbsp;&nbsp;&nbsp;1871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(662) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 |
| NYLI VP Epoch U.S. Equity Yield Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2338) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 |
| NYLI VP Floating Rate Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;20335 | &nbsp;&nbsp;&nbsp;&nbsp;1001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2888) | &nbsp;&nbsp;&nbsp;&nbsp;(136) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107) | &nbsp;&nbsp;&nbsp;&nbsp;18205 | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2154 |
| NYLI VP MacKay Convertible Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1182) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451 |
| NYLI VP MacKay High Yield Corporate Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6672 | &nbsp;&nbsp;&nbsp;&nbsp;3939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(941) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;10052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1040 |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI VP MacKay U.S. Infrastructure Bond Portfolio Initial Class | &nbsp;&nbsp;$23261 | &nbsp;&nbsp;$177 | &nbsp;&nbsp;$(3591) | &nbsp;&nbsp;$84 | &nbsp;&nbsp;$1421 | &nbsp;&nbsp;$21352 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;2079 |
| NYLI VP MFS<sup>®</sup> Investors Trust Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 |
| NYLI VP MFS<sup>®</sup> Research Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352 |
| NYLI VP PIMCO Real Return Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443 |
| NYLI VP PineStone International Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1651) | &nbsp;&nbsp;&nbsp;&nbsp;(784) | &nbsp;&nbsp;&nbsp;&nbsp;1210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 |
| NYLI VP Schroders Mid Cap Opportunities Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1061) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599 |
| NYLI VP Small Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(913) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433 |
| NYLI VP Wellington Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4435) | &nbsp;&nbsp;&nbsp;1830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(644) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 |
| NYLI VP Wellington Small Cap Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(450) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505 |
| NYLI VP Winslow Large Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4508) | &nbsp;&nbsp;&nbsp;1632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 |
| NYLI WMC Enduring Capital Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3906 | &nbsp;&nbsp;&nbsp;&nbsp;2446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 |
| NYLI WMC International Research Equity Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1486) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp;&nbsp;1524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689 |
| NYLI WMC Value Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1899) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 |
|  | &nbsp;&nbsp;$390857 | &nbsp;&nbsp;$96145 | &nbsp;&nbsp;$(149982) | &nbsp;&nbsp;$5259 | &nbsp;&nbsp;$16927 | &nbsp;&nbsp;$359206 | &nbsp;&nbsp;$7496 | &nbsp;&nbsp;$— |  |

---

(a) Prior to February 14, 2025, known as NYLI MacKay ESG High Income ETF.

#### Swap Contracts
Open OTC total return equity swap contracts as of September 30, 2025 were as follows<sup>1</sup>:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Swap<br> Counterparty** | &nbsp;&nbsp;**Reference Obligation** | &nbsp;&nbsp;**Floating Rate<sup>2</sup>** | &nbsp;&nbsp;**Termination<br> Date(s)** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Notional<br> Amount<br> Long/<br> (Short)<br> (000)<sup>3</sup>** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)<sup>4</sup>** |
| Citibank NA | &nbsp;&nbsp;iShares 20+ Year Treasury Bond ETF | &nbsp;&nbsp;1 day FEDF plus 0.43% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;4664 | &nbsp;&nbsp;$— |
| Citibank NA | &nbsp;&nbsp;iShares MSCI EAFE ETF | &nbsp;&nbsp;1 day FEDF minus 0.40% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;(7674) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;1 day FEDF plus 0.45% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;7799 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase Bank NA | &nbsp;&nbsp;Russell 2000 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.49% | &nbsp;&nbsp;4/8/26 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;2676 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P 500 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.95% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;10053 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P Midcap 400 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.85% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;$— |

---

1. As of September 30, 2025, cash in the amount $1,627,000 was pledged to brokers for OTC swap contracts.

2. Portfolio pays the floating rate and receives the total return of the reference entity.

3. Notional amounts reflected as a positive value indicate a long position held by the Portfolio or Index and a negative value indicates a short position.

4. Reflects the value at reset date as of September 30, 2025.

------

---

| |
|:---|
| Abbreviation(s): |
| EAFE—Europe, Australasia and Far East |
| ETF—Exchange-Traded Fund |
| FEDF—Federal Funds Rate |
| FTSE—Financial Times Stock Exchange |
| MSCI—Morgan Stanley Capital International |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Affiliated Investment Companies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Funds | &nbsp;&nbsp; $143205400 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $143205400 |
| &nbsp;&nbsp;&nbsp;Fixed Income Funds | &nbsp;&nbsp;&nbsp;&nbsp; 184331176 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 184331176 |
| Total Affiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;327536576 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;327536576 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 31669132 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 31669132 |
| Total Investments in Securities | &nbsp;&nbsp;$359205708 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$359205708 |

---

(a) For a complete listing of investments, see the Portfolio of Investments.

------

## NYLI VP CBRE Global Infrastructure Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 98.2%** | **Common Stocks 98.2%** | **Common Stocks 98.2%** |
| **Australia 0.7%** | **Australia 0.7%** | **Australia 0.7%** |
| Transurban Group (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp; 30541 | &nbsp;&nbsp;$279689 |
| **Belgium 0.7%** | **Belgium 0.7%** | **Belgium 0.7%** |
| Elia Group SA/NV (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 2252 | &nbsp;&nbsp;&nbsp;&nbsp; 259864 |
| **Canada 4.8%** | **Canada 4.8%** | **Canada 4.8%** |
| Canadian Pacific Kansas City Ltd. (Transportation) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11174 | &nbsp;&nbsp;&nbsp;&nbsp; 832209 |
| Pembina Pipeline Corp. (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp; 13280 | &nbsp;&nbsp;&nbsp;&nbsp; 536944 |
| TC Energy Corp. (Midstream / Pipelines) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8836 | &nbsp;&nbsp;&nbsp;&nbsp; 480434 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1849587 |
| **France 4.5%** | **France 4.5%** | **France 4.5%** |
| Vinci SA (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp; 12284 | &nbsp;&nbsp;&nbsp;&nbsp; 1710407 |
| **Germany 2.3%** | **Germany 2.3%** | **Germany 2.3%** |
| E.ON SE (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 45972 | &nbsp;&nbsp;&nbsp;&nbsp; 864375 |
| **Italy 0.8%** | **Italy 0.8%** | **Italy 0.8%** |
| Infrastrutture Wireless Italiane SpA (Communications) | &nbsp;&nbsp;&nbsp;&nbsp; 26945 | &nbsp;&nbsp;&nbsp;&nbsp; 316646 |
| **Japan 4.1%** | **Japan 4.1%** | **Japan 4.1%** |
| Chubu Electric Power Co., Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 15400 | &nbsp;&nbsp;&nbsp;&nbsp; 214465 |
| East Japan Railway Co. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142126 |
| Kyushu Electric Power Co., Inc. (Utilities) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300325 |
| West Japan Railway Co. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587456 |
| **Mexico 4.1%** | **Mexico 4.1%** | **Mexico 4.1%** |
| Grupo Aeroportuario del Centro Norte SAB de CV, Class B (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434997 |
| Grupo Aeroportuario del Pacifico SAB de CV, Class B (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923217 |
| Grupo Aeroportuario del Sureste SAB de CV, Class B (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567897 |
| **Netherlands 4.0%** | **Netherlands 4.0%** | **Netherlands 4.0%** |
| Ferrovial SE (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548622 |
| **New Zealand 0.6%** | **New Zealand 0.6%** | **New Zealand 0.6%** |
| Auckland International Airport Ltd. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216191 |
| **Spain 4.6%** | **Spain 4.6%** | **Spain 4.6%** |
| Aena SME SA (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1331642 |
| Cellnex Telecom SA (Communications) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419850 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751492 |
| **Switzerland 1.6%** | **Switzerland 1.6%** | **Switzerland 1.6%** |
| Flughafen Zurich AG (Registered) (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598978 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **United Kingdom 4.7%** | **United Kingdom 4.7%** | **United Kingdom 4.7%** |
| National Grid plc (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 32448 | &nbsp;&nbsp;$467790 |
| Pennon Group plc (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 73702 | &nbsp;&nbsp;&nbsp;&nbsp; 464292 |
| Severn Trent plc (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 17951 | &nbsp;&nbsp;&nbsp;&nbsp; 625592 |
| SSE plc (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 10009 | &nbsp;&nbsp;&nbsp;&nbsp; 234560 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792234 |
| **United States 60.7%** | **United States 60.7%** | **United States 60.7%** |
| AES Corp. (The) (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 67932 | &nbsp;&nbsp;&nbsp;&nbsp; 893985 |
| American Tower Corp. (Communications) | &nbsp;&nbsp;&nbsp;&nbsp; 2991 | &nbsp;&nbsp;&nbsp;&nbsp; 575229 |
| Atmos Energy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 8531 | &nbsp;&nbsp;&nbsp;&nbsp; 1456668 |
| California Water Service Group (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 6822 | &nbsp;&nbsp;&nbsp;&nbsp; 313062 |
| Cheniere Energy, Inc. (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp; 5919 | &nbsp;&nbsp;&nbsp;&nbsp; 1390847 |
| Chesapeake Utilities Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 1178 | &nbsp;&nbsp;&nbsp;&nbsp; 158665 |
| CMS Energy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 12262 | &nbsp;&nbsp;&nbsp;&nbsp; 898314 |
| Consolidated Edison, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 1549 | &nbsp;&nbsp;&nbsp;&nbsp; 155705 |
| Constellation Energy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 2415 | &nbsp;&nbsp;&nbsp;&nbsp; 794704 |
| CSX Corp. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp; 5128 | &nbsp;&nbsp;&nbsp;&nbsp; 182095 |
| Entergy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1411828 |
| Equinix, Inc. (Communications) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909342 |
| Essential Utilities, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986288 |
| NextEra Energy, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465336 |
| OGE Energy Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472463 |
| PG&E Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906640 |
| PPL Corp. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640540 |
| Public Service Enterprise Group, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452705 |
| Targa Resources Corp. (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997198 |
| Union Pacific Corp. (Transportation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1753393 |
| WEC Energy Group, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701661 |
| Williams Cos., Inc. (The) (Midstream / Pipelines) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136436 |
| Xcel Energy, Inc. (Utilities) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564610 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23217714 |
| Total Common Stocks<br> (Cost $31,650,622) |  | &nbsp;&nbsp;&nbsp;&nbsp;37561152 |
| **Short-Term Investments 5.2%** | **Short-Term Investments 5.2%** | **Short-Term Investments 5.2%** |
| **Affiliated Investment Company 1.7%** | **Affiliated Investment Company 1.7%** | **Affiliated Investment Company 1.7%** |
| **United States 1.7%** | **United States 1.7%** | **United States 1.7%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663043 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** |
| **Unaffiliated Investment Company 3.5%** | **Unaffiliated Investment Company 3.5%** | **Unaffiliated Investment Company 3.5%** |
| **United States 3.5%** | **United States 3.5%** | **United States 3.5%** |
| Invesco Government & Agency Portfolio, 4.131% (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;1328426 | &nbsp;&nbsp;$1328426 |
| Total Short-Term Investments<br> (Cost $1,991,469) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991469 |
| Total Investments<br> (Cost $33,642,091) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103.4% | &nbsp;&nbsp;&nbsp;&nbsp;39552621 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1305163) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$38247458 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry and country classifications may be different than those used for compliance monitoring purposes. |
| (a) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $1,469,661; the total market value of collateral held by the Portfolio was $1,523,260. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $194,834. The Portfolio received cash collateral with a value of $1,328,426. |
| (b) | Current yield as of September 30, 2025. |
| (c) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$489 | &nbsp;&nbsp;$7670 | &nbsp;&nbsp;$(7496) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$663 | &nbsp;&nbsp;$14 | &nbsp;&nbsp;$— | &nbsp;&nbsp;663 |

---

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $279689 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp; $279689 |
| &nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 259864 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 259864 |
| &nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1710407 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1710407 |
| &nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 864375 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 864375 |
| &nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 316646 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 316646 |
| &nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1587456 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1587456 |
| &nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1548622 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1548622 |
| &nbsp;&nbsp;&nbsp;New Zealand | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 216191 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 216191 |
| &nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1751492 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1751492 |
| &nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 598978 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 598978 |
| &nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1792234 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1792234 |
| &nbsp;&nbsp;&nbsp;All Other Countries | &nbsp;&nbsp;&nbsp;&nbsp; 26635198 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 26635198 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;26635198 | &nbsp;&nbsp;&nbsp;&nbsp;10925954 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;37561152 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 663043 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 663043 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 1328426 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1328426 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991469 |
| Total Investments in Securities | &nbsp;&nbsp;$28626667 | &nbsp;&nbsp;$10925954 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$39552621 |

---

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

------

## NYLI VP Candriam Emerging Markets Equity Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 92.9%** | **Common Stocks 92.9%** | **Common Stocks 92.9%** |
| **Brazil 4.7%** | **Brazil 4.7%** | **Brazil 4.7%** |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP (Water Utilities) | &nbsp;&nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;$1241674 |
| Inter & Co., Inc., Class A (Banks) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 196000 | &nbsp;&nbsp;&nbsp;&nbsp; 1809080 |
| NU Holdings Ltd., Class A (Banks) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 142000 | &nbsp;&nbsp;&nbsp;&nbsp; 2273420 |
| Raia Drogasil SA (Consumer Staples Distribution & Retail) | &nbsp;&nbsp;&nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp; 1661252 |
| Rede D'Or Sao Luiz SA (Health Care Providers & Services) (c) | &nbsp;&nbsp;&nbsp;&nbsp; 208000 | &nbsp;&nbsp;&nbsp;&nbsp; 1644538 |
| TOTVS SA (Software) | &nbsp;&nbsp;&nbsp;&nbsp; 204000 | &nbsp;&nbsp;&nbsp;&nbsp; 1760481 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10390445 |
| **Chile 1.6%** | **Chile 1.6%** | **Chile 1.6%** |
| Antofagasta plc (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 2160524 |
| Sociedad Quimica y Minera de Chile SA, Sponsored ADR (Chemicals) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 31300 | &nbsp;&nbsp;&nbsp;&nbsp; 1345274 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3505798 |
| **China 30.6%** | **China 30.6%** | **China 30.6%** |
| Advanced Micro-Fabrication Equipment, Inc., Class A (Semiconductors & Semiconductor Equipment) (d) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 1047959 |
| Agricultural Bank of China Ltd., Class H (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp; 1078147 |
| Alibaba Group Holding Ltd. (Broadline Retail) | &nbsp;&nbsp;&nbsp;&nbsp; 424000 | &nbsp;&nbsp;&nbsp;&nbsp; 9504289 |
| Alibaba Health Information Technology Ltd. (Consumer Staples Distribution & Retail) (b) | &nbsp;&nbsp;&nbsp;&nbsp;2080000 | &nbsp;&nbsp;&nbsp;&nbsp; 1782656 |
| Anker Innovations Technology Co. Ltd., Class A (Technology Hardware, Storage & Peripherals) (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613662 |
| Baidu, Inc., Class A (Interactive Media & Services) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795551 |
| BeOne Medicines Ltd., Class H (Biotechnology) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782581 |
| Cambricon Technologies Corp. Ltd., Class A (Semiconductors & Semiconductor Equipment) (b)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523328 |
| China Hongqiao Group Ltd. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156189 |
| China Life Insurance Co. Ltd., Class H (Insurance) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595762 |
| CMOC Group Ltd., Class H (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;1560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3153636 |
| Fuyao Glass Industry Group Co. Ltd., Class H (Automobile Components) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986676 |
| Giant Biogene Holding Co. Ltd. (Personal Care Products) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989528 |
| Innovent Biologics, Inc. (Biotechnology) (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772079 |
| Lenovo Group Ltd. (Technology Hardware, Storage & Peripherals) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427361 |
| Meituan (Hotels, Restaurants & Leisure) (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642285 |
| NAURA Technology Group Co. Ltd., Class A (Semiconductors & Semiconductor Equipment) (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971666 |
| NetEase, Inc. (Entertainment) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276958 |
| Ningbo Deye Technology Co. Ltd., Class A (Electrical Equipment) (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070277 |
| Nongfu Spring Co. Ltd., Class H (Beverages) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483217 |
| PDD Holdings, Inc., ADR (Broadline Retail) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246890 |
| PICC Property & Casualty Co. Ltd., Class H (Insurance) | &nbsp;&nbsp;&nbsp;&nbsp;1040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2351894 |
| Ping An Insurance Group Co. of China Ltd., Class H (Insurance) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442636 |
| Pop Mart International Group Ltd. (Specialty Retail) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307756 |
| Shanjin International Gold Co. Ltd., Class A (Metals & Mining) (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800028 |
| Sieyuan Electric Co. Ltd., Class A (Electrical Equipment) (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882413 |
| Suzhou TFC Optical Communication Co. Ltd., Class A (Communications Equipment) (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667911 |
| Tencent Holdings Ltd. (Interactive Media & Services) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13801718 |
| Trip.com Group Ltd. (Hotels, Restaurants & Leisure) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410056 |
| WUS Printed Circuit Kunshan Co. Ltd., Class A (Electronic Equipment, Instruments & Components) (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946155 |
| Xiaomi Corp., Class B (Technology Hardware, Storage & Peripherals) (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3509285 |
| Zhejiang Huayou Cobalt Co. Ltd., Class A (Electrical Equipment) (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222672 |
| Zhejiang Leapmotor Technology Co. Ltd., Class H (Automobiles) (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339628 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67582849 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Greece 0.5%** | **Greece 0.5%** | **Greece 0.5%** |
| Alpha Bank SA (Banks) | &nbsp;&nbsp;&nbsp;&nbsp; 240000 | &nbsp;&nbsp;$1023334 |
| **Hong Kong 0.6%** | **Hong Kong 0.6%** | **Hong Kong 0.6%** |
| Futu Holdings Ltd., ADR (Capital Markets) | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp; 1217370 |
| **Hungary 0.5%** | **Hungary 0.5%** | **Hungary 0.5%** |
| OTP Bank Nyrt. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp; 12400 | &nbsp;&nbsp;&nbsp;&nbsp; 1073941 |
| **India 12.8%** | **India 12.8%** | **India 12.8%** |
| 360 ONE WAM Ltd. (Capital Markets) | &nbsp;&nbsp;&nbsp;&nbsp; 62000 | &nbsp;&nbsp;&nbsp;&nbsp; 716735 |
| Apollo Hospitals Enterprise Ltd. (Health Care Providers & Services) | &nbsp;&nbsp;&nbsp;&nbsp; 14200 | &nbsp;&nbsp;&nbsp;&nbsp; 1186843 |
| Bajaj Finance Ltd. (Consumer Finance) | &nbsp;&nbsp;&nbsp;&nbsp; 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 810265 |
| Bharti Airtel Ltd. (Wireless Telecommunication Services) | &nbsp;&nbsp;&nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 1779574 |
| Coromandel International Ltd. (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 1014118 |
| Dixon Technologies India Ltd. (Household Durables) | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp; 1287464 |
| Eicher Motors Ltd. (Automobiles) | &nbsp;&nbsp;&nbsp;&nbsp; 17600 | &nbsp;&nbsp;&nbsp;&nbsp; 1388880 |
| Eternal Ltd. (Hotels, Restaurants & Leisure) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 1246699 |
| Fortis Healthcare Ltd. (Health Care Providers & Services) | &nbsp;&nbsp;&nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp; 1835279 |
| HDFC Bank Ltd. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp; 316000 | &nbsp;&nbsp;&nbsp;&nbsp; 3385606 |
| Hitachi Energy India Ltd. (Electrical Equipment) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135288 |
| ICICI Bank Ltd. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790954 |
| InterGlobe Aviation Ltd. (Passenger Airlines) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630240 |
| Muthoot Finance Ltd. (Consumer Finance) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732927 |
| Navin Fluorine International Ltd. (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832886 |
| NHPC Ltd. (Independent Power and Renewable Electricity Producers) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952997 |
| PB Fintech Ltd. (Insurance) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037402 |
| Reliance Industries Ltd. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782370 |
| Siemens Energy India Ltd. (Electrical Equipment) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325077 |
| Siemens Ltd. (Industrial Conglomerates) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317316 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28188920 |
| **Mexico 1.9%** | **Mexico 1.9%** | **Mexico 1.9%** |
| America Movil SAB de CV (Wireless Telecommunication Services) | &nbsp;&nbsp;&nbsp;&nbsp;1160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214252 |
| Gentera SAB de CV (Consumer Finance) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721864 |
| Industrias Penoles SAB de CV (Metals & Mining) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251427 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4187543 |
| **Nigeria 0.4%** | **Nigeria 0.4%** | **Nigeria 0.4%** |
| Airtel Africa plc (Wireless Telecommunication Services) (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786642 |
| **Peru 2.6%** | **Peru 2.6%** | **Peru 2.6%** |
| Cia de Minas Buenaventura SAA, ADR (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2335680 |
| Credicorp Ltd. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236752 |
| Intercorp Financial Services, Inc. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1129520 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5701952 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Poland 0.6%** | **Poland 0.6%** | **Poland 0.6%** |
| Allegro.eu SA (Broadline Retail) (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp; 30000 | &nbsp;&nbsp;$293784 |
| Bank Millennium SA (Banks) (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1032856 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1326640 |
| **Republic of Korea 8.6%** | **Republic of Korea 8.6%** | **Republic of Korea 8.6%** |
| Hana Financial Group, Inc. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 1624238 |
| Hansol Chemical Co. Ltd. (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp; 7600 | &nbsp;&nbsp;&nbsp;&nbsp; 1135410 |
| Hyosung Heavy Industries Corp. (Electrical Equipment) | &nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp;&nbsp;&nbsp; 1736786 |
| Hyundai Rotem Co. Ltd. (Machinery) | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp; 1094832 |
| KB Financial Group, Inc. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 2064691 |
| Samsung C&T Corp. (Industrial Conglomerates) | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp; 926256 |
| Samsung Heavy Industries Co. Ltd. (Machinery) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 192000 | &nbsp;&nbsp;&nbsp;&nbsp; 3003741 |
| Samyang Foods Co. Ltd. (Food Products) | &nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp; 1218578 |
| SK Hynix, Inc. (Semiconductors & Semiconductor Equipment) | &nbsp;&nbsp;&nbsp;&nbsp; 19400 | &nbsp;&nbsp;&nbsp;&nbsp; 4850637 |
| SK Square Co. Ltd. (Industrial Conglomerates) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 9600 | &nbsp;&nbsp;&nbsp;&nbsp; 1384533 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19039702 |
| **Russia 0.0% ‡** | **Russia 0.0% ‡** | **Russia 0.0% ‡** |
| Magnit PJSC (Consumer Staples Distribution & Retail) (b)(d)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Saudi Arabia 1.6%** | **Saudi Arabia 1.6%** | **Saudi Arabia 1.6%** |
| Al Rajhi Bank (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3540138 |
| **Singapore 0.3%** | **Singapore 0.3%** | **Singapore 0.3%** |
| Sea Ltd., ADR (Broadline Retail) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643428 |
| **South Africa 4.6%** | **South Africa 4.6%** | **South Africa 4.6%** |
| Gold Fields Ltd. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2629746 |
| MTN Group Ltd. (Wireless Telecommunication Services) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808131 |
| Naspers Ltd., Class N (Broadline Retail) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2762565 |
| Northam Platinum Holdings Ltd. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693031 |
| Valterra Platinum Ltd. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2356010 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10249483 |
| **Taiwan 17.9%** | **Taiwan 17.9%** | **Taiwan 17.9%** |
| Accton Technology Corp. (Communications Equipment) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488733 |
| Alchip Technologies Ltd. (Semiconductors & Semiconductor Equipment) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343373 |
| Asia Vital Components Co. Ltd. (Technology Hardware, Storage & Peripherals) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038666 |
| ASPEED Technology, Inc. (Semiconductors & Semiconductor Equipment) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950161 |
| Chroma ATE, Inc. (Electronic Equipment, Instruments & Components) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068861 |
| CTBC Financial Holding Co. Ltd. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958056 |
| Delta Electronics, Inc. (Electronic Equipment, Instruments & Components) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121265 |
| E Ink Holdings, Inc. (Electronic Equipment, Instruments & Components) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554041 |
| E.Sun Financial Holding Co. Ltd. (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;2340430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2562722 |
| Elite Material Co. Ltd. (Electronic Equipment, Instruments & Components) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338678 |
| Global Unichip Corp. (Semiconductors & Semiconductor Equipment) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885387 |
| Gold Circuit Electronics Ltd. (Electronic Equipment, Instruments & Components) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942959 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Taiwan** | **Taiwan** | **Taiwan** |
| King Slide Works Co. Ltd. (Technology Hardware, Storage & Peripherals) | &nbsp;&nbsp;&nbsp;&nbsp; 13400 | &nbsp;&nbsp;$1452916 |
| MediaTek, Inc. (Semiconductors & Semiconductor Equipment) | &nbsp;&nbsp;&nbsp;&nbsp; 34300 | &nbsp;&nbsp;&nbsp;&nbsp; 1486827 |
| Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | &nbsp;&nbsp;&nbsp;&nbsp; 491000 | &nbsp;&nbsp;&nbsp;&nbsp; 21360637 |
| Wiwynn Corp. (Technology Hardware, Storage & Peripherals) | &nbsp;&nbsp;&nbsp;&nbsp; 18200 | &nbsp;&nbsp;&nbsp;&nbsp; 1978937 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39532219 |
| **Turkey 2.6%** | **Turkey 2.6%** | **Turkey 2.6%** |
| Aselsan Elektronik Sanayi ve Ticaret A/S (Aerospace & Defense) | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 2379164 |
| Turkiye Garanti Bankasi A/S (Banks) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1345636 |
| Turkiye Petrol Rafinerileri A/S (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 2069266 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5794066 |
| **United States 0.5%** | **United States 0.5%** | **United States 0.5%** |
| Laureate Education, Inc. (Diversified Consumer Services) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 35500 | &nbsp;&nbsp;&nbsp;&nbsp; 1119670 |
| Total Common Stocks<br> (Cost $157,942,195) |  | &nbsp;&nbsp;&nbsp;&nbsp;204904140 |
| **Preferred Stocks 5.4%** | **Preferred Stocks 5.4%** | **Preferred Stocks 5.4%** |
| **Brazil 0.7%** | **Brazil 0.7%** | **Brazil 0.7%** |
| Itau Unibanco Holding SA (Banks) | &nbsp;&nbsp;&nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 1394767 |
| **Colombia 0.8%** | **Colombia 0.8%** | **Colombia 0.8%** |
| Grupo Cibest SA, ADR (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817900 |
| **Republic of Korea 3.9%** | **Republic of Korea 3.9%** | **Republic of Korea 3.9%** |
| Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) 1.88% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8652512 |
| Total Preferred Stocks<br> (Cost $10,191,518) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11865179 |
| **Short-Term Investment 0.3%** | **Short-Term Investment 0.3%** | **Short-Term Investment 0.3%** |
| **Unaffiliated Investment Company 0.3%** | **Unaffiliated Investment Company 0.3%** | **Unaffiliated Investment Company 0.3%** |
| **United States 0.3%** | **United States 0.3%** | **United States 0.3%** |
| Invesco Government & Agency Portfolio, 4.131% (f)(g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777984 |
| Total Short-Term Investment<br> (Cost $777,984) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777984 |
| Total Investments<br> (Cost $168,911,697) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.6% | &nbsp;&nbsp;&nbsp;&nbsp;217547303 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2996266 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$220543569 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry and country classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |

---

------

(a) All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $2,125,129; the total market value of collateral held by the Portfolio
was $2,266,047. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,488,063. The Portfolio received cash collateral with a value of $777,984.

(b) Non-income producing security.

(c) May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.

(d) Illiquid security—As of September 30, 2025, the total market value deemed illiquid under procedures approved by the Board of Trustees was $12,746,071, which represented 5.8% of the
Portfolio's net assets.

(e) Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(f) Current yield as of September 30, 2025.

(g) Represents a security purchased with cash collateral received for securities on loan.

Abbreviation(s): <br> ADR—American Depositary Receipt

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Chile | &nbsp;&nbsp; $1345274 | &nbsp;&nbsp;&nbsp; $2160524 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp; $3505798 |
| &nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp; 2246890 | &nbsp;&nbsp;&nbsp;&nbsp; 65335959 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 67582849 |
| &nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1023334 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1023334 |
| &nbsp;&nbsp;&nbsp;Hungary | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1073941 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1073941 |
| &nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28188920 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 28188920 |
| &nbsp;&nbsp;&nbsp;Nigeria | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 786642 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 786642 |
| &nbsp;&nbsp;&nbsp;Poland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1326640 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1326640 |
| &nbsp;&nbsp;&nbsp;Republic of Korea | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19039702 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 19039702 |
| &nbsp;&nbsp;&nbsp;Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3540138 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3540138 |
| &nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10249483 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 10249483 |
| &nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39532219 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 39532219 |
| &nbsp;&nbsp;&nbsp;Turkey | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5794066 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 5794066 |
| &nbsp;&nbsp;&nbsp;All Other Countries | &nbsp;&nbsp;&nbsp;&nbsp; 23260408 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 23260408 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;26852572 | &nbsp;&nbsp;&nbsp;&nbsp;178051568 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;204904140 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 3212667 | &nbsp;&nbsp;&nbsp;&nbsp; 8652512 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 11865179 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 777984 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 777984 |
| Total Investments in Securities | &nbsp;&nbsp;$30843223 | &nbsp;&nbsp;$186704080 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$217547303 |

---

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

------

## NYLI VP Epoch U.S. Equity Yield Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 98.2%** | **Common Stocks 98.2%** | **Common Stocks 98.2%** |
| **Aerospace & Defense 3.0%** | **Aerospace & Defense 3.0%** | **Aerospace & Defense 3.0%** |
| General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 26959 | &nbsp;&nbsp;$9193019 |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 14899 | &nbsp;&nbsp;&nbsp;&nbsp; 7437730 |
| RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 62157 | &nbsp;&nbsp;&nbsp;&nbsp; 10400731 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27031480 |
| **Air Freight & Logistics 0.6%** | **Air Freight & Logistics 0.6%** | **Air Freight & Logistics 0.6%** |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 64215 | &nbsp;&nbsp;&nbsp;&nbsp; 5363879 |
| **Banks 9.9%** | **Banks 9.9%** | **Banks 9.9%** |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 405237 | &nbsp;&nbsp;&nbsp;&nbsp; 20906177 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 343953 | &nbsp;&nbsp;&nbsp;&nbsp; 8853350 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 64871 | &nbsp;&nbsp;&nbsp;&nbsp; 20462259 |
| Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 309327 | &nbsp;&nbsp;&nbsp;&nbsp; 8156953 |
| Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 160654 | &nbsp;&nbsp;&nbsp;&nbsp; 7345101 |
| U.S. Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 264023 | &nbsp;&nbsp;&nbsp;&nbsp; 12760232 |
| Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 149693 | &nbsp;&nbsp;&nbsp;&nbsp; 12547267 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91031339 |
| **Beverages 2.3%** | **Beverages 2.3%** | **Beverages 2.3%** |
| Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5185693 |
| Coca-Cola Europacific Partners plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10424815 |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5471262 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21081770 |
| **Biotechnology 3.6%** | **Biotechnology 3.6%** | **Biotechnology 3.6%** |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22013665 |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4795707 |
| Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6036069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32845441 |
| **Capital Markets 3.1%** | **Capital Markets 3.1%** | **Capital Markets 3.1%** |
| BlackRock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12914342 |
| CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6872283 |
| Lazard, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8603140 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28389765 |
| **Chemicals 3.2%** | **Chemicals 3.2%** | **Chemicals 3.2%** |
| Linde plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9116675 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5493118 |
| Nutrien Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9550238 |
| PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5082489 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29242520 |
| **Commercial Services & Supplies 0.7%** | **Commercial Services & Supplies 0.7%** | **Commercial Services & Supplies 0.7%** |
| Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6529165 |
| **Communications Equipment 1.3%** | **Communications Equipment 1.3%** | **Communications Equipment 1.3%** |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12114719 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Consumer Staples Distribution & Retail 1.8%** | **Consumer Staples Distribution & Retail 1.8%** | **Consumer Staples Distribution & Retail 1.8%** |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 158018 | &nbsp;&nbsp;$16285335 |
| **Diversified Telecommunication Services 2.4%** | **Diversified Telecommunication Services 2.4%** | **Diversified Telecommunication Services 2.4%** |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 368448 | &nbsp;&nbsp;&nbsp;&nbsp; 10404972 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 263150 | &nbsp;&nbsp;&nbsp;&nbsp; 11565442 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21970414 |
| **Electric Utilities 6.1%** | **Electric Utilities 6.1%** | **Electric Utilities 6.1%** |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 89822 | &nbsp;&nbsp;&nbsp;&nbsp; 6054901 |
| American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 108198 | &nbsp;&nbsp;&nbsp;&nbsp; 12172275 |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 47325 | &nbsp;&nbsp;&nbsp;&nbsp; 5856469 |
| Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 134493 | &nbsp;&nbsp;&nbsp;&nbsp; 12533403 |
| NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 128939 | &nbsp;&nbsp;&nbsp;&nbsp; 9733605 |
| OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 105937 | &nbsp;&nbsp;&nbsp;&nbsp; 4901705 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 54010 | &nbsp;&nbsp;&nbsp;&nbsp; 4842536 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56094894 |
| **Electrical Equipment 3.6%** | **Electrical Equipment 3.6%** | **Electrical Equipment 3.6%** |
| Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp; 36494 | &nbsp;&nbsp;&nbsp;&nbsp; 13657880 |
| Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12106077 |
| Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7174989 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32938946 |
| **Food Products 1.1%** | **Food Products 1.1%** | **Food Products 1.1%** |
| McCormick & Co., Inc. (Non-Voting) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4613110 |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5571262 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10184372 |
| **Health Care Equipment & Supplies 1.6%** | **Health Care Equipment & Supplies 1.6%** | **Health Care Equipment & Supplies 1.6%** |
| Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15004586 |
| **Health Care Providers & Services 2.8%** | **Health Care Providers & Services 2.8%** | **Health Care Providers & Services 2.8%** |
| CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17325677 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8687748 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26013425 |
| **Hotels, Restaurants & Leisure 1.6%** | **Hotels, Restaurants & Leisure 1.6%** | **Hotels, Restaurants & Leisure 1.6%** |
| McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9583475 |
| Vail Resorts, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5250804 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14834279 |
| **Household Products 1.7%** | **Household Products 1.7%** | **Household Products 1.7%** |
| Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5288511 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9981718 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15270229 |
| **Industrial Conglomerates 0.9%** | **Industrial Conglomerates 0.9%** | **Industrial Conglomerates 0.9%** |
| Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8283386 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Industrial REITs 0.9%** | **Industrial REITs 0.9%** | **Industrial REITs 0.9%** |
| Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 68995 | &nbsp;&nbsp;$7901307 |
| **Insurance 4.7%** | **Insurance 4.7%** | **Insurance 4.7%** |
| Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 48646 | &nbsp;&nbsp;&nbsp;&nbsp; 9803628 |
| MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 242323 | &nbsp;&nbsp;&nbsp;&nbsp; 19960146 |
| Travelers Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 45949 | &nbsp;&nbsp;&nbsp;&nbsp; 12829880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42593654 |
| **Interactive Media & Services 1.6%** | **Interactive Media & Services 1.6%** | **Interactive Media & Services 1.6%** |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 20591 | &nbsp;&nbsp;&nbsp;&nbsp; 5014938 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 13578 | &nbsp;&nbsp;&nbsp;&nbsp; 9971412 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14986350 |
| **IT Services 1.5%** | **IT Services 1.5%** | **IT Services 1.5%** |
| International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 49722 | &nbsp;&nbsp;&nbsp;&nbsp; 14029560 |
| **Leisure Products 1.2%** | **Leisure Products 1.2%** | **Leisure Products 1.2%** |
| Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 147377 | &nbsp;&nbsp;&nbsp;&nbsp; 11178545 |
| **Machinery 3.3%** | **Machinery 3.3%** | **Machinery 3.3%** |
| Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 43412 | &nbsp;&nbsp;&nbsp;&nbsp; 18335926 |
| Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6306153 |
| Toro Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5649697 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30291776 |
| **Media 1.7%** | **Media 1.7%** | **Media 1.7%** |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8585326 |
| Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6886921 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15472247 |
| **Multi-Utilities 2.4%** | **Multi-Utilities 2.4%** | **Multi-Utilities 2.4%** |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4994374 |
| CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5510471 |
| NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4824356 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6288241 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21617442 |
| **Oil, Gas & Consumable Fuels 4.1%** | **Oil, Gas & Consumable Fuels 4.1%** | **Oil, Gas & Consumable Fuels 4.1%** |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13243442 |
| Enterprise Products Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9430782 |
| MPLX LP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8922269 |
| TotalEnergies SE, Sponsored ADR (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5768919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37365412 |
| **Pharmaceuticals 5.3%** | **Pharmaceuticals 5.3%** | **Pharmaceuticals 5.3%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5258795 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8794338 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19270330 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Pharmaceuticals** | **Pharmaceuticals** | **Pharmaceuticals** |
| Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 120215 | &nbsp;&nbsp;$10089645 |
| Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 218251 | &nbsp;&nbsp;&nbsp;&nbsp; 5561035 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48974143 |
| **Professional Services 0.5%** | **Professional Services 0.5%** | **Professional Services 0.5%** |
| Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 37298 | &nbsp;&nbsp;&nbsp;&nbsp; 4727894 |
| **Retail REITs 0.6%** | **Retail REITs 0.6%** | **Retail REITs 0.6%** |
| Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 87088 | &nbsp;&nbsp;&nbsp;&nbsp; 5294080 |
| **Semiconductors & Semiconductor Equipment 5.6%** | **Semiconductors & Semiconductor Equipment 5.6%** | **Semiconductors & Semiconductor Equipment 5.6%** |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38435 | &nbsp;&nbsp;&nbsp;&nbsp; 9443479 |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 59834 | &nbsp;&nbsp;&nbsp;&nbsp; 19739835 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 8239 | &nbsp;&nbsp;&nbsp;&nbsp; 8886585 |
| Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 93404 | &nbsp;&nbsp;&nbsp;&nbsp; 5998405 |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 40186 | &nbsp;&nbsp;&nbsp;&nbsp; 7383374 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51451678 |
| **Software 2.4%** | **Software 2.4%** | **Software 2.4%** |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 31081 | &nbsp;&nbsp;&nbsp;&nbsp; 16098404 |
| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6202764 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22301168 |
| **Specialized REITs 2.3%** | **Specialized REITs 2.3%** | **Specialized REITs 2.3%** |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435668 |
| Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8505772 |
| VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8546657 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21488097 |
| **Specialty Retail 1.5%** | **Specialty Retail 1.5%** | **Specialty Retail 1.5%** |
| Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5425054 |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8623254 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14048308 |
| **Technology Hardware, Storage & Peripherals 3.7%** | **Technology Hardware, Storage & Peripherals 3.7%** | **Technology Hardware, Storage & Peripherals 3.7%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7228946 |
| Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11260366 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6820582 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8720433 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34030327 |
| **Tobacco 1.4%** | **Tobacco 1.4%** | **Tobacco 1.4%** |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12363857 |
| **Trading Companies & Distributors 1.6%** | **Trading Companies & Distributors 1.6%** | **Trading Companies & Distributors 1.6%** |
| MSC Industrial Direct Co., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9836867 |
| Watsco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5068709 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14905576 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Water Utilities 0.6%** | **Water Utilities 0.6%** | **Water Utilities 0.6%** |
| Essential Utilities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 132411 | &nbsp;&nbsp;$5283199 |
| Total Common Stocks<br> (Cost $685,784,972) |  | &nbsp;&nbsp;&nbsp;&nbsp;900814564 |
| **Short-Term Investments 1.7%** | **Short-Term Investments 1.7%** | **Short-Term Investments 1.7%** |
| **Affiliated Investment Company 1.7%** | **Affiliated Investment Company 1.7%** | **Affiliated Investment Company 1.7%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;16022176 | &nbsp;&nbsp;&nbsp;&nbsp; 16022176 |
| **Unaffiliated Investment Company 0.0% ‡** | **Unaffiliated Investment Company 0.0% ‡** | **Unaffiliated Investment Company 0.0% ‡** |
| Invesco Government & Agency Portfolio, 4.131% (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp; 31500 | &nbsp;&nbsp;&nbsp;&nbsp; 31500 |
| Total Short-Term Investments<br> (Cost $16,053,676) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16053676 |
| Total Investments<br> (Cost $701,838,648) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;916868240 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532122 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$917400362 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $4,782,402; the total market value of collateral held by the Portfolio was $4,881,245. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $4,849,745. The Portfolio received cash collateral with a value of $31,500. |
| (b) | Current yield as of September 30, 2025. |
| (c) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$16225 | &nbsp;&nbsp;$162125 | &nbsp;&nbsp;$(162328) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$16022 | &nbsp;&nbsp;$357 | &nbsp;&nbsp;$— | &nbsp;&nbsp;16022 |

---

Abbreviation(s): <br> ADR—American Depositary Receipt <br> REIT—Real Estate Investment Trust

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $900814564 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $900814564 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 16022176 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 16022176 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 31500 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 31500 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16053676 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16053676 |
| Total Investments in Securities | &nbsp;&nbsp;$916868240 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$916868240 |

---

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

------

## NYLI VP Fidelity Institutional AM<sup>®</sup> Utilities Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 99.3%** | **Common Stocks 99.3%** | **Common Stocks 99.3%** |
| **Construction & Engineering 1.6%** | **Construction & Engineering 1.6%** | **Construction & Engineering 1.6%** |
| MasTec, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 12900 | &nbsp;&nbsp;$2745249 |
| Quanta Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28300 | &nbsp;&nbsp;&nbsp;&nbsp; 11728086 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14473335 |
| **Electric Utilities 64.4%** | **Electric Utilities 64.4%** | **Electric Utilities 64.4%** |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 121600 | &nbsp;&nbsp;&nbsp;&nbsp; 8197056 |
| American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 158400 | &nbsp;&nbsp;&nbsp;&nbsp; 17820000 |
| Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 233190 | &nbsp;&nbsp;&nbsp;&nbsp; 76735833 |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 551837 | &nbsp;&nbsp;&nbsp;&nbsp; 68289829 |
| Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 472230 | &nbsp;&nbsp;&nbsp;&nbsp; 44007114 |
| Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 399800 | &nbsp;&nbsp;&nbsp;&nbsp; 30392796 |
| Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp; 27800 | &nbsp;&nbsp;&nbsp;&nbsp; 1977692 |
| Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1041900 | &nbsp;&nbsp;&nbsp;&nbsp; 46895919 |
| NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1410519 | &nbsp;&nbsp;&nbsp;&nbsp;106480079 |
| NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 245683 | &nbsp;&nbsp;&nbsp;&nbsp; 39788362 |
| PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1883740 | &nbsp;&nbsp;&nbsp;&nbsp; 28406799 |
| PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 954869 | &nbsp;&nbsp;&nbsp;&nbsp; 35482932 |
| Southern Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27411464 |
| TXNM Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1318181 |
| Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40399198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;573603254 |
| **Electrical Equipment 2.0%** | **Electrical Equipment 2.0%** | **Electrical Equipment 2.0%** |
| GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13220350 |
| NEXTracker, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4505991 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17726341 |
| **Gas Utilities 1.4%** | **Gas Utilities 1.4%** | **Gas Utilities 1.4%** |
| UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12549830 |
| **Independent Power and Renewable Electricity Producers 9.1%** | **Independent Power and Renewable Electricity Producers 9.1%** | **Independent Power and Renewable Electricity Producers 9.1%** |
| AES Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165335 |
| Talen Energy Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15186066 |
| TransAlta Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6272467 |
| Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56187113 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80810981 |
| **Multi-Utilities 17.5%** | **Multi-Utilities 17.5%** | **Multi-Utilities 17.5%** |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34661049 |
| CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31647065 |
| NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27299437 |
| Sempra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62042020 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;155649571 |
| **Oil, Gas & Consumable Fuels 1.7%** | **Oil, Gas & Consumable Fuels 1.7%** | **Oil, Gas & Consumable Fuels 1.7%** |
| Cameco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14692272 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Semiconductors & Semiconductor Equipment 1.6%** | **Semiconductors & Semiconductor Equipment 1.6%** | **Semiconductors & Semiconductor Equipment 1.6%** |
| First Solar, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 64900 | &nbsp;&nbsp;$14312397 |
| Total Common Stocks<br> (Cost $745,728,084) |  | &nbsp;&nbsp;&nbsp;&nbsp;883817981 |
| **Short-Term Investment 0.7%** | **Short-Term Investment 0.7%** | **Short-Term Investment 0.7%** |
| **Affiliated Investment Company 0.7%** | **Affiliated Investment Company 0.7%** | **Affiliated Investment Company 0.7%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;6394067 | &nbsp;&nbsp;&nbsp;&nbsp; 6394067 |
| Total Short-Term Investment<br> (Cost $6,394,067) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6394067 |
| Total Investments<br> (Cost $752,122,151) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;890212048 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0)‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88183) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$890123865 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | Non-income producing security. |
| (b) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$38865 | &nbsp;&nbsp;$260152 | &nbsp;&nbsp;$(292623) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$6394 | &nbsp;&nbsp;$641 | &nbsp;&nbsp;$— | &nbsp;&nbsp;6394 |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $883817981 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $883817981 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 6394067 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 6394067 |
| Total Investments in Securities | &nbsp;&nbsp;$890212048 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$890212048 |

---

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

------

## NYLI VP Floating Rate Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 95.6%** | **Long-Term Bonds 95.6%** | **Long-Term Bonds 95.6%** |
| **Asset-Backed Securities 3.0%** | **Asset-Backed Securities 3.0%** | **Asset-Backed Securities 3.0%** |
| **Other Asset-Backed Securities 3.0%** | **Other Asset-Backed Securities 3.0%** | **Other Asset-Backed Securities 3.0%** |
| 720 East CLO IV Ltd. (a)(b) | 720 East CLO IV Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.318% (3 Month SOFR + 2.00%), due 4/15/37 | &nbsp;&nbsp;&nbsp;$525000 | &nbsp;&nbsp;$526248 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;8.168% (3 Month SOFR + 3.85%), due 4/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1259404 |
| 720 East CLO VI Ltd. (a)(b) | 720 East CLO VI Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.975% (3 Month SOFR + 1.65%), due 1/20/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696880 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class D2 |  |  |
| &nbsp;&nbsp;&nbsp;8.425% (3 Month SOFR + 4.10%), due 1/20/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254776 |
| 720 East CLO VIII Ltd. | 720 East CLO VIII Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2025-8A, Class D1 |  |  |
| &nbsp;&nbsp;&nbsp;6.879% (3 Month SOFR + 2.80%), due 7/20/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997532 |
| AIMCO CLO 16 Ltd. | AIMCO CLO 16 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2021-16A, Class D2R |  |  |
| &nbsp;&nbsp;&nbsp;8.522% (3 Month SOFR + 4.20%), due 7/17/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1937500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954447 |
| AIMCO CLO 20 Ltd. (a)(b) | AIMCO CLO 20 Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2023-20A, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.518% (3 Month SOFR + 2.20%), due 10/16/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001204 |
| &nbsp;&nbsp;&nbsp;Series 2023-20A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;8.318% (3 Month SOFR + 4.00%), due 10/16/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850566 |
| Ballyrock CLO 23 Ltd. | Ballyrock CLO 23 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2023-23A, Class C1R |  |  |
| &nbsp;&nbsp;&nbsp;8.068% (3 Month SOFR + 3.75%), due 4/25/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022164 |
| Elmwood CLO 26 Ltd. (a)(b) | Elmwood CLO 26 Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.329% (3 Month SOFR + 2.00%), due 4/18/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505199 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;7.929% (3 Month SOFR + 3.60%), due 4/18/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208388 |
| Elmwood CLO 35 Ltd. (a)(b) | Elmwood CLO 35 Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-11A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.979% (3 Month SOFR + 1.65%), due 10/18/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003247 |
| &nbsp;&nbsp;&nbsp;Series 2024-11A, Class D2 |  |  |
| &nbsp;&nbsp;&nbsp;8.329% (3 Month SOFR + 4.00%), due 10/18/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603686 |
| Elmwood CLO 45 Ltd. | Elmwood CLO 45 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2025-8A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;6.48% (3 Month SOFR + 2.60%), due 10/17/38 (a)(b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 |
| Empower CLO Ltd. (a)(b) | Empower CLO Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class BR |  |  |
| &nbsp;&nbsp;&nbsp;5.99% (3 Month SOFR + 1.70%), due 10/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256821 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class BR |  |  |
| &nbsp;&nbsp;&nbsp;6.075% (3 Month SOFR + 1.75%), due 10/20/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256005 |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class D1R |  |  |
| &nbsp;&nbsp;&nbsp;7.09% (3 Month SOFR + 2.80%), due 10/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253750 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class D1R |  |  |
| &nbsp;&nbsp;&nbsp;7.325% (3 Month SOFR + 3.00%), due 10/20/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255450 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| Galaxy 32 CLO Ltd. (a)(b) | Galaxy 32 CLO Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2023-32A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.625% (3 Month SOFR + 2.30%), due 10/20/36 | &nbsp;&nbsp;&nbsp;$1000000 | &nbsp;&nbsp;$1001242 |
| &nbsp;&nbsp;&nbsp;Series 2023-32A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;8.625% (3 Month SOFR + 4.30%), due 10/20/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1004377 |
| OHA Credit Funding 16 Ltd. (a)(b) | OHA Credit Funding 16 Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2023-16A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.575% (3 Month SOFR + 2.25%), due 10/20/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1001489 |
| &nbsp;&nbsp;&nbsp;Series 2023-16A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;8.325% (3 Month SOFR + 4.00%), due 10/20/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002865 |
| Palmer Square CLO Ltd. (a)(b) | Palmer Square CLO Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.318% (3 Month SOFR + 2.00%), due 4/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254329 |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class D1R |  |  |
| &nbsp;&nbsp;&nbsp;7.325% (3 Month SOFR + 3.00%), due 7/20/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628433 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;7.718% (3 Month SOFR + 3.40%), due 4/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257420 |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class D2R |  |  |
| &nbsp;&nbsp;&nbsp;8.525% (3 Month SOFR + 4.20%), due 7/20/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628074 |
| Sixth Street CLO XXIV Ltd. (a)(b) | Sixth Street CLO XXIV Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-24A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.319% (3 Month SOFR + 2.00%), due 4/23/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507487 |
| &nbsp;&nbsp;&nbsp;Series 2024-24A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;7.919% (3 Month SOFR + 3.60%), due 4/23/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511615 |
| Total Asset-Backed Securities<br> (Cost $34,055,148) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34203098 |
| **Corporate Bonds 8.8%** | **Corporate Bonds 8.8%** | **Corporate Bonds 8.8%** |
| **Aerospace & Defense 0.1%** | **Aerospace & Defense 0.1%** | **Aerospace & Defense 0.1%** |
| Spirit AeroSystems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.375%, due 11/30/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263304 |
| TransDigm, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 1/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258490 |
| &nbsp;&nbsp;&nbsp;7.125%, due 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521545 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043339 |
| **Airlines 0.4%** | **Airlines 0.4%** | **Airlines 0.4%** |
| JetBlue Airways Corp. |  |  |
| &nbsp;&nbsp;&nbsp;9.875%, due 9/20/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231398 |
| United Airlines, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, due 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199693 |
| &nbsp;&nbsp;&nbsp;4.625%, due 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590813 |
| VistaJet Malta Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;9.50%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4062929 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Auto Manufacturers 0.4%** | **Auto Manufacturers 0.4%** | **Auto Manufacturers 0.4%** |
| Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.10%, due 8/19/32 | &nbsp;&nbsp;&nbsp;$2000000 | &nbsp;&nbsp;$2048736 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.35%, due 11/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2085978 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4134714 |
| **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** |
| Adient Global Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 2/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1139011 |
| American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999766 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2138777 |
| **Building Materials 0.5%** | **Building Materials 0.5%** | **Building Materials 0.5%** |
| CP Atlas Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.75%, due 7/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885140 |
| Masterbrand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 7/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550139 |
| Miter Brands Acquisition Holdco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 4/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770440 |
| Wilsonart LLC |  |  |
| &nbsp;&nbsp;&nbsp;11.00%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6152616 |
| **Chemicals 0.8%** | **Chemicals 0.8%** | **Chemicals 0.8%** |
| ASP Unifrax Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.10% (5.85% Cash and 1.25% PIK), due 9/30/29 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98727 |
| Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543461 |
| INEOS Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 4/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216122 |
| INEOS Quattro Finance 2 plc |  |  |
| &nbsp;&nbsp;&nbsp;9.625%, due 3/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989519 |
| NOVA Chemicals Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 12/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054545 |
| Olympus Water US Holding Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236806 |
| &nbsp;&nbsp;&nbsp;9.75%, due 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574250 |
| SCIL IV LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 11/1/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349718 |
| WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 8/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278849 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9341997 |
| **Commercial Services 0.6%** | **Commercial Services 0.6%** | **Commercial Services 0.6%** |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, due 2/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996071 |
| Avis Budget Car Rental LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551780 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Commercial Services** | **Commercial Services** | **Commercial Services** |
| Avis Budget Car Rental LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 1/15/30 | &nbsp;&nbsp;&nbsp;$1000000 | &nbsp;&nbsp;$1037340 |
| Champions Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 2/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1303774 |
| Clarivate Science Holdings Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 288706 |
| &nbsp;&nbsp;&nbsp;4.875%, due 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 283509 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847872 |
| ION Platform Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, due 9/30/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695401 |
| WEX, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 3/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7412966 |
| **Computers 0.0% ‡** | **Computers 0.0% ‡** | **Computers 0.0% ‡** |
| Amentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 8/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353044 |
| **Distribution & Wholesale 0.1%** | **Distribution & Wholesale 0.1%** | **Distribution & Wholesale 0.1%** |
| Velocity Vehicle Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882302 |
| **Diversified Financial Services 0.7%** | **Diversified Financial Services 0.7%** | **Diversified Financial Services 0.7%** |
| Azorra Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 4/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315486 |
| Focus Financial Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 9/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536177 |
| GGAM Finance Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580726 |
| &nbsp;&nbsp;&nbsp;7.75%, due 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127808 |
| &nbsp;&nbsp;&nbsp;8.00%, due 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767598 |
| Jane Street Group |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 4/30/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573338 |
| TrueNoord Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 3/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062499 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7963632 |
| **Electric 0.3%** | **Electric 0.3%** | **Electric 0.3%** |
| Lightning Power LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037542 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/31/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495036 |
| XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 3/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734082 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3266660 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Engineering & Construction 0.1%** | **Engineering & Construction 0.1%** | **Engineering & Construction 0.1%** |
| Brand Industrial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;10.375%, due 8/1/30 (a) | &nbsp;&nbsp;&nbsp;$1000000 | &nbsp;&nbsp;$996813 |
| **Entertainment 0.2%** | **Entertainment 0.2%** | **Entertainment 0.2%** |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 2/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1410000 | &nbsp;&nbsp;&nbsp;&nbsp; 1450337 |
| Great Canadian Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 11/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 988836 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2439173 |
| **Environmental Control 0.1%** | **Environmental Control 0.1%** | **Environmental Control 0.1%** |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 6/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986317 |
| **Food 0.0% ‡** | **Food 0.0% ‡** | **Food 0.0% ‡** |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 12/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239042 |
| US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 1/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261735 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500777 |
| **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** |
| Magnera Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 11/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705735 |
| **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** |
| Embecta Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 2/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462500 |
| Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 10/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198271 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660771 |
| **Healthcare-Services 0.3%** | **Healthcare-Services 0.3%** | **Healthcare-Services 0.3%** |
| Concentra Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 7/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038382 |
| Fortrea Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 7/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340899 |
| LifePoint Health, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;8.375%, due 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799281 |
| &nbsp;&nbsp;&nbsp;10.00%, due 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049959 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3228521 |
| **Housewares 0.2%** | **Housewares 0.2%** | **Housewares 0.2%** |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2644340 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Insurance 0.3%** | **Insurance 0.3%** | **Insurance 0.3%** |
| Acrisure LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 2/1/29 | &nbsp;&nbsp;&nbsp;$550000 | &nbsp;&nbsp;$574041 |
| &nbsp;&nbsp;&nbsp;8.50%, due 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1102347 |
| Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 6/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2080236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756624 |
| **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 9/30/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568583 |
| **Iron & Steel 0.0% ‡** | **Iron & Steel 0.0% ‡** | **Iron & Steel 0.0% ‡** |
| Carpenter Technology Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310660 |
| **Lodging 0.0% ‡** | **Lodging 0.0% ‡** | **Lodging 0.0% ‡** |
| Boyd Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397704 |
| **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** |
| GrafTech Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 12/23/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154070 |
| GrafTech Global Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.875%, due 12/23/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767250 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921320 |
| **Media 0.4%** | **Media 0.4%** | **Media 0.4%** |
| Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;10.50%, due 7/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124501 |
| Univision Communications, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2113000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2189533 |
| &nbsp;&nbsp;&nbsp;8.50%, due 7/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5121158 |
| **Mining 0.1%** | **Mining 0.1%** | **Mining 0.1%** |
| Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 1/30/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1586570 |
| **Oil & Gas 0.3%** | **Oil & Gas 0.3%** | **Oil & Gas 0.3%** |
| Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 11/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170301 |
| SM Energy Co. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904313 |
| &nbsp;&nbsp;&nbsp;7.00%, due 8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2975308 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Oil & Gas Services 0.1%** | **Oil & Gas Services 0.1%** | **Oil & Gas Services 0.1%** |
| Star Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 8/1/31 (a) | &nbsp;&nbsp;&nbsp;$1250000 | &nbsp;&nbsp;$1240255 |
| **Packaging & Containers 0.5%** | **Packaging & Containers 0.5%** | **Packaging & Containers 0.5%** |
| Ardagh Metal Packaging Finance USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 9/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 370207 |
| Clydesdale Acquisition Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 615516 |
| &nbsp;&nbsp;&nbsp;6.875%, due 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 714000 | &nbsp;&nbsp;&nbsp;&nbsp; 732428 |
| &nbsp;&nbsp;&nbsp;8.75%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102724 |
| LABL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 10/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469267 |
| Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, due 4/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514704 |
| Trident TPI Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;12.75%, due 12/31/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842337 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5647183 |
| **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** |
| 1261229 BC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;10.00%, due 4/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358768 |
| Endo Finance Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 4/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925886 |
| Organon & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 4/30/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810283 |
| **Pipelines 0.1%** | **Pipelines 0.1%** | **Pipelines 0.1%** |
| Global Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 1/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421866 |
| NGL Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.125%, due 2/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512659 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934525 |
| **Real Estate 0.1%** | **Real Estate 0.1%** | **Real Estate 0.1%** |
| Anywhere Real Estate Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1278263 |
| **Real Estate Investment Trusts 0.2%** | **Real Estate Investment Trusts 0.2%** | **Real Estate Investment Trusts 0.2%** |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347894 |
| MPT Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 2/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722542 |
| RHP Hotel Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298685 |
| &nbsp;&nbsp;&nbsp;7.25%, due 7/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928458 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2297579 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Retail 0.3%** | **Retail 0.3%** | **Retail 0.3%** |
| 1011778 B.C. Unlimited Liability Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 10/15/30 (a) | &nbsp;&nbsp;&nbsp;$1040000 | &nbsp;&nbsp;$980120 |
| Global Auto Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.375%, due 1/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1467520 |
| LBM Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 1/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 925625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3373265 |
| **Software 0.3%** | **Software 0.3%** | **Software 0.3%** |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 6/30/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410802 |
| Rocket Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.00%, due 11/28/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2957035 |
| **Telecommunications 0.3%** | **Telecommunications 0.3%** | **Telecommunications 0.3%** |
| CommScope LLC |  |  |
| &nbsp;&nbsp;&nbsp;9.50%, due 12/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031996 |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 10/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279831 |
| Zegona Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 7/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916100 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3227927 |
| **Transportation 0.1%** | **Transportation 0.1%** | **Transportation 0.1%** |
| Stonepeak Nile Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 3/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874017 |
| **Trucking & Leasing 0.1%** | **Trucking & Leasing 0.1%** | **Trucking & Leasing 0.1%** |
| FTAI Aviation Investors LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 6/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1203500 |
| Total Corporate Bonds<br> (Cost $98,961,684) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100397182 |
| **Loan Assignments 83.8%** | **Loan Assignments 83.8%** | **Loan Assignments 83.8%** |
| **Aerospace & Defense 2.8%** | **Aerospace & Defense 2.8%** | **Aerospace & Defense 2.8%** |
| AAdvantage Loyalty IP Ltd. | AAdvantage Loyalty IP Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.575% (3 Month SOFR + 3.25%), due 5/28/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2194500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203827 |
| Arcline FM Holdings LLC (b) | Arcline FM Holdings LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.733% (1 Year SOFR + 2.75%), due 6/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399700 |
| &nbsp;&nbsp;&nbsp;First Lien 2025 New Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 New Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.578% (6 Month SOFR + 3.50%), due 6/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2826711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830244 |
| Asplundh Tree Expert LLC | Asplundh Tree Expert LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2021 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2021 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.013% (1 Month SOFR + 1.75%), due 9/6/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2450875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449534 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Aerospace & Defense** | **Aerospace & Defense** | **Aerospace & Defense** |
| Chromalloy Corp. | Chromalloy Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.542% (3 Month SOFR + 3.25%), due 3/27/31 (b) | &nbsp;&nbsp;&nbsp;$4961143 | &nbsp;&nbsp;$4968892 |
| Cobham Ultra SeniorCo SARL | Cobham Ultra SeniorCo SARL |  |
| &nbsp;&nbsp;&nbsp;First Lien USD Facility Term Loan B | &nbsp;&nbsp;&nbsp;First Lien USD Facility Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.37% (6 Month SOFR + 3.75%), due 8/3/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1953040 | &nbsp;&nbsp;&nbsp;&nbsp; 1951673 |
| Dynasty Acquisition Co., Inc. (b) | Dynasty Acquisition Co., Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 10/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371373 |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 10/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141259 |
| Engineering Research and Consulting LLC | Engineering Research and Consulting LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;9.285% (6 Month SOFR + 5.00%), due 8/15/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2582988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492583 |
| Goat Holdco LLC | Goat Holdco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 1/27/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4314160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4316857 |
| Kaman Corp. (b) | Kaman Corp. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.794% (6 Month SOFR + 2.75%), due 2/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910481 |
| &nbsp;&nbsp;&nbsp;First Lien Delayed Term Loan | &nbsp;&nbsp;&nbsp;First Lien Delayed Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.828% (3 Month SOFR + 2.50%), due 2/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8031 |
| TransDigm, Inc. (b) | TransDigm, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan K | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan K |  |
| &nbsp;&nbsp;&nbsp;6.252% (3 Month SOFR + 2.25%), due 3/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8491297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8478959 |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan L | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan L |  |
| &nbsp;&nbsp;&nbsp;6.502% (3 Month SOFR + 2.50%), due 1/19/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989106 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32512519 |
| **Animal Food 0.2%** | **Animal Food 0.2%** | **Animal Food 0.2%** |
| Alltech, Inc. | Alltech, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;8.528% (1 Month SOFR + 4.25%), due 8/13/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208426 |
| **Automobile 3.0%** | **Automobile 3.0%** | **Automobile 3.0%** |
| American Auto Auction Group LLC | American Auto Auction Group LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.502% (3 Month SOFR + 4.50%), due 5/28/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3199565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3220561 |
| American Axle & Manufacturing, Inc. | American Axle & Manufacturing, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan C | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan C |  |
| &nbsp;&nbsp;&nbsp;7.408% (1 Year SOFR + 3.25%), due 2/24/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2484375 |
| Autokiniton US Holdings, Inc. | Autokiniton US Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.43% (1 Month SOFR + 4.00%), due 4/6/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2951216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915557 |
| Clarios Global LP (b) | Clarios Global LP (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.816% (1 Month SOFR + 2.50%), due 5/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3388692 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Automobile** | **Automobile** | **Automobile** |
| Clarios Global LP (b) | Clarios Global LP (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 6 Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 6 Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 1/28/32 | &nbsp;&nbsp;&nbsp;$5000000 | &nbsp;&nbsp;$4987500 |
| First Brands Group LLC (b)(e)(f) | First Brands Group LLC (b)(e)(f) |  |
| &nbsp;&nbsp;&nbsp;First Lien 2021 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2021 Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.57% (3 Month SOFR + 5.00%), due 3/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2622064 | &nbsp;&nbsp;&nbsp;&nbsp; 927555 |
| &nbsp;&nbsp;&nbsp;First Lien 2022-II Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2022-II Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.57% (3 Month SOFR + 5.00%), due 3/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2762227 | &nbsp;&nbsp;&nbsp;&nbsp; 977138 |
| Gates Corp. | Gates Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan B5 | &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan B5 |  |
| &nbsp;&nbsp;&nbsp;5.913% (1 Month SOFR + 1.75%), due 6/4/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4446647 |
| Gates Global LLC | Gates Global LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan B4 | &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;5.913% (1 Month SOFR + 1.75%), due 11/16/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1592174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589935 |
| Mavis Tire Express Services Topco Corp. | Mavis Tire Express Services Topco Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.199% (3 Month SOFR + 3.00%), due 5/4/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5009291 |
| Wand NewCo 3, Inc. | Wand NewCo 3, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 1/30/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4153769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4135596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34082847 |
| **Banking 0.7%** | **Banking 0.7%** | **Banking 0.7%** |
| Edelman Financial Engines Center LLC (The) | Edelman Financial Engines Center LLC (The) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.316% (1 Month SOFR + 3.00%), due 4/7/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3579902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3581019 |
| Jane Street Group LLC | Jane Street Group LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Extended Term Loan | &nbsp;&nbsp;&nbsp;First Lien Extended Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.199% (3 Month SOFR + 2.00%), due 12/15/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4480407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4441903 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8022922 |
| **Beverage, Food & Tobacco 2.0%** | **Beverage, Food & Tobacco 2.0%** | **Beverage, Food & Tobacco 2.0%** |
| CHG PPC Parent LLC | CHG PPC Parent LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2021-1 US Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2021-1 US Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.278% (1 Month SOFR + 3.00%), due 12/8/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3252584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3254617 |
| Clover Holdings 2 LLC | Clover Holdings 2 LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Floating Rate Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Floating Rate Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.942% (1 Month SOFR + 3.75%), due 12/9/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2644887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642683 |
| Froneri International Ltd. (b) | Froneri International Ltd. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B4 | &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;6.197% (6 Month SOFR + 2.00%), due 9/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406454 |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.822% (1 Year SOFR + 2.50%), due 7/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993514 |
| Naked Juice LLC (b) | Naked Juice LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Third Out Term Loan | &nbsp;&nbsp;&nbsp;First Lien Third Out Term Loan |  |
| &nbsp;&nbsp;&nbsp;5.396% (5.00% PIK) (3 Month SOFR + 1.00%), due 1/24/30 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521574 |
| &nbsp;&nbsp;&nbsp;First Lien Second Out Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Out Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.352% (3 Month SOFR + 3.25%), due 1/24/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957267 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Beverage, Food & Tobacco** | **Beverage, Food & Tobacco** | **Beverage, Food & Tobacco** |
| Naked Juice LLC (b) | Naked Juice LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien First Out Term Loan | &nbsp;&nbsp;&nbsp;First Lien First Out Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.502% (3 Month SOFR + 5.50%), due 1/24/29 | &nbsp;&nbsp;&nbsp;$1547856 | &nbsp;&nbsp;$1555595 |
| Pegasus Bidco BV | Pegasus Bidco BV |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025-1 Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025-1 Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.762% (3 Month SOFR + 2.75%), due 7/12/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2552829 | &nbsp;&nbsp;&nbsp;&nbsp; 2553894 |
| Primo Brands Corp. | Primo Brands Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.252% (3 Month SOFR + 2.25%), due 3/31/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5575589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5572601 |
| Sazerac Co., Inc. | Sazerac Co., Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.70% (1 Month SOFR + 2.50%), due 6/25/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256836 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22715035 |
| **Broadcasting & Entertainment 1.8%** | **Broadcasting & Entertainment 1.8%** | **Broadcasting & Entertainment 1.8%** |
| Altice France SA | Altice France SA |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B14 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B14 |  |
| &nbsp;&nbsp;&nbsp;9.818% (3 Month SOFR + 5.50%), due 8/15/28 (b)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2940451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793428 |
| Charter Communications Operating LLC | Charter Communications Operating LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B5 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B5 |  |
| &nbsp;&nbsp;&nbsp;6.541% (3 Month SOFR + 2.25%), due 12/15/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2987463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2985969 |
| CMG Media Corp. | CMG Media Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan | &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.602% (3 Month SOFR + 3.50%), due 6/18/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1711146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635570 |
| Creative Artists Agency LLC | Creative Artists Agency LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 10/1/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5312479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5316905 |
| Gray Media, Inc. | Gray Media, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan D | &nbsp;&nbsp;&nbsp;First Lien Term Loan D |  |
| &nbsp;&nbsp;&nbsp;7.395% (1 Month SOFR + 3.00%), due 12/1/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828049 |
| Univision Communications, Inc. (b) | Univision Communications, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.528% (1 Month SOFR + 3.25%), due 1/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3986687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956787 |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Replacement Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Replacement Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.93% (1 Month SOFR + 3.50%), due 1/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2474937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2473390 |
| &nbsp;&nbsp;&nbsp;First Lien 2022 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2022 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.252% (3 Month SOFR + 4.25%), due 6/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652654 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20642752 |
| **Buildings & Real Estate 1.2%** | **Buildings & Real Estate 1.2%** | **Buildings & Real Estate 1.2%** |
| AllSpring Buyer LLC | AllSpring Buyer LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Specified Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Specified Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.813% (3 Month SOFR + 2.75%), due 11/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2147567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149804 |
| Core & Main LP | Core & Main LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan D | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan D |  |
| &nbsp;&nbsp;&nbsp;6.166% (1 Month SOFR + 2.00%), due 7/27/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099545 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Buildings & Real Estate** | **Buildings & Real Estate** | **Buildings & Real Estate** |
| Cornerstone Building Brands, Inc. (b) | Cornerstone Building Brands, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.50% (1 Month SOFR + 3.25%), due 4/12/28 | &nbsp;&nbsp;&nbsp;$422101 | &nbsp;&nbsp;$398709 |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.775% (1 Month SOFR + 5.625%), due 8/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1170000 | &nbsp;&nbsp;&nbsp;&nbsp; 1129050 |
| LSF12 Crown US Commercial Bidco LLC | LSF12 Crown US Commercial Bidco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.78% (1 Month SOFR + 3.50%), due 12/2/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4101710 |
| WEC US Holdings, Inc. | WEC US Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.53% (1 Month SOFR + 2.25%), due 1/27/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2486317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487526 |
| Wilsonart LLC | Wilsonart LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.252% (3 Month SOFR + 4.25%), due 8/5/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382890 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13749234 |
| **Capital Equipment 1.1%** | **Capital Equipment 1.1%** | **Capital Equipment 1.1%** |
| CPM Holdings, Inc. | CPM Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.78% (1 Month SOFR + 4.50%), due 9/28/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955784 |
| Crosby US Acquisition Corp. | Crosby US Acquisition Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 4 Replacement Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 4 Replacement Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.663% (1 Month SOFR + 3.50%), due 8/16/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2081242 |
| Discovery Energy Holding Corp. | Discovery Energy Holding Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.752% (3 Month SOFR + 3.75%), due 5/1/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4465011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4470592 |
| EMRLD Borrower LP | EMRLD Borrower LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Second Amendment Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Amendment Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.122% (6 Month SOFR + 2.25%), due 8/4/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2484990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2474313 |
| MIWD Holdco II LLC | MIWD Holdco II LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.066% (1 Month SOFR + 2.75%), due 3/28/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082700 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12064631 |
| **Cargo Transport 0.2%** | **Cargo Transport 0.2%** | **Cargo Transport 0.2%** |
| Stonepeak Nile Parent LLC (b) | Stonepeak Nile Parent LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.009% (1 Year SOFR + 2.25%), due 4/9/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998750 |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.079% (3 Month SOFR + 2.75%), due 4/9/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891741 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890491 |
| **Chemicals, Plastics & Rubber 5.9%** | **Chemicals, Plastics & Rubber 5.9%** | **Chemicals, Plastics & Rubber 5.9%** |
| Aruba Investments Holdings LLC (b) | Aruba Investments Holdings LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.263% (1 Month SOFR + 4.00%), due 11/24/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495212 |
| &nbsp;&nbsp;&nbsp;First Lien 2022 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2022 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.913% (1 Month SOFR + 4.75%), due 11/24/27 (g)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418026 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Chemicals, Plastics & Rubber** | **Chemicals, Plastics & Rubber** | **Chemicals, Plastics & Rubber** |
| Bakelite US Holdco, Inc. | Bakelite US Holdco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.752% (3 Month SOFR + 3.75%), due 12/23/31 (b) | &nbsp;&nbsp;&nbsp;$4960013 | &nbsp;&nbsp;$4937281 |
| Clydesdale Acquisition Holdings, Inc. (b) | Clydesdale Acquisition Holdings, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.338% (1 Month SOFR + 3.175%), due 4/13/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2440000 | &nbsp;&nbsp;&nbsp;&nbsp; 2434969 |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Closing Date Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Closing Date Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000988 | &nbsp;&nbsp;&nbsp;&nbsp; 1997008 |
| Fortis 333, Inc. | Fortis 333, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Dollar Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Dollar Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.502% (1 Month SOFR + 3.50%), due 3/29/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2477125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2458546 |
| INEOS US Finance LLC | INEOS US Finance LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2030 Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2030 Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 2/18/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2376984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166027 |
| INEOS US Petrochem LLC (b) | INEOS US Petrochem LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien 2030 Dollar Tranche Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2030 Dollar Tranche Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.013% (1 Month SOFR + 3.75%), due 3/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857071 |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;8.513% (1 Month SOFR + 4.25%), due 4/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681114 |
| Innophos Holdings, Inc. | Innophos Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.528% (1 Month SOFR + 4.25%), due 3/16/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4865607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810869 |
| Jazz Financing Lux SARL | Jazz Financing Lux SARL |  |
| &nbsp;&nbsp;&nbsp;First Lien Dollar Tranche Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Dollar Tranche Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 5/5/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2562974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2565821 |
| Koppers, Inc. | Koppers, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2023 Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien 2023 Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.66% (1 Month SOFR + 2.50%), due 4/10/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3421861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3433625 |
| Lonza Group AG | Lonza Group AG |  |
| &nbsp;&nbsp;&nbsp;First Lien USD Facility Term Loan B | &nbsp;&nbsp;&nbsp;First Lien USD Facility Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.027% (3 Month SOFR + 3.925%), due 7/3/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2112783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1899920 |
| Magnera Corp. | Magnera Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.449% (3 Month SOFR + 4.25%), due 11/4/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5278963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5232772 |
| Nouryon Finance BV (b) | Nouryon Finance BV (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien November 2024 Dollar Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien November 2024 Dollar Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;7.424% (1 Month SOFR + 3.25%), due 4/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228242 |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Dollar Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien 2024 Dollar Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.50% (1 Month SOFR + 3.25%), due 4/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4269523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4262406 |
| Olympus Water US Holding Corp. (b) | Olympus Water US Holding Corp. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.135% (1 Year SOFR + 3.25%), due 7/23/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495547 |
| &nbsp;&nbsp;&nbsp;First Lien Dollar Term Loan B6 | &nbsp;&nbsp;&nbsp;First Lien Dollar Term Loan B6 |  |
| &nbsp;&nbsp;&nbsp;7.296% (3 Month SOFR + 3.00%), due 6/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3643415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3603185 |
| OQ Chemicals International Holding GmbH | OQ Chemicals International Holding GmbH |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;8.636% (3 Month SOFR + 4.25%), due 4/8/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1718741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615617 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Chemicals, Plastics & Rubber** | **Chemicals, Plastics & Rubber** | **Chemicals, Plastics & Rubber** |
| Pasadena Performance Products LLC | Pasadena Performance Products LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025-1 Repricing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025-1 Repricing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.252% (3 Month SOFR + 3.25%), due 2/27/32 (b) | &nbsp;&nbsp;&nbsp;$665000 | &nbsp;&nbsp;$664169 |
| SCIH Salt Holdings, Inc. | SCIH Salt Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.197% (6 Month SOFR + 3.00%), due 1/31/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7079924 | &nbsp;&nbsp;&nbsp;&nbsp; 7083861 |
| Sparta US HoldCo LLC | Sparta US HoldCo LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.28% (1 Month SOFR + 3.00%), due 8/2/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853617 |
| TricorBraun Holdings, Inc. | TricorBraun Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Closing Date Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Closing Date Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 3/3/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1994805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982687 |
| Tronox Finance LLC (b) | Tronox Finance LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B 6.502% - 6.663% | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B 6.502% - 6.663% |  |
| &nbsp;&nbsp;&nbsp;(1 Month SOFR + 2.50%, 3 Month SOFR + 2.50%), due 9/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040747 |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.546% (3 Month SOFR + 2.25%), due 4/4/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898105 |
| Vibrantz Technologies, Inc. | Vibrantz Technologies, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.728% (3 Month SOFR + 4.25%), due 4/23/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2336925 |
| W.R. Grace Holdings LLC | W.R. Grace Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.002% (3 Month SOFR + 3.00%), due 8/19/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383306 |
| Windsor Holdings III LLC | Windsor Holdings III LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.916% (1 Month SOFR + 2.75%), due 8/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3430335 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67267010 |
| **Commercial Services 0.3%** | **Commercial Services 0.3%** | **Commercial Services 0.3%** |
| Champions Financing, Inc. | Champions Financing, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.948% (3 Month SOFR + 4.75%), due 2/6/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923976 |
| Prime Security Services Borrower LLC | Prime Security Services Borrower LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024-1 Refinancing Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien 2024-1 Refinancing Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.129% (6 Month SOFR + 2.00%), due 10/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2475078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2468891 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3392867 |
| **Construction & Buildings 0.2%** | **Construction & Buildings 0.2%** | **Construction & Buildings 0.2%** |
| QXO Building Products, Inc. | QXO Building Products, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 4/30/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887955 |
| Star Holding LLC | Star Holding LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.663% (1 Month SOFR + 4.50%), due 7/18/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916203 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804158 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Consumer Durables 0.1%** | **Consumer Durables 0.1%** | **Consumer Durables 0.1%** |
| SWF Holdings I Corp. (b) | SWF Holdings I Corp. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Tranche Term Loan A2 | &nbsp;&nbsp;&nbsp;First Lien Initial Tranche Term Loan A2 |  |
| &nbsp;&nbsp;&nbsp;8.278% (1 Month SOFR + 4.00%), due 10/6/28 | &nbsp;&nbsp;&nbsp;$445125 | &nbsp;&nbsp;$366115 |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan A1 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan A1 |  |
| &nbsp;&nbsp;&nbsp;8.663% (1 Month SOFR + 4.50%), due 12/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1071429 | &nbsp;&nbsp;&nbsp;&nbsp; 1074107 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440222 |
| **Containers, Packaging & Glass 1.8%** | **Containers, Packaging & Glass 1.8%** | **Containers, Packaging & Glass 1.8%** |
| Alliance Laundry Systems LLC | Alliance Laundry Systems LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.385% (1 Month SOFR + 2.25%), due 8/19/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1602754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600683 |
| Altium Packaging LLC | Altium Packaging LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 6/11/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471114 |
| Charter Next Generation, Inc. | Charter Next Generation, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Replacement Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Replacement Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.925% (1 Month SOFR + 2.75%), due 11/29/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3751802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3759306 |
| Graham Packaging Co., Inc. | Graham Packaging Co., Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 8/4/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748787 |
| Mauser Packaging Solutions Holding Co. | Mauser Packaging Solutions Holding Co. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Facility Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Facility Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.28% (1 Month SOFR + 3.00%), due 4/15/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179160 |
| Owens-Brockway Glass Container, Inc. | Owens-Brockway Glass Container, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.509% (1 Year SOFR + 2.75%), due 9/27/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534615 |
| ProAmpac PG Borrower LLC | ProAmpac PG Borrower LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B 8.195% - 8.318% | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B 8.195% - 8.318% |  |
| &nbsp;&nbsp;&nbsp;(3 Month SOFR + 4.00%), due 9/15/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5611990 |
| RLG Holdings LLC | RLG Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Closing Date Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Closing Date Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.528% (1 Month SOFR + 4.25%), due 7/7/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2241989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836189 |
| Trident TPI Holdings, Inc. | Trident TPI Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B7 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B7 |  |
| &nbsp;&nbsp;&nbsp;7.752% (3 Month SOFR + 3.75%), due 9/15/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3513276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440266 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21182110 |
| **Diversified/Conglomerate Manufacturing 1.6%** | **Diversified/Conglomerate Manufacturing 1.6%** | **Diversified/Conglomerate Manufacturing 1.6%** |
| Allied Universal Holdco LLC | Allied Universal Holdco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 7 Replacement US Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 7 Replacement US Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.513% (1 Month SOFR + 3.25%), due 8/20/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5617310 |
| Filtration Group Corp. | Filtration Group Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Dollar Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Dollar Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 10/23/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3451209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3464868 |
| Iron Mountain, Inc. | Iron Mountain, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 1 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 1 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 1/31/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734645 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Diversified/Conglomerate Manufacturing** | **Diversified/Conglomerate Manufacturing** | **Diversified/Conglomerate Manufacturing** |
| LTI Holdings, Inc. | LTI Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.913% (1 Month SOFR + 3.75%), due 7/29/29 (b) | &nbsp;&nbsp;&nbsp;$2376000 | &nbsp;&nbsp;$2393820 |
| Quikrete Holdings, Inc. | Quikrete Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 4/14/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5127853 | &nbsp;&nbsp;&nbsp;&nbsp; 5125002 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18335645 |
| **Diversified/Conglomerate Service 1.1%** | **Diversified/Conglomerate Service 1.1%** | **Diversified/Conglomerate Service 1.1%** |
| Blackhawk Network Holdings, Inc. | Blackhawk Network Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;8.163% (1 Year SOFR + 4.00%), due 3/12/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3458856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3469357 |
| Genesys Cloud Services, Inc. | Genesys Cloud Services, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.816% (1 Month SOFR + 2.50%), due 1/30/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5925225 |
| MKS, Inc. | MKS, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025-1 Dollar Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2025-1 Dollar Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.166% (1 Month SOFR + 2.00%), due 8/17/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013400 |
| TruGreen LP | TruGreen LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.263% (1 Month SOFR + 4.00%), due 11/2/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2603496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539494 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12947476 |
| **Ecological 0.3%** | **Ecological 0.3%** | **Ecological 0.3%** |
| Discovery Purchaser Corp. | Discovery Purchaser Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.082% (3 Month SOFR + 3.75%), due 10/4/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978629 |
| GFL Environmental Services, Inc. | GFL Environmental Services, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.671% (3 Month SOFR + 2.50%), due 3/3/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049126 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3027755 |
| **Electronics 5.2%** | **Electronics 5.2%** | **Electronics 5.2%** |
| Camelot US Acquisition LLC (b) | Camelot US Acquisition LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 1/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120532 |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 1/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496875 |
| Castle US Holding Corp. (b) | Castle US Holding Corp. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Second Out Dollar Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Second Out Dollar Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;8.717% (3 Month SOFR + 4.25%), due 5/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109480 |
| &nbsp;&nbsp;&nbsp;First Lien Second Out Dollar Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Second Out Dollar Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;8.967% (3 Month SOFR + 4.50%), due 5/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677912 |
| &nbsp;&nbsp;&nbsp;First Lien Initial First Out Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial First Out Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.205% (1.00% PIK) (3 Month SOFR + 6.00%), due 4/29/30 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986265 |
| CommScope, Inc. | CommScope, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.913% (1 Month SOFR + 4.75%), due 12/18/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4095684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4140737 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Electronics** | **Electronics** | **Electronics** |
| CoreLogic, Inc. | CoreLogic, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.778% (1 Month SOFR + 3.50%), due 6/2/28 (b) | &nbsp;&nbsp;&nbsp;$6289231 | &nbsp;&nbsp;$6278225 |
| Eagle Parent Corp. | Eagle Parent Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.252% (3 Month SOFR + 4.25%), due 4/2/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2725674 | &nbsp;&nbsp;&nbsp;&nbsp; 2720904 |
| Epicor Software Corp. | Epicor Software Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan E | &nbsp;&nbsp;&nbsp;First Lien Term Loan E |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 5/30/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5138082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5140893 |
| Gainwell Acquisition Corp. | Gainwell Acquisition Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.102% (3 Month SOFR + 4.00%), due 10/1/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477803 |
| ION Trading Finance Ltd. | ION Trading Finance Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Dollar Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024 Dollar Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.796% (3 Month SOFR + 3.50%), due 4/3/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688724 |
| MH Sub I LLC (b) | MH Sub I LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.252% (3 Month SOFR + 4.25%), due 5/3/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4355360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4187496 |
| &nbsp;&nbsp;&nbsp;First Lien 2024 December New Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 December New Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.413% (1 Month SOFR + 4.25%), due 12/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2947894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2705922 |
| Project Alpha Intermediate Holding, Inc. (b) | Project Alpha Intermediate Holding, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Second Amendment Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Amendment Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.546% (3 Month SOFR + 3.25%), due 10/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3456381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3464061 |
| &nbsp;&nbsp;&nbsp;Second Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;Second Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.296% (3 Month SOFR + 5.00%), due 5/9/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992500 |
| Proofpoint, Inc. (b) | Proofpoint, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.785% (1 Year SOFR + 3.00%), due 8/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202813 |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 8/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6389449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6404425 |
| Rocket Software, Inc. | Rocket Software, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.913% (1 Month SOFR + 3.75%), due 11/28/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5744576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5747449 |
| Sharp Services LLC | Sharp Services LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.983% (1 Year SOFR + 3.00%), due 9/13/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2927348 |
| SS&C Technologies, Inc. | SS&C Technologies, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B8 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B8 |  |
| &nbsp;&nbsp;&nbsp;6.316% (1 Month SOFR + 2.00%), due 5/9/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2206587 |
| Vertiv Group Corp. | Vertiv Group Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;6.03% (1 Month SOFR + 1.75%), due 8/12/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2886836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2889001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59565952 |
| **Energy (Electricity) 0.7%** | **Energy (Electricity) 0.7%** | **Energy (Electricity) 0.7%** |
| Cogentrix Finance Holdco I LLC | Cogentrix Finance Holdco I LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Repricing Term Loan | &nbsp;&nbsp;&nbsp;First Lien Repricing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.565% (1 Month SOFR + 2.25%), due 2/26/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248044 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Energy (Electricity)** | **Energy (Electricity)** | **Energy (Electricity)** |
| Lightning Power LLC | Lightning Power LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.252% (3 Month SOFR + 2.25%), due 8/18/31 (b) | &nbsp;&nbsp;&nbsp;$1977519 | &nbsp;&nbsp;$1974693 |
| Reworld Holding Corp. (b) | Reworld Holding Corp. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.385% (1 Month SOFR + 2.25%), due 11/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3755593 | &nbsp;&nbsp;&nbsp;&nbsp; 3757160 |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan C | &nbsp;&nbsp;&nbsp;First Lien Term Loan C |  |
| &nbsp;&nbsp;&nbsp;6.385% (1 Month SOFR + 2.25%), due 11/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 206772 | &nbsp;&nbsp;&nbsp;&nbsp; 206858 |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.386% (1 Month SOFR + 2.25%), due 11/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001622 |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan C | &nbsp;&nbsp;&nbsp;First Lien Term Loan C |  |
| &nbsp;&nbsp;&nbsp;6.386% (1 Month SOFR + 2.25%), due 11/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77533 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8265910 |
| **Entertainment 2.3%** | **Entertainment 2.3%** | **Entertainment 2.3%** |
| Alterra Mountain Co. (b) | Alterra Mountain Co. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B9 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B9 |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 8/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3063916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3067746 |
| &nbsp;&nbsp;&nbsp;First Lien Commitment Term Loan B8 | &nbsp;&nbsp;&nbsp;First Lien Commitment Term Loan B8 |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 5/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986037 |
| Delta 2 (Lux) SARL | Delta 2 (Lux) SARL |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.296% (3 Month SOFR + 2.00%), due 9/30/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982856 |
| EOC Borrower LLC | EOC Borrower LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 3/24/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1993129 |
| Fertitta Entertainment LLC | Fertitta Entertainment LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 1/29/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4106087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4098643 |
| Great Canadian Gaming Corp. | Great Canadian Gaming Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.753% (3 Month SOFR + 4.75%), due 11/1/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2359993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269280 |
| J&J Ventures Gaming LLC | J&J Ventures Gaming LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.663% (1 Month SOFR + 3.50%), due 4/26/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3809737 |
| TKO Worldwide Holdings LLC | TKO Worldwide Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B5 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B5 |  |
| &nbsp;&nbsp;&nbsp;6.038% (3 Month SOFR + 2.00%), due 11/21/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6596875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600998 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26808426 |
| **Finance 7.8%** | **Finance 7.8%** | **Finance 7.8%** |
| AAdvantage Loyalty IP Ltd. | AAdvantage Loyalty IP Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.575% (3 Month SOFR + 2.25%), due 4/20/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436897 |
| ADMI Corp. (b) | ADMI Corp. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 4 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 4 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.653% (1 Month SOFR + 3.375%), due 12/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350131 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Finance** | **Finance** | **Finance** |
| ADMI Corp. (b) | ADMI Corp. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 5 Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 5 Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.028% (1 Month SOFR + 3.75%), due 12/23/27 | &nbsp;&nbsp;&nbsp;$1709691 | &nbsp;&nbsp;$1611384 |
| AlixPartners LLP | AlixPartners LLP |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 8/12/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1436245 | &nbsp;&nbsp;&nbsp;&nbsp; 1426072 |
| Armor Holdco, Inc. | Armor Holdco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.916% (6 Month SOFR + 3.75%), due 12/11/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3039310 |
| Ascensus Holdings, Inc. | Ascensus Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 8/2/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4508431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4499040 |
| Azorra SOAR Finance Ltd. | Azorra SOAR Finance Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan | &nbsp;&nbsp;&nbsp;First Lien New Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.788% (3 Month SOFR + 2.75%), due 10/18/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1981978 |
| Belron Finance 2019 LLC | Belron Finance 2019 LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2031 Dollar Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2031 Dollar Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.742% (3 Month SOFR + 2.50%), due 10/16/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4721628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4741303 |
| Boost Newco Borrower LLC | Boost Newco Borrower LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.002% (3 Month SOFR + 2.00%), due 1/31/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6451331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6451331 |
| Boxer Parent Co., Inc. | Boxer Parent Co., Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2031 Replacement Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2031 Replacement Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.199% (3 Month SOFR + 3.00%), due 7/30/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4183505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4175661 |
| Covia Holdings LLC | Covia Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien First Amendment Term Loan | &nbsp;&nbsp;&nbsp;First Lien First Amendment Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.948% (3 Month SOFR + 2.75%), due 2/26/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1199993 |
| Focus Financial Partners LLC | Focus Financial Partners LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Tranche Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Incremental Tranche Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 9/15/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389362 |
| GC Ferry Acquisition I, Inc. | GC Ferry Acquisition I, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.711% (3 Month SOFR + 3.50%), due 8/16/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2562500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2534313 |
| GTCR Everest Borrower LLC | GTCR Everest Borrower LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.752% (3 Month SOFR + 2.75%), due 9/5/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143283 |
| LBM Acquisition LLC | LBM Acquisition LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 3 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 3 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.986% (1 Month SOFR + 3.75%), due 6/6/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4449118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4334183 |
| Leia Finco US LLC | Leia Finco US LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.57% (3 Month SOFR + 3.25%), due 10/9/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193067 |
| LSF11 Trinity Bidco, Inc. | LSF11 Trinity Bidco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.647% (1 Month SOFR + 2.50%), due 6/14/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4610768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4605004 |
| MX Holdings US, Inc. | MX Holdings US, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Senior USD Facility Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Senior USD Facility Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 3/17/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026000 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Finance** | **Finance** | **Finance** |
| Newfold Digital Holdings Group, Inc. | Newfold Digital Holdings Group, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.838% (1 Month SOFR + 3.50%), due 2/10/28 (b) | &nbsp;&nbsp;&nbsp;$5707763 | &nbsp;&nbsp;$2939498 |
| Osaic Holdings, Inc. | Osaic Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 8/2/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3997504 |
| Park River Holdings, Inc. (b) | Park River Holdings, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.552% (3 Month SOFR + 3.00%), due 12/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4237948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4232650 |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.485% (3 Month SOFR + 4.50%), due 3/17/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1874218 |
| Peraton Corp. | Peraton Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.013% (1 Month SOFR + 3.75%), due 2/1/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5268875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4432441 |
| Pluto Acquisition I, Inc. (b) | Pluto Acquisition I, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.242% (3 Month SOFR + 4.00%), due 9/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772759 |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan A | &nbsp;&nbsp;&nbsp;First Lien Term Loan A |  |
| &nbsp;&nbsp;&nbsp;9.503% (3 Month SOFR + 5.50%), due 6/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008986 |
| RealPage, Inc. (b) | RealPage, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.263% (3 Month SOFR + 3.00%), due 4/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2594892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586962 |
| &nbsp;&nbsp;&nbsp;First Lien 2024-1 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024-1 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.752% (3 Month SOFR + 3.75%), due 4/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2653333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2659492 |
| RealTruck Group, Inc. | RealTruck Group, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.028% (1 Month SOFR + 3.75%), due 1/31/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824422 |
| Russell Investments US Institutional Holdco, Inc. | Russell Investments US Institutional Holdco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2027 Commitment Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2027 Commitment Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.308% (1.50% PIK) (3 Month SOFR + 5.00%), due 5/28/27 (b)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4443222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4241054 |
| Spa Holdings 3 Oy | Spa Holdings 3 Oy |  |
| &nbsp;&nbsp;&nbsp;First Lien USD Facility Term Loan B | &nbsp;&nbsp;&nbsp;First Lien USD Facility Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.263% (3 Month SOFR + 4.00%), due 2/4/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1754792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1748212 |
| Speed Midco 3 SARL | Speed Midco 3 SARL |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.259% (1 Year SOFR + 2.50%), due 9/23/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599250 |
| Stonepeak Bayou Holdings LP | Stonepeak Bayou Holdings LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.509% (1 Year SOFR + 2.75%), due 10/1/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992500 |
| WCG Intermediate Corp. | WCG Intermediate Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 2/25/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3963068 |
| WIN Waste Innovations Holdings, Inc. | WIN Waste Innovations Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.028% (1 Month SOFR + 2.75%), due 3/24/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943497 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88954825 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Healthcare 2.1%** | **Healthcare 2.1%** | **Healthcare 2.1%** |
| AHP Health Partners, Inc. | AHP Health Partners, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2025 Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 9/20/32 (b) | &nbsp;&nbsp;&nbsp;$1177888 | &nbsp;&nbsp;$1177888 |
| Chariot Buyer LLC | Chariot Buyer LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 5 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 5 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 9/8/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7088886 | &nbsp;&nbsp;&nbsp;&nbsp; 7089624 |
| ICU Medical, Inc. | ICU Medical, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B 6.402% - 6.946% | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B 6.402% - 6.946% |  |
| &nbsp;&nbsp;&nbsp;(1 Month SOFR + 2.25%, 3 Month SOFR + 2.25%), due 1/8/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3067677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3071511 |
| LSCS Holdings, Inc. | LSCS Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.502% (3 Month SOFR + 4.50%), due 2/20/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2660490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2610605 |
| Medical Solutions Holdings, Inc. | Medical Solutions Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.908% (3 Month SOFR + 3.50%), due 11/1/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153988 |
| Medline Borrower LP | Medline Borrower LP |  |
| &nbsp;&nbsp;&nbsp;First Lien 2028 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2028 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 10/23/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8426464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8426472 |
| US Anesthesia Partners, Inc. | US Anesthesia Partners, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.499% (1 Month SOFR + 4.25%), due 10/2/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1895585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890846 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24420934 |
| **Healthcare & Pharmaceuticals 2.0%** | **Healthcare & Pharmaceuticals 2.0%** | **Healthcare & Pharmaceuticals 2.0%** |
| 1261229 BC Ltd. | 1261229 BC Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;10.413% (1 Month SOFR + 6.25%), due 10/8/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473806 |
| Bausch + Lomb Corp. | Bausch + Lomb Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Third Amendment Term Loan | &nbsp;&nbsp;&nbsp;First Lien Third Amendment Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.413% (1 Month SOFR + 4.25%), due 1/15/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1855350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1855350 |
| Concentra Health Services, Inc. | Concentra Health Services, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 7/28/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933970 |
| Embecta Corp. | Embecta Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.316% (1 Month SOFR + 3.00%), due 3/30/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3182560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177859 |
| Global Medical Response, Inc. | Global Medical Response, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.634% (1 Month SOFR + 3.50%), due 10/1/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500313 |
| Owens & Minor, Inc. | Owens & Minor, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;8.013% (1 Month SOFR + 3.75%), due 3/29/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2336519 |
| Paradigm Parent LLC | Paradigm Parent LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.822% (3 Month SOFR + 4.50%), due 4/16/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672188 |
| Pediatric Associates Holding Co. LLC | Pediatric Associates Holding Co. LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.82% (3 Month SOFR + 3.25%), due 12/29/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1544931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475409 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Healthcare & Pharmaceuticals** | **Healthcare & Pharmaceuticals** | **Healthcare & Pharmaceuticals** |
| Phoenix Newco, Inc. | Phoenix Newco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Sixth Amendment Term Loan | &nbsp;&nbsp;&nbsp;First Lien Sixth Amendment Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 11/15/28 (b) | &nbsp;&nbsp;&nbsp;$5166963 | &nbsp;&nbsp;$5169268 |
| Physician Partners LLC (b)(d) | Physician Partners LLC (b)(d) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Tranche Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Initial Tranche Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;5.946% (2.50% PIK) (3 Month SOFR + 1.50%), due 12/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 580983 | &nbsp;&nbsp;&nbsp;&nbsp; 249782 |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan C | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan C |  |
| &nbsp;&nbsp;&nbsp;9.946% (4.00% PIK) (3 Month SOFR + 5.50%), due 12/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362119 | &nbsp;&nbsp;&nbsp;&nbsp; 68803 |
| QuidelOrtho Corp. | QuidelOrtho Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.002% (3 Month SOFR + 4.00%), due 8/20/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684812 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22598079 |
| **Healthcare, Education & Childcare 2.7%** | **Healthcare, Education & Childcare 2.7%** | **Healthcare, Education & Childcare 2.7%** |
| Agiliti Health, Inc. | Agiliti Health, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan 7.216% - 7.291% | &nbsp;&nbsp;&nbsp;First Lien Term Loan 7.216% - 7.291% |  |
| &nbsp;&nbsp;&nbsp;(3 Month SOFR + 3.00%, 6 Month SOFR + 3.00%), due 5/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3530897 |
| Amneal Pharmaceuticals LLC | Amneal Pharmaceuticals LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 1 Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 1 Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.663% (1 Month SOFR + 3.50%), due 8/2/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990000 |
| AthenaHealth Group, Inc. | AthenaHealth Group, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 2/15/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7782708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7757694 |
| Ecovyst Catalyst Technologies LLC | Ecovyst Catalyst Technologies LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Second Amendment Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Amendment Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.308% (3 Month SOFR + 2.00%), due 6/12/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1227975 |
| Elanco Animal Health, Inc. | Elanco Animal Health, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.13% (1 Month SOFR + 1.75%), due 8/2/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855310 |
| Journey Personal Care Corp. | Journey Personal Care Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.913% (1 Month SOFR + 3.75%), due 3/1/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4894525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4845579 |
| LifePoint Health, Inc. | LifePoint Health, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;8.068% (3 Month SOFR + 3.75%), due 5/19/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1979210 |
| National Mentor Holdings, Inc. (b) | National Mentor Holdings, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan 7.852% - 8.013% | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan 7.852% - 8.013% |  |
| &nbsp;&nbsp;&nbsp;(1 Month SOFR + 3.75%, 3 Month SOFR + 3.75%), due 3/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499180 |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan C | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan C |  |
| &nbsp;&nbsp;&nbsp;7.852% (3 Month SOFR + 3.75%), due 3/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49305 |
| Organon & Co. | Organon & Co. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.408% (1 Month SOFR + 2.25%), due 5/19/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3365927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3271261 |
| Petco Health & Wellness Co., Inc. | Petco Health & Wellness Co., Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.513% (3 Month SOFR + 3.25%), due 3/3/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1376765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339395 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Healthcare, Education & Childcare** | **Healthcare, Education & Childcare** | **Healthcare, Education & Childcare** |
| Select Medical Corp. | Select Medical Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 12/3/31 (b) | &nbsp;&nbsp;&nbsp;$360572 | &nbsp;&nbsp;$359896 |
| Sound Inpatient Physicians Holdings LLC (b)(d) | Sound Inpatient Physicians Holdings LLC (b)(d) |  |
| &nbsp;&nbsp;&nbsp;First Lien PIK Term Loan B | &nbsp;&nbsp;&nbsp;First Lien PIK Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.057% (1.50% PIK) (3 Month SOFR + 3.50%), due 6/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 413212 | &nbsp;&nbsp;&nbsp;&nbsp; 400799 |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan A | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan A |  |
| &nbsp;&nbsp;&nbsp;10.057% (1.00% PIK) (3 Month SOFR + 5.50%), due 6/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334744 | &nbsp;&nbsp;&nbsp;&nbsp; 346869 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31453370 |
| **High Tech Industries 3.7%** | **High Tech Industries 3.7%** | **High Tech Industries 3.7%** |
| Altar Bidco, Inc. | Altar Bidco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.078% (1 Year SOFR + 3.10%), due 2/1/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1814062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812929 |
| Central Parent LLC | Central Parent LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.252% (3 Month SOFR + 3.25%), due 7/6/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2132626 |
| Clearwater Analytics LLC | Clearwater Analytics LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.46% (6 Month SOFR + 2.25%), due 4/21/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998750 |
| Gryphon Debt Merger Sub, Inc. | Gryphon Debt Merger Sub, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.879% (6 Month SOFR + 3.00%), due 9/13/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2443050 |
| Hanesbrands, Inc. | Hanesbrands, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Trance Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Trance Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 3/8/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3331985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340315 |
| Javelin Buyer, Inc. | Javelin Buyer, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.058% (3 Month SOFR + 2.75%), due 12/5/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796670 |
| KnowBe4, Inc. | KnowBe4, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.068% (3 Month SOFR + 3.75%), due 7/23/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983333 |
| Modena Buyer LLC | Modena Buyer LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.808% (3 Month SOFR + 4.50%), due 7/1/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468280 |
| Neon Maple US Debt Mergersub, Inc. | Neon Maple US Debt Mergersub, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 11/17/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2388015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2387162 |
| Open Text Corp. | Open Text Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;5.913% (1 Month SOFR + 1.75%), due 1/31/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2401554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2398228 |
| Plusgrade, Inc. | Plusgrade, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Replacement Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Replacement Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.502% (3 Month SOFR + 3.50%), due 3/3/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1803443 |
| Sandisk Corp. | Sandisk Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.135% (1 Month SOFR + 3.00%), due 2/21/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3745312 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **High Tech Industries** | **High Tech Industries** | **High Tech Industries** |
| Scientific Games Holdings LP | Scientific Games Holdings LP |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.285% (3 Month SOFR + 2.75%), due 4/4/29 (b) | &nbsp;&nbsp;&nbsp;$2684505 | &nbsp;&nbsp;$2660344 |
| Shift4 Payments LLC | Shift4 Payments LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 2 Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 2 Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.752% (3 Month SOFR + 2.75%), due 6/30/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 453515 |
| Sophos Holdings LLC | Sophos Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Dollar Tranche Term Loan | &nbsp;&nbsp;&nbsp;First Lien Dollar Tranche Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.778% (1 Month SOFR + 3.50%), due 3/5/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2985622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988422 |
| Star Parent, Inc. | Star Parent, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.002% (3 Month SOFR + 4.00%), due 9/27/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4432500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4428471 |
| Trans Union LLC | Trans Union LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B9 | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B9 |  |
| &nbsp;&nbsp;&nbsp;5.913% (1 Month SOFR + 1.75%), due 6/24/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4141935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4139715 |
| Viavi Solutions, Inc. | Viavi Solutions, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.325% (1 Year SOFR + 2.50%), due 10/18/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002500 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41983065 |
| **Hotel, Gaming & Leisure 1.9%** | **Hotel, Gaming & Leisure 1.9%** | **Hotel, Gaming & Leisure 1.9%** |
| Bingo Holdings I LLC | Bingo Holdings I LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.752% (3 Month SOFR + 4.75%), due 6/11/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3743749 |
| Entain Holdings Gibraltar Ltd. | Entain Holdings Gibraltar Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.37% (1 Day SOFR + 2.25%), due 10/31/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1562397 |
| Flutter Financing BV (b) | Flutter Financing BV (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;5.752% (3 Month SOFR + 1.75%), due 12/2/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963795 |
| &nbsp;&nbsp;&nbsp;First Lien Third Amendment Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Third Amendment Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.002% (3 Month SOFR + 2.00%), due 6/4/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621489 |
| Ontario Gaming GTA LP | Ontario Gaming GTA LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.24% (3 Month SOFR + 4.25%), due 8/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233755 |
| Tacala Investment Corp. | Tacala Investment Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.965% (1 Month SOFR + 3.00%), due 1/31/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4334220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4349121 |
| Voyager Parent LLC | Voyager Parent LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.752% (3 Month SOFR + 4.75%), due 7/1/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7509375 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21983681 |
| **Hotels, Motels, Inns & Gaming 2.2%** | **Hotels, Motels, Inns & Gaming 2.2%** | **Hotels, Motels, Inns & Gaming 2.2%** |
| Aimbridge Acquisition Co., Inc. (b) | Aimbridge Acquisition Co., Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien FLFO Term Loan | &nbsp;&nbsp;&nbsp;First Lien FLFO Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.765% (1 Month SOFR + 5.50%), due 3/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304409 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Hotels, Motels, Inns & Gaming** | **Hotels, Motels, Inns & Gaming** | **Hotels, Motels, Inns & Gaming** |
| Aimbridge Acquisition Co., Inc. (b) | Aimbridge Acquisition Co., Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Second Out Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Out Term Loan |  |
| &nbsp;&nbsp;&nbsp;11.765% (6.00% PIK) (1 Month SOFR + 7.614%), due 3/11/30 (d) | &nbsp;&nbsp;&nbsp;$315388 | &nbsp;&nbsp;$315388 |
| Caesars Entertainment, Inc. (b) | Caesars Entertainment, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien 2023 Incremental Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2023 Incremental Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 2/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1711500 | &nbsp;&nbsp;&nbsp;&nbsp; 1706152 |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 2/6/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1379000 | &nbsp;&nbsp;&nbsp;&nbsp; 1374518 |
| Entain plc | Entain plc |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B5 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B5 |  |
| &nbsp;&nbsp;&nbsp;6.37% (1 Day SOFR + 2.25%), due 7/30/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231509 |
| Golden Entertainment, Inc. | Golden Entertainment, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 5/27/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1832812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1837395 |
| Light & Wonder International, Inc. | Light & Wonder International, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.393% (1 Month SOFR + 2.25%), due 4/16/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3647670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3615753 |
| Oceankey US II Corp. | Oceankey US II Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.763% (1 Month SOFR + 3.50%), due 12/15/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3599716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3604216 |
| PCI Gaming Authority | PCI Gaming Authority |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 7/18/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2418512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2410047 |
| Penn Entertainment, Inc. | Penn Entertainment, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 5/3/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476271 |
| Travel + Leisure Co. | Travel + Leisure Co. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 12/14/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2853041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2858390 |
| Whatabrands LLC | Whatabrands LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024-2 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024-2 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.816% (1 Month SOFR + 2.50%), due 8/3/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4745420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4748333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25482381 |
| **Insurance 3.3%** | **Insurance 3.3%** | **Insurance 3.3%** |
| Acrisure LLC (b) | Acrisure LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B6 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B6 |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 11/6/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2621880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615326 |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 6/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2425511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2422480 |
| Alera Group, Inc. | Alera Group, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 5/31/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5333333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5349632 |
| Alliant Holdings Intermediate LLC | Alliant Holdings Intermediate LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.666% (1 Month SOFR + 2.50%), due 9/19/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3074578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066018 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Insurance** | **Insurance** | **Insurance** |
| Asurion LLC (b) | Asurion LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B9 | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B9 |  |
| &nbsp;&nbsp;&nbsp;7.528% (1 Month SOFR + 3.25%), due 7/30/27 | &nbsp;&nbsp;&nbsp;$477500 | &nbsp;&nbsp;$477102 |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B12 | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B12 |  |
| &nbsp;&nbsp;&nbsp;8.413% (1 Month SOFR + 4.25%), due 9/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 955350 | &nbsp;&nbsp;&nbsp;&nbsp; 951170 |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B13 | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B13 |  |
| &nbsp;&nbsp;&nbsp;8.413% (1 Month SOFR + 4.25%), due 9/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1168752 | &nbsp;&nbsp;&nbsp;&nbsp; 1160350 |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B11 | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B11 |  |
| &nbsp;&nbsp;&nbsp;8.513% (1 Month SOFR + 4.25%), due 8/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392618 |
| &nbsp;&nbsp;&nbsp;Second Lien New Term Loan B3 | &nbsp;&nbsp;&nbsp;Second Lien New Term Loan B3 |  |
| &nbsp;&nbsp;&nbsp;9.528% (1 Month SOFR + 5.25%), due 1/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751999 |
| &nbsp;&nbsp;&nbsp;Second Lien New Term Loan B4 | &nbsp;&nbsp;&nbsp;Second Lien New Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;9.528% (1 Month SOFR + 5.25%), due 1/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2387053 |
| Broadstreet Partners Group LLC | Broadstreet Partners Group LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 6/16/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5229887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5233882 |
| CRC Insurance Group LLC | CRC Insurance Group LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.752% (3 Month SOFR + 2.75%), due 5/6/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2315088 |
| Goosehead Insurance Holdings LLC | Goosehead Insurance Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.175% (1 Month SOFR + 3.00%), due 1/8/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496250 |
| HUB International Ltd. | HUB International Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.575% (3 Month SOFR + 2.25%), due 6/20/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001238 |
| Sedgwick Claims Management Services, Inc. | Sedgwick Claims Management Services, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.816% (1 Month SOFR + 2.50%), due 7/31/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3783008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3776388 |
| Trucordia Insurance Holdings LLC | Trucordia Insurance Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 6/17/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002500 |
| USI, Inc. | USI, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan D | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan D |  |
| &nbsp;&nbsp;&nbsp;6.252% (3 Month SOFR + 2.25%), due 11/21/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995860 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38394954 |
| **Leisure, Amusement, Motion Pictures & Entertainment 0.5%** | **Leisure, Amusement, Motion Pictures & Entertainment 0.5%** | **Leisure, Amusement, Motion Pictures & Entertainment 0.5%** |
| Bombardier Recreational Products, Inc. | Bombardier Recreational Products, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien ARR Borrowing Term Loan | &nbsp;&nbsp;&nbsp;First Lien ARR Borrowing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 12/13/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2917950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2920556 |
| Marriott Ownership Resorts, Inc. | Marriott Ownership Resorts, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 4/1/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1297343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296801 |
| TripAdvisor, Inc. | TripAdvisor, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 7/8/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127569 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5344926 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Machinery (Non-Agriculture, Non-Construct & Non-Electronic) 0.6%** | **Machinery (Non-Agriculture, Non-Construct & Non-Electronic) 0.6%** | **Machinery (Non-Agriculture, Non-Construct & Non-Electronic) 0.6%** |
| Advanced Drainage Systems, Inc. | Advanced Drainage Systems, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.63% (1 Month SOFR + 2.25%), due 7/31/26 (b) | &nbsp;&nbsp;&nbsp;$439018 | &nbsp;&nbsp;$439384 |
| Columbus McKinnon Corp. | Columbus McKinnon Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.502% (3 Month SOFR + 2.50%), due 5/15/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2392047 | &nbsp;&nbsp;&nbsp;&nbsp; 2383076 |
| Husky Injection Molding Systems Ltd. | Husky Injection Molding Systems Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 5 Refinancing Term Loan 7.915% - 7.916% | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 5 Refinancing Term Loan 7.915% - 7.916% |  |
| &nbsp;&nbsp;&nbsp;(1 Month SOFR + 3.75%, 6 Month SOFR + 3.75%), due 2/15/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4384974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4395937 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7218397 |
| **Manufacturing 1.5%** | **Manufacturing 1.5%** | **Manufacturing 1.5%** |
| Adient US LLC | Adient US LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 1/31/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990255 |
| Chart Industries, Inc. | Chart Industries, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 7 Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 7 Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.792% (3 Month SOFR + 2.50%), due 3/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809686 |
| FCG Acquisitions, Inc. | FCG Acquisitions, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 11 Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 11 Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 3/31/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2181992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185400 |
| Madison IAQ LLC | Madison IAQ LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.702% (6 Month SOFR + 2.50%), due 6/21/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2265600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2266307 |
| Pinnacle Buyer LLC | Pinnacle Buyer LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.483% (1 Year SOFR + 2.50%), due 9/13/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944335 |
| Pro Mach Group, Inc. | Pro Mach Group, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 5 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 5 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.066% (1 Month SOFR + 2.75%), due 8/31/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4979246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4984579 |
| Weber-Stephen Products LLC | Weber-Stephen Products LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.776% (1 Year SOFR + 3.75%), due 9/17/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2471875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16652437 |
| **Media 1.8%** | **Media 1.8%** | **Media 1.8%** |
| Apple Bidco LLC | Apple Bidco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 9/23/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3967385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3965968 |
| Cogeco Financing 2 LP | Cogeco Financing 2 LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.778% (1 Month SOFR + 2.50%), due 9/1/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663787 |
| Mission Broadcasting, Inc. | Mission Broadcasting, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;6.895% (1 Month SOFR + 2.50%), due 6/2/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574920 |
| Radiate Holdco LLC | Radiate Holdco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien First Out Term Loan | &nbsp;&nbsp;&nbsp;First Lien First Out Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.93% (1.50% PIK) (1 Month SOFR + 3.50%), due 9/25/29 (b)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900291 |

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Media** | **Media** | **Media** |
| Sinclair Television Group, Inc. | Sinclair Television Group, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B7 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B7 |  |
| &nbsp;&nbsp;&nbsp;8.363% (1 Month SOFR + 4.10%), due 12/31/30 (b) | &nbsp;&nbsp;&nbsp;$1445288 | &nbsp;&nbsp;$1307986 |
| Virgin Media Bristol LLC | Virgin Media Bristol LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan Y | &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan Y |  |
| &nbsp;&nbsp;&nbsp;7.373% (6 Month SOFR + 3.175%), due 3/31/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3666667 | &nbsp;&nbsp;&nbsp;&nbsp; 3611667 |
| X Corp. | X Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B3 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B3 |  |
| &nbsp;&nbsp;&nbsp;9.50%, due 10/26/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6022500 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20047119 |
| **Mining, Steel, Iron & Non-Precious Metals 0.7%** | **Mining, Steel, Iron & Non-Precious Metals 0.7%** | **Mining, Steel, Iron & Non-Precious Metals 0.7%** |
| American Rock Salt Co. LLC (b) | American Rock Salt Co. LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien First Out Term Loan 11.461% - 11.473% | &nbsp;&nbsp;&nbsp;First Lien First Out Term Loan 11.461% - 11.473% |  |
| &nbsp;&nbsp;&nbsp;(3 Month SOFR + 7.00%), due 6/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782263 |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.46% (3 Month SOFR + 4.00%), due 6/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1203714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911814 |
| Arsenal AIC Parent LLC | Arsenal AIC Parent LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 8/19/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979890 |
| GrafTech Global Enterprises, Inc. | GrafTech Global Enterprises, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;10.158% (1 Month SOFR + 6.00%), due 12/21/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2295171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2335337 |
| MRC Global (US), Inc. | MRC Global (US), Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.663% (1 Month SOFR + 3.50%), due 10/29/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196985 |
| Zekelman Industries, Inc. | Zekelman Industries, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.408% (1 Month SOFR + 2.25%), due 1/24/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2187026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2187572 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8393861 |
| **Oil & Gas 1.6%** | **Oil & Gas 1.6%** | **Oil & Gas 1.6%** |
| Compass Power Generation LLC | Compass Power Generation LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B4 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 4/16/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2198555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208174 |
| Element Materials Technology Group US Holdings, Inc. | Element Materials Technology Group US Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial USD Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial USD Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.677% (3 Month SOFR + 3.675%), due 6/22/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1663073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670003 |
| Fleet Midco I Ltd. | Fleet Midco I Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.542% (6 Month SOFR + 2.50%), due 2/21/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3167588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3167588 |
| GIP Pilot Acquisition Partners LP | GIP Pilot Acquisition Partners LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.286% (3 Month SOFR + 2.00%), due 10/4/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347840 |
| Hilcorp Energy I LP | Hilcorp Energy I LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.15% (1 Month SOFR + 2.00%), due 2/6/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853568 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Oil & Gas** | **Oil & Gas** | **Oil & Gas** |
| NGL Energy Operating LLC | NGL Energy Operating LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.663% (1 Month SOFR + 3.50%), due 2/3/31 (b) | &nbsp;&nbsp;&nbsp;$525333 | &nbsp;&nbsp;$525596 |
| Oryx Midstream Services Permian Basin LLC | Oryx Midstream Services Permian Basin LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.416% (1 Month SOFR + 2.25%), due 10/5/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1926002 | &nbsp;&nbsp;&nbsp;&nbsp; 1927205 |
| Prairie Acquiror LP | Prairie Acquiror LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;7.913% (1 Month SOFR + 3.75%), due 8/1/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2165458 |
| TransMontaigne Operating Co. LP | TransMontaigne Operating Co. LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 11/17/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2960480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2961010 |
| Traverse Midstream Partners LLC | Traverse Midstream Partners LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Advance Term Loan | &nbsp;&nbsp;&nbsp;First Lien Advance Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.808% (3 Month SOFR + 2.50%), due 2/16/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2059501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2059501 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18885943 |
| **Packaging 0.6%** | **Packaging 0.6%** | **Packaging 0.6%** |
| Berlin Packaging LLC | Berlin Packaging LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Replacement Term Loan 7.252% - 7.541% | &nbsp;&nbsp;&nbsp;First Lien 2025 Replacement Term Loan 7.252% - 7.541% |  |
| &nbsp;&nbsp;&nbsp;(1 Month SOFR + 3.25%, 3 Month SOFR + 3.25%), due 6/9/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3963110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3973569 |
| LABL, Inc. | LABL, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;9.416% (1 Month SOFR + 5.00%), due 10/30/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2928326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2398299 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6371868 |
| **Personal & Nondurable Consumer Products 1.3%** | **Personal & Nondurable Consumer Products 1.3%** | **Personal & Nondurable Consumer Products 1.3%** |
| ABG Intermediate Holdings 2 LLC | ABG Intermediate Holdings 2 LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 12/21/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5754779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5745186 |
| Foundation Building Materials | Foundation Building Materials |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.308% (3 Month SOFR + 4.00%), due 1/29/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2817716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820232 |
| Foundation Building Materials, Inc. | Foundation Building Materials, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.82% (3 Month SOFR + 3.25%), due 1/31/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690809 |
| Hunter Douglas, Inc. | Hunter Douglas, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.252% (3 Month SOFR + 3.25%), due 1/16/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3043052 |
| Leslie's Poolmart, Inc. | Leslie's Poolmart, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.028% (1 Month SOFR + 2.75%), due 3/9/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294615 |
| Perrigo Investments LLC | Perrigo Investments LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 4/20/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1399468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14993362 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Personal & Nondurable Consumer Products (Manufacturing Only) 0.5%** | **Personal & Nondurable Consumer Products (Manufacturing Only) 0.5%** | **Personal & Nondurable Consumer Products (Manufacturing Only) 0.5%** |
| SRAM LLC | SRAM LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 2/27/32 (b) | &nbsp;&nbsp;&nbsp;$2631353 | &nbsp;&nbsp;$2614907 |
| Varsity Brands, Inc. | Varsity Brands, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025-2 Replacement Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025-2 Replacement Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.026% (3 Month SOFR + 3.00%), due 8/26/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3582000 | &nbsp;&nbsp;&nbsp;&nbsp; 3582000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6196907 |
| **Personal, Food & Miscellaneous Services 0.7%** | **Personal, Food & Miscellaneous Services 0.7%** | **Personal, Food & Miscellaneous Services 0.7%** |
| Aramark Services, Inc. | Aramark Services, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B8 6.163% - 6.199% | &nbsp;&nbsp;&nbsp;First Lien Term Loan B8 6.163% - 6.199% |  |
| &nbsp;&nbsp;&nbsp;(1 Month SOFR + 2.00%, 3 Month SOFR + 2.00%), due 6/24/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365891 |
| IRB Holding Corp. | IRB Holding Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Second Replacement Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024 Second Replacement Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 12/15/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5602184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5602183 |
| KFC Holding Co. | KFC Holding Co. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2021 Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2021 Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.00% (1 Month SOFR + 1.75%), due 3/15/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1408678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413521 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8381595 |
| **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** |
| Padagis LLC | Padagis LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;9.29% (3 Month SOFR + 4.75%), due 7/6/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2104870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1894383 |
| **Retail 0.5%** | **Retail 0.5%** | **Retail 0.5%** |
| Great Outdoors Group LLC | Great Outdoors Group LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 1/23/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3728534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3729698 |
| Peer Holding III BV | Peer Holding III BV |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.248% (1 Year SOFR + 2.25%), due 9/27/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5979698 |
| **Retail Store 1.0%** | **Retail Store 1.0%** | **Retail Store 1.0%** |
| Harbor Freight Tools USA, Inc. | Harbor Freight Tools USA, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 6/11/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4315850 |
| White Cap Supply Holdings LLC | White Cap Supply Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Tranche Term Loan C | &nbsp;&nbsp;&nbsp;First Lien Facility Tranche Term Loan C |  |
| &nbsp;&nbsp;&nbsp;7.416% (1 Month SOFR + 3.25%), due 10/19/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7388846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7387590 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11703440 |
| **Services: Business 4.3%** | **Services: Business 4.3%** | **Services: Business 4.3%** |
| Amentum Holdings, Inc. | Amentum Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 9/29/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525215 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Services: Business** | **Services: Business** | **Services: Business** |
| Beach Acquisition Bidco LLC | Beach Acquisition Bidco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.308% (3 Month SOFR + 3.25%), due 9/13/32 (b) | &nbsp;&nbsp;&nbsp;$2600000 | &nbsp;&nbsp;$2610834 |
| Brown Group Holding LLC | Brown Group Holding LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B2 6.913% - 7.058% | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B2 6.913% - 7.058% |  |
| &nbsp;&nbsp;&nbsp;(1 Month SOFR + 2.75%, 3 Month SOFR + 2.75%), due 7/1/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1021936 | &nbsp;&nbsp;&nbsp;&nbsp; 1024060 |
| CHG Healthcare Services, Inc. | CHG Healthcare Services, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 7 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 7 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.046% (1 Month SOFR + 2.75%), due 9/29/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4209677 |
| ConnectWise LLC | ConnectWise LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.763% (3 Month SOFR + 3.50%), due 9/29/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1743679 |
| Examworks Bidco, Inc. | Examworks Bidco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 11/1/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3561988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3567078 |
| Fortrea Holdings, Inc. | Fortrea Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.058% (3 Month SOFR + 3.75%), due 7/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351676 |
| Grant Thornton Advisors LLC (b) | Grant Thornton Advisors LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 6/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722561 |
| &nbsp;&nbsp;&nbsp;First Lien 2025-2 Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025-2 Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 6/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245077 |
| ICON Luxembourg SARL | ICON Luxembourg SARL |  |
| &nbsp;&nbsp;&nbsp;First Lien Repriced Lux Term Loan | &nbsp;&nbsp;&nbsp;First Lien Repriced Lux Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.002% (3 Month SOFR + 2.00%), due 7/3/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336153 |
| Inizio Group Ltd. | Inizio Group Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.352% (3 Month SOFR + 4.25%), due 8/21/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3533000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3524167 |
| Mitchell International, Inc. | Mitchell International, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 6/17/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2965824 |
| MPH Acquisition Holdings LLC (b) | MPH Acquisition Holdings LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Exchange First Out Term Loan | &nbsp;&nbsp;&nbsp;First Lien Exchange First Out Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.058% (3 Month SOFR + 3.75%), due 12/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152133 |
| &nbsp;&nbsp;&nbsp;First Lien Second Out Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Out Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.17% (3 Month SOFR + 4.60%), due 12/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159955 |
| Orion US Finco, Inc. | Orion US Finco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.325% (1 Year SOFR + 3.50%), due 5/21/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5023960 |
| OVG Business Services LLC | OVG Business Services LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 6/25/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2351250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2345372 |
| Plano HoldCo, Inc. | Plano HoldCo, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Closing Date Term Loan | &nbsp;&nbsp;&nbsp;First Lien Closing Date Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.796% (3 Month SOFR + 3.50%), due 10/2/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590066 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Services: Business** | **Services: Business** | **Services: Business** |
| PRA Health Sciences, Inc. | PRA Health Sciences, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.002% (3 Month SOFR + 2.00%), due 7/3/28 (b) | &nbsp;&nbsp;&nbsp;$83555 | &nbsp;&nbsp;$83719 |
| Project Boost Purchaser LLC | Project Boost Purchaser LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.068% (3 Month SOFR + 2.75%), due 7/16/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4030792 | &nbsp;&nbsp;&nbsp;&nbsp; 4018825 |
| Prometric Holdings, Inc. | Prometric Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.913% (1 Month SOFR + 3.75%), due 6/25/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2307475 |
| Raven Acquisition Holdings LLC | Raven Acquisition Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 11/19/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485518 |
| Ryan LLC | Ryan LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.816% (1 Month SOFR + 3.50%), due 11/14/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2143207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2145217 |
| Vestis Corp. | Vestis Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.448% (3 Month SOFR + 2.25%), due 2/24/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1163750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093925 |
| WMB Holdings, Inc. | WMB Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien USD Tranche Term Loan B | &nbsp;&nbsp;&nbsp;First Lien USD Tranche Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 11/5/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530944 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49763110 |
| **Services: Consumer 0.2%** | **Services: Consumer 0.2%** | **Services: Consumer 0.2%** |
| Planet US Buyer LLC | Planet US Buyer LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.198% (3 Month SOFR + 3.00%), due 2/7/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2718100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2731011 |
| **Software 5.9%** | **Software 5.9%** | **Software 5.9%** |
| Cloud Software Group, Inc. (b) | Cloud Software Group, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.252% (3 Month SOFR + 3.25%), due 8/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3905955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3916532 |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.483% (1 Month SOFR + 3.25%), due 3/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390235 |
| Cloudera, Inc. | Cloudera, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.013% (1 Month SOFR + 3.75%), due 10/9/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445658 |
| Cornerstone OnDemand, Inc. | Cornerstone OnDemand, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.18% (1 Month SOFR + 3.75%), due 10/16/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735869 |
| Cotiviti, Inc. (b) | Cotiviti, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.03% (1 Month SOFR + 2.75%), due 5/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4632210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4582993 |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 2 Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 2 Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.03% (1 Month SOFR + 2.75%), due 3/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228125 |
| Delta Topco, Inc. | Delta Topco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Fourth Amendment Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien Fourth Amendment Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.023% (1 Month SOFR + 2.75%), due 11/30/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3505384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3468139 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Software** | **Software** | **Software** |
| Disco Parent, Inc. | Disco Parent, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.484% (3 Month SOFR + 3.25%), due 8/6/32 (b) | &nbsp;&nbsp;&nbsp;$2700000 | &nbsp;&nbsp;$2710125 |
| DS Admiral Bidco LLC | DS Admiral Bidco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.413% (1 Month SOFR + 4.25%), due 6/26/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1950795 | &nbsp;&nbsp;&nbsp;&nbsp; 1948357 |
| ECI Macola/Max Holding LLC | ECI Macola/Max Holding LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Repricing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Repricing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.752% (3 Month SOFR + 2.75%), due 5/9/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903641 |
| Ellucian Holdings, Inc. | Ellucian Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 10/9/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2418820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417006 |
| Gen Digital, Inc. | Gen Digital, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.066% (1 Month SOFR + 1.75%), due 9/12/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4014142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4003689 |
| Informatica LLC | Informatica LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 10/27/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3861140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3868379 |
| Isolved, Inc. | Isolved, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B3 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B3 |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 10/14/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580904 |
| McAfee Corp. | McAfee Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.223% (1 Month SOFR + 3.00%), due 3/1/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9826017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9351096 |
| Mitnick Corp. Purchaser, Inc. | Mitnick Corp. Purchaser, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.908% (3 Month SOFR + 4.50%), due 5/2/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393163 |
| OPAL US LLC | OPAL US LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;7.252% (3 Month SOFR + 3.25%), due 4/23/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3509296 |
| Sovos Compliance LLC | Sovos Compliance LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 3 Replacement Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 3 Replacement Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.332% (1 Month SOFR + 3.25%), due 8/13/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3966595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3970728 |
| Starlight Parent LLC | Starlight Parent LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.026% (3 Month SOFR + 4.00%), due 4/16/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205000 |
| UKG, Inc. | UKG, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.81% (3 Month SOFR + 2.50%), due 2/10/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8439188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8429517 |
| Vision Solutions, Inc. | Vision Solutions, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.57% (3 Month SOFR + 4.00%), due 4/24/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537333 |
| VS Buyer LLC | VS Buyer LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025-1 Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025-1 Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.56% (3 Month SOFR + 2.25%), due 4/14/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67752291 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Telecommunications 2.5%** | **Telecommunications 2.5%** | **Telecommunications 2.5%** |
| Avaya, Inc. | Avaya, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Exit Term Loan | &nbsp;&nbsp;&nbsp;First Lien Exit Term Loan |  |
| &nbsp;&nbsp;&nbsp;11.663% (1 Month SOFR + 7.50%), due 8/1/28 (b) | &nbsp;&nbsp;&nbsp;$125030 | &nbsp;&nbsp;$109401 |
| Azalea Topco, Inc. | Azalea Topco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 4/30/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1414312 | &nbsp;&nbsp;&nbsp;&nbsp; 1411563 |
| Cablevision Lightpath LLC | Cablevision Lightpath LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.15% (1 Month SOFR + 3.00%), due 11/30/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2423517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2425536 |
| Connect Finco SARL | Connect Finco SARL |  |
| &nbsp;&nbsp;&nbsp;First Lien First Amendment Term Loan | &nbsp;&nbsp;&nbsp;First Lien First Amendment Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.663% (1 Month SOFR + 3.50%), due 12/11/26 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575049 |
| CSC Holdings LLC | CSC Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B5 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B5 |  |
| &nbsp;&nbsp;&nbsp;8.75% (PRIME + 1.50%), due 4/15/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2499729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412239 |
| Cushman & Wakefield US Borrower LLC (b) | Cushman & Wakefield US Borrower LLC (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025-1 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025-1 Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 1/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287625 |
| &nbsp;&nbsp;&nbsp;First Lien 2025-2 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025-2 Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 1/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791557 |
| Frontier Communications Holdings LLC | Frontier Communications Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.65% (1 Month SOFR + 2.50%), due 7/1/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1687271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685162 |
| Gogo Intermediate Holdings LLC | Gogo Intermediate Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.18% (1 Month SOFR + 3.75%), due 5/1/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2468992 |
| Indy US Holdco LLC | Indy US Holdco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Thirteenth Amendment Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien Thirteenth Amendment Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 10/31/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7153728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7126902 |
| Level 3 Financing, Inc. | Level 3 Financing, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;7.215% (1 Month SOFR + 3.25%), due 3/29/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598200 |
| Lumen Technologies, Inc. (b) | Lumen Technologies, Inc. (b) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.78% (1 Month SOFR + 2.35%), due 4/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878929 |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.78% (1 Month SOFR + 2.35%), due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878744 |
| WS Audiology A/S | WS Audiology A/S |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B8 | &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B8 |  |
| &nbsp;&nbsp;&nbsp;7.81% (3 Month SOFR + 3.50%), due 2/28/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982420 |
| Zayo Group Holdings, Inc. | Zayo Group Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.374% (1 Year SOFR + 3.50%), due 3/25/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3914289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3845789 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28478108 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Utilities 0.6%** | **Utilities 0.6%** | **Utilities 0.6%** |
| Astoria Energy LLC | Astoria Energy LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Advance Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Advance Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 6/16/32 (b) | &nbsp;&nbsp;&nbsp;$1570343 | &nbsp;&nbsp;$1572698 |
| Edgewater Generation LLC | Edgewater Generation LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 8/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3191695 | &nbsp;&nbsp;&nbsp;&nbsp; 3195685 |
| Hamilton Projects Acquiror LLC | Hamilton Projects Acquiror LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 5/30/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2506477 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7274860 |
| **Water 0.6%** | **Water 0.6%** | **Water 0.6%** |
| AI Aqua Merger Sub, Inc. | AI Aqua Merger Sub, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2025 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.28% (1 Month SOFR + 3.00%), due 7/31/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6315216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6328750 |
| Total Loan Assignments<br> (Cost $975,444,130) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961589743 |
| Total Long-Term Bonds<br> (Cost $1,108,460,962) |  | &nbsp;&nbsp;&nbsp;&nbsp;1096190023 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** |
| **Fixed Income Fund 0.2%** |  |  |
| NYLI MacKay High Yield Corporate Bond Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286670 |
| Total Affiliated Investment Company<br> (Cost $2,445,688) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286670 |
| **Common Stocks 0.2%** | **Common Stocks 0.2%** | **Common Stocks 0.2%** |
| **Automobile Components 0.0% ‡** | **Automobile Components 0.0% ‡** | **Automobile Components 0.0% ‡** |
| Millennium Corporate Trust (g)(h)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Millennium Industries Corp. (g)(h)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Communications Equipment 0.0% ‡** | **Communications Equipment 0.0% ‡** | **Communications Equipment 0.0% ‡** |
| Avaya, Inc. (g)(h)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126451 |
| **Hotels, Restaurants & Leisure 0.2%** | **Hotels, Restaurants & Leisure 0.2%** | **Hotels, Restaurants & Leisure 0.2%** |
| Aimbridge Acquisition Co., Inc. (g)(h)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1892817 |
| **Machinery 0.0% ‡** | **Machinery 0.0% ‡** | **Machinery 0.0% ‡** |
| Ameriforge Group, Inc. (g)(h)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Technology Hardware, Storage & Peripherals 0.0% ‡** | **Technology Hardware, Storage & Peripherals 0.0% ‡** | **Technology Hardware, Storage & Peripherals 0.0% ‡** |
| Diebold Nixdorf, Inc. (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8023 | &nbsp;&nbsp;$457552 |
| Total Common Stocks<br> (Cost $3,898,085) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2479106 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> Warrants** |  |
| **Warrants 0.0% ‡** | **Warrants 0.0% ‡** | **Warrants 0.0% ‡** |
| **Capital Markets 0.0% ‡** | **Capital Markets 0.0% ‡** | **Capital Markets 0.0% ‡** |
| THAIHOT Investment Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Expires 10/13/27 (g)(h)(i)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Total Warrants<br> (Cost $0) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** |  |
| **Short-Term Investments 6.9%** | **Short-Term Investments 6.9%** | **Short-Term Investments 6.9%** |
| **U.S. Treasury Debt 6.9%** | **U.S. Treasury Debt 6.9%** | **U.S. Treasury Debt 6.9%** |
| U.S. Treasury Bills (k) |  |  |
| &nbsp;&nbsp;&nbsp;3.993%, due 11/18/25 | &nbsp;&nbsp;&nbsp;$22128000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22010279 |
| &nbsp;&nbsp;&nbsp;4.005%, due 10/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18049000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18008450 |
| &nbsp;&nbsp;&nbsp;4.034%, due 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002439 |
| &nbsp;&nbsp;&nbsp;4.054%, due 10/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14326409 |
| &nbsp;&nbsp;&nbsp;4.084%, due 10/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636961 |
| &nbsp;&nbsp;&nbsp;4.091%, due 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6862000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6850409 |
| &nbsp;&nbsp;&nbsp;4.231%, due 10/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4587000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4583891 |
| &nbsp;&nbsp;&nbsp;4.279%, due 10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6894000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6893230 |
| &nbsp;&nbsp;&nbsp;8.069%, due 11/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2689000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2678183 |
| Total Short-Term Investments<br> (Cost $78,991,293) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78990251 |
| Total Investments<br> (Cost $1,193,796,028) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102.9% | &nbsp;&nbsp;&nbsp;&nbsp;1179946050 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32781476) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1147164574 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (c) | Delayed delivery security. |
| (d) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
| (e) | Issue in default. |

---

------

(f) Issue in non-accrual status.

(g) Illiquid security—As of September 30, 2025, the total market value deemed illiquid under procedures approved by the Board of Trustees was $3,439,580, which represented 0.3% of the
Portfolio's net assets.

(h) Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(i) Non-income producing security.

(j) Less than $1.

(k) Interest rate shown represents yield to maturity.

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI MacKay High Yield Corporate Bond Fund Class I | &nbsp;&nbsp;$2271 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$16 | &nbsp;&nbsp;$2287 | &nbsp;&nbsp;$107 | &nbsp;&nbsp;$— | &nbsp;&nbsp;437 |

---

---

| |
|:---|
| Abbreviation(s): |
| CLO—Collateralized Loan Obligation |
| SOFR—Secured Overnight Financing Rate |
| USD—United States Dollar |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $34203098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $34203098 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 100397182 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 100397182 |
| &nbsp;&nbsp;&nbsp;Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 960171717 | &nbsp;&nbsp;&nbsp;&nbsp; 1418026 | &nbsp;&nbsp;&nbsp;&nbsp; 961589743 |
| Total Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1094771997 | &nbsp;&nbsp;&nbsp;&nbsp;1418026 | &nbsp;&nbsp;&nbsp;&nbsp;1096190023 |
| Affiliated Investment Company |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fixed Income Fund | &nbsp;&nbsp;&nbsp;&nbsp; 2286670 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2286670 |
| Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 457552 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2021554 | &nbsp;&nbsp;&nbsp;&nbsp; 2479106 |
| Warrants (b) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Debt | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 78990251 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 78990251 |
| Total Investments in Securities | &nbsp;&nbsp;$2744222 | &nbsp;&nbsp;$1173762248 | &nbsp;&nbsp;$3439580 | &nbsp;&nbsp;$1179946050 |

---

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

(b) Less than $1.

------

## NYLI VP Equity Allocation Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Affiliated Investment Companies 98.6%** | **Affiliated Investment Companies 98.6%** | **Affiliated Investment Companies 98.6%** |
| **Equity Funds 98.6%** | **Equity Funds 98.6%** | **Equity Funds 98.6%** |
| NYLI Candriam International Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 971169 | &nbsp;&nbsp;$33052766 |
| NYLI Candriam U.S. Large Cap Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 689084 | &nbsp;&nbsp;&nbsp;&nbsp; 36654307 |
| NYLI Candriam U.S. Mid Cap Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;1061329 | &nbsp;&nbsp;&nbsp;&nbsp; 35992638 |
| NYLI Epoch Capital Growth Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp; 163545 | &nbsp;&nbsp;&nbsp;&nbsp; 2712766 |
| NYLI Epoch International Choice Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp; 796033 | &nbsp;&nbsp;&nbsp;&nbsp; 37002494 |
| NYLI Fiera SMID Growth Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp;2053963 | &nbsp;&nbsp;&nbsp;&nbsp; 35834263 |
| NYLI FTSE International Equity Currency Neutral ETF | &nbsp;&nbsp;&nbsp;&nbsp; 487722 | &nbsp;&nbsp;&nbsp;&nbsp; 15124259 |
| NYLI PineStone U.S. Equity Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp;1729027 | &nbsp;&nbsp;&nbsp;&nbsp; 35875236 |
| NYLI VP American Century Sustainable Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;3218003 | &nbsp;&nbsp;&nbsp;&nbsp; 36534635 |
| NYLI VP Candriam Emerging Markets Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;4002406 | &nbsp;&nbsp;&nbsp;&nbsp; 40383473 |
| NYLI VP Dimensional U.S. Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 899468 | &nbsp;&nbsp;&nbsp;&nbsp; 33139558 |
| NYLI VP Epoch U.S. Equity Yield Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;1806680 | &nbsp;&nbsp;&nbsp;&nbsp; 36533774 |
| NYLI VP MFS<sup>®</sup> Investors Trust Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;1392271 | &nbsp;&nbsp;&nbsp;&nbsp; 15131197 |
| NYLI VP MFS<sup>®</sup> Research Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;1398066 | &nbsp;&nbsp;&nbsp;&nbsp; 15034378 |
| NYLI VP PineStone International Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;2151383 | &nbsp;&nbsp;&nbsp;&nbsp; 26047221 |
| NYLI VP Schroders Mid Cap Opportunities Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;3771222 | &nbsp;&nbsp;&nbsp;&nbsp; 35398196 |
| NYLI VP Small Cap Growth Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;2975426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36344534 |
| NYLI VP Wellington Growth Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;1014116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36074241 |
| NYLI VP Wellington Small Cap Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;3651162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37395936 |
| NYLI VP Winslow Large Cap Growth Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;1003069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35370324 |
| NYLI WMC Enduring Capital Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30789559 |
| NYLI WMC International Research Equity Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp;3822563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38139240 |
| NYLI WMC Value Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp;1044863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36379424 |
| Total Affiliated Investment Companies<br> (Cost $573,867,081) |  | &nbsp;&nbsp;&nbsp;&nbsp;720944419 |
| **Short-Term Investment 1.2%** | **Short-Term Investment 1.2%** | **Short-Term Investment 1.2%** |
| **Affiliated Investment Company 1.2%** | **Affiliated Investment Company 1.2%** | **Affiliated Investment Company 1.2%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;8994330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8994330 |
| Total Short-Term Investment<br> (Cost $8,994,330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8994330 |
| Total Investments<br> (Cost $582,861,411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.8% | &nbsp;&nbsp;&nbsp;&nbsp;729938749 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685341 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$731624090 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | As of September 30, 2025, the Portfolio's ownership exceeds 5% of the outstanding shares of the Underlying Portfolio's/Fund's share class. |
| (b) | Current yield as of September 30, 2025. |

---

------

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI Candriam International Equity ETF | &nbsp;&nbsp;$34633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6 | &nbsp;&nbsp;$(7530) | &nbsp;&nbsp;$517 | &nbsp;&nbsp;$5427 | &nbsp;&nbsp;$33053 | &nbsp;&nbsp;$709 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;971 |
| NYLI Candriam U.S. Large Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;44579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;&nbsp;(11909) | &nbsp;&nbsp;&nbsp;&nbsp;4346 | &nbsp;&nbsp;&nbsp;&nbsp;(1180) | &nbsp;&nbsp;&nbsp;&nbsp;36654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;689 |
| NYLI Candriam U.S. Mid Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;38535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5903) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786 | &nbsp;&nbsp;&nbsp;&nbsp;35993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;1061 |
| NYLI Epoch Capital Growth Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;164 |
| NYLI Epoch International Choice Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;35425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6412) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974 | &nbsp;&nbsp;&nbsp;&nbsp;6751 | &nbsp;&nbsp;&nbsp;&nbsp;37002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;796 |
| NYLI Fiera SMID Growth Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;38133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6844) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;35834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;2054 |
| NYLI FTSE International Equity Currency Neutral ETF | &nbsp;&nbsp;&nbsp;&nbsp;15694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3204) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp;1912 | &nbsp;&nbsp;&nbsp;&nbsp;15124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;488 |
| NYLI PineStone U.S. Equity Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;44337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;(11588) | &nbsp;&nbsp;&nbsp;&nbsp;1769 | &nbsp;&nbsp;&nbsp;&nbsp;1297 | &nbsp;&nbsp;&nbsp;&nbsp;35875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;1729 |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;21179 | &nbsp;&nbsp;&nbsp;111956 | &nbsp;&nbsp;&nbsp;(124141) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;8994 |
| NYLI VP American Century Sustainable Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;45582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048 | &nbsp;&nbsp;&nbsp;&nbsp;(13256) | &nbsp;&nbsp;&nbsp;(1447) | &nbsp;&nbsp;&nbsp;&nbsp;4608 | &nbsp;&nbsp;&nbsp;&nbsp;36535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;3218 |
| NYLI VP Candriam Emerging Markets Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;39936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9414) | &nbsp;&nbsp;&nbsp;(1549) | &nbsp;&nbsp;&nbsp;11411 | &nbsp;&nbsp;&nbsp;&nbsp;40384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;4002 |
| NYLI VP Dimensional U.S. Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;22812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2092) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75) | &nbsp;&nbsp;&nbsp;&nbsp;3638 | &nbsp;&nbsp;&nbsp;&nbsp;33140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;899 |
| NYLI VP Epoch U.S. Equity Yield Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;43125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(10938) | &nbsp;&nbsp;&nbsp;&nbsp;2109 | &nbsp;&nbsp;&nbsp;&nbsp;2238 | &nbsp;&nbsp;&nbsp;&nbsp;36534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;1807 |
| NYLI VP MFS<sup>®</sup> Investors Trust Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1051 | &nbsp;&nbsp;&nbsp;&nbsp;15132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;1392 |
| NYLI VP MFS<sup>®</sup> Research Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp;15034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;1398 |
| NYLI VP PineStone International Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;32093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8445) | &nbsp;&nbsp;&nbsp;(3323) | &nbsp;&nbsp;&nbsp;&nbsp;5712 | &nbsp;&nbsp;&nbsp;&nbsp;26047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;2151 |
| NYLI VP Schroders Mid Cap Opportunities Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;40119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5557) | &nbsp;&nbsp;&nbsp;(2734) | &nbsp;&nbsp;&nbsp;&nbsp;3256 | &nbsp;&nbsp;&nbsp;&nbsp;35398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;3771 |
| NYLI VP Small Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;37843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6237) | &nbsp;&nbsp;&nbsp;(1468) | &nbsp;&nbsp;&nbsp;&nbsp;2584 | &nbsp;&nbsp;&nbsp;&nbsp;36345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;2975 |
| NYLI VP Wellington Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;45732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335 | &nbsp;&nbsp;&nbsp;&nbsp;(16636) | &nbsp;&nbsp;&nbsp;&nbsp;4315 | &nbsp;&nbsp;&nbsp;&nbsp;1328 | &nbsp;&nbsp;&nbsp;&nbsp;36074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;1014 |
| NYLI VP Wellington Small Cap Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;36748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5928) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;1783 | &nbsp;&nbsp;&nbsp;&nbsp;37396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;3651 |
| NYLI VP Winslow Large Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;45709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;(16417) | &nbsp;&nbsp;&nbsp;&nbsp;2153 | &nbsp;&nbsp;&nbsp;&nbsp;3041 | &nbsp;&nbsp;&nbsp;&nbsp;35370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;1003 |
| NYLI WMC Enduring Capital Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;20834 | &nbsp;&nbsp;&nbsp;&nbsp;11972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2240) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148) | &nbsp;&nbsp;&nbsp;&nbsp;30790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;790 |
| NYLI WMC International Research Equity Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;36720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8308) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98) | &nbsp;&nbsp;&nbsp;&nbsp;9727 | &nbsp;&nbsp;&nbsp;&nbsp;38139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;3823 |
| NYLI WMC Value Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;42440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9534) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723 | &nbsp;&nbsp;&nbsp;&nbsp;2750 | &nbsp;&nbsp;&nbsp;&nbsp;36379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;1045 |
|  | &nbsp;&nbsp;$764942 | &nbsp;&nbsp;$179420 | &nbsp;&nbsp;$(292839) | &nbsp;&nbsp;$8732 | &nbsp;&nbsp;$69684 | &nbsp;&nbsp;$729939 | &nbsp;&nbsp;$2243 | &nbsp;&nbsp;$— |  |

---

------

#### Swap Contracts
Open OTC total return equity swap contracts as of September 30, 2025 were as follows<sup>1</sup>:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Swap<br> Counterparty** | &nbsp;&nbsp;**Reference Obligation** | &nbsp;&nbsp;**Floating Rate<sup>2</sup>** | &nbsp;&nbsp;**Termination<br> Date(s)** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Notional<br> Amount<br> Long/<br> (Short)<br> (000)<sup>3</sup>** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)<sup>4</sup>** |
| Citibank NA | &nbsp;&nbsp;iShares MSCI EAFE ETF | &nbsp;&nbsp;1 day FEDF minus 0.40% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;(15401) | &nbsp;&nbsp;$— |
| Citibank NA | &nbsp;&nbsp;iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;1 day FEDF plus 0.45% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;15573 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase Bank NA | &nbsp;&nbsp;J.P. Morgan IDEX Pure Size Short | &nbsp;&nbsp;1 day FEDF minus 0.13% - plus 0.13% | &nbsp;&nbsp;6/18/26 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;(8086) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase Bank NA | &nbsp;&nbsp;Russell 2000 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.49% | &nbsp;&nbsp;4/8/26 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;6377 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P 500 Communication Services | &nbsp;&nbsp;1 day FEDF plus 0.45% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;8161 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P 500 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.95% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;5338 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P Midcap 400 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.85% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;6037 | &nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;$— |

---

1. As of September 30, 2025, cash in the amount $1,250,000 was pledged to brokers for OTC swap contracts.

2. Portfolio pays the floating rate and receives the total return of the reference entity.

3. Notional amounts reflected as a positive value indicate a long position held by the Portfolio or Index and a negative value indicates a short position.

4. Reflects the value at reset date as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| EAFE—Europe, Australasia and Far East |
| ETF—Exchange-Traded Fund |
| FEDF—Federal Funds Rate |
| FTSE—Financial Times Stock Exchange |
| MSCI—Morgan Stanley Capital International |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Affiliated Investment Companies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Funds | &nbsp;&nbsp; $720944419 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $720944419 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 8994330 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 8994330 |
| Total Investments in Securities | &nbsp;&nbsp;$729938749 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$729938749 |

---

(a) For a complete listing of investments, see the Portfolio of Investments.

------

## NYLI VP Income Builder Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 36.9%** | **Long-Term Bonds 36.9%** | **Long-Term Bonds 36.9%** |
| **Asset-Backed Securities 4.2%** | **Asset-Backed Securities 4.2%** | **Asset-Backed Securities 4.2%** |
| **Automobile Asset-Backed Securities 1.5%** | **Automobile Asset-Backed Securities 1.5%** | **Automobile Asset-Backed Securities 1.5%** |
| Ally Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class G |  |  |
| &nbsp;&nbsp;&nbsp;12.748%, due 5/17/32 (a) | &nbsp;&nbsp;&nbsp;$406062 | &nbsp;&nbsp;$419411 |
| Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class E |  |  |
| &nbsp;&nbsp;&nbsp;6.62%, due 5/17/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690000 | &nbsp;&nbsp;&nbsp;&nbsp; 686883 |
| Carmax Select Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.33%, due 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558754 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;3.04%, due 12/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845435 |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;6.34%, due 10/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828589 |
| &nbsp;&nbsp;&nbsp;Series 2023-4A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;6.95%, due 12/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123380 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;7.81%, due 10/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914009 |
| &nbsp;&nbsp;&nbsp;Series 2022-5A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;10.45%, due 4/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223111 |
| Exeter Select Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-2, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.34%, due 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502827 |
| Flagship Credit Auto Trust (a) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class D |  |  |
| &nbsp;&nbsp;&nbsp;1.27%, due 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338908 |
| &nbsp;&nbsp;&nbsp;Series 2020-3, Class D |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29862 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class E |  |  |
| &nbsp;&nbsp;&nbsp;3.32%, due 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537017 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.80%, due 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596904 |
| Hertz Vehicle Financing III LP |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.34%, due 12/27/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620916 |
| Huntington Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2, Class D |  |  |
| &nbsp;&nbsp;&nbsp;8.389% (SOFR 30A + 4.00%), due 10/20/32 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416723 |
| OneMain Direct Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.68%, due 4/14/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399053 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8041782 |
| **Home Equity Asset-Backed Security 0.1%** | **Home Equity Asset-Backed Security 0.1%** | **Home Equity Asset-Backed Security 0.1%** |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CES5, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.846%, due 8/25/44 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372609 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities 2.6%** | **Other Asset-Backed Securities 2.6%** | **Other Asset-Backed Securities 2.6%** |
| AGL CLO 32 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-32A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.705% (3 Month SOFR + 1.38%), due 7/21/37 (a)(b) | &nbsp;&nbsp;&nbsp;$400000 | &nbsp;&nbsp;$401546 |
| AGL CLO 35 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-35A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.875% (3 Month SOFR + 1.55%), due 1/21/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250476 |
| AIMCO CLO |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-AA, Class B1R |  |  |
| &nbsp;&nbsp;&nbsp;5.972% (3 Month SOFR + 1.65%), due 10/17/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401918 |
| American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.65%, due 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441638 |
| &nbsp;&nbsp;&nbsp;Series 2019-1, Class B |  |  |
| &nbsp;&nbsp;&nbsp;3.85%, due 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258398 |
| Apidos CLO |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-18A, Class BR2 |  |  |
| &nbsp;&nbsp;&nbsp;6.032% (3 Month SOFR + 1.70%), due 1/22/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502473 |
| Apidos CLO LI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-51A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.875% (3 Month SOFR + 1.55%), due 1/20/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249829 |
| ARES Direct Lending CLO 3 LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;6.075% (3 Month SOFR + 1.75%), due 1/20/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250224 |
| Bain Capital Credit CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-6A, Class DR |  |  |
| &nbsp;&nbsp;&nbsp;7.275% (3 Month SOFR + 2.95%), due 10/21/34 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249356 |
| British Airways Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;2.90%, due 3/15/35 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621310 |
| CF Hippolyta Issuer LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;1.53%, due 3/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261627 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;1.69%, due 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653654 |
| CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;5.789%, due 1/10/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR2, Class C |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/17/39 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590019 |
| Flexential Issuer |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class C |  |  |
| &nbsp;&nbsp;&nbsp;6.93%, due 11/27/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393236 |
| Fortress Credit Opportunities XXI CLO LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-21A, Class A1TR |  |  |
| &nbsp;&nbsp;&nbsp;5.895% (3 Month SOFR + 1.57%), due 1/21/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400889 |
| Golub Capital Partners CLO 67M |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-67A, Class CR |  |  |
| &nbsp;&nbsp;&nbsp;6.43% (3 Month SOFR + 2.20%), due 5/9/36 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275244 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| Golub Capital Partners CLO 76 B Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-76A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.688% (3 Month SOFR + 1.37%), due 10/25/37 (a)(b) | &nbsp;&nbsp;&nbsp;$350000 | &nbsp;&nbsp;$351089 |
| Golub Capital Partners CLO 78M |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-78A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.705% (3 Month SOFR + 1.38%), due 4/21/39 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 529791 |
| Great Lakes CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class ARR |  |  |
| &nbsp;&nbsp;&nbsp;5.798% (3 Month SOFR + 1.48%), due 4/15/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457886 |
| Home Partners of America Trust (a) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;1.901%, due 12/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232602 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class B |  |  |
| &nbsp;&nbsp;&nbsp;2.302%, due 12/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242635 |
| HPEFS Equipment Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.82%, due 11/20/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639393 |
| Ivy Hill Middle Market Credit Fund VII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 7A, Class AR3 |  |  |
| &nbsp;&nbsp;&nbsp;5.918% (3 Month SOFR + 1.60%), due 10/15/36 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250213 |
| New Economy Assets Phase 1 Sponsor LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;1.91%, due 10/20/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296122 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;2.41%, due 10/20/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169357 |
| OCP CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-14A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.695% (3 Month SOFR + 1.37%), due 7/20/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351051 |
| Owl Rock CLO XX LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-20A, Class C |  |  |
| &nbsp;&nbsp;&nbsp;6.419% (3 Month SOFR + 2.10%), due 10/24/34 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247446 |
| Rad CLO 25 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-25A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.785% (3 Month SOFR + 1.46%), due 7/20/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251279 |
| Regatta 30 Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-4A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.968% (3 Month SOFR + 1.65%), due 1/25/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401238 |
| Regatta XI Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;5.722% (3 Month SOFR + 1.40%), due 7/17/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350877 |
| RIN V LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.658% (3 Month SOFR + 1.34%), due 10/14/36 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449998 |
| Signal Peak CLO 12 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-12A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.729% (3 Month SOFR + 1.40%), due 7/18/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271074 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| Silver Point SCF CLO IV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2R |  |  |
| &nbsp;&nbsp;&nbsp;6.268% (3 Month SOFR + 1.95%), due 10/15/36 (a)(b) | &nbsp;&nbsp;&nbsp;$250000 | &nbsp;&nbsp;$251479 |
| Subway Funding LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A23 |  |  |
| &nbsp;&nbsp;&nbsp;5.914%, due 7/30/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496250 | &nbsp;&nbsp;&nbsp;&nbsp; 494288 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2I |  |  |
| &nbsp;&nbsp;&nbsp;6.028%, due 7/30/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 486325 | &nbsp;&nbsp;&nbsp;&nbsp; 493039 |
| Texas Debt Capital CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.019% (3 Month SOFR + 1.70%), due 1/24/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251512 |
| United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322201 |
| Vantage Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;2.165%, due 10/15/46 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433310 |
| Zayo Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.088%, due 3/20/55 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648550 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14590093 |
| Total Asset-Backed Securities<br> (Cost $23,115,989) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23004484 |
| **Corporate Bonds 11.6%** | **Corporate Bonds 11.6%** | **Corporate Bonds 11.6%** |
| **Airlines 0.3%** | **Airlines 0.3%** | **Airlines 0.3%** |
| American Airlines, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150066 |
| &nbsp;&nbsp;&nbsp;5.75%, due 4/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361377 |
| Avianca Midco 2 plc |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;9.625%, due 2/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422747 |
| Delta Air Lines, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38828 |
| &nbsp;&nbsp;&nbsp;4.75%, due 10/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905061 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878079 |
| **Auto Manufacturers 0.7%** | **Auto Manufacturers 0.7%** | **Auto Manufacturers 0.7%** |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.70%, due 8/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585411 |
| &nbsp;&nbsp;&nbsp;4.125%, due 8/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477070 |
| &nbsp;&nbsp;&nbsp;6.80%, due 5/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379083 |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.35%, due 1/8/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304767 |
| &nbsp;&nbsp;&nbsp;2.70%, due 6/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433593 |
| &nbsp;&nbsp;&nbsp;4.30%, due 4/6/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466541 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Auto Manufacturers** | **Auto Manufacturers** | **Auto Manufacturers** |
| Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;1.85%, due 9/16/26 (a) | &nbsp;&nbsp;&nbsp;$1350000 | &nbsp;&nbsp;$1301287 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3947752 |
| **Banks 3.3%** | **Banks 3.3%** | **Banks 3.3%** |
| Australia & New Zealand Banking Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.731% (5 Year Treasury Constant Maturity Rate + 1.618%), due 9/18/34 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 604699 |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;5.294%, due 8/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 611457 |
| &nbsp;&nbsp;&nbsp;6.35%, due 3/14/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643264 |
| Bank of America Corp. (d) |  |  |
| &nbsp;&nbsp;&nbsp;2.496% (3-month SOFR), due 2/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601577 |
| &nbsp;&nbsp;&nbsp;2.572% (SOFRRATE), due 10/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457094 |
| &nbsp;&nbsp;&nbsp;2.687%, due 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423606 |
| Barclays plc (b)(e) |  |  |
| &nbsp;&nbsp;&nbsp;4.375% (5 Year Treasury Constant Maturity Rate + 3.41%), due 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801042 |
| &nbsp;&nbsp;&nbsp;8.00% (5 Year Treasury Constant Maturity Rate + 5.431%), due 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275222 |
| BNP Paribas SA (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.052%, due 1/13/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531500 |
| &nbsp;&nbsp;&nbsp;4.625% (5 Year Treasury Constant Maturity Rate + 3.196%), due 1/12/27 (b)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615150 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;2.045%, due 10/19/27 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517367 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.411% (5 Year Treasury Constant Maturity Rate + 1.73%), due 9/19/39 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426440 |
| &nbsp;&nbsp;&nbsp;6.625%, due 6/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210754 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.638%, due 9/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461354 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;4.75% (5 Year Treasury Constant Maturity Rate + 3.237%), due 3/23/29 (a)(b)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565515 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;3.035%, due 5/28/32 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232939 |
| &nbsp;&nbsp;&nbsp;5.401% (SOFR + 1.219%), due 11/16/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823796 |
| First Horizon Bank |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840838 |
| First Horizon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.514%, due 3/7/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344838 |
| Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;1.992%, due 1/27/32 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423567 |
| &nbsp;&nbsp;&nbsp;6.75%, due 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178143 |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 11/21/25 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200728 |
| KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 8/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441773 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;6.401%, due 3/6/35 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293004 |
| Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;4.582%, due 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508098 |
| &nbsp;&nbsp;&nbsp;4.976% (1 Year Treasury Constant Maturity Rate + 2.30%), due 8/11/33 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370059 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Banks** | **Banks** | **Banks** |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.385%, due 1/16/36 (d) | &nbsp;&nbsp;&nbsp;$190000 | &nbsp;&nbsp;$192621 |
| Morgan Stanley (d) |  |  |
| &nbsp;&nbsp;&nbsp;2.484%, due 9/16/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 768735 |
| &nbsp;&nbsp;&nbsp;2.511%, due 10/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 645000 | &nbsp;&nbsp;&nbsp;&nbsp; 575442 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.499%, due 3/9/29 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 354739 |
| Societe Generale SA (a)(b)(e) |  |  |
| &nbsp;&nbsp;&nbsp;4.75% (5 Year Treasury Constant Maturity Rate + 3.931%), due 5/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391185 |
| &nbsp;&nbsp;&nbsp;5.375% (5 Year Treasury Constant Maturity Rate + 4.514%), due 11/18/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762929 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.153%, due 8/5/32 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396227 |
| UBS Group AG (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.091%, due 5/14/32 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462683 |
| &nbsp;&nbsp;&nbsp;4.375% (5 Year Treasury Constant Maturity Rate + 3.313%), due 2/10/31 (b)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914127 |
| &nbsp;&nbsp;&nbsp;4.751% (1 Year Treasury Constant Maturity Rate + 1.75%), due 5/12/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161369 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;3.35% (SOFR), due 3/2/33 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363041 |
| Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.02% (5 Year Treasury Constant Maturity Rate + 1.53%), due 11/18/36 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18222300 |
| **Building Materials 0.0% ‡** | **Building Materials 0.0% ‡** | **Building Materials 0.0% ‡** |
| JH North America Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 1/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71072 |
| &nbsp;&nbsp;&nbsp;6.125%, due 7/31/32 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128034 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199106 |
| **Chemicals 0.4%** | **Chemicals 0.4%** | **Chemicals 0.4%** |
| Braskem Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 1/10/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320834 |
| Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.20%, due 11/15/33 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467821 |
| Huntsman International LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699586 |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251907 |
| Sasol Financing USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 5/3/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2414426 |
| **Commercial Services 0.2%** | **Commercial Services 0.2%** | **Commercial Services 0.2%** |
| Ashtead Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 5/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376774 |
| Belron UK Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 10/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526778 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Commercial Services** | **Commercial Services** | **Commercial Services** |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 6/15/30 (a) | &nbsp;&nbsp;&nbsp;$290000 | &nbsp;&nbsp;$301231 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204783 |
| **Computers 0.0% ‡** | **Computers 0.0% ‡** | **Computers 0.0% ‡** |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, due 12/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 176366 |
| **Diversified Financial Services 0.9%** | **Diversified Financial Services 0.9%** | **Diversified Financial Services 0.9%** |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;2.45%, due 10/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653352 |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.992%, due 6/13/29 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279802 |
| Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;1.95%, due 1/30/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515403 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;2.125%, due 2/21/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638357 |
| Banco BTG Pactual SA |  |  |
| &nbsp;&nbsp;&nbsp;2.75%, due 1/11/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501156 |
| Capital One Financial Corp. (d) |  |  |
| &nbsp;&nbsp;&nbsp;5.197%, due 9/11/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242305 |
| &nbsp;&nbsp;&nbsp;6.051%, due 2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84922 |
| &nbsp;&nbsp;&nbsp;6.312%, due 6/8/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540241 |
| Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.20%, due 4/14/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138216 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381945 |
| &nbsp;&nbsp;&nbsp;7.50%, due 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433825 |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 3/6/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484009 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4893533 |
| **Electric 1.4%** | **Electric 1.4%** | **Electric 1.4%** |
| AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473772 |
| Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.20%, due 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654639 |
| Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 3/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290148 |
| Duke Energy Ohio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, due 2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472340 |
| Duquesne Light Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.616%, due 8/1/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847284 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;7.875% (5 Year Treasury Constant Maturity Rate + 3.658%), due 6/15/54 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229249 |
| EnfraGen Energia Sur SA |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 12/30/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395675 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Electric** | **Electric** | **Electric** |
| Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.75%, due 3/1/32 (a) | &nbsp;&nbsp;&nbsp;$700000 | &nbsp;&nbsp;$625879 |
| Nevada Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;Series GG |  |  |
| &nbsp;&nbsp;&nbsp;5.90%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 233971 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/15/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 524464 |
| Ohio Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;Series R |  |  |
| &nbsp;&nbsp;&nbsp;2.90%, due 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261338 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;7.375% (5 Year Treasury Constant Maturity Rate + 3.319%), due 9/15/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278998 |
| Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 1/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205691 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393391 |
| &nbsp;&nbsp;&nbsp;5.70%, due 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154940 |
| Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.95%, due 11/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278190 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 4/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313763 |
| XPLR Infrastructure Operating Partners LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310019 |
| &nbsp;&nbsp;&nbsp;7.25%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436358 |
| &nbsp;&nbsp;&nbsp;8.375%, due 1/15/31 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309160 |
| Zorlu Enerji Elektrik Uretim A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;11.00%, due 4/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266633 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7955902 |
| **Engineering & Construction 0.0% ‡** | **Engineering & Construction 0.0% ‡** | **Engineering & Construction 0.0% ‡** |
| Great Lakes Dredge & Dock Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208315 |
| **Food 0.5%** | **Food 0.5%** | **Food 0.5%** |
| Grupo Nutresa SA |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 5/12/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214150 |
| &nbsp;&nbsp;&nbsp;9.00%, due 5/12/35 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232531 |
| JBS USA Holding LUX SARL |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615110 |
| Minerva Luxembourg SA |  |  |
| &nbsp;&nbsp;&nbsp;8.875%, due 9/13/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691815 |
| Post Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107439 |
| &nbsp;&nbsp;&nbsp;4.625%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247751 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Food** | **Food** | **Food** |
| Smithfield Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 2/1/27 (a) | &nbsp;&nbsp;&nbsp;$500000 | &nbsp;&nbsp;$496588 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605384 |
| **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** |
| Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 591283 |
| **Gas 0.2%** | **Gas 0.2%** | **Gas 0.2%** |
| Brooklyn Union Gas Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;6.388%, due 9/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458111 |
| National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.95%, due 3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410609 |
| Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;Series VV |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, due 1/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270063 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138783 |
| **Healthcare-Services 0.1%** | **Healthcare-Services 0.1%** | **Healthcare-Services 0.1%** |
| Prime Healthcare Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.375%, due 9/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343200 |
| **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** |
| Belrose Funding Trust II |  |  |
| &nbsp;&nbsp;&nbsp;6.792%, due 5/15/55 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411516 |
| **Internet 0.2%** | **Internet 0.2%** | **Internet 0.2%** |
| Cogent Communications Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 7/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495458 |
| Rakuten Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.75%, due 4/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528498 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023956 |
| **Iron & Steel 0.1%** | **Iron & Steel 0.1%** | **Iron & Steel 0.1%** |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 4/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329204 |
| Samarco Mineracao SA |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;9.50% (9.00% PIK), due 6/30/31 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205510 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534714 |
| **Lodging 0.3%** | **Lodging 0.3%** | **Lodging 0.3%** |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 4/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561366 |
| Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562293 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Lodging** | **Lodging** | **Lodging** |
| Studio City Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/15/29 (a) | &nbsp;&nbsp;&nbsp;$505000 | &nbsp;&nbsp;$486603 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610262 |
| **Machinery—Construction & Mining 0.1%** | **Machinery—Construction & Mining 0.1%** | **Machinery—Construction & Mining 0.1%** |
| Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 10/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 432946 |
| **Media 0.1%** | **Media 0.1%** | **Media 0.1%** |
| Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 11/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541704 |
| **Mining 0.2%** | **Mining 0.2%** | **Mining 0.2%** |
| Perenti Finance Pty. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 4/26/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381641 |
| Vedanta Resources Finance II plc |  |  |
| &nbsp;&nbsp;&nbsp;9.85%, due 4/24/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518974 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;10.875%, due 9/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287844 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188459 |
| **Miscellaneous—Manufacturing 0.1%** | **Miscellaneous—Manufacturing 0.1%** | **Miscellaneous—Manufacturing 0.1%** |
| Textron Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.208% (3 Month SOFR + 1.997%), due 2/15/42 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510534 |
| **Oil & Gas 0.1%** | **Oil & Gas 0.1%** | **Oil & Gas 0.1%** |
| Energean Israel Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 3/30/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63853 |
| Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 2/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635389 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699242 |
| **Packaging & Containers 0.0% ‡** | **Packaging & Containers 0.0% ‡** | **Packaging & Containers 0.0% ‡** |
| Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 7/15/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40006 |
| **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |
| &nbsp;&nbsp;&nbsp;3.15%, due 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139476 |
| &nbsp;&nbsp;&nbsp;4.75%, due 5/9/27 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329539 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469015 |
| **Pipelines 0.9%** | **Pipelines 0.9%** | **Pipelines 0.9%** |
| Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.742%, due 12/31/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561960 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Pipelines** | **Pipelines** | **Pipelines** |
| Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.544%, due 11/15/53 (a) | &nbsp;&nbsp;&nbsp;$180000 | &nbsp;&nbsp;$193079 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, due 4/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 478228 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.35%, due 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 105486 |
| Flex Intermediate Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.363%, due 6/30/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865000 | &nbsp;&nbsp;&nbsp;&nbsp; 795636 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;2.65%, due 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670200 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 1/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265646 |
| &nbsp;&nbsp;&nbsp;6.25%, due 10/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401131 |
| Transcontinental Gas Pipe Line Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.60%, due 3/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728808 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 2/1/50 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548292 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4748466 |
| **Real Estate 0.0% ‡** | **Real Estate 0.0% ‡** | **Real Estate 0.0% ‡** |
| Alpha Star Holding IX Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 8/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215050 |
| **Real Estate Investment Trusts 0.5%** | **Real Estate Investment Trusts 0.5%** | **Real Estate Investment Trusts 0.5%** |
| GLP Capital LP |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784428 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, due 1/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411436 |
| Trust Fibra Uno |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, due 2/13/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511847 |
| &nbsp;&nbsp;&nbsp;8.25%, due 1/23/37 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450439 |
| Uniti Group LP |  |  |
| &nbsp;&nbsp;&nbsp;10.50%, due 2/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404429 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2562579 |
| **Retail 0.3%** | **Retail 0.3%** | **Retail 0.3%** |
| Arcos Dorados BV |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 1/29/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600780 |
| AutoNation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309691 |
| Bath & Body Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 10/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628713 |
| Sally Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/1/32 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192328 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731512 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Semiconductors 0.1%** | **Semiconductors 0.1%** | **Semiconductors 0.1%** |
| Kioxia Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 7/24/30 (a) | &nbsp;&nbsp;&nbsp;$475000 | &nbsp;&nbsp;$484502 |
| **Telecommunications 0.2%** | **Telecommunications 0.2%** | **Telecommunications 0.2%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 680000 | &nbsp;&nbsp;&nbsp;&nbsp; 470358 |
| Total Play Telecomunicaciones SA de CV |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;11.125%, due 12/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197269 |
| Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 10/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339908 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007535 |
| **Water 0.1%** | **Water 0.1%** | **Water 0.1%** |
| Aegea Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;9.00%, due 1/20/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222612 |
| Total Corporate Bonds<br> (Cost $66,076,767) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64213822 |
| **Foreign Government Bonds 0.6%** | **Foreign Government Bonds 0.6%** | **Foreign Government Bonds 0.6%** |
| **Argentina 0.1%** | **Argentina 0.1%** | **Argentina 0.1%** |
| Argentina Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 7/9/35 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415600 |
| **Chile 0.1%** | **Chile 0.1%** | **Chile 0.1%** |
| Empresa Nacional del Petroleo |  |  |
| &nbsp;&nbsp;&nbsp;3.45%, due 9/16/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294384 |
| **Colombia 0.1%** | **Colombia 0.1%** | **Colombia 0.1%** |
| Colombia Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612987 |
| **Dominican Republic 0.1%** | **Dominican Republic 0.1%** | **Dominican Republic 0.1%** |
| Dominican Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 9/23/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591666 |
| **Egypt 0.1%** | **Egypt 0.1%** | **Egypt 0.1%** |
| Egypt Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, due 5/29/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510655 |
| **Paraguay 0.1%** | **Paraguay 0.1%** | **Paraguay 0.1%** |
| Paraguay Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;6.10%, due 8/11/44 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700488 |
| Total Foreign Government Bonds<br> (Cost $3,038,331) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125780 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments 0.4%** | **Loan Assignments 0.4%** | **Loan Assignments 0.4%** |
| **Diversified/Conglomerate Service 0.1%** | **Diversified/Conglomerate Service 0.1%** | **Diversified/Conglomerate Service 0.1%** |
| TruGreen LP |  |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;8.263% (1 Month SOFR + 4.00%), due 11/2/27 (b) | &nbsp;&nbsp;&nbsp;$306488 | &nbsp;&nbsp;$298954 |
| **Finance 0.1%** | **Finance 0.1%** | **Finance 0.1%** |
| Arches Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;7.513% (1 Month SOFR + 3.25%), due 12/6/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 396875 | &nbsp;&nbsp;&nbsp;&nbsp; 397206 |
| **Media 0.2%** | **Media 0.2%** | **Media 0.2%** |
| DIRECTV Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B |  |  |
| &nbsp;&nbsp;&nbsp;9.82% (3 Month SOFR + 5.25%), due 8/2/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481896 |
| Virgin Media Bristol LLC |  |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Advance Term Loan Q |  |  |
| &nbsp;&nbsp;&nbsp;7.515% (1 Month SOFR + 3.25%), due 1/31/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709274 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191170 |
| **Services Business 0.0% ‡** | **Services Business 0.0% ‡** | **Services Business 0.0% ‡** |
| Beach Acquisition Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 |  |  |
| &nbsp;&nbsp;&nbsp;7.308% (3 Month SOFR + 3.25%), due 9/13/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200833 |
| Total Loan Assignments<br> (Cost $2,069,173) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088163 |
| **Mortgage-Backed Securities 12.4%** | **Mortgage-Backed Securities 12.4%** | **Mortgage-Backed Securities 12.4%** |
| **Agency (Collateralized Mortgage Obligations) 4.5%** | **Agency (Collateralized Mortgage Obligations) 4.5%** | **Agency (Collateralized Mortgage Obligations) 4.5%** |
| FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5326, Class QO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 9/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486097 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5021, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.55%), due 10/25/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32213 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5200, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.50%), due 2/25/52 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4215 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5351, Class DO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 9/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295359 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5351, Class EO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 10/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597970 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5315, Class OQ |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 1/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257888 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5514, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;0.744% (SOFR 30A + 5.10%), due 3/25/55 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55992 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5092, Class XA |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 1/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304075 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5531, Class SD |  |  |
| &nbsp;&nbsp;&nbsp;1.544% (SOFR 30A + 5.90%), due 4/25/55 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1762806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111999 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4993, Class KS |  |  |
| &nbsp;&nbsp;&nbsp;1.579% (SOFR 30A + 5.936%), due 7/25/50 (b)(h) | &nbsp;&nbsp;&nbsp;$1358831 | &nbsp;&nbsp;$186940 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4994, Class TS |  |  |
| &nbsp;&nbsp;&nbsp;1.629% (SOFR 30A + 5.986%), due 7/25/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 685406 | &nbsp;&nbsp;&nbsp;&nbsp; 94089 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4831, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;1.713% (SOFR 30A + 6.086%), due 10/15/48 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 607354 | &nbsp;&nbsp;&nbsp;&nbsp; 80128 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5547, Class ES |  |  |
| &nbsp;&nbsp;&nbsp;2.644% (SOFR 30A + 7.00%), due 6/25/55 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68885 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5070, Class PI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 8/25/50 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135328 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5011, Class MI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 9/25/50 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109058 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5023, Class LI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/25/50 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77585 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5094, Class IP |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/25/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88528 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5160 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/25/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59530 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4725, Class WZ |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878561 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5040 |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 11/25/50 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74746 |
| FHLMC, Strips |  |  |
| &nbsp;&nbsp;&nbsp;Series 272 |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346635 |
| &nbsp;&nbsp;&nbsp;Series 402 |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 9/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342798 |
| &nbsp;&nbsp;&nbsp;Series 311, Class S1 |  |  |
| &nbsp;&nbsp;&nbsp;1.463% (SOFR 30A + 5.836%), due 8/15/43 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142054 |
| &nbsp;&nbsp;&nbsp;Series 397, Class C61 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 1/25/53 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141898 |
| FNMA |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-70, Class AO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 3/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279575 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-24, Class OQ |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 7/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398930 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-44, Class SD |  |  |
| &nbsp;&nbsp;&nbsp;0.744% (SOFR 30A + 5.10%), due 6/25/55 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2267298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84869 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-82, Class DS |  |  |
| &nbsp;&nbsp;&nbsp;0.794% (SOFR 30A + 5.15%), due 11/25/54 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76311 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-10, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;1.394% (SOFR 30A + 5.75%), due 2/25/52 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90939 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2016-57, Class SN |  |  |
| &nbsp;&nbsp;&nbsp;1.579% (SOFR 30A + 5.936%), due 6/25/46 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74410 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-70, Class SD |  |  |
| &nbsp;&nbsp;&nbsp;1.779% (SOFR 30A + 6.136%), due 10/25/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132131 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| FNMA |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-57, Class LJ |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 8/25/50 | &nbsp;&nbsp;&nbsp;$850000 | &nbsp;&nbsp;$633198 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-3, Class TI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 2/25/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1295037 | &nbsp;&nbsp;&nbsp;&nbsp; 219979 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-12, Class JI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/25/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 493899 | &nbsp;&nbsp;&nbsp;&nbsp; 78839 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-34, Class MI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/25/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196194 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-54, Class HI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 6/25/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25479 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-18, Class SM |  |  |
| &nbsp;&nbsp;&nbsp;2.744% (SOFR 30A + 7.10%), due 9/25/54 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57039 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-53, Class GI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/25/48 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336391 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-85, Class BI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/25/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247314 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-8, Class ID |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/25/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190277 |
| FNMA, Strips (h) |  |  |
| &nbsp;&nbsp;&nbsp;Series 426, Class C32 |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, due 2/25/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2053463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196325 |
| &nbsp;&nbsp;&nbsp;Series 429, Class C5 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/25/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339378 |
| &nbsp;&nbsp;&nbsp;Series 440, Class C46 |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 10/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1718829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367156 |
| &nbsp;&nbsp;&nbsp;Series 438, Class C34 |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 8/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221837 |
| GNMA |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-1, Class YS |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (1 Month SOFR + 2.716%), due 1/20/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15366 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-16, Class AS |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (1 Month SOFR + 2.636%), due 1/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2089163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21055 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-101, Class KO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 1/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386121 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-29, Class AS |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 2.70%), due 2/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21604 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-97, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 2.60%), due 6/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28847 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-136, Class SB |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.20%), due 8/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92271 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-158, Class SB |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.70%), due 9/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49531 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-205, Class DS |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.20%), due 11/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2747393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49972 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-226, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 1.70%), due 12/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3896 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| GNMA |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-78, Class S |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.70%), due 4/20/52 (b)(h) | &nbsp;&nbsp;&nbsp;$1100209 | &nbsp;&nbsp;$19817 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-87, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.30%), due 5/20/52 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2127634 | &nbsp;&nbsp;&nbsp;&nbsp; 32691 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-107, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.47%), due 6/20/52 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5373087 | &nbsp;&nbsp;&nbsp;&nbsp; 60080 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-101, Class SB |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.30%), due 6/20/52 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16380 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-66, Class OQ |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 7/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514701 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-53 |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 4/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172671 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-114, Class MO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 8/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167112 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-51, Class SX |  |  |
| &nbsp;&nbsp;&nbsp;0.811% (SOFR 30A + 5.20%), due 3/20/54 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4843716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208766 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-80, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;0.861% (SOFR 30A + 5.25%), due 6/20/53 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2107088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97909 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-115, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;1.80% (1 Month SOFR + 5.936%), due 9/20/49 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119543 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-34, Class SC |  |  |
| &nbsp;&nbsp;&nbsp;1.80% (1 Month SOFR + 5.936%), due 3/20/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113098 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-47, Class KS |  |  |
| &nbsp;&nbsp;&nbsp;1.85% (1 Month SOFR + 5.986%), due 4/20/48 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308838 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-166, Class IC |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 11/20/50 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36727 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-188 |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 12/20/50 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150228 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-30, Class HI |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 2/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1838947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206141 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-10, Class IC |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 11/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112819 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-2, Class WZ |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 8/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564377 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-146, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 10/20/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121288 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-175, Class CS |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 11/20/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120690 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-179, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 11/20/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182441 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-167, Class SN |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 11/20/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63076 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-189, Class SU |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 12/20/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85036 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-46, Class QS |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67844 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| GNMA |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-57, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;$1879848 | &nbsp;&nbsp;$259500 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-57, Class SD |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3178060 | &nbsp;&nbsp;&nbsp;&nbsp; 449992 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-46, Class TS |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 3/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 604278 | &nbsp;&nbsp;&nbsp;&nbsp; 83162 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-96, Class SN |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 6/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138302 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-122, Class HS |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 7/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153633 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-135, Class GS |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 8/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1673741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241055 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-96, Class JS |  |  |
| &nbsp;&nbsp;&nbsp;2.10% (1 Month SOFR + 6.236%), due 6/20/51 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128431 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-86, Class SE |  |  |
| &nbsp;&nbsp;&nbsp;2.261% (SOFR 30A + 6.65%), due 9/20/50 (b)(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115286 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-60, Class ES |  |  |
| &nbsp;&nbsp;&nbsp;2.422% (SOFR 30A + 11.20%), due 4/20/53 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401547 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-188, Class DI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 12/20/50 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265595 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-1, Class PI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 12/20/50 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78297 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-83, Class FM |  |  |
| &nbsp;&nbsp;&nbsp;2.50% (SOFR 30A + 0.51%), due 5/20/51 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703924 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-188 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255783 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-1, Class IT |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 1/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196002 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-44, Class IQ |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 3/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204329 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-74, Class HI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23224 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-67, Class PI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117452 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-98, Class IN |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97861 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-48, Class JI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180364 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-207 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 8/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119313 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-139, Class IA |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 8/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325022 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-177, Class IM |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217961 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-97, Class FG |  |  |
| &nbsp;&nbsp;&nbsp;3.50% (1 Month SOFR + 0.804%), due 8/20/49 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537491 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| GNMA |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-128, Class KF |  |  |
| &nbsp;&nbsp;&nbsp;3.50% (1 Month SOFR + 0.764%), due 10/20/49 (b) | &nbsp;&nbsp;&nbsp;$236326 | &nbsp;&nbsp;$213527 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-128, Class YF |  |  |
| &nbsp;&nbsp;&nbsp;3.50% (1 Month SOFR + 0.764%), due 10/20/49 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244488 | &nbsp;&nbsp;&nbsp;&nbsp; 219665 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-5, Class FA |  |  |
| &nbsp;&nbsp;&nbsp;3.50% (1 Month SOFR + 0.814%), due 1/20/50 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648226 | &nbsp;&nbsp;&nbsp;&nbsp; 585275 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-146, Class IN |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 8/20/51 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269505 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-1, Class HD |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 1/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326546 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-66, Class MP |  |  |
| &nbsp;&nbsp;&nbsp;3.522% (SOFR 30A + 12.30%), due 5/20/53 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536560 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2016-93, Class AI |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/20/44 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193326 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-38, Class WT |  |  |
| &nbsp;&nbsp;&nbsp;6.502%, due 12/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278647 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-59, Class YC |  |  |
| &nbsp;&nbsp;&nbsp;7.106%, due 9/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641053 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-55, Class CG |  |  |
| &nbsp;&nbsp;&nbsp;7.674%, due 7/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496928 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-55, Class LB |  |  |
| &nbsp;&nbsp;&nbsp;7.791%, due 11/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485578 |
| Multifamily Connecticut Avenue Securities Trust (a)(b) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-01, Class B10 |  |  |
| &nbsp;&nbsp;&nbsp;9.971% (SOFR 30A + 5.614%), due 10/25/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552801 |
| &nbsp;&nbsp;&nbsp;Series 2020-01, Class CE |  |  |
| &nbsp;&nbsp;&nbsp;11.971% (SOFR 30A + 7.614%), due 3/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744918 |
| Seasoned Credit Risk Transfer Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class MTU |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 11/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973430 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25241363 |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 3.9%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 3.9%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 3.9%** |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-BN12, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/15/61 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526573 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN19, Class C |  |  |
| &nbsp;&nbsp;&nbsp;4.16%, due 8/15/61 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498019 |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK4, Class C |  |  |
| &nbsp;&nbsp;&nbsp;4.372%, due 5/15/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460092 |
| Bank of America Merrill Lynch Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-UB10, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/15/49 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656699 |
| Benchmark Mortgage Trust (j) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B6, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.239%, due 10/10/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315202 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| Benchmark Mortgage Trust (j) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-B14, Class C |  |  |
| &nbsp;&nbsp;&nbsp;3.903%, due 12/15/62 | &nbsp;&nbsp;&nbsp;$695000 | &nbsp;&nbsp;$483873 |
| &nbsp;&nbsp;&nbsp;Series 2018-B1, Class C |  |  |
| &nbsp;&nbsp;&nbsp;4.343%, due 1/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 455647 |
| BF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-NYT, Class F |  |  |
| &nbsp;&nbsp;&nbsp;7.448% (1 Month SOFR + 3.297%), due 12/15/35 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 685000 | &nbsp;&nbsp;&nbsp;&nbsp; 602453 |
| BFLD Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-5MW, Class C |  |  |
| &nbsp;&nbsp;&nbsp;5.451%, due 10/10/42 (a)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549195 |
| BMO Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-C1, Class 111A |  |  |
| &nbsp;&nbsp;&nbsp;3.378%, due 2/17/55 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566051 |
| &nbsp;&nbsp;&nbsp;Series 2024-C9, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;5.759%, due 7/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617152 |
| BSST Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1700, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.451% (1 Month SOFR + 1.30%), due 2/15/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576878 |
| BWAY Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-1515, Class G |  |  |
| &nbsp;&nbsp;&nbsp;4.058%, due 3/10/33 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419029 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-BRBK, Class D |  |  |
| &nbsp;&nbsp;&nbsp;10.117% (1 Month SOFR + 5.971%), due 10/15/41 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585724 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-VLT7, Class E |  |  |
| &nbsp;&nbsp;&nbsp;7.90% (1 Month SOFR + 3.75%), due 7/15/44 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592575 |
| CFCRE Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-C3, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.052%, due 1/10/48 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444208 |
| CFK Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-MF2, Class E |  |  |
| &nbsp;&nbsp;&nbsp;3.573%, due 3/15/39 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486492 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B2, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.30%, due 3/10/51 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696396 |
| Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-CR20, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.222%, due 11/10/47 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299300 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR17, Class C |  |  |
| &nbsp;&nbsp;&nbsp;4.942%, due 5/10/47 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625600 |
| CONE Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-DFW1, Class E |  |  |
| &nbsp;&nbsp;&nbsp;8.039% (1 Month SOFR + 3.888%), due 8/15/41 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274842 |
| CSMC OA LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-USA, Class E |  |  |
| &nbsp;&nbsp;&nbsp;4.373%, due 9/15/37 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371112 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| FHLMC MSCR Trust (a)(b) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-MN3, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;6.656% (SOFR 30A + 2.30%), due 11/25/51 | &nbsp;&nbsp;&nbsp;$265933 | &nbsp;&nbsp;$266392 |
| &nbsp;&nbsp;&nbsp;Series 2025-MN10, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;7.205% (SOFR 30A + 2.85%), due 2/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 658590 |
| GNMA (h) |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-112 |  |  |
| &nbsp;&nbsp;&nbsp;0.564%, due 3/16/66 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3029386 | &nbsp;&nbsp;&nbsp;&nbsp; 154074 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-194, Class CI |  |  |
| &nbsp;&nbsp;&nbsp;0.817%, due 10/16/65 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2147592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136031 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-159, Class CI |  |  |
| &nbsp;&nbsp;&nbsp;0.954%, due 7/16/65 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2931233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210439 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-168, Class IA |  |  |
| &nbsp;&nbsp;&nbsp;0.974%, due 12/16/62 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99862 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-47 |  |  |
| &nbsp;&nbsp;&nbsp;0.992%, due 3/16/61 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3243849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217795 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-185, Class DI |  |  |
| &nbsp;&nbsp;&nbsp;1.022%, due 10/16/65 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87672 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-172 |  |  |
| &nbsp;&nbsp;&nbsp;1.33%, due 2/16/66 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185766 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-GS10, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/10/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453156 |
| &nbsp;&nbsp;&nbsp;Series 2015-GC30, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.384%, due 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532950 |
| &nbsp;&nbsp;&nbsp;Series 2015-GC30, Class B |  |  |
| &nbsp;&nbsp;&nbsp;4.113%, due 5/10/50 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust (a) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-WLDN, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.905%, due 5/5/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478197 |
| &nbsp;&nbsp;&nbsp;Series 2022-NLP, Class G |  |  |
| &nbsp;&nbsp;&nbsp;8.675% (1 Month SOFR + 4.525%), due 4/15/37 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572719 |
| JPMDB Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-C7, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/15/50 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424833 |
| Morgan Stanley Bank of America Merrill Lynch Trust (a)(j) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-C22, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.113%, due 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468000 |
| &nbsp;&nbsp;&nbsp;Series 2015-C23, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.297%, due 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213422 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-H3, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/15/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466026 |
| Natixis Commercial Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2PAC, Class AMZ1 |  |  |
| &nbsp;&nbsp;&nbsp;3.617%, due 1/15/37 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629132 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| ROCK Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class E |  |  |
| &nbsp;&nbsp;&nbsp;8.819%, due 11/13/41 (a) | &nbsp;&nbsp;&nbsp;$1085000 | &nbsp;&nbsp;$1135556 |
| UBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C10, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/15/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 310648 |
| &nbsp;&nbsp;&nbsp;Series 2019-C16, Class AS |  |  |
| &nbsp;&nbsp;&nbsp;3.887%, due 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 246639 |
| &nbsp;&nbsp;&nbsp;Series 2018-C9, Class C |  |  |
| &nbsp;&nbsp;&nbsp;5.109%, due 3/15/51 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429275 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C43, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 3/15/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110109 |
| &nbsp;&nbsp;&nbsp;Series 2017-C39, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.503%, due 9/15/50 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245566 |
| &nbsp;&nbsp;&nbsp;Series 2022-ONL, Class E |  |  |
| &nbsp;&nbsp;&nbsp;5.092%, due 12/15/39 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479158 |
| &nbsp;&nbsp;&nbsp;Series 2016-NXS5, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.118%, due 1/15/59 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234110 |
| WP Glimcher Mall Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-WPG, Class C |  |  |
| &nbsp;&nbsp;&nbsp;3.633%, due 6/5/35 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546054 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21380283 |
| **Whole Loan (Collateralized Mortgage Obligations) 4.0%** | **Whole Loan (Collateralized Mortgage Obligations) 4.0%** | **Whole Loan (Collateralized Mortgage Obligations) 4.0%** |
| Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.42%, due 3/25/70 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382208 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-NQM8, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, due 8/1/53 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263247 |
| CIM Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-J2, Class AS |  |  |
| &nbsp;&nbsp;&nbsp;0.21%, due 4/25/51 (a)(h)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16442621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201174 |
| Citigroup Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-C, Class B3 |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 2/25/54 (a)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735896 |
| Connecticut Avenue Securities Trust (a)(b) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-R01, Class 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.048% (SOFR 30A + 1.70%), due 1/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233973 |
| &nbsp;&nbsp;&nbsp;Series 2025-R02, Class 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.298% (SOFR 30A + 1.95%), due 2/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190237 |
| &nbsp;&nbsp;&nbsp;Series 2023-R07, Class 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;7.598% (SOFR 30A + 3.25%), due 9/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920201 |
| &nbsp;&nbsp;&nbsp;Series 2023-R03, Class 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;8.256% (SOFR 30A + 3.90%), due 4/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750808 |
| &nbsp;&nbsp;&nbsp;Series 2021-R03, Class 1B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.856% (SOFR 30A + 5.50%), due 12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263986 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| Connecticut Avenue Securities Trust (a)(b) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-R01, Class 1B2 |  |  |
| &nbsp;&nbsp;&nbsp;10.356% (SOFR 30A + 6.00%), due 12/25/41 | &nbsp;&nbsp;&nbsp;$690000 | &nbsp;&nbsp;$720598 |
| &nbsp;&nbsp;&nbsp;Series 2020-SBT1, Class 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;11.221% (SOFR 30A + 6.864%), due 2/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 698003 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2B2 |  |  |
| &nbsp;&nbsp;&nbsp;12.006% (SOFR 30A + 7.65%), due 1/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570000 | &nbsp;&nbsp;&nbsp;&nbsp; 603074 |
| &nbsp;&nbsp;&nbsp;Series 2019-HRP1, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;13.721% (SOFR 30A + 9.364%), due 11/25/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055040 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1B2 |  |  |
| &nbsp;&nbsp;&nbsp;14.206% (SOFR 30A + 9.85%), due 3/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298976 |
| FHLMC STACR REMIC Trust (a)(b) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-HQA1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.571% (SOFR 30A + 5.214%), due 1/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762533 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;9.606% (SOFR 30A + 5.25%), due 3/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205465 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA3, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;9.706% (SOFR 30A + 5.35%), due 8/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944496 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA3, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;10.606% (SOFR 30A + 6.25%), due 9/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910177 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA4, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;11.356% (SOFR 30A + 7.00%), due 12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726154 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;11.356% (SOFR 30A + 7.00%), due 3/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720800 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;11.456% (SOFR 30A + 7.10%), due 1/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880117 |
| FHLMC STACR Securitized Participation Interests Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-SPI3, Class B |  |  |
| &nbsp;&nbsp;&nbsp;4.156%, due 8/25/48 (a)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646212 |
| FHLMC STACR Trust (a)(b) |  |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-FTR3, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.271% (SOFR 30A + 4.914%), due 9/25/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753375 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-FTR2, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;11.871% (SOFR 30A + 7.514%), due 11/25/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441915 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-FTR1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;12.821% (SOFR 30A + 8.464%), due 1/25/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678476 |
| Flagstar Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-6INV, Class A18 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 8/25/51 (a)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295836 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-PJ6, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/25/51 (a)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763959 |
| J.P. Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;2.879%, due 8/25/51 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044478 |
| LOANDEPOT GMSR Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-GT2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;7.51% (1 Month SOFR + 3.15%), due 7/16/30 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677190 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| Mill City Mortgage Loan Trust (a)(i) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-4, Class B4 |  |  |
| &nbsp;&nbsp;&nbsp;3.095%, due 4/25/66 | &nbsp;&nbsp;&nbsp;$559347 | &nbsp;&nbsp;$351716 |
| &nbsp;&nbsp;&nbsp;Series 2018-3, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 8/25/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 918043 | &nbsp;&nbsp;&nbsp;&nbsp; 709080 |
| &nbsp;&nbsp;&nbsp;Series 2018-3, Class B4 |  |  |
| &nbsp;&nbsp;&nbsp;3.653%, due 8/25/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349255 | &nbsp;&nbsp;&nbsp;&nbsp; 229098 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025-J3, Class AF |  |  |
| &nbsp;&nbsp;&nbsp;5.808% (SOFR 30A + 1.50%), due 10/25/55 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700001 |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/25/51 (a)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931436 |
| STACR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-HRP1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;16.221% (SOFR 30A + 11.864%), due 5/25/43 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164077 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-4, Class B5 |  |  |
| &nbsp;&nbsp;&nbsp;3.606%, due 6/25/57 (a)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307539 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22161551 |
| Total Mortgage-Backed Securities<br> (Cost $67,377,280) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68783197 |
| **U.S. Government & Federal Agencies 7.7%** | **U.S. Government & Federal Agencies 7.7%** | **U.S. Government & Federal Agencies 7.7%** |
| **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 1.2%** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 1.2%** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 1.2%** |
| FHLMC Gold Pools, 30 Year |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473812 |
| &nbsp;&nbsp;&nbsp;3.50%, due 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403018 |
| UMBS Pool, 30 Year |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071412 |
| &nbsp;&nbsp;&nbsp;3.50%, due 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390220 |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015927 |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165469 |
| &nbsp;&nbsp;&nbsp;4.50%, due 12/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741698 |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418789 |
| &nbsp;&nbsp;&nbsp;5.00%, due 3/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354497 |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254462 |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571954 |
| &nbsp;&nbsp;&nbsp;6.00%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328013 |
| &nbsp;&nbsp;&nbsp;6.00%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481799 |
| &nbsp;&nbsp;&nbsp;6.00%, due 11/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42127 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6713197 |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities) 2.5%** | **Federal National Mortgage Association (Mortgage Pass-Through Securities) 2.5%** | **Federal National Mortgage Association (Mortgage Pass-Through Securities) 2.5%** |
| FNMA, Other |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 4/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3009 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** |
| UMBS, 30 Year |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 10/1/50 | &nbsp;&nbsp;&nbsp;$2149096 | &nbsp;&nbsp;$1743791 |
| &nbsp;&nbsp;&nbsp;2.00%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1430699 | &nbsp;&nbsp;&nbsp;&nbsp; 1159329 |
| &nbsp;&nbsp;&nbsp;2.00%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 618424 | &nbsp;&nbsp;&nbsp;&nbsp; 500038 |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2412228 | &nbsp;&nbsp;&nbsp;&nbsp; 2049728 |
| &nbsp;&nbsp;&nbsp;2.50%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007170 | &nbsp;&nbsp;&nbsp;&nbsp; 852700 |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187946 | &nbsp;&nbsp;&nbsp;&nbsp; 180492 |
| &nbsp;&nbsp;&nbsp;4.00%, due 2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76681 | &nbsp;&nbsp;&nbsp;&nbsp; 72952 |
| &nbsp;&nbsp;&nbsp;4.00%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268479 |
| &nbsp;&nbsp;&nbsp;4.00%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466149 |
| &nbsp;&nbsp;&nbsp;4.00%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421768 |
| &nbsp;&nbsp;&nbsp;4.50%, due 1/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636347 |
| &nbsp;&nbsp;&nbsp;5.00%, due 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1909150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906030 |
| &nbsp;&nbsp;&nbsp;5.50%, due 2/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156981 |
| &nbsp;&nbsp;&nbsp;5.50%, due 8/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459594 |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594627 |
| &nbsp;&nbsp;&nbsp;5.50%, due 5/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496015 |
| &nbsp;&nbsp;&nbsp;6.00%, due 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443021 |
| &nbsp;&nbsp;&nbsp;6.00%, due 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739405 |
| &nbsp;&nbsp;&nbsp;6.00%, due 11/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45746 |
| &nbsp;&nbsp;&nbsp;6.00%, due 9/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14148857 |
| **Government National Mortgage Association (Mortgage Pass-Through Security) 0.4%** | **Government National Mortgage Association (Mortgage Pass-Through Security) 0.4%** | **Government National Mortgage Association (Mortgage Pass-Through Security) 0.4%** |
| GNMA II, Single Family, 30 Year |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013768 |
| **United States Treasury Bonds 1.4%** | **United States Treasury Bonds 1.4%** | **United States Treasury Bonds 1.4%** |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 8/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856359 |
| &nbsp;&nbsp;&nbsp;4.875%, due 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5873365 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7729724 |
| **United States Treasury Notes 2.2%** | **United States Treasury Notes 2.2%** | **United States Treasury Notes 2.2%** |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074389 |
| &nbsp;&nbsp;&nbsp;3.875%, due 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161037 |
| &nbsp;&nbsp;&nbsp;3.875%, due 7/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4905000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4934507 |
| &nbsp;&nbsp;&nbsp;4.00%, due 7/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2350969 |
| &nbsp;&nbsp;&nbsp;4.25%, due 8/15/35 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3624209 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12145111 |
| Total U.S. Government & Federal Agencies<br> (Cost $42,409,741) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42750657 |
| Total Long-Term Bonds<br> (Cost $204,087,281) |  | &nbsp;&nbsp;&nbsp;&nbsp;203966103 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 59.8%** | **Common Stocks 59.8%** | **Common Stocks 59.8%** |
| **Aerospace & Defense 1.9%** | **Aerospace & Defense 1.9%** | **Aerospace & Defense 1.9%** |
| BAE Systems plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 101567 | &nbsp;&nbsp;$2814406 |
| General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 5856 | &nbsp;&nbsp;&nbsp;&nbsp; 1996896 |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4843 | &nbsp;&nbsp;&nbsp;&nbsp; 2417674 |
| RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 18817 | &nbsp;&nbsp;&nbsp;&nbsp; 3148649 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10377625 |
| **Air Freight & Logistics 0.7%** | **Air Freight & Logistics 0.7%** | **Air Freight & Logistics 0.7%** |
| Deutsche Post AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 50067 | &nbsp;&nbsp;&nbsp;&nbsp; 2232990 |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 20402 | &nbsp;&nbsp;&nbsp;&nbsp; 1704179 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3937169 |
| **Automobile Components 0.7%** | **Automobile Components 0.7%** | **Automobile Components 0.7%** |
| Cie Generale des Etablissements Michelin SCA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 47905 | &nbsp;&nbsp;&nbsp;&nbsp; 1720714 |
| NHK Spring Co. Ltd. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 153700 | &nbsp;&nbsp;&nbsp;&nbsp; 2308791 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4029505 |
| **Automobiles 0.4%** | **Automobiles 0.4%** | **Automobiles 0.4%** |
| Toyota Motor Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp; 103100 | &nbsp;&nbsp;&nbsp;&nbsp; 1973092 |
| **Banks 4.2%** | **Banks 4.2%** | **Banks 4.2%** |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3974442 |
| BAWAG Group AG (Austria) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2498919 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904039 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4455764 |
| Lloyds Banking Group plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019682 |
| Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901699 |
| Royal Bank of Canada (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2348924 |
| Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807083 |
| U.S. Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2584447 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23494999 |
| **Beverages 1.5%** | **Beverages 1.5%** | **Beverages 1.5%** |
| Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497478 |
| Coca-Cola Europacific Partners plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3928224 |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996355 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8422057 |
| **Biotechnology 1.2%** | **Biotechnology 1.2%** | **Biotechnology 1.2%** |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6665110 |
| **Capital Markets 1.3%** | **Capital Markets 1.3%** | **Capital Markets 1.3%** |
| BlackRock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997136 |
| Lazard, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3552780 |
| Schroders plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736835 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7286751 |
| **Chemicals 1.4%** | **Chemicals 1.4%** | **Chemicals 1.4%** |
| Linde plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3098425 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784468 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Chemicals** | **Chemicals** | **Chemicals** |
| Nutrien Ltd. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 45865 | &nbsp;&nbsp;$2692734 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7575627 |
| **Commercial Services & Supplies 0.0% ‡** | **Commercial Services & Supplies 0.0% ‡** | **Commercial Services & Supplies 0.0% ‡** |
| Quad/Graphics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 38 |
| **Communications Equipment 1.2%** | **Communications Equipment 1.2%** | **Communications Equipment 1.2%** |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 93054 | &nbsp;&nbsp;&nbsp;&nbsp; 6366755 |
| **Construction & Engineering 0.4%** | **Construction & Engineering 0.4%** | **Construction & Engineering 0.4%** |
| Vinci SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 15301 | &nbsp;&nbsp;&nbsp;&nbsp; 2130490 |
| **Consumer Staples Distribution & Retail 0.7%** | **Consumer Staples Distribution & Retail 0.7%** | **Consumer Staples Distribution & Retail 0.7%** |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 35524 | &nbsp;&nbsp;&nbsp;&nbsp; 3661103 |
| **Diversified Telecommunication Services 2.7%** | **Diversified Telecommunication Services 2.7%** | **Diversified Telecommunication Services 2.7%** |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 135637 | &nbsp;&nbsp;&nbsp;&nbsp; 3830389 |
| Deutsche Telekom AG (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 110714 | &nbsp;&nbsp;&nbsp;&nbsp; 3772085 |
| Infrastrutture Wireless Italiane SpA (Italy) | &nbsp;&nbsp;&nbsp;&nbsp; 172605 | &nbsp;&nbsp;&nbsp;&nbsp; 2028378 |
| Orange SA (France) | &nbsp;&nbsp;&nbsp;&nbsp; 182033 | &nbsp;&nbsp;&nbsp;&nbsp; 2953089 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 58705 | &nbsp;&nbsp;&nbsp;&nbsp; 2580085 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15164026 |
| **Electric Utilities 2.8%** | **Electric Utilities 2.8%** | **Electric Utilities 2.8%** |
| American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3277125 |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1961932 |
| Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3791156 |
| NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3226745 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691615 |
| Terna - Rete Elettrica Nazionale (Italy) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1674820 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15623393 |
| **Electrical Equipment 0.9%** | **Electrical Equipment 0.9%** | **Electrical Equipment 0.9%** |
| Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367131 |
| Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2441916 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4809047 |
| **Food Products 1.2%** | **Food Products 1.2%** | **Food Products 1.2%** |
| McCormick & Co., Inc. (Non-Voting) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2361120 |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2788723 |
| Nestle SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722341 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6872184 |
| **Gas Utilities 0.4%** | **Gas Utilities 0.4%** | **Gas Utilities 0.4%** |
| Snam SpA (Italy) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369205 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Equipment & Supplies 0.6%** | **Health Care Equipment & Supplies 0.6%** | **Health Care Equipment & Supplies 0.6%** |
| Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp; 35333 | &nbsp;&nbsp;$3365115 |
| **Health Care Providers & Services 0.9%** | **Health Care Providers & Services 0.9%** | **Health Care Providers & Services 0.9%** |
| CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 66078 | &nbsp;&nbsp;&nbsp;&nbsp; 4981620 |
| **Hotels, Restaurants & Leisure 1.4%** | **Hotels, Restaurants & Leisure 1.4%** | **Hotels, Restaurants & Leisure 1.4%** |
| McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9659 | &nbsp;&nbsp;&nbsp;&nbsp; 2935274 |
| Restaurant Brands International, Inc. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 49403 | &nbsp;&nbsp;&nbsp;&nbsp; 3168708 |
| Vail Resorts, Inc. (f) | &nbsp;&nbsp;&nbsp;&nbsp; 10853 | &nbsp;&nbsp;&nbsp;&nbsp; 1623283 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7727265 |
| **Industrial Conglomerates 0.8%** | **Industrial Conglomerates 0.8%** | **Industrial Conglomerates 0.8%** |
| Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7819 | &nbsp;&nbsp;&nbsp;&nbsp; 1645900 |
| Siemens AG (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 10701 | &nbsp;&nbsp;&nbsp;&nbsp; 2887322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4533222 |
| **Industrial REITs 0.3%** | **Industrial REITs 0.3%** | **Industrial REITs 0.3%** |
| Segro plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 199470 | &nbsp;&nbsp;&nbsp;&nbsp; 1765038 |
| **Insurance 3.3%** | **Insurance 3.3%** | **Insurance 3.3%** |
| AIA Group Ltd. (Hong Kong) | &nbsp;&nbsp;&nbsp;&nbsp; 293000 | &nbsp;&nbsp;&nbsp;&nbsp; 2808475 |
| Allianz SE (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2920538 |
| AXA SA (France) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2643550 |
| Manulife Financial Corp. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4171776 |
| MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4023198 |
| Muenchener Rueckversicherungs-Gesellschaft AG (Registered) (Germany) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1697705 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18265242 |
| **Interactive Media & Services 0.9%** | **Interactive Media & Services 0.9%** | **Interactive Media & Services 0.9%** |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325903 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2775956 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5101859 |
| **IT Services 1.2%** | **IT Services 1.2%** | **IT Services 1.2%** |
| International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6430426 |
| **Leisure Products 0.6%** | **Leisure Products 0.6%** | **Leisure Products 0.6%** |
| Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543257 |
| **Machinery 1.1%** | **Machinery 1.1%** | **Machinery 1.1%** |
| Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3527212 |
| Toro Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2662961 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6190173 |
| **Media 0.3%** | **Media 0.3%** | **Media 0.3%** |
| Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939028 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Multi-Utilities 1.0%** | **Multi-Utilities 1.0%** | **Multi-Utilities 1.0%** |
| NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 66508 | &nbsp;&nbsp;$2879796 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21167 | &nbsp;&nbsp;&nbsp;&nbsp; 2425527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305323 |
| **Oil, Gas & Consumable Fuels 1.3%** | **Oil, Gas & Consumable Fuels 1.3%** | **Oil, Gas & Consumable Fuels 1.3%** |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11513 | &nbsp;&nbsp;&nbsp;&nbsp; 1787854 |
| Equinor ASA (Norway) | &nbsp;&nbsp;&nbsp;&nbsp; 68216 | &nbsp;&nbsp;&nbsp;&nbsp; 1668560 |
| MPLX LP | &nbsp;&nbsp;&nbsp;&nbsp; 36731 | &nbsp;&nbsp;&nbsp;&nbsp; 1834713 |
| TotalEnergies SE (France) | &nbsp;&nbsp;&nbsp;&nbsp; 29475 | &nbsp;&nbsp;&nbsp;&nbsp; 1798592 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7089719 |
| **Personal Care Products 0.4%** | **Personal Care Products 0.4%** | **Personal Care Products 0.4%** |
| Unilever plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 33551 | &nbsp;&nbsp;&nbsp;&nbsp; 1983272 |
| **Pharmaceuticals 5.0%** | **Pharmaceuticals 5.0%** | **Pharmaceuticals 5.0%** |
| Astellas Pharma, Inc. (Japan) (f) | &nbsp;&nbsp;&nbsp;&nbsp; 181900 | &nbsp;&nbsp;&nbsp;&nbsp; 1983825 |
| AstraZeneca plc, Sponsored ADR (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 41179 | &nbsp;&nbsp;&nbsp;&nbsp; 3159253 |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp; 38452 | &nbsp;&nbsp;&nbsp;&nbsp; 1734185 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 2917 | &nbsp;&nbsp;&nbsp;&nbsp; 2225671 |
| GSK plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2542502 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2744401 |
| Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1821449 |
| Novartis AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3859388 |
| Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847631 |
| Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890201 |
| Sanofi SA (France) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3609407 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27417913 |
| **Professional Services 0.4%** | **Professional Services 0.4%** | **Professional Services 0.4%** |
| Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120568 |
| **Retail REITs 0.3%** | **Retail REITs 0.3%** | **Retail REITs 0.3%** |
| Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875919 |
| **Semiconductors & Semiconductor Equipment 5.5%** | **Semiconductors & Semiconductor Equipment 5.5%** | **Semiconductors & Semiconductor Equipment 5.5%** |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4392379 |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7365900 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4373723 |
| Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3673898 |
| Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR (Taiwan) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6288494 |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4065394 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30159788 |
| **Software 1.5%** | **Software 1.5%** | **Software 1.5%** |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8046353 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Specialized REITs 1.0%** | **Specialized REITs 1.0%** | **Specialized REITs 1.0%** |
| Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 34313 | &nbsp;&nbsp;$3497867 |
| VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 59707 | &nbsp;&nbsp;&nbsp;&nbsp; 1947045 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5444912 |
| **Specialty Retail 0.9%** | **Specialty Retail 0.9%** | **Specialty Retail 0.9%** |
| Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26093 | &nbsp;&nbsp;&nbsp;&nbsp; 1973153 |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 7015 | &nbsp;&nbsp;&nbsp;&nbsp; 2842408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4815561 |
| **Technology Hardware, Storage & Peripherals 4.4%** | **Technology Hardware, Storage & Peripherals 4.4%** | **Technology Hardware, Storage & Peripherals 4.4%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15631 | &nbsp;&nbsp;&nbsp;&nbsp; 3980122 |
| Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 44157 | &nbsp;&nbsp;&nbsp;&nbsp; 6260138 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp; 254466 | &nbsp;&nbsp;&nbsp;&nbsp; 6249685 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 27725 | &nbsp;&nbsp;&nbsp;&nbsp; 3284303 |
| Samsung Electronics Co. Ltd., GDR (Republic of Korea) | &nbsp;&nbsp;&nbsp;&nbsp; 2988 | &nbsp;&nbsp;&nbsp;&nbsp; 4488508 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24262756 |
| **Tobacco 1.4%** | **Tobacco 1.4%** | **Tobacco 1.4%** |
| Imperial Brands plc (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp; 86292 | &nbsp;&nbsp;&nbsp;&nbsp; 3665660 |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4014612 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7680272 |
| **Trading Companies & Distributors 0.7%** | **Trading Companies & Distributors 0.7%** | **Trading Companies & Distributors 0.7%** |
| MSC Industrial Direct Co., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3646809 |
| **Water Utilities 0.3%** | **Water Utilities 0.3%** | **Water Utilities 0.3%** |
| Essential Utilities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932038 |
| **Wireless Telecommunication Services 0.7%** | **Wireless Telecommunication Services 0.7%** | **Wireless Telecommunication Services 0.7%** |
| Rogers Communications, Inc., Class B (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1821042 |
| SK Telecom Co. Ltd. (Republic of Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2098802 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3919844 |
| Total Common Stocks<br> (Cost $252,104,501) |  | &nbsp;&nbsp;&nbsp;&nbsp;330301468 |
| **Short-Term Investments 2.9%** | **Short-Term Investments 2.9%** | **Short-Term Investments 2.9%** |
| **Affiliated Investment Company 2.1%** | **Affiliated Investment Company 2.1%** | **Affiliated Investment Company 2.1%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (k) | &nbsp;&nbsp;&nbsp;&nbsp;11549434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11549434 |
| **Unaffiliated Investment Company 0.7%** | **Unaffiliated Investment Company 0.7%** | **Unaffiliated Investment Company 0.7%** |
| Invesco Government & Agency Portfolio, 4.131% (k)(l) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3840427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3840427 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Treasury Debt 0.1%** | **U.S. Treasury Debt 0.1%** | **U.S. Treasury Debt 0.1%** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;4.27%, due 10/2/25 (m) | &nbsp;&nbsp;&nbsp;$975000 | &nbsp;&nbsp;$974891 |
| Total Short-Term Investments<br> (Cost $16,364,746) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16364752 |
| Total Investments<br> (Cost $472,556,528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.6% | &nbsp;&nbsp;&nbsp;&nbsp;550632323 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020397 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$552652720 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (c) | Step coupon—Rate shown was the rate in effect as of September 30, 2025. |
| (d) | Fixed to floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (e) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (f) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $7,046,140; the total market value of collateral held by the Portfolio was $7,239,138. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $3,398,711. The Portfolio received cash collateral with a value of $3,840,427. |
| (g) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
| (h) | Collateralized Mortgage Obligation Interest Only Strip—Pays a fixed or variable rate of interest based on mortgage loans or mortgage pass-through securities. The principal amount of the underlying pool represents the notional amount on which the current interest was calculated. The value of these stripped securities may be particularly sensitive to changes in prevailing interest rates and are typically more sensitive to changes in prepayment rates than traditional mortgage-backed securities. |
| (i) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of September 30, 2025. |
| (j) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of September 30, 2025. |
| (k) | Current yield as of September 30, 2025. |
| (l) | Represents a security purchased with cash collateral received for securities on loan. |
| (m) | Interest rate shown represents yield to maturity. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$6744 | &nbsp;&nbsp;$96853 | &nbsp;&nbsp;$(92048) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11549 | &nbsp;&nbsp;$224 | &nbsp;&nbsp;$— | &nbsp;&nbsp;11549 |

---

------

#### Foreign Currency Forward Contracts
As of September 30, 2025, the Portfolio held the following foreign currency forward contracts<sup>1</sup>:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| AUD | &nbsp;&nbsp;9875000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6391092 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | $146415 |
| EUR | &nbsp;&nbsp;6157853 | &nbsp;&nbsp;USD | &nbsp;&nbsp;7112546 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; 132306 |
| JPY | &nbsp;&nbsp;175302000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1189036 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; 798 |
| USD | &nbsp;&nbsp;5364128 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;784628000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; 38589 |
| Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318108 |
| USD | &nbsp;&nbsp;8821855 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;7531000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; (38536) |
| USD | &nbsp;&nbsp;5944430 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;4470000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; (68323) |
| Total Unrealized Depreciation | Total Unrealized Depreciation | Total Unrealized Depreciation | Total Unrealized Depreciation | Total Unrealized Depreciation | Total Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106859) |
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;$211249 |

---

1. Foreign Currency Forward Contracts are subject to limitations such that they cannot be "sold or repurchased," although the Portfolio would be able to exit the transaction
through other means, such as through the execution of an offsetting transaction.

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts<sup>1</sup>:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>2</sup>** |
| **Long Contracts** |  |  |  |  |  |
| Euro STOXX 50 Index | &nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $5114959 | &nbsp;&nbsp; $5204329 | &nbsp;&nbsp;&nbsp;&nbsp; $89370 |
| Long Gilt | &nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 16055228 | &nbsp;&nbsp;&nbsp;&nbsp; 16126535 | &nbsp;&nbsp;&nbsp;&nbsp; 71307 |
| S&P 500 E-Mini Index | &nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 27579627 | &nbsp;&nbsp;&nbsp;&nbsp; 27965813 | &nbsp;&nbsp;&nbsp;&nbsp; 386186 |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 16039428 | &nbsp;&nbsp;&nbsp;&nbsp; 16051711 | &nbsp;&nbsp;&nbsp;&nbsp; 12283 |
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 7075521 | &nbsp;&nbsp;&nbsp;&nbsp; 7087500 | &nbsp;&nbsp;&nbsp;&nbsp; 11979 |
| U.S. Treasury 10 Year Ultra Bonds | &nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 3084601 | &nbsp;&nbsp;&nbsp;&nbsp; 3107109 | &nbsp;&nbsp;&nbsp;&nbsp; 22508 |
| U.S. Treasury Long Bonds | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 6276959 | &nbsp;&nbsp;&nbsp;&nbsp; 6412656 | &nbsp;&nbsp;&nbsp;&nbsp; 135697 |
| U.S. Treasury Ultra Bonds | &nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 9137224 | &nbsp;&nbsp;&nbsp;&nbsp; 9364875 | &nbsp;&nbsp;&nbsp;&nbsp; 227651 |
| Yen Denominated Nikkei 225 Index | &nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 13268522 | &nbsp;&nbsp;&nbsp;&nbsp; 13952260 | &nbsp;&nbsp;&nbsp;&nbsp; 683738 |
| Total Long Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1640719 |
| **Short Contracts** |  |  |  |  |  |
| Canada 5 Year Bonds | &nbsp;&nbsp;&nbsp;&nbsp;(61) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4994814) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5054624) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59810) |
| Euro-OAT | &nbsp;&nbsp;(138) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;(19432291) | &nbsp;&nbsp;&nbsp;&nbsp;(19660994) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(228703) |
| FTSE 100 Index | &nbsp;&nbsp;&nbsp;&nbsp;(71) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8919724) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8983024) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63300) |
| U.S. Treasury 2 Year Notes | &nbsp;&nbsp;&nbsp;&nbsp;(43) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8957600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8961133) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3533) |
| Total Short Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(355346) |
| Net Unrealized Appreciation |  |  |  |  | &nbsp;&nbsp;$1285373 |

---

1. As of September 30, 2025, cash in the amount of $5,623,263 was on deposit with a broker or futures commission merchant for futures transactions.

2. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| ADR—American Depositary Receipt |
| AUD—Australia Dollar |
| CLO—Collateralized Loan Obligation |
| EUR—Euro |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |

---

------

---

| |
|:---|
| FTSE—Financial Times Stock Exchange |
| GBP—British Pound Sterling |
| GDR—Global Depositary Receipt |
| GNMA—Government National Mortgage Association |
| JPY—Japanese Yen |
| OAT—Obligations assimilables du Trésor |
| REIT—Real Estate Investment Trust |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR—Secured Overnight Financing Rate |
| STACR—Structured Agency Credit Risk |
| UMBS—Uniform Mortgage Backed Securities |
| USD—United States Dollar |

---

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $23004484 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $23004484 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 64213822 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 64213822 |
| &nbsp;&nbsp;&nbsp;Foreign Government Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3125780 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3125780 |
| &nbsp;&nbsp;&nbsp;Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2088163 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2088163 |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 68783197 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 68783197 |
| &nbsp;&nbsp;&nbsp;U.S. Government & Federal Agencies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42750657 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 42750657 |
| Total Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;203966103 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203966103 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp; 7563219 | &nbsp;&nbsp;&nbsp;&nbsp; 2814406 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 10377625 |
| &nbsp;&nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp; 1704179 | &nbsp;&nbsp;&nbsp;&nbsp; 2232990 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3937169 |
| &nbsp;&nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4029505 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 4029505 |
| &nbsp;&nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1973092 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1973092 |
| &nbsp;&nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp; 18976398 | &nbsp;&nbsp;&nbsp;&nbsp; 4518601 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 23494999 |
| &nbsp;&nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp; 5549916 | &nbsp;&nbsp;&nbsp;&nbsp; 1736835 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 7286751 |
| &nbsp;&nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2130490 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2130490 |
| &nbsp;&nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp; 6410474 | &nbsp;&nbsp;&nbsp;&nbsp; 8753552 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 15164026 |
| &nbsp;&nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp; 13948573 | &nbsp;&nbsp;&nbsp;&nbsp; 1674820 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 15623393 |
| &nbsp;&nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp; 5149843 | &nbsp;&nbsp;&nbsp;&nbsp; 1722341 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 6872184 |
| &nbsp;&nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2369205 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2369205 |
| &nbsp;&nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp; 1645900 | &nbsp;&nbsp;&nbsp;&nbsp; 2887322 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 4533222 |
| &nbsp;&nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1765038 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1765038 |
| &nbsp;&nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp; 8194974 | &nbsp;&nbsp;&nbsp;&nbsp; 10070268 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 18265242 |
| &nbsp;&nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp; 3622567 | &nbsp;&nbsp;&nbsp;&nbsp; 3467152 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 7089719 |
| &nbsp;&nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1983272 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1983272 |
| &nbsp;&nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp; 13532590 | &nbsp;&nbsp;&nbsp;&nbsp; 13885323 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 27417913 |
| &nbsp;&nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp; 19774248 | &nbsp;&nbsp;&nbsp;&nbsp; 4488508 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 24262756 |
| &nbsp;&nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp; 4014612 | &nbsp;&nbsp;&nbsp;&nbsp; 3665660 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 7680272 |
| &nbsp;&nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp; 1821042 | &nbsp;&nbsp;&nbsp;&nbsp; 2098802 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3919844 |
| &nbsp;&nbsp;&nbsp;All Other Industries | &nbsp;&nbsp;&nbsp;&nbsp; 140125751 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 140125751 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252034286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78267182 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330301468 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 11549434 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 11549434 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 3840427 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3840427 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Debt | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 974891 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 974891 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15389861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974891 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16364752 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267424147 | &nbsp;&nbsp;&nbsp;&nbsp;283208176 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550632323 |
| Other Financial Instruments (b) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreign Currency Forward Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 318108 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 318108 |
| &nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 1640719 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1640719 |
| Total Other Financial Instruments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318108 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958827 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$269064866 | &nbsp;&nbsp;$283526284 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$552591150 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments (b) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreign Currency Forward Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(106859) | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(106859) |
| &nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; (355346) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; (355346) |
| Total Other Financial Instruments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(355346) | &nbsp;&nbsp;&nbsp;&nbsp;$(106859) | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(462205) |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP Hedge Multi-Strategy Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Exchange-Traded Funds 99.8%** | **Exchange-Traded Funds 99.8%** | **Exchange-Traded Funds 99.8%** |
| **Alternative 8.6%** | **Alternative 8.6%** | **Alternative 8.6%** |
| **Affiliated Investment Company 2.9%** | **Affiliated Investment Company 2.9%** | **Affiliated Investment Company 2.9%** |
| NYLI Merger Arbitrage ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 171273 | &nbsp;&nbsp;$6148701 |
| **Derivative Income Funds 1.4%** | **Derivative Income Funds 1.4%** | **Derivative Income Funds 1.4%** |
| JPMorgan Equity Premium Income ETF | &nbsp;&nbsp;&nbsp;&nbsp; 52607 | &nbsp;&nbsp;&nbsp;&nbsp; 3003860 |
| JPMorgan Nasdaq Equity Premium Income ETF | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 1265 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3005125 |
| **Managed Futures Funds 3.2%** | **Managed Futures Funds 3.2%** | **Managed Futures Funds 3.2%** |
| iMGP DBi Managed Futures Strategy ETF | &nbsp;&nbsp;&nbsp;&nbsp; 128128 | &nbsp;&nbsp;&nbsp;&nbsp; 3499176 |
| Simplify Managed Futures Strategy ETF | &nbsp;&nbsp;&nbsp;&nbsp; 111816 | &nbsp;&nbsp;&nbsp;&nbsp; 3127493 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6626669 |
| **Merger Arbitrage Fund 1.1%** | **Merger Arbitrage Fund 1.1%** | **Merger Arbitrage Fund 1.1%** |
| AltShares Merger Arbitrage ETF | &nbsp;&nbsp;&nbsp;&nbsp; 80596 | &nbsp;&nbsp;&nbsp;&nbsp; 2336478 |
| Total Alternative<br> (Cost $17,117,566) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18116973 |
| **Bonds 56.8%** | **Bonds 56.8%** | **Bonds 56.8%** |
| **Bank Loan Fund 9.2%** | **Bank Loan Fund 9.2%** | **Bank Loan Fund 9.2%** |
| Franklin Senior Loan ETF | &nbsp;&nbsp;&nbsp;&nbsp; 805604 | &nbsp;&nbsp;&nbsp;&nbsp; 19350608 |
| **Convertible Bond Funds 8.0%** | **Convertible Bond Funds 8.0%** | **Convertible Bond Funds 8.0%** |
| iShares Convertible Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6793495 |
| SPDR Bloomberg Convertible Securities ETF (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10172924 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16966419 |
| **Floating Rate—Investment Grade Funds 21.5%** | **Floating Rate—Investment Grade Funds 21.5%** | **Floating Rate—Investment Grade Funds 21.5%** |
| iShares Floating Rate Bond ETF (b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34815705 |
| SPDR Bloomberg Investment Grade Floating Rate ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10722924 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45538629 |
| **Municipal Bond Funds 9.3%** | **Municipal Bond Funds 9.3%** | **Municipal Bond Funds 9.3%** |
| iShares National Muni Bond ETF (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9907084 |
| Vanguard Tax-Exempt Bond Index ETF (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9675878 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19582962 |
| **Short Duration Fund 5.1%** | **Short Duration Fund 5.1%** | **Short Duration Fund 5.1%** |
| Vanguard Short-Term Treasury ETF (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10694575 |
| **Treasury Inflation Protected Security Funds 3.7%** | **Treasury Inflation Protected Security Funds 3.7%** | **Treasury Inflation Protected Security Funds 3.7%** |
| iShares 0-5 Year TIPS Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3549692 |
| Vanguard Short-Term Inflation-Protected Securities ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4296715 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7846407 |
| Total Bonds<br> (Cost $115,093,245) |  | &nbsp;&nbsp;&nbsp;&nbsp;119979600 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Commodities 4.2%** | **Commodities 4.2%** | **Commodities 4.2%** |
| **Agriculture Fund 2.2%** | **Agriculture Fund 2.2%** | **Agriculture Fund 2.2%** |
| Invesco DB Agriculture Fund | &nbsp;&nbsp;&nbsp;&nbsp; 172848 | &nbsp;&nbsp;$4625412 |
| **Broad Funds 2.0%** | **Broad Funds 2.0%** | **Broad Funds 2.0%** |
| abrdn Bloomberg All Commodity Strategy K-1 Free ETF | &nbsp;&nbsp;&nbsp;&nbsp; 53930 | &nbsp;&nbsp;&nbsp;&nbsp; 1161652 |
| Invesco Optimum Yield Diversified Commodity Strategy No. K-1 ETF | &nbsp;&nbsp;&nbsp;&nbsp; 237115 | &nbsp;&nbsp;&nbsp;&nbsp; 3184455 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4346107 |
| Total Commodities<br> (Cost $8,472,992) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8971519 |
| **Equities 30.2%** | **Equities 30.2%** | **Equities 30.2%** |
| **China Equity Funds 1.4%** | **China Equity Funds 1.4%** | **China Equity Funds 1.4%** |
| iShares MSCI China ETF (b) | &nbsp;&nbsp;&nbsp;&nbsp; 33626 | &nbsp;&nbsp;&nbsp;&nbsp; 2214272 |
| Xtrackers Harvest CSI 300 China A-Shares ETF (b) | &nbsp;&nbsp;&nbsp;&nbsp; 20198 | &nbsp;&nbsp;&nbsp;&nbsp; 666130 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2880402 |
| **Emerging Equity Funds 4.3%** | **Emerging Equity Funds 4.3%** | **Emerging Equity Funds 4.3%** |
| Franklin FTSE India ETF | &nbsp;&nbsp;&nbsp;&nbsp; 82952 | &nbsp;&nbsp;&nbsp;&nbsp; 3093280 |
| iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;&nbsp;&nbsp; 86869 | &nbsp;&nbsp;&nbsp;&nbsp; 5864526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8957806 |
| **International Equity Core Fund 6.8%** | **International Equity Core Fund 6.8%** | **International Equity Core Fund 6.8%** |
| Vanguard FTSE Developed Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14440421 |
| **U.S. Large Cap Core Funds 4.5%** | **U.S. Large Cap Core Funds 4.5%** | **U.S. Large Cap Core Funds 4.5%** |
| Communication Services Select Sector SPDR Fund (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3454984 |
| Financial Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1793063 |
| Industrial Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731976 |
| iShares Semiconductor ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825289 |
| Materials Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2731707 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9537019 |
| **U.S. Momentum Funds 4.7%** | **U.S. Momentum Funds 4.7%** | **U.S. Momentum Funds 4.7%** |
| iShares MSCI USA Momentum Factor ETF (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8635954 |
| iShares MSCI USA Quality Factor ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1223405 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9859359 |
| **U.S. Preferred Fund 3.7%** | **U.S. Preferred Fund 3.7%** | **U.S. Preferred Fund 3.7%** |
| Global X U.S. Preferred ETF (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7893884 |
| **U.S. Small Cap Core Funds 4.8%** | **U.S. Small Cap Core Funds 4.8%** | **U.S. Small Cap Core Funds 4.8%** |
| iShares Core S&P Small-Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10215102 |
| Total Equities<br> (Cost $55,455,908) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63783993 |
| Total Exchange-Traded Funds<br> (Cost $196,139,711) |  | &nbsp;&nbsp;&nbsp;&nbsp;210852085 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investments 10.8%** | **Short-Term Investments 10.8%** | **Short-Term Investments 10.8%** |
| **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** |
| NYLI U.S. Government Liquidity Fund, 4.03% (d) | &nbsp;&nbsp;&nbsp;&nbsp; 362171 | &nbsp;&nbsp;$362171 |
| **Unaffiliated Investment Companies 10.6%** | **Unaffiliated Investment Companies 10.6%** | **Unaffiliated Investment Companies 10.6%** |
| BlackRock Liquidity FedFund, 4.13% (d)(e) | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
| Invesco Government & Agency Portfolio, 4.13% (d)(e) | &nbsp;&nbsp;&nbsp;&nbsp;21444999 | &nbsp;&nbsp;&nbsp;&nbsp; 21444999 |
| Total Unaffiliated Investment Companies<br> (Cost $22,444,999) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22444999 |
| Total Short-Term Investments<br> (Cost $22,807,170) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22807170 |
| Total Investments<br> (Cost $218,946,881) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110.6% | &nbsp;&nbsp;&nbsp;&nbsp;233659255 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10.6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22354965) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$211304290 |

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---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $33,635,175; the total market value of collateral held by the Portfolio was $34,412,966. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $11,967,967. The Portfolio received cash collateral with a value of $22,444,999. |
| (c) | Represents a security, or portion thereof, which was maintained at the broker as collateral for swaps contracts. |
| (d) | Current yield as of September 30, 2025. |
| (e) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI Merger Arbitrage ETF | &nbsp;&nbsp;$9101 | &nbsp;&nbsp;$216 | &nbsp;&nbsp;$(3716) | &nbsp;&nbsp;$264 | &nbsp;&nbsp;$284 | &nbsp;&nbsp;$6149 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;171 |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;1246 | &nbsp;&nbsp;&nbsp;28685 | &nbsp;&nbsp;&nbsp;(29569) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;362 |
|  | &nbsp;&nbsp;$10347 | &nbsp;&nbsp;$28901 | &nbsp;&nbsp;$(33285) | &nbsp;&nbsp;$264 | &nbsp;&nbsp;$284 | &nbsp;&nbsp;$6511 | &nbsp;&nbsp;$23 | &nbsp;&nbsp;$— |  |

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------

#### Swap Contracts
Open OTC total return equity swap contracts as of September 30, 2025 were as follows<sup>1</sup>:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Swap<br> Counterparty** | &nbsp;&nbsp;**Reference Obligation** | &nbsp;&nbsp;**Floating Rate<sup>2</sup>** | &nbsp;&nbsp;**Termination<br> Date(s)** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Notional<br> Amount<br> Long/<br> (Short)<br> (000)<sup>3</sup>** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)<sup>4</sup>** |
| Bank of America Merrill Lynch | &nbsp;&nbsp;abrdn Bloomberg All Commodity Strategy K-1 Free ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;$— |
| Morgan Stanley & Co. | &nbsp;&nbsp;abrdn Bloomberg All Commodity Strategy K-1 Free ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;abrdn Physical Silver Shares ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;(102) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;abrdn Physical Silver Shares ETF | &nbsp;&nbsp;Federal Fund Rate minus 2.29% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;(102) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;AltShares Merger Arbitrage ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;AltShares Merger Arbitrage ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Communication Services Select Sector SPDR Fund | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Communication Services Select Sector SPDR Fund | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Financial Select Sector SPDR Fund | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Financial Select Sector SPDR Fund | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Franklin FTSE India ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Franklin FTSE India ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Franklin Senior Loan ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;1089 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Franklin Senior Loan ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;1089 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Global X U.S. Preferred ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Global X U.S. Preferred ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iMGP DBi Managed Futures Strategy ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iMGP DBi Managed Futures Strategy ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Invesco CurrencyShares Euro Currency Trust | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;(5097) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Invesco CurrencyShares Euro Currency Trust | &nbsp;&nbsp;Federal Fund Rate minus 6.00% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;(5097) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Invesco DB Agriculture Fund | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Invesco DB Agriculture Fund | &nbsp;&nbsp;Federal Fund Rate plus 1.60% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Invesco Optimum Yield Diversified Commodity Strategy No. K-1 ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Invesco Optimum Yield Diversified Commodity Strategy No. K-1 ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares 0-5 Year TIPS Bond ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares 0-5 Year TIPS Bond ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares 7-10 Year Treasury Bond ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;(1718) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares 7-10 Year Treasury Bond ETF | &nbsp;&nbsp;Federal Fund Rate minus 0.35% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;(1718) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares Convertible Bond ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;— |

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------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Swap<br> Counterparty** | &nbsp;&nbsp;**Reference Obligation** | &nbsp;&nbsp;**Floating Rate<sup>2</sup>** | &nbsp;&nbsp;**Termination<br> Date(s)** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Notional<br> Amount<br> Long/<br> (Short)<br> (000)<sup>3</sup>** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)<sup>4</sup>** |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares Convertible Bond ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;$— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares Core S&P Small-Cap ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares Core S&P Small-Cap ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares Floating Rate Bond ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;1959 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares Floating Rate Bond ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;1959 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares International Treasury Bond ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;(747) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares International Treasury Bond ETF | &nbsp;&nbsp;Federal Fund Rate minus 14.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;(747) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares MSCI China ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares MSCI China ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares MSCI USA Momentum Factor ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares MSCI USA Momentum Factor ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares MSCI USA Quality Factor ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares MSCI USA Quality Factor ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares National Muni Bond ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares National Muni Bond ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;iShares Semiconductor ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;iShares Semiconductor ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;JPMorgan Equity Premium Income ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;JPMorgan Equity Premium Income ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;JPMorgan Nasdaq Equity Premium Income ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—‡ | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;JPMorgan Nasdaq Equity Premium Income ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—‡ | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Materials Select Sector SPDR Fund | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Materials Select Sector SPDR Fund | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;NYLI Merger Arbitrage ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;NYLI Merger Arbitrage ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Simplify Managed Futures Strategy ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Simplify Managed Futures Strategy ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;SPDR Bloomberg Convertible Securities ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;— |

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------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Swap<br> Counterparty** | &nbsp;&nbsp;**Reference Obligation** | &nbsp;&nbsp;**Floating Rate<sup>2</sup>** | &nbsp;&nbsp;**Termination<br> Date(s)** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Notional<br> Amount<br> Long/<br> (Short)<br> (000)<sup>3</sup>** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)<sup>4</sup>** |
| Morgan Stanley & Co. | &nbsp;&nbsp;SPDR Bloomberg Convertible Securities ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;$— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;SPDR Bloomberg International Treasury Bond ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;(930) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;SPDR Bloomberg International Treasury Bond ETF | &nbsp;&nbsp;Federal Fund Rate minus 2.34% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;(930) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;SPDR Bloomberg Investment Grade Floating Rate ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;SPDR Bloomberg Investment Grade Floating Rate ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;The Health Care Select Sector SPDR Fund | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;(1734) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;The Health Care Select Sector SPDR Fund | &nbsp;&nbsp;Federal Fund Rate minus 0.10% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;(1734) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;The Industrial Select Sector SPDR Fund | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;The Industrial Select Sector SPDR Fund | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;United States Natural Gas Fund LP | &nbsp;&nbsp;Federal Funds Composite Interest Rate | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;(299) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;United States Natural Gas Fund LP | &nbsp;&nbsp;Federal Fund Rate minus 1.44% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;(299) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Vanguard FTSE Developed Markets ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Vanguard FTSE Developed Markets ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Vanguard Mid-Cap ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;(1189) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Vanguard Mid-Cap ETF | &nbsp;&nbsp;Federal Fund Rate minus 0.35% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;(1183) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Vanguard Short-Term Inflation-Protected Securities ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Vanguard Short-Term Inflation-Protected Securities ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Vanguard Short-Term Treasury ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Vanguard Short-Term Treasury ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Vanguard Tax-Exempt Bond Index ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Vanguard Tax-Exempt Bond Index ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Xtrackers Harvest CSI 300 China A-Shares ETF | &nbsp;&nbsp;Federal Funds Composite Interest Rate plus 0.50% | &nbsp;&nbsp;3/2/26 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. | &nbsp;&nbsp;Xtrackers Harvest CSI 300 China A-Shares ETF | &nbsp;&nbsp;Federal Fund Rate plus 0.50% | &nbsp;&nbsp;10/1/2027 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;$— |
| ‡ Less than $500. | ‡ Less than $500. | ‡ Less than $500. | ‡ Less than $500. | ‡ Less than $500. | ‡ Less than $500. | ‡ Less than $500. |

---

1. As of September 30, 2025, cash in the amount $450,000 was pledged to brokers for OTC swap contracts.

2. Portfolio pays or receives the floating rate and receives or pays the total return of the referenced entity.

3. Notional amounts reflected as a positive value indicate a long position held by the Portfolio or Index and a negative value indicates a short position.

4. Reflects the value at reset date as of September 30, 2025.

------

---

| |
|:---|
| Abbreviation(s): |
| DB—Deutsche Bank |
| ETF—Exchange-Traded Fund |
| FTSE—Financial Times Stock Exchange |
| MSCI—Morgan Stanley Capital International |
| SPDR—Standard & Poor's Depositary Receipt |
| TIPS—Treasury Inflation-Protected Security |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Exchange-Traded Funds | &nbsp;&nbsp; $210852085 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $210852085 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 362171 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 362171 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 22444999 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 22444999 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22807170 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22807170 |
| Total Investments in Securities | &nbsp;&nbsp;$233659255 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$233659255 |

---

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

------

## NYLI VP Janus Henderson Balanced Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 35.4%** | **Long-Term Bonds 35.4%** | **Long-Term Bonds 35.4%** |
| **Asset-Backed Securities 5.2%** | **Asset-Backed Securities 5.2%** | **Asset-Backed Securities 5.2%** |
| **Automobile Asset-Backed Securities 0.0% ‡** | **Automobile Asset-Backed Securities 0.0% ‡** | **Automobile Asset-Backed Securities 0.0% ‡** |
| Arivo Acceptance Auto Loan Receivables Trust | Arivo Acceptance Auto Loan Receivables Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.93%, due 5/15/28 (a) | &nbsp;&nbsp;&nbsp;$5526 | &nbsp;&nbsp;$5526 |
| Huntington Bank Auto Credit-Linked Notes | Huntington Bank Auto Credit-Linked Notes |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;5.442%, due 10/20/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446090 | &nbsp;&nbsp;&nbsp;&nbsp; 450421 |
| LAD Auto Receivables Trust | LAD Auto Receivables Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.21%, due 6/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12906 |
| Lendbuzz Securitization Trust (a) | Lendbuzz Securitization Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;4.22%, due 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135693 |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;6.92%, due 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153923 |
| Santander Bank Auto Credit-Linked Notes | Santander Bank Auto Credit-Linked Notes |  |
| &nbsp;&nbsp;&nbsp;Series 2022-B, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.587%, due 8/16/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68326 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826795 |
| **Home Equity Asset-Backed Securities 1.1%** | **Home Equity Asset-Backed Securities 1.1%** | **Home Equity Asset-Backed Securities 1.1%** |
| COOPR Residential Mortgage Trust (a)(b) | COOPR Residential Mortgage Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-CES3, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.84%, due 9/25/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984176 |
| &nbsp;&nbsp;&nbsp;Series 2025-CES2, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.502%, due 6/25/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419982 |
| EFMT | EFMT |  |
| &nbsp;&nbsp;&nbsp;Series 2025-CES1, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.726%, due 1/25/60 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452357 |
| FIGRE Trust (a)(c) | FIGRE Trust (a)(c) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-HE4, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.056%, due 9/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666670 |
| &nbsp;&nbsp;&nbsp;Series 2025-HE5, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.285%, due 8/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651361 |
| &nbsp;&nbsp;&nbsp;Series 2025-HE4, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.408%, due 7/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585073 |
| &nbsp;&nbsp;&nbsp;Series 2025-HE3, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.56%, due 5/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919098 |
| &nbsp;&nbsp;&nbsp;Series 2025-HE2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.775%, due 3/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802406 |
| &nbsp;&nbsp;&nbsp;Series 2024-HE3, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.937%, due 7/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356162 |
| &nbsp;&nbsp;&nbsp;Series 2024-HE1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.165%, due 3/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562012 |
| &nbsp;&nbsp;&nbsp;Series 2024-HE2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.38%, due 5/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464963 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Home Equity Asset-Backed Securities** | **Home Equity Asset-Backed Securities** | **Home Equity Asset-Backed Securities** |
| GS Mortgage Backed Securities Trust | GS Mortgage Backed Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-CES2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.18%, due 9/25/55 (a)(b) | &nbsp;&nbsp;&nbsp;$1700000 | &nbsp;&nbsp;$1700017 |
| RCKT Mortgage Trust (a) | RCKT Mortgage Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-CES9, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.795%, due 9/25/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792000 | &nbsp;&nbsp;&nbsp;&nbsp; 791769 |
| &nbsp;&nbsp;&nbsp;Series 2025-CES8, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.148%, due 8/25/55 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1136982 | &nbsp;&nbsp;&nbsp;&nbsp; 1143424 |
| &nbsp;&nbsp;&nbsp;Series 2024-CES7, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.158%, due 10/25/44 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455833 |
| &nbsp;&nbsp;&nbsp;Series 2024-CES6, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.344%, due 9/25/44 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919546 |
| &nbsp;&nbsp;&nbsp;Series 2025-CES7, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.377%, due 7/25/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663532 |
| &nbsp;&nbsp;&nbsp;Series 2025-CES6, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.472%, due 6/25/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457663 |
| &nbsp;&nbsp;&nbsp;Series 2025-CES2, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.503%, due 2/25/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817532 |
| &nbsp;&nbsp;&nbsp;Series 2025-CES3, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.553%, due 3/25/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463682 |
| &nbsp;&nbsp;&nbsp;Series 2024-CES9, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.582%, due 12/25/44 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812287 |
| &nbsp;&nbsp;&nbsp;Series 2024-CES5, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.846%, due 8/25/44 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172974 |
| &nbsp;&nbsp;&nbsp;Series 2024-CES1, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;6.025%, due 2/25/44 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580760 |
| &nbsp;&nbsp;&nbsp;Series 2024-CES2, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;6.141%, due 4/25/44 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1224936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239684 |
| Saluda Grade Alternative Mortgage Trust (a)(c) | Saluda Grade Alternative Mortgage Trust (a)(c) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-FIG5, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.255%, due 4/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578567 |
| &nbsp;&nbsp;&nbsp;Series 2024-CES1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;6.306%, due 3/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450236 |
| &nbsp;&nbsp;&nbsp;Series 2023-FIG4, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.718%, due 11/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739886 |
| &nbsp;&nbsp;&nbsp;Series 2023-FIG3, Class A |  |  |
| &nbsp;&nbsp;&nbsp;7.067%, due 8/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379571 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22231223 |
| **Other Asset-Backed Securities 4.1%** | **Other Asset-Backed Securities 4.1%** | **Other Asset-Backed Securities 4.1%** |
| AGL CLO 26 Ltd. | AGL CLO 26 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2023-26A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.555% (3 Month SOFR + 1.28%), due 10/21/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761110 |
| American Tower Trust #1 | American Tower Trust #1 |  |
| &nbsp;&nbsp;&nbsp;5.49%, due 3/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2081000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118652 |
| Aqua Finance Trust | Aqua Finance Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;1.54%, due 7/17/46 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107942 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| ARES LIII CLO Ltd. | ARES LIII CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-53A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.599% (3 Month SOFR + 1.28%), due 10/24/36 (a)(d) | &nbsp;&nbsp;&nbsp;$1974000 | &nbsp;&nbsp;$1978149 |
| Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2023-3A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.514% (3 Month SOFR + 1.31%), due 10/24/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1594000 | &nbsp;&nbsp;&nbsp;&nbsp; 1601173 |
| Ballyrock CLO 14 Ltd. | Ballyrock CLO 14 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2020-14A, Class A1BR |  |  |
| &nbsp;&nbsp;&nbsp;5.905% (3 Month SOFR + 1.58%), due 7/20/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345797 |
| Barings Loan Partners CLO Ltd. 5 | Barings Loan Partners CLO Ltd. 5 |  |
| &nbsp;&nbsp;&nbsp;Series LP-5A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.545% (3 Month SOFR + 1.22%), due 1/20/35 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655226 |
| Bayview Opportunity Master Fund VII LLC | Bayview Opportunity Master Fund VII LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-EDU1, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.033% (SOFR 30A + 1.70%), due 7/27/48 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486000 |
| Benefit Street Partners CLO 43 Ltd. | Benefit Street Partners CLO 43 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2025-43A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.187% (3 Month SOFR + 1.27%), due 10/20/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229961 |
| Benefit Street Partners CLO XV Ltd. | Benefit Street Partners CLO XV Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2018-15A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.708% (3 Month SOFR + 1.39%), due 7/15/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446099 |
| Carlyle U.S. CLO Ltd. | Carlyle U.S. CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2018-4A, Class A2R |  |  |
| &nbsp;&nbsp;&nbsp;5.882% (3 Month SOFR + 1.56%), due 10/17/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209320 |
| Carlyle US CLO Ltd. | Carlyle US CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.639% (3 Month SOFR + 1.32%), due 7/20/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2448000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2460987 |
| CBAM Ltd. (a)(d) | CBAM Ltd. (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2019-11RA, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.767% (3 Month SOFR + 1.442%), due 1/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569577 |
| &nbsp;&nbsp;&nbsp;Series 2019-11RA, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.337% (3 Month SOFR + 2.012%), due 1/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400774 |
| CBAMR Ltd. | CBAMR Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2018-5A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.452% (3 Month SOFR + 1.34%), due 10/17/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093910 |
| CF Hippolyta Issuer LLC (a) | CF Hippolyta Issuer LLC (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;1.53%, due 3/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788786 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;1.69%, due 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523444 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;1.98%, due 3/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278118 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;2.28%, due 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62660 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.97%, due 8/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996548 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;6.11%, due 8/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2886708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2763895 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| CIFC Funding Ltd. | CIFC Funding Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-7A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.371% (3 Month SOFR + 1.28%), due 10/19/38 (a)(d) | &nbsp;&nbsp;&nbsp;$1810000 | &nbsp;&nbsp;$1815598 |
| Compass Datacenters Issuer II LLC | Compass Datacenters Issuer II LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.316%, due 5/25/50 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2780000 | &nbsp;&nbsp;&nbsp;&nbsp; 2814758 |
| Compass Datacenters Issuer III LLC (a) | Compass Datacenters Issuer III LLC (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.656%, due 2/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469587 |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.835%, due 2/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920388 |
| CP EF Asset Securitization II LLC | CP EF Asset Securitization II LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;7.48%, due 3/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183199 |
| CRB Securitization Trust | CRB Securitization Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.96%, due 10/20/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11284 |
| CyrusOne Data Centers Issuer I LLC (a) | CyrusOne Data Centers Issuer I LLC (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/20/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223198 |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.65%, due 5/20/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2171000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2108790 |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.76%, due 3/22/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611493 |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 4/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280213 |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.56%, due 11/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282064 |
| DB Master Finance LLC (a) | DB Master Finance LLC (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II |  |  |
| &nbsp;&nbsp;&nbsp;2.493%, due 11/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253993 |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A2II |  |  |
| &nbsp;&nbsp;&nbsp;4.03%, due 11/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366681 |
| Diamond Infrastructure Funding LLC | Diamond Infrastructure Funding LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;1.76%, due 4/15/49 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988787 |
| Elmwood CLO X Ltd. | Elmwood CLO X Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3A, Class AR2 |  |  |
| &nbsp;&nbsp;&nbsp;5.558% (3 Month SOFR + 1.30%), due 7/20/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640070 |
| GoldenTree Loan Management US CLO 17 Ltd. | GoldenTree Loan Management US CLO 17 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2023-17A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;5.605% (3 Month SOFR + 1.28%), due 1/20/39 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1934725 |
| Gracie Point International Funding LLC | Gracie Point International Funding LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.055% (SOFR 90A + 1.70%), due 3/1/28 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482937 |
| Libra Solutions LLC | Libra Solutions LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.88%, due 9/30/38 (a)(e)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326384 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| M&T Equipment Notes | M&T Equipment Notes |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1A, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;5.74%, due 7/15/30 (a) | &nbsp;&nbsp;&nbsp;$237801 | &nbsp;&nbsp;$239456 |
| Madison Park Funding LV Ltd. | Madison Park Funding LV Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-55A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.689% (3 Month SOFR + 1.36%), due 7/18/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2458512 | &nbsp;&nbsp;&nbsp;&nbsp; 2463734 |
| Madison Park Funding LXII Ltd. | Madison Park Funding LXII Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-62A, Class A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;5.623% (3 Month SOFR + 1.30%), due 7/16/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1841000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847849 |
| Madison Park Funding LXXIII Ltd. | Madison Park Funding LXXIII Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2025-73A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.263% (3 Month SOFR + 1.30%), due 10/17/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008968 |
| Madison Park Funding XXXIV Ltd. | Madison Park Funding XXXIV Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-34A, Class A2RR |  |  |
| &nbsp;&nbsp;&nbsp;5.918% (3 Month SOFR + 1.60%), due 10/16/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790876 |
| Magnetite 50 Ltd. | Magnetite 50 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2025-50A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.589% (3 Month SOFR + 1.28%), due 7/25/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398476 |
| Marlette Funding Trust | Marlette Funding Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.54%, due 6/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15703 |
| NetCredit Combined Receivables LLC | NetCredit Combined Receivables LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;7.43%, due 10/21/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198604 |
| Neuberger Berman CLO 32R Ltd. | Neuberger Berman CLO 32R Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-32RA, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.639% (3 Month SOFR + 1.31%), due 7/20/39 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1697253 |
| New Economy Assets Phase 1 Sponsor LLC | New Economy Assets Phase 1 Sponsor LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;2.41%, due 10/20/61 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341371 |
| NRM FNT1 Excess LLC | NRM FNT1 Excess LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-FNT1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;7.398%, due 11/25/31 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801697 |
| NRZ Excess Spread-Collateralized Notes (a) | NRZ Excess Spread-Collateralized Notes (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-FHT1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.104%, due 7/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221021 |
| &nbsp;&nbsp;&nbsp;Series 2020-PLS1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.844%, due 12/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100698 |
| Oak Street Investment Grade Net Lease Fund | Oak Street Investment Grade Net Lease Fund |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;1.85%, due 11/20/50 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693628 |
| OCP CLO Ltd. (a)(d) | OCP CLO Ltd. (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-44A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.562% (3 Month SOFR + 1.30%), due 10/24/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901625 |
| &nbsp;&nbsp;&nbsp;Series 2020-8RA, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;5.572% (3 Month SOFR + 1.25%), due 10/17/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656624 |
| &nbsp;&nbsp;&nbsp;Series 2020-18A, Class A2R2 |  |  |
| &nbsp;&nbsp;&nbsp;5.895% (3 Month SOFR + 1.57%), due 7/20/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603198 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| Octagon Investment Partners 42 Ltd. | Octagon Investment Partners 42 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3A, Class A2RR |  |  |
| &nbsp;&nbsp;&nbsp;5.878% (3 Month SOFR + 1.56%), due 7/15/37 (a)(d) | &nbsp;&nbsp;&nbsp;$250000 | &nbsp;&nbsp;$250452 |
| OHA Credit Funding 7 Ltd. | OHA Credit Funding 7 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2020-7A, Class A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;5.544% (3 Month SOFR + 1.28%), due 7/19/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1734000 | &nbsp;&nbsp;&nbsp;&nbsp; 1738335 |
| OHA Credit Funding 9 Ltd. | OHA Credit Funding 9 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2021-9A, Class A2R |  |  |
| &nbsp;&nbsp;&nbsp;5.905% (3 Month SOFR + 1.58%), due 10/19/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142815 |
| QTS Issuer ABS I LLC | QTS Issuer ABS I LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.439%, due 5/25/55 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3453175 |
| QTS Issuer ABS II LLC | QTS Issuer ABS II LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.044%, due 10/5/55 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1887000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880624 |
| Regatta XXIII Funding Ltd. (a)(d) | Regatta XXIII Funding Ltd. (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.737% (3 Month SOFR + 1.412%), due 1/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412999 |
| &nbsp;&nbsp;&nbsp;Series 2021-4A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.287% (3 Month SOFR + 1.962%), due 1/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344597 |
| Sixth Street CLO IX Ltd. | Sixth Street CLO IX Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2017-9A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;5.705% (3 Month SOFR + 1.38%), due 7/21/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1682000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1687534 |
| Taco Bell Funding LLC | Taco Bell Funding LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II |  |  |
| &nbsp;&nbsp;&nbsp;2.294%, due 8/25/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343246 |
| Texas Debt Capital CLO Ltd. | Texas Debt Capital CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.695% (3 Month SOFR + 1.37%), due 10/21/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1703000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709368 |
| Vantage Data Centers Issuer LLC | Vantage Data Centers Issuer LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;2.165%, due 10/15/46 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3116564 |
| Vantage Data Centers LLC | Vantage Data Centers LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;1.992%, due 9/15/45 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667757 |
| Voya CLO Ltd. | Voya CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-4A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.875% (3 Month SOFR + 1.55%), due 7/20/37 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683101 |
| Wendy's Funding LLC (a) | Wendy's Funding LLC (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I |  |  |
| &nbsp;&nbsp;&nbsp;2.37%, due 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225690 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II |  |  |
| &nbsp;&nbsp;&nbsp;2.775%, due 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548325 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| Westgate Resorts LLC | Westgate Resorts LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;1.788%, due 8/20/36 (a) | &nbsp;&nbsp;&nbsp;$53099 | &nbsp;&nbsp;$52578 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80830218 |
| Total Asset-Backed Securities<br> (Cost $103,448,444) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103888236 |
| **Corporate Bonds 10.7%** | **Corporate Bonds 10.7%** | **Corporate Bonds 10.7%** |
| **Aerospace & Defense 0.1%** | **Aerospace & Defense 0.1%** | **Aerospace & Defense 0.1%** |
| Embraer Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;5.40%, due 1/9/38 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1771000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1763261 |
| TransDigm, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 1/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216996 |
| &nbsp;&nbsp;&nbsp;6.75%, due 1/31/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748586 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2728843 |
| **Auto Manufacturers 0.1%** | **Auto Manufacturers 0.1%** | **Auto Manufacturers 0.1%** |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.122%, due 11/7/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764246 |
| General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 4/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808768 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573014 |
| **Banks 2.4%** | **Banks 2.4%** | **Banks 2.4%** |
| Bank of America Corp. (h) |  |  |
| &nbsp;&nbsp;&nbsp;Series FIX |  |  |
| &nbsp;&nbsp;&nbsp;5.162%, due 1/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3202000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3304737 |
| &nbsp;&nbsp;&nbsp;5.744%, due 2/12/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5301000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5507573 |
| &nbsp;&nbsp;&nbsp;5.872%, due 9/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534397 |
| Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;6.474%, due 10/25/34 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613915 |
| Citigroup, Inc. (h) |  |  |
| &nbsp;&nbsp;&nbsp;3.887%, due 1/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2697000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2685990 |
| &nbsp;&nbsp;&nbsp;4.503%, due 9/11/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682369 |
| &nbsp;&nbsp;&nbsp;5.174%, due 9/11/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592957 |
| &nbsp;&nbsp;&nbsp;5.827%, due 2/13/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3674627 |
| Goldman Sachs Group, Inc. (The) (h) |  |  |
| &nbsp;&nbsp;&nbsp;5.207%, due 1/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1673000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1727009 |
| &nbsp;&nbsp;&nbsp;5.536%, due 1/28/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543845 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.14%, due 1/24/31 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466478 |
| Morgan Stanley (h) |  |  |
| &nbsp;&nbsp;&nbsp;2.943%, due 1/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313727 |
| &nbsp;&nbsp;&nbsp;5.32%, due 7/19/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635480 |
| &nbsp;&nbsp;&nbsp;5.424%, due 7/21/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1198186 |
| National Australia Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;2.99%, due 5/21/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2068000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886268 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Banks** | **Banks** | **Banks** |
| PNC Financial Services Group, Inc. (The) (h) |  |  |
| &nbsp;&nbsp;&nbsp;5.222%, due 1/29/31 | &nbsp;&nbsp;&nbsp;$500000 | &nbsp;&nbsp;$516611 |
| &nbsp;&nbsp;&nbsp;5.401%, due 7/23/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1586000 | &nbsp;&nbsp;&nbsp;&nbsp; 1641732 |
| &nbsp;&nbsp;&nbsp;5.575%, due 1/29/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 701000 | &nbsp;&nbsp;&nbsp;&nbsp; 731425 |
| &nbsp;&nbsp;&nbsp;6.875%, due 10/20/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1424000 | &nbsp;&nbsp;&nbsp;&nbsp; 1613325 |
| Societe Generale SA (a)(d) |  |  |
| &nbsp;&nbsp;&nbsp;5.50% (1 Year Treasury Constant Maturity Rate + 1.20%), due 4/13/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 992000 | &nbsp;&nbsp;&nbsp;&nbsp; 1012896 |
| &nbsp;&nbsp;&nbsp;6.10% (1 Year Treasury Constant Maturity Rate + 1.60%), due 4/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2316000 | &nbsp;&nbsp;&nbsp;&nbsp; 2440805 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;2.491% (5 Year Treasury Constant Maturity Rate + 0.95%), due 11/3/36 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268151 |
| &nbsp;&nbsp;&nbsp;5.046%, due 2/12/31 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436911 |
| &nbsp;&nbsp;&nbsp;5.384%, due 1/23/30 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301703 |
| &nbsp;&nbsp;&nbsp;5.424%, due 2/12/36 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595618 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.244%, due 1/24/31 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2955000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057266 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46984001 |
| **Biotechnology 0.1%** | **Biotechnology 0.1%** | **Biotechnology 0.1%** |
| Illumina, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.80%, due 12/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707949 |
| Royalty Pharma plc |  |  |
| &nbsp;&nbsp;&nbsp;3.55%, due 9/2/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631611 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339560 |
| **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 3/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114568 |
| **Chemicals 0.0% ‡** | **Chemicals 0.0% ‡** | **Chemicals 0.0% ‡** |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705339 |
| **Computers 0.2%** | **Computers 0.2%** | **Computers 0.2%** |
| Booz Allen Hamilton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.95%, due 8/4/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483864 |
| &nbsp;&nbsp;&nbsp;5.95%, due 4/15/35 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2394000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495761 |
| CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 6/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610678 |
| Western Digital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4883132 |
| **Distribution & Wholesale 0.0% ‡** | **Distribution & Wholesale 0.0% ‡** | **Distribution & Wholesale 0.0% ‡** |
| LKQ Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806209 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Diversified Financial Services 1.4%** | **Diversified Financial Services 1.4%** | **Diversified Financial Services 1.4%** |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.918%, due 7/20/33 (h) | &nbsp;&nbsp;&nbsp;$1658000 | &nbsp;&nbsp;$1686863 |
| Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 4/18/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1451000 | &nbsp;&nbsp;&nbsp;&nbsp; 1521698 |
| Capital One Financial Corp. (h) |  |  |
| &nbsp;&nbsp;&nbsp;5.70%, due 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329000 | &nbsp;&nbsp;&nbsp;&nbsp; 341573 |
| &nbsp;&nbsp;&nbsp;5.884%, due 7/26/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1876000 | &nbsp;&nbsp;&nbsp;&nbsp; 1967507 |
| &nbsp;&nbsp;&nbsp;6.183%, due 1/30/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1215000 | &nbsp;&nbsp;&nbsp;&nbsp; 1260386 |
| &nbsp;&nbsp;&nbsp;6.312%, due 6/8/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572761 |
| &nbsp;&nbsp;&nbsp;7.624%, due 10/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343619 |
| &nbsp;&nbsp;&nbsp;7.964%, due 11/2/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989611 |
| Citadel Securities Global Holdings LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/18/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256590 |
| &nbsp;&nbsp;&nbsp;6.20%, due 6/18/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365565 |
| Jane Street Group (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 11/1/32 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2309000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2340308 |
| &nbsp;&nbsp;&nbsp;7.125%, due 4/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037354 |
| LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960809 |
| &nbsp;&nbsp;&nbsp;5.20%, due 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590233 |
| &nbsp;&nbsp;&nbsp;5.65%, due 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987277 |
| &nbsp;&nbsp;&nbsp;5.75%, due 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200792 |
| &nbsp;&nbsp;&nbsp;6.00%, due 5/20/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650904 |
| &nbsp;&nbsp;&nbsp;6.75%, due 11/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367402 |
| Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1947000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044331 |
| Rocket Cos., Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718424 |
| &nbsp;&nbsp;&nbsp;6.375%, due 8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2935000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3029255 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27233262 |
| **Electric 0.7%** | **Electric 0.7%** | **Electric 0.7%** |
| American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716601 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 6/15/34 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397542 |
| Duquesne Light Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.775%, due 1/7/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890248 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162445 |
| National Grid plc |  |  |
| &nbsp;&nbsp;&nbsp;5.809%, due 6/12/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072449 |
| NRG Energy, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.734%, due 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515520 |
| &nbsp;&nbsp;&nbsp;5.407%, due 10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039524 |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813169 |
| &nbsp;&nbsp;&nbsp;6.00%, due 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526219 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Electric** | **Electric** | **Electric** |
| Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.60%, due 4/15/35 | &nbsp;&nbsp;&nbsp;$832000 | &nbsp;&nbsp;$862482 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12996199 |
| **Entertainment 0.0% ‡** | **Entertainment 0.0% ‡** | **Entertainment 0.0% ‡** |
| Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 6/4/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 743000 | &nbsp;&nbsp;&nbsp;&nbsp; 754160 |
| **Food 0.1%** | **Food 0.1%** | **Food 0.1%** |
| Albertsons Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 2/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884726 |
| JBS USA Holding LUX SARL |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711266 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595992 |
| **Healthcare-Products 0.2%** | **Healthcare-Products 0.2%** | **Healthcare-Products 0.2%** |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 3/13/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028249 |
| &nbsp;&nbsp;&nbsp;5.60%, due 3/23/34 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2669456 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4697705 |
| **Healthcare-Services 0.7%** | **Healthcare-Services 0.7%** | **Healthcare-Services 0.7%** |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3778000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3710062 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621995 |
| &nbsp;&nbsp;&nbsp;5.60%, due 4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087913 |
| &nbsp;&nbsp;&nbsp;5.875%, due 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286369 |
| Health Care Service Corp. A Mutual Legal Reserve Co. (a) |  |  |
| &nbsp;&nbsp;&nbsp;2.20%, due 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798311 |
| &nbsp;&nbsp;&nbsp;5.20%, due 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283102 |
| &nbsp;&nbsp;&nbsp;5.45%, due 6/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2116000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2173131 |
| Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351402 |
| &nbsp;&nbsp;&nbsp;5.95%, due 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990759 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2192710 |
| Universal Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.65%, due 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226606 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13722360 |
| **Insurance 0.4%** | **Insurance 0.4%** | **Insurance 0.4%** |
| Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, due 3/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3199000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3332412 |
| Arthur J. Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221400 |
| &nbsp;&nbsp;&nbsp;5.15%, due 2/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549420 |
| &nbsp;&nbsp;&nbsp;6.50%, due 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718494 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Insurance** | **Insurance** | **Insurance** |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;2.646%, due 10/4/31 (a) | &nbsp;&nbsp;&nbsp;$1063000 | &nbsp;&nbsp;$946732 |
| Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 6/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438000 | &nbsp;&nbsp;&nbsp;&nbsp; 443885 |
| &nbsp;&nbsp;&nbsp;4.95%, due 3/17/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1434000 | &nbsp;&nbsp;&nbsp;&nbsp; 1263001 |
| &nbsp;&nbsp;&nbsp;5.25%, due 6/23/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192000 | &nbsp;&nbsp;&nbsp;&nbsp; 196861 |
| &nbsp;&nbsp;&nbsp;5.55%, due 6/23/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204000 | &nbsp;&nbsp;&nbsp;&nbsp; 209845 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7882050 |
| **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** |
| AppLovin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324129 |
| &nbsp;&nbsp;&nbsp;5.50%, due 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1561788 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2885917 |
| **Investment Companies 0.1%** | **Investment Companies 0.1%** | **Investment Companies 0.1%** |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;7.30%, due 11/27/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011559 |
| Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 2/8/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162719 |
| &nbsp;&nbsp;&nbsp;7.95%, due 6/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086852 |
| **Leisure Time 0.3%** | **Leisure Time 0.3%** | **Leisure Time 0.3%** |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 8/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473598 |
| NCL Corp. Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2669900 |
| &nbsp;&nbsp;&nbsp;6.25%, due 9/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1663566 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5807064 |
| **Media 0.2%** | **Media 0.2%** | **Media 0.2%** |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.65%, due 2/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521027 |
| **Oil & Gas 0.6%** | **Oil & Gas 0.6%** | **Oil & Gas 0.6%** |
| Civitas Resources, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393552 |
| &nbsp;&nbsp;&nbsp;8.75%, due 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722280 |
| &nbsp;&nbsp;&nbsp;9.625%, due 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1366000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442779 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619980 |
| &nbsp;&nbsp;&nbsp;5.375%, due 1/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429877 |
| &nbsp;&nbsp;&nbsp;6.125%, due 1/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879561 |
| &nbsp;&nbsp;&nbsp;6.625%, due 9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819639 |
| &nbsp;&nbsp;&nbsp;8.875%, due 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765990 |
| Sunoco LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557854 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Oil & Gas** | **Oil & Gas** | **Oil & Gas** |
| Sunoco LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 3/15/34 | &nbsp;&nbsp;&nbsp;$954000 | &nbsp;&nbsp;$945740 |
| &nbsp;&nbsp;&nbsp;7.00%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1457000 | &nbsp;&nbsp;&nbsp;&nbsp; 1508587 |
| &nbsp;&nbsp;&nbsp;7.25%, due 5/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 819000 | &nbsp;&nbsp;&nbsp;&nbsp; 859525 |
| Viper Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.90%, due 8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 443281 |
| &nbsp;&nbsp;&nbsp;5.70%, due 8/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1171000 | &nbsp;&nbsp;&nbsp;&nbsp; 1190579 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12579224 |
| **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** |
| Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/17/35 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017351 |
| Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.65%, due 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418862 |
| &nbsp;&nbsp;&nbsp;5.80%, due 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2428000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567106 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4003319 |
| **Pharmaceuticals 0.6%** | **Pharmaceuticals 0.6%** | **Pharmaceuticals 0.6%** |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.78%, due 3/25/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2105972 |
| &nbsp;&nbsp;&nbsp;5.00%, due 9/15/32 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587097 |
| &nbsp;&nbsp;&nbsp;5.25%, due 2/21/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196444 |
| &nbsp;&nbsp;&nbsp;5.45%, due 9/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049148 |
| &nbsp;&nbsp;&nbsp;5.70%, due 6/1/34 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034154 |
| &nbsp;&nbsp;&nbsp;6.20%, due 9/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614451 |
| Organon & Co. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 5/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022173 |
| &nbsp;&nbsp;&nbsp;7.875%, due 5/15/34 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314563 |
| Teva Pharmaceutical Finance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.15%, due 2/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602071 |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343517 |
| Teva Pharmaceutical Finance Netherlands IV BV |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1352000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11262027 |
| **Pipelines 0.5%** | **Pipelines 0.5%** | **Pipelines 0.5%** |
| Cheniere Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.65%, due 4/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1385449 |
| Columbia Pipelines Operating Co. LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.036%, due 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852562 |
| &nbsp;&nbsp;&nbsp;6.497%, due 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171714 |
| &nbsp;&nbsp;&nbsp;6.544%, due 11/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893527 |
| DT Midstream, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1746439 |
| &nbsp;&nbsp;&nbsp;4.30%, due 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447621 |
| &nbsp;&nbsp;&nbsp;4.375%, due 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2725344 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Pipelines** | **Pipelines** | **Pipelines** |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 6/15/28 (a) | &nbsp;&nbsp;&nbsp;$990000 | &nbsp;&nbsp;$988882 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9211538 |
| **Real Estate 0.1%** | **Real Estate 0.1%** | **Real Estate 0.1%** |
| CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.95%, due 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2181000 | &nbsp;&nbsp;&nbsp;&nbsp; 2326333 |
| **Real Estate Investment Trusts 0.2%** | **Real Estate Investment Trusts 0.2%** | **Real Estate Investment Trusts 0.2%** |
| GLP Capital LP |  |  |
| &nbsp;&nbsp;&nbsp;5.30%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87573 |
| &nbsp;&nbsp;&nbsp;5.625%, due 9/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019209 |
| &nbsp;&nbsp;&nbsp;6.75%, due 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954614 |
| Sun Communities Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;2.70%, due 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160519 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1148827 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4370742 |
| **Semiconductors 0.6%** | **Semiconductors 0.6%** | **Semiconductors 0.6%** |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.80%, due 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419595 |
| &nbsp;&nbsp;&nbsp;4.90%, due 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913528 |
| &nbsp;&nbsp;&nbsp;4.90%, due 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1737000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1727693 |
| &nbsp;&nbsp;&nbsp;5.20%, due 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157048 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 1/25/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484518 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.45%, due 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402093 |
| Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.65%, due 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781387 |
| &nbsp;&nbsp;&nbsp;4.75%, due 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521708 |
| &nbsp;&nbsp;&nbsp;5.45%, due 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387636 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11795206 |
| **Software 0.5%** | **Software 0.5%** | **Software 0.5%** |
| Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 9/10/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944472 |
| Constellation Software, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.158%, due 2/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399291 |
| &nbsp;&nbsp;&nbsp;5.461%, due 2/16/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160496 |
| MSCI, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1568176 |
| &nbsp;&nbsp;&nbsp;3.875%, due 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075033 |
| &nbsp;&nbsp;&nbsp;4.00%, due 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288215 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.45%, due 9/26/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597707 |
| &nbsp;&nbsp;&nbsp;4.80%, due 9/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212456 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Software** | **Software** | **Software** |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.20%, due 9/26/35 | &nbsp;&nbsp;&nbsp;$594000 | &nbsp;&nbsp;$597271 |
| &nbsp;&nbsp;&nbsp;5.95%, due 9/26/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566000 | &nbsp;&nbsp;&nbsp;&nbsp; 564259 |
| Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1021897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9429273 |
| **Telecommunications 0.2%** | **Telecommunications 0.2%** | **Telecommunications 0.2%** |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051799 |
| &nbsp;&nbsp;&nbsp;5.30%, due 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2267540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3319339 |
| Total Corporate Bonds<br> (Cost $207,092,333) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211614255 |
| **Loan Assignments 0.6%** | **Loan Assignments 0.6%** | **Loan Assignments 0.6%** |
| **Aerospace & Defense 0.1%** | **Aerospace & Defense 0.1%** | **Aerospace & Defense 0.1%** |
| TransDigm, Inc. | TransDigm, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan M | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan M |  |
| &nbsp;&nbsp;&nbsp;6.502% (3 Month SOFR + 2.50%), due 8/19/32 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1482540 |
| **Capital Equipment 0.2%** | **Capital Equipment 0.2%** | **Capital Equipment 0.2%** |
| EMRLD Borrower LP (d) | EMRLD Borrower LP (d) |  |
| &nbsp;&nbsp;&nbsp;First Lien Second Amendment Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Amendment Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.122% (6 Month SOFR + 2.25%), due 8/4/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2808492 |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.449% (3 Month SOFR + 2.25%), due 5/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649521 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3458013 |
| **Cargo Transport 0.1%** | **Cargo Transport 0.1%** | **Cargo Transport 0.1%** |
| Genesee & Wyoming, Inc. | Genesee & Wyoming, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;5.752% (3 Month SOFR + 1.75%), due 4/10/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2423428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412992 |
| **Electronics 0.0% ‡** | **Electronics 0.0% ‡** | **Electronics 0.0% ‡** |
| Qnity Electronics, Inc. | Qnity Electronics, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;5.983% (1 Year SOFR + 2.00%), due 8/12/32 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562296 |
| **Energy (Electricity) 0.1%** | **Energy (Electricity) 0.1%** | **Energy (Electricity) 0.1%** |
| Alpha Generation LLC | Alpha Generation LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 9/30/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980547 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Energy (Electricity)** | **Energy (Electricity)** | **Energy (Electricity)** |
| Lightning Power LLC | Lightning Power LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.252% (3 Month SOFR + 2.25%), due 8/18/31 (d) | &nbsp;&nbsp;&nbsp;$1785960 | &nbsp;&nbsp;$1783408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2763955 |
| **Finance 0.0% ‡** | **Finance 0.0% ‡** | **Finance 0.0% ‡** |
| Belron Finance 2019 LLC | Belron Finance 2019 LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2031 Dollar Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2031 Dollar Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.742% (3 Month SOFR + 2.50%), due 10/16/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 838546 | &nbsp;&nbsp;&nbsp;&nbsp; 842040 |
| **Healthcare 0.1%** | **Healthcare 0.1%** | **Healthcare 0.1%** |
| Medline Borrower LP | Medline Borrower LP |  |
| &nbsp;&nbsp;&nbsp;First Lien 2030 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2030 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.163% (1 Month SOFR + 2.00%), due 10/23/30 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505867 |
| Total Loan Assignments<br> (Cost $13,027,263) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13027703 |
| **Mortgage-Backed Securities 5.9%** | **Mortgage-Backed Securities 5.9%** | **Mortgage-Backed Securities 5.9%** |
| **Agency (Collateralized Mortgage Obligations) 0.1%** | **Agency (Collateralized Mortgage Obligations) 0.1%** | **Agency (Collateralized Mortgage Obligations) 0.1%** |
| Croton Park CLO Ltd. | Croton Park CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;5.878%, due 10/15/36 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081601 |
| FNMA | FNMA |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2018-27, Class EA |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/25/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372808 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-71, Class P |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 11/25/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547116 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001525 |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 3.5%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 3.5%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 3.5%** |
| 280 Park Avenue Mortgage Trust | 280 Park Avenue Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2017-280P, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.33% (1 Month SOFR + 1.18%), due 9/15/34 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693908 |
| ALA Trust | ALA Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-OANA, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.894% (1 Month SOFR + 1.743%), due 6/15/40 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793900 |
| BAMLL Re-REMIC Trust (a)(c) | BAMLL Re-REMIC Trust (a)(c) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-FRR3, Class E |  |  |
| &nbsp;&nbsp;&nbsp;0.49%, due 1/27/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527132 |
| &nbsp;&nbsp;&nbsp;Series 2024-FRR4, Class F |  |  |
| &nbsp;&nbsp;&nbsp;1.047%, due 11/27/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273590 |
| &nbsp;&nbsp;&nbsp;Series 2024-FRR4, Class E |  |  |
| &nbsp;&nbsp;&nbsp;1.115%, due 11/27/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139668 |
| &nbsp;&nbsp;&nbsp;Series 2024-FRR2, Class E |  |  |
| &nbsp;&nbsp;&nbsp;1.273%, due 7/27/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361926 |
| BLP Commercial Mortgage Trust | BLP Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-IND, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.35% (1 Month SOFR + 1.20%), due 3/15/42 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1746000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742181 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| BPR Trust (a) | BPR Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-PMDW, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.358%, due 11/5/41 (j) | &nbsp;&nbsp;&nbsp;$2248107 | &nbsp;&nbsp;$2288737 |
| &nbsp;&nbsp;&nbsp;Series 2024-PMDW, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.85%, due 11/5/41 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 726000 | &nbsp;&nbsp;&nbsp;&nbsp; 715003 |
| &nbsp;&nbsp;&nbsp;Series 2023-BRK2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;7.146%, due 10/5/38 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1329000 | &nbsp;&nbsp;&nbsp;&nbsp; 1397156 |
| BX Commercial Mortgage Trust (a) | BX Commercial Mortgage Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-VOLT, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.215% (1 Month SOFR + 1.064%), due 9/15/36 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904955 |
| &nbsp;&nbsp;&nbsp;Series 2024-GPA3, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.443% (1 Month SOFR + 1.293%), due 12/15/39 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013493 |
| &nbsp;&nbsp;&nbsp;Series 2024-VLT5, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.591%, due 11/13/46 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2291933 |
| &nbsp;&nbsp;&nbsp;Series 2025-SPOT, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.594% (1 Month SOFR + 1.443%), due 4/15/40 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874177 |
| &nbsp;&nbsp;&nbsp;Series 2024-AIR2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.643% (1 Month SOFR + 1.492%), due 10/15/41 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1718851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721537 |
| &nbsp;&nbsp;&nbsp;Series 2024-GPA3, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.792% (1 Month SOFR + 1.642%), due 12/15/39 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700856 |
| &nbsp;&nbsp;&nbsp;Series 2021-VOLT, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.915% (1 Month SOFR + 1.764%), due 9/15/36 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950348 |
| &nbsp;&nbsp;&nbsp;Series 2024-VLT5, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.995%, due 11/13/46 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537161 |
| &nbsp;&nbsp;&nbsp;Series 2024-VLT5, Class C |  |  |
| &nbsp;&nbsp;&nbsp;6.398%, due 11/13/46 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286638 |
| &nbsp;&nbsp;&nbsp;Series 2024-AIRC, Class C |  |  |
| &nbsp;&nbsp;&nbsp;6.74% (1 Month SOFR + 2.59%), due 8/15/39 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712075 |
| &nbsp;&nbsp;&nbsp;Series 2024-BRBK, Class A |  |  |
| &nbsp;&nbsp;&nbsp;7.027% (1 Month SOFR + 2.88%), due 10/15/41 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980814 |
| BX Trust (a) | BX Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class B |  |  |
| &nbsp;&nbsp;&nbsp;3.605%, due 12/9/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194440 |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class C |  |  |
| &nbsp;&nbsp;&nbsp;3.856%, due 12/9/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536783 |
| &nbsp;&nbsp;&nbsp;Series 2022-FOX2, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.899% (1 Month SOFR + 0.749%), due 4/15/39 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710034 |
| &nbsp;&nbsp;&nbsp;Series 2021-LBA, Class AJV |  |  |
| &nbsp;&nbsp;&nbsp;5.065% (1 Month SOFR + 0.914%), due 2/15/36 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117651 |
| &nbsp;&nbsp;&nbsp;Series 2021-LBA, Class AV |  |  |
| &nbsp;&nbsp;&nbsp;5.065% (1 Month SOFR + 0.914%), due 2/15/36 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886734 |
| &nbsp;&nbsp;&nbsp;Series 2025-ROIC, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.294% (1 Month SOFR + 1.144%), due 3/15/30 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156841 |
| &nbsp;&nbsp;&nbsp;Series 2025-DIME, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.30% (1 Month SOFR + 1.15%), due 2/15/35 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681314 |
| &nbsp;&nbsp;&nbsp;Series 2025-ROIC, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.544% (1 Month SOFR + 1.393%), due 3/15/30 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471972 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| BX Trust (a) | BX Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-VLT4, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.642% (1 Month SOFR + 1.491%), due 6/15/41 (d) | &nbsp;&nbsp;&nbsp;$1621595 | &nbsp;&nbsp;$1622609 |
| &nbsp;&nbsp;&nbsp;Series 2025-GW, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.75% (1 Month SOFR + 1.60%), due 7/15/42 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1618000 | &nbsp;&nbsp;&nbsp;&nbsp; 1622551 |
| &nbsp;&nbsp;&nbsp;Series 2025-VLT7, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.85% (1 Month SOFR + 1.70%), due 7/15/44 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3422000 | &nbsp;&nbsp;&nbsp;&nbsp; 3430555 |
| BXHPP Trust | BXHPP Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-FILM, Class A |  |  |
| &nbsp;&nbsp;&nbsp;4.914% (1 Month SOFR + 0.764%), due 8/15/36 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402550 |
| BXP Trust | BXP Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2017-GM, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.379%, due 6/13/39 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386879 |
| CONE Trust (a)(d) | CONE Trust (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-DFW1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.792% (1 Month SOFR + 1.642%), due 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116115 |
| &nbsp;&nbsp;&nbsp;Series 2024-DFW1, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.441% (1 Month SOFR + 2.291%), due 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822675 |
| DATA Mortgage Trust | DATA Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CTR2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.476%, due 5/10/46 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448355 |
| Extended Stay America Trust (a)(d) | Extended Stay America Trust (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-ESH, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.344% (1 Month SOFR + 1.194%), due 7/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455369 |
| &nbsp;&nbsp;&nbsp;Series 2025-ESH, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.45% (1 Month SOFR + 1.30%), due 10/15/42 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202250 |
| FREMF Mortgage Trust | FREMF Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2023-K511, Class C |  |  |
| &nbsp;&nbsp;&nbsp;5.822%, due 11/25/28 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326599 |
| GS Mortgage Securities Corp. Trust | GS Mortgage Securities Corp. Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-800D, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.786% (1 Month SOFR + 2.65%), due 11/25/41 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2359000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362342 |
| GWT | GWT |  |
| &nbsp;&nbsp;&nbsp;Series 2024-WLF2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.841% (1 Month SOFR + 1.691%), due 5/15/41 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939630 |
| Hudsons Bay Simon JV Trust (a) | Hudsons Bay Simon JV Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2015-HB7, Class A7 |  |  |
| &nbsp;&nbsp;&nbsp;3.914%, due 8/5/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47140 |
| &nbsp;&nbsp;&nbsp;Series 2015-HB10, Class A10 |  |  |
| &nbsp;&nbsp;&nbsp;4.155%, due 8/5/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235133 |
| KRE Commercial Mortgage Trust | KRE Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-AIP4, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.45% (1 Month SOFR + 1.30%), due 3/15/42 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489136 |
| LBA Trust | LBA Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-BOLT, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.741% (1 Month SOFR + 1.591%), due 6/15/39 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1294627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296245 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| LEX Mortgage Trust | LEX Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-BBG, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.036%, due 10/13/33 (a)(j) | &nbsp;&nbsp;&nbsp;$394000 | &nbsp;&nbsp;$396355 |
| Life Mortgage Trust (a)(d) | Life Mortgage Trust (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-BMR, Class C |  |  |
| &nbsp;&nbsp;&nbsp;5.364% (1 Month SOFR + 1.214%), due 3/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98683 | &nbsp;&nbsp;&nbsp;&nbsp; 98251 |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.445% (1 Month SOFR + 1.295%), due 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1231000 | &nbsp;&nbsp;&nbsp;&nbsp; 1197148 |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.944% (1 Month SOFR + 1.794%), due 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334662 |
| MHC Commercial Mortgage Trust (a)(d) | MHC Commercial Mortgage Trust (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-MHC, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.065% (1 Month SOFR + 0.915%), due 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205171 |
| &nbsp;&nbsp;&nbsp;Series 2021-MHC, Class C |  |  |
| &nbsp;&nbsp;&nbsp;5.615% (1 Month SOFR + 1.465%), due 4/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751130 |
| NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-PARK, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.543% (1 Month SOFR + 1.393%), due 10/15/40 (a)(d)(g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475201 |
| NRTH Mortgage Trust | NRTH Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-PARK, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.791% (1 Month SOFR + 1.641%), due 3/15/39 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2293000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287973 |
| OPEN Trust | OPEN Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2023-AIR, Class C |  |  |
| &nbsp;&nbsp;&nbsp;9.386% (1 Month SOFR + 5.236%), due 11/15/40 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265556 |
| SCG Commercial Mortgage Trust | SCG Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-DLFN, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.35% (1 Month SOFR + 1.20%), due 3/15/35 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982276 |
| SELF Commercial Mortgage Trust | SELF Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-STRG, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.692% (1 Month SOFR + 1.542%), due 11/15/34 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1844535 |
| SMRT | SMRT |  |
| &nbsp;&nbsp;&nbsp;Series 2022-MINI, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.151% (1 Month SOFR + 1.00%), due 1/15/39 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972531 |
| SREIT Trust | SREIT Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-MFP, Class A |  |  |
| &nbsp;&nbsp;&nbsp;4.995% (1 Month SOFR + 0.845%), due 11/15/38 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113976 |
| TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-TWR, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.443% (1 Month SOFR + 1.293%), due 4/15/42 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560496 |
| Trust (The) | Trust (The) |  |
| &nbsp;&nbsp;&nbsp;Series 2023-MIC, Class A |  |  |
| &nbsp;&nbsp;&nbsp;8.732%, due 12/5/38 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011404 |
| TYSN Mortgage Trust | TYSN Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2023-CRNR, Class A |  |  |
| &nbsp;&nbsp;&nbsp;6.799%, due 12/10/33 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1572258 |
| VASA Trust | VASA Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-VASA, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.165% (1 Month SOFR + 1.014%), due 7/15/39 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513227 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| Wells Fargo Commercial Mortgage Trust (a) | Wells Fargo Commercial Mortgage Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-VTT, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.27%, due 3/15/38 (j) | &nbsp;&nbsp;&nbsp;$2029000 | &nbsp;&nbsp;$2036682 |
| &nbsp;&nbsp;&nbsp;Series 2021-SAVE, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.515% (1 Month SOFR + 1.364%), due 2/15/40 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100495 | &nbsp;&nbsp;&nbsp;&nbsp; 100244 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69588166 |
| **Whole Loan (Collateralized Mortgage Obligations) 2.3%** | **Whole Loan (Collateralized Mortgage Obligations) 2.3%** | **Whole Loan (Collateralized Mortgage Obligations) 2.3%** |
| A&D Mortgage Trust | A&D Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-NQM5, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.699%, due 11/25/69 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054295 |
| Angel Oak Mortgage Trust (a) | Angel Oak Mortgage Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2020-3, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;2.41%, due 4/25/65 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99942 |
| &nbsp;&nbsp;&nbsp;Series 2019-5, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.593%, due 10/25/49 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29256 |
| &nbsp;&nbsp;&nbsp;Series 2019-6, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.62%, due 11/25/59 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297920 |
| &nbsp;&nbsp;&nbsp;Series 2024-5, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 7/25/68 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454713 |
| &nbsp;&nbsp;&nbsp;Series 2025-6, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.515%, due 4/25/70 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218470 |
| Bayview MSR Opportunity Master Fund Trust (a) | Bayview MSR Opportunity Master Fund Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/25/51 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495864 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class AF |  |  |
| &nbsp;&nbsp;&nbsp;5.00% (SOFR 30A + 0.85%), due 11/25/51 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700734 |
| Chase Mortgage Finance Corp. | Chase Mortgage Finance Corp. |  |
| &nbsp;&nbsp;&nbsp;Series 2021-CL1, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.556% (SOFR 30A + 1.20%), due 2/25/50 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733578 |
| COLT Mortgage Loan Trust | COLT Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2020-3, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;1.506%, due 4/27/65 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9658 |
| Connecticut Avenue Securities Trust (a)(d) | Connecticut Avenue Securities Trust (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-R05, Class 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.356% (SOFR 30A + 1.00%), due 7/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193955 |
| &nbsp;&nbsp;&nbsp;Series 2024-R01, Class 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.406% (SOFR 30A + 1.05%), due 1/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378557 |
| &nbsp;&nbsp;&nbsp;Series 2025-R01, Class 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.448% (SOFR 30A + 1.10%), due 1/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252346 |
| &nbsp;&nbsp;&nbsp;Series 2024-R04, Class 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.456% (SOFR 30A + 1.10%), due 5/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320758 |
| &nbsp;&nbsp;&nbsp;Series 2024-R03, Class 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.498% (SOFR 30A + 1.15%), due 3/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248384 |
| &nbsp;&nbsp;&nbsp;Series 2025-R02, Class 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.498% (SOFR 30A + 1.15%), due 2/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477080 |
| &nbsp;&nbsp;&nbsp;Series 2025-R05, Class 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.556% (SOFR 30A + 1.20%), due 7/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736542 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| Connecticut Avenue Securities Trust (a)(d) | Connecticut Avenue Securities Trust (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2023-R08, Class 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.856% (SOFR 30A + 1.50%), due 10/25/43 | &nbsp;&nbsp;&nbsp;$358986 | &nbsp;&nbsp;$359322 |
| &nbsp;&nbsp;&nbsp;Series 2021-R03, Class 1M2 |  |  |
| &nbsp;&nbsp;&nbsp;6.006% (SOFR 30A + 1.65%), due 12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 664000 | &nbsp;&nbsp;&nbsp;&nbsp; 667008 |
| &nbsp;&nbsp;&nbsp;Series 2023-R06, Class 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;6.056% (SOFR 30A + 1.70%), due 7/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405216 | &nbsp;&nbsp;&nbsp;&nbsp; 406479 |
| &nbsp;&nbsp;&nbsp;Series 2022-R05, Class 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;6.256% (SOFR 30A + 1.90%), due 4/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153692 |
| &nbsp;&nbsp;&nbsp;Series 2023-R07, Class 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;6.298% (SOFR 30A + 1.95%), due 9/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177187 |
| &nbsp;&nbsp;&nbsp;Series 2021-R02, Class 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;6.356% (SOFR 30A + 2.00%), due 11/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1763592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784808 |
| &nbsp;&nbsp;&nbsp;Series 2023-R04, Class 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;6.648% (SOFR 30A + 2.30%), due 5/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599711 |
| &nbsp;&nbsp;&nbsp;Series 2022-R09, Class 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;6.848% (SOFR 30A + 2.50%), due 9/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544196 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;7.356% (SOFR 30A + 3.00%), due 1/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720339 |
| &nbsp;&nbsp;&nbsp;Series 2022-R05, Class 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;7.356% (SOFR 30A + 3.00%), due 4/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534935 |
| &nbsp;&nbsp;&nbsp;Series 2022-R01, Class 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;7.506% (SOFR 30A + 3.15%), due 12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819248 |
| FHLMC STACR REMIC Trust (a)(d) | FHLMC STACR REMIC Trust (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA7, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.206% (SOFR 30A + 0.85%), due 11/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157261 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA4, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.306% (SOFR 30A + 0.95%), due 12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759050 |
| &nbsp;&nbsp;&nbsp;Series 2024-DNA3, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.356% (SOFR 30A + 1.00%), due 10/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161891 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA1, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.406% (SOFR 30A + 1.05%), due 1/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494789 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA3, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.47% (SOFR 30A + 1.10%), due 9/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391235 |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.506% (SOFR 30A + 1.15%), due 2/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210336 |
| &nbsp;&nbsp;&nbsp;Series 2024-DNA2, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.556% (SOFR 30A + 1.20%), due 5/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627331 |
| &nbsp;&nbsp;&nbsp;Series 2025-DNA2, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.556% (SOFR 30A + 1.20%), due 5/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317479 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA2, Class M1A |  |  |
| &nbsp;&nbsp;&nbsp;5.656% (SOFR 30A + 1.30%), due 2/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77432 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA6, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;5.856% (SOFR 30A + 1.50%), due 10/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271679 |
| &nbsp;&nbsp;&nbsp;Series 2023-HQA3, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;6.206% (SOFR 30A + 1.85%), due 11/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358458 |
| &nbsp;&nbsp;&nbsp;Series 2023-HQA2, Class M1A |  |  |
| &nbsp;&nbsp;&nbsp;6.356% (SOFR 30A + 2.00%), due 6/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35315 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| FHLMC STACR REMIC Trust (a)(d) | FHLMC STACR REMIC Trust (a)(d) |  |
| &nbsp;&nbsp;&nbsp;Series 2023-DNA2, Class M1A |  |  |
| &nbsp;&nbsp;&nbsp;6.448% (SOFR 30A + 2.10%), due 4/25/43 | &nbsp;&nbsp;&nbsp;$247178 | &nbsp;&nbsp;$250570 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA3, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;6.456% (SOFR 30A + 2.10%), due 9/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337312 | &nbsp;&nbsp;&nbsp;&nbsp; 339103 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M1A |  |  |
| &nbsp;&nbsp;&nbsp;6.456% (SOFR 30A + 2.10%), due 3/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379582 | &nbsp;&nbsp;&nbsp;&nbsp; 381362 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA3, Class M1A |  |  |
| &nbsp;&nbsp;&nbsp;6.656% (SOFR 30A + 2.30%), due 8/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228379 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA4, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;6.706% (SOFR 30A + 2.35%), due 12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428649 |
| Finance of America Structured Securities Trust | Finance of America Structured Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-S1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 2/25/75 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654562 |
| Flagstar Mortgage Trust | Flagstar Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-13IN, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/30/51 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554973 |
| GCAT Trust | GCAT Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2023-INV1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 8/25/53 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121030 |
| Homeward Opportunities Fund Trust (a)(b) | Homeward Opportunities Fund Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-RRTL2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.237%, due 9/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601266 |
| &nbsp;&nbsp;&nbsp;Series 2025-RRTL1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.476%, due 3/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1348000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354832 |
| &nbsp;&nbsp;&nbsp;Series 2024-RRTL2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.989%, due 9/25/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768865 |
| &nbsp;&nbsp;&nbsp;Series 2024-RTL1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;7.12%, due 7/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732493 |
| J.P. Morgan Mortgage Trust | J.P. Morgan Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-5MPR, Class A1D |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 11/25/55 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633382 |
| LHOME Mortgage Trust (a)(b) | LHOME Mortgage Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-RTL3, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.239%, due 8/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551464 |
| &nbsp;&nbsp;&nbsp;Series 2024-RTL4, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.921%, due 7/25/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1651926 |
| &nbsp;&nbsp;&nbsp;Series 2024-RTL3, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;6.90%, due 5/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546717 |
| &nbsp;&nbsp;&nbsp;Series 2024-RTL2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;7.128%, due 3/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425090 |
| Mello Mortgage Capital Acceptance (a) | Mello Mortgage Capital Acceptance (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-SD1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/25/54 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475740 |
| &nbsp;&nbsp;&nbsp;Series 2021-INV2, Class A11 |  |  |
| &nbsp;&nbsp;&nbsp;5.00% (SOFR 30A + 0.95%), due 8/25/51 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514713 |
| &nbsp;&nbsp;&nbsp;Series 2021-INV3, Class A11 |  |  |
| &nbsp;&nbsp;&nbsp;5.00% (SOFR 30A + 0.95%), due 10/25/51 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646922 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-SPL1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 2/25/65 (a)(c) | &nbsp;&nbsp;&nbsp;$724000 | &nbsp;&nbsp;$706789 |
| New Residential Mortgage Loan Trust (a) | New Residential Mortgage Loan Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2018-2A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 2/25/58 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86534 | &nbsp;&nbsp;&nbsp;&nbsp; 85654 |
| &nbsp;&nbsp;&nbsp;Series 2024-NQM2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.117%, due 9/25/64 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 945647 | &nbsp;&nbsp;&nbsp;&nbsp; 947000 |
| &nbsp;&nbsp;&nbsp;Series 2024-RTL2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.443%, due 9/25/39 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630744 |
| OBX Trust (a)(c) | OBX Trust (a)(c) |  |
| &nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208720 |
| &nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A18 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549826 |
| PRET Trust (a)(b) | PRET Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888524 |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 7/25/69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810967 |
| PRPM LLC (a)(b) | PRPM LLC (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-RPL4, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1151176 |
| &nbsp;&nbsp;&nbsp;Series 2024-RCF2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, due 3/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320777 |
| &nbsp;&nbsp;&nbsp;Series 2025-RCF4, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674127 |
| RCKT Mortgage Trust (a) | RCKT Mortgage Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A21 |  |  |
| &nbsp;&nbsp;&nbsp;5.00% (SOFR 30A + 0.80%), due 7/25/51 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458733 |
| &nbsp;&nbsp;&nbsp;Series 2023-CES1, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;6.515%, due 6/25/43 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262797 |
| Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-RTL6, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;7.439%, due 7/25/30 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247452 |
| Seasoned Loans Structured Transaction Trust | Seasoned Loans Structured Transaction Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 9/25/60 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148490 |
| Sequoia Mortgage Trust (a) | Sequoia Mortgage Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2013-5, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 5/25/43 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121381 |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class A19 |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/25/50 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42256 |
| Toorak Mortgage Trust | Toorak Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-RRTL1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.524%, due 2/25/40 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513363 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| UWM Mortgage Trust | UWM Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-INV1, Class A9 |  |  |
| &nbsp;&nbsp;&nbsp;5.00% (SOFR 30A + 0.90%), due 8/25/51 (a)(d) | &nbsp;&nbsp;&nbsp;$675527 | &nbsp;&nbsp;$628039 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44590086 |
| Total Mortgage-Backed Securities<br> (Cost $115,845,367) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116179777 |
| **U.S. Government & Federal Agencies 13.0%** | **U.S. Government & Federal Agencies 13.0%** | **U.S. Government & Federal Agencies 13.0%** |
| **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 1.8%** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 1.8%** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 1.8%** |
| FHLMC Gold Pools, 30 Year | FHLMC Gold Pools, 30 Year | FHLMC Gold Pools, 30 Year |
| &nbsp;&nbsp;&nbsp;4.00%, due 9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79041 |
| FHLMC Gold Pools, Other | FHLMC Gold Pools, Other | FHLMC Gold Pools, Other |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226608 |
| &nbsp;&nbsp;&nbsp;4.50%, due 3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328373 |
| UMBS Pool, 15 Year | UMBS Pool, 15 Year | UMBS Pool, 15 Year |
| &nbsp;&nbsp;&nbsp;2.50%, due 12/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445396 |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86364 |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122652 |
| &nbsp;&nbsp;&nbsp;2.50%, due 6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208470 |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347973 |
| &nbsp;&nbsp;&nbsp;3.00%, due 9/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91866 |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34221 |
| &nbsp;&nbsp;&nbsp;3.00%, due 1/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55238 |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56318 |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125101 |
| UMBS Pool, 30 Year | UMBS Pool, 30 Year | UMBS Pool, 30 Year |
| &nbsp;&nbsp;&nbsp;2.50%, due 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41961 |
| &nbsp;&nbsp;&nbsp;2.50%, due 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17940 |
| &nbsp;&nbsp;&nbsp;2.50%, due 9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80101 |
| &nbsp;&nbsp;&nbsp;2.50%, due 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487447 |
| &nbsp;&nbsp;&nbsp;2.50%, due 6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851219 |
| &nbsp;&nbsp;&nbsp;2.50%, due 8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119576 |
| &nbsp;&nbsp;&nbsp;2.50%, due 9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1902391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628437 |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2319169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978472 |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627165 |
| &nbsp;&nbsp;&nbsp;2.50%, due 1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112196 |
| &nbsp;&nbsp;&nbsp;2.50%, due 1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176229 |
| &nbsp;&nbsp;&nbsp;2.50%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268710 |
| &nbsp;&nbsp;&nbsp;2.50%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9665 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44407 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392917 |
| &nbsp;&nbsp;&nbsp;2.50%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532646 |
| &nbsp;&nbsp;&nbsp;2.50%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579472 |
| &nbsp;&nbsp;&nbsp;3.00%, due 8/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32854 |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31455 |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77879 |
| &nbsp;&nbsp;&nbsp;3.00%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148721 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities)** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities)** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities)** |
| UMBS Pool, 30 Year | UMBS Pool, 30 Year | UMBS Pool, 30 Year |
| &nbsp;&nbsp;&nbsp;3.00%, due 2/1/52 | &nbsp;&nbsp;&nbsp;$110530 | &nbsp;&nbsp;$98602 |
| &nbsp;&nbsp;&nbsp;3.00%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158298 | &nbsp;&nbsp;&nbsp;&nbsp; 141176 |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1348274 | &nbsp;&nbsp;&nbsp;&nbsp; 1196770 |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64133 | &nbsp;&nbsp;&nbsp;&nbsp; 57406 |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1913286 | &nbsp;&nbsp;&nbsp;&nbsp; 1695563 |
| &nbsp;&nbsp;&nbsp;3.50%, due 7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70186 | &nbsp;&nbsp;&nbsp;&nbsp; 65675 |
| &nbsp;&nbsp;&nbsp;3.50%, due 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 539632 | &nbsp;&nbsp;&nbsp;&nbsp; 505146 |
| &nbsp;&nbsp;&nbsp;3.50%, due 2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116169 |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35103 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45119 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153377 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150818 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143469 |
| &nbsp;&nbsp;&nbsp;3.50%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308233 |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18558 |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73146 |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486 |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131177 |
| &nbsp;&nbsp;&nbsp;4.00%, due 5/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274237 |
| &nbsp;&nbsp;&nbsp;4.00%, due 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24368 |
| &nbsp;&nbsp;&nbsp;4.00%, due 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299379 |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294193 |
| &nbsp;&nbsp;&nbsp;4.50%, due 3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95503 |
| &nbsp;&nbsp;&nbsp;4.50%, due 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128473 |
| &nbsp;&nbsp;&nbsp;4.50%, due 6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23287 |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160146 |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29931 |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157433 |
| &nbsp;&nbsp;&nbsp;4.50%, due 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26944 |
| &nbsp;&nbsp;&nbsp;4.50%, due 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110449 |
| &nbsp;&nbsp;&nbsp;4.50%, due 9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861647 |
| &nbsp;&nbsp;&nbsp;4.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16724 |
| &nbsp;&nbsp;&nbsp;5.00%, due 9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8096 |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21751 |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657119 |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35013 |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40194 |
| &nbsp;&nbsp;&nbsp;5.00%, due 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144330 |
| &nbsp;&nbsp;&nbsp;5.00%, due 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138283 |
| &nbsp;&nbsp;&nbsp;5.00%, due 4/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160459 |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329225 |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199798 |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28163 |
| &nbsp;&nbsp;&nbsp;5.00%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55166 |
| &nbsp;&nbsp;&nbsp;5.00%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40238 |
| &nbsp;&nbsp;&nbsp;5.00%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137030 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities)** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities)** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities)** |
| UMBS Pool, 30 Year | UMBS Pool, 30 Year | UMBS Pool, 30 Year |
| &nbsp;&nbsp;&nbsp;5.00%, due 6/1/53 | &nbsp;&nbsp;&nbsp;$110231 | &nbsp;&nbsp;$109427 |
| &nbsp;&nbsp;&nbsp;5.00%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128883 | &nbsp;&nbsp;&nbsp;&nbsp; 128114 |
| &nbsp;&nbsp;&nbsp;5.50%, due 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365530 | &nbsp;&nbsp;&nbsp;&nbsp; 372678 |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23318 | &nbsp;&nbsp;&nbsp;&nbsp; 23781 |
| &nbsp;&nbsp;&nbsp;5.50%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265524 | &nbsp;&nbsp;&nbsp;&nbsp; 271108 |
| &nbsp;&nbsp;&nbsp;5.50%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21025 | &nbsp;&nbsp;&nbsp;&nbsp; 21538 |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69484 | &nbsp;&nbsp;&nbsp;&nbsp; 71081 |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78977 |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340739 |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199524 |
| &nbsp;&nbsp;&nbsp;5.50%, due 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363207 |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239361 |
| &nbsp;&nbsp;&nbsp;5.50%, due 12/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2785055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2815076 |
| &nbsp;&nbsp;&nbsp;5.50%, due 5/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466667 |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129910 |
| &nbsp;&nbsp;&nbsp;6.00%, due 4/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243044 |
| &nbsp;&nbsp;&nbsp;6.00%, due 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2762159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2855295 |
| &nbsp;&nbsp;&nbsp;6.00%, due 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2053957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2142705 |
| &nbsp;&nbsp;&nbsp;6.00%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1411695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455587 |
| &nbsp;&nbsp;&nbsp;6.50%, due 11/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946663 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35158818 |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities) 3.7%** | **Federal National Mortgage Association (Mortgage Pass-Through Securities) 3.7%** | **Federal National Mortgage Association (Mortgage Pass-Through Securities) 3.7%** |
| FNMA, Other | FNMA, Other | FNMA, Other |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2731880 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741924 |
| &nbsp;&nbsp;&nbsp;3.00%, due 2/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9507 |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50500 |
| &nbsp;&nbsp;&nbsp;3.00%, due 2/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588865 |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/1/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9272 |
| &nbsp;&nbsp;&nbsp;3.50%, due 8/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724994 |
| &nbsp;&nbsp;&nbsp;4.50%, due 6/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88585 |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751508 |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148444 |
| UMBS, 15 Year | UMBS, 15 Year | UMBS, 15 Year |
| &nbsp;&nbsp;&nbsp;2.50%, due 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126823 |
| &nbsp;&nbsp;&nbsp;2.50%, due 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004137 |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46268 |
| &nbsp;&nbsp;&nbsp;3.00%, due 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10818 |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12467 |
| UMBS, 30 Year | UMBS, 30 Year | UMBS, 30 Year |
| &nbsp;&nbsp;&nbsp;2.00%, due 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150616 |
| &nbsp;&nbsp;&nbsp;2.50%, due 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84226 |
| &nbsp;&nbsp;&nbsp;2.50%, due 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3176605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734930 |
| &nbsp;&nbsp;&nbsp;2.50%, due 1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563009 |
| &nbsp;&nbsp;&nbsp;2.50%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3153684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2697964 |
| &nbsp;&nbsp;&nbsp;2.50%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2990319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2553742 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** |
| UMBS, 30 Year | UMBS, 30 Year | UMBS, 30 Year |
| &nbsp;&nbsp;&nbsp;2.50%, due 2/1/52 | &nbsp;&nbsp;&nbsp;$1581041 | &nbsp;&nbsp;$1340573 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487365 | &nbsp;&nbsp;&nbsp;&nbsp; 419496 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1326125 | &nbsp;&nbsp;&nbsp;&nbsp; 1139087 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39034 | &nbsp;&nbsp;&nbsp;&nbsp; 33654 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96106 | &nbsp;&nbsp;&nbsp;&nbsp; 82552 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89282 | &nbsp;&nbsp;&nbsp;&nbsp; 76691 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1295110 | &nbsp;&nbsp;&nbsp;&nbsp; 1112453 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100383 |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1258110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073050 |
| &nbsp;&nbsp;&nbsp;2.50%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3283628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2809998 |
| &nbsp;&nbsp;&nbsp;3.00%, due 1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33484 |
| &nbsp;&nbsp;&nbsp;3.00%, due 3/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298859 |
| &nbsp;&nbsp;&nbsp;3.00%, due 8/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114190 |
| &nbsp;&nbsp;&nbsp;3.00%, due 9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547290 |
| &nbsp;&nbsp;&nbsp;3.00%, due 9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27697 |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891600 |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91803 |
| &nbsp;&nbsp;&nbsp;3.00%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61698 |
| &nbsp;&nbsp;&nbsp;3.00%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466998 |
| &nbsp;&nbsp;&nbsp;3.00%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521219 |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464470 |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397104 |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990540 |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63913 |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652822 |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276311 |
| &nbsp;&nbsp;&nbsp;3.50%, due 8/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50024 |
| &nbsp;&nbsp;&nbsp;3.50%, due 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14871 |
| &nbsp;&nbsp;&nbsp;3.50%, due 12/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19737 |
| &nbsp;&nbsp;&nbsp;3.50%, due 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127403 |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26818 |
| &nbsp;&nbsp;&nbsp;3.50%, due 1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132960 |
| &nbsp;&nbsp;&nbsp;3.50%, due 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362711 |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2296322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2134071 |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237839 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74203 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213390 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389133 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71899 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133824 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302362 |
| &nbsp;&nbsp;&nbsp;3.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523958 |
| &nbsp;&nbsp;&nbsp;3.50%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210629 |
| &nbsp;&nbsp;&nbsp;3.50%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874925 |
| &nbsp;&nbsp;&nbsp;3.50%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320808 |
| &nbsp;&nbsp;&nbsp;3.50%, due 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762792 |
| &nbsp;&nbsp;&nbsp;3.50%, due 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186829 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** |
| UMBS, 30 Year | UMBS, 30 Year | UMBS, 30 Year |
| &nbsp;&nbsp;&nbsp;3.50%, due 7/1/52 | &nbsp;&nbsp;&nbsp;$71550 | &nbsp;&nbsp;$66831 |
| &nbsp;&nbsp;&nbsp;3.50%, due 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141231 | &nbsp;&nbsp;&nbsp;&nbsp; 131287 |
| &nbsp;&nbsp;&nbsp;4.00%, due 5/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35447 | &nbsp;&nbsp;&nbsp;&nbsp; 33947 |
| &nbsp;&nbsp;&nbsp;4.00%, due 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307326 | &nbsp;&nbsp;&nbsp;&nbsp; 296821 |
| &nbsp;&nbsp;&nbsp;4.00%, due 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546842 | &nbsp;&nbsp;&nbsp;&nbsp; 528381 |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93631 | &nbsp;&nbsp;&nbsp;&nbsp; 90489 |
| &nbsp;&nbsp;&nbsp;4.00%, due 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282565 | &nbsp;&nbsp;&nbsp;&nbsp; 271312 |
| &nbsp;&nbsp;&nbsp;4.00%, due 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39908 |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131726 |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104974 |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91912 |
| &nbsp;&nbsp;&nbsp;4.00%, due 3/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21878 |
| &nbsp;&nbsp;&nbsp;4.00%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470654 |
| &nbsp;&nbsp;&nbsp;4.50%, due 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40639 |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119306 |
| &nbsp;&nbsp;&nbsp;4.50%, due 3/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197482 |
| &nbsp;&nbsp;&nbsp;4.50%, due 3/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104251 |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57054 |
| &nbsp;&nbsp;&nbsp;4.50%, due 6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16029 |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25220 |
| &nbsp;&nbsp;&nbsp;4.50%, due 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34978 |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577542 |
| &nbsp;&nbsp;&nbsp;4.50%, due 12/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768972 |
| &nbsp;&nbsp;&nbsp;4.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19911 |
| &nbsp;&nbsp;&nbsp;4.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24935 |
| &nbsp;&nbsp;&nbsp;4.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62749 |
| &nbsp;&nbsp;&nbsp;4.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57009 |
| &nbsp;&nbsp;&nbsp;4.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21063 |
| &nbsp;&nbsp;&nbsp;4.50%, due 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35469 |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102482 |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385526 |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372379 |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319734 |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81024 |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157274 |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352023 |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198533 |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69425 |
| &nbsp;&nbsp;&nbsp;5.00%, due 2/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83197 |
| &nbsp;&nbsp;&nbsp;5.00%, due 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41802 |
| &nbsp;&nbsp;&nbsp;5.00%, due 4/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92338 |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50323 |
| &nbsp;&nbsp;&nbsp;5.00%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71886 |
| &nbsp;&nbsp;&nbsp;5.00%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55438 |
| &nbsp;&nbsp;&nbsp;5.00%, due 8/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59632 |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13504 |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7699 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** | **Federal National Mortgage Association (Mortgage Pass-Through Securities)** |
| UMBS, 30 Year | UMBS, 30 Year | UMBS, 30 Year |
| &nbsp;&nbsp;&nbsp;5.50%, due 5/1/53 | &nbsp;&nbsp;&nbsp;$7113 | &nbsp;&nbsp;$7286 |
| &nbsp;&nbsp;&nbsp;5.50%, due 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13806 | &nbsp;&nbsp;&nbsp;&nbsp; 14144 |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29933 | &nbsp;&nbsp;&nbsp;&nbsp; 30621 |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79330 | &nbsp;&nbsp;&nbsp;&nbsp; 81153 |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40517 | &nbsp;&nbsp;&nbsp;&nbsp; 41449 |
| &nbsp;&nbsp;&nbsp;5.50%, due 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3062329 | &nbsp;&nbsp;&nbsp;&nbsp; 3129071 |
| &nbsp;&nbsp;&nbsp;5.50%, due 11/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 488990 | &nbsp;&nbsp;&nbsp;&nbsp; 502561 |
| &nbsp;&nbsp;&nbsp;5.50%, due 3/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940730 |
| &nbsp;&nbsp;&nbsp;6.00%, due 2/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16128 |
| &nbsp;&nbsp;&nbsp;6.00%, due 1/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207523 |
| &nbsp;&nbsp;&nbsp;6.00%, due 3/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050459 |
| &nbsp;&nbsp;&nbsp;6.00%, due 8/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706765 |
| UMBS, Single Family, 30 Year TBA (k) | UMBS, Single Family, 30 Year TBA (k) | UMBS, Single Family, 30 Year TBA (k) |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7056000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5943548 |
| &nbsp;&nbsp;&nbsp;3.50%, due 10/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368941 |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6539000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6484446 |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7631000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7693864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74265237 |
| **Government National Mortgage Association (Mortgage Pass-Through Securities) 1.1%** | **Government National Mortgage Association (Mortgage Pass-Through Securities) 1.1%** | **Government National Mortgage Association (Mortgage Pass-Through Securities) 1.1%** |
| GNMA I, 30 Year | GNMA I, 30 Year | GNMA I, 30 Year |
| &nbsp;&nbsp;&nbsp;4.00%, due 1/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289068 |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335211 |
| GNMA I, Single Family, 30 Year | GNMA I, Single Family, 30 Year | GNMA I, Single Family, 30 Year |
| &nbsp;&nbsp;&nbsp;4.00%, due 7/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226209 |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30087 |
| &nbsp;&nbsp;&nbsp;4.00%, due 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15608 |
| &nbsp;&nbsp;&nbsp;4.00%, due 12/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48136 |
| GNMA II, 30 Year | GNMA II, 30 Year | GNMA II, 30 Year |
| &nbsp;&nbsp;&nbsp;2.50%, due 1/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527064 |
| GNMA II, Single Family, 30 Year | GNMA II, Single Family, 30 Year | GNMA II, Single Family, 30 Year |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829879 |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/15/55 TBA (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4554556 |
| &nbsp;&nbsp;&nbsp;3.00%, due 11/20/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510774 |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1602464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433179 |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965072 |
| &nbsp;&nbsp;&nbsp;3.00%, due 8/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2477441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2213758 |
| &nbsp;&nbsp;&nbsp;3.50%, due 5/20/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2196126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022210 |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12374 |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38269 |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11952 |
| &nbsp;&nbsp;&nbsp;4.00%, due 6/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139601 |
| &nbsp;&nbsp;&nbsp;4.00%, due 10/15/55 TBA (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2933720 |
| &nbsp;&nbsp;&nbsp;4.50%, due 2/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29922 |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18934 |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55611 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Government National Mortgage Association (Mortgage Pass-Through Securities)** | **Government National Mortgage Association (Mortgage Pass-Through Securities)** | **Government National Mortgage Association (Mortgage Pass-Through Securities)** |
| GNMA II, Single Family, 30 Year | GNMA II, Single Family, 30 Year | GNMA II, Single Family, 30 Year |
| &nbsp;&nbsp;&nbsp;5.00%, due 8/20/48 | &nbsp;&nbsp;&nbsp;$167261 | &nbsp;&nbsp;$169504 |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/15/55 TBA (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1144836 | &nbsp;&nbsp;&nbsp;&nbsp; 1138676 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21549374 |
| **United States Treasury Bonds 2.7%** | **United States Treasury Bonds 2.7%** | **United States Treasury Bonds 2.7%** |
| U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
| &nbsp;&nbsp;&nbsp;4.75%, due 5/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18615200 | &nbsp;&nbsp;&nbsp;&nbsp; 18673373 |
| &nbsp;&nbsp;&nbsp;4.875%, due 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34214000 | &nbsp;&nbsp;&nbsp;&nbsp; 34978469 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53651842 |
| **United States Treasury Notes 3.7%** | **United States Treasury Notes 3.7%** | **United States Treasury Notes 3.7%** |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp;&nbsp;3.375%, due 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10514000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10442538 |
| &nbsp;&nbsp;&nbsp;3.625%, due 9/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53517000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53245234 |
| &nbsp;&nbsp;&nbsp;3.875%, due 5/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3201090 |
| &nbsp;&nbsp;&nbsp;3.875%, due 9/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346567 |
| &nbsp;&nbsp;&nbsp;4.25%, due 8/15/35 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4372400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4407926 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72643355 |
| Total U.S. Government & Federal Agencies<br> (Cost $258,550,832) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257268626 |
| Total Long-Term Bonds<br> (Cost $697,964,239) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701978597 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Common Stocks 63.5%** | **Common Stocks 63.5%** | **Common Stocks 63.5%** |
| **Aerospace & Defense 1.4%** | **Aerospace & Defense 1.4%** | **Aerospace & Defense 1.4%** |
| GE Aerospace | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18730858 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9696706 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28427564 |
| **Banks 2.0%** | **Banks 2.0%** | **Banks 2.0%** |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30228603 |
| PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9480279 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39708882 |
| **Beverages 0.5%** | **Beverages 0.5%** | **Beverages 0.5%** |
| Monster Beverage Corp. (l) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9672380 |
| **Biotechnology 1.7%** | **Biotechnology 1.7%** | **Biotechnology 1.7%** |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15983669 |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8562512 |
| Vertex Pharmaceuticals, Inc. (l) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9093881 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33640062 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Broadline Retail 3.0%** | **Broadline Retail 3.0%** | **Broadline Retail 3.0%** |
| Amazon.com, Inc. (l) | &nbsp;&nbsp;&nbsp;&nbsp; 265682 | &nbsp;&nbsp;$58335797 |
| **Building Products 0.6%** | **Building Products 0.6%** | **Building Products 0.6%** |
| Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp; 29787 | &nbsp;&nbsp;&nbsp;&nbsp; 12568923 |
| **Capital Markets 3.6%** | **Capital Markets 3.6%** | **Capital Markets 3.6%** |
| Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 81032 | &nbsp;&nbsp;&nbsp;&nbsp; 7736125 |
| CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 46138 | &nbsp;&nbsp;&nbsp;&nbsp; 12466026 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 19039 | &nbsp;&nbsp;&nbsp;&nbsp; 15161708 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 70825 | &nbsp;&nbsp;&nbsp;&nbsp; 11932596 |
| Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11813 | &nbsp;&nbsp;&nbsp;&nbsp; 5628658 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 115495 | &nbsp;&nbsp;&nbsp;&nbsp; 18359085 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71284198 |
| **Chemicals 0.3%** | **Chemicals 0.3%** | **Chemicals 0.3%** |
| Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 97626 | &nbsp;&nbsp;&nbsp;&nbsp; 6602446 |
| **Communications Equipment 0.4%** | **Communications Equipment 0.4%** | **Communications Equipment 0.4%** |
| Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16857 | &nbsp;&nbsp;&nbsp;&nbsp; 7708538 |
| **Consumer Finance 1.6%** | **Consumer Finance 1.6%** | **Consumer Finance 1.6%** |
| American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32273994 |
| **Consumer Staples Distribution & Retail 0.5%** | **Consumer Staples Distribution & Retail 0.5%** | **Consumer Staples Distribution & Retail 0.5%** |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10072706 |
| **Electrical Equipment 0.7%** | **Electrical Equipment 0.7%** | **Electrical Equipment 0.7%** |
| Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13912369 |
| **Electronic Equipment, Instruments & Components 0.9%** | **Electronic Equipment, Instruments & Components 0.9%** | **Electronic Equipment, Instruments & Components 0.9%** |
| Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16816635 |
| **Entertainment 2.0%** | **Entertainment 2.0%** | **Entertainment 2.0%** |
| Netflix, Inc. (l) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20231775 |
| Walt Disney Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20001089 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40232864 |
| **Financial Services 2.3%** | **Financial Services 2.3%** | **Financial Services 2.3%** |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44804595 |
| **Ground Transportation 1.2%** | **Ground Transportation 1.2%** | **Ground Transportation 1.2%** |
| Uber Technologies, Inc. (l) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15256378 |
| Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7914141 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23170519 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Equipment & Supplies 1.8%** | **Health Care Equipment & Supplies 1.8%** | **Health Care Equipment & Supplies 1.8%** |
| Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp; 103445 | &nbsp;&nbsp;$13855423 |
| Intuitive Surgical, Inc. (l) | &nbsp;&nbsp;&nbsp;&nbsp; 21868 | &nbsp;&nbsp;&nbsp;&nbsp; 9780026 |
| Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 30325 | &nbsp;&nbsp;&nbsp;&nbsp; 11210243 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34845692 |
| **Health Care Providers & Services 0.5%** | **Health Care Providers & Services 0.5%** | **Health Care Providers & Services 0.5%** |
| HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22982 | &nbsp;&nbsp;&nbsp;&nbsp; 9794928 |
| **Hotels, Restaurants & Leisure 2.3%** | **Hotels, Restaurants & Leisure 2.3%** | **Hotels, Restaurants & Leisure 2.3%** |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3818 | &nbsp;&nbsp;&nbsp;&nbsp; 20614413 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 43535 | &nbsp;&nbsp;&nbsp;&nbsp; 11294721 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 44335 | &nbsp;&nbsp;&nbsp;&nbsp; 14345919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46255053 |
| **Independent Power and Renewable Electricity Producers 0.3%** | **Independent Power and Renewable Electricity Producers 0.3%** | **Independent Power and Renewable Electricity Producers 0.3%** |
| Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 30645 | &nbsp;&nbsp;&nbsp;&nbsp; 6003968 |
| **Insurance 1.6%** | **Insurance 1.6%** | **Insurance 1.6%** |
| Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 40302 | &nbsp;&nbsp;&nbsp;&nbsp; 8122062 |
| Progressive Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 96494 | &nbsp;&nbsp;&nbsp;&nbsp; 23829193 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31951255 |
| **Interactive Media & Services 5.6%** | **Interactive Media & Services 5.6%** | **Interactive Media & Services 5.6%** |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66405369 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44931571 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111336940 |
| **IT Services 0.4%** | **IT Services 0.4%** | **IT Services 0.4%** |
| Accenture plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7812781 |
| **Life Sciences Tools & Services 1.3%** | **Life Sciences Tools & Services 1.3%** | **Life Sciences Tools & Services 1.3%** |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11616251 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13333685 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24949936 |
| **Machinery 0.4%** | **Machinery 0.4%** | **Machinery 0.4%** |
| Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8245770 |
| **Oil, Gas & Consumable Fuels 0.8%** | **Oil, Gas & Consumable Fuels 0.8%** | **Oil, Gas & Consumable Fuels 0.8%** |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14631269 |
| **Pharmaceuticals 2.3%** | **Pharmaceuticals 2.3%** | **Pharmaceuticals 2.3%** |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24284001 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14167015 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7141148 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45592164 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Professional Services 0.4%** | **Professional Services 0.4%** | **Professional Services 0.4%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24241 | &nbsp;&nbsp;$7114734 |
| **Semiconductors & Semiconductor Equipment 10.4%** | **Semiconductors & Semiconductor Equipment 10.4%** | **Semiconductors & Semiconductor Equipment 10.4%** |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 142881 | &nbsp;&nbsp;&nbsp;&nbsp; 47137871 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16727 | &nbsp;&nbsp;&nbsp;&nbsp; 18041742 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 135653 | &nbsp;&nbsp;&nbsp;&nbsp; 18163937 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 657773 | &nbsp;&nbsp;&nbsp;&nbsp; 122727286 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206070836 |
| **Software 7.7%** | **Software 7.7%** | **Software 7.7%** |
| Adobe, Inc. (l) | &nbsp;&nbsp;&nbsp;&nbsp; 17905 | &nbsp;&nbsp;&nbsp;&nbsp; 6315989 |
| Cadence Design Systems, Inc. (l) | &nbsp;&nbsp;&nbsp;&nbsp; 29213 | &nbsp;&nbsp;&nbsp;&nbsp; 10261358 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18342 | &nbsp;&nbsp;&nbsp;&nbsp; 12525935 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 189645 | &nbsp;&nbsp;&nbsp;&nbsp; 98226628 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 52751 | &nbsp;&nbsp;&nbsp;&nbsp; 14835691 |
| ServiceNow, Inc. (l) | &nbsp;&nbsp;&nbsp;&nbsp; 11878 | &nbsp;&nbsp;&nbsp;&nbsp; 10931086 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153096687 |
| **Specialty Retail 1.4%** | **Specialty Retail 1.4%** | **Specialty Retail 1.4%** |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17469362 |
| TJX Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9908361 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27377723 |
| **Technology Hardware, Storage & Peripherals 2.7%** | **Technology Hardware, Storage & Peripherals 2.7%** | **Technology Hardware, Storage & Peripherals 2.7%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53280818 |
| **Textiles, Apparel & Luxury Goods 0.5%** | **Textiles, Apparel & Luxury Goods 0.5%** | **Textiles, Apparel & Luxury Goods 0.5%** |
| NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10406993 |
| **Tobacco 0.4%** | **Tobacco 0.4%** | **Tobacco 0.4%** |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8601304 |
| Total Common Stocks<br> (Cost $666,491,676) |  | &nbsp;&nbsp;&nbsp;&nbsp;1256601323 |
| **Short-Term Investments 3.1%** | **Short-Term Investments 3.1%** | **Short-Term Investments 3.1%** |
| **Affiliated Investment Company 3.0%** | **Affiliated Investment Company 3.0%** | **Affiliated Investment Company 3.0%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (m) | &nbsp;&nbsp;&nbsp;&nbsp;58059689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58059689 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** |
| **Unaffiliated Investment Company 0.1%** | **Unaffiliated Investment Company 0.1%** | **Unaffiliated Investment Company 0.1%** |
| Invesco Government & Agency Portfolio, 4.131% (m)(n) | &nbsp;&nbsp;&nbsp;&nbsp; 2559255 | &nbsp;&nbsp;$2559255 |
| Total Short-Term Investments<br> (Cost $60,618,944) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60618944 |
| Total Investments<br> (Cost $1,425,074,859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102.0% | &nbsp;&nbsp;&nbsp;&nbsp;2019198864 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39219491) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1979979373 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Step coupon—Rate shown was the rate in effect as of September 30, 2025. |
| (c) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of September 30, 2025. |
| (d) | Floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (e) | Illiquid security—As of September 30, 2025, the total market value deemed illiquid under procedures approved by the Board of Trustees was $326,384, which represented less than one-tenth of a percent of the Portfolio's net assets. |
| (f) | Restricted security. |
| (g) | Delayed delivery security. |
| (h) | Fixed to floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (i) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $7,637,543; the total market value of collateral held by the Portfolio was $7,895,528. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $5,336,273. The Portfolio received cash collateral with a value of $2,559,255. |
| (j) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of September 30, 2025. |
| (k) | TBA—Security purchased on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount and maturity date will be determined upon settlement. As of September 30, 2025, the total net market value was $29,117,751, which represented 1.5% of the Portfolio's net assets. All or a portion of this security is a part of a mortgage dollar roll agreement. |
| (l) | Non-income producing security. |
| (m) | Current yield as of September 30, 2025. |
| (n) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$43450 | &nbsp;&nbsp;$255522 | &nbsp;&nbsp;$(240912) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$58060 | &nbsp;&nbsp;$1263 | &nbsp;&nbsp;$— | &nbsp;&nbsp;58060 |

---

------

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts<sup>1</sup>:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>2</sup>** |
| **Long Contracts** |  |  |  |  |  |
| U.S. Treasury 2 Year Notes | &nbsp;&nbsp;&nbsp;746 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $155553894 | &nbsp;&nbsp; $155465235 | &nbsp;&nbsp; $(88659) |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 99822380 | &nbsp;&nbsp;&nbsp;&nbsp; 99695321 | &nbsp;&nbsp;&nbsp;&nbsp; (127059) |
| U.S. Treasury Long Bonds | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 20084640 | &nbsp;&nbsp;&nbsp;&nbsp; 20403906 | &nbsp;&nbsp;&nbsp;&nbsp; 319266 |
| U.S. Treasury Ultra Bonds | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 2385248 | &nbsp;&nbsp;&nbsp;&nbsp; 2401250 | &nbsp;&nbsp;&nbsp;&nbsp; 16002 |
| Total Long Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119550 |
| **Short Contracts** |  |  |  |  |  |
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;(162) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (18200522) | &nbsp;&nbsp;&nbsp;&nbsp; (18225000) | &nbsp;&nbsp;&nbsp;&nbsp; (24478) |
| U.S. Treasury 10 Year Ultra Bonds | &nbsp;&nbsp;(104) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (11967683) | &nbsp;&nbsp;&nbsp;&nbsp; (11968125) | &nbsp;&nbsp;&nbsp;&nbsp; (442) |
| Total Short Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24920) |
| Net Unrealized Appreciation |  |  |  |  | &nbsp;&nbsp;$94630 |

---

1. As of September 30, 2025, cash in the amount of $2,520,000 was on deposit with a broker or futures commission merchant for futures transactions.

2. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| CLO—Collateralized Loan Obligation |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| FREMF—Freddie Mac Multifamily |
| GNMA—Government National Mortgage Association |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR—Secured Overnight Financing Rate |
| STACR—Structured Agency Credit Risk |
| TBA—To Be Announced |
| UMBS—Uniform Mortgage Backed Securities |

---

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $103888236 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $103888236 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 211614255 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 211614255 |
| &nbsp;&nbsp;&nbsp;Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13027703 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 13027703 |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 116179777 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 116179777 |
| &nbsp;&nbsp;&nbsp;U.S. Government & Federal Agencies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 257268626 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 257268626 |
| Total Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;701978597 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701978597 |
| Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 1256601323 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1256601323 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 58059689 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 58059689 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 2559255 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2559255 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60618944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60618944 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;1317220267 | &nbsp;&nbsp;&nbsp;&nbsp;701978597 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2019198864 |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; 335268 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 335268 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$1317555535 | &nbsp;&nbsp;$701978597 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2019534132 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(240638) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(240638) |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP Dimensional U.S. Equity Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 100.0%** | **Common Stocks 100.0%** | **Common Stocks 100.0%** |
| **Aerospace & Defense 1.0%** | **Aerospace & Defense 1.0%** | **Aerospace & Defense 1.0%** |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 20122 | &nbsp;&nbsp;$10045104 |
| **Air Freight & Logistics 0.4%** | **Air Freight & Logistics 0.4%** | **Air Freight & Logistics 0.4%** |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 49811 | &nbsp;&nbsp;&nbsp;&nbsp; 4160713 |
| **Automobiles 0.2%** | **Automobiles 0.2%** | **Automobiles 0.2%** |
| General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp; 36566 | &nbsp;&nbsp;&nbsp;&nbsp; 2229429 |
| **Beverages 2.4%** | **Beverages 2.4%** | **Beverages 2.4%** |
| Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 120711 | &nbsp;&nbsp;&nbsp;&nbsp; 8005553 |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 123459 | &nbsp;&nbsp;&nbsp;&nbsp; 17338582 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25344135 |
| **Biotechnology 4.9%** | **Biotechnology 4.9%** | **Biotechnology 4.9%** |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 118234 | &nbsp;&nbsp;&nbsp;&nbsp; 27375900 |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44385 | &nbsp;&nbsp;&nbsp;&nbsp; 12525447 |
| Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 106503 | &nbsp;&nbsp;&nbsp;&nbsp; 11821833 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51723180 |
| **Broadline Retail 0.2%** | **Broadline Retail 0.2%** | **Broadline Retail 0.2%** |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 2182800 |
| **Building Products 0.3%** | **Building Products 0.3%** | **Building Products 0.3%** |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006765 |
| **Capital Markets 2.1%** | **Capital Markets 2.1%** | **Capital Markets 2.1%** |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9534671 |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5222568 |
| Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7068581 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21825820 |
| **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** |
| Sherwin-Williams Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7432471 |
| **Commercial Services & Supplies 0.8%** | **Commercial Services & Supplies 0.8%** | **Commercial Services & Supplies 0.8%** |
| Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523413 |
| Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55331 |
| Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7410171 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7988915 |
| **Communications Equipment 0.7%** | **Communications Equipment 0.7%** | **Communications Equipment 0.7%** |
| Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7303379 |
| **Construction & Engineering 0.0% ‡** | **Construction & Engineering 0.0% ‡** | **Construction & Engineering 0.0% ‡** |
| EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111721 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Consumer Finance 0.5%** | **Consumer Finance 0.5%** | **Consumer Finance 0.5%** |
| American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp; 16417 | &nbsp;&nbsp;$5453071 |
| **Consumer Staples Distribution & Retail 4.0%** | **Consumer Staples Distribution & Retail 4.0%** | **Consumer Staples Distribution & Retail 4.0%** |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 22151 | &nbsp;&nbsp;&nbsp;&nbsp; 20503630 |
| Kroger Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 134423 | &nbsp;&nbsp;&nbsp;&nbsp; 9061454 |
| Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 96212 | &nbsp;&nbsp;&nbsp;&nbsp; 7922096 |
| Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 44327 | &nbsp;&nbsp;&nbsp;&nbsp; 3976132 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41463312 |
| **Distributors 0.1%** | **Distributors 0.1%** | **Distributors 0.1%** |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4203 | &nbsp;&nbsp;&nbsp;&nbsp; 1303224 |
| **Electric Utilities 0.6%** | **Electric Utilities 0.6%** | **Electric Utilities 0.6%** |
| NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 41367 | &nbsp;&nbsp;&nbsp;&nbsp; 6699386 |
| **Electrical Equipment 0.9%** | **Electrical Equipment 0.9%** | **Electrical Equipment 0.9%** |
| Vertiv Holdings Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 62117 | &nbsp;&nbsp;&nbsp;&nbsp; 9370971 |
| **Electronic Equipment, Instruments & Components 0.4%** | **Electronic Equipment, Instruments & Components 0.4%** | **Electronic Equipment, Instruments & Components 0.4%** |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 27434 | &nbsp;&nbsp;&nbsp;&nbsp; 4369687 |
| **Entertainment 1.0%** | **Entertainment 1.0%** | **Entertainment 1.0%** |
| Netflix, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9304818 |
| Warner Music Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743189 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10048007 |
| **Financial Services 7.4%** | **Financial Services 7.4%** | **Financial Services 7.4%** |
| Corpay, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3903501 |
| Equitable Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2438608 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29569019 |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41833388 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77744516 |
| **Food Products 0.3%** | **Food Products 0.3%** | **Food Products 0.3%** |
| Hershey Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2941922 |
| **Ground Transportation 1.2%** | **Ground Transportation 1.2%** | **Ground Transportation 1.2%** |
| Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12326932 |
| **Health Care Equipment & Supplies 0.8%** | **Health Care Equipment & Supplies 0.8%** | **Health Care Equipment & Supplies 0.8%** |
| IDEXX Laboratories, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8575181 |
| **Health Care Providers & Services 0.8%** | **Health Care Providers & Services 0.8%** | **Health Care Providers & Services 0.8%** |
| Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5621477 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Providers & Services** | **Health Care Providers & Services** | **Health Care Providers & Services** |
| DaVita, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 17709 | &nbsp;&nbsp;$2352995 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7974472 |
| **Hotels, Restaurants & Leisure 2.6%** | **Hotels, Restaurants & Leisure 2.6%** | **Hotels, Restaurants & Leisure 2.6%** |
| Carnival Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 40971 | &nbsp;&nbsp;&nbsp;&nbsp; 1184472 |
| Chipotle Mexican Grill, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 113968 | &nbsp;&nbsp;&nbsp;&nbsp; 4466406 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24982 | &nbsp;&nbsp;&nbsp;&nbsp; 4755573 |
| Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26176 | &nbsp;&nbsp;&nbsp;&nbsp; 5595120 |
| Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 70784 | &nbsp;&nbsp;&nbsp;&nbsp; 3807471 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 22291 | &nbsp;&nbsp;&nbsp;&nbsp; 7212922 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27021964 |
| **Household Durables 0.0% ‡** | **Household Durables 0.0% ‡** | **Household Durables 0.0% ‡** |
| NVR, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 88381 |
| **Household Products 2.2%** | **Household Products 2.2%** | **Household Products 2.2%** |
| Clorox Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 6926 | &nbsp;&nbsp;&nbsp;&nbsp; 853976 |
| Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp; 61239 | &nbsp;&nbsp;&nbsp;&nbsp; 4895446 |
| Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 59266 | &nbsp;&nbsp;&nbsp;&nbsp; 7369134 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9835444 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22954000 |
| **Independent Power and Renewable Electricity Producers 1.2%** | **Independent Power and Renewable Electricity Producers 1.2%** | **Independent Power and Renewable Electricity Producers 1.2%** |
| Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12664073 |
| **Industrial Conglomerates 0.0% ‡** | **Industrial Conglomerates 0.0% ‡** | **Industrial Conglomerates 0.0% ‡** |
| 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108316 |
| **Insurance 0.6%** | **Insurance 0.6%** | **Insurance 0.6%** |
| Aon plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466613 |
| Travelers Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3611711 |
| Willis Towers Watson plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182821 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6261145 |
| **Interactive Media & Services 3.8%** | **Interactive Media & Services 3.8%** | **Interactive Media & Services 3.8%** |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40234477 |
| **IT Services 2.5%** | **IT Services 2.5%** | **IT Services 2.5%** |
| Gartner, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3136828 |
| GoDaddy, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2934456 |
| International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19861807 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25933091 |
| **Life Sciences Tools & Services 0.5%** | **Life Sciences Tools & Services 0.5%** | **Life Sciences Tools & Services 0.5%** |
| Medpace Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900850 |
| Waters Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3296111 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5196961 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Machinery 2.3%** | **Machinery 2.3%** | **Machinery 2.3%** |
| Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 35946 | &nbsp;&nbsp;$17151634 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26741 | &nbsp;&nbsp;&nbsp;&nbsp; 6972983 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24124617 |
| **Media 0.1%** | **Media 0.1%** | **Media 0.1%** |
| Charter Communications, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5662 | &nbsp;&nbsp;&nbsp;&nbsp; 1557644 |
| **Metals & Mining 0.1%** | **Metals & Mining 0.1%** | **Metals & Mining 0.1%** |
| Southern Copper Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 8764 | &nbsp;&nbsp;&nbsp;&nbsp; 1063599 |
| **Oil, Gas & Consumable Fuels 3.0%** | **Oil, Gas & Consumable Fuels 3.0%** | **Oil, Gas & Consumable Fuels 3.0%** |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 45362 | &nbsp;&nbsp;&nbsp;&nbsp; 10659162 |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 58558 | &nbsp;&nbsp;&nbsp;&nbsp; 9093472 |
| Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 135718 | &nbsp;&nbsp;&nbsp;&nbsp; 4758273 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 44072 | &nbsp;&nbsp;&nbsp;&nbsp; 7383823 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31894730 |
| **Passenger Airlines 0.1%** | **Passenger Airlines 0.1%** | **Passenger Airlines 0.1%** |
| United Airlines Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6580 | &nbsp;&nbsp;&nbsp;&nbsp; 634970 |
| **Pharmaceuticals 5.2%** | **Pharmaceuticals 5.2%** | **Pharmaceuticals 5.2%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596775 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37471693 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60076 |
| Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5294472 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5908548 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54331564 |
| **Professional Services 2.2%** | **Professional Services 2.2%** | **Professional Services 2.2%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9752125 |
| Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683658 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243172 |
| Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5759467 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5091568 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22529990 |
| **Semiconductors & Semiconductor Equipment 11.1%** | **Semiconductors & Semiconductor Equipment 11.1%** | **Semiconductors & Semiconductor Equipment 11.1%** |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14059551 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13141481 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82742073 |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6413560 |
| QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395937 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116752602 |
| **Software 14.8%** | **Software 14.8%** | **Software 14.8%** |
| Adobe, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11557501 |
| AppLovin Corp., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38137229 |
| Autodesk, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5328597 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Software** | **Software** | **Software** |
| Fortinet, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15061 | &nbsp;&nbsp;$1266329 |
| Manhattan Associates, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5072 | &nbsp;&nbsp;&nbsp;&nbsp; 1039659 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 115691 | &nbsp;&nbsp;&nbsp;&nbsp; 59922153 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 133867 | &nbsp;&nbsp;&nbsp;&nbsp; 37648755 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154900223 |
| **Specialty Retail 7.5%** | **Specialty Retail 7.5%** | **Specialty Retail 7.5%** |
| Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 45739 | &nbsp;&nbsp;&nbsp;&nbsp; 3458783 |
| Burlington Stores, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13978 | &nbsp;&nbsp;&nbsp;&nbsp; 3557401 |
| Carvana Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5206 | &nbsp;&nbsp;&nbsp;&nbsp; 1963912 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12725 | &nbsp;&nbsp;&nbsp;&nbsp; 2827750 |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 65791 | &nbsp;&nbsp;&nbsp;&nbsp; 26657855 |
| Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 59865 | &nbsp;&nbsp;&nbsp;&nbsp; 9122827 |
| TJX Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 111890 | &nbsp;&nbsp;&nbsp;&nbsp; 16172581 |
| Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp; 119352 | &nbsp;&nbsp;&nbsp;&nbsp; 6787548 |
| Ulta Beauty, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6169 | &nbsp;&nbsp;&nbsp;&nbsp; 3372901 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25274 | &nbsp;&nbsp;&nbsp;&nbsp; 4939803 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78861361 |
| **Technology Hardware, Storage & Peripherals 6.4%** | **Technology Hardware, Storage & Peripherals 6.4%** | **Technology Hardware, Storage & Peripherals 6.4%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62583980 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4565093 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67149073 |
| **Textiles, Apparel & Luxury Goods 0.3%** | **Textiles, Apparel & Luxury Goods 0.3%** | **Textiles, Apparel & Luxury Goods 0.3%** |
| Lululemon Athletica, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2603650 |
| NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51042 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2654692 |
| **Trading Companies & Distributors 1.8%** | **Trading Companies & Distributors 1.8%** | **Trading Companies & Distributors 1.8%** |
| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11009139 |
| WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7771389 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18780528 |
| Total Common Stocks<br> (Cost $771,711,253) |  | &nbsp;&nbsp;&nbsp;&nbsp;1047323114 |
| **Short-Term Investment 0.2%** | **Short-Term Investment 0.2%** | **Short-Term Investment 0.2%** |
| **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;1957107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1957107 |
| Total Short-Term Investment<br> (Cost $1,957,107) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1957107 |
| Total Investments<br> (Cost $773,668,360) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.2% | &nbsp;&nbsp;&nbsp;&nbsp;1049280221 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1961910) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1047318311 |

---

------

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | Non-income producing security. |
| (b) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$812 | &nbsp;&nbsp;$68748 | &nbsp;&nbsp;$(67603) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1957 | &nbsp;&nbsp;$78 | &nbsp;&nbsp;$— | &nbsp;&nbsp;1957 |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $1047323114 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $1047323114 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 1957107 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1957107 |
| Total Investments in Securities | &nbsp;&nbsp;$1049280221 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1049280221 |

---

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

------

## NYLI VP MacKay Convertible Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Convertible Securities 87.1%** | **Convertible Securities 87.1%** | **Convertible Securities 87.1%** |
| **Convertible Bonds 79.2%** | **Convertible Bonds 79.2%** | **Convertible Bonds 79.2%** |
| **Aerospace & Defense 0.4%** | **Aerospace & Defense 0.4%** | **Aerospace & Defense 0.4%** |
| AeroVironment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 7/15/30 | &nbsp;&nbsp;&nbsp;$4625000 | &nbsp;&nbsp;$5741938 |
| **Automobile Components 0.9%** | **Automobile Components 0.9%** | **Automobile Components 0.9%** |
| Patrick Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, due 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8966000 | &nbsp;&nbsp;&nbsp;&nbsp; 14578716 |
| **Automobiles 1.1%** | **Automobiles 1.1%** | **Automobiles 1.1%** |
| Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8991600 |
| Rivian Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 3/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8137000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8451292 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17442892 |
| **Biotechnology 7.4%** | **Biotechnology 7.4%** | **Biotechnology 7.4%** |
| Alnylam Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 9/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5744000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9454624 |
| BioMarin Pharmaceutical, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, due 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8118000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7716159 |
| Bridgebio Pharma, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.25%, due 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13168431 |
| Exact Sciences Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 3/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16691000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17394116 |
| Halozyme Therapeutics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.25%, due 3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20829000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23927314 |
| Ionis Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, due 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17111083 |
| Mirum Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25123860 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113895587 |
| **Broadline Retail 1.2%** | **Broadline Retail 1.2%** | **Broadline Retail 1.2%** |
| Etsy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, due 10/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17222000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17903078 |
| **Commercial Services & Supplies 1.7%** | **Commercial Services & Supplies 1.7%** | **Commercial Services & Supplies 1.7%** |
| Tetra Tech, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.25%, due 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24804000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26881335 |
| **Communications Equipment 2.0%** | **Communications Equipment 2.0%** | **Communications Equipment 2.0%** |
| Lumentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.50%, due 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20248425 |
| &nbsp;&nbsp;&nbsp;1.50%, due 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4236000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10234176 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30482601 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Construction & Engineering 0.8%** | **Construction & Engineering 0.8%** | **Construction & Engineering 0.8%** |
| Fluor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, due 8/15/29 | &nbsp;&nbsp;&nbsp;$10096000 | &nbsp;&nbsp;$12004144 |
| **Consumer Finance 0.8%** | **Consumer Finance 0.8%** | **Consumer Finance 0.8%** |
| Upstart Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 11/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12436000 | &nbsp;&nbsp;&nbsp;&nbsp; 11696058 |
| **Consumer Staples Distribution & Retail 0.8%** | **Consumer Staples Distribution & Retail 0.8%** | **Consumer Staples Distribution & Retail 0.8%** |
| Chefs' Warehouse, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, due 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8827000 | &nbsp;&nbsp;&nbsp;&nbsp; 12781496 |
| **Electric Utilities 2.1%** | **Electric Utilities 2.1%** | **Electric Utilities 2.1%** |
| PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28204000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28593215 |
| Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 6/15/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3035000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3079008 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31672223 |
| **Electronic Equipment, Instruments & Components 4.4%** | **Electronic Equipment, Instruments & Components 4.4%** | **Electronic Equipment, Instruments & Components 4.4%** |
| Advanced Energy Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19979000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27760820 |
| Avnet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, due 9/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310400 |
| Mirion Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.25%, due 6/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9354000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11545175 |
| OSI Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.25%, due 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13671000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19867381 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68483776 |
| **Energy Equipment & Services 0.4%** | **Energy Equipment & Services 0.4%** | **Energy Equipment & Services 0.4%** |
| Oil States International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6051000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6057051 |
| **Entertainment 3.3%** | **Entertainment 3.3%** | **Entertainment 3.3%** |
| Liberty Media Corp.-Liberty Formula One |  |  |
| &nbsp;&nbsp;&nbsp;2.25%, due 8/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14461000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19211438 |
| Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, due 1/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16137275 |
| Sirius XM Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, due 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15251775 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600488 |
| **Financial Services 3.3%** | **Financial Services 3.3%** | **Financial Services 3.3%** |
| Affirm Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.75%, due 12/15/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11989000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13050026 |
| Euronet Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.625%, due 10/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6618150 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Financial Services** | **Financial Services** | **Financial Services** |
| Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, due 3/1/31 (a) | &nbsp;&nbsp;&nbsp;$13205000 | &nbsp;&nbsp;$12118953 |
| Shift4 Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.50%, due 8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19960000 | &nbsp;&nbsp;&nbsp;&nbsp; 19692187 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51479316 |
| **Food Products 2.2%** | **Food Products 2.2%** | **Food Products 2.2%** |
| Freshpet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8896000 | &nbsp;&nbsp;&nbsp;&nbsp; 10021344 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23592010 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33613354 |
| **Ground Transportation 1.8%** | **Ground Transportation 1.8%** | **Ground Transportation 1.8%** |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2028 |  |  |
| &nbsp;&nbsp;&nbsp;0.875%, due 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18821000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27713922 |
| **Health Care Equipment & Supplies 7.4%** | **Health Care Equipment & Supplies 7.4%** | **Health Care Equipment & Supplies 7.4%** |
| DexCom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.375%, due 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14468000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13205667 |
| Integer Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.875%, due 3/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26747000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26051578 |
| iRhythm Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, due 9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20839518 |
| Lantheus Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, due 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25213000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26580805 |
| Merit Medical Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 2/1/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23817000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27734897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114412465 |
| **Health Care REITs 2.7%** | **Health Care REITs 2.7%** | **Health Care REITs 2.7%** |
| Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, due 7/15/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41070320 |
| **Health Care Technology 0.5%** | **Health Care Technology 0.5%** | **Health Care Technology 0.5%** |
| Teladoc Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, due 6/1/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7689000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7219929 |
| **Hotels, Restaurants & Leisure 3.4%** | **Hotels, Restaurants & Leisure 3.4%** | **Hotels, Restaurants & Leisure 3.4%** |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8457000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18909304 |
| DoorDash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 5/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13206705 |
| Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2758000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2784201 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Hotels, Restaurants & Leisure** | **Hotels, Restaurants & Leisure** | **Hotels, Restaurants & Leisure** |
| NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, due 2/15/27 | &nbsp;&nbsp;&nbsp;$17380000 | &nbsp;&nbsp;$17831880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52732090 |
| **Household Durables 1.0%** | **Household Durables 1.0%** | **Household Durables 1.0%** |
| Meritage Homes Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, due 5/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15293000 | &nbsp;&nbsp;&nbsp;&nbsp; 15728272 |
| **IT Services 3.3%** | **IT Services 3.3%** | **IT Services 3.3%** |
| Akamai Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.375%, due 9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18503905 |
| Cloudflare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 6/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13223560 |
| Snowflake, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 10/1/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12819000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19478470 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51205935 |
| **Life Sciences Tools & Services 0.3%** | **Life Sciences Tools & Services 0.3%** | **Life Sciences Tools & Services 0.3%** |
| Tempus AI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.75%, due 7/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112025 |
| **Machinery 0.7%** | **Machinery 0.7%** | **Machinery 0.7%** |
| Greenbrier Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, due 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9472000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10174349 |
| **Media 0.6%** | **Media 0.6%** | **Media 0.6%** |
| Liberty Broadband Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, due 3/31/53 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9771000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9668404 |
| **Metals & Mining 1.0%** | **Metals & Mining 1.0%** | **Metals & Mining 1.0%** |
| MP Materials Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 3/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4644000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14805072 |
| **Oil, Gas & Consumable Fuels 0.9%** | **Oil, Gas & Consumable Fuels 0.9%** | **Oil, Gas & Consumable Fuels 0.9%** |
| Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13962922 |
| **Professional Services 1.7%** | **Professional Services 1.7%** | **Professional Services 1.7%** |
| Parsons Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, due 3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12237000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13980772 |
| Planet Labs PBC |  |  |
| &nbsp;&nbsp;&nbsp;0.50%, due 10/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12551200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26531972 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Semiconductors & Semiconductor Equipment 3.8%** | **Semiconductors & Semiconductor Equipment 3.8%** | **Semiconductors & Semiconductor Equipment 3.8%** |
| Impinj, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, due 5/15/27 | &nbsp;&nbsp;&nbsp;$4870000 | &nbsp;&nbsp;$8149945 |
| MKS, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, due 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16357000 | &nbsp;&nbsp;&nbsp;&nbsp; 17951807 |
| Nova Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 9/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8545000 | &nbsp;&nbsp;&nbsp;&nbsp; 10293683 |
| ON Semiconductor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13475000 | &nbsp;&nbsp;&nbsp;&nbsp; 15368238 |
| Synaptics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.75%, due 12/1/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7550550 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59314223 |
| **Software 12.9%** | **Software 12.9%** | **Software 12.9%** |
| CyberArk Software Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 6/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8888000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9891438 |
| Datadog, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 12/1/29 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15760900 |
| Dropbox, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12063000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12479173 |
| Five9, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5810790 |
| Guidewire Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, due 11/1/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14557383 |
| Life360, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 6/1/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11618075 |
| Nebius Group NV |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 9/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6928000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8074584 |
| Nutanix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.25%, due 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18104000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24956364 |
| Progress Software Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12268000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12369211 |
| Q2 Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.75%, due 6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11971000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12443855 |
| Rapid7, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, due 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659961 |
| Rubrik, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 6/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7067580 |
| Tyler Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.25%, due 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15238000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16761800 |
| Unity Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 3/15/30 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11474000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15525756 |
| Vertex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.75%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8938000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9116760 |
| Workiva, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, due 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8196738 |
| Zscaler, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 7/15/28 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8051400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198341768 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Specialty Retail 0.9%** | **Specialty Retail 0.9%** | **Specialty Retail 0.9%** |
| Burlington Stores, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, due 12/15/27 | &nbsp;&nbsp;&nbsp;$10100000 | &nbsp;&nbsp;$13650150 |
| **Technology Hardware, Storage & Peripherals 3.5%** | **Technology Hardware, Storage & Peripherals 3.5%** | **Technology Hardware, Storage & Peripherals 3.5%** |
| Seagate HDD Cayman |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10608000 | &nbsp;&nbsp;&nbsp;&nbsp; 30570930 |
| Western Digital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7380000 | &nbsp;&nbsp;&nbsp;&nbsp; 23689800 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54260730 |
| Total Convertible Bonds<br> (Cost $1,055,243,036) |  | &nbsp;&nbsp;&nbsp;&nbsp;1220218601 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Convertible Preferred Stocks 7.9%** | **Convertible Preferred Stocks 7.9%** | **Convertible Preferred Stocks 7.9%** |
| **Aerospace & Defense 1.5%** | **Aerospace & Defense 1.5%** | **Aerospace & Defense 1.5%** |
| Boeing Co. (The) | Boeing Co. (The) |  |
| &nbsp;&nbsp;&nbsp;6.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23612058 |
| **Capital Markets 0.6%** | **Capital Markets 0.6%** | **Capital Markets 0.6%** |
| Ares Management Corp. | Ares Management Corp. |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;6.75% (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9920609 |
| **Electric Utilities 0.5%** | **Electric Utilities 0.5%** | **Electric Utilities 0.5%** |
| NextEra Energy, Inc. | NextEra Energy, Inc. |  |
| &nbsp;&nbsp;&nbsp;7.299% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7682474 |
| **Financial Services 1.4%** | **Financial Services 1.4%** | **Financial Services 1.4%** |
| Apollo Global Management, Inc. | Apollo Global Management, Inc. |  |
| &nbsp;&nbsp;&nbsp;6.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21670838 |
| **Semiconductors & Semiconductor Equipment 1.0%** | **Semiconductors & Semiconductor Equipment 1.0%** | **Semiconductors & Semiconductor Equipment 1.0%** |
| Microchip Technology, Inc. | Microchip Technology, Inc. |  |
| &nbsp;&nbsp;&nbsp;7.50% (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14601070 |
| **Technology Hardware, Storage & Peripherals 1.1%** | **Technology Hardware, Storage & Peripherals 1.1%** | **Technology Hardware, Storage & Peripherals 1.1%** |
| Hewlett Packard Enterprise Co. | Hewlett Packard Enterprise Co. |  |
| &nbsp;&nbsp;&nbsp;7.625% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17151540 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Convertible Preferred Stocks** | **Convertible Preferred Stocks** | **Convertible Preferred Stocks** |
| **Trading Companies & Distributors 1.8%** | **Trading Companies & Distributors 1.8%** | **Trading Companies & Distributors 1.8%** |
| QXO, Inc. | QXO, Inc. |  |
| &nbsp;&nbsp;&nbsp;5.50% | &nbsp;&nbsp;&nbsp;&nbsp; 493888 | &nbsp;&nbsp;$27158901 |
| Total Convertible Preferred Stocks<br> (Cost $103,146,184) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121797490 |
| Total Convertible Securities<br> (Cost $1,158,389,220) |  | &nbsp;&nbsp;&nbsp;&nbsp;1342016091 |
| **Short-Term Investments 16.4%** | **Short-Term Investments 16.4%** | **Short-Term Investments 16.4%** |
| **Affiliated Investment Company 12.1%** | **Affiliated Investment Company 12.1%** | **Affiliated Investment Company 12.1%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (c)(d) | &nbsp;&nbsp;&nbsp;&nbsp;186172312 | &nbsp;&nbsp;&nbsp;&nbsp; 186172312 |
| **Unaffiliated Investment Companies 4.3%** | **Unaffiliated Investment Companies 4.3%** | **Unaffiliated Investment Companies 4.3%** |
| Invesco Government & Agency Portfolio, 4.131% (d)(e) | &nbsp;&nbsp;&nbsp;&nbsp; 56002165 | &nbsp;&nbsp;&nbsp;&nbsp; 56002165 |
| Morgan Stanley Institutional Liquidity Fund Government Portfolio, 4.141% (d)(e) | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10000000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66002165 |
| Total Short-Term Investments<br> (Cost $252,174,477) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252174477 |
| Total Investments<br> (Cost $1,410,563,697) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103.5% | &nbsp;&nbsp;&nbsp;&nbsp;1594190568 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53356225) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1540834343 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $63,845,494. The Portfolio received cash collateral with a value of $66,002,165. |
| (b) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (c) | As of September 30, 2025, the Portfolio's ownership exceeds 5% of the outstanding shares of the Underlying Fund's share class. |
| (d) | Current yield as of September 30, 2025. |
| (e) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$37190 | &nbsp;&nbsp;$609278 | &nbsp;&nbsp;$(460296) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$186172 | &nbsp;&nbsp;$1603 | &nbsp;&nbsp;$— | &nbsp;&nbsp;186172 |

---

Abbreviation(s): <br> REIT—Real Estate Investment Trust

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Convertible Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Convertible Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $1220218601 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $1220218601 |
| &nbsp;&nbsp;&nbsp;Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 121797490 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 121797490 |
| Total Convertible Securities | &nbsp;&nbsp;&nbsp;&nbsp;121797490 | &nbsp;&nbsp;&nbsp;&nbsp;1220218601 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1342016091 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 186172312 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 186172312 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 66002165 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 66002165 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;252174477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252174477 |
| Total Investments in Securities | &nbsp;&nbsp;$373971967 | &nbsp;&nbsp;$1220218601 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1594190568 |

---

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

------

## NYLI VP MacKay U.S. Infrastructure Bond Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 99.1%** | **Long-Term Bonds 99.1%** | **Long-Term Bonds 99.1%** |
| **Corporate Bonds 4.9%** | **Corporate Bonds 4.9%** | **Corporate Bonds 4.9%** |
| **Commercial Services 2.0%** | **Commercial Services 2.0%** | **Commercial Services 2.0%** |
| Chapman University |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021 |  |  |
| &nbsp;&nbsp;&nbsp;1.867%, due 4/1/29 | $1000000 | &nbsp;&nbsp;$913129 |
| President and Fellows of Harvard College |  |  |
| &nbsp;&nbsp;&nbsp;4.887%, due 3/15/30 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1029736 |
| Toll Road Investors Partnership II LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 2/15/39 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 741432 |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 2/15/49 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308847 |
| Trustees of Princeton University (The) |  |  |
| &nbsp;&nbsp;&nbsp;4.647%, due 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740092 |
| &nbsp;&nbsp;&nbsp;5.70%, due 3/1/39 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810776 |
| **Healthcare-Services 2.9%** | **Healthcare-Services 2.9%** | **Healthcare-Services 2.9%** |
| Lifespan Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;5.05%, due 2/15/30 | &nbsp;&nbsp;1630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644949 |
| Marshfield Clinic Health System, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024 |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 2/15/34 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546185 |
| Southeast Alaska Regional Health Consortium |  |  |
| &nbsp;&nbsp;&nbsp;2.262%, due 7/1/31 | &nbsp;&nbsp;1055000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900282 |
| Sutter Health |  |  |
| &nbsp;&nbsp;&nbsp;Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;5.213%, due 8/15/32 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1552653 |
| &nbsp;&nbsp;&nbsp;Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;5.537%, due 8/15/35 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048862 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6692931 |
| Total Corporate Bonds<br> (Cost $11,356,067) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11503707 |
| **Municipal Bonds 94.2%** | **Municipal Bonds 94.2%** | **Municipal Bonds 94.2%** |
| **Alabama 1.0%** | **Alabama 1.0%** | **Alabama 1.0%** |
| Black Belt Energy Gas District, Gas Project<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/1/35 | &nbsp;&nbsp;1560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630469 |
| &nbsp;&nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 12/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712428 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2342897 |
| **Arizona 1.1%** | **Arizona 1.1%** | **Arizona 1.1%** |
| City of Phoenix Civic Improvement Corp., Water System<br> Revenue Bonds, Junior Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;1.939%, due 7/1/30 | &nbsp;&nbsp;2775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2534240 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **California 14.4%** | **California 14.4%** | **California 14.4%** |
| Alameda Corridor Transportation Authority<br> Revenue Bonds, Sub. Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series B, Insured: AG-CR AMBAC |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 10/1/31 | $1000000 | &nbsp;&nbsp;$762300 |
| &nbsp;&nbsp;&nbsp;Series B, Insured: BAM AMBAC |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 10/1/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 734829 |
| Alameda Corridor Transportation Authority<br> Revenue Bonds, Senior Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series C, Insured: NATL-RE |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 10/1/33 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2059879 |
| &nbsp;&nbsp;&nbsp;Series C, Insured: BHAC-CR NATL-RE |  |  |
| &nbsp;&nbsp;&nbsp;6.60%, due 10/1/29 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2117097 |
| Antelope Valley Community College District<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;2.321%, due 8/1/34 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693760 |
| California Community Choice Financing Authority, Clean Energy Project<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/1/55 (b) | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2119125 |
| California Infrastructure & Economic Development Bank, J. David Gladstone Institutes Project (The)<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406017 |
| California Public Finance Authority, PIH Health, Inc. Obligated Group<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;5.447%, due 6/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963283 |
| California State University<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.208%, due 11/1/37 | &nbsp;&nbsp;1075000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113309 |
| City of Los Angeles<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;2.15%, due 9/1/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867597 |
| City of Los Angeles, Wastewater System<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.291%, due 6/1/34 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054812 |
| City of Los Angeles, Sustainable Bond<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 9/1/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077914 |
| City of San Francisco, Public Utilities Commission Water<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;2.803%, due 11/1/31 | &nbsp;&nbsp;2065000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918285 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **California** | **California** | **California** |
| Los Angeles County Public Works Financing Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;7.618%, due 8/1/40 | $500000 | &nbsp;&nbsp;$598429 |
| Los Angeles Department of Water & Power, Power System<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;&nbsp;6.574%, due 7/1/45 | &nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1333167 |
| Los Angeles Unified School District<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.255%, due 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773266 |
| Palomar Community College District<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;2.173%, due 8/1/33 | &nbsp;&nbsp;2145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829018 |
| San Diego Community College District<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series A-2 |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 8/1/30 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082608 |
| San Diego County Water Authority, Sustainable Bond<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;1.531%, due 5/1/30 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797946 |
| State of California<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;5.15%, due 9/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522048 |
| &nbsp;&nbsp;&nbsp;7.55%, due 4/1/39 | &nbsp;&nbsp;3440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4201743 |
| University of California<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series BG |  |  |
| &nbsp;&nbsp;&nbsp;1.614%, due 5/15/30 | &nbsp;&nbsp;4250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3848173 |
| William S Hart Union High School District<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 8/1/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745710 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33620315 |
| **Colorado 1.9%** | **Colorado 1.9%** | **Colorado 1.9%** |
| Colorado Housing and Finance Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series E-1, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 5/1/49 | &nbsp;&nbsp;1895000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995053 |
| &nbsp;&nbsp;&nbsp;Series D-1, Class I, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 5/1/55 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059211 |
| Metro Water Recovery<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;2.813%, due 4/1/32 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393877 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4448141 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Connecticut 2.2%** | **Connecticut 2.2%** | **Connecticut 2.2%** |
| Connecticut Housing Finance Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A-2, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;5.41%, due 5/15/55 | $1500000 | &nbsp;&nbsp;$1531681 |
| State of Connecticut<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;4.648%, due 5/15/33 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1539851 |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;4.846%, due 5/1/33 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2078936 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5150468 |
| **District of Columbia 1.7%** | **District of Columbia 1.7%** | **District of Columbia 1.7%** |
| District of Columbia, Georgetown University<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.751%, due 4/1/35 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1065286 |
| District of Columbia, Howard University<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B, Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, due 10/1/35 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742829 |
| District of Columbia Income Tax<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;4.818%, due 6/1/34 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029887 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3838002 |
| **Florida 1.0%** | **Florida 1.0%** | **Florida 1.0%** |
| County of Miami-Dade, Seaport Department<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A-3, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;2.312%, due 10/1/33 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848589 |
| Sumter Landing Community Development District<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;4.981%, due 10/1/31 | &nbsp;&nbsp;1395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2304218 |
| **Georgia 0.9%** | **Georgia 0.9%** | **Georgia 0.9%** |
| City of Atlanta, Airport Customer Facility Charge<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;4.896%, due 7/1/34 | &nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143188 |
| Oglethorpe Power Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Insured: NATL-RE |  |  |
| &nbsp;&nbsp;&nbsp;5.534%, due 1/1/35 (a) | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043192 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186380 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Hawaii 2.7%** | **Hawaii 2.7%** | **Hawaii 2.7%** |
| State of Hawaii<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series FZ |  |  |
| &nbsp;&nbsp;&nbsp;1.695%, due 8/1/32 | $4500000 | &nbsp;&nbsp;$3824301 |
| &nbsp;&nbsp;&nbsp;Series FZ |  |  |
| &nbsp;&nbsp;&nbsp;2.245%, due 8/1/38 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 754277 |
| &nbsp;&nbsp;&nbsp;Series GE |  |  |
| &nbsp;&nbsp;&nbsp;2.80%, due 10/1/38 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 803634 |
| &nbsp;&nbsp;&nbsp;Series GN |  |  |
| &nbsp;&nbsp;&nbsp;4.936%, due 10/1/37 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013519 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6395731 |
| **Idaho 3.1%** | **Idaho 3.1%** | **Idaho 3.1%** |
| City of Boise City, Airport<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;5.376%, due 9/1/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061289 |
| Idaho Housing & Finance Association<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 1/1/65 | &nbsp;&nbsp;1995000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2087735 |
| &nbsp;&nbsp;&nbsp;Series D, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 1/1/56 | &nbsp;&nbsp;1265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350899 |
| &nbsp;&nbsp;&nbsp;Series E, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 7/1/56 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615272 |
| Idaho Housing & Finance Association, Single-Family Mortgage<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7148868 |
| **Illinois 7.9%** | **Illinois 7.9%** | **Illinois 7.9%** |
| Chicago O'Hare International Airport<br> Revenue Bonds, Senior Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;&nbsp;2.346%, due 1/1/30 | &nbsp;&nbsp;3785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3541261 |
| Illinois Housing Development Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;5.229%, due 10/1/34 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011033 |
| &nbsp;&nbsp;&nbsp;Series B, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;5.329%, due 10/1/35 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007875 |
| Sales Tax Securitization Corp.<br> Revenue Bonds, Second Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;3.057%, due 1/1/34 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3603368 |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;4.847%, due 1/1/31 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031765 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Illinois** | **Illinois** | **Illinois** |
| State of Illinois<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;4.62%, due 6/15/38 | $1300000 | &nbsp;&nbsp;$1284912 |
| State of Illinois<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.277%, due 5/1/31 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4161845 |
| &nbsp;&nbsp;&nbsp;Series 3 |  |  |
| &nbsp;&nbsp;&nbsp;6.725%, due 4/1/35 | &nbsp;&nbsp;2692308 | &nbsp;&nbsp;&nbsp;&nbsp; 2862213 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18504272 |
| **Indiana 0.9%** | **Indiana 0.9%** | **Indiana 0.9%** |
| Evansville Waterworks District<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| &nbsp;&nbsp;&nbsp;2.458%, due 1/1/32 | &nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164816 |
| **Iowa 1.8%** | **Iowa 1.8%** | **Iowa 1.8%** |
| Iowa Finance Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series F, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 7/1/55 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076395 |
| Iowa Student Loan Liquidity Corp.<br> Revenue Bonds, Senior Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.343%, due 12/1/34 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001352 |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.426%, due 12/1/35 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012835 |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.908%, due 12/1/45 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019363 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4109945 |
| **Kentucky 0.9%** | **Kentucky 0.9%** | **Kentucky 0.9%** |
| Kentucky Higher Education Student Loan Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A-2 |  |  |
| &nbsp;&nbsp;&nbsp;6.195%, due 6/1/40 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083553 |
| **Louisiana 0.4%** | **Louisiana 0.4%** | **Louisiana 0.4%** |
| Louisiana Energy & Power Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;2.332%, due 6/1/32 | &nbsp;&nbsp;1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926840 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Maryland 0.4%** | **Maryland 0.4%** | **Maryland 0.4%** |
| City of Baltimore<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.35%, due 10/15/42 | $1000000 | &nbsp;&nbsp;$1016686 |
| **Massachusetts 6.5%** | **Massachusetts 6.5%** | **Massachusetts 6.5%** |
| Commonwealth of Massachusetts<br> Limited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;&nbsp;1.67%, due 11/1/31 | &nbsp;&nbsp;1920000 | &nbsp;&nbsp;&nbsp;&nbsp; 1674283 |
| &nbsp;&nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;&nbsp;2.663%, due 9/1/39 | &nbsp;&nbsp;2897261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2436286 |
| Commonwealth of Massachusetts, COVID-19 Recovery Assessment<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;3.769%, due 7/15/29 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993596 |
| Massachusetts Educational Financing Authority<br> Revenue Bonds, Senior Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.95%, due 7/1/44 | &nbsp;&nbsp;2185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2224378 |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;6.166%, due 7/1/50 | &nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5610825 |
| Town of Marshfield<br> Limited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 9/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264520 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15203888 |
| **Minnesota 1.1%** | **Minnesota 1.1%** | **Minnesota 1.1%** |
| Minnesota Housing Finance Agency<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;1.58%, due 2/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;712049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537628 |
| &nbsp;&nbsp;&nbsp;Series A, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040609 |
| &nbsp;&nbsp;&nbsp;Series J, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046607 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2624844 |
| **Mississippi 0.9%** | **Mississippi 0.9%** | **Mississippi 0.9%** |
| State of Mississippi<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;1.732%, due 11/1/32 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2146314 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Missouri 0.2%** | **Missouri 0.2%** | **Missouri 0.2%** |
| Missouri Housing Development Commission, First Place Homeownership Loan Program<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series G, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 5/1/56 | $400000 | &nbsp;&nbsp;$423603 |
| **New Hampshire 1.1%** | **New Hampshire 1.1%** | **New Hampshire 1.1%** |
| New Hampshire Business Finance Authority, Wheeling Power Co.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;6.89%, due 4/1/34 (a) | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1574221 |
| New Hampshire Health and Education Facilities Authority Act, Granite Edvance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.04%, due 11/1/34 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002884 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577105 |
| **New Jersey 2.0%** | **New Jersey 2.0%** | **New Jersey 2.0%** |
| New Jersey Economic Development Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series NNN |  |  |
| &nbsp;&nbsp;&nbsp;3.77%, due 6/15/31 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446637 |
| Rutgers The State University of New Jersey<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series S |  |  |
| &nbsp;&nbsp;&nbsp;2.093%, due 5/1/33 | &nbsp;&nbsp;2510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154478 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4601115 |
| **New York 13.3%** | **New York 13.3%** | **New York 13.3%** |
| City of New York, Fiscal of 2021<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series D |  |  |
| &nbsp;&nbsp;&nbsp;1.923%, due 8/1/31 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3530086 |
| City of New York<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series H |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 2/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532469 |
| Metropolitan Transportation Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;7.336%, due 11/15/39 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195940 |
| New York City Housing Development Corp., 8 Spruce Street<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.458%, due 12/15/31 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2571317 |
| &nbsp;&nbsp;&nbsp;Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.033%, due 12/15/31 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029766 |
| &nbsp;&nbsp;&nbsp;Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.033%, due 12/15/31 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029766 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **New York** | **New York** | **New York** |
| New York City Transitional Finance Authority, Future Tax Secured<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series D-3 |  |  |
| &nbsp;&nbsp;&nbsp;2.40%, due 11/1/32 | $4000000 | &nbsp;&nbsp;$3519991 |
| &nbsp;&nbsp;&nbsp;Series F-2 |  |  |
| &nbsp;&nbsp;&nbsp;3.05%, due 5/1/27 | &nbsp;&nbsp;1020000 | &nbsp;&nbsp;&nbsp;&nbsp; 1009785 |
| &nbsp;&nbsp;&nbsp;Series G-2 |  |  |
| &nbsp;&nbsp;&nbsp;4.91%, due 5/1/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1032979 |
| &nbsp;&nbsp;&nbsp;Series G-3 |  |  |
| &nbsp;&nbsp;&nbsp;5.01%, due 5/1/34 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547363 |
| New York Power Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;5.749%, due 11/15/33 | &nbsp;&nbsp;2115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2277193 |
| New York State Dormitory Authority, State of New York Personal Income Tax<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;2.202%, due 3/15/34 | &nbsp;&nbsp;2620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2224205 |
| New York State Dormitory Authority, Roswell Park Cancer Institute Corp. Obligated Group<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;4.84%, due 7/1/32 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530373 |
| New York State Dormitory Authority, New York University<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.228%, due 7/1/35 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4163933 |
| State of New York Mortgage Agency Homeowner Mortgage<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series 268, Insured: SONYMA |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 10/1/55 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055595 |
| Triborough Bridge & Tunnel Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 11/15/39 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034035 |
| United Nations Development Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.661%, due 8/1/36 | &nbsp;&nbsp;1465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1575221 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30860017 |
| **North Carolina 0.9%** | **North Carolina 0.9%** | **North Carolina 0.9%** |
| City of Charlotte<br> Certificate of Participation |  |  |
| &nbsp;&nbsp;&nbsp;5.004%, due 6/1/35 | &nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185321 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Ohio 2.7%** | **Ohio 2.7%** | **Ohio 2.7%** |
| Brecksville-Broadview Heights City School District<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;3.507%, due 12/1/47 | $1000000 | &nbsp;&nbsp;$765106 |
| City of Columbus<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;4.778%, due 8/15/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1038635 |
| Columbus Metropolitan Housing Authority, Riverside Sunshine Phase II LLC<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 9/1/28 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1015841 |
| JobsOhio Beverage System<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;3.985%, due 1/1/29 | &nbsp;&nbsp;2240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244196 |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;4.532%, due 1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300819 |
| Northeast Ohio Regional Sewer District<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.777%, due 11/15/31 | &nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955043 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6319640 |
| **Oklahoma 1.3%** | **Oklahoma 1.3%** | **Oklahoma 1.3%** |
| Oklahoma Municipal Power Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;2.501%, due 1/1/35 | &nbsp;&nbsp;3460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948416 |
| **Oregon 5.2%** | **Oregon 5.2%** | **Oregon 5.2%** |
| Oregon State Lottery<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.031%, due 4/1/35 | &nbsp;&nbsp;3100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217459 |
| &nbsp;&nbsp;&nbsp;Series B, Insured: Moral Obligation |  |  |
| &nbsp;&nbsp;&nbsp;5.093%, due 4/1/34 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091225 |
| Port of Morrow, Bonneville Cooperation Project No. 4<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;&nbsp;2.987%, due 9/1/36 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872705 |
| Port of Morrow, Bonneville Power Administration<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;3.521%, due 9/1/27 | &nbsp;&nbsp;1380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373141 |
| &nbsp;&nbsp;&nbsp;4.839%, due 9/1/31 | &nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295051 |
| State of Oregon, Article XI-Q State Projects<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.174%, due 5/1/35 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058094 |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.304%, due 5/1/36 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060917 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Oregon** | **Oregon** | **Oregon** |
| State of Oregon, Article XI-Q State Projects<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;5.424%, due 5/1/37 | $1000000 | &nbsp;&nbsp;$1062560 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12031152 |
| **Pennsylvania 1.5%** | **Pennsylvania 1.5%** | **Pennsylvania 1.5%** |
| City of Philadelphia<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;4.846%, due 8/1/31 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1032672 |
| Commonwealth Financing Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;3.058%, due 6/1/34 | &nbsp;&nbsp;1535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374596 |
| Pennsylvania Higher Educational Facilities Authority, Thomas Jefferson University<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series C, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;5.362%, due 11/1/37 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032643 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3439911 |
| **Rhode Island 0.9%** | **Rhode Island 0.9%** | **Rhode Island 0.9%** |
| Rhode Island Housing & Mortgage Finance Corp., Homeownership Opportunity<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series 85-T, Insured: GNMA |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 10/1/53 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056477 |
| Rhode Island Student Loan Authority<br> Revenue Bonds, Senior Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series 1 |  |  |
| &nbsp;&nbsp;&nbsp;5.714%, due 12/1/44 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007179 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063656 |
| **South Carolina 1.0%** | **South Carolina 1.0%** | **South Carolina 1.0%** |
| South Carolina Public Service Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;5.01%, due 12/1/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025324 |
| &nbsp;&nbsp;&nbsp;Series C, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;5.247%, due 12/1/35 | &nbsp;&nbsp;1245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1305574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330898 |
| **Texas 9.5%** | **Texas 9.5%** | **Texas 9.5%** |
| City of Houston, Combined Utility System<br> Revenue Bonds, First Lien |  |  |
| &nbsp;&nbsp;&nbsp;Series E |  |  |
| &nbsp;&nbsp;&nbsp;3.973%, due 11/15/31 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1994783 |
| City of San Antonio<br> Limited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;5.635%, due 2/1/26 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002798 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Texas** | **Texas** | **Texas** |
| Denton Independent School District<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series A, Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;1.677%, due 8/15/32 | $1760000 | &nbsp;&nbsp;$1506256 |
| Keller Independent School District<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 2/15/31 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 249636 |
| &nbsp;&nbsp;&nbsp;Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 2/15/31 | &nbsp;&nbsp;1560000 | &nbsp;&nbsp;&nbsp;&nbsp; 1626626 |
| Northwest Independent School District<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series A, Insured: PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;1.776%, due 2/15/31 | &nbsp;&nbsp;2910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2599202 |
| State of Texas, State Water Plan (c)<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series F |  |  |
| &nbsp;&nbsp;&nbsp;4.389%, due 8/1/33 | &nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614796 |
| &nbsp;&nbsp;&nbsp;Series F |  |  |
| &nbsp;&nbsp;&nbsp;4.459%, due 8/1/34 | &nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2117314 |
| State of Texas<br> Unlimited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;5.057%, due 10/1/37 | &nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3382847 |
| Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center Obligated Group<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;2.901%, due 9/1/35 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855572 |
| Texas Natural Gas Securitization Finance Corp., Winter Storm URI<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;5.102%, due 4/1/35 | &nbsp;&nbsp;4960610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5114085 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22063915 |
| **U.S. Virgin Islands 0.5%** | **U.S. Virgin Islands 0.5%** | **U.S. Virgin Islands 0.5%** |
| Virgin Islands Water & Power Authority, Electric System<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series C, Insured: AG |  |  |
| &nbsp;&nbsp;&nbsp;6.85%, due 7/1/35 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075104 |
| **Utah 1.7%** | **Utah 1.7%** | **Utah 1.7%** |
| City of Salt Lake City, Sales and Excise Tax<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;2.879%, due 4/1/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930815 |
| Utah Housing Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series D, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 7/1/55 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1067927 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Utah** | **Utah** | **Utah** |
| Utah Housing Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series I, Insured: GNMA / FNMA / FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 7/1/55 | $1000000 | &nbsp;&nbsp;$1086195 |
| Utah Transit Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.783%, due 12/15/30 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 898433 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3983370 |
| **Washington 1.1%** | **Washington 1.1%** | **Washington 1.1%** |
| County of King<br> Limited General Obligation |  |  |
| &nbsp;&nbsp;&nbsp;Series C |  |  |
| &nbsp;&nbsp;&nbsp;2.26%, due 12/1/33 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2593286 |
| **West Virginia 0.5%** | **West Virginia 0.5%** | **West Virginia 0.5%** |
| County of Ohio, Special District Excise Tax<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 3/1/35 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076232 |
| Total Municipal Bonds<br> (Cost $212,126,382) |  | &nbsp;&nbsp;&nbsp;&nbsp;219323159 |
| Total Long-Term Bonds<br> (Cost $223,482,449) |  | &nbsp;&nbsp;&nbsp;&nbsp;230826866 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Short-Term Investment 1.6%** | **Short-Term Investment 1.6%** | **Short-Term Investment 1.6%** |
| **Unaffiliated Investment Company 1.6%** | **Unaffiliated Investment Company 1.6%** | **Unaffiliated Investment Company 1.6%** |
| Dreyfus Government Cash Management - Institutional Shares, 4.057% (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784033 |
| Total Short-Term Investment<br> (Cost $3,784,033) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784033 |
| Total Investments<br> (Cost $227,266,482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.7% | &nbsp;&nbsp;&nbsp;&nbsp;234610899 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1639073) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$232971826 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of September 30, 2025. |
| (c) | Delayed delivery security. |
| (d) | Current yield as of September 30, 2025. |

---

------

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts<sup>1</sup>:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>2</sup>** |
| **Short Contracts** |  |  |  |  |  |
| U.S. Treasury 10 Year Ultra Bonds | &nbsp;&nbsp;(61) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $(6946328) | &nbsp;&nbsp; $(7019766) | &nbsp;&nbsp; $(73438) |

---

1. As of September 30, 2025, cash in the amount of $155,550 was on deposit with a broker or futures commission merchant for futures transactions.

2. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| AG—Assured Guaranty |
| AMBAC—Ambac Assurance Corp. |
| BAM—Build America Mutual Assurance Co. |
| CR—Custodial Receipts |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| NATL-RE—National Public Finance Guarantee Corp. |
| PSF-GTD—Permanent School Fund Guaranteed |
| SONYMA—State of New York Mortgage Agency |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $11503707 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $11503707 |
| &nbsp;&nbsp;&nbsp;Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 219323159 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 219323159 |
| Total Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;230826866 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;230826866 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 3784033 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3784033 |
| Total Investments in Securities | &nbsp;&nbsp;$3784033 | &nbsp;&nbsp;$230826866 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$234610899 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp; $(73438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(73438) |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP Wellington Growth Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 98.5%** | **Common Stocks 98.5%** | **Common Stocks 98.5%** |
| **Aerospace & Defense 2.1%** | **Aerospace & Defense 2.1%** | **Aerospace & Defense 2.1%** |
| GE Aerospace | &nbsp;&nbsp;&nbsp;&nbsp; 46245 | &nbsp;&nbsp;$13911421 |
| **Automobiles 3.1%** | **Automobiles 3.1%** | **Automobiles 3.1%** |
| Tesla, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 46697 | &nbsp;&nbsp;&nbsp;&nbsp; 20767090 |
| **Broadline Retail 5.3%** | **Broadline Retail 5.3%** | **Broadline Retail 5.3%** |
| Amazon.com, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 160555 | &nbsp;&nbsp;&nbsp;&nbsp; 35253061 |
| **Capital Markets 6.9%** | **Capital Markets 6.9%** | **Capital Markets 6.9%** |
| Ares Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 37719 | &nbsp;&nbsp;&nbsp;&nbsp; 6030891 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 7247 | &nbsp;&nbsp;&nbsp;&nbsp; 5771148 |
| KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 78251 | &nbsp;&nbsp;&nbsp;&nbsp; 10168717 |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4579 | &nbsp;&nbsp;&nbsp;&nbsp; 2598170 |
| Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 63388 | &nbsp;&nbsp;&nbsp;&nbsp; 5606669 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20650 | &nbsp;&nbsp;&nbsp;&nbsp; 10050562 |
| Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 53089 | &nbsp;&nbsp;&nbsp;&nbsp; 5891817 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46117974 |
| **Commercial Services & Supplies 0.7%** | **Commercial Services & Supplies 0.7%** | **Commercial Services & Supplies 0.7%** |
| Waste Connections, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26896 | &nbsp;&nbsp;&nbsp;&nbsp; 4728317 |
| **Communications Equipment 1.5%** | **Communications Equipment 1.5%** | **Communications Equipment 1.5%** |
| Arista Networks, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10165167 |
| **Consumer Finance 1.1%** | **Consumer Finance 1.1%** | **Consumer Finance 1.1%** |
| American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7320806 |
| **Electrical Equipment 1.2%** | **Electrical Equipment 1.2%** | **Electrical Equipment 1.2%** |
| GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8339274 |
| **Entertainment 4.4%** | **Entertainment 4.4%** | **Entertainment 4.4%** |
| Netflix, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18771490 |
| Spotify Technology SA (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10978144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29749634 |
| **Financial Services 4.9%** | **Financial Services 4.9%** | **Financial Services 4.9%** |
| Corpay, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486678 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24471912 |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6984976 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32943566 |
| **Ground Transportation 1.2%** | **Ground Transportation 1.2%** | **Ground Transportation 1.2%** |
| Uber Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8250642 |
| **Health Care Equipment & Supplies 1.4%** | **Health Care Equipment & Supplies 1.4%** | **Health Care Equipment & Supplies 1.4%** |
| Intuitive Surgical, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3235262 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Equipment & Supplies** | **Health Care Equipment & Supplies** | **Health Care Equipment & Supplies** |
| Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 17343 | &nbsp;&nbsp;$6411187 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9646449 |
| **Health Care REITs 1.9%** | **Health Care REITs 1.9%** | **Health Care REITs 1.9%** |
| Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 69834 | &nbsp;&nbsp;&nbsp;&nbsp; 12440229 |
| **Hotels, Restaurants & Leisure 2.2%** | **Hotels, Restaurants & Leisure 2.2%** | **Hotels, Restaurants & Leisure 2.2%** |
| Chipotle Mexican Grill, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 127234 | &nbsp;&nbsp;&nbsp;&nbsp; 4986301 |
| DraftKings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 110241 | &nbsp;&nbsp;&nbsp;&nbsp; 4123013 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20671 | &nbsp;&nbsp;&nbsp;&nbsp; 5362884 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14472198 |
| **Interactive Media & Services 11.2%** | **Interactive Media & Services 11.2%** | **Interactive Media & Services 11.2%** |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 174744 | &nbsp;&nbsp;&nbsp;&nbsp; 42558901 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 44137 | &nbsp;&nbsp;&nbsp;&nbsp; 32413330 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74972231 |
| **IT Services 1.1%** | **IT Services 1.1%** | **IT Services 1.1%** |
| Shopify, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 51304 | &nbsp;&nbsp;&nbsp;&nbsp; 7624287 |
| **Pharmaceuticals 1.8%** | **Pharmaceuticals 1.8%** | **Pharmaceuticals 1.8%** |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11857783 |
| **Professional Services 0.8%** | **Professional Services 0.8%** | **Professional Services 0.8%** |
| TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5653810 |
| **Semiconductors & Semiconductor Equipment 23.8%** | **Semiconductors & Semiconductor Equipment 23.8%** | **Semiconductors & Semiconductor Equipment 23.8%** |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6742008 |
| ARM Holdings plc, ADR (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962042 |
| ASML Holding NV (Registered), ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9038088 |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39446679 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8347285 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5616825 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80891759 |
| Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7512622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;159557308 |
| **Software 14.1%** | **Software 14.1%** | **Software 14.1%** |
| Figma, Inc., Class A (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88179 |
| HubSpot, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6509437 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7408891 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60701668 |
| Palantir Technologies, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256536 |
| ServiceNow, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8296324 |
| Synopsys, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5993208 |
| Unity Software, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3555792 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94810035 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Specialty Retail 2.3%** | **Specialty Retail 2.3%** | **Specialty Retail 2.3%** |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 23896 | &nbsp;&nbsp;$9682420 |
| TJX Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 39097 | &nbsp;&nbsp;&nbsp;&nbsp; 5651081 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15333501 |
| **Technology Hardware, Storage & Peripherals 5.5%** | **Technology Hardware, Storage & Peripherals 5.5%** | **Technology Hardware, Storage & Peripherals 5.5%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 145934 | &nbsp;&nbsp;&nbsp;&nbsp; 37159174 |
| Total Common Stocks<br> (Cost $452,088,625) |  | &nbsp;&nbsp;&nbsp;&nbsp;661073957 |
| **Short-Term Investments 1.4%** | **Short-Term Investments 1.4%** | **Short-Term Investments 1.4%** |
| **Affiliated Investment Company 1.4%** | **Affiliated Investment Company 1.4%** | **Affiliated Investment Company 1.4%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (c) | &nbsp;&nbsp;&nbsp;&nbsp;9255237 | &nbsp;&nbsp;&nbsp;&nbsp; 9255237 |
| **Unaffiliated Investment Company 0.0% ‡** | **Unaffiliated Investment Company 0.0% ‡** | **Unaffiliated Investment Company 0.0% ‡** |
| Invesco Government & Agency Portfolio, 4.131% (c)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 92171 | &nbsp;&nbsp;&nbsp;&nbsp; 92171 |
| Total Short-Term Investments<br> (Cost $9,347,408) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9347408 |
| Total Investments<br> (Cost $461,436,033) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;670421365 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701426 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$671122791 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | Non-income producing security. |
| (b) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $88,127. The Portfolio received cash collateral with a value of $92,171. |
| (c) | Current yield as of September 30, 2025. |
| (d) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$2999 | &nbsp;&nbsp;$96786 | &nbsp;&nbsp;$(90530) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$9255 | &nbsp;&nbsp;$360 | &nbsp;&nbsp;$— | &nbsp;&nbsp;9255 |

---

------

Abbreviation(s): <br> ADR—American Depositary Receipt <br> REIT—Real Estate Investment Trust

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $661073957 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $661073957 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 9255237 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 9255237 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 92171 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 92171 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9347408 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9347408 |
| Total Investments in Securities | &nbsp;&nbsp;$670421365 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$670421365 |

---

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

------

## NYLI VP MacKay High Yield Corporate Bond Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 97.7%** | **Long-Term Bonds 97.7%** | **Long-Term Bonds 97.7%** |
| **Convertible Bonds 0.3%** | **Convertible Bonds 0.3%** | **Convertible Bonds 0.3%** |
| **Energy-Alternate Sources 0.1%** | **Energy-Alternate Sources 0.1%** | **Energy-Alternate Sources 0.1%** |
| XPLR Infrastructure LP |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 6/15/26 (a) | &nbsp;&nbsp;&nbsp;$2525000 | &nbsp;&nbsp;$2468188 |
| **Media 0.2%** | **Media 0.2%** | **Media 0.2%** |
| Cable One, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 3/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1570000 | &nbsp;&nbsp;&nbsp;&nbsp; 1533112 |
| &nbsp;&nbsp;&nbsp;1.125%, due 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5775000 | &nbsp;&nbsp;&nbsp;&nbsp; 4943400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6476512 |
| Total Convertible Bonds<br> (Cost $9,437,971) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8944700 |
| **Corporate Bonds 90.8%** | **Corporate Bonds 90.8%** | **Corporate Bonds 90.8%** |
| **Advertising 1.3%** | **Advertising 1.3%** | **Advertising 1.3%** |
| Clear Channel Outdoor Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963939 |
| &nbsp;&nbsp;&nbsp;7.75%, due 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4092544 |
| Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7908652 |
| &nbsp;&nbsp;&nbsp;3.75%, due 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4613091 |
| &nbsp;&nbsp;&nbsp;4.00%, due 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6462019 |
| &nbsp;&nbsp;&nbsp;4.875%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2546927 |
| Outfront Media Capital LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960491 |
| &nbsp;&nbsp;&nbsp;4.625%, due 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441636 |
| &nbsp;&nbsp;&nbsp;5.00%, due 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6039496 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36028795 |
| **Aerospace & Defense 3.1%** | **Aerospace & Defense 3.1%** | **Aerospace & Defense 3.1%** |
| AAR Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830918 |
| Bombardier, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 6/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3313298 |
| Efesto Bidco SpA Efesto US LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series XR |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 2/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3816000 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4689170 |
| &nbsp;&nbsp;&nbsp;4.875%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4093622 |
| &nbsp;&nbsp;&nbsp;6.00%, due 1/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8846976 |
| &nbsp;&nbsp;&nbsp;6.375%, due 3/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18510570 |
| &nbsp;&nbsp;&nbsp;6.375%, due 5/31/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13530431 |
| &nbsp;&nbsp;&nbsp;6.625%, due 3/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6928838 |
| &nbsp;&nbsp;&nbsp;6.75%, due 8/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6888839 |
| &nbsp;&nbsp;&nbsp;6.75%, due 1/31/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5040550 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Aerospace & Defense** | **Aerospace & Defense** | **Aerospace & Defense** |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 12/15/30 (a) | &nbsp;&nbsp;&nbsp;$3800000 | &nbsp;&nbsp;$3937313 |
| &nbsp;&nbsp;&nbsp;7.125%, due 12/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2900000 | &nbsp;&nbsp;&nbsp;&nbsp; 3024960 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85451485 |
| **Agriculture 0.1%** | **Agriculture 0.1%** | **Agriculture 0.1%** |
| Darling Ingredients, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 6/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1514342 |
| **Airlines 0.2%** | **Airlines 0.2%** | **Airlines 0.2%** |
| American Airlines, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784096 |
| &nbsp;&nbsp;&nbsp;5.75%, due 4/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3764345 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4548441 |
| **Apparel 0.0% ‡** | **Apparel 0.0% ‡** | **Apparel 0.0% ‡** |
| Under Armour, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 7/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629221 |
| **Auto Manufacturers 0.7%** | **Auto Manufacturers 0.7%** | **Auto Manufacturers 0.7%** |
| JB Poindexter & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 12/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15176145 |
| PM General Purchaser LLC |  |  |
| &nbsp;&nbsp;&nbsp;9.50%, due 10/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3579375 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18755520 |
| **Auto Parts & Equipment 2.6%** | **Auto Parts & Equipment 2.6%** | **Auto Parts & Equipment 2.6%** |
| Adient Global Holdings Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024747 |
| &nbsp;&nbsp;&nbsp;8.25%, due 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2097564 |
| American Axle & Manufacturing, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5425823 |
| &nbsp;&nbsp;&nbsp;7.75%, due 10/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625308 |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 2/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033010 |
| Forvia SE |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 9/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333485 |
| Garrett Motion Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 5/31/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196012 |
| IHO Verwaltungs GmbH (a)(b) |  |  |
| &nbsp;&nbsp;&nbsp;6.375% (6.375% Cash or 7.13% PIK), due 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11688902 |
| &nbsp;&nbsp;&nbsp;7.75% (7.75% Cash or 8.50% PIK), due 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9155118 |
| &nbsp;&nbsp;&nbsp;8.00% (8.00% Cash or 8.75% PIK), due 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4155794 |
| Phinia, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2720871 |
| &nbsp;&nbsp;&nbsp;6.75%, due 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3152383 |
| Real Hero Merger Sub 2, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 2/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6005736 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Auto Parts & Equipment** | **Auto Parts & Equipment** | **Auto Parts & Equipment** |
| Tenneco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 11/17/28 (a) | &nbsp;&nbsp;&nbsp;$6095000 | &nbsp;&nbsp;$6106127 |
| ZF North America Capital, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 4/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1650000 | &nbsp;&nbsp;&nbsp;&nbsp; 1672828 |
| &nbsp;&nbsp;&nbsp;7.125%, due 4/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1732837 |
| &nbsp;&nbsp;&nbsp;7.50%, due 3/24/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5515000 | &nbsp;&nbsp;&nbsp;&nbsp; 5477451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70603996 |
| **Banks 0.1%** | **Banks 0.1%** | **Banks 0.1%** |
| Walker & Dunlop, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 4/1/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329441 |
| **Building Materials 1.6%** | **Building Materials 1.6%** | **Building Materials 1.6%** |
| EMRLD Borrower LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7863810 |
| &nbsp;&nbsp;&nbsp;6.75%, due 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2934197 |
| James Hardie International Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8011000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7956025 |
| Knife River Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 5/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3950392 |
| New Enterprise Stone & Lime Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 7/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709081 |
| Quikrete Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13409001 |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4678622 |
| Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2052042 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44553170 |
| **Chemicals 4.0%** | **Chemicals 4.0%** | **Chemicals 4.0%** |
| ASP Unifrax Holdings, Inc. (a)(b) |  |  |
| &nbsp;&nbsp;&nbsp;7.10% (5.85% Cash and 1.25% PIK), due 9/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8972791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3534869 |
| &nbsp;&nbsp;&nbsp;11.175% (10.43% Cash or 11.175% PIK), due 9/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4201796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3865090 |
| Avient Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406500 |
| &nbsp;&nbsp;&nbsp;7.125%, due 8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3499107 |
| Celanese US Holdings LLC (c) |  |  |
| &nbsp;&nbsp;&nbsp;6.85%, due 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037731 |
| &nbsp;&nbsp;&nbsp;6.879%, due 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2554528 |
| &nbsp;&nbsp;&nbsp;7.05%, due 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3354757 |
| &nbsp;&nbsp;&nbsp;7.20%, due 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2079205 |
| GPD Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;12.50%, due 12/31/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6333715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4816410 |
| Innophos Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;11.50%, due 6/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12811050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12574922 |
| Inversion Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 8/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5063484 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Chemicals** | **Chemicals** | **Chemicals** |
| Mativ Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 10/1/29 (a) | &nbsp;&nbsp;&nbsp;$1550000 | &nbsp;&nbsp;$1534592 |
| NOVA Chemicals Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5350000 | &nbsp;&nbsp;&nbsp;&nbsp; 5365401 |
| &nbsp;&nbsp;&nbsp;7.00%, due 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2650000 | &nbsp;&nbsp;&nbsp;&nbsp; 2792074 |
| &nbsp;&nbsp;&nbsp;8.50%, due 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2985000 | &nbsp;&nbsp;&nbsp;&nbsp; 3123823 |
| &nbsp;&nbsp;&nbsp;9.00%, due 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5075000 | &nbsp;&nbsp;&nbsp;&nbsp; 5441136 |
| Olympus Water US Holding Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 10/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989696 |
| &nbsp;&nbsp;&nbsp;7.25%, due 2/15/33 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5505729 |
| &nbsp;&nbsp;&nbsp;9.75%, due 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8212338 |
| Qnity Electronics, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3526694 |
| &nbsp;&nbsp;&nbsp;6.25%, due 8/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2889956 |
| SCIH Salt Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5374645 |
| &nbsp;&nbsp;&nbsp;6.625%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372608 |
| SCIL IV LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 11/1/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3397258 |
| SK Invictus Intermediate II SARL |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/30/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10228017 |
| Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 9/30/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5227213 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109767783 |
| **Coal 0.3%** | **Coal 0.3%** | **Coal 0.3%** |
| Alliance Resource Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 6/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5001587 |
| Coronado Finance Pty. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;9.25%, due 10/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514178 |
| Warrior Met Coal, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, due 12/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356974 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7872739 |
| **Commercial Services 4.1%** | **Commercial Services 4.1%** | **Commercial Services 4.1%** |
| Alta Equipment Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.00%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726687 |
| AMN Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 1/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2507725 |
| Belron UK Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 10/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3576010 |
| Block, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855142 |
| &nbsp;&nbsp;&nbsp;6.00%, due 8/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179644 |
| Clarivate Science Holdings Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8502386 |
| &nbsp;&nbsp;&nbsp;4.875%, due 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15999336 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Commercial Services** | **Commercial Services** | **Commercial Services** |
| Dcli Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 11/15/29 (a) | &nbsp;&nbsp;&nbsp;$5730000 | &nbsp;&nbsp;$5957894 |
| GEO Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 4/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1645000 | &nbsp;&nbsp;&nbsp;&nbsp; 1741611 |
| &nbsp;&nbsp;&nbsp;10.25%, due 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4401272 |
| Graham Holdings Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 6/1/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11107000 | &nbsp;&nbsp;&nbsp;&nbsp; 11102474 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 6/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2368295 |
| Korn Ferry |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 12/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3972584 |
| Matthews International Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 10/1/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2944908 |
| NES Fircroft Bondco A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 9/30/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3910298 |
| NESCO Holdings II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7545776 |
| OT Midco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;10.00%, due 2/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3817168 |
| Raven Acquisition Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 11/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2928854 |
| Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5845632 |
| TriNet Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 8/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3563598 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1892040 |
| &nbsp;&nbsp;&nbsp;4.875%, due 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996947 |
| Williams Scotsman, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3952423 |
| &nbsp;&nbsp;&nbsp;6.625%, due 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4116991 |
| &nbsp;&nbsp;&nbsp;6.625%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161457 |
| &nbsp;&nbsp;&nbsp;7.375%, due 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114133665 |
| **Computers 0.6%** | **Computers 0.6%** | **Computers 0.6%** |
| Amentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 8/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6780530 |
| CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 6/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4075000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4203569 |
| Diebold Nixdorf, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 3/31/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635040 |
| McAfee Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, due 2/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2898723 |
| Science Applications International Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 11/1/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000621 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17518483 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Cosmetics & Personal Care 1.1%** | **Cosmetics & Personal Care 1.1%** | **Cosmetics & Personal Care 1.1%** |
| Edgewell Personal Care Co. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 4/1/29 | &nbsp;&nbsp;&nbsp;$6780000 | &nbsp;&nbsp;$6448807 |
| &nbsp;&nbsp;&nbsp;5.50%, due 6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3991443 |
| Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 9/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5033525 |
| Prestige Brands, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, due 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10940000 | &nbsp;&nbsp;&nbsp;&nbsp; 10076938 |
| &nbsp;&nbsp;&nbsp;5.125%, due 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4895000 | &nbsp;&nbsp;&nbsp;&nbsp; 4855019 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30405732 |
| **Distribution & Wholesale 0.6%** | **Distribution & Wholesale 0.6%** | **Distribution & Wholesale 0.6%** |
| Dealer Tire LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 2/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472608 |
| Gates Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 7/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037650 |
| RB Global Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022346 |
| &nbsp;&nbsp;&nbsp;7.75%, due 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6866353 |
| Velocity Vehicle Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3804928 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15203885 |
| **Diversified Financial Services 3.5%** | **Diversified Financial Services 3.5%** | **Diversified Financial Services 3.5%** |
| Aretec Group, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4848126 |
| &nbsp;&nbsp;&nbsp;10.00%, due 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2996133 |
| Enact Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 5/28/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1934421 |
| Jane Street Group (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9638948 |
| &nbsp;&nbsp;&nbsp;6.75%, due 5/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2856244 |
| &nbsp;&nbsp;&nbsp;7.125%, due 4/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13111153 |
| Jefferies Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 8/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5797108 |
| Osaic Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5778717 |
| &nbsp;&nbsp;&nbsp;8.00%, due 8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1891425 |
| PennyMac Financial Services, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559924 |
| &nbsp;&nbsp;&nbsp;5.75%, due 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1754646 |
| &nbsp;&nbsp;&nbsp;6.75%, due 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2754232 |
| &nbsp;&nbsp;&nbsp;6.875%, due 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033107 |
| &nbsp;&nbsp;&nbsp;7.125%, due 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165048 |
| Planet Financial Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;10.50%, due 12/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2812570 |
| Provident Funding Associates LP |  |  |
| &nbsp;&nbsp;&nbsp;9.75%, due 9/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595517 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Diversified Financial Services** | **Diversified Financial Services** | **Diversified Financial Services** |
| Rocket Cos., Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 8/1/30 | &nbsp;&nbsp;&nbsp;$5400000 | &nbsp;&nbsp;$5542128 |
| &nbsp;&nbsp;&nbsp;6.375%, due 8/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4140000 | &nbsp;&nbsp;&nbsp;&nbsp; 4272952 |
| Stonex Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 7/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6690000 | &nbsp;&nbsp;&nbsp;&nbsp; 6886127 |
| StoneX Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, due 3/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9464472 |
| UWM Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 3/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3747069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95440067 |
| **Electric 4.2%** | **Electric 4.2%** | **Electric 4.2%** |
| Alpha Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 10/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3354944 |
| Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 3/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4001137 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;Series A |  |  |
| &nbsp;&nbsp;&nbsp;5.375% (5 Year Treasury Constant Maturity Rate + 4.698%), due 3/9/26 (e)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199013 |
| EUSHI Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.25% (5 Year Treasury Constant Maturity Rate + 2.509%), due 4/1/56 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783273 |
| Keystone Power Pass-Through Holders LLC |  |  |
| &nbsp;&nbsp;&nbsp;13.00% (12.00% PIK), due 6/1/28 (a)(b)(g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480651 |
| Leeward Renewable Energy Operations LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 7/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3131000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950574 |
| Lightning Power LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10507756 |
| NRG Energy, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6992855 |
| &nbsp;&nbsp;&nbsp;6.00%, due 2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3046713 |
| &nbsp;&nbsp;&nbsp;6.00%, due 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11001580 |
| &nbsp;&nbsp;&nbsp;6.25%, due 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916920 |
| Pattern Energy Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2923885 |
| PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4725849 |
| &nbsp;&nbsp;&nbsp;5.25%, due 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3786797 |
| Talen Energy Supply LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 6/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14649238 |
| TransAlta Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3431343 |
| Vistra Corp. (a)(e)(f) |  |  |
| &nbsp;&nbsp;&nbsp;7.00% (5 Year Treasury Constant Maturity Rate + 5.74%), due 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2944283 |
| &nbsp;&nbsp;&nbsp;8.00% (5 Year Treasury Constant Maturity Rate + 6.93%), due 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8540864 |
| Vistra Operations Co. LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3289079 |
| &nbsp;&nbsp;&nbsp;6.875%, due 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2991208 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Electric** | **Electric** | **Electric** |
| XPLR Infrastructure Operating Partners LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 10/15/26 | &nbsp;&nbsp;&nbsp;$4000000 | &nbsp;&nbsp;$3942582 |
| &nbsp;&nbsp;&nbsp;4.50%, due 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1900000 | &nbsp;&nbsp;&nbsp;&nbsp; 1864037 |
| &nbsp;&nbsp;&nbsp;7.25%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1540086 |
| &nbsp;&nbsp;&nbsp;8.375%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3965000 | &nbsp;&nbsp;&nbsp;&nbsp; 4155320 |
| &nbsp;&nbsp;&nbsp;8.625%, due 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3465000 | &nbsp;&nbsp;&nbsp;&nbsp; 3633707 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114653694 |
| **Electrical Components & Equipment 0.6%** | **Electrical Components & Equipment 0.6%** | **Electrical Components & Equipment 0.6%** |
| EnerSys |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 1/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955246 |
| WESCO Distribution, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4180099 |
| &nbsp;&nbsp;&nbsp;6.375%, due 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767451 |
| &nbsp;&nbsp;&nbsp;6.625%, due 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4567373 |
| &nbsp;&nbsp;&nbsp;7.25%, due 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2532500 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15002669 |
| **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** |
| Sensata Technologies BV |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 9/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590955 |
| **Engineering & Construction 0.9%** | **Engineering & Construction 0.9%** | **Engineering & Construction 0.9%** |
| AECOM |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 8/1/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6113892 |
| Arcosa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4412983 |
| Artera Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 2/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3914648 |
| Great Lakes Dredge & Dock Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488069 |
| Weekley Homes LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 9/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5678875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23608467 |
| **Entertainment 4.8%** | **Entertainment 4.8%** | **Entertainment 4.8%** |
| Affinity Interactive |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 12/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3074000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752180 |
| Boyne USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 5/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4414922 |
| Brightstar Lottery plc |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 1/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5551722 |
| Caesars Entertainment, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7682687 |
| &nbsp;&nbsp;&nbsp;6.50%, due 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059964 |
| &nbsp;&nbsp;&nbsp;7.00%, due 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600126 |
| Churchill Downs, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12847000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12675750 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Entertainment** | **Entertainment** | **Entertainment** |
| Churchill Downs, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/1/27 | &nbsp;&nbsp;&nbsp;$10376000 | &nbsp;&nbsp;$10361425 |
| &nbsp;&nbsp;&nbsp;5.75%, due 4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6515000 | &nbsp;&nbsp;&nbsp;&nbsp; 6509126 |
| &nbsp;&nbsp;&nbsp;6.75%, due 5/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3340000 | &nbsp;&nbsp;&nbsp;&nbsp; 3423016 |
| Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 6/4/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1522530 |
| Jacobs Entertainment, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6470000 | &nbsp;&nbsp;&nbsp;&nbsp; 6316079 |
| &nbsp;&nbsp;&nbsp;6.75%, due 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2260970 |
| Light & Wonder International, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 10/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3375729 |
| &nbsp;&nbsp;&nbsp;7.25%, due 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3284387 |
| &nbsp;&nbsp;&nbsp;7.50%, due 9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5095794 |
| Live Nation Entertainment, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986766 |
| &nbsp;&nbsp;&nbsp;6.50%, due 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6918415 |
| Merlin Entertainments Group US Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, due 2/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2972872 |
| Midwest Gaming Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 5/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1944201 |
| Motion Bondco DAC |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 11/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4405582 |
| Motion Finco SARL |  |  |
| &nbsp;&nbsp;&nbsp;8.375%, due 2/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3203647 |
| Rivers Enterprise Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 2/1/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4894403 |
| Rivers Enterprise Lender LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 10/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5649932 |
| Vail Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 7/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2711844 |
| Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;9.25%, due 7/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6873686 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.279%, due 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5497500 |
| &nbsp;&nbsp;&nbsp;5.05%, due 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2953784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130899039 |
| **Environmental Control 0.3%** | **Environmental Control 0.3%** | **Environmental Control 0.3%** |
| Clean Harbors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 10/15/33 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3026207 |
| Luna 1.5 SARL |  |  |
| &nbsp;&nbsp;&nbsp;12.00%, due 7/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3054596 |
| Waste Pro USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 2/1/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2879516 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8960319 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Food 1.6%** | **Food 1.6%** | **Food 1.6%** |
| C&S Group Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 12/15/28 (a) | &nbsp;&nbsp;&nbsp;$1000000 | &nbsp;&nbsp;$904577 |
| Chobani Holdco II LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.75% (8.75% Cash or 9.50% PIK), due 10/1/29 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6668767 | &nbsp;&nbsp;&nbsp;&nbsp; 6759723 |
| Chobani LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, due 7/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4785000 | &nbsp;&nbsp;&nbsp;&nbsp; 4989544 |
| Land O'Lakes Capital Trust I |  |  |
| &nbsp;&nbsp;&nbsp;7.45%, due 3/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5130000 | &nbsp;&nbsp;&nbsp;&nbsp; 5291174 |
| Performance Food Group, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457080 |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995054 |
| &nbsp;&nbsp;&nbsp;6.125%, due 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072933 |
| Post Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245010 |
| &nbsp;&nbsp;&nbsp;6.375%, due 3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766291 |
| Simmons Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 3/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10808986 |
| United Natural Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 10/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6715000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6714468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45004840 |
| **Forest Products & Paper 0.6%** | **Forest Products & Paper 0.6%** | **Forest Products & Paper 0.6%** |
| Mercer International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10758198 |
| &nbsp;&nbsp;&nbsp;12.875%, due 10/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6516003 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17274201 |
| **Gas 0.2%** | **Gas 0.2%** | **Gas 0.2%** |
| AltaGas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.20% (5 Year Treasury Constant Maturity Rate + 3.573%), due 10/15/54 (a)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5689271 |
| **Healthcare-Products 1.7%** | **Healthcare-Products 1.7%** | **Healthcare-Products 1.7%** |
| 180 Medical, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 10/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3130359 |
| Bausch + Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.375%, due 10/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7910203 |
| Hologic, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8207529 |
| &nbsp;&nbsp;&nbsp;4.625%, due 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985097 |
| Neogen Food Safety Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 7/20/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4548878 |
| Teleflex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9386036 |
| &nbsp;&nbsp;&nbsp;4.625%, due 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3467865 |
| Varex Imaging Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, due 10/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9237000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9405658 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48041625 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Healthcare-Services 3.4%** | **Healthcare-Services 3.4%** | **Healthcare-Services 3.4%** |
| Acadia Healthcare Co., Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 4/15/29 | &nbsp;&nbsp;&nbsp;$1750000 | &nbsp;&nbsp;$1713218 |
| &nbsp;&nbsp;&nbsp;5.50%, due 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1850000 | &nbsp;&nbsp;&nbsp;&nbsp; 1834371 |
| CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.75%, due 1/15/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1595000 | &nbsp;&nbsp;&nbsp;&nbsp; 1634078 |
| DaVita, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, due 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1831796 |
| &nbsp;&nbsp;&nbsp;4.625%, due 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4650000 | &nbsp;&nbsp;&nbsp;&nbsp; 4456508 |
| Encompass Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5452925 |
| &nbsp;&nbsp;&nbsp;4.625%, due 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3770325 |
| &nbsp;&nbsp;&nbsp;4.75%, due 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7560341 |
| Fortrea Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 7/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2225310 |
| Global Medical Response, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, due 10/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4220171 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 11/6/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8813481 |
| HealthEquity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2957357 |
| IQVIA, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8997000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8986023 |
| &nbsp;&nbsp;&nbsp;6.25%, due 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9458897 |
| &nbsp;&nbsp;&nbsp;6.50%, due 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2066976 |
| LifePoint Health, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4667250 |
| &nbsp;&nbsp;&nbsp;8.375%, due 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5062114 |
| &nbsp;&nbsp;&nbsp;10.00%, due 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6845733 |
| &nbsp;&nbsp;&nbsp;11.00%, due 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5940626 |
| Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 5/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907427 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 5/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2588197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92993124 |
| **Holding Companies-Diversified 0.5%** | **Holding Companies-Diversified 0.5%** | **Holding Companies-Diversified 0.5%** |
| Stena International SA (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7467977 |
| &nbsp;&nbsp;&nbsp;7.625%, due 2/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6875230 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14343207 |
| **Home Builders 1.5%** | **Home Builders 1.5%** | **Home Builders 1.5%** |
| Brookfield Residential Properties, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 9/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990326 |
| Century Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 8/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3763069 |
| &nbsp;&nbsp;&nbsp;6.75%, due 6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6773195 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Home Builders** | **Home Builders** | **Home Builders** |
| Installed Building Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 2/1/28 (a) | &nbsp;&nbsp;&nbsp;$6945000 | &nbsp;&nbsp;$6933396 |
| M/I Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.95%, due 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1695000 | &nbsp;&nbsp;&nbsp;&nbsp; 1618796 |
| &nbsp;&nbsp;&nbsp;4.95%, due 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2978810 |
| Shea Homes LP |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7300000 | &nbsp;&nbsp;&nbsp;&nbsp; 7206840 |
| &nbsp;&nbsp;&nbsp;4.75%, due 4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1628000 | &nbsp;&nbsp;&nbsp;&nbsp; 1594007 |
| STL Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 2/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405727 |
| Winnebago Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 7/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3992129 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42256295 |
| **Household Products & Wares 0.2%** | **Household Products & Wares 0.2%** | **Household Products & Wares 0.2%** |
| Central Garden & Pet Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203667 |
| &nbsp;&nbsp;&nbsp;4.125%, due 4/30/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4823000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4499793 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6703460 |
| **Housewares 1.2%** | **Housewares 1.2%** | **Housewares 1.2%** |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8050206 |
| &nbsp;&nbsp;&nbsp;6.625%, due 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503523 |
| &nbsp;&nbsp;&nbsp;8.50%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3321291 |
| Scotts Miracle-Gro Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6459882 |
| &nbsp;&nbsp;&nbsp;4.375%, due 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4053346 |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6217961 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31606209 |
| **Insurance 1.2%** | **Insurance 1.2%** | **Insurance 1.2%** |
| Baldwin Insurance Group Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 5/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3114150 |
| Broadstreet Partners Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 4/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4013277 |
| Fairfax Financial Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.30%, due 4/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4273000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4358326 |
| HUB International Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231817 |
| &nbsp;&nbsp;&nbsp;7.375%, due 1/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103819 |
| MGIC Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 8/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6708000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6695026 |
| NMI Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033540 |
| Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 6/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3692419 |
| Ryan Specialty LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, due 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968885 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Insurance** | **Insurance** | **Insurance** |
| Ryan Specialty LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 8/1/32 | &nbsp;&nbsp;&nbsp;$3855000 | &nbsp;&nbsp;$3898122 |
| USI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 1/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2097357 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33206738 |
| **Internet 0.9%** | **Internet 0.9%** | **Internet 0.9%** |
| Arches Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 979941 |
| Cars.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 11/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5836236 |
| Cogent Communications Group LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011605 |
| &nbsp;&nbsp;&nbsp;7.00%, due 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2637973 |
| Gen Digital, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786538 |
| &nbsp;&nbsp;&nbsp;6.75%, due 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4162837 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 9/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2521963 |
| Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4217972 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25155065 |
| **Investment Companies 0.4%** | **Investment Companies 0.4%** | **Investment Companies 0.4%** |
| Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2677227 |
| Compass Group Diversified Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 4/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6003250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5545979 |
| Icahn Enterprises LP |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 5/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982946 |
| &nbsp;&nbsp;&nbsp;6.25%, due 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799055 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10005207 |
| **Iron & Steel 2.0%** | **Iron & Steel 2.0%** | **Iron & Steel 2.0%** |
| Allegheny Ludlum LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.95%, due 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7416887 |
| Big River Steel LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 1/31/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8633374 |
| Mineral Resources Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8382046 |
| &nbsp;&nbsp;&nbsp;8.125%, due 5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13439000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13438543 |
| &nbsp;&nbsp;&nbsp;8.50%, due 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6890994 |
| &nbsp;&nbsp;&nbsp;9.25%, due 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9231197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53993041 |
| **Leisure Time 0.5%** | **Leisure Time 0.5%** | **Leisure Time 0.5%** |
| Carnival Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4355000 |
| &nbsp;&nbsp;&nbsp;5.75%, due 8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6920211 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Leisure Time** | **Leisure Time** | **Leisure Time** |
| MajorDrive Holdings IV LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;$3760000 | &nbsp;&nbsp;$3081220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14356431 |
| **Lodging 2.2%** | **Lodging 2.2%** | **Lodging 2.2%** |
| Boyd Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11630000 | &nbsp;&nbsp;&nbsp;&nbsp; 11563249 |
| &nbsp;&nbsp;&nbsp;4.75%, due 6/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13995000 | &nbsp;&nbsp;&nbsp;&nbsp; 13491265 |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 5/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9925960 |
| &nbsp;&nbsp;&nbsp;4.875%, due 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9020000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8969407 |
| &nbsp;&nbsp;&nbsp;5.75%, due 5/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2202677 |
| &nbsp;&nbsp;&nbsp;5.75%, due 9/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3273121 |
| &nbsp;&nbsp;&nbsp;5.875%, due 3/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7655970 |
| &nbsp;&nbsp;&nbsp;6.125%, due 4/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056062 |
| Wynn Macau Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 2/15/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737143 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61874854 |
| **Machinery—Construction & Mining 0.3%** | **Machinery—Construction & Mining 0.3%** | **Machinery—Construction & Mining 0.3%** |
| Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2117330 |
| Vertiv Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 11/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6596118 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8713448 |
| **Machinery-Diversified 0.9%** | **Machinery-Diversified 0.9%** | **Machinery-Diversified 0.9%** |
| Briggs & Stratton Corp. Escrow Claim Shares |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 12/15/20 (g)(h)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 1/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3122205 |
| Maxim Crane Works Holdings Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;11.50%, due 9/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4345430 |
| Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.05%, due 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1758471 |
| &nbsp;&nbsp;&nbsp;6.05%, due 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810256 |
| &nbsp;&nbsp;&nbsp;6.30%, due 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643464 |
| &nbsp;&nbsp;&nbsp;6.40%, due 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610320 |
| TK Elevator U.S. Newco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 7/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11160400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25450546 |
| **Media 5.6%** | **Media 5.6%** | **Media 5.6%** |
| Block Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 3/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3344306 |
| Cable One, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 11/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261972 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 2/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8291082 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Media** | **Media** | **Media** |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 1/15/34 (a) | &nbsp;&nbsp;&nbsp;$4250000 | &nbsp;&nbsp;$3674393 |
| &nbsp;&nbsp;&nbsp;4.50%, due 8/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3777659 |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13600000 | &nbsp;&nbsp;&nbsp;&nbsp; 12376900 |
| &nbsp;&nbsp;&nbsp;4.75%, due 3/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7715000 | &nbsp;&nbsp;&nbsp;&nbsp; 7403059 |
| &nbsp;&nbsp;&nbsp;5.00%, due 2/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7500000 | &nbsp;&nbsp;&nbsp;&nbsp; 7427777 |
| &nbsp;&nbsp;&nbsp;5.125%, due 5/1/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6750000 | &nbsp;&nbsp;&nbsp;&nbsp; 6704672 |
| &nbsp;&nbsp;&nbsp;5.375%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3973326 |
| CSC Holdings LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2705016 |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903900 |
| &nbsp;&nbsp;&nbsp;6.50%, due 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3769285 |
| &nbsp;&nbsp;&nbsp;7.50%, due 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2552724 |
| &nbsp;&nbsp;&nbsp;11.25%, due 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3429933 |
| &nbsp;&nbsp;&nbsp;11.75%, due 1/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3792658 |
| Directv Financing LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 8/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4096399 |
| &nbsp;&nbsp;&nbsp;8.875%, due 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2503873 |
| Discovery Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3233320 |
| &nbsp;&nbsp;&nbsp;4.125%, due 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2916375 |
| Gray Media, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 8/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739984 |
| &nbsp;&nbsp;&nbsp;9.625%, due 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4137634 |
| &nbsp;&nbsp;&nbsp;10.50%, due 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3681660 |
| LCPR Senior Secured Financing DAC (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 7/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233875 |
| &nbsp;&nbsp;&nbsp;6.75%, due 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14086000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8434200 |
| Midcontinent Communications |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060606 |
| News Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6374620 |
| &nbsp;&nbsp;&nbsp;5.125%, due 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3599716 |
| Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.125%, due 2/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5567515 |
| Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 7/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2657254 |
| TEGNA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980651 |
| &nbsp;&nbsp;&nbsp;5.00%, due 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596903 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.375%, due 8/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204056 |
| Videotron Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 4/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000165 |
| Virgin Media Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5930437 |
| Virgin Media Secured Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 5/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3509866 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Media** | **Media** | **Media** |
| VZ Secured Financing BV |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 1/15/32 (a) | &nbsp;&nbsp;&nbsp;$3250000 | &nbsp;&nbsp;$2940334 |
| Ziggo BV |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 1/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2359642 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155147747 |
| **Metal Fabricate & Hardware 0.4%** | **Metal Fabricate & Hardware 0.4%** | **Metal Fabricate & Hardware 0.4%** |
| Advanced Drainage Systems, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2275000 | &nbsp;&nbsp;&nbsp;&nbsp; 2269281 |
| &nbsp;&nbsp;&nbsp;6.375%, due 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3083664 |
| Park-Ohio Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 8/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3312033 |
| Vallourec SACA |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 4/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2881000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3069605 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11734583 |
| **Mining 1.8%** | **Mining 1.8%** | **Mining 1.8%** |
| Alcoa Nederland Holding BV |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 3/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4625201 |
| Alumina Pty. Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556740 |
| &nbsp;&nbsp;&nbsp;6.375%, due 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4233808 |
| Century Aluminum Co. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 8/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5461828 |
| Compass Minerals International, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888840 |
| &nbsp;&nbsp;&nbsp;8.00%, due 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3893284 |
| Eldorado Gold Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 9/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6482000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6505674 |
| First Quantum Minerals Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3050161 |
| &nbsp;&nbsp;&nbsp;8.625%, due 6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1602414 |
| &nbsp;&nbsp;&nbsp;9.375%, due 3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5643568 |
| IAMGOLD Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 10/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10547007 |
| New Gold, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 4/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047423 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50055948 |
| **Miscellaneous—Manufacturing 0.9%** | **Miscellaneous—Manufacturing 0.9%** | **Miscellaneous—Manufacturing 0.9%** |
| Amsted Industries, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2527082 |
| &nbsp;&nbsp;&nbsp;6.375%, due 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3079140 |
| Axon Enterprise, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 3/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027028 |
| Calderys Financing II LLC |  |  |
| &nbsp;&nbsp;&nbsp;11.75% (11.75% Cash or 12.50% PIK), due 6/1/28 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6471736 |
| Calderys Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;11.25%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3631623 |

---

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---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Miscellaneous—Manufacturing** | **Miscellaneous—Manufacturing** | **Miscellaneous—Manufacturing** |
| Enpro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 6/1/33 (a) | &nbsp;&nbsp;&nbsp;$2100000 | &nbsp;&nbsp;$2146291 |
| LSB Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 10/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2735000 | &nbsp;&nbsp;&nbsp;&nbsp; 2698002 |
| Trinity Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 7/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4137592 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25718494 |
| **Office Furnishings 0.1%** | **Office Furnishings 0.1%** | **Office Furnishings 0.1%** |
| Interface, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 12/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3858494 |
| **Oil & Gas 5.7%** | **Oil & Gas 5.7%** | **Oil & Gas 5.7%** |
| Ascent Resources Utica Holdings LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2194004 |
| &nbsp;&nbsp;&nbsp;9.00%, due 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3242675 |
| California Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 2/1/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574625 |
| Chord Energy Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3848019 |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1975718 |
| Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/15/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343509 |
| Comstock Resources, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246325 |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4970000 |
| Constellation Oil Services Holding SA |  |  |
| &nbsp;&nbsp;&nbsp;9.375%, due 11/7/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3075000 |
| Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, due 4/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681352 |
| Diamond Foreign Asset Co. |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 10/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6905000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7317132 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023756 |
| Gulfport Energy Operating Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 9/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3519844 |
| Hilcorp Energy I LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1586009 |
| &nbsp;&nbsp;&nbsp;6.00%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982747 |
| &nbsp;&nbsp;&nbsp;6.00%, due 2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2903627 |
| Matador Resources Co. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4139360 |
| &nbsp;&nbsp;&nbsp;6.50%, due 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4189711 |
| Moss Creek Resources Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 9/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4115615 |
| Murphy Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 10/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2614546 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Oil & Gas** | **Oil & Gas** | **Oil & Gas** |
| Noble Finance II LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 4/15/30 (a) | &nbsp;&nbsp;&nbsp;$9250000 | &nbsp;&nbsp;$9574296 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.45%, due 9/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp;&nbsp; 3294268 |
| Parkland Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4869411 |
| &nbsp;&nbsp;&nbsp;4.625%, due 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4861314 |
| &nbsp;&nbsp;&nbsp;5.875%, due 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3825000 | &nbsp;&nbsp;&nbsp;&nbsp; 3821777 |
| &nbsp;&nbsp;&nbsp;6.625%, due 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027562 |
| Parkland Corp. Escrow Claim Shares (g)(h) |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;4.625%, due 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;5.875%, due 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;6.625%, due 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| PBF Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;9.875%, due 3/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2515349 |
| Range Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 2/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978126 |
| &nbsp;&nbsp;&nbsp;8.25%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1652938 |
| Seadrill Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.375%, due 8/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4646231 |
| SM Energy Co. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3541895 |
| &nbsp;&nbsp;&nbsp;7.00%, due 8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481912 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2998871 |
| Talos Production, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;9.00%, due 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5221841 |
| &nbsp;&nbsp;&nbsp;9.375%, due 2/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6374139 |
| TGNR Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9697376 |
| Transocean Aquila Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 9/30/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205849 |
| Transocean International Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 5/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985866 |
| &nbsp;&nbsp;&nbsp;8.75%, due 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7008750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7374404 |
| Transocean Poseidon Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 2/1/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5125950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5121407 |
| Transocean Titan Financing Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.375%, due 2/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073599 |
| Vital Energy, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 7/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4723779 |
| &nbsp;&nbsp;&nbsp;7.875%, due 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4669246 |
| Wildfire Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 10/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4556791 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157811821 |

---

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---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Oil & Gas Services 1.3%** | **Oil & Gas Services 1.3%** | **Oil & Gas Services 1.3%** |
| Bristow Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 3/1/28 (a) | &nbsp;&nbsp;&nbsp;$8135000 | &nbsp;&nbsp;$8179824 |
| Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 10/1/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4160000 | &nbsp;&nbsp;&nbsp;&nbsp; 4235611 |
| Nine Energy Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;13.00%, due 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7825000 | &nbsp;&nbsp;&nbsp;&nbsp; 3912500 |
| Oceaneering International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2965000 | &nbsp;&nbsp;&nbsp;&nbsp; 3001671 |
| SESI LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.875%, due 9/30/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700000 |
| Tidewater, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.125%, due 7/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5871662 |
| Weatherford International Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 10/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3502435 |
| &nbsp;&nbsp;&nbsp;8.625%, due 4/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3577879 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36981582 |
| **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** |
| Cascades USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 1/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4762229 |
| Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 7/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816059 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5578288 |
| **Pharmaceuticals 2.2%** | **Pharmaceuticals 2.2%** | **Pharmaceuticals 2.2%** |
| 1261229 BC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;10.00%, due 4/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5330271 |
| Bausch Health Cos., Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;11.00%, due 9/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9115768 |
| &nbsp;&nbsp;&nbsp;14.00%, due 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347867 |
| BellRing Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 3/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6991589 |
| Endo Finance Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 4/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10176162 |
| Jazz Securities DAC |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, due 1/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11885683 |
| Organon & Co. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 4/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8405439 |
| &nbsp;&nbsp;&nbsp;5.125%, due 4/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7884441 |
| Par Pharmaceutical, Inc. Escrow Claim Shares |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 4/1/27 (g)(h)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60137220 |
| **Pipelines 4.0%** | **Pipelines 4.0%** | **Pipelines 4.0%** |
| Antero Midstream Partners LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262523 |
| &nbsp;&nbsp;&nbsp;5.75%, due 10/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737806 |
| Buckeye Partners LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077298 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Pipelines** | **Pipelines** | **Pipelines** |
| Buckeye Partners LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 7/1/29 | &nbsp;&nbsp;&nbsp;$3875000 | &nbsp;&nbsp;$4015942 |
| CNX Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 4/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2285000 | &nbsp;&nbsp;&nbsp;&nbsp; 2191168 |
| DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, due 6/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1485000 | &nbsp;&nbsp;&nbsp;&nbsp; 1435155 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;4.40%, due 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3978000 | &nbsp;&nbsp;&nbsp;&nbsp; 3991504 |
| &nbsp;&nbsp;&nbsp;6.50% (5 Year Treasury Constant Maturity Rate + 2.676%), due 2/15/56 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2841618 |
| Excelerate Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 5/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7839814 |
| Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4934516 |
| Global Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 7/1/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112107 |
| Harvest Midstream I LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6965000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7039950 |
| &nbsp;&nbsp;&nbsp;7.50%, due 5/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225806 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 3/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2956202 |
| ITT Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 8/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6056109 |
| Northwest Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2204882 |
| Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;Series B |  |  |
| &nbsp;&nbsp;&nbsp;8.583% (3 Month SOFR + 4.372%), due 11/15/2173 (e)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14286383 |
| Prairie Acquiror LP |  |  |
| &nbsp;&nbsp;&nbsp;9.00%, due 8/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5127440 |
| Tallgrass Energy Partners LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989825 |
| &nbsp;&nbsp;&nbsp;6.00%, due 3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2749355 |
| &nbsp;&nbsp;&nbsp;6.00%, due 12/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2468823 |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4875570 |
| &nbsp;&nbsp;&nbsp;7.375%, due 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8238744 |
| TransMontaigne Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 6/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3542869 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.125%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3938441 |
| Venture Global Plaquemines LNG LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5252761 |
| &nbsp;&nbsp;&nbsp;6.75%, due 1/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2384587 |
| &nbsp;&nbsp;&nbsp;7.50%, due 5/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773507 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;4.65%, due 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001755 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111552460 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Real Estate Investment Trusts 2.3%** | **Real Estate Investment Trusts 2.3%** | **Real Estate Investment Trusts 2.3%** |
| Blackstone Mortgage Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 12/1/29 (a) | &nbsp;&nbsp;&nbsp;$2500000 | &nbsp;&nbsp;$2637683 |
| CTR Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 6/30/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2917967 |
| Millrose Properties, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2750000 | &nbsp;&nbsp;&nbsp;&nbsp; 2757188 |
| &nbsp;&nbsp;&nbsp;6.375%, due 8/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4576455 |
| MPT Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420106 |
| &nbsp;&nbsp;&nbsp;5.00%, due 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5222411 |
| &nbsp;&nbsp;&nbsp;8.50%, due 2/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400198 |
| RHP Hotel Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 2/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2081000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040885 |
| &nbsp;&nbsp;&nbsp;4.75%, due 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7606495 |
| &nbsp;&nbsp;&nbsp;6.50%, due 4/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5438598 |
| &nbsp;&nbsp;&nbsp;6.50%, due 6/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2554127 |
| &nbsp;&nbsp;&nbsp;7.25%, due 7/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2285038 |
| Starwood Property Trust, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000869 |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/15/31 (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2753286 |
| Uniti Group LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3574298 |
| &nbsp;&nbsp;&nbsp;6.50%, due 2/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5583158 |
| &nbsp;&nbsp;&nbsp;10.50%, due 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5149000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5422927 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64191689 |
| **Retail 5.6%** | **Retail 5.6%** | **Retail 5.6%** |
| 1011778 B.C. Unlimited Liability Co. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6017340 |
| &nbsp;&nbsp;&nbsp;4.00%, due 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13387125 |
| &nbsp;&nbsp;&nbsp;5.625%, due 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012025 |
| &nbsp;&nbsp;&nbsp;6.125%, due 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4994922 |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4574369 |
| &nbsp;&nbsp;&nbsp;4.625%, due 11/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940956 |
| &nbsp;&nbsp;&nbsp;4.75%, due 3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5212000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5076069 |
| &nbsp;&nbsp;&nbsp;5.00%, due 2/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256546 |
| Cougar JV Subsidiary LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 5/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445355 |
| Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 1/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483399 |
| Ken Garff Automotive LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 9/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7685913 |
| KFC Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 6/1/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5116869 |
| LCM Investments Holdings II LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12276301 |
| &nbsp;&nbsp;&nbsp;8.25%, due 8/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3701614 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Retail** | **Retail** | **Retail** |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 10/1/30 (a) | &nbsp;&nbsp;&nbsp;$2735000 | &nbsp;&nbsp;$2731581 |
| Murphy Oil USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2958089 |
| &nbsp;&nbsp;&nbsp;5.625%, due 5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2994000 | &nbsp;&nbsp;&nbsp;&nbsp; 2995365 |
| Papa John's International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 9/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5250000 | &nbsp;&nbsp;&nbsp;&nbsp; 5016575 |
| Patrick Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 5/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1758313 |
| PetSmart LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 9/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2403567 |
| QXO Building Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 4/30/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4245124 |
| Saks Global Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;11.00%, due 12/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6111550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082513 |
| SGUS LLC |  |  |
| &nbsp;&nbsp;&nbsp;11.00%, due 12/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11092630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10456756 |
| Sonic Automotive, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2913554 |
| &nbsp;&nbsp;&nbsp;4.875%, due 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2467027 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10630654 |
| &nbsp;&nbsp;&nbsp;4.625%, due 1/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10639199 |
| &nbsp;&nbsp;&nbsp;4.75%, due 1/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8837000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8782181 |
| &nbsp;&nbsp;&nbsp;5.375%, due 4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8265918 |
| &nbsp;&nbsp;&nbsp;6.875%, due 11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223579 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153538798 |
| **Semiconductors 0.1%** | **Semiconductors 0.1%** | **Semiconductors 0.1%** |
| Amkor Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 10/1/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3919511 |
| **Software 2.9%** | **Software 2.9%** | **Software 2.9%** |
| Camelot Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 11/1/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637806 |
| Cloud Software Group, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 3/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7567652 |
| &nbsp;&nbsp;&nbsp;6.625%, due 8/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3995509 |
| &nbsp;&nbsp;&nbsp;8.25%, due 6/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2651884 |
| &nbsp;&nbsp;&nbsp;9.00%, due 9/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3796175 |
| Fair Isaac Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3219000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3218521 |
| &nbsp;&nbsp;&nbsp;6.00%, due 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5821548 |
| MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 2/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395351 |
| Open Text Corp. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, due 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4118248 |
| &nbsp;&nbsp;&nbsp;6.90%, due 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3277313 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Software** | **Software** | **Software** |
| Open Text Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 2/15/30 | &nbsp;&nbsp;&nbsp;$10134000 | &nbsp;&nbsp;$9599907 |
| &nbsp;&nbsp;&nbsp;4.125%, due 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3450000 | &nbsp;&nbsp;&nbsp;&nbsp; 3190541 |
| PTC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 2/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9236000 | &nbsp;&nbsp;&nbsp;&nbsp; 9042492 |
| SS&C Technologies, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5885000 | &nbsp;&nbsp;&nbsp;&nbsp; 5874834 |
| &nbsp;&nbsp;&nbsp;6.50%, due 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4652267 |
| UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 2/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9699249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79539297 |
| **Telecommunications 2.2%** | **Telecommunications 2.2%** | **Telecommunications 2.2%** |
| Connect Finco SARL |  |  |
| &nbsp;&nbsp;&nbsp;9.00%, due 9/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1577107 |
| EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.75% (6.75% PIK), due 11/30/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6368357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6417393 |
| &nbsp;&nbsp;&nbsp;10.75%, due 11/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5599865 |
| Frontier Communications Holdings LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 5/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322020 |
| &nbsp;&nbsp;&nbsp;5.875%, due 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3792708 |
| &nbsp;&nbsp;&nbsp;8.625%, due 3/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4955027 |
| Maya SAS (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1524046 |
| &nbsp;&nbsp;&nbsp;7.00%, due 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059412 |
| &nbsp;&nbsp;&nbsp;8.50%, due 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876863 |
| Rogers Communications, Inc. (e) |  |  |
| &nbsp;&nbsp;&nbsp;Series NC5 |  |  |
| &nbsp;&nbsp;&nbsp;7.00% (5 Year Treasury Constant Maturity Rate + 2.653%), due 4/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440253 |
| &nbsp;&nbsp;&nbsp;7.125% (5 Year Treasury Constant Maturity Rate + 2.62%), due 4/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3058570 |
| Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7099279 |
| TELUS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.625% (5 Year Treasury Constant Maturity Rate + 2.769%), due 10/15/55 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3423122 |
| Vmed O2 UK Financing I plc |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 4/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3362041 |
| Windstream Services LLC (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 10/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2999190 |
| &nbsp;&nbsp;&nbsp;8.25%, due 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8105733 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61612629 |
| **Transportation 1.4%** | **Transportation 1.4%** | **Transportation 1.4%** |
| Beacon Mobility Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 8/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039659 |
| Clue Opco LLC |  |  |
| &nbsp;&nbsp;&nbsp;9.50%, due 10/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2876925 |
| Genesee & Wyoming, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 4/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270177 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Transportation** | **Transportation** | **Transportation** |
| Seaspan Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 8/1/29 (a) | &nbsp;&nbsp;&nbsp;$6765000 | &nbsp;&nbsp;$6522611 |
| Star Leasing Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, due 2/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12450000 | &nbsp;&nbsp;&nbsp;&nbsp; 12098060 |
| Stonepeak Nile Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 3/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1579548 |
| Watco Cos. LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 8/1/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13425000 | &nbsp;&nbsp;&nbsp;&nbsp; 13895816 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39282796 |
| Total Corporate Bonds<br> (Cost $2,520,950,728) |  | &nbsp;&nbsp;&nbsp;&nbsp;2506800827 |
| **Loan Assignments 6.6%** | **Loan Assignments 6.6%** | **Loan Assignments 6.6%** |
| **Aerospace & Defense 0.2%** | **Aerospace & Defense 0.2%** | **Aerospace & Defense 0.2%** |
| Chromalloy Corp. | Chromalloy Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.542% (3 Month SOFR + 3.25%), due 3/27/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4432803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4439727 |
| **Automobile 0.3%** | **Automobile 0.3%** | **Automobile 0.3%** |
| Clarios Global LP | Clarios Global LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Amendment No. 6 Dollar Term Loan | &nbsp;&nbsp;&nbsp;First Lien Amendment No. 6 Dollar Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 1/28/32 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992500 |
| Tenneco, Inc. | Tenneco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B 9.102% - 9.304% | &nbsp;&nbsp;&nbsp;First Lien Term Loan B 9.102% - 9.304% |  |
| &nbsp;&nbsp;&nbsp;(3 Month SOFR + 5.00%), due 11/17/28 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4743572 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7736072 |
| **Banking 0.1%** | **Banking 0.1%** | **Banking 0.1%** |
| Jane Street Group LLC | Jane Street Group LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Extended Term Loan | &nbsp;&nbsp;&nbsp;First Lien Extended Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.199% (3 Month SOFR + 2.00%), due 12/15/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3436856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3407319 |
| **Beverage, Food & Tobacco 0.2%** | **Beverage, Food & Tobacco 0.2%** | **Beverage, Food & Tobacco 0.2%** |
| B&G Foods, Inc. | B&G Foods, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B5 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B5 |  |
| &nbsp;&nbsp;&nbsp;7.663% (1 Month SOFR + 3.50%), due 10/10/29 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3257754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3116042 |
| Clover Holdings 2 LLC | Clover Holdings 2 LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Floating Rate Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Floating Rate Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.942% (1 Month SOFR + 3.75%), due 12/9/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790674 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5906716 |
| **Broadcasting & Entertainment 0.0% ‡** | **Broadcasting & Entertainment 0.0% ‡** | **Broadcasting & Entertainment 0.0% ‡** |
| Gray Television, Inc. | Gray Television, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;11.50% (PRIME + 4.25%), due 5/23/29 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55294 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Capital Equipment 0.4%** | **Capital Equipment 0.4%** | **Capital Equipment 0.4%** |
| TK Elevator Midco GmbH | TK Elevator Midco GmbH |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.197% (6 Month SOFR + 3.00%), due 4/30/30 (e) | &nbsp;&nbsp;&nbsp;$9753166 | &nbsp;&nbsp;$9774350 |
| **Cargo Transport 0.4%** | **Cargo Transport 0.4%** | **Cargo Transport 0.4%** |
| Clue Opco LLC | Clue Opco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.81% (3 Month SOFR + 4.50%), due 12/19/30 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5530444 | &nbsp;&nbsp;&nbsp;&nbsp; 5502792 |
| Genesee & Wyoming, Inc. | Genesee & Wyoming, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;5.752% (3 Month SOFR + 1.75%), due 4/10/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2957211 |
| NA Rail Hold Co. LLC | NA Rail Hold Co. LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B3 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B3 |  |
| &nbsp;&nbsp;&nbsp;7.123% (3 Month SOFR + 3.00%), due 3/8/32 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499991 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9959994 |
| **Chemicals 0.1%** | **Chemicals 0.1%** | **Chemicals 0.1%** |
| ASP Unifrax Holdings, Inc. | ASP Unifrax Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;12.046% (4.75% PIK) (3 Month SOFR + 7.75%), due 9/28/29 (b)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3643075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3351629 |
| **Chemicals, Plastics & Rubber 0.3%** | **Chemicals, Plastics & Rubber 0.3%** | **Chemicals, Plastics & Rubber 0.3%** |
| Innophos Holdings, Inc. | Innophos Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.528% (1 Month SOFR + 4.25%), due 3/16/29 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775301 |
| Jazz Financing Lux SARL | Jazz Financing Lux SARL |  |
| &nbsp;&nbsp;&nbsp;First Lien Dollar Tranche Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Dollar Tranche Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 5/5/28 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6441784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6448940 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8224241 |
| **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** |
| Camelot US Acquisition LLC | Camelot US Acquisition LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.913% (1 Month SOFR + 2.75%), due 1/31/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2324709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310180 |
| **Energy (Electricity) 0.3%** | **Energy (Electricity) 0.3%** | **Energy (Electricity) 0.3%** |
| Lightning Power LLC | Lightning Power LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.252% (3 Month SOFR + 2.25%), due 8/18/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1977171 |
| Talen Energy Supply LLC (e) | Talen Energy Supply LLC (e) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.733% (3 Month SOFR + 2.50%), due 5/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2341112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2342716 |
| &nbsp;&nbsp;&nbsp;First Lien 2024-1 Incremental Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024-1 Incremental Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.733% (3 Month SOFR + 2.50%), due 12/11/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2679750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681090 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000977 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Entertainment 0.2%** | **Entertainment 0.2%** | **Entertainment 0.2%** |
| Sterling Entertainment Enterprises LLC | Sterling Entertainment Enterprises LLC |  |
| &nbsp;&nbsp;&nbsp;Second Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;Second Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;10.25% (7.50% PIK), due 4/10/26 (b)(g)(j) | &nbsp;&nbsp;&nbsp;$7471362 | &nbsp;&nbsp;$4557531 |
| **Finance 0.9%** | **Finance 0.9%** | **Finance 0.9%** |
| AAdvantage Loyalty IP Ltd. | AAdvantage Loyalty IP Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.575% (3 Month SOFR + 2.25%), due 4/20/28 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1296750 | &nbsp;&nbsp;&nbsp;&nbsp; 1294203 |
| Arches Buyer, Inc. | Arches Buyer, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan | &nbsp;&nbsp;&nbsp;First Lien New Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.513% (1 Month SOFR + 3.25%), due 12/6/27 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4328717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332323 |
| Belron Finance 2019 LLC | Belron Finance 2019 LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2031 Dollar Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2031 Dollar Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.742% (3 Month SOFR + 2.50%), due 10/16/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2277043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286532 |
| Blackstone Mortgage Trust, Inc. | Blackstone Mortgage Trust, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B6 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B6 |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 12/10/30 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999566 |
| Mativ Holdings, Inc. | Mativ Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.028% (1 Month SOFR + 3.75%), due 4/20/28 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1627226 |
| Osaic Holdings, Inc. | Osaic Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 8/2/32 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3697691 |
| RealTruck Group, Inc. (e) | RealTruck Group, Inc. (e) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.028% (1 Month SOFR + 3.75%), due 1/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2945900 |
| &nbsp;&nbsp;&nbsp;First Lien Second Amendment Incremental Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Amendment Incremental Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.278% (1 Month SOFR + 5.00%), due 1/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4496637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4181872 |
| Superannuation And Investments US LLC | Superannuation And Investments US LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.163% (1 Month SOFR + 3.00%), due 12/1/28 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2598986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608732 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23974045 |
| **Healthcare & Pharmaceuticals 0.1%** | **Healthcare & Pharmaceuticals 0.1%** | **Healthcare & Pharmaceuticals 0.1%** |
| 1261229 BC Ltd. | 1261229 BC Ltd. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;10.413% (1 Month SOFR + 6.25%), due 10/8/30 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3516188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3463445 |
| **Healthcare, Education & Childcare 0.4%** | **Healthcare, Education & Childcare 0.4%** | **Healthcare, Education & Childcare 0.4%** |
| Endo Finance Holdings, Inc. | Endo Finance Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.163% (1 Month SOFR + 4.00%), due 4/23/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6130519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6138182 |
| LifePoint Health, Inc. | LifePoint Health, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;8.068% (3 Month SOFR + 3.75%), due 5/19/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4197061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4184818 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10323000 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Hotels, Motels, Inns & Gaming 0.1%** | **Hotels, Motels, Inns & Gaming 0.1%** | **Hotels, Motels, Inns & Gaming 0.1%** |
| Caesars Entertainment, Inc. | Caesars Entertainment, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 2/6/31 (e) | &nbsp;&nbsp;&nbsp;$2462500 | &nbsp;&nbsp;$2454497 |
| **Media 0.3%** | **Media 0.3%** | **Media 0.3%** |
| DIRECTV Financing LLC | DIRECTV Financing LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;9.82% (3 Month SOFR + 5.25%), due 8/2/29 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7326944 | &nbsp;&nbsp;&nbsp;&nbsp; 7334065 |
| **Mining, Steel, Iron & Non-Precious Metals 0.2%** | **Mining, Steel, Iron & Non-Precious Metals 0.2%** | **Mining, Steel, Iron & Non-Precious Metals 0.2%** |
| American Rock Salt Co. LLC (e) | American Rock Salt Co. LLC (e) |  |
| &nbsp;&nbsp;&nbsp;First Lien First Out Term Loan 11.461% - 11.473% | &nbsp;&nbsp;&nbsp;First Lien First Out Term Loan 11.461% - 11.473% |  |
| &nbsp;&nbsp;&nbsp;(3 Month SOFR + 7.00%), due 6/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2319313 |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.46% (3 Month SOFR + 4.00%), due 6/9/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4620985 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6940298 |
| **Oil & Gas 0.3%** | **Oil & Gas 0.3%** | **Oil & Gas 0.3%** |
| New Fortress Energy, Inc. | New Fortress Energy, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Second Amendment Term Loan | &nbsp;&nbsp;&nbsp;First Lien Second Amendment Term Loan |  |
| &nbsp;&nbsp;&nbsp;9.57% (3 Month SOFR + 5.50%), due 10/30/28 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7406780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3547848 |
| PetroQuest Energy LLC (b)(g)(j) | PetroQuest Energy LLC (b)(g)(j) |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;13.75% (14.00% PIK) (PRIME + 6.50%), due 11/10/25 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8955736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89557 |
| &nbsp;&nbsp;&nbsp;First Lien 2020 Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2020 Term Loan |  |
| &nbsp;&nbsp;&nbsp;14.00% (14.00% PIK), due 9/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383942 |
| Prairie Acquiror LP | Prairie Acquiror LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B4 |  |
| &nbsp;&nbsp;&nbsp;7.913% (1 Month SOFR + 3.75%), due 8/1/29 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275281 |
| TransMontaigne Operating Co. LP | TransMontaigne Operating Co. LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B |  |
| &nbsp;&nbsp;&nbsp;6.663% (1 Month SOFR + 2.50%), due 11/17/28 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3281000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3281587 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9578215 |
| **Personal, Food & Miscellaneous Services 0.0% ‡** | **Personal, Food & Miscellaneous Services 0.0% ‡** | **Personal, Food & Miscellaneous Services 0.0% ‡** |
| WW International, Inc. | WW International, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;10.803% (3 Month SOFR + 6.80%), due 6/24/30 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160994 |
| **Retail 1.0%** | **Retail 1.0%** | **Retail 1.0%** |
| C&S Wholesale Grocers, Inc. | C&S Wholesale Grocers, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.634% (1 Year SOFR + 4.75%), due 8/6/30 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5154250 |
| Great Outdoors Group LLC | Great Outdoors Group LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.413% (1 Month SOFR + 3.25%), due 1/23/32 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23669429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23676814 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28831064 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Retail Store 0.1%** | **Retail Store 0.1%** | **Retail Store 0.1%** |
| PetSmart LLC | PetSmart LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.136% (1 Month SOFR + 4.00%), due 8/18/32 (e) | &nbsp;&nbsp;&nbsp;$2900000 | &nbsp;&nbsp;$2864959 |
| **Services: Business 0.1%** | **Services: Business 0.1%** | **Services: Business 0.1%** |
| Amentum Holdings, Inc. | Amentum Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.413% (1 Month SOFR + 2.25%), due 9/29/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1759999 | &nbsp;&nbsp;&nbsp;&nbsp; 1755599 |
| Orion US Finco, Inc. | Orion US Finco, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.325% (1 Year SOFR + 3.50%), due 5/21/32 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255990 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011589 |
| **Software 0.5%** | **Software 0.5%** | **Software 0.5%** |
| Cloud Software Group, Inc. (e) | Cloud Software Group, Inc. (e) |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Initial Dollar Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.252% (3 Month SOFR + 3.25%), due 8/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5790639 |
| &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Incremental Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.483% (1 Month SOFR + 3.25%), due 3/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2359479 |
| McAfee Corp. | McAfee Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.223% (1 Month SOFR + 3.00%), due 3/1/29 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2536112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413534 |
| UKG, Inc. | UKG, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.81% (3 Month SOFR + 2.50%), due 2/10/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483298 |
| VS Buyer LLC | VS Buyer LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2025-1 Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2025-1 Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;6.56% (3 Month SOFR + 2.25%), due 4/14/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2277072 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14324022 |
| Total Loan Assignments<br> (Cost $195,810,710) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180984223 |
| Total Long-Term Bonds<br> (Cost $2,726,199,409) |  | &nbsp;&nbsp;&nbsp;&nbsp;2696729750 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Common Stocks 0.8%** | **Common Stocks 0.8%** | **Common Stocks 0.8%** |
| **Electric Utilities 0.1%** | **Electric Utilities 0.1%** | **Electric Utilities 0.1%** |
| Keycon Power Holdings LLC (g)(j)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2646885 |
| **Electrical Equipment 0.1%** | **Electrical Equipment 0.1%** | **Electrical Equipment 0.1%** |
| Energy Technologies, Inc. (g)(j)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629836 |
| **Entertainment 0.1%** | **Entertainment 0.1%** | **Entertainment 0.1%** |
| Warner Bros Discovery, Inc. (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245950 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Independent Power and Renewable Electricity Producers 0.1%** | **Independent Power and Renewable Electricity Producers 0.1%** | **Independent Power and Renewable Electricity Producers 0.1%** |
| GenOn Energy, Inc. (i)(k) | &nbsp;&nbsp;&nbsp;&nbsp; 115826 | &nbsp;&nbsp;$3474780 |
| **Oil, Gas & Consumable Fuels 0.3%** | **Oil, Gas & Consumable Fuels 0.3%** | **Oil, Gas & Consumable Fuels 0.3%** |
| Gulfport Energy Corp. (k) | &nbsp;&nbsp;&nbsp;&nbsp; 15799 | &nbsp;&nbsp;&nbsp;&nbsp; 2859303 |
| PetroQuest Energy, Inc. (g)(j)(k) | &nbsp;&nbsp;&nbsp;&nbsp; 82247 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Talos Energy, Inc. (k) | &nbsp;&nbsp;&nbsp;&nbsp; 550880 | &nbsp;&nbsp;&nbsp;&nbsp; 5282939 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8142242 |
| **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** |
| Mallinckrodt ARD LLC (k) | &nbsp;&nbsp;&nbsp;&nbsp; 40148 | &nbsp;&nbsp;&nbsp;&nbsp; 4175392 |
| Total Common Stocks<br> (Cost $60,829,326) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22315085 |
| **Preferred Stock 0.4%** | **Preferred Stock 0.4%** | **Preferred Stock 0.4%** |
| **Electrical Equipment 0.4%** | **Electrical Equipment 0.4%** | **Electrical Equipment 0.4%** |
| Energy Technologies Ltd.<br> (g)(j)(k) | &nbsp;&nbsp;&nbsp;&nbsp; 10741 | &nbsp;&nbsp;&nbsp;&nbsp; 10203950 |
| Total Investments<br> (Cost $2,797,326,436) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.9% | &nbsp;&nbsp;&nbsp;&nbsp;2729248785 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30410996 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$2759659781 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
| (c) | Step coupon—Rate shown was the rate in effect as of September 30, 2025. |
| (d) | Delayed delivery security. |
| (e) | Floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (f) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (g) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (h) | Issue in non-accrual status. |
| (i) | Restricted security. |
| (j) | Illiquid security—As of September 30, 2025, the total market value deemed illiquid under procedures approved by the Board of Trustees was $19,511,701, which represented 0.7% of the Portfolio's net assets. |
| (k) | Non-income producing security. |

---

Abbreviation(s): <br> SOFR—Secured Overnight Financing Rate

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Convertible Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $8944700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $8944700 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2505320176 | &nbsp;&nbsp;&nbsp;&nbsp; 1480651 | &nbsp;&nbsp;&nbsp;&nbsp; 2506800827 |
| &nbsp;&nbsp;&nbsp;Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 175953193 | &nbsp;&nbsp;&nbsp;&nbsp; 5031030 | &nbsp;&nbsp;&nbsp;&nbsp; 180984223 |
| Total Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2690218069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6511681 | &nbsp;&nbsp;&nbsp;&nbsp;2696729750 |
| Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 10388192 | &nbsp;&nbsp;&nbsp;&nbsp; 7650172 | &nbsp;&nbsp;&nbsp;&nbsp; 4276721 | &nbsp;&nbsp;&nbsp;&nbsp; 22315085 |
| Preferred Stock | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10203950 | &nbsp;&nbsp;&nbsp;&nbsp; 10203950 |
| Total Investments in Securities | &nbsp;&nbsp;$10388192 | &nbsp;&nbsp;$2697868241 | &nbsp;&nbsp;$20992352 | &nbsp;&nbsp;$2729248785 |

---

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

------

## NYLI VP PineStone International Equity Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 98.7%** | **Common Stocks 98.7%** | **Common Stocks 98.7%** |
| **Australia 1.1%** | **Australia 1.1%** | **Australia 1.1%** |
| Commonwealth Bank of Australia (Banks) | &nbsp;&nbsp;&nbsp;&nbsp; 43806 | &nbsp;&nbsp;$4843612 |
| **Canada 2.6%** | **Canada 2.6%** | **Canada 2.6%** |
| Canadian National Railway Co. (Ground Transportation) | &nbsp;&nbsp;&nbsp;&nbsp; 120218 | &nbsp;&nbsp;&nbsp;&nbsp; 11336557 |
| **Denmark 2.5%** | **Denmark 2.5%** | **Denmark 2.5%** |
| Novo Nordisk A/S, Class B (Pharmaceuticals) | &nbsp;&nbsp;&nbsp;&nbsp; 203860 | &nbsp;&nbsp;&nbsp;&nbsp; 11252198 |
| **France 17.1%** | **France 17.1%** | **France 17.1%** |
| Air Liquide SA (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp; 33631 | &nbsp;&nbsp;&nbsp;&nbsp; 6998992 |
| Air Liquide SA, Loyalty Shares (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp; 77000 | &nbsp;&nbsp;&nbsp;&nbsp; 16024573 |
| EssilorLuxottica SA (Health Care Equipment & Supplies) | &nbsp;&nbsp;&nbsp;&nbsp; 65553 | &nbsp;&nbsp;&nbsp;&nbsp; 21381802 |
| L'Oreal SA (Personal Care Products) | &nbsp;&nbsp;&nbsp;&nbsp; 4067 | &nbsp;&nbsp;&nbsp;&nbsp; 1762241 |
| L'Oreal SA, Loyalty Shares (Registered) (Personal Care Products) | &nbsp;&nbsp;&nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 12132467 |
| LVMH Moet Hennessy Louis Vuitton SE (Textiles, Apparel & Luxury Goods) | &nbsp;&nbsp;&nbsp;&nbsp; 27641 | &nbsp;&nbsp;&nbsp;&nbsp; 16913080 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75213155 |
| **Germany 5.7%** | **Germany 5.7%** | **Germany 5.7%** |
| Rational AG (Machinery) | &nbsp;&nbsp;&nbsp;&nbsp; 9828 | &nbsp;&nbsp;&nbsp;&nbsp; 7490213 |
| SAP SE (Software) | &nbsp;&nbsp;&nbsp;&nbsp; 66485 | &nbsp;&nbsp;&nbsp;&nbsp; 17824063 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25314276 |
| **India 1.9%** | **India 1.9%** | **India 1.9%** |
| HDFC Bank Ltd., ADR (Banks) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8431098 |
| **Japan 4.6%** | **Japan 4.6%** | **Japan 4.6%** |
| Keyence Corp. (Electronic Equipment, Instruments & Components) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18207011 |
| Unicharm Corp. (Household Products) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2057786 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20264797 |
| **Netherlands 5.7%** | **Netherlands 5.7%** | **Netherlands 5.7%** |
| ASML Holding NV (Semiconductors & Semiconductor Equipment) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24903449 |
| **Spain 3.4%** | **Spain 3.4%** | **Spain 3.4%** |
| Amadeus IT Group SA (Hotels, Restaurants & Leisure) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14879515 |
| **Sweden 1.3%** | **Sweden 1.3%** | **Sweden 1.3%** |
| Atlas Copco AB, Class A (Machinery) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5689619 |
| **Switzerland 10.0%** | **Switzerland 10.0%** | **Switzerland 10.0%** |
| Cie Financiere Richemont SA (Registered) (Textiles, Apparel & Luxury Goods) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18447812 |
| Geberit AG (Registered) (Building Products) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11141147 |
| Schindler Holding AG (Machinery) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14424553 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44013512 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Taiwan 9.7%** | **Taiwan 9.7%** | **Taiwan 9.7%** |
| Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR (Semiconductors & Semiconductor Equipment) | &nbsp;&nbsp;&nbsp;&nbsp; 153433 | &nbsp;&nbsp;$42852303 |
| **United Kingdom 21.2%** | **United Kingdom 21.2%** | **United Kingdom 21.2%** |
| Ashtead Group plc (Trading Companies & Distributors) | &nbsp;&nbsp;&nbsp;&nbsp; 118163 | &nbsp;&nbsp;&nbsp;&nbsp; 7940598 |
| Diageo plc (Beverages) | &nbsp;&nbsp;&nbsp;&nbsp; 357911 | &nbsp;&nbsp;&nbsp;&nbsp; 8520365 |
| Howden Joinery Group plc (Trading Companies & Distributors) | &nbsp;&nbsp;&nbsp;&nbsp; 796108 | &nbsp;&nbsp;&nbsp;&nbsp; 9110618 |
| InterContinental Hotels Group plc (Hotels, Restaurants & Leisure) | &nbsp;&nbsp;&nbsp;&nbsp; 173266 | &nbsp;&nbsp;&nbsp;&nbsp; 20999783 |
| Intertek Group plc (Professional Services) | &nbsp;&nbsp;&nbsp;&nbsp; 134607 | &nbsp;&nbsp;&nbsp;&nbsp; 8604813 |
| London Stock Exchange Group plc (Capital Markets) | &nbsp;&nbsp;&nbsp;&nbsp; 205937 | &nbsp;&nbsp;&nbsp;&nbsp; 23648178 |
| Spirax Group plc (Machinery) | &nbsp;&nbsp;&nbsp;&nbsp; 60414 | &nbsp;&nbsp;&nbsp;&nbsp; 5573255 |
| Unilever plc (Personal Care Products) | &nbsp;&nbsp;&nbsp;&nbsp; 149074 | &nbsp;&nbsp;&nbsp;&nbsp; 8849382 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93246992 |
| **United States 11.9%** | **United States 11.9%** | **United States 11.9%** |
| Alcon AG (Health Care Equipment & Supplies) | &nbsp;&nbsp;&nbsp;&nbsp; 121338 | &nbsp;&nbsp;&nbsp;&nbsp; 9088859 |
| Aon plc, Class A (Insurance) | &nbsp;&nbsp;&nbsp;&nbsp; 31032 | &nbsp;&nbsp;&nbsp;&nbsp; 11065390 |
| Nestle SA (Registered) (Food Products) | &nbsp;&nbsp;&nbsp;&nbsp; 195753 | &nbsp;&nbsp;&nbsp;&nbsp; 17981515 |
| S&P Global, Inc. (Capital Markets) | &nbsp;&nbsp;&nbsp;&nbsp; 29029 | &nbsp;&nbsp;&nbsp;&nbsp; 14128705 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52264469 |
| Total Common Stocks<br> (Cost $373,823,139) |  | &nbsp;&nbsp;&nbsp;&nbsp;434505552 |
| **Short-Term Investment 0.7%** | **Short-Term Investment 0.7%** | **Short-Term Investment 0.7%** |
| **Affiliated Investment Company 0.7%** | **Affiliated Investment Company 0.7%** | **Affiliated Investment Company 0.7%** |
| **United States 0.7%** | **United States 0.7%** | **United States 0.7%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (a) | &nbsp;&nbsp;&nbsp;&nbsp;2994869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2994869 |
| Total Short-Term Investment<br> (Cost $2,994,869) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2994869 |
| Total Investments<br> (Cost $376,818,008) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.4% | &nbsp;&nbsp;&nbsp;&nbsp;437500421 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2616105 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$440116526 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry and country classifications may be different than those used for compliance monitoring purposes. |
| (a) | Current yield as of September 30, 2025. |

---

------

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$4249 | &nbsp;&nbsp;$39032 | &nbsp;&nbsp;$(40286) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2995 | &nbsp;&nbsp;$45 | &nbsp;&nbsp;$— | &nbsp;&nbsp;2995 |

---

Abbreviation(s): <br> ADR—American Depositary Receipt

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $4843612 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp; $4843612 |
| &nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11252198 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 11252198 |
| &nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp; 28157040 | &nbsp;&nbsp;&nbsp;&nbsp; 47056115 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 75213155 |
| &nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25314276 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 25314276 |
| &nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20264797 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 20264797 |
| &nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24903449 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 24903449 |
| &nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14879515 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 14879515 |
| &nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5689619 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 5689619 |
| &nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44013512 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 44013512 |
| &nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 93246992 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 93246992 |
| &nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp; 25194095 | &nbsp;&nbsp;&nbsp;&nbsp; 27070374 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 52264469 |
| &nbsp;&nbsp;&nbsp;All Other Countries | &nbsp;&nbsp;&nbsp;&nbsp; 62619958 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 62619958 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;115971093 | &nbsp;&nbsp;&nbsp;&nbsp;318534459 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;434505552 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 2994869 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2994869 |
| Total Investments in Securities | &nbsp;&nbsp;$118965962 | &nbsp;&nbsp;$318534459 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$437500421 |

---

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

------

## NYLI VP S&P 500 Index Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 98.9%** | **Common Stocks 98.9%** | **Common Stocks 98.9%** |
| **Aerospace & Defense 2.2%** | **Aerospace & Defense 2.2%** | **Aerospace & Defense 2.2%** |
| Axon Enterprise, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7633 | &nbsp;&nbsp;$5477746 |
| Boeing Co. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 73519 | &nbsp;&nbsp;&nbsp;&nbsp; 15867606 |
| GE Aerospace | &nbsp;&nbsp;&nbsp;&nbsp; 103104 | &nbsp;&nbsp;&nbsp;&nbsp; 31015745 |
| General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 24547 | &nbsp;&nbsp;&nbsp;&nbsp; 8370527 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 39195 | &nbsp;&nbsp;&nbsp;&nbsp; 7691235 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3825 | &nbsp;&nbsp;&nbsp;&nbsp; 1101256 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18191 | &nbsp;&nbsp;&nbsp;&nbsp; 5555713 |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 19975 | &nbsp;&nbsp;&nbsp;&nbsp; 9971720 |
| Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 13086 | &nbsp;&nbsp;&nbsp;&nbsp; 7973561 |
| RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 130143 | &nbsp;&nbsp;&nbsp;&nbsp; 21776828 |
| Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 17326 | &nbsp;&nbsp;&nbsp;&nbsp; 1463874 |
| TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5479 | &nbsp;&nbsp;&nbsp;&nbsp; 7221432 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123487243 |
| **Air Freight & Logistics 0.3%** | **Air Freight & Logistics 0.3%** | **Air Freight & Logistics 0.3%** |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11482 | &nbsp;&nbsp;&nbsp;&nbsp; 1520217 |
| Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13196 | &nbsp;&nbsp;&nbsp;&nbsp; 1617697 |
| FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4975827 |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5977741 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14091482 |
| **Automobile Components 0.0% ‡** | **Automobile Components 0.0% ‡** | **Automobile Components 0.0% ‡** |
| Aptiv plc (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825450 |
| **Automobiles 2.3%** | **Automobiles 2.3%** | **Automobiles 2.3%** |
| Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4545553 |
| General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5643871 |
| Tesla, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121334737 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131524161 |
| **Banks 3.5%** | **Banks 3.5%** | **Banks 3.5%** |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34180800 |
| Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18167079 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229477 |
| Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2866971 |
| Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461407 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84330841 |
| KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693688 |
| M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3002638 |
| PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7693409 |
| Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287782 |
| Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5731871 |
| U.S. Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7312522 |
| Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26106828 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198065313 |
| **Beverages 1.0%** | **Beverages 1.0%** | **Beverages 1.0%** |
| Brown-Forman Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463637 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Beverages** | **Beverages** | **Beverages** |
| Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 376592 | &nbsp;&nbsp;$24975582 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 13882 | &nbsp;&nbsp;&nbsp;&nbsp; 1869489 |
| Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 132077 | &nbsp;&nbsp;&nbsp;&nbsp; 3369284 |
| Molson Coors Beverage Co., Class B (b) | &nbsp;&nbsp;&nbsp;&nbsp; 16469 | &nbsp;&nbsp;&nbsp;&nbsp; 745222 |
| Monster Beverage Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 69303 | &nbsp;&nbsp;&nbsp;&nbsp; 4664785 |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 133112 | &nbsp;&nbsp;&nbsp;&nbsp; 18694249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54782248 |
| **Biotechnology 1.6%** | **Biotechnology 1.6%** | **Biotechnology 1.6%** |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 171758 | &nbsp;&nbsp;&nbsp;&nbsp; 39768847 |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 52344 | &nbsp;&nbsp;&nbsp;&nbsp; 14771477 |
| Biogen, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14255 | &nbsp;&nbsp;&nbsp;&nbsp; 1996840 |
| Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 120641 | &nbsp;&nbsp;&nbsp;&nbsp; 13391151 |
| Incyte Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15948 | &nbsp;&nbsp;&nbsp;&nbsp; 1352550 |
| Moderna, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 33668 | &nbsp;&nbsp;&nbsp;&nbsp; 869645 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9905 | &nbsp;&nbsp;&nbsp;&nbsp; 5569284 |
| Vertex Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 24928 | &nbsp;&nbsp;&nbsp;&nbsp; 9762802 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87482596 |
| **Broadline Retail 3.8%** | **Broadline Retail 3.8%** | **Broadline Retail 3.8%** |
| Amazon.com, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207186252 |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4041181 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211227433 |
| **Building Products 0.5%** | **Building Products 0.5%** | **Building Products 0.5%** |
| A O Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815512 |
| Allegion plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480340 |
| Builders FirstSource, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303195 |
| Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4643347 |
| Johnson Controls International plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6995459 |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645251 |
| Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432859 |
| Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9129104 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27445067 |
| **Capital Markets 3.5%** | **Capital Markets 3.5%** | **Capital Markets 3.5%** |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4502797 |
| Bank of New York Mellon Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7471278 |
| BlackRock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16324512 |
| Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12244136 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493947 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15838473 |
| CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9467187 |
| Coinbase Global, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7421068 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053137 |
| Franklin Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688881 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23438970 |
| Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978785 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9376754 |

---

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---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Capital Markets** | **Capital Markets** | **Capital Markets** |
| Invesco Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 43360 | &nbsp;&nbsp;$994678 |
| KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 66701 | &nbsp;&nbsp;&nbsp;&nbsp; 8667795 |
| Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 15001 | &nbsp;&nbsp;&nbsp;&nbsp; 7147676 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 117958 | &nbsp;&nbsp;&nbsp;&nbsp; 18750604 |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7522 | &nbsp;&nbsp;&nbsp;&nbsp; 4268058 |
| Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44073 | &nbsp;&nbsp;&nbsp;&nbsp; 3898257 |
| Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 18593 | &nbsp;&nbsp;&nbsp;&nbsp; 2502618 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 17253 | &nbsp;&nbsp;&nbsp;&nbsp; 2977868 |
| Robinhood Markets, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 75142 | &nbsp;&nbsp;&nbsp;&nbsp; 10758832 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 30384 | &nbsp;&nbsp;&nbsp;&nbsp; 14788197 |
| State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 27583 | &nbsp;&nbsp;&nbsp;&nbsp; 3199904 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21362 | &nbsp;&nbsp;&nbsp;&nbsp; 2192596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193447008 |
| **Chemicals 1.1%** | **Chemicals 1.1%** | **Chemicals 1.1%** |
| Air Products and Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21638 | &nbsp;&nbsp;&nbsp;&nbsp; 5901115 |
| Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11470 | &nbsp;&nbsp;&nbsp;&nbsp; 929988 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412596 |
| Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4465406 |
| Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580014 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3171387 |
| Eastman Chemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703953 |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6796931 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534500 |
| Linde plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21655725 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229188 |
| Mosaic Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072444 |
| PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2306534 |
| Sherwin-Williams Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7806432 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60566213 |
| **Commercial Services & Supplies 0.5%** | **Commercial Services & Supplies 0.5%** | **Commercial Services & Supplies 0.5%** |
| Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6835774 |
| Copart, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3889545 |
| Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4527870 |
| Rollins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605364 |
| Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2572286 |
| Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7957168 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27388007 |
| **Communications Equipment 0.9%** | **Communications Equipment 0.9%** | **Communications Equipment 0.9%** |
| Arista Networks, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14601016 |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26343137 |
| F5, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805016 |
| Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7407641 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50156810 |
| **Construction & Engineering 0.2%** | **Construction & Engineering 0.2%** | **Construction & Engineering 0.2%** |
| EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2826798 |

---

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---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Construction & Engineering** | **Construction & Engineering** | **Construction & Engineering** |
| Quanta Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14487 | &nbsp;&nbsp;$6003703 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8830501 |
| **Construction Materials 0.1%** | **Construction Materials 0.1%** | **Construction Materials 0.1%** |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5863 | &nbsp;&nbsp;&nbsp;&nbsp; 3695332 |
| Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp; 12846 | &nbsp;&nbsp;&nbsp;&nbsp; 3951686 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7647018 |
| **Consumer Finance 0.6%** | **Consumer Finance 0.6%** | **Consumer Finance 0.6%** |
| American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp; 52774 | &nbsp;&nbsp;&nbsp;&nbsp; 17529412 |
| Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 62177 | &nbsp;&nbsp;&nbsp;&nbsp; 13217586 |
| Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp; 36174 | &nbsp;&nbsp;&nbsp;&nbsp; 2570163 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33317161 |
| **Consumer Staples Distribution & Retail 1.8%** | **Consumer Staples Distribution & Retail 1.8%** | **Consumer Staples Distribution & Retail 1.8%** |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 43118 | &nbsp;&nbsp;&nbsp;&nbsp; 39911314 |
| Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 21397 | &nbsp;&nbsp;&nbsp;&nbsp; 2211380 |
| Dollar Tree, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 18871 | &nbsp;&nbsp;&nbsp;&nbsp; 1780856 |
| Kroger Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 59140 | &nbsp;&nbsp;&nbsp;&nbsp; 3986628 |
| Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3822717 |
| Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3962677 |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43981267 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99656839 |
| **Containers & Packaging 0.2%** | **Containers & Packaging 0.2%** | **Containers & Packaging 0.2%** |
| Amcor plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833490 |
| Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229573 |
| Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334113 |
| International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381897 |
| Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893594 |
| Smurfit WestRock plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161066 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10833733 |
| **Distributors 0.1%** | **Distributors 0.1%** | **Distributors 0.1%** |
| Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875258 |
| LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763989 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990053 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3629300 |
| **Diversified Telecommunication Services 0.7%** | **Diversified Telecommunication Services 0.7%** | **Diversified Telecommunication Services 0.7%** |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19632843 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18016995 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37649838 |
| **Electric Utilities 1.5%** | **Electric Utilities 1.5%** | **Electric Utilities 1.5%** |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684171 |
| American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5849663 |
| Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9995172 |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9356242 |
| Edison International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2068356 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Electric Utilities** | **Electric Utilities** | **Electric Utilities** |
| Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 43403 | &nbsp;&nbsp;$4044726 |
| Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22377 | &nbsp;&nbsp;&nbsp;&nbsp; 1701100 |
| Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp; 36083 | &nbsp;&nbsp;&nbsp;&nbsp; 2566945 |
| Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 98199 | &nbsp;&nbsp;&nbsp;&nbsp; 4419937 |
| FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 50526 | &nbsp;&nbsp;&nbsp;&nbsp; 2315101 |
| NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 200220 | &nbsp;&nbsp;&nbsp;&nbsp; 15114608 |
| NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18807 | &nbsp;&nbsp;&nbsp;&nbsp; 3045794 |
| PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 213690 | &nbsp;&nbsp;&nbsp;&nbsp; 3222445 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11639 | &nbsp;&nbsp;&nbsp;&nbsp; 1043553 |
| PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 71901 | &nbsp;&nbsp;&nbsp;&nbsp; 2671841 |
| Southern Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 106955 | &nbsp;&nbsp;&nbsp;&nbsp; 10136125 |
| Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 57503 | &nbsp;&nbsp;&nbsp;&nbsp; 4637617 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83873396 |
| **Electrical Equipment 0.9%** | **Electrical Equipment 0.9%** | **Electrical Equipment 0.9%** |
| AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22455 | &nbsp;&nbsp;&nbsp;&nbsp; 4221540 |
| Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp; 37851 | &nbsp;&nbsp;&nbsp;&nbsp; 14165737 |
| Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7178169 |
| GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16275173 |
| Generac Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955017 |
| Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223412 |
| Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3821062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48840110 |
| **Electronic Equipment, Instruments & Components 0.7%** | **Electronic Equipment, Instruments & Components 0.7%** | **Electronic Equipment, Instruments & Components 0.7%** |
| Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14689991 |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029705 |
| Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6217136 |
| Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2265952 |
| Keysight Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2927111 |
| TE Connectivity plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6306878 |
| Teledyne Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2671756 |
| Trimble, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889136 |
| Zebra Technologies Corp., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469159 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40466824 |
| **Energy Equipment & Services 0.2%** | **Energy Equipment & Services 0.2%** | **Energy Equipment & Services 0.2%** |
| Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4670055 |
| Halliburton Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2039242 |
| Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4985678 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11694975 |
| **Entertainment 1.5%** | **Entertainment 1.5%** | **Entertainment 1.5%** |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4416020 |
| Live Nation Entertainment, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2505739 |
| Netflix, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49533380 |
| Take-Two Interactive Software, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4355691 |
| TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354748 |
| Walt Disney Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20015630 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Entertainment** | **Entertainment** | **Entertainment** |
| Warner Bros Discovery, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 240713 | &nbsp;&nbsp;$4701125 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86882333 |
| **Financial Services 4.0%** | **Financial Services 4.0%** | **Financial Services 4.0%** |
| Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44739 | &nbsp;&nbsp;&nbsp;&nbsp; 5962367 |
| Berkshire Hathaway, Inc., Class B (a) | &nbsp;&nbsp;&nbsp;&nbsp; 178290 | &nbsp;&nbsp;&nbsp;&nbsp; 89633515 |
| Block, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 53434 | &nbsp;&nbsp;&nbsp;&nbsp; 3861675 |
| Corpay, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6872 | &nbsp;&nbsp;&nbsp;&nbsp; 1979548 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 50790 | &nbsp;&nbsp;&nbsp;&nbsp; 3349093 |
| Fiserv, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 52852 | &nbsp;&nbsp;&nbsp;&nbsp; 6814208 |
| Global Payments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 23588 | &nbsp;&nbsp;&nbsp;&nbsp; 1959691 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7080 | &nbsp;&nbsp;&nbsp;&nbsp; 1054424 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 80261 | &nbsp;&nbsp;&nbsp;&nbsp; 45653259 |
| PayPal Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 92889 | &nbsp;&nbsp;&nbsp;&nbsp; 6229136 |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 165159 | &nbsp;&nbsp;&nbsp;&nbsp; 56381980 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222878896 |
| **Food Products 0.5%** | **Food Products 0.5%** | **Food Products 0.5%** |
| Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790694 |
| Bunge Global SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1106300 |
| Campbell's Co. (The) (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605862 |
| Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852038 |
| General Mills, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2621134 |
| Hershey Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2693520 |
| Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702913 |
| J M Smucker Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126617 |
| Kellanova | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144085 |
| Kraft Heinz Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157596 |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786926 |
| McCormick & Co., Inc. (Non-Voting) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648127 |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7859163 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508671 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28603646 |
| **Gas Utilities 0.0% ‡** | **Gas Utilities 0.0% ‡** | **Gas Utilities 0.0% ‡** |
| Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2664895 |
| **Ground Transportation 0.9%** | **Ground Transportation 0.9%** | **Ground Transportation 0.9%** |
| CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6436507 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997554 |
| Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6552844 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2531506 |
| Uber Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19864397 |
| Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13629094 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50011902 |
| **Health Care Equipment & Supplies 2.0%** | **Health Care Equipment & Supplies 2.0%** | **Health Care Equipment & Supplies 2.0%** |
| Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22665461 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Equipment & Supplies** | **Health Care Equipment & Supplies** | **Health Care Equipment & Supplies** |
| Align Technology, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6554 | &nbsp;&nbsp;$820692 |
| Baxter International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 50025 | &nbsp;&nbsp;&nbsp;&nbsp; 1139069 |
| Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 27868 | &nbsp;&nbsp;&nbsp;&nbsp; 5216054 |
| Boston Scientific Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 144067 | &nbsp;&nbsp;&nbsp;&nbsp; 14065261 |
| Cooper Cos., Inc. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 19398 | &nbsp;&nbsp;&nbsp;&nbsp; 1329927 |
| DexCom, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 38128 | &nbsp;&nbsp;&nbsp;&nbsp; 2565633 |
| Edwards Lifesciences Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 57082 | &nbsp;&nbsp;&nbsp;&nbsp; 4439267 |
| GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44390 | &nbsp;&nbsp;&nbsp;&nbsp; 3333689 |
| Hologic, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 21625 | &nbsp;&nbsp;&nbsp;&nbsp; 1459471 |
| IDEXX Laboratories, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7779 | &nbsp;&nbsp;&nbsp;&nbsp; 4969925 |
| Insulet Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6844 | &nbsp;&nbsp;&nbsp;&nbsp; 2112948 |
| Intuitive Surgical, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 34854 | &nbsp;&nbsp;&nbsp;&nbsp; 15587755 |
| Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp; 124574 | &nbsp;&nbsp;&nbsp;&nbsp; 11864428 |
| ResMed, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14236 | &nbsp;&nbsp;&nbsp;&nbsp; 3896820 |
| Solventum Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14335 | &nbsp;&nbsp;&nbsp;&nbsp; 1046455 |
| STERIS plc | &nbsp;&nbsp;&nbsp;&nbsp; 9578 | &nbsp;&nbsp;&nbsp;&nbsp; 2369980 |
| Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12366940 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1899770 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113149545 |
| **Health Care Providers & Services 1.6%** | **Health Care Providers & Services 1.6%** | **Health Care Providers & Services 1.6%** |
| Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644140 |
| Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5891190 |
| Centene Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1618588 |
| Cigna Group (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7480952 |
| CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9296869 |
| DaVita, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461856 |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7074066 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6787235 |
| Henry Schein, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665160 |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3042428 |
| Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2319445 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9343099 |
| Molina Healthcare, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011146 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073892 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30405737 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120740 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92236543 |
| **Health Care REITs 0.3%** | **Health Care REITs 0.3%** | **Health Care REITs 0.3%** |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261351 |
| Healthpeak Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293889 |
| Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3092648 |
| Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11584088 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17231976 |
| **Hotel & Resort REITs 0.0% ‡** | **Hotel & Resort REITs 0.0% ‡** | **Hotel & Resort REITs 0.0% ‡** |
| Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058116 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Hotels, Restaurants & Leisure 1.9%** | **Hotels, Restaurants & Leisure 1.9%** | **Hotels, Restaurants & Leisure 1.9%** |
| Airbnb, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 41718 | &nbsp;&nbsp;$5065400 |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3151 | &nbsp;&nbsp;&nbsp;&nbsp; 17013100 |
| Carnival Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 105559 | &nbsp;&nbsp;&nbsp;&nbsp; 3051711 |
| Chipotle Mexican Grill, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 130371 | &nbsp;&nbsp;&nbsp;&nbsp; 5109240 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11379 | &nbsp;&nbsp;&nbsp;&nbsp; 2166106 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3037 | &nbsp;&nbsp;&nbsp;&nbsp; 1311103 |
| DoorDash, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 35991 | &nbsp;&nbsp;&nbsp;&nbsp; 9789192 |
| Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11492 | &nbsp;&nbsp;&nbsp;&nbsp; 2456415 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22867 | &nbsp;&nbsp;&nbsp;&nbsp; 5932614 |
| Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 30033 | &nbsp;&nbsp;&nbsp;&nbsp; 1615475 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 21906 | &nbsp;&nbsp;&nbsp;&nbsp; 5705199 |
| McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 69382 | &nbsp;&nbsp;&nbsp;&nbsp; 21084496 |
| MGM Resorts International (a) | &nbsp;&nbsp;&nbsp;&nbsp; 19848 | &nbsp;&nbsp;&nbsp;&nbsp; 687932 |
| Norwegian Cruise Line Holdings Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 43941 | &nbsp;&nbsp;&nbsp;&nbsp; 1082267 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 24561 | &nbsp;&nbsp;&nbsp;&nbsp; 7947448 |
| Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 110519 | &nbsp;&nbsp;&nbsp;&nbsp; 9349907 |
| Wynn Resorts Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052840 |
| Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4101568 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104522013 |
| **Household Durables 0.3%** | **Household Durables 0.3%** | **Household Durables 0.3%** |
| DR Horton, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4567217 |
| Garmin Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3916868 |
| Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789139 |
| Mohawk Industries, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652206 |
| NVR, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2241670 |
| PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2534650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16701750 |
| **Household Products 0.9%** | **Household Products 0.9%** | **Household Products 0.9%** |
| Church & Dwight Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2075604 |
| Clorox Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466284 |
| Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6281765 |
| Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4010960 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34992712 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48827325 |
| **Independent Power and Renewable Electricity Producers 0.1%** | **Independent Power and Renewable Electricity Producers 0.1%** | **Independent Power and Renewable Electricity Producers 0.1%** |
| AES Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913277 |
| Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6066859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6980136 |
| **Industrial Conglomerates 0.4%** | **Industrial Conglomerates 0.4%** | **Industrial Conglomerates 0.4%** |
| 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8036151 |
| Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12993955 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21030106 |
| **Industrial REITs 0.2%** | **Industrial REITs 0.2%** | **Industrial REITs 0.2%** |
| Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10333483 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Insurance 1.8%** | **Insurance 1.8%** | **Insurance 1.8%** |
| Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 46800 | &nbsp;&nbsp;$5227560 |
| Allstate Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 25620 | &nbsp;&nbsp;&nbsp;&nbsp; 5499333 |
| American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 53864 | &nbsp;&nbsp;&nbsp;&nbsp; 4230479 |
| Aon plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 20965 | &nbsp;&nbsp;&nbsp;&nbsp; 7475700 |
| Arch Capital Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 36139 | &nbsp;&nbsp;&nbsp;&nbsp; 3278891 |
| Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 24926 | &nbsp;&nbsp;&nbsp;&nbsp; 7720579 |
| Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4906 | &nbsp;&nbsp;&nbsp;&nbsp; 1062640 |
| Brown & Brown, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28488 | &nbsp;&nbsp;&nbsp;&nbsp; 2671890 |
| Chubb Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 36050 | &nbsp;&nbsp;&nbsp;&nbsp; 10175112 |
| Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 15204 | &nbsp;&nbsp;&nbsp;&nbsp; 2403752 |
| Erie Indemnity Co., Class A (b) | &nbsp;&nbsp;&nbsp;&nbsp; 2470 | &nbsp;&nbsp;&nbsp;&nbsp; 785855 |
| Everest Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 4078 | &nbsp;&nbsp;&nbsp;&nbsp; 1428238 |
| Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7876 | &nbsp;&nbsp;&nbsp;&nbsp; 1126032 |
| Hanover Insurance Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 27338 | &nbsp;&nbsp;&nbsp;&nbsp; 3646616 |
| Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16537 | &nbsp;&nbsp;&nbsp;&nbsp; 1660149 |
| Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 47799 | &nbsp;&nbsp;&nbsp;&nbsp; 9632932 |
| MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4473762 |
| Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1634156 |
| Progressive Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14075162 |
| Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550398 |
| Travelers Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6111847 |
| W R Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2232170 |
| Willis Towers Watson plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3276248 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103379501 |
| **Interactive Media & Services 7.2%** | **Interactive Media & Services 7.2%** | **Interactive Media & Services 7.2%** |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137490796 |
| &nbsp;&nbsp;&nbsp;Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110579737 |
| Match Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826311 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154868258 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403765102 |
| **IT Services 0.9%** | **IT Services 0.9%** | **IT Services 0.9%** |
| Accenture plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14933603 |
| Akamai Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056170 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184886 |
| EPAM Systems, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816528 |
| Gartner, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935775 |
| GoDaddy, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1841868 |
| International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25554949 |
| VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2285205 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51608984 |
| **Leisure Products 0.0% ‡** | **Leisure Products 0.0% ‡** | **Leisure Products 0.0% ‡** |
| Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982485 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Life Sciences Tools & Services 0.8%** | **Life Sciences Tools & Services 0.8%** | **Life Sciences Tools & Services 0.8%** |
| Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 27619 | &nbsp;&nbsp;$3544899 |
| Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 15282 | &nbsp;&nbsp;&nbsp;&nbsp; 850138 |
| Charles River Laboratories International, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4788 | &nbsp;&nbsp;&nbsp;&nbsp; 749131 |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 61962 | &nbsp;&nbsp;&nbsp;&nbsp; 12284586 |
| IQVIA Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 16529 | &nbsp;&nbsp;&nbsp;&nbsp; 3139518 |
| Mettler-Toledo International, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2003 | &nbsp;&nbsp;&nbsp;&nbsp; 2458903 |
| Revvity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11286 | &nbsp;&nbsp;&nbsp;&nbsp; 989218 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 36714 | &nbsp;&nbsp;&nbsp;&nbsp; 17807024 |
| Waters Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5787 | &nbsp;&nbsp;&nbsp;&nbsp; 1735000 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6991 | &nbsp;&nbsp;&nbsp;&nbsp; 1833949 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45392366 |
| **Machinery 1.5%** | **Machinery 1.5%** | **Machinery 1.5%** |
| Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 45549 | &nbsp;&nbsp;&nbsp;&nbsp; 21733705 |
| Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13397 | &nbsp;&nbsp;&nbsp;&nbsp; 5658491 |
| Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 24489 | &nbsp;&nbsp;&nbsp;&nbsp; 11197840 |
| Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 13333 | &nbsp;&nbsp;&nbsp;&nbsp; 2224345 |
| Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1611575 |
| IDEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191403 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6725261 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2905332 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1184679 |
| Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488878 |
| PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5019629 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9419256 |
| Pentair plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765404 |
| Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757600 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121045 |
| Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3332012 |
| Xylem, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490735 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83827190 |
| **Media 0.4%** | **Media 0.4%** | **Media 0.4%** |
| Charter Communications, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2484473 |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11250434 |
| Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287244 |
| &nbsp;&nbsp;&nbsp;Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824518 |
| Interpublic Group of Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993903 |
| News Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124017 |
| &nbsp;&nbsp;&nbsp;Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416880 |
| Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535618 |
| Paramount Skydance Corp., Class B (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567959 |
| Trade Desk, Inc. (The), Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123652 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22608698 |
| **Metals & Mining 0.3%** | **Metals & Mining 0.3%** | **Metals & Mining 0.3%** |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5474994 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Metals & Mining** | **Metals & Mining** | **Metals & Mining** |
| Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 106800 | &nbsp;&nbsp;$9004308 |
| Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 22317 | &nbsp;&nbsp;&nbsp;&nbsp; 3022391 |
| Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13459 | &nbsp;&nbsp;&nbsp;&nbsp; 1876589 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19378282 |
| **Multi-Utilities 0.6%** | **Multi-Utilities 0.6%** | **Multi-Utilities 0.6%** |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 26291 | &nbsp;&nbsp;&nbsp;&nbsp; 2744255 |
| CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 63476 | &nbsp;&nbsp;&nbsp;&nbsp; 2462869 |
| CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 29104 | &nbsp;&nbsp;&nbsp;&nbsp; 2132159 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 35065 | &nbsp;&nbsp;&nbsp;&nbsp; 3524734 |
| Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 82977 | &nbsp;&nbsp;&nbsp;&nbsp; 5075703 |
| DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp; 20183 | &nbsp;&nbsp;&nbsp;&nbsp; 2854482 |
| NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 45780 | &nbsp;&nbsp;&nbsp;&nbsp; 1982274 |
| Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 48524 | &nbsp;&nbsp;&nbsp;&nbsp; 4049813 |
| Sempra | &nbsp;&nbsp;&nbsp;&nbsp; 63438 | &nbsp;&nbsp;&nbsp;&nbsp; 5708151 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 31294 | &nbsp;&nbsp;&nbsp;&nbsp; 3585979 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34120419 |
| **Office REITs 0.0% ‡** | **Office REITs 0.0% ‡** | **Office REITs 0.0% ‡** |
| BXP, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064623 |
| **Oil, Gas & Consumable Fuels 2.6%** | **Oil, Gas & Consumable Fuels 2.6%** | **Oil, Gas & Consumable Fuels 2.6%** |
| APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844628 |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29057710 |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11486253 |
| Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1754783 |
| Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2163903 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2618014 |
| EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5952002 |
| EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3302595 |
| Expand Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2459881 |
| Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46735439 |
| Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5382354 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5697202 |
| Occidental Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3301452 |
| ONEOK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4467953 |
| Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5344498 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3505439 |
| Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752442 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5142533 |
| Williams Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7521672 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148490753 |
| **Passenger Airlines 0.1%** | **Passenger Airlines 0.1%** | **Passenger Airlines 0.1%** |
| Delta Air Lines, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3578882 |
| Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629420 |
| United Airlines Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3037434 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8245736 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Personal Care Products 0.1%** | **Personal Care Products 0.1%** | **Personal Care Products 0.1%** |
| Estee Lauder Cos., Inc. (The), Class A | &nbsp;&nbsp;&nbsp;&nbsp; 22772 | &nbsp;&nbsp;$2006669 |
| Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 186587 | &nbsp;&nbsp;&nbsp;&nbsp; 3028307 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5034976 |
| **Pharmaceuticals 2.7%** | **Pharmaceuticals 2.7%** | **Pharmaceuticals 2.7%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp; 197900 | &nbsp;&nbsp;&nbsp;&nbsp; 8925290 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 77298 | &nbsp;&nbsp;&nbsp;&nbsp; 58978374 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp; 234157 | &nbsp;&nbsp;&nbsp;&nbsp; 43417391 |
| Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 242853 | &nbsp;&nbsp;&nbsp;&nbsp; 20382652 |
| Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 552792 | &nbsp;&nbsp;&nbsp;&nbsp; 14085140 |
| Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 113355 | &nbsp;&nbsp;&nbsp;&nbsp; 1122215 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 43090 | &nbsp;&nbsp;&nbsp;&nbsp; 6304929 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153215991 |
| **Professional Services 0.6%** | **Professional Services 0.6%** | **Professional Services 0.6%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 39381 | &nbsp;&nbsp;&nbsp;&nbsp; 11558323 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11388 | &nbsp;&nbsp;&nbsp;&nbsp; 2712280 |
| Dayforce, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15527 | &nbsp;&nbsp;&nbsp;&nbsp; 1069655 |
| Equifax, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3087595 |
| Jacobs Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741673 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2357087 |
| Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3995855 |
| Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013226 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3416512 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30952206 |
| **Real Estate Management & Development 0.1%** | **Real Estate Management & Development 0.1%** | **Real Estate Management & Development 0.1%** |
| CBRE Group, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4489988 |
| CoStar Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3475200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7965188 |
| **Residential REITs 0.2%** | **Residential REITs 0.2%** | **Residential REITs 0.2%** |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670962 |
| Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109337 |
| Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2187162 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1676087 |
| Invitation Homes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608252 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590547 |
| UDR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095034 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11937381 |
| **Retail REITs 0.3%** | **Retail REITs 0.3%** | **Retail REITs 0.3%** |
| Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773299 |
| Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440920 |
| Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5403988 |
| Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158162 |
| Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5957209 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14733578 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Semiconductors & Semiconductor Equipment 13.6%** | **Semiconductors & Semiconductor Equipment 13.6%** | **Semiconductors & Semiconductor Equipment 13.6%** |
| Advanced Micro Devices, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 157785 | &nbsp;&nbsp;$25528035 |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 48249 | &nbsp;&nbsp;&nbsp;&nbsp; 11854779 |
| Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 78025 | &nbsp;&nbsp;&nbsp;&nbsp; 15974839 |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 457307 | &nbsp;&nbsp;&nbsp;&nbsp; 150870152 |
| First Solar, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10427 | &nbsp;&nbsp;&nbsp;&nbsp; 2299466 |
| Intel Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 425565 | &nbsp;&nbsp;&nbsp;&nbsp; 14277706 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 12830 | &nbsp;&nbsp;&nbsp;&nbsp; 13838438 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 123053 | &nbsp;&nbsp;&nbsp;&nbsp; 16476797 |
| Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 52472 | &nbsp;&nbsp;&nbsp;&nbsp; 3369752 |
| Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 108810 | &nbsp;&nbsp;&nbsp;&nbsp; 18206089 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4656 | &nbsp;&nbsp;&nbsp;&nbsp; 4286500 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2372352 | &nbsp;&nbsp;&nbsp;&nbsp; 442633436 |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp; 24513 | &nbsp;&nbsp;&nbsp;&nbsp; 5582346 |
| ON Semiconductor Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 39764 | &nbsp;&nbsp;&nbsp;&nbsp; 1960763 |
| QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 104862 | &nbsp;&nbsp;&nbsp;&nbsp; 17444842 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14431 | &nbsp;&nbsp;&nbsp;&nbsp; 1110898 |
| Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2128740 |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16240446 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764084024 |
| **Software 11.3%** | **Software 11.3%** | **Software 11.3%** |
| Adobe, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14548821 |
| AppLovin Corp., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18885387 |
| Autodesk, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6609760 |
| Cadence Design Systems, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9306282 |
| Crowdstrike Holdings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11883869 |
| Datadog, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4475774 |
| Fair Isaac Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492901 |
| Fortinet, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5324534 |
| Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546971 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18521202 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374327127 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45315357 |
| Palantir Technologies, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40336893 |
| Palo Alto Networks, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13223490 |
| PTC, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364574 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5217793 |
| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22029150 |
| ServiceNow, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18610822 |
| Synopsys, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8876580 |
| Tyler Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2199365 |
| Workday, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5055571 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632152223 |
| **Specialized REITs 0.8%** | **Specialized REITs 0.8%** | **Specialized REITs 0.8%** |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8755753 |
| Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4085387 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5388670 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Specialized REITs** | **Specialized REITs** | **Specialized REITs** |
| Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9515 | &nbsp;&nbsp;$7452528 |
| Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20637 | &nbsp;&nbsp;&nbsp;&nbsp; 2908579 |
| Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28716 | &nbsp;&nbsp;&nbsp;&nbsp; 2927309 |
| Public Storage | &nbsp;&nbsp;&nbsp;&nbsp; 15353 | &nbsp;&nbsp;&nbsp;&nbsp; 4434714 |
| SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 10440 | &nbsp;&nbsp;&nbsp;&nbsp; 2018574 |
| VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 103681 | &nbsp;&nbsp;&nbsp;&nbsp; 3381037 |
| Weyerhaeuser Co. | &nbsp;&nbsp;&nbsp;&nbsp; 70151 | &nbsp;&nbsp;&nbsp;&nbsp; 1739043 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43091594 |
| **Specialty Retail 1.8%** | **Specialty Retail 1.8%** | **Specialty Retail 1.8%** |
| AutoZone, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1627 | &nbsp;&nbsp;&nbsp;&nbsp; 6980220 |
| Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19110 | &nbsp;&nbsp;&nbsp;&nbsp; 1445098 |
| CarMax, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14591 | &nbsp;&nbsp;&nbsp;&nbsp; 654698 |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 96734 | &nbsp;&nbsp;&nbsp;&nbsp; 39195649 |
| Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 54490 | &nbsp;&nbsp;&nbsp;&nbsp; 13693882 |
| O'Reilly Automotive, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 82497 | &nbsp;&nbsp;&nbsp;&nbsp; 8894002 |
| Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 31800 | &nbsp;&nbsp;&nbsp;&nbsp; 4846002 |
| TJX Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15678109 |
| Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2930284 |
| Ulta Beauty, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2389298 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2337387 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99044629 |
| **Technology Hardware, Storage & Peripherals 7.0%** | **Technology Hardware, Storage & Peripherals 7.0%** | **Technology Hardware, Storage & Peripherals 7.0%** |
| Apple, Inc. (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367404354 |
| Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4179238 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3133463 |
| HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2486725 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2304639 |
| Seagate Technology Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4883373 |
| Super Micro Computer, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2336740 |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4049624 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390778156 |
| **Textiles, Apparel & Luxury Goods 0.3%** | **Textiles, Apparel & Luxury Goods 0.3%** | **Textiles, Apparel & Luxury Goods 0.3%** |
| Deckers Outdoor Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462059 |
| Lululemon Athletica, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886770 |
| NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8054373 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179613 |
| Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292252 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14875067 |
| **Tobacco 0.6%** | **Tobacco 0.6%** | **Tobacco 0.6%** |
| Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10789712 |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24547835 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35337547 |
| **Trading Companies & Distributors 0.3%** | **Trading Companies & Distributors 0.3%** | **Trading Companies & Distributors 0.3%** |
| Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5471981 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Trading Companies & Distributors** | **Trading Companies & Distributors** | **Trading Companies & Distributors** |
| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6256 | &nbsp;&nbsp;$5972353 |
| WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4279 | &nbsp;&nbsp;&nbsp;&nbsp; 4077716 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15522050 |
| **Water Utilities 0.0% ‡** | **Water Utilities 0.0% ‡** | **Water Utilities 0.0% ‡** |
| American Water Works Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18969 | &nbsp;&nbsp;&nbsp;&nbsp; 2640295 |
| **Wireless Telecommunication Services 0.2%** | **Wireless Telecommunication Services 0.2%** | **Wireless Telecommunication Services 0.2%** |
| T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47051 | &nbsp;&nbsp;&nbsp;&nbsp; 11263068 |
| Total Common Stocks (d)<br> (Cost $1,347,777,996) |  | &nbsp;&nbsp;&nbsp;&nbsp;5546533503 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> Rights** |  |
| **Rights 0.0% ‡** | **Rights 0.0% ‡** | **Rights 0.0% ‡** |
| **Health Care Equipment & Supplies 0.0% ‡** | **Health Care Equipment & Supplies 0.0% ‡** | **Health Care Equipment & Supplies 0.0% ‡** |
| ABIOMED, Inc., CVR (a)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4165 | &nbsp;&nbsp;&nbsp;&nbsp; 4248 |
| Total Rights<br> (Cost $4,248) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4248 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Short-Term Investments 1.1%** | **Short-Term Investments 1.1%** | **Short-Term Investments 1.1%** |
| **Unaffiliated Investment Company 0.1%** | **Unaffiliated Investment Company 0.1%** | **Unaffiliated Investment Company 0.1%** |
| Invesco Government & Agency Portfolio, 4.131% (f)(g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3225000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** |  |
| **U.S. Treasury Debt 1.0%** | **U.S. Treasury Debt 1.0%** | **U.S. Treasury Debt 1.0%** |
| U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;3.912%, due 12/23/25 (c)(h) | &nbsp;&nbsp;&nbsp;$58800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58276001 |
| Total Short-Term Investments<br> (Cost $61,500,720) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61501001 |
| Total Investments<br> (Cost $1,409,282,964) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;5608038752 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0)‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1910851) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$5606127901 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | Non-income producing security. |

---

------

(b) All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $3,761,995; the total market value of collateral held by the Portfolio
was $3,877,867. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $652,867. The Portfolio received cash collateral with a value of $3,225,000.

(c) Represents a security, or portion thereof, which was maintained at the broker as collateral for futures contracts.

(d) The combined market value of common stocks and notional value of Standard & Poor's 500 Index futures contracts represents 100.0% of the Portfolio's net assets.

(e) Illiquid security—As of September 30, 2025, the total market value deemed illiquid under procedures approved by the Board of Trustees was $4,248, which represented less than one-tenth of a percent
of the Portfolio's net assets.

(f) Current yield as of September 30, 2025.

(g) Represents a security purchased with cash collateral received for securities on loan.

(h) Interest rate shown represents yield to maturity.

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$686 | &nbsp;&nbsp;$42731 | &nbsp;&nbsp;$(43417) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11 | &nbsp;&nbsp;$— | &nbsp;&nbsp;— |

---

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>1</sup>** |
| **Long Contracts** |  |  |  |  |  |
| S&P 500 E-Mini Index | &nbsp;&nbsp;171 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $56469481 | &nbsp;&nbsp; $57616313 | &nbsp;&nbsp; $1146832 |

---

1. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

Abbreviation(s): <br> REIT—Real Estate Investment Trust

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $5546533503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $5546533503 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4248 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 4248 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 3225000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3225000 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Debt | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 58276001 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 58276001 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3225000 | &nbsp;&nbsp;&nbsp;&nbsp;58276001 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61501001 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;5549758503 | &nbsp;&nbsp;&nbsp;&nbsp;58280249 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;5608038752 |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1146832 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1146832 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$5550905335 | &nbsp;&nbsp;$58280249 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5609185584 |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP Wellington Small Cap Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 96.9%** | **Common Stocks 96.9%** | **Common Stocks 96.9%** |
| **Aerospace & Defense 1.3%** | **Aerospace & Defense 1.3%** | **Aerospace & Defense 1.3%** |
| Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 39591 | &nbsp;&nbsp;$2482356 |
| Spirit AeroSystems Holdings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 53121 | &nbsp;&nbsp;&nbsp;&nbsp; 2050471 |
| Voyager Technologies, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9480 | &nbsp;&nbsp;&nbsp;&nbsp; 282314 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4815141 |
| **Automobile Components 1.6%** | **Automobile Components 1.6%** | **Automobile Components 1.6%** |
| Goodyear Tire & Rubber Co. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 188732 | &nbsp;&nbsp;&nbsp;&nbsp; 1411715 |
| Modine Manufacturing Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10550 | &nbsp;&nbsp;&nbsp;&nbsp; 1499788 |
| Phinia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38812 | &nbsp;&nbsp;&nbsp;&nbsp; 2230914 |
| Visteon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7631 | &nbsp;&nbsp;&nbsp;&nbsp; 914652 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6057069 |
| **Banks 10.4%** | **Banks 10.4%** | **Banks 10.4%** |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 62857 | &nbsp;&nbsp;&nbsp;&nbsp; 2218224 |
| Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp; 41679 | &nbsp;&nbsp;&nbsp;&nbsp; 2124795 |
| Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 27135 | &nbsp;&nbsp;&nbsp;&nbsp; 1777343 |
| Cadence Bank | &nbsp;&nbsp;&nbsp;&nbsp; 120401 | &nbsp;&nbsp;&nbsp;&nbsp; 4519854 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 73579 | &nbsp;&nbsp;&nbsp;&nbsp; 1893923 |
| CVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172854 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364791 |
| First Hawaiian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970856 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3504808 |
| FNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012590 |
| Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446422 |
| Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2206699 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403170 |
| Renasant Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1326232 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333534 |
| Simmons First National Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2113435 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1599980 |
| United Community Banks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469939 |
| WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401910 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38861359 |
| **Beverages 0.2%** | **Beverages 0.2%** | **Beverages 0.2%** |
| Vita Coco Co., Inc. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813683 |
| **Biotechnology 7.0%** | **Biotechnology 7.0%** | **Biotechnology 7.0%** |
| ACADIA Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184421 |
| ADMA Biologics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236495 |
| Agios Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152452 |
| Akero Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230278 |
| Alkermes plc (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329820 |
| Amicus Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626050 |
| Apogee Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456657 |
| Arcellx, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205250 |
| Arcutis Biotherapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135645 |
| Ardelyx, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88254 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Biotechnology** | **Biotechnology** | **Biotechnology** |
| Arrowhead Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 7721 | &nbsp;&nbsp;$266297 |
| Aurinia Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8012 | &nbsp;&nbsp;&nbsp;&nbsp; 88533 |
| Avidity Biosciences, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 27247 | &nbsp;&nbsp;&nbsp;&nbsp; 1187152 |
| Beam Therapeutics, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp; 5932 | &nbsp;&nbsp;&nbsp;&nbsp; 143970 |
| BioCryst Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14517 | &nbsp;&nbsp;&nbsp;&nbsp; 110184 |
| Biohaven Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6215 | &nbsp;&nbsp;&nbsp;&nbsp; 93287 |
| Bridgebio Pharma, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10451 | &nbsp;&nbsp;&nbsp;&nbsp; 542825 |
| Catalyst Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8256 | &nbsp;&nbsp;&nbsp;&nbsp; 162643 |
| Celcuity, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1953 | &nbsp;&nbsp;&nbsp;&nbsp; 96478 |
| Celldex Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 28980 | &nbsp;&nbsp;&nbsp;&nbsp; 749713 |
| CG oncology, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 18480 | &nbsp;&nbsp;&nbsp;&nbsp; 744374 |
| Cidara Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1187 | &nbsp;&nbsp;&nbsp;&nbsp; 113667 |
| Cogent Biosciences, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6717 | &nbsp;&nbsp;&nbsp;&nbsp; 96456 |
| CRISPR Therapeutics AG (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp; 5698 | &nbsp;&nbsp;&nbsp;&nbsp; 369287 |
| Cytokinetics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 19416 | &nbsp;&nbsp;&nbsp;&nbsp; 1067103 |
| Denali Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9250 | &nbsp;&nbsp;&nbsp;&nbsp; 134310 |
| Disc Medicine, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735999 |
| Dynavax Technologies Corp. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70851 |
| Dyne Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82807 |
| Exact Sciences Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2272161 |
| GRAIL, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122636 |
| Ideaya Biosciences, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156294 |
| Immunovant, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70702 |
| Insmed, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417928 |
| Intellia Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120078 |
| Krystal Biotech, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299924 |
| Kymera Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735743 |
| Madrigal Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537550 |
| MannKind Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115874 |
| Merus NV (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578928 |
| Mineralys Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570848 |
| Mirum Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219344 |
| Novavax, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90914 |
| Nuvalent, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764397 |
| Protagonist Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070519 |
| PTC Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315221 |
| Recursion Pharmaceuticals, Inc., Class A (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116808 |
| Revolution Medicines, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242827 |
| Rhythm Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386085 |
| Scholar Rock Holding Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631888 |
| Soleno Therapeutics, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618878 |
| Syndax Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91848 |
| TG Therapeutics, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341020 |
| Travere Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137425 |
| Twist Bioscience Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115064 |
| Vaxcyte, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776591 |
| Vera Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103192 |
| Veracyte, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182704 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Biotechnology** | **Biotechnology** | **Biotechnology** |
| Vericel Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3576 | &nbsp;&nbsp;$112537 |
| Viridian Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4759 | &nbsp;&nbsp;&nbsp;&nbsp; 102699 |
| Xenon Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5295 | &nbsp;&nbsp;&nbsp;&nbsp; 212594 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26132479 |
| **Broadline Retail 0.4%** | **Broadline Retail 0.4%** | **Broadline Retail 0.4%** |
| Ollie's Bargain Outlet Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 12022 | &nbsp;&nbsp;&nbsp;&nbsp; 1543625 |
| **Building Products 0.6%** | **Building Products 0.6%** | **Building Products 0.6%** |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 48484 | &nbsp;&nbsp;&nbsp;&nbsp; 2280203 |
| **Capital Markets 1.1%** | **Capital Markets 1.1%** | **Capital Markets 1.1%** |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 9138 | &nbsp;&nbsp;&nbsp;&nbsp; 1231711 |
| PJT Partners, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15505 | &nbsp;&nbsp;&nbsp;&nbsp; 2755704 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3987415 |
| **Chemicals 1.4%** | **Chemicals 1.4%** | **Chemicals 1.4%** |
| Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 23276 | &nbsp;&nbsp;&nbsp;&nbsp; 1770140 |
| Mativ Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 102344 | &nbsp;&nbsp;&nbsp;&nbsp; 1157511 |
| Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16367 | &nbsp;&nbsp;&nbsp;&nbsp; 2156352 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5084003 |
| **Commercial Services & Supplies 2.0%** | **Commercial Services & Supplies 2.0%** | **Commercial Services & Supplies 2.0%** |
| Brady Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2165176 |
| Casella Waste Systems, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776249 |
| GEO Group, Inc. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60159 |
| Loomis AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834535 |
| MillerKnoll, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1729650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7565769 |
| **Communications Equipment 1.2%** | **Communications Equipment 1.2%** | **Communications Equipment 1.2%** |
| Calix, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986117 |
| NetScout Systems, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4397503 |
| **Construction & Engineering 2.6%** | **Construction & Engineering 2.6%** | **Construction & Engineering 2.6%** |
| Ameresco, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6293396 |
| Centuri Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246687 |
| Fluor Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951203 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9491286 |
| **Construction Materials 0.3%** | **Construction Materials 0.3%** | **Construction Materials 0.3%** |
| James Hardie Industries plc, ADR (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969586 |
| **Consumer Finance 3.2%** | **Consumer Finance 3.2%** | **Consumer Finance 3.2%** |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812693 |
| Dave, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377968 |
| Enova International, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3701985 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Consumer Finance** | **Consumer Finance** | **Consumer Finance** |
| EZCORP, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 98607 | &nbsp;&nbsp;$1877477 |
| Navient Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 152961 | &nbsp;&nbsp;&nbsp;&nbsp; 2011437 |
| PROG Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 65484 | &nbsp;&nbsp;&nbsp;&nbsp; 2119062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900622 |
| **Consumer Staples Distribution & Retail 0.8%** | **Consumer Staples Distribution & Retail 0.8%** | **Consumer Staples Distribution & Retail 0.8%** |
| Grocery Outlet Holding Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 129297 | &nbsp;&nbsp;&nbsp;&nbsp; 2075217 |
| Guardian Pharmacy Services, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 34112 | &nbsp;&nbsp;&nbsp;&nbsp; 894758 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2969975 |
| **Containers & Packaging 0.9%** | **Containers & Packaging 0.9%** | **Containers & Packaging 0.9%** |
| Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 28397 | &nbsp;&nbsp;&nbsp;&nbsp; 1697005 |
| Sonoco Products Co. | &nbsp;&nbsp;&nbsp;&nbsp; 39389 | &nbsp;&nbsp;&nbsp;&nbsp; 1697272 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394277 |
| **Diversified Consumer Services 2.3%** | **Diversified Consumer Services 2.3%** | **Diversified Consumer Services 2.3%** |
| Adtalem Global Education, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13321 | &nbsp;&nbsp;&nbsp;&nbsp; 2057428 |
| H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28514 | &nbsp;&nbsp;&nbsp;&nbsp; 1441953 |
| Laureate Education, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 119090 | &nbsp;&nbsp;&nbsp;&nbsp; 3756099 |
| Stride, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468846 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8724326 |
| **Electrical Equipment 1.0%** | **Electrical Equipment 1.0%** | **Electrical Equipment 1.0%** |
| Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766377 |
| NEXTracker, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2107309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3873686 |
| **Electronic Equipment, Instruments & Components 1.4%** | **Electronic Equipment, Instruments & Components 1.4%** | **Electronic Equipment, Instruments & Components 1.4%** |
| Fabrinet (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929052 |
| TTM Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362291 |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1949847 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5241190 |
| **Energy Equipment & Services 1.5%** | **Energy Equipment & Services 1.5%** | **Energy Equipment & Services 1.5%** |
| Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536516 |
| Helix Energy Solutions Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362315 |
| Select Water Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465563 |
| Tidewater, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104358 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5468752 |
| **Financial Services 2.9%** | **Financial Services 2.9%** | **Financial Services 2.9%** |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565405 |
| HA Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158925 |
| Radian Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2527142 |
| Remitly Global, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201429 |
| Repay Holdings Corp. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945699 |
| Shift4 Payments, Inc., Class A (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417744 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10816344 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Food Products 0.2%** | **Food Products 0.2%** | **Food Products 0.2%** |
| Freshpet, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14656 | &nbsp;&nbsp;$807692 |
| **Gas Utilities 2.2%** | **Gas Utilities 2.2%** | **Gas Utilities 2.2%** |
| New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 43044 | &nbsp;&nbsp;&nbsp;&nbsp; 2072569 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 27580 | &nbsp;&nbsp;&nbsp;&nbsp; 2160617 |
| Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28525 | &nbsp;&nbsp;&nbsp;&nbsp; 2325358 |
| UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 47102 | &nbsp;&nbsp;&nbsp;&nbsp; 1566612 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8125156 |
| **Ground Transportation 0.8%** | **Ground Transportation 0.8%** | **Ground Transportation 0.8%** |
| Ryder System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16121 | &nbsp;&nbsp;&nbsp;&nbsp; 3041065 |
| **Health Care Equipment & Supplies 3.5%** | **Health Care Equipment & Supplies 3.5%** | **Health Care Equipment & Supplies 3.5%** |
| Artivion, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 92406 | &nbsp;&nbsp;&nbsp;&nbsp; 3912470 |
| Glaukos Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13404 | &nbsp;&nbsp;&nbsp;&nbsp; 1093096 |
| Integra LifeSciences Holdings Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 139938 | &nbsp;&nbsp;&nbsp;&nbsp; 2005312 |
| Lantheus Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13066 | &nbsp;&nbsp;&nbsp;&nbsp; 670155 |
| Omnicell, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 54790 | &nbsp;&nbsp;&nbsp;&nbsp; 1668355 |
| PROCEPT BioRobotics Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 21291 | &nbsp;&nbsp;&nbsp;&nbsp; 759876 |
| SI-BONE, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889915 |
| TransMedics Group, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12887579 |
| **Health Care Providers & Services 1.5%** | **Health Care Providers & Services 1.5%** | **Health Care Providers & Services 1.5%** |
| Ensign Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367993 |
| GeneDx Holdings Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501680 |
| Hims & Hers Health, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363575 |
| PACS Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459832 |
| Progyny, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888380 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5581460 |
| **Health Care REITs 1.3%** | **Health Care REITs 1.3%** | **Health Care REITs 1.3%** |
| American Healthcare REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472625 |
| CareTrust REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2385776 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858401 |
| **Health Care Technology 0.4%** | **Health Care Technology 0.4%** | **Health Care Technology 0.4%** |
| Veradigm, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401518 |
| **Hotel & Resort REITs 0.6%** | **Hotel & Resort REITs 0.6%** | **Hotel & Resort REITs 0.6%** |
| Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2151844 |
| **Hotels, Restaurants & Leisure 2.4%** | **Hotels, Restaurants & Leisure 2.4%** | **Hotels, Restaurants & Leisure 2.4%** |
| Cracker Barrel Old Country Store, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225353 |
| Genius Sports Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195791 |
| Life Time Group Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120677 |
| Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864054 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Hotels, Restaurants & Leisure** | **Hotels, Restaurants & Leisure** | **Hotels, Restaurants & Leisure** |
| Wingstop, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1377 | &nbsp;&nbsp;$346563 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8752438 |
| **Household Durables 2.3%** | **Household Durables 2.3%** | **Household Durables 2.3%** |
| Champion Homes, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 59308 | &nbsp;&nbsp;&nbsp;&nbsp; 4529352 |
| Helen of Troy Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 79938 | &nbsp;&nbsp;&nbsp;&nbsp; 2014437 |
| Leggett & Platt, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 218252 | &nbsp;&nbsp;&nbsp;&nbsp; 1938078 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8481867 |
| **Household Products 0.4%** | **Household Products 0.4%** | **Household Products 0.4%** |
| Energizer Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 55789 | &nbsp;&nbsp;&nbsp;&nbsp; 1388588 |
| **Insurance 1.4%** | **Insurance 1.4%** | **Insurance 1.4%** |
| Beazley plc | &nbsp;&nbsp;&nbsp;&nbsp; 46203 | &nbsp;&nbsp;&nbsp;&nbsp; 565237 |
| Kemper Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 27407 | &nbsp;&nbsp;&nbsp;&nbsp; 1412831 |
| Lancashire Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 210993 | &nbsp;&nbsp;&nbsp;&nbsp; 1923652 |
| SiriusPoint Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 81830 | &nbsp;&nbsp;&nbsp;&nbsp; 1480305 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5382025 |
| **IT Services 0.3%** | **IT Services 0.3%** | **IT Services 0.3%** |
| Grid Dynamics Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025738 |
| **Leisure Products 1.0%** | **Leisure Products 1.0%** | **Leisure Products 1.0%** |
| Malibu Boats, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1579828 |
| Sturm Ruger & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2291391 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3871219 |
| **Machinery 1.9%** | **Machinery 1.9%** | **Machinery 1.9%** |
| Blue Bird Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165020 |
| Greenbrier Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1759862 |
| Kennametal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2145283 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7070165 |
| **Media 1.5%** | **Media 1.5%** | **Media 1.5%** |
| Criteo SA, Sponsored ADR (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470035 |
| Magnite, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3819167 |
| National CineMedia, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343912 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5633114 |
| **Metals & Mining 2.0%** | **Metals & Mining 2.0%** | **Metals & Mining 2.0%** |
| Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4080529 |
| Lundin Mining Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2889902 |
| MP Materials Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430724 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7401155 |
| **Mortgage Real Estate Investment Trusts 0.4%** | **Mortgage Real Estate Investment Trusts 0.4%** | **Mortgage Real Estate Investment Trusts 0.4%** |
| Rithm Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628747 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Office REITs 0.7%** | **Office REITs 0.7%** | **Office REITs 0.7%** |
| Piedmont Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 284971 | &nbsp;&nbsp;$2564739 |
| **Oil, Gas & Consumable Fuels 0.9%** | **Oil, Gas & Consumable Fuels 0.9%** | **Oil, Gas & Consumable Fuels 0.9%** |
| Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 87878 | &nbsp;&nbsp;&nbsp;&nbsp; 2213647 |
| Viper Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 30951 | &nbsp;&nbsp;&nbsp;&nbsp; 1182947 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3396594 |
| **Personal Care Products 0.2%** | **Personal Care Products 0.2%** | **Personal Care Products 0.2%** |
| BellRing Brands, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 19987 | &nbsp;&nbsp;&nbsp;&nbsp; 726527 |
| **Pharmaceuticals 1.7%** | **Pharmaceuticals 1.7%** | **Pharmaceuticals 1.7%** |
| Amneal Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10319 | &nbsp;&nbsp;&nbsp;&nbsp; 103293 |
| Amphastar Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2685 | &nbsp;&nbsp;&nbsp;&nbsp; 71555 |
| ANI Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1266 | &nbsp;&nbsp;&nbsp;&nbsp; 115966 |
| Avadel Pharmaceuticals plc, ADR (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6409 | &nbsp;&nbsp;&nbsp;&nbsp; 97865 |
| Axsome Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9167 | &nbsp;&nbsp;&nbsp;&nbsp; 1113332 |
| Collegium Pharmaceutical, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2188 | &nbsp;&nbsp;&nbsp;&nbsp; 76558 |
| CorMedix, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp; 4669 | &nbsp;&nbsp;&nbsp;&nbsp; 54300 |
| Crinetics Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 26381 | &nbsp;&nbsp;&nbsp;&nbsp; 1098769 |
| Edgewise Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82381 |
| Harmony Biosciences Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82708 |
| Harrow, Inc. (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106960 |
| Indivior plc (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200716 |
| Innoviva, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79826 |
| Ligand Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230105 |
| Liquidia Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98578 |
| Ocular Therapeutix, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113533 |
| Pacira BioSciences, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1498757 |
| Prestige Consumer Healthcare, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210288 |
| Structure Therapeutics, Inc., ADR (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288120 |
| Supernus Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176680 |
| Tarsus Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160996 |
| WaVe Life Sciences Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69642 |
| Xeris Biopharma Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86479 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6217407 |
| **Professional Services 4.1%** | **Professional Services 4.1%** | **Professional Services 4.1%** |
| Alight, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554303 |
| ExlService Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2168918 |
| Maximus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3482567 |
| TriNet Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504161 |
| Verra Mobility Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4557965 |
| WNS Holdings Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091881 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15359795 |
| **Real Estate Management & Development 0.4%** | **Real Estate Management & Development 0.4%** | **Real Estate Management & Development 0.4%** |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356968 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Retail REITs 1.1%** | **Retail REITs 1.1%** | **Retail REITs 1.1%** |
| Macerich Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 130302 | &nbsp;&nbsp;$2371496 |
| Phillips Edison & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 47577 | &nbsp;&nbsp;&nbsp;&nbsp; 1633319 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4004815 |
| **Semiconductors & Semiconductor Equipment 4.5%** | **Semiconductors & Semiconductor Equipment 4.5%** | **Semiconductors & Semiconductor Equipment 4.5%** |
| Credo Technology Group Holding Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10655 | &nbsp;&nbsp;&nbsp;&nbsp; 1551474 |
| Ichor Holdings Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 101409 | &nbsp;&nbsp;&nbsp;&nbsp; 1776686 |
| MKS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15587 | &nbsp;&nbsp;&nbsp;&nbsp; 1929203 |
| Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 49715 | &nbsp;&nbsp;&nbsp;&nbsp; 1999040 |
| Silicon Motion Technology Corp., ADR | &nbsp;&nbsp;&nbsp;&nbsp; 22830 | &nbsp;&nbsp;&nbsp;&nbsp; 2164512 |
| SiTime Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 11539 | &nbsp;&nbsp;&nbsp;&nbsp; 3476816 |
| Tower Semiconductor Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 52452 | &nbsp;&nbsp;&nbsp;&nbsp; 3792280 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16690011 |
| **Software 5.6%** | **Software 5.6%** | **Software 5.6%** |
| A10 Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 115619 | &nbsp;&nbsp;&nbsp;&nbsp; 2098485 |
| Adeia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 128405 | &nbsp;&nbsp;&nbsp;&nbsp; 2157204 |
| Agilysys, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10247 | &nbsp;&nbsp;&nbsp;&nbsp; 1078497 |
| Amplitude, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213375 |
| AvePoint, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972179 |
| Clearwater Analytics Holdings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735108 |
| CyberArk Software Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776543 |
| Freshworks, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1175952 |
| Intapp, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537758 |
| NCR Voyix Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781234 |
| RingCentral, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1673279 |
| Rubrik, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682428 |
| SEMrush Holdings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865806 |
| ServiceTitan, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613954 |
| Xperi, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419463 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20781265 |
| **Specialized REITs 0.9%** | **Specialized REITs 0.9%** | **Specialized REITs 0.9%** |
| EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073219 |
| National Storage Affiliates Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429406 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3502625 |
| **Specialty Retail 3.3%** | **Specialty Retail 3.3%** | **Specialty Retail 3.3%** |
| Advance Auto Parts, Inc. (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2264923 |
| American Eagle Outfitters, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109937 |
| Boot Barn Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889374 |
| Five Below, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825324 |
| Signet Jewelers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172300 |
| Upbound Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2961926 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12223784 |
| **Textiles, Apparel & Luxury Goods 1.0%** | **Textiles, Apparel & Luxury Goods 1.0%** | **Textiles, Apparel & Luxury Goods 1.0%** |
| Carter's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218427 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Textiles, Apparel & Luxury Goods** | **Textiles, Apparel & Luxury Goods** | **Textiles, Apparel & Luxury Goods** |
| Steven Madden Ltd. (b) | &nbsp;&nbsp;&nbsp;&nbsp; 78744 | &nbsp;&nbsp;$2636349 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3854776 |
| **Trading Companies & Distributors 4.3%** | **Trading Companies & Distributors 4.3%** | **Trading Companies & Distributors 4.3%** |
| Air Lease Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 30615 | &nbsp;&nbsp;&nbsp;&nbsp; 1948645 |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6454 | &nbsp;&nbsp;&nbsp;&nbsp; 1684816 |
| DXP Enterprises, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9068 | &nbsp;&nbsp;&nbsp;&nbsp; 1079727 |
| MRC Global, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 223245 | &nbsp;&nbsp;&nbsp;&nbsp; 3219193 |
| MSC Industrial Direct Co., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 23742 | &nbsp;&nbsp;&nbsp;&nbsp; 2187588 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 22474 | &nbsp;&nbsp;&nbsp;&nbsp; 1201685 |
| Xometry, Inc., Class A (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp; 86303 | &nbsp;&nbsp;&nbsp;&nbsp; 4700924 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16022578 |
| Total Common Stocks<br> (Cost $317,256,903) |  | &nbsp;&nbsp;&nbsp;&nbsp;360579948 |
| **Exchange-Traded Fund 1.9%** | **Exchange-Traded Fund 1.9%** | **Exchange-Traded Fund 1.9%** |
| iShares Russell 2000 Value ETF | &nbsp;&nbsp;&nbsp;&nbsp; 38423 | &nbsp;&nbsp;&nbsp;&nbsp; 6793571 |
| Total Exchange-Traded Fund<br> (Cost $6,479,577) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6793571 |
| **Short-Term Investments 1.7%** | **Short-Term Investments 1.7%** | **Short-Term Investments 1.7%** |
| **Affiliated Investment Company 1.2%** | **Affiliated Investment Company 1.2%** | **Affiliated Investment Company 1.2%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (c) | &nbsp;&nbsp;&nbsp;&nbsp;4396431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4396431 |
| **Unaffiliated Investment Company 0.5%** | **Unaffiliated Investment Company 0.5%** | **Unaffiliated Investment Company 0.5%** |
| Invesco Government & Agency Portfolio, 4.131% (c)(d) | &nbsp;&nbsp;&nbsp;&nbsp;1996654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996654 |
| Total Short-Term Investments<br> (Cost $6,393,085) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6393085 |
| Total Investments<br> (Cost $330,129,565) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.5% | &nbsp;&nbsp;&nbsp;&nbsp;373766604 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1730242) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$372036362 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $14,112,707; the total market value of collateral held by the Portfolio was $14,652,145. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $12,655,491. The Portfolio received cash collateral with a value of $1,996,654. |
| (c) | Current yield as of September 30, 2025. |
| (d) | Represents a security purchased with cash collateral received for securities on loan. |

---

------

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$6197 | &nbsp;&nbsp;$69231 | &nbsp;&nbsp;$(71032) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$4396 | &nbsp;&nbsp;$182 | &nbsp;&nbsp;$— | &nbsp;&nbsp;4396 |

---

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts<sup>1</sup>:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>2</sup>** |
| **Long Contracts** |  |  |  |  |  |
| Russell 2000 E-Mini Index | &nbsp;&nbsp;34 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $4150504 | &nbsp;&nbsp; $4174350 | &nbsp;&nbsp; $23846 |

---

1. As of September 30, 2025, cash in the amount of $344,313 was on deposit with a broker or futures commission merchant for futures transactions.

2. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| ADR—American Depositary Receipt |
| ETF—Exchange-Traded Fund |
| REIT—Real Estate Investment Trust |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp; $5731234 | &nbsp;&nbsp; $1834535 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp; $7565769 |
| &nbsp;&nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp; 2893136 | &nbsp;&nbsp;&nbsp;&nbsp; 2488889 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 5382025 |
| &nbsp;&nbsp;&nbsp;All Other Industries | &nbsp;&nbsp;&nbsp;&nbsp; 347632154 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 347632154 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;356256524 | &nbsp;&nbsp;&nbsp;&nbsp;4323424 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;360579948 |
| Exchange-Traded Fund | &nbsp;&nbsp;&nbsp;&nbsp; 6793571 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 6793571 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 4396431 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 4396431 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 1996654 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1996654 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6393085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6393085 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;369443180 | &nbsp;&nbsp;&nbsp;&nbsp;4323424 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;373766604 |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; 23846 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 23846 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$369467026 | &nbsp;&nbsp;$4323424 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$373790450 |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP MacKay Strategic Bond Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 97.3%** | **Long-Term Bonds 97.3%** | **Long-Term Bonds 97.3%** |
| **Asset-Backed Securities 14.5%** | **Asset-Backed Securities 14.5%** | **Asset-Backed Securities 14.5%** |
| **Automobile Asset-Backed Securities 6.0%** | **Automobile Asset-Backed Securities 6.0%** | **Automobile Asset-Backed Securities 6.0%** |
| Ally Bank Auto Credit-Linked Notes (a) | Ally Bank Auto Credit-Linked Notes (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-B, Class G |  |  |
| &nbsp;&nbsp;&nbsp;11.395%, due 9/15/32 | &nbsp;&nbsp;&nbsp;$661374 | &nbsp;&nbsp;$674697 |
| &nbsp;&nbsp;&nbsp;Series 2024-A, Class G |  |  |
| &nbsp;&nbsp;&nbsp;12.748%, due 5/17/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947478 | &nbsp;&nbsp;&nbsp;&nbsp; 978627 |
| Bridgecrest Lending Auto Securitization Trust | Bridgecrest Lending Auto Securitization Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class E |  |  |
| &nbsp;&nbsp;&nbsp;6.62%, due 5/17/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119917 |
| CarMax Auto Owner Trust | CarMax Auto Owner Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class D |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333666 |
| Carmax Select Receivables Trust | Carmax Select Receivables Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-B, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.33%, due 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202318 |
| CarMax Select Receivables Trust | CarMax Select Receivables Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.86%, due 7/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028197 |
| DT Auto Owner Trust (a) | DT Auto Owner Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;1.31%, due 5/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015341 |
| &nbsp;&nbsp;&nbsp;Series 2021-4A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;1.99%, due 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943400 |
| Exeter Automobile Receivables Trust (a) | Exeter Automobile Receivables Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;3.04%, due 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793395 |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;6.34%, due 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1652275 |
| &nbsp;&nbsp;&nbsp;Series 2025-4A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;6.99%, due 4/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879256 |
| &nbsp;&nbsp;&nbsp;Series 2025-3A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;7.52%, due 12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419430 |
| &nbsp;&nbsp;&nbsp;Series 2022-5A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;10.45%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264293 |
| Flagship Credit Auto Trust (a) | Flagship Credit Auto Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class C |  |  |
| &nbsp;&nbsp;&nbsp;1.96%, due 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822646 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class D |  |  |
| &nbsp;&nbsp;&nbsp;2.26%, due 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622019 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class E |  |  |
| &nbsp;&nbsp;&nbsp;3.16%, due 9/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520479 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class E |  |  |
| &nbsp;&nbsp;&nbsp;3.32%, due 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421243 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class E |  |  |
| &nbsp;&nbsp;&nbsp;3.52%, due 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594528 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.64%, due 3/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940818 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Automobile Asset-Backed Securities** | **Automobile Asset-Backed Securities** | **Automobile Asset-Backed Securities** |
| Flagship Credit Auto Trust (a) | Flagship Credit Auto Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class E |  |  |
| &nbsp;&nbsp;&nbsp;4.03%, due 3/15/29 | &nbsp;&nbsp;&nbsp;$770000 | &nbsp;&nbsp;$674240 |
| &nbsp;&nbsp;&nbsp;Series 2020-3, Class E |  |  |
| &nbsp;&nbsp;&nbsp;4.98%, due 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1295000 | &nbsp;&nbsp;&nbsp;&nbsp; 1295253 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.80%, due 4/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1995000 | &nbsp;&nbsp;&nbsp;&nbsp; 1818052 |
| GLS Auto Receivables Issuer Trust (a) | GLS Auto Receivables Issuer Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;1.48%, due 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057512 |
| &nbsp;&nbsp;&nbsp;Series 2022-3A, Class E |  |  |
| &nbsp;&nbsp;&nbsp;8.35%, due 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709700 |
| Hertz Vehicle Financing III LP | Hertz Vehicle Financing III LP |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.34%, due 12/27/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466732 |
| Huntington Bank Auto Credit-Linked Notes | Huntington Bank Auto Credit-Linked Notes |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1, Class E |  |  |
| &nbsp;&nbsp;&nbsp;12.639% (SOFR 30A + 8.25%), due 5/20/32 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648779 |
| Santander Bank Auto Credit-Linked Notes | Santander Bank Auto Credit-Linked Notes |  |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class F |  |  |
| &nbsp;&nbsp;&nbsp;12.24%, due 12/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814900 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33711713 |
| **Home Equity Asset-Backed Security 0.3%** | **Home Equity Asset-Backed Security 0.3%** | **Home Equity Asset-Backed Security 0.3%** |
| RCKT Mortgage Trust | RCKT Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CES5, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;5.846%, due 8/25/44 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665563 |
| **Other Asset-Backed Securities 8.2%** | **Other Asset-Backed Securities 8.2%** | **Other Asset-Backed Securities 8.2%** |
| AGL CLO 17 Ltd. | AGL CLO 17 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-17A, Class BR |  |  |
| &nbsp;&nbsp;&nbsp;5.725% (3 Month SOFR + 1.40%), due 1/21/35 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350331 |
| AGL CLO 32 Ltd. | AGL CLO 32 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-32A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.705% (3 Month SOFR + 1.38%), due 7/21/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254832 |
| AGL CLO 35 Ltd. | AGL CLO 35 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-35A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;5.875% (3 Month SOFR + 1.55%), due 1/21/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400762 |
| AIMCO CLO | AIMCO CLO |  |
| &nbsp;&nbsp;&nbsp;Series 2018-AA, Class B1R |  |  |
| &nbsp;&nbsp;&nbsp;5.972% (3 Month SOFR + 1.65%), due 10/17/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255992 |
| American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2016-2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.65%, due 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171658 |
| &nbsp;&nbsp;&nbsp;Series 2019-1, Class B |  |  |
| &nbsp;&nbsp;&nbsp;3.85%, due 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760403 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B |  |  |
| &nbsp;&nbsp;&nbsp;3.95%, due 7/11/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045759 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| American Airlines Pass-Through Trust | American Airlines Pass-Through Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2015-2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 9/22/27 | &nbsp;&nbsp;&nbsp;$274959 | &nbsp;&nbsp;$267979 |
| Apex Credit CLO Ltd. | Apex Credit CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class D1R |  |  |
| &nbsp;&nbsp;&nbsp;7.624% (3 Month SOFR + 3.50%), due 10/22/38 (a)(b)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 |
| Apidos CLO | Apidos CLO |  |
| &nbsp;&nbsp;&nbsp;Series 2018-18A, Class BR2 |  |  |
| &nbsp;&nbsp;&nbsp;6.032% (3 Month SOFR + 1.70%), due 1/22/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306430 |
| Apidos CLO LI Ltd. | Apidos CLO LI Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-51A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.875% (3 Month SOFR + 1.55%), due 1/20/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659549 |
| ARES Direct Lending CLO 3 LLC | ARES Direct Lending CLO 3 LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-3A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;6.075% (3 Month SOFR + 1.75%), due 1/20/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700628 |
| Avant Loans Funding Trust | Avant Loans Funding Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2022-REV1, Class D |  |  |
| &nbsp;&nbsp;&nbsp;11.02%, due 9/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629996 |
| Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2021-6A, Class DR |  |  |
| &nbsp;&nbsp;&nbsp;7.275% (3 Month SOFR + 2.95%), due 10/21/34 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598454 |
| BXDL Static CLO LLC | BXDL Static CLO LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.618% (3 Month SOFR + 1.30%), due 7/20/35 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846915 |
| CF Hippolyta Issuer LLC (a) | CF Hippolyta Issuer LLC (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;1.69%, due 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988171 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;1.98%, due 3/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532564 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;1.99%, due 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771185 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;2.28%, due 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906059 |
| Consolidated Communications LLC | Consolidated Communications LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class C |  |  |
| &nbsp;&nbsp;&nbsp;9.408%, due 5/20/55 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314207 |
| Dext ABS LLC | Dext ABS LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-1, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.65%, due 2/15/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942892 |
| Flexential Issuer | Flexential Issuer |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class C |  |  |
| &nbsp;&nbsp;&nbsp;6.93%, due 11/27/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919189 |
| Fortress Credit Opportunities XXI CLO LLC | Fortress Credit Opportunities XXI CLO LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2023-21A, Class A1TR |  |  |
| &nbsp;&nbsp;&nbsp;5.895% (3 Month SOFR + 1.57%), due 1/21/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202668 |
| Golub Capital Partners CLO 67M | Golub Capital Partners CLO 67M |  |
| &nbsp;&nbsp;&nbsp;Series 2023-67A, Class CR |  |  |
| &nbsp;&nbsp;&nbsp;6.43% (3 Month SOFR + 2.20%), due 5/9/36 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900799 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| Golub Capital Partners CLO 76 B Ltd. | Golub Capital Partners CLO 76 B Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-76A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.688% (3 Month SOFR + 1.37%), due 10/25/37 (a)(b) | &nbsp;&nbsp;&nbsp;$1100000 | &nbsp;&nbsp;$1103421 |
| Golub Capital Partners CLO 78M | Golub Capital Partners CLO 78M |  |
| &nbsp;&nbsp;&nbsp;Series 2025-78A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.705% (3 Month SOFR + 1.38%), due 4/21/39 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1305000 | &nbsp;&nbsp;&nbsp;&nbsp; 1304486 |
| Great Lakes CLO Ltd. | Great Lakes CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class ARR |  |  |
| &nbsp;&nbsp;&nbsp;5.798% (3 Month SOFR + 1.48%), due 4/15/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127103 |
| Home Partners of America Trust | Home Partners of America Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class B |  |  |
| &nbsp;&nbsp;&nbsp;2.302%, due 12/17/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727906 |
| Ivy Hill Middle Market Credit Fund VII Ltd. | Ivy Hill Middle Market Credit Fund VII Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 7A, Class AR3 |  |  |
| &nbsp;&nbsp;&nbsp;5.918% (3 Month SOFR + 1.60%), due 10/15/36 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750640 |
| Magnetite 50 Ltd. | Magnetite 50 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2025-50A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.589% (3 Month SOFR + 1.28%), due 7/25/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254914 |
| Navient Private Education Refi Loan Trust (a) | Navient Private Education Refi Loan Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2020-GA, Class B |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 9/16/69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249011 |
| &nbsp;&nbsp;&nbsp;Series 2020-HA, Class B |  |  |
| &nbsp;&nbsp;&nbsp;2.78%, due 1/15/69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735202 |
| OCP CLO Ltd. | OCP CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2017-14A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.695% (3 Month SOFR + 1.37%), due 7/20/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053152 |
| Owl Rock CLO XX LLC | Owl Rock CLO XX LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-20A, Class C |  |  |
| &nbsp;&nbsp;&nbsp;6.419% (3 Month SOFR + 2.10%), due 10/24/34 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791826 |
| Rad CLO 25 Ltd. | Rad CLO 25 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-25A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.785% (3 Month SOFR + 1.46%), due 7/20/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653325 |
| Regatta 30 Funding Ltd. | Regatta 30 Funding Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-4A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;5.968% (3 Month SOFR + 1.65%), due 1/25/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253870 |
| Regatta XI Funding Ltd. | Regatta XI Funding Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;5.722% (3 Month SOFR + 1.40%), due 7/17/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102757 |
| RIN V LLC | RIN V LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2023-2A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.658% (3 Month SOFR + 1.34%), due 10/14/36 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299995 |
| Signal Peak CLO 12 Ltd. | Signal Peak CLO 12 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-12A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.729% (3 Month SOFR + 1.40%), due 7/18/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848362 |
| Silver Point SCF CLO IV Ltd. | Silver Point SCF CLO IV Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2R |  |  |
| &nbsp;&nbsp;&nbsp;6.268% (3 Month SOFR + 1.95%), due 10/15/36 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704141 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| Subway Funding LLC | Subway Funding LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2II |  |  |
| &nbsp;&nbsp;&nbsp;6.268%, due 7/30/54 (a) | &nbsp;&nbsp;&nbsp;$957762 | &nbsp;&nbsp;$982398 |
| Texas Debt Capital CLO Ltd. | Texas Debt Capital CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2024-2A, Class B |  |  |
| &nbsp;&nbsp;&nbsp;6.019% (3 Month SOFR + 1.70%), due 1/24/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 804838 |
| Tricon American Homes | Tricon American Homes |  |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR1, Class C |  |  |
| &nbsp;&nbsp;&nbsp;2.249%, due 7/17/38 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745916 |
| Vantage Data Centers Issuer LLC | Vantage Data Centers Issuer LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;2.165%, due 10/15/46 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895832 |
| Zayo Issuer LLC | Zayo Issuer LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2025-2A, Class C |  |  |
| &nbsp;&nbsp;&nbsp;9.489%, due 6/20/55 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2658730 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45575247 |
| Total Asset-Backed Securities<br> (Cost $81,608,328) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80952523 |
| **Corporate Bonds 39.3%** | **Corporate Bonds 39.3%** | **Corporate Bonds 39.3%** |
| **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** | **Aerospace & Defense 0.3%** |
| Bombardier, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 2/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516087 |
| **Airlines 1.4%** | **Airlines 1.4%** | **Airlines 1.4%** |
| American Airlines, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410181 |
| &nbsp;&nbsp;&nbsp;5.75%, due 4/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3267452 |
| Avianca Midco 2 plc |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;9.625%, due 2/14/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895230 |
| Delta Air Lines, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98256 |
| &nbsp;&nbsp;&nbsp;4.75%, due 10/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2257624 |
| Grupo Aeromexico SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;8.625%, due 11/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349527 |
| Pegasus Hava Tasimaciligi A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, due 9/11/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516257 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7794527 |
| **Auto Manufacturers 1.9%** | **Auto Manufacturers 1.9%** | **Auto Manufacturers 1.9%** |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, due 8/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357435 |
| &nbsp;&nbsp;&nbsp;6.80%, due 5/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708468 |
| &nbsp;&nbsp;&nbsp;6.95%, due 3/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159157 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Auto Manufacturers** | **Auto Manufacturers** | **Auto Manufacturers** |
| General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.35%, due 1/8/31 | &nbsp;&nbsp;&nbsp;$908000 | &nbsp;&nbsp;$804445 |
| &nbsp;&nbsp;&nbsp;2.70%, due 6/10/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1635000 | &nbsp;&nbsp;&nbsp;&nbsp; 1461701 |
| Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;1.85%, due 9/16/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4030000 | &nbsp;&nbsp;&nbsp;&nbsp; 3884583 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10375789 |
| **Auto Parts & Equipment 0.1%** | **Auto Parts & Equipment 0.1%** | **Auto Parts & Equipment 0.1%** |
| Goodyear Tire & Rubber Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 7/15/30 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781288 |
| **Banks 5.4%** | **Banks 5.4%** | **Banks 5.4%** |
| Akbank TAS |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;9.369% (5 Year Treasury Constant Maturity Rate + 5.27%), due 3/14/29 (b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862602 |
| Banco de Credito del Peru SA |  |  |
| &nbsp;&nbsp;&nbsp;6.45% (5 Year Treasury Constant Maturity Rate + 2.486%), due 7/30/35 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910000 |
| Bank of Georgia JSC |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;9.50% (5 Year SOFR + 5.618%), due 7/16/29 (b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784610 |
| Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;4.375% (5 Year Treasury Constant Maturity Rate + 3.41%), due 3/15/28 (b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244836 |
| BNP Paribas SA (a)(b)(f) |  |  |
| &nbsp;&nbsp;&nbsp;4.625% (5 Year Treasury Constant Maturity Rate + 3.196%), due 1/12/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925185 |
| &nbsp;&nbsp;&nbsp;4.625% (5 Year Treasury Constant Maturity Rate + 3.34%), due 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036257 |
| BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;2.045%, due 10/19/27 (a)(g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337344 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;4.75% (5 Year Treasury Constant Maturity Rate + 3.237%), due 3/23/29 (a)(b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109944 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;3.035%, due 5/28/32 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584632 |
| &nbsp;&nbsp;&nbsp;4.875% (USISDA05 + 2.553%), due 12/1/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1820000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1819073 |
| First Horizon Bank |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851908 |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;4.198% (1 Year Treasury Constant Maturity Rate + 2.60%), due 6/1/32 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377290 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;6.401%, due 3/6/35 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154124 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.484%, due 9/16/36 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394146 |
| NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;4.60% (5 Year Treasury Constant Maturity Rate + 3.10%), due 6/28/31 (b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669838 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.499%, due 3/9/29 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325057 |
| Societe Generale SA (a)(b)(f) |  |  |
| &nbsp;&nbsp;&nbsp;4.75% (5 Year Treasury Constant Maturity Rate + 3.931%), due 5/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1198314 |
| &nbsp;&nbsp;&nbsp;5.375% (5 Year Treasury Constant Maturity Rate + 4.514%), due 11/18/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643593 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Banks** | **Banks** | **Banks** |
| Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;7.875% (5 Year Treasury Constant Maturity Rate + 3.574%), due 3/8/30 (b)(f) | &nbsp;&nbsp;&nbsp;$1800000 | &nbsp;&nbsp;$1929883 |
| UBS Group AG (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.091%, due 5/14/32 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 895000 | &nbsp;&nbsp;&nbsp;&nbsp; 828203 |
| &nbsp;&nbsp;&nbsp;4.375% (5 Year Treasury Constant Maturity Rate + 3.313%), due 2/10/31 (b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2715000 | &nbsp;&nbsp;&nbsp;&nbsp; 2469508 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30456347 |
| **Building Materials 0.7%** | **Building Materials 0.7%** | **Building Materials 0.7%** |
| JH North America Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 1/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208140 |
| &nbsp;&nbsp;&nbsp;6.125%, due 7/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358496 |
| Masterbrand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 7/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436462 |
| MIWD Holdco II LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 2/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626769 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3629867 |
| **Chemicals 1.5%** | **Chemicals 1.5%** | **Chemicals 1.5%** |
| Alpek SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 2/25/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951419 |
| Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.20%, due 11/15/33 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1668562 |
| Huntsman International LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1914051 |
| Ma'aden Sukuk Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 2/13/35 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734596 |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 8/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710377 |
| Sasol Financing USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 5/3/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032164 |
| SCIH Salt Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 5/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529331 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8540500 |
| **Coal 0.2%** | **Coal 0.2%** | **Coal 0.2%** |
| SunCoke Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 6/30/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299136 |
| **Commercial Services 1.3%** | **Commercial Services 1.3%** | **Commercial Services 1.3%** |
| Belron UK Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 10/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534746 |
| DP World Salaam |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;6.00% (5 Year Treasury Constant Maturity Rate + 5.75%), due 10/3/25 (b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2998091 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 6/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867336 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Commercial Services** | **Commercial Services** | **Commercial Services** |
| Kaspi.KZ JSC |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 3/26/30 | &nbsp;&nbsp;&nbsp;$500000 | &nbsp;&nbsp;$513806 |
| NESCO Holdings II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 4/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1390000 | &nbsp;&nbsp;&nbsp;&nbsp; 1361276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7275255 |
| **Cosmetics & Personal Care 0.3%** | **Cosmetics & Personal Care 0.3%** | **Cosmetics & Personal Care 0.3%** |
| Coty, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 1/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526802 |
| **Diversified Financial Services 2.3%** | **Diversified Financial Services 2.3%** | **Diversified Financial Services 2.3%** |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3572118 |
| Avolon Holdings Funding Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301135 |
| &nbsp;&nbsp;&nbsp;5.75%, due 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1563477 |
| Banco BTG Pactual SA (a) |  |  |
| &nbsp;&nbsp;&nbsp;2.75%, due 1/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533240 |
| &nbsp;&nbsp;&nbsp;5.75%, due 1/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406000 |
| Bread Financial Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.375% (5 Year Treasury Constant Maturity Rate + 4.30%), due 6/15/35 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893350 |
| Macquarie Airfinance Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.40%, due 3/26/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653393 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1198799 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13121512 |
| **Electric 3.2%** | **Electric 3.2%** | **Electric 3.2%** |
| AES Andes SA |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.15% (5 Year Treasury Constant Maturity Rate + 3.835%), due 6/10/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740164 |
| Alpha Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 10/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192295 |
| Aydem Yenilenebilir Enerji A/S (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 2/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845124 |
| &nbsp;&nbsp;&nbsp;9.875%, due 9/30/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920933 |
| Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 3/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260643 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;7.875% (5 Year Treasury Constant Maturity Rate + 3.658%), due 6/15/54 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687746 |
| EnfraGen Energia Sur SA |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 12/30/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187026 |
| IPALCO Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1227265 |
| Kentucky Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 11/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1319815 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Electric** | **Electric** | **Electric** |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 8/1/50 | &nbsp;&nbsp;&nbsp;$1210000 | &nbsp;&nbsp;$825469 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;7.375% (5 Year Treasury Constant Maturity Rate + 3.319%), due 9/15/55 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 735000 | &nbsp;&nbsp;&nbsp;&nbsp; 773825 |
| Sempra |  |  |
| &nbsp;&nbsp;&nbsp;4.125% (5 Year Treasury Constant Maturity Rate + 2.868%), due 4/1/52 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1290000 | &nbsp;&nbsp;&nbsp;&nbsp; 1255135 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 4/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1505000 | &nbsp;&nbsp;&nbsp;&nbsp; 1574044 |
| XPLR Infrastructure Operating Partners LP (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2150987 |
| &nbsp;&nbsp;&nbsp;8.375%, due 1/15/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859360 |
| Zorlu Enerji Elektrik Uretim A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;11.00%, due 4/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17803615 |
| **Engineering & Construction 0.1%** | **Engineering & Construction 0.1%** | **Engineering & Construction 0.1%** |
| Great Lakes Dredge & Dock Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629790 |
| **Food 0.8%** | **Food 0.8%** | **Food 0.8%** |
| JBS USA LUX SARL |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 2/25/55 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218198 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, due 2/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208239 |
| Post Holdings, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 9/15/31 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322316 |
| &nbsp;&nbsp;&nbsp;4.625%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730721 |
| Smithfield Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831808 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4311282 |
| **Forest Products & Paper 0.3%** | **Forest Products & Paper 0.3%** | **Forest Products & Paper 0.3%** |
| Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1778579 |
| **Gas 0.2%** | **Gas 0.2%** | **Gas 0.2%** |
| National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.95%, due 3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090396 |
| **Healthcare-Services 0.2%** | **Healthcare-Services 0.2%** | **Healthcare-Services 0.2%** |
| Prime Healthcare Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.375%, due 9/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133600 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Home Furnishings 0.1%** | **Home Furnishings 0.1%** | **Home Furnishings 0.1%** |
| Vestel Elektronik Sanayi ve Ticaret A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;9.75%, due 5/15/29 | &nbsp;&nbsp;&nbsp;$723000 | &nbsp;&nbsp;$549578 |
| **Housewares 0.3%** | **Housewares 0.3%** | **Housewares 0.3%** |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1390000 | &nbsp;&nbsp;&nbsp;&nbsp; 1470253 |
| **Insurance 0.5%** | **Insurance 0.5%** | **Insurance 0.5%** |
| Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.804% (3 Month SOFR + 2.619%), due 5/17/66 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3253000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2795754 |
| **Internet 1.1%** | **Internet 1.1%** | **Internet 1.1%** |
| Cogent Communications Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 6/15/27 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665563 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137526 |
| Prosus NV |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;4.027%, due 8/3/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769787 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;4.987%, due 1/19/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776625 |
| Rakuten Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;9.75%, due 4/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607985 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5957486 |
| **Investment Companies 0.4%** | **Investment Companies 0.4%** | **Investment Companies 0.4%** |
| GACI First Investment Co. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 1/29/54 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275487 |
| **Iron & Steel 1.0%** | **Iron & Steel 1.0%** | **Iron & Steel 1.0%** |
| Eregli Demir ve Celik Fabrikalari TAS |  |  |
| &nbsp;&nbsp;&nbsp;8.375%, due 7/23/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511753 |
| Metinvest BV |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 4/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998182 |
| Mineral Resources Ltd. (a) |  |  |
| &nbsp;&nbsp;&nbsp;7.00%, due 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283622 |
| &nbsp;&nbsp;&nbsp;9.25%, due 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807471 |
| Samarco Mineracao SA |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;9.50% (9.00% PIK), due 6/30/31 (h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5632519 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Leisure Time 0.6%** | **Leisure Time 0.6%** | **Leisure Time 0.6%** |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 8/1/32 (a) | &nbsp;&nbsp;&nbsp;$1605000 | &nbsp;&nbsp;$1633373 |
| NCL Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 3/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1505000 | &nbsp;&nbsp;&nbsp;&nbsp; 1537842 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3171215 |
| **Lodging 1.0%** | **Lodging 1.0%** | **Lodging 1.0%** |
| Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1580000 | &nbsp;&nbsp;&nbsp;&nbsp; 1615314 |
| Melco Resorts Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, due 7/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046722 |
| Sands China Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 8/8/31 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964841 |
| Studio City Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 1/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859084 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5485961 |
| **Machinery—Construction & Mining 0.2%** | **Machinery—Construction & Mining 0.2%** | **Machinery—Construction & Mining 0.2%** |
| Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 10/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293744 |
| **Media 1.0%** | **Media 1.0%** | **Media 1.0%** |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.10%, due 6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469151 |
| Globo Comunicacao e Participacoes SA |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 1/14/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725791 |
| Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 11/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571428 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.95%, due 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1898097 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5664467 |
| **Mining 1.5%** | **Mining 1.5%** | **Mining 1.5%** |
| Compass Minerals International, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451427 |
| &nbsp;&nbsp;&nbsp;8.00%, due 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919756 |
| Freeport Indonesia PT |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.315%, due 4/14/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194123 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;6.20%, due 4/14/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021281 |
| Perenti Finance Pty. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 4/26/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045590 |
| Vedanta Resources Finance II plc |  |  |
| &nbsp;&nbsp;&nbsp;10.875%, due 9/17/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256046 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Mining** | **Mining** | **Mining** |
| Vedanta Resources Finance II plc |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;10.875%, due 9/17/29 | &nbsp;&nbsp;&nbsp;$550000 | &nbsp;&nbsp;$575688 |
| WE Soda Investments Holding plc |  |  |
| &nbsp;&nbsp;&nbsp;9.375%, due 2/14/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1875000 | &nbsp;&nbsp;&nbsp;&nbsp; 1798463 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8262374 |
| **Miscellaneous—Manufacturing 0.7%** | **Miscellaneous—Manufacturing 0.7%** | **Miscellaneous—Manufacturing 0.7%** |
| Axon Enterprise, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, due 3/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269731 |
| Textron Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.208% (3 Month SOFR + 1.997%), due 2/15/42 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540638 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3810369 |
| **Oil & Gas 3.1%** | **Oil & Gas 3.1%** | **Oil & Gas 3.1%** |
| ADNOC Murban RSC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 9/11/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706985 |
| Azule Energy Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;8.125%, due 1/23/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547555 |
| California Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 6/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741551 |
| Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1108187 |
| Energean Israel Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 3/30/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756409 |
| Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 2/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847061 |
| KazMunayGas National Co. JSC |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, due 4/24/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681051 |
| Kosmos Energy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961945 |
| Moss Creek Resources Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 9/1/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499260 |
| Raizen Fuels Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;6.95%, due 3/5/54 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741339 |
| Transocean International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 2/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875932 |
| Tullow Oil plc |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;10.25%, due 5/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942281 |
| Valaris Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;8.375%, due 4/30/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152007 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17561563 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Oil & Gas Services 0.2%** | **Oil & Gas Services 0.2%** | **Oil & Gas Services 0.2%** |
| Yinson Boronia Production BV |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.947%, due 7/31/42 | &nbsp;&nbsp;&nbsp;$873170 | &nbsp;&nbsp;$971374 |
| **Packaging & Containers 0.0% ‡** | **Packaging & Containers 0.0% ‡** | **Packaging & Containers 0.0% ‡** |
| Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 7/15/26 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78000 | &nbsp;&nbsp;&nbsp;&nbsp; 78011 |
| **Pipelines 2.2%** | **Pipelines 2.2%** | **Pipelines 2.2%** |
| CNX Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, due 4/15/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548681 |
| DCP Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269200 |
| Delek Logistics Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, due 6/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797574 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;Series H |  |  |
| &nbsp;&nbsp;&nbsp;6.50% (5 Year Treasury Constant Maturity Rate + 5.694%), due 11/15/26 (b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2198169 |
| Flex Intermediate Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.363%, due 6/30/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2124761 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 6/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2042043 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 2/1/50 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1549144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12529572 |
| **Real Estate 0.5%** | **Real Estate 0.5%** | **Real Estate 0.5%** |
| Alpha Star Holding VII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 4/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759285 |
| Dar Al-Arkan Sukuk Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 2/26/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055308 |
| MAF Global Securities Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;7.875% (5 Year Treasury Constant Maturity Rate + 4.893%), due 6/30/27 (b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136744 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2951337 |
| **Real Estate Investment Trusts 1.6%** | **Real Estate Investment Trusts 1.6%** | **Real Estate Investment Trusts 1.6%** |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 9/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234498 |
| MPT Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 2/15/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887239 |
| Park Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 10/1/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836534 |
| Starwood Property Trust, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, due 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769490 |
| &nbsp;&nbsp;&nbsp;6.00%, due 4/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268999 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Real Estate Investment Trusts** | **Real Estate Investment Trusts** | **Real Estate Investment Trusts** |
| Trust Fibra Uno |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 1/23/37 (a) | &nbsp;&nbsp;&nbsp;$150000 | &nbsp;&nbsp;$168914 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 1/23/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 680000 | &nbsp;&nbsp;&nbsp;&nbsp; 765746 |
| Uniti Group LP |  |  |
| &nbsp;&nbsp;&nbsp;10.50%, due 2/15/28 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1117000 | &nbsp;&nbsp;&nbsp;&nbsp; 1176424 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9107844 |
| **Retail 0.9%** | **Retail 0.9%** | **Retail 0.9%** |
| Bath & Body Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, due 10/1/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829912 |
| El Puerto de Liverpool SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;6.658%, due 1/22/37 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612333 |
| Sally Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, due 3/1/32 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556191 |
| Staples, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;10.75%, due 9/1/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667419 |
| Victra Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 9/15/29 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1163694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4829549 |
| **Semiconductors 0.2%** | **Semiconductors 0.2%** | **Semiconductors 0.2%** |
| Kioxia Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.25%, due 7/24/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371905 |
| **Software 0.4%** | **Software 0.4%** | **Software 0.4%** |
| Cloud Software Group, Inc. (a) |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 3/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246140 |
| &nbsp;&nbsp;&nbsp;8.25%, due 6/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177436 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2423576 |
| **Telecommunications 1.5%** | **Telecommunications 1.5%** | **Telecommunications 1.5%** |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695162 |
| Axian Telecom Holding & Management plc |  |  |
| &nbsp;&nbsp;&nbsp;7.25%, due 7/11/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450553 |
| Maya SAS |  |  |
| &nbsp;&nbsp;&nbsp;8.50%, due 4/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190467 |
| Total Play Telecomunicaciones SA de CV |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;10.50%, due 12/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750471 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;11.125%, due 12/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197269 |
| Veon Midco BV |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, due 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4214834 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Telecommunications** | **Telecommunications** | **Telecommunications** |
| Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.50%, due 10/15/33 (a) | &nbsp;&nbsp;&nbsp;$995000 | &nbsp;&nbsp;$994731 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8493487 |
| **Water 0.1%** | **Water 0.1%** | **Water 0.1%** |
| Aegea Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;9.00%, due 1/20/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630000 | &nbsp;&nbsp;&nbsp;&nbsp; 667837 |
| Total Corporate Bonds<br> (Cost $220,690,179) |  | &nbsp;&nbsp;&nbsp;&nbsp;220419634 |
| **Foreign Government Bonds 6.0%** | **Foreign Government Bonds 6.0%** | **Foreign Government Bonds 6.0%** |
| **Angola 0.1%** | **Angola 0.1%** | **Angola 0.1%** |
| Angola Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;8.75%, due 4/14/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762981 |
| **Argentina 0.4%** | **Argentina 0.4%** | **Argentina 0.4%** |
| Argentina Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 7/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390656 |
| &nbsp;&nbsp;&nbsp;3.50%, due 7/9/41 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360997 |
| &nbsp;&nbsp;&nbsp;4.125%, due 7/9/35 (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614377 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366030 |
| **Chile 0.4%** | **Chile 0.4%** | **Chile 0.4%** |
| Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;6.44%, due 1/26/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513210 |
| Empresa Nacional del Petroleo |  |  |
| &nbsp;&nbsp;&nbsp;3.45%, due 9/16/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714801 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2228011 |
| **Colombia 0.2%** | **Colombia 0.2%** | **Colombia 0.2%** |
| Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 5/28/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833663 |
| &nbsp;&nbsp;&nbsp;8.375%, due 1/19/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1319071 |
| **Cote D'Ivoire 0.1%** | **Cote D'Ivoire 0.1%** | **Cote D'Ivoire 0.1%** |
| Ivory Coast Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, due 1/30/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709145 |
| **Dominican Republic 0.3%** | **Dominican Republic 0.3%** | **Dominican Republic 0.3%** |
| Dominican Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 9/23/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765455 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Foreign Government Bonds** | **Foreign Government Bonds** | **Foreign Government Bonds** |
| **Ecuador 0.2%** | **Ecuador 0.2%** | **Ecuador 0.2%** |
| Ecuador Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;6.90%, due 7/31/35 (c) | &nbsp;&nbsp;&nbsp;$1187000 | &nbsp;&nbsp;$884315 |
| **Egypt 0.2%** | **Egypt 0.2%** | **Egypt 0.2%** |
| Egypt Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, due 5/29/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 815000 | &nbsp;&nbsp;&nbsp;&nbsp; 800353 |
| Egyptian Financial Co. for Sovereign Taskeek (The) |  |  |
| &nbsp;&nbsp;&nbsp;7.95%, due 10/7/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499870 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300223 |
| **Israel 0.3%** | **Israel 0.3%** | **Israel 0.3%** |
| Israel Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, due 3/12/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1820941 |
| **Mexico 0.4%** | **Mexico 0.4%** | **Mexico 0.4%** |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;10.00%, due 2/7/33 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2175938 |
| **Morocco 0.4%** | **Morocco 0.4%** | **Morocco 0.4%** |
| OCP SA |  |  |
| &nbsp;&nbsp;&nbsp;6.10%, due 4/30/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209498 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;6.875%, due 4/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2094760 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2304258 |
| **Paraguay 0.2%** | **Paraguay 0.2%** | **Paraguay 0.2%** |
| Paraguay Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;6.10%, due 8/11/44 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073741 |
| **Poland 0.3%** | **Poland 0.3%** | **Poland 0.3%** |
| Poland Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, due 9/18/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431056 |
| **Romania 0.2%** | **Romania 0.2%** | **Romania 0.2%** |
| Romanian Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 2/14/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124020 |
| **Saudi Arabia 0.4%** | **Saudi Arabia 0.4%** | **Saudi Arabia 0.4%** |
| KSA Sukuk Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, due 6/4/34 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963332 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Foreign Government Bonds** | **Foreign Government Bonds** | **Foreign Government Bonds** |
| **Saudi Arabia** | **Saudi Arabia** | **Saudi Arabia** |
| Saudi Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, due 7/18/33 | &nbsp;&nbsp;&nbsp;$310000 | &nbsp;&nbsp;$314491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2277823 |
| **Supranational 1.1%** | **Supranational 1.1%** | **Supranational 1.1%** |
| Africa Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.55%, due 10/8/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1021029 |
| &nbsp;&nbsp;&nbsp;7.50% (5 Year Treasury Constant Maturity Rate + 3.015%), due 1/21/30 (a)(b)(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500883 |
| African Export-Import Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;3.994%, due 9/21/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1897280 |
| Banque Ouest Africaine de Developpement |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;4.70%, due 10/22/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927806 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6346998 |
| **Ukraine 0.2%** | **Ukraine 0.2%** | **Ukraine 0.2%** |
| Ukraine Government Bond (c) |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436235 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509262 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945497 |
| **United Arab Emirates 0.3%** | **United Arab Emirates 0.3%** | **United Arab Emirates 0.3%** |
| Abu Dhabi Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 4/30/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379235 |
| **Uzbekistan 0.3%** | **Uzbekistan 0.3%** | **Uzbekistan 0.3%** |
| Uzbekistan Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;7.85%, due 10/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397745 |
| Total Foreign Government Bonds<br> (Cost $32,642,997) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33612483 |
| **Loan Assignments 3.3%** | **Loan Assignments 3.3%** | **Loan Assignments 3.3%** |
| **Cargo Transport 0.2%** | **Cargo Transport 0.2%** | **Cargo Transport 0.2%** |
| Genesee & Wyoming, Inc. | Genesee & Wyoming, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan | &nbsp;&nbsp;&nbsp;First Lien Initial Term Loan |  |
| &nbsp;&nbsp;&nbsp;5.752% (3 Month SOFR + 1.75%), due 4/10/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1376100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370175 |
| **Chemicals, Plastics & Rubber 0.7%** | **Chemicals, Plastics & Rubber 0.7%** | **Chemicals, Plastics & Rubber 0.7%** |
| INEOS US Petrochem LLC | INEOS US Petrochem LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien New Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;8.513% (1 Month SOFR + 4.25%), due 4/2/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340317 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Chemicals, Plastics & Rubber** | **Chemicals, Plastics & Rubber** | **Chemicals, Plastics & Rubber** |
| Magnera Corp. | Magnera Corp. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan | &nbsp;&nbsp;&nbsp;First Lien Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.449% (3 Month SOFR + 4.25%), due 11/4/31 (b) | &nbsp;&nbsp;&nbsp;$2849796 | &nbsp;&nbsp;$2824860 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165177 |
| **Construction & Buildings 0.2%** | **Construction & Buildings 0.2%** | **Construction & Buildings 0.2%** |
| Oldcastle BuildingEnvelope, Inc. | Oldcastle BuildingEnvelope, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.252% (3 Month SOFR + 4.25%), due 4/30/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1104308 | &nbsp;&nbsp;&nbsp;&nbsp; 1031147 |
| **Diversified/Conglomerate Service 0.2%** | **Diversified/Conglomerate Service 0.2%** | **Diversified/Conglomerate Service 0.2%** |
| TruGreen LP | TruGreen LP |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;8.263% (1 Month SOFR + 4.00%), due 11/2/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895038 |
| **Finance 0.4%** | **Finance 0.4%** | **Finance 0.4%** |
| Arches Buyer, Inc. | Arches Buyer, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien New Term Loan | &nbsp;&nbsp;&nbsp;First Lien New Term Loan |  |
| &nbsp;&nbsp;&nbsp;7.513% (1 Month SOFR + 3.25%), due 12/6/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092315 |
| Fortress Intermediate 3, Inc. | Fortress Intermediate 3, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B | &nbsp;&nbsp;&nbsp;First Lien Term Loan B |  |
| &nbsp;&nbsp;&nbsp;7.255% (1 Month SOFR + 3.00%), due 6/27/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270195 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362510 |
| **Healthcare, Education & Childcare 0.2%** | **Healthcare, Education & Childcare 0.2%** | **Healthcare, Education & Childcare 0.2%** |
| Endo Finance Holdings, Inc. | Endo Finance Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan |  |
| &nbsp;&nbsp;&nbsp;8.163% (1 Month SOFR + 4.00%), due 4/23/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257058 |
| **High Tech Industries 0.3%** | **High Tech Industries 0.3%** | **High Tech Industries 0.3%** |
| Ahead DB Holdings LLC | Ahead DB Holdings LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Term Loan B3 | &nbsp;&nbsp;&nbsp;First Lien Term Loan B3 |  |
| &nbsp;&nbsp;&nbsp;6.752% (3 Month SOFR + 2.75%), due 2/3/31 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472350 |
| **Media 0.6%** | **Media 0.6%** | **Media 0.6%** |
| DIRECTV Financing LLC | DIRECTV Financing LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B | &nbsp;&nbsp;&nbsp;First Lien 2024 Refinancing Term Loan B |  |
| &nbsp;&nbsp;&nbsp;9.82% (3 Month SOFR + 5.25%), due 8/2/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1422522 |
| Virgin Media Bristol LLC | Virgin Media Bristol LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Advance Term Loan Q | &nbsp;&nbsp;&nbsp;First Lien Facility Advance Term Loan Q |  |
| &nbsp;&nbsp;&nbsp;7.515% (1 Month SOFR + 3.25%), due 1/31/29 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2112836 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3535358 |
| **Services: Business 0.3%** | **Services: Business 0.3%** | **Services: Business 0.3%** |
| Beach Acquisition Bidco LLC | Beach Acquisition Bidco LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 | &nbsp;&nbsp;&nbsp;First Lien Tranche Term Loan B1 |  |
| &nbsp;&nbsp;&nbsp;7.308% (3 Month SOFR + 3.25%), due 9/13/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557313 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Loan Assignments** | **Loan Assignments** | **Loan Assignments** |
| **Services: Business** | **Services: Business** | **Services: Business** |
| Staples, Inc. | Staples, Inc. |  |
| &nbsp;&nbsp;&nbsp;First Lien Closing Date Term Loan | &nbsp;&nbsp;&nbsp;First Lien Closing Date Term Loan |  |
| &nbsp;&nbsp;&nbsp;10.046% (3 Month SOFR + 5.75%), due 8/23/29 (b) | &nbsp;&nbsp;&nbsp;$1107204 | &nbsp;&nbsp;$1046769 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604082 |
| **Software 0.2%** | **Software 0.2%** | **Software 0.2%** |
| OPAL US LLC | OPAL US LLC |  |
| &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B2 | &nbsp;&nbsp;&nbsp;First Lien Facility Term Loan B2 |  |
| &nbsp;&nbsp;&nbsp;7.252% (3 Month SOFR + 3.25%), due 4/23/32 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 890000 | &nbsp;&nbsp;&nbsp;&nbsp; 892364 |
| Total Loan Assignments<br> (Cost $18,572,463) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18585259 |
| **Mortgage-Backed Securities 29.8%** | **Mortgage-Backed Securities 29.8%** | **Mortgage-Backed Securities 29.8%** |
| **Agency (Collateralized Mortgage Obligations) 8.1%** | **Agency (Collateralized Mortgage Obligations) 8.1%** | **Agency (Collateralized Mortgage Obligations) 8.1%** |
| FHLMC | FHLMC |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5021, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.55%), due 10/25/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3326132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97381 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5164, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.75%), due 11/25/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7831551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301119 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5200, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.50%), due 2/25/52 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72565 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5351, Class EO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 10/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814893 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5357, Class OE |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 11/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664275 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5363 |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 12/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789732 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4839, Class WO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 8/15/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647774 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5514, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;0.744% (SOFR 30A + 5.10%), due 3/25/55 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3540671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131607 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5471, Class SK |  |  |
| &nbsp;&nbsp;&nbsp;0.994% (SOFR 30A + 5.35%), due 8/25/54 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4245224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180616 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5531, Class SD |  |  |
| &nbsp;&nbsp;&nbsp;1.544% (SOFR 30A + 5.90%), due 4/25/55 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4122617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261929 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4993, Class KS |  |  |
| &nbsp;&nbsp;&nbsp;1.579% (SOFR 30A + 5.936%), due 7/25/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4322139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594614 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5038, Class IB |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/25/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137594 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5547, Class ES |  |  |
| &nbsp;&nbsp;&nbsp;2.644% (SOFR 30A + 7.00%), due 6/25/55 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1922178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161660 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5205, Class KI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/25/48 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171965 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5152, Class BI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/25/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3053612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547663 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5070, Class PI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 8/25/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2344596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427021 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| FHLMC | FHLMC |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5023, Class LI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/25/50 (i) | &nbsp;&nbsp;&nbsp;$1323913 | &nbsp;&nbsp;$216591 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5167, Class GI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 11/25/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3672430 | &nbsp;&nbsp;&nbsp;&nbsp; 634077 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5191 |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 9/25/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1914734 | &nbsp;&nbsp;&nbsp;&nbsp; 348124 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5036 |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 11/25/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2428318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527106 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5040 |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 11/25/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228694 |
| FHLMC, Strips (i) | FHLMC, Strips (i) |  |
| &nbsp;&nbsp;&nbsp;Series 311, Class S1 |  |  |
| &nbsp;&nbsp;&nbsp;1.463% (SOFR 30A + 5.836%), due 8/15/43 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3885997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424602 |
| &nbsp;&nbsp;&nbsp;Series 397, Class C61 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 1/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340707 |
| FNMA | FNMA |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-70, Class AO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 3/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841699 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-45 |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 10/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912176 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-44, Class SD |  |  |
| &nbsp;&nbsp;&nbsp;0.744% (SOFR 30A + 5.10%), due 6/25/55 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5316592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199010 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-82, Class DS |  |  |
| &nbsp;&nbsp;&nbsp;0.794% (SOFR 30A + 5.15%), due 11/25/54 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4299804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178988 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-10, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;1.394% (SOFR 30A + 5.75%), due 2/25/52 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262146 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2016-57, Class SN |  |  |
| &nbsp;&nbsp;&nbsp;1.579% (SOFR 30A + 5.936%), due 6/25/46 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1891093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217746 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-32, Class SB |  |  |
| &nbsp;&nbsp;&nbsp;1.579% (SOFR 30A + 5.936%), due 6/25/49 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222684 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-23, Class PS |  |  |
| &nbsp;&nbsp;&nbsp;1.579% (SOFR 30A + 5.936%), due 2/25/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325068 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2016-19, Class SD |  |  |
| &nbsp;&nbsp;&nbsp;1.629% (SOFR 30A + 5.986%), due 4/25/46 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3380291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315591 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-12, Class JI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 3/25/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1779438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284046 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-54, Class HI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 6/25/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78597 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-18, Class SM |  |  |
| &nbsp;&nbsp;&nbsp;2.744% (SOFR 30A + 7.10%), due 9/25/54 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134119 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-85, Class BI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 12/25/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3815684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684786 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-8, Class ID |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/25/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2386590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512947 |
| FNMA, Strips (i) | FNMA, Strips (i) |  |
| &nbsp;&nbsp;&nbsp;Series 426, Class C32 |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, due 2/25/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6214399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594138 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| FNMA, Strips (i) | FNMA, Strips (i) |  |
| &nbsp;&nbsp;&nbsp;Series 440, Class C46 |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 10/25/53 | &nbsp;&nbsp;&nbsp;$4498118 | &nbsp;&nbsp;$960835 |
| &nbsp;&nbsp;&nbsp;Series 438, Class C34 |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 8/25/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2552923 | &nbsp;&nbsp;&nbsp;&nbsp; 573747 |
| &nbsp;&nbsp;&nbsp;Series 2024-81 |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 7/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2961144 | &nbsp;&nbsp;&nbsp;&nbsp; 649111 |
| GNMA | GNMA |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-1, Class YS |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (1 Month SOFR + 2.716%), due 1/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3465428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43117 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-129, Class SB |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (1 Month SOFR + 3.086%), due 9/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4624549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66784 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-16, Class AS |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (1 Month SOFR + 2.636%), due 1/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6448156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64986 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-29, Class AS |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 2.70%), due 2/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6158093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66605 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-97, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 2.60%), due 6/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4895106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62880 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-136, Class SB |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.20%), due 8/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40719 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-158, Class SB |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.70%), due 9/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153095 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-205, Class DS |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.20%), due 11/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8071650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146814 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-226, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 1.70%), due 12/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4875208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11643 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-78, Class S |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.70%), due 4/20/52 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3396116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61170 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-87, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.30%), due 5/20/52 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6557050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100748 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-101, Class SB |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.30%), due 6/20/52 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3285794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50482 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-107, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon) (SOFR 30A + 3.47%), due 6/20/52 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16570844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185289 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-66, Class OQ |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 7/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044720 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-53 |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 4/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499972 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-101, Class EO |  |  |
| &nbsp;&nbsp;&nbsp;(zero coupon), due 7/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663737 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-51, Class SX |  |  |
| &nbsp;&nbsp;&nbsp;0.811% (SOFR 30A + 5.20%), due 3/20/54 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12539721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540466 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-80, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;0.861% (SOFR 30A + 5.25%), due 6/20/53 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6475269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300884 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-166, Class CA |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 11/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2653500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003438 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-183, Class HT |  |  |
| &nbsp;&nbsp;&nbsp;1.381% (SOFR 30A + 5.77%), due 12/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3890659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510736 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| GNMA | GNMA |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-190, Class HS |  |  |
| &nbsp;&nbsp;&nbsp;1.80% (1 Month SOFR + 5.936%), due 2/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;$7489719 | &nbsp;&nbsp;$862509 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-34, Class SC |  |  |
| &nbsp;&nbsp;&nbsp;1.80% (1 Month SOFR + 5.936%), due 3/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3445042 | &nbsp;&nbsp;&nbsp;&nbsp; 457898 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-166, Class IC |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 11/20/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1695728 | &nbsp;&nbsp;&nbsp;&nbsp; 210983 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-188 |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 12/20/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3458249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399021 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-205, Class GA |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 11/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469627 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-10, Class IC |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 11/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2807499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339419 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-146, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 10/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355910 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-167, Class SN |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 11/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221550 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-179, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 11/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551036 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-189, Class SU |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 12/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126468 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-46, Class TS |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 3/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1746073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240297 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-57, Class SA |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 3/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5637918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778275 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-57, Class SD |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 3/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2285457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323605 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-96, Class NS |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 6/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4462518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632682 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-96, Class SN |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 6/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3213521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415206 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-97, Class SM |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 6/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3356585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483417 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-122, Class HS |  |  |
| &nbsp;&nbsp;&nbsp;2.05% (1 Month SOFR + 6.186%), due 7/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454035 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-96, Class JS |  |  |
| &nbsp;&nbsp;&nbsp;2.10% (1 Month SOFR + 6.236%), due 6/20/51 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2955744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439345 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-86, Class SE |  |  |
| &nbsp;&nbsp;&nbsp;2.261% (SOFR 30A + 6.65%), due 9/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2213362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347097 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-60, Class ES |  |  |
| &nbsp;&nbsp;&nbsp;2.422% (SOFR 30A + 11.20%), due 4/20/53 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1308969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186851 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-56, Class FE |  |  |
| &nbsp;&nbsp;&nbsp;2.50% (SOFR 30A + 0.20%), due 10/20/50 (b)(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4255362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621888 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-1, Class PI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 12/20/50 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179561 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-137, Class HI |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 8/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2637928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390578 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| GNMA | GNMA |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-44, Class IQ |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 3/20/51 (i) | &nbsp;&nbsp;&nbsp;$4596842 | &nbsp;&nbsp;$777471 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-67, Class PI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2070031 | &nbsp;&nbsp;&nbsp;&nbsp; 351960 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-74, Class HI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 4/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462898 | &nbsp;&nbsp;&nbsp;&nbsp; 70155 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-98, Class IN |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1578134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276273 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-48, Class JI |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2589074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438547 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-207 |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 8/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385568 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-177, Class IM |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3415402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582626 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-146, Class IN |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, due 8/20/51 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4423967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789476 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-66, Class MP |  |  |
| &nbsp;&nbsp;&nbsp;3.522% (SOFR 30A + 12.30%), due 5/20/53 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1606128 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2016-93, Class AI |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/20/44 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477441 |
| Multifamily Connecticut Avenue Securities Trust (a)(b) | Multifamily Connecticut Avenue Securities Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-01, Class M10 |  |  |
| &nbsp;&nbsp;&nbsp;8.206% (SOFR 30A + 3.85%), due 7/25/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587190 |
| &nbsp;&nbsp;&nbsp;Series 2019-01, Class B10 |  |  |
| &nbsp;&nbsp;&nbsp;9.971% (SOFR 30A + 5.614%), due 10/25/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535785 |
| &nbsp;&nbsp;&nbsp;Series 2020-01, Class CE |  |  |
| &nbsp;&nbsp;&nbsp;11.971% (SOFR 30A + 7.614%), due 3/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2664118 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45318024 |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 11.4%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 11.4%** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations) 11.4%** |
| BANK | BANK |  |
| &nbsp;&nbsp;&nbsp;Series 2020-BN25, Class D |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 1/15/63 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431866 |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK6, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.10%, due 7/15/60 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1676366 |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK4, Class C |  |  |
| &nbsp;&nbsp;&nbsp;4.372%, due 5/15/50 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1774009 |
| Bank of America Merrill Lynch Commercial Mortgage Trust | Bank of America Merrill Lynch Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2016-UB10, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 7/15/49 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156457 |
| Benchmark Mortgage Trust (k) | Benchmark Mortgage Trust (k) |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B6, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.239%, due 10/10/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949316 |
| &nbsp;&nbsp;&nbsp;Series 2019-B14, Class C |  |  |
| &nbsp;&nbsp;&nbsp;3.903%, due 12/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155726 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| BF Mortgage Trust | BF Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2019-NYT, Class F |  |  |
| &nbsp;&nbsp;&nbsp;7.448% (1 Month SOFR + 3.297%), due 12/15/35 (a)(b) | &nbsp;&nbsp;&nbsp;$1835000 | &nbsp;&nbsp;$1613869 |
| BSST Mortgage Trust | BSST Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1700, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.451% (1 Month SOFR + 1.30%), due 2/15/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1305000 | &nbsp;&nbsp;&nbsp;&nbsp; 1149352 |
| BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-BRBK, Class D |  |  |
| &nbsp;&nbsp;&nbsp;10.117% (1 Month SOFR + 5.971%), due 10/15/41 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1531894 |
| BX Trust | BX Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-VLT7, Class E |  |  |
| &nbsp;&nbsp;&nbsp;7.90% (1 Month SOFR + 3.75%), due 7/15/44 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381000 |
| CD Mortgage Trust | CD Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2017-CD4, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.30%, due 5/10/50 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876131 |
| CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2016-C3, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.052%, due 1/10/48 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275917 |
| COMM Mortgage Trust | COMM Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2020-CX, Class D |  |  |
| &nbsp;&nbsp;&nbsp;2.773%, due 11/10/46 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1707749 |
| Commercial Mortgage Trust (a) | Commercial Mortgage Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2014-CR20, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.222%, due 11/10/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649700 |
| &nbsp;&nbsp;&nbsp;Series 2016-DC2, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.085%, due 2/10/49 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3099971 |
| &nbsp;&nbsp;&nbsp;Series 2018-HCLV, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.446% (1 Month SOFR + 1.296%), due 9/15/33 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929200 |
| CSMC OA LLC | CSMC OA LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2014-USA, Class E |  |  |
| &nbsp;&nbsp;&nbsp;4.373%, due 9/15/37 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867054 |
| DBUBS Mortgage Trust | DBUBS Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2011-LC3A, Class PM2 |  |  |
| &nbsp;&nbsp;&nbsp;5.268%, due 5/10/44 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312020 |
| Durst Commercial Mortgage Trust | Durst Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-151, Class D |  |  |
| &nbsp;&nbsp;&nbsp;7.018%, due 8/10/42 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381553 |
| FHLMC MSCR Trust (a)(b) | FHLMC MSCR Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-MN3, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;6.656% (SOFR 30A + 2.30%), due 11/25/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562685 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-MN11, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;7.006% (SOFR 30A + 2.65%), due 7/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394034 |
| &nbsp;&nbsp;&nbsp;Series 2024-MN8, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;8.606% (SOFR 30A + 4.25%), due 5/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029105 |
| &nbsp;&nbsp;&nbsp;Series 2025-MN10, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;9.305% (SOFR 30A + 4.95%), due 2/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1487424 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2024-MN9, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;10.348% (SOFR 30A + 6.00%), due 10/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564351 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| GNMA (i) | GNMA (i) |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-112 |  |  |
| &nbsp;&nbsp;&nbsp;0.564%, due 3/16/66 (k) | &nbsp;&nbsp;&nbsp;$7105106 | &nbsp;&nbsp;$361364 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-194, Class CI |  |  |
| &nbsp;&nbsp;&nbsp;0.817%, due 10/16/65 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6518630 | &nbsp;&nbsp;&nbsp;&nbsp; 412897 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-177 |  |  |
| &nbsp;&nbsp;&nbsp;0.82%, due 6/16/62 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5229382 | &nbsp;&nbsp;&nbsp;&nbsp; 311757 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-159, Class CI |  |  |
| &nbsp;&nbsp;&nbsp;0.954%, due 7/16/65 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8876891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637288 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2020-168, Class IA |  |  |
| &nbsp;&nbsp;&nbsp;0.974%, due 12/16/62 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4339409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312612 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2021-47 |  |  |
| &nbsp;&nbsp;&nbsp;0.992%, due 3/16/61 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10063665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675684 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2022-185, Class DI |  |  |
| &nbsp;&nbsp;&nbsp;1.022%, due 10/16/65 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3802197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266061 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-172 |  |  |
| &nbsp;&nbsp;&nbsp;1.33%, due 2/16/66 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5988527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555956 |
| GS Mortgage Securities Trust | GS Mortgage Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2015-GC30, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.384%, due 5/10/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1552950 |
| J.P. Morgan Chase Commercial Mortgage Securities Trust | J.P. Morgan Chase Commercial Mortgage Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2012-WLDN, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.905%, due 5/5/30 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429684 |
| JPMCC Commercial Mortgage Securities Trust | JPMCC Commercial Mortgage Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2019-COR5, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 6/13/52 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362472 |
| JPMDB Commercial Mortgage Securities Trust | JPMDB Commercial Mortgage Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2017-C7, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 10/15/50 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1294168 |
| LSTAR Commercial Mortgage Trust | LSTAR Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2017-5, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.822%, due 3/10/50 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132064 |
| Morgan Stanley Bank of America Merrill Lynch Trust (a)(k) | Morgan Stanley Bank of America Merrill Lynch Trust (a)(k) |  |
| &nbsp;&nbsp;&nbsp;Series 2015-C22, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.113%, due 4/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209000 |
| &nbsp;&nbsp;&nbsp;Series 2015-C23, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.297%, due 7/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557808 |
| Natixis Commercial Mortgage Securities Trust | Natixis Commercial Mortgage Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2PAC, Class AMZ1 |  |  |
| &nbsp;&nbsp;&nbsp;3.617%, due 1/15/37 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181228 |
| NCMF Trust | NCMF Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-MFS, Class E |  |  |
| &nbsp;&nbsp;&nbsp;7.78%, due 6/10/33 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455921 |
| ROCK Trust | ROCK Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class E |  |  |
| &nbsp;&nbsp;&nbsp;8.819%, due 11/13/41 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208316 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** | **Commercial Mortgage Loans (Collateralized Mortgage Obligations)** |
| SKY Trust | SKY Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-LINE, Class D |  |  |
| &nbsp;&nbsp;&nbsp;10.084% (1 Month SOFR + 5.934%), due 4/15/42 (a)(b) | &nbsp;&nbsp;&nbsp;$1060614 | &nbsp;&nbsp;$1058699 |
| UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C10, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/15/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 927909 |
| &nbsp;&nbsp;&nbsp;Series 2019-C16, Class AS |  |  |
| &nbsp;&nbsp;&nbsp;3.887%, due 4/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 615000 | &nbsp;&nbsp;&nbsp;&nbsp; 583397 |
| &nbsp;&nbsp;&nbsp;Series 2019-C18, Class C |  |  |
| &nbsp;&nbsp;&nbsp;4.052%, due 12/15/52 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026460 |
| &nbsp;&nbsp;&nbsp;Series 2018-C9, Class C |  |  |
| &nbsp;&nbsp;&nbsp;5.109%, due 3/15/51 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965011 |
| Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C43, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 3/15/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489373 |
| &nbsp;&nbsp;&nbsp;Series 2018-C44, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, due 5/15/51 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266195 |
| &nbsp;&nbsp;&nbsp;Series 2016-NXS6, Class D |  |  |
| &nbsp;&nbsp;&nbsp;3.059%, due 11/15/49 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2393682 |
| &nbsp;&nbsp;&nbsp;Series 2017-C39, Class D |  |  |
| &nbsp;&nbsp;&nbsp;4.503%, due 9/15/50 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348962 |
| &nbsp;&nbsp;&nbsp;Series 2022-ONL, Class E |  |  |
| &nbsp;&nbsp;&nbsp;5.092%, due 12/15/39 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262827 |
| &nbsp;&nbsp;&nbsp;Series 2016-NXS5, Class D |  |  |
| &nbsp;&nbsp;&nbsp;5.118%, due 1/15/59 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377121 |
| WP Glimcher Mall Trust | WP Glimcher Mall Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2015-WPG, Class C |  |  |
| &nbsp;&nbsp;&nbsp;3.633%, due 6/5/35 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383337 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63956952 |
| **Whole Loan (Collateralized Mortgage Obligations) 10.3%** | **Whole Loan (Collateralized Mortgage Obligations) 10.3%** | **Whole Loan (Collateralized Mortgage Obligations) 10.3%** |
| Angel Oak Mortgage Trust | Angel Oak Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-3, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;5.42%, due 3/25/70 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918231 |
| BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2024-NQM8, Class A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, due 8/1/53 (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630884 |
| CIM Trust | CIM Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2021-J2, Class AS |  |  |
| &nbsp;&nbsp;&nbsp;0.21%, due 4/25/51 (a)(i)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46301507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566494 |
| Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2014-C, Class B3 |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 2/25/54 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785821 |
| Connecticut Avenue Securities Trust (a)(b) | Connecticut Avenue Securities Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-R01, Class 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.048% (SOFR 30A + 1.70%), due 1/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721831 |
| &nbsp;&nbsp;&nbsp;Series 2025-R02, Class 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.298% (SOFR 30A + 1.95%), due 2/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981224 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| Connecticut Avenue Securities Trust (a)(b) | Connecticut Avenue Securities Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2024-R05, Class 2B1 |  |  |
| &nbsp;&nbsp;&nbsp;6.356% (SOFR 30A + 2.00%), due 7/25/44 | &nbsp;&nbsp;&nbsp;$1160000 | &nbsp;&nbsp;$1159995 |
| &nbsp;&nbsp;&nbsp;Series 2021-R03, Class 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;7.106% (SOFR 30A + 2.75%), due 12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 457696 |
| &nbsp;&nbsp;&nbsp;Series 2020-R02, Class 2B1 |  |  |
| &nbsp;&nbsp;&nbsp;7.471% (SOFR 30A + 3.114%), due 1/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 615000 | &nbsp;&nbsp;&nbsp;&nbsp; 628936 |
| &nbsp;&nbsp;&nbsp;Series 2023-R07, Class 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;7.598% (SOFR 30A + 3.25%), due 9/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2817792 |
| &nbsp;&nbsp;&nbsp;Series 2023-R03, Class 2M2 |  |  |
| &nbsp;&nbsp;&nbsp;8.256% (SOFR 30A + 3.90%), due 4/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2802311 |
| &nbsp;&nbsp;&nbsp;Series 2020-SBT1, Class 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;11.221% (SOFR 30A + 6.864%), due 2/25/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2220918 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2B2 |  |  |
| &nbsp;&nbsp;&nbsp;12.006% (SOFR 30A + 7.65%), due 1/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2035000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153081 |
| &nbsp;&nbsp;&nbsp;Series 2019-HRP1, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;13.721% (SOFR 30A + 9.364%), due 11/25/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2578293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2758930 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1B2 |  |  |
| &nbsp;&nbsp;&nbsp;14.206% (SOFR 30A + 9.85%), due 3/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719756 |
| FHLMC STACR REMIC Trust (a)(b) | FHLMC STACR REMIC Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;6.006% (SOFR 30A + 1.65%), due 2/25/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 |
| &nbsp;&nbsp;&nbsp;Series 2023-DNA2, Class M1B |  |  |
| &nbsp;&nbsp;&nbsp;7.598% (SOFR 30A + 3.25%), due 4/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497164 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA6, Class B1 |  |  |
| &nbsp;&nbsp;&nbsp;7.756% (SOFR 30A + 3.40%), due 10/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252552 |
| &nbsp;&nbsp;&nbsp;Series 2020-HQA1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.571% (SOFR 30A + 5.214%), due 1/25/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904686 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;9.606% (SOFR 30A + 5.25%), due 3/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000982 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA3, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;10.606% (SOFR 30A + 6.25%), due 9/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2730530 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA4, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;11.356% (SOFR 30A + 7.00%), due 12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3493960 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;11.456% (SOFR 30A + 7.10%), due 1/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035993 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA2, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;12.856% (SOFR 30A + 8.50%), due 2/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816841 |
| FHLMC STACR Securitized Participation Interests Trust | FHLMC STACR Securitized Participation Interests Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2018-SPI3, Class B |  |  |
| &nbsp;&nbsp;&nbsp;4.156%, due 8/25/48 (a)(j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2315340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1798951 |
| FHLMC STACR Trust (a)(b) | FHLMC STACR Trust (a)(b) |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-FTR3, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;9.271% (SOFR 30A + 4.914%), due 9/25/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4078988 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-FTR2, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;11.871% (SOFR 30A + 7.514%), due 11/25/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1979779 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2019-FTR1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;12.821% (SOFR 30A + 8.464%), due 1/25/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029476 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| J.P. Morgan Mortgage Trust | J.P. Morgan Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-5MPR, Class A1D |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 11/25/55 (a)(c) | &nbsp;&nbsp;&nbsp;$1207284 | &nbsp;&nbsp;$1212194 |
| LOANDEPOT GMSR Master Trust | LOANDEPOT GMSR Master Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-GT2, Class A |  |  |
| &nbsp;&nbsp;&nbsp;7.51% (1 Month SOFR + 3.15%), due 7/16/30 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1595000 | &nbsp;&nbsp;&nbsp;&nbsp; 1600174 |
| Mill City Mortgage Loan Trust (a)(j) | Mill City Mortgage Loan Trust (a)(j) |  |
| &nbsp;&nbsp;&nbsp;Series 2018-4, Class B4 |  |  |
| &nbsp;&nbsp;&nbsp;3.095%, due 4/25/66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926396 |
| &nbsp;&nbsp;&nbsp;Series 2018-3, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, due 8/25/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2115490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633967 |
| &nbsp;&nbsp;&nbsp;Series 2018-3, Class B4 |  |  |
| &nbsp;&nbsp;&nbsp;3.653%, due 8/25/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608747 |
| OBX Trust | OBX Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2025-J3, Class AF |  |  |
| &nbsp;&nbsp;&nbsp;5.808% (SOFR 30A + 1.50%), due 10/25/55 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865001 |
| STACR Trust | STACR Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2018-HRP1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;16.221% (SOFR 30A + 11.864%), due 5/25/43 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2372926 |
| Towd Point Mortgage Trust (a)(j) | Towd Point Mortgage Trust (a)(j) |  |
| &nbsp;&nbsp;&nbsp;Series 2018-2, Class B5 |  |  |
| &nbsp;&nbsp;&nbsp;3.475%, due 3/25/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3780371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661589 |
| &nbsp;&nbsp;&nbsp;Series 2017-4, Class B5 |  |  |
| &nbsp;&nbsp;&nbsp;3.606%, due 6/25/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807291 |
| &nbsp;&nbsp;&nbsp;Series 2019-1, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;3.783%, due 3/25/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423437 |
| Verus Securitization Trust | Verus Securitization Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2023-INV2, Class B2 |  |  |
| &nbsp;&nbsp;&nbsp;8.041%, due 8/25/68 (a)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001429 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57656953 |
| Total Mortgage-Backed Securities<br> (Cost $162,595,473) |  | &nbsp;&nbsp;&nbsp;&nbsp;166931929 |
| **U.S. Government & Federal Agencies 4.4%** | **U.S. Government & Federal Agencies 4.4%** | **U.S. Government & Federal Agencies 4.4%** |
| **United States Treasury Bonds 0.5%** | **United States Treasury Bonds 0.5%** | **United States Treasury Bonds 0.5%** |
| U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
| &nbsp;&nbsp;&nbsp;4.75%, due 8/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2112236 |
| &nbsp;&nbsp;&nbsp;4.875%, due 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894551 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006787 |
| **United States Treasury Notes 3.9%** | **United States Treasury Notes 3.9%** | **United States Treasury Notes 3.9%** |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp;&nbsp;3.875%, due 7/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927417 |
| &nbsp;&nbsp;&nbsp;3.875%, due 7/31/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590490 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **United States Treasury Notes** | **United States Treasury Notes** | **United States Treasury Notes** |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp;&nbsp;4.00%, due 7/31/32 | &nbsp;&nbsp;&nbsp;$9460000 | &nbsp;&nbsp;$9504344 |
| &nbsp;&nbsp;&nbsp;4.25%, due 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7485000 | &nbsp;&nbsp;&nbsp;&nbsp; 7545816 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21568067 |
| Total U.S. Government & Federal Agencies<br> (Cost $24,646,478) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24574854 |
| Total Long-Term Bonds<br> (Cost $540,755,918) |  | &nbsp;&nbsp;&nbsp;&nbsp;545076682 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Short-Term Investments 2.6%** | **Short-Term Investments 2.6%** | **Short-Term Investments 2.6%** |
| **Affiliated Investment Company 1.4%** | **Affiliated Investment Company 1.4%** | **Affiliated Investment Company 1.4%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (l) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7816443 | &nbsp;&nbsp;&nbsp;&nbsp; 7816443 |
| **Unaffiliated Investment Company 1.2%** | **Unaffiliated Investment Company 1.2%** | **Unaffiliated Investment Company 1.2%** |
| Invesco Government & Agency Portfolio, 4.131% (l)(m) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6815561 | &nbsp;&nbsp;&nbsp;&nbsp; 6815561 |
| Total Short-Term Investments<br> (Cost $14,632,004) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14632004 |
| Total Investments<br> (Cost $555,387,922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;559708686 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557847 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$560266533 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
| (b) | Floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (c) | Step coupon—Rate shown was the rate in effect as of September 30, 2025. |
| (d) | Delayed delivery security. |
| (e) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $6,616,695; the total market value of collateral held by the Portfolio was $6,839,134. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $23,573. The Portfolio received cash collateral with a value of $6,815,561. |
| (f) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
| (g) | Fixed to floating rate—Rate shown was the rate in effect as of September 30, 2025. |
| (h) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
| (i) | Collateralized Mortgage Obligation Interest Only Strip—Pays a fixed or variable rate of interest based on mortgage loans or mortgage pass-through securities. The principal amount of the underlying pool represents the notional amount on which the current interest was calculated. The value of these stripped securities may be particularly sensitive to changes in prevailing interest rates and are typically more sensitive to changes in prepayment rates than traditional mortgage-backed securities. |
| (j) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of September 30, 2025. |

---

------

(k) Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was
the rate in effect as of September 30, 2025.

(l) Current yield as of September 30, 2025.

(m) Represents a security purchased with cash collateral received for securities on loan.

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$3039 | &nbsp;&nbsp;$129241 | &nbsp;&nbsp;$(124464) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$7816 | &nbsp;&nbsp;$183 | &nbsp;&nbsp;$— | &nbsp;&nbsp;7816 |

---

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts<sup>1</sup>:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>2</sup>** |
| **Long Contracts** |  |  |  |  |  |
| Long Gilt | &nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $91466145 | &nbsp;&nbsp; $91872378 | &nbsp;&nbsp;&nbsp; $406233 |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 34256314 | &nbsp;&nbsp;&nbsp;&nbsp; 34287328 | &nbsp;&nbsp;&nbsp;&nbsp; 31014 |
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;&nbsp;177 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 19826505 | &nbsp;&nbsp;&nbsp;&nbsp; 19912500 | &nbsp;&nbsp;&nbsp;&nbsp; 85995 |
| U.S. Treasury 10 Year Ultra Bonds | &nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 26161735 | &nbsp;&nbsp;&nbsp;&nbsp; 26352891 | &nbsp;&nbsp;&nbsp;&nbsp; 191156 |
| Total Long Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714398 |
| **Short Contracts** |  |  |  |  |  |
| Canada 5 Year Bonds | &nbsp;&nbsp;(534) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (43725090) | &nbsp;&nbsp;&nbsp;&nbsp; (44248674) | &nbsp;&nbsp;&nbsp;&nbsp; (523584) |
| Euro-OAT | &nbsp;&nbsp;(785) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (110538753) | &nbsp;&nbsp;&nbsp;&nbsp; (111839709) | &nbsp;&nbsp;&nbsp;&nbsp; (1300956) |
| Total Short Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(1824540) |
| Net Unrealized Depreciation |  |  |  |  | &nbsp;&nbsp;$(1110142) |

---

1. As of September 30, 2025, cash in the amount of $6,434,450 was on deposit with a broker or futures commission merchant for futures transactions.

2. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| CLO—Collateralized Loan Obligation |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| OAT—Obligations assimilables du Trésor |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR—Secured Overnight Financing Rate |
| STACR—Structured Agency Credit Risk |
| USISDA—U.S. International Swaps and Derivatives Association |

---

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $80952523 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $80952523 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 220419634 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 220419634 |
| &nbsp;&nbsp;&nbsp;Foreign Government Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33612483 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 33612483 |
| &nbsp;&nbsp;&nbsp;Loan Assignments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18585259 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 18585259 |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 166931929 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 166931929 |
| &nbsp;&nbsp;&nbsp;U.S. Government & Federal Agencies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24574854 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 24574854 |
| Total Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;545076682 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;545076682 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 7816443 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 7816443 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 6815561 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 6815561 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;14632004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14632004 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;14632004 | &nbsp;&nbsp;&nbsp;&nbsp;545076682 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;559708686 |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; 714398 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 714398 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$15346402 | &nbsp;&nbsp;$545076682 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$560423084 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp; $(1824540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $(1824540) |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP Natural Resources Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 98.5%** | **Common Stocks 98.5%** | **Common Stocks 98.5%** |
| **Australia 3.5%** | **Australia 3.5%** | **Australia 3.5%** |
| Rio Tinto plc (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp; 156593 | &nbsp;&nbsp;$10319509 |
| **Canada 21.0%** | **Canada 21.0%** | **Canada 21.0%** |
| Cameco Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp; 36956 | &nbsp;&nbsp;&nbsp;&nbsp; 3099130 |
| Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp; 337654 | &nbsp;&nbsp;&nbsp;&nbsp; 10796582 |
| Capstone Copper Corp. (Metals & Mining) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 690239 | &nbsp;&nbsp;&nbsp;&nbsp; 5862345 |
| Hudbay Minerals, Inc. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp; 220963 | &nbsp;&nbsp;&nbsp;&nbsp; 3349799 |
| Methanex Corp. (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp; 201810 | &nbsp;&nbsp;&nbsp;&nbsp; 8023965 |
| Pan American Silver Corp. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp; 291818 | &nbsp;&nbsp;&nbsp;&nbsp; 11302111 |
| Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp; 270523 | &nbsp;&nbsp;&nbsp;&nbsp; 11310567 |
| Teck Resources Ltd., Class B (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp; 189224 | &nbsp;&nbsp;&nbsp;&nbsp; 8305041 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62049540 |
| **Luxembourg 4.1%** | **Luxembourg 4.1%** | **Luxembourg 4.1%** |
| ArcelorMittal SA (Registered), NYRS (Metals & Mining) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 334270 | &nbsp;&nbsp;&nbsp;&nbsp; 12083861 |
| **Norway 0.5%** | **Norway 0.5%** | **Norway 0.5%** |
| Frontline plc (Oil, Gas & Consumable Fuels) (b) | &nbsp;&nbsp;&nbsp;&nbsp; 70415 | &nbsp;&nbsp;&nbsp;&nbsp; 1604758 |
| **Republic of the Congo 1.0%** | **Republic of the Congo 1.0%** | **Republic of the Congo 1.0%** |
| Ivanhoe Mines Ltd., Class A (Metals & Mining) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3078134 |
| **South Africa 5.2%** | **South Africa 5.2%** | **South Africa 5.2%** |
| Anglo American plc (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9389103 |
| Impala Platinum Holdings Ltd., Sponsored ADR (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3776321 |
| Valterra Platinum Ltd. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2152336 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15317760 |
| **Spain 2.7%** | **Spain 2.7%** | **Spain 2.7%** |
| Repsol SA (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7932135 |
| **United States 60.5%** | **United States 60.5%** | **United States 60.5%** |
| BP plc (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;1361075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7807735 |
| Caterpillar, Inc. (Machinery) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3201199 |
| CF Industries Holdings, Inc. (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3287595 |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7917656 |
| Corteva, Inc. (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7317093 |
| Crescent Energy Co., Class A (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7086949 |
| Crown Holdings, Inc. (Containers & Packaging) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609383 |
| Darling Ingredients, Inc. (Food Products) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8234480 |
| Deere & Co. (Machinery) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3763250 |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11227483 |
| EQT Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488497 |
| Expand Energy Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11046729 |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10050986 |
| Freeport-McMoRan, Inc. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11586804 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **United States** | **United States** | **United States** |
| International Paper Co. (Containers & Packaging) | &nbsp;&nbsp;&nbsp;&nbsp; 266795 | &nbsp;&nbsp;$12379288 |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp; 58518 | &nbsp;&nbsp;&nbsp;&nbsp; 11278759 |
| Mosaic Co. (The) (Chemicals) | &nbsp;&nbsp;&nbsp;&nbsp; 232431 | &nbsp;&nbsp;&nbsp;&nbsp; 8060707 |
| MP Materials Corp. (Metals & Mining) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 19355 | &nbsp;&nbsp;&nbsp;&nbsp; 1298140 |
| Newmont Corp. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp; 133485 | &nbsp;&nbsp;&nbsp;&nbsp; 11254120 |
| Nucor Corp. (Metals & Mining) | &nbsp;&nbsp;&nbsp;&nbsp; 27123 | &nbsp;&nbsp;&nbsp;&nbsp; 3673268 |
| Packaging Corp. of America (Containers & Packaging) | &nbsp;&nbsp;&nbsp;&nbsp; 35698 | &nbsp;&nbsp;&nbsp;&nbsp; 7779665 |
| Permian Resources Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp; 551023 | &nbsp;&nbsp;&nbsp;&nbsp; 7053094 |
| Phillips 66 (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp; 89552 | &nbsp;&nbsp;&nbsp;&nbsp; 12180863 |
| Smurfit WestRock plc (Containers & Packaging) | &nbsp;&nbsp;&nbsp;&nbsp; 118173 | &nbsp;&nbsp;&nbsp;&nbsp; 5030625 |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp;&nbsp;&nbsp; 20620 | &nbsp;&nbsp;&nbsp;&nbsp; 3510761 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;179125129 |
| Total Common Stocks<br> (Cost $272,848,320) |  | &nbsp;&nbsp;&nbsp;&nbsp;291510826 |
| **Short-Term Investments 1.8%** | **Short-Term Investments 1.8%** | **Short-Term Investments 1.8%** |
| **Affiliated Investment Company 1.4%** | **Affiliated Investment Company 1.4%** | **Affiliated Investment Company 1.4%** |
| **United States 1.4%** | **United States 1.4%** | **United States 1.4%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (c) | &nbsp;&nbsp;&nbsp;&nbsp;4162321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4162321 |
| **Unaffiliated Investment Company 0.4%** | **Unaffiliated Investment Company 0.4%** | **Unaffiliated Investment Company 0.4%** |
| **United States 0.4%** | **United States 0.4%** | **United States 0.4%** |
| Invesco Government & Agency Portfolio, 4.131% (c)(d) | &nbsp;&nbsp;&nbsp;&nbsp;1109200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109200 |
| Total Short-Term Investments<br> (Cost $5,271,521) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5271521 |
| Total Investments<br> (Cost $278,119,841) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.3% | &nbsp;&nbsp;&nbsp;&nbsp;296782347 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(827811) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$295954536 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry and country classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $2,642,501; the total market value of collateral held by the Portfolio was $2,847,695. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,738,495. The Portfolio received cash collateral with a value of $1,109,200. |
| (c) | Current yield as of September 30, 2025. |
| (d) | Represents a security purchased with cash collateral received for securities on loan. |

---

------

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$2408 | &nbsp;&nbsp;$50048 | &nbsp;&nbsp;$(48294) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$4162 | &nbsp;&nbsp;$87 | &nbsp;&nbsp;$— | &nbsp;&nbsp;4162 |

---

Abbreviation(s): <br> ADR—American Depositary Receipt

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $10319509 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $10319509 |
| &nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp; 3776321 | &nbsp;&nbsp;&nbsp;&nbsp; 11541439 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 15317760 |
| &nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7932135 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 7932135 |
| &nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp; 171317394 | &nbsp;&nbsp;&nbsp;&nbsp; 7807735 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 179125129 |
| &nbsp;&nbsp;&nbsp;All Other Countries | &nbsp;&nbsp;&nbsp;&nbsp; 78816293 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 78816293 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;253910008 | &nbsp;&nbsp;&nbsp;&nbsp;37600818 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;291510826 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 4162321 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 4162321 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 1109200 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1109200 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5271521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5271521 |
| Total Investments in Securities | &nbsp;&nbsp;$259181529 | &nbsp;&nbsp;$37600818 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$296782347 |

---

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

------

## NYLI VP Moderate Allocation Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Affiliated Investment Companies 90.5%** | **Affiliated Investment Companies 90.5%** | **Affiliated Investment Companies 90.5%** |
| **Equity Funds 60.0%** | **Equity Funds 60.0%** | **Equity Funds 60.0%** |
| NYLI Candriam International Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 524162 | &nbsp;&nbsp;$17839330 |
| NYLI Candriam U.S. Large Cap Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 425051 | &nbsp;&nbsp;&nbsp;&nbsp; 22609653 |
| NYLI Candriam U.S. Mid Cap Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 408918 | &nbsp;&nbsp;&nbsp;&nbsp; 13867554 |
| NYLI Epoch Capital Growth Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp; 149046 | &nbsp;&nbsp;&nbsp;&nbsp; 2472269 |
| NYLI Epoch International Choice Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp; 429028 | &nbsp;&nbsp;&nbsp;&nbsp; 19942761 |
| NYLI Fiera SMID Growth Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 791911 | &nbsp;&nbsp;&nbsp;&nbsp; 13816000 |
| NYLI FTSE International Equity Currency Neutral ETF | &nbsp;&nbsp;&nbsp;&nbsp; 453151 | &nbsp;&nbsp;&nbsp;&nbsp; 14052213 |
| NYLI PineStone U.S. Equity Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1013886 | &nbsp;&nbsp;&nbsp;&nbsp; 21036919 |
| NYLI VP American Century Sustainable Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2031156 | &nbsp;&nbsp;&nbsp;&nbsp; 23060121 |
| NYLI VP Candriam Emerging Markets Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1866635 | &nbsp;&nbsp;&nbsp;&nbsp; 18833976 |
| NYLI VP Dimensional U.S. Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 597714 | &nbsp;&nbsp;&nbsp;&nbsp; 22021878 |
| NYLI VP Epoch U.S. Equity Yield Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 991602 | &nbsp;&nbsp;&nbsp;&nbsp; 20051687 |
| NYLI VP MacKay Convertible Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 837119 | &nbsp;&nbsp;&nbsp;&nbsp; 13989088 |
| NYLI VP MFS<sup>®</sup> Investors Trust Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1185756 | &nbsp;&nbsp;&nbsp;&nbsp; 12886801 |
| NYLI VP MFS<sup>®</sup> Research Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1154421 | &nbsp;&nbsp;&nbsp;&nbsp; 12414297 |
| NYLI VP PineStone International Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1165724 | &nbsp;&nbsp;&nbsp;&nbsp; 14113659 |
| NYLI VP Schroders Mid Cap Opportunities Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14833211 |
| NYLI VP Small Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12572966 |
| NYLI VP Wellington Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24077264 |
| NYLI VP Wellington Small Cap Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11518673 |
| NYLI VP Winslow Large Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22962920 |
| NYLI WMC Enduring Capital Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17387272 |
| NYLI WMC International Research Equity Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20608978 |
| NYLI WMC Value Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18788178 |
| Total Equity Funds<br> (Cost $320,371,964) |  | &nbsp;&nbsp;&nbsp;&nbsp;405757668 |
| **Fixed Income Funds 30.5%** | **Fixed Income Funds 30.5%** | **Fixed Income Funds 30.5%** |
| NYLI Candriam Emerging Markets Debt Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1705288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13769006 |
| NYLI MacKay Core Plus Bond ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4089387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87447043 |
| NYLI MacKay High Income ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10184046 |
| NYLI MacKay Securitized Income ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23420135 |
| NYLI VP Bond Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14512435 |
| NYLI VP Floating Rate Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16897232 |
| NYLI VP MacKay High Yield Corporate Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10178028 |
| NYLI VP MacKay U.S. Infrastructure Bond Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23566848 |
| NYLI VP PIMCO Real Return Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6792471 |
| Total Fixed Income Funds<br> (Cost $205,366,646) |  | &nbsp;&nbsp;&nbsp;&nbsp;206767244 |
| Total Affiliated Investment Companies<br> (Cost $525,738,610) |  | &nbsp;&nbsp;&nbsp;&nbsp;612524912 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investment 9.1%** | **Short-Term Investment 9.1%** | **Short-Term Investment 9.1%** |
| **Affiliated Investment Company 9.1%** | **Affiliated Investment Company 9.1%** | **Affiliated Investment Company 9.1%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;61565988 | &nbsp;&nbsp;$61565988 |
| Total Short-Term Investment<br> (Cost $61,565,988) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61565988 |
| Total Investments<br> (Cost $587,304,598) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.6% | &nbsp;&nbsp;&nbsp;&nbsp;674090900 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577730 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$676668630 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | As of September 30, 2025, the Portfolio's ownership exceeds 5% of the outstanding shares of the Underlying Portfolio's/Fund's share class. |
| (b) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI Candriam Emerging Markets Debt Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$14931 | &nbsp;&nbsp;$(1594) | &nbsp;&nbsp;&nbsp;&nbsp;$6 | &nbsp;&nbsp;$426 | &nbsp;&nbsp;$13769 | &nbsp;&nbsp;$514 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;1705 |
| NYLI Candriam International Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;18174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3786) | &nbsp;&nbsp;&nbsp;&nbsp;1273 | &nbsp;&nbsp;&nbsp;&nbsp;1912 | &nbsp;&nbsp;&nbsp;&nbsp;17839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524 |
| NYLI Candriam U.S. Large Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;27557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7906) | &nbsp;&nbsp;&nbsp;&nbsp;2897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(888) | &nbsp;&nbsp;&nbsp;&nbsp;22610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 |
| NYLI Candriam U.S. Mid Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;14817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp;13868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409 |
| NYLI Epoch Capital Growth Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(270) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 |
| NYLI Epoch International Choice Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;18616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3391) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp;3597 | &nbsp;&nbsp;&nbsp;&nbsp;19943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429 |
| NYLI Fiera SMID Growth Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;14762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;13816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 |
| NYLI FTSE International Equity Currency Neutral ETF | &nbsp;&nbsp;&nbsp;&nbsp;14233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2724) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;1760 | &nbsp;&nbsp;&nbsp;&nbsp;14053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453 |
| NYLI MacKay Core Plus Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;93173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9598) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(638) | &nbsp;&nbsp;&nbsp;&nbsp;3058 | &nbsp;&nbsp;&nbsp;&nbsp;87447 | &nbsp;&nbsp;&nbsp;3221 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;4089 |
| NYLI MacKay High Income ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp;10184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383 |
| NYLI MacKay Securitized Income ETF | &nbsp;&nbsp;&nbsp;&nbsp;25028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2749) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp;&nbsp;&nbsp;23420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895 |
| NYLI MacKay Short Duration High Income Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;19891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;(20281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| NYLI PineStone U.S. Equity Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;26580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7299) | &nbsp;&nbsp;&nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;21037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1014 |
| NYLI Short Term Bond Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7803) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;68173 | &nbsp;&nbsp;&nbsp;&nbsp;95744 | &nbsp;&nbsp;&nbsp;(102351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;61566 | &nbsp;&nbsp;&nbsp;1998 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;61566 |
| NYLI VP American Century Sustainable Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;29182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8450) | &nbsp;&nbsp;&nbsp;(2491) | &nbsp;&nbsp;&nbsp;&nbsp;4438 | &nbsp;&nbsp;&nbsp;&nbsp;23060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2031 |
| NYLI VP Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;15459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2020) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836 | &nbsp;&nbsp;&nbsp;&nbsp;14512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1143 |
| NYLI VP Candriam Emerging Markets Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;18169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72) | &nbsp;&nbsp;&nbsp;&nbsp;4652 | &nbsp;&nbsp;&nbsp;&nbsp;18834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1867 |
| NYLI VP Dimensional U.S. Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;15336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1213) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;2525 | &nbsp;&nbsp;&nbsp;&nbsp;22022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 |
| NYLI VP Epoch U.S. Equity Yield Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;24075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6377) | &nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp;1264 | &nbsp;&nbsp;&nbsp;&nbsp;20052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992 |
| NYLI VP Floating Rate Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;18537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2576) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118) | &nbsp;&nbsp;&nbsp;&nbsp;16897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1999 |
| NYLI VP MacKay Convertible Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;14269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1862) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp;13989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837 |
| NYLI VP MacKay High Yield Corporate Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1040) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421 | &nbsp;&nbsp;&nbsp;&nbsp;10178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1053 |
| NYLI VP MacKay U.S. Infrastructure Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;25121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3634) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;&nbsp;23567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2294 |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI VP MFS<sup>®</sup> Investors Trust Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$11772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(30) | &nbsp;&nbsp;&nbsp;&nbsp;$2 | &nbsp;&nbsp;$1143 | &nbsp;&nbsp;$12887 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;1186 |
| NYLI VP MFS<sup>®</sup> Research Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;11348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;&nbsp;12414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1154 |
| NYLI VP PIMCO Real Return Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823 |
| NYLI VP PineStone International Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;16745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4494) | &nbsp;&nbsp;&nbsp;(2396) | &nbsp;&nbsp;&nbsp;&nbsp;3680 | &nbsp;&nbsp;&nbsp;&nbsp;14114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1166 |
| NYLI VP Schroders Mid Cap Opportunities Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;16979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3467) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(994) | &nbsp;&nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;14833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1580 |
| NYLI VP Small Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;13135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3648) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(867) | &nbsp;&nbsp;&nbsp;&nbsp;1288 | &nbsp;&nbsp;&nbsp;&nbsp;12573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1029 |
| NYLI VP Wellington Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;30199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614 | &nbsp;&nbsp;&nbsp;&nbsp;(11540) | &nbsp;&nbsp;&nbsp;&nbsp;3370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;24077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677 |
| NYLI VP Wellington Small Cap Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;10521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;11519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1125 |
| NYLI VP Winslow Large Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;30378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101 | &nbsp;&nbsp;&nbsp;&nbsp;(11913) | &nbsp;&nbsp;&nbsp;&nbsp;3034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;&nbsp;&nbsp;22963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651 |
| NYLI WMC Enduring Capital Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;11344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1240) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56) | &nbsp;&nbsp;&nbsp;&nbsp;17387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446 |
| NYLI WMC International Research Equity Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;19329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3975) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;4744 | &nbsp;&nbsp;&nbsp;&nbsp;20609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2066 |
| NYLI WMC Value Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;22092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5100) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369 | &nbsp;&nbsp;&nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;&nbsp;18788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 |
|  | &nbsp;&nbsp;$705682 | &nbsp;&nbsp;$172092 | &nbsp;&nbsp;$(257144) | &nbsp;&nbsp;$8517 | &nbsp;&nbsp;$44944 | &nbsp;&nbsp;$674091 | &nbsp;&nbsp;$9744 | &nbsp;&nbsp;$— |  |

---

(a) Prior to February 14, 2025, known as NYLI MacKay ESG High Income ETF.

#### Swap Contracts
Open OTC total return equity swap contracts as of September 30, 2025 were as follows<sup>1</sup>:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Swap<br> Counterparty** | &nbsp;&nbsp;**Reference Obligation** | &nbsp;&nbsp;**Floating Rate<sup>2</sup>** | &nbsp;&nbsp;**Termination<br> Date(s)** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Notional<br> Amount<br> Long/<br> (Short)<br> (000)<sup>3</sup>** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)<sup>4</sup>** |
| Citibank NA | &nbsp;&nbsp;iShares 20+ Year Treasury Bond ETF | &nbsp;&nbsp;1 day FEDF plus 0.42% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;8454 | &nbsp;&nbsp;$— |
| Citibank NA | &nbsp;&nbsp;iShares MSCI EAFE ETF | &nbsp;&nbsp;1 day FEDF minus 0.40% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;(14293) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;1 day FEDF plus 0.45% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;14422 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase Bank NA | &nbsp;&nbsp;J.P. Morgan IDEX Pure Size Short | &nbsp;&nbsp;1 day FEDF plus 0.13% | &nbsp;&nbsp;6/18/26 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;(3259) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase Bank NA | &nbsp;&nbsp;Russell 2000 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.49% | &nbsp;&nbsp;4/8/26 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;3315 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P 500 Communication Services | &nbsp;&nbsp;1 day FEDF plus 0.45% | &nbsp;&nbsp;7/14/26 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P 500 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.95% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;18445 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P Midcap 400 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.85% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;6201 | &nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;$— |

---

1. As of September 30, 2025, cash in the amount $1,100,000 was pledged to brokers for OTC swap contracts.

2. Portfolio pays the floating rate and receives the total return of the reference entity.

3. Notional amounts reflected as a positive value indicate a long position held by the Portfolio or Index and a negative value indicates a short position.

4. Reflects the value at reset date as of September 30, 2025.

---

| |
|:---|
| Abbreviation(s): |
| EAFE—Europe, Australasia and Far East |
| ETF—Exchange-Traded Fund |
| FEDF—Federal Funds Rate |
| FTSE—Financial Times Stock Exchange |

---

------

MSCI—Morgan Stanley Capital International

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Affiliated Investment Companies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Funds | &nbsp;&nbsp; $405757668 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $405757668 |
| &nbsp;&nbsp;&nbsp;Fixed Income Funds | &nbsp;&nbsp;&nbsp;&nbsp; 206767244 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 206767244 |
| Total Affiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;612524912 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;612524912 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 61565988 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 61565988 |
| Total Investments in Securities | &nbsp;&nbsp;$674090900 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$674090900 |

---

(a) For a complete listing of investments, see the Portfolio of Investments.

------

## NYLI VP Growth Allocation Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Affiliated Investment Companies 91.0%** | **Affiliated Investment Companies 91.0%** | **Affiliated Investment Companies 91.0%** |
| **Equity Funds 80.5%** | **Equity Funds 80.5%** | **Equity Funds 80.5%** |
| NYLI Candriam International Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1087660 | &nbsp;&nbsp;$37017420 |
| NYLI Candriam U.S. Large Cap Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 755500 | &nbsp;&nbsp;&nbsp;&nbsp; 40187160 |
| NYLI Candriam U.S. Mid Cap Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1169935 | &nbsp;&nbsp;&nbsp;&nbsp; 39675772 |
| NYLI Epoch Capital Growth Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp; 224607 | &nbsp;&nbsp;&nbsp;&nbsp; 3725622 |
| NYLI Epoch International Choice Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp; 891050 | &nbsp;&nbsp;&nbsp;&nbsp; 41419209 |
| NYLI Fiera SMID Growth Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2278532 | &nbsp;&nbsp;&nbsp;&nbsp; 39752179 |
| NYLI FTSE International Equity Currency Neutral ETF | &nbsp;&nbsp;&nbsp;&nbsp; 677849 | &nbsp;&nbsp;&nbsp;&nbsp; 21020097 |
| NYLI PineStone U.S. Equity Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1920818 | &nbsp;&nbsp;&nbsp;&nbsp; 39854663 |
| NYLI VP American Century Sustainable Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3576591 | &nbsp;&nbsp;&nbsp;&nbsp; 40605759 |
| NYLI VP Candriam Emerging Markets Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3903137 | &nbsp;&nbsp;&nbsp;&nbsp; 39381876 |
| NYLI VP Dimensional U.S. Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 979362 | &nbsp;&nbsp;&nbsp;&nbsp; 36083119 |
| NYLI VP Epoch U.S. Equity Yield Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1997207 | &nbsp;&nbsp;&nbsp;&nbsp; 40386521 |
| NYLI VP MacKay Convertible Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp; 1251976 | &nbsp;&nbsp;&nbsp;&nbsp; 20921770 |
| NYLI VP MFS<sup>®</sup> Investors Trust Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1485601 | &nbsp;&nbsp;&nbsp;&nbsp; 16145511 |
| NYLI VP MFS<sup>®</sup> Research Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1492059 | &nbsp;&nbsp;&nbsp;&nbsp; 16045154 |
| NYLI VP PineStone International Equity Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2421427 | &nbsp;&nbsp;&nbsp;&nbsp; 29316707 |
| NYLI VP Schroders Mid Cap Opportunities Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39148965 |
| NYLI VP Small Cap Growth Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3257327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39787924 |
| NYLI VP Wellington Growth Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40033975 |
| NYLI VP Wellington Small Cap Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3947125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40427248 |
| NYLI VP Winslow Large Cap Growth Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39338788 |
| NYLI WMC Enduring Capital Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33247724 |
| NYLI WMC International Research Equity Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4287505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42778156 |
| NYLI WMC Value Fund Class R6 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40221748 |
| Total Equity Funds<br> (Cost $649,119,703) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816523067 |
| **Fixed Income Funds 10.5%** | **Fixed Income Funds 10.5%** | **Fixed Income Funds 10.5%** |
| NYLI Candriam Emerging Markets Debt Fund Class I (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20593361 |
| NYLI MacKay Core Plus Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11889384 |
| NYLI MacKay High Income ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15231564 |
| NYLI MacKay Securitized Income ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184197 |
| NYLI VP Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973127 |
| NYLI VP Floating Rate Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25271419 |
| NYLI VP MacKay High Yield Corporate Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15221929 |
| NYLI VP MacKay U.S. Infrastructure Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3204191 |
| NYLI VP PIMCO Real Return Portfolio Initial Class (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10158806 |
| Total Fixed Income Funds<br> (Cost $104,659,362) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106727978 |
| Total Affiliated Investment Companies<br> (Cost $753,779,065) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923251045 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investment 8.7%** | **Short-Term Investment 8.7%** | **Short-Term Investment 8.7%** |
| **Affiliated Investment Company 8.7%** | **Affiliated Investment Company 8.7%** | **Affiliated Investment Company 8.7%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;88143754 | &nbsp;&nbsp;$88143754 |
| Total Short-Term Investment<br> (Cost $88,143,754) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88143754 |
| Total Investments<br> (Cost $841,922,819) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.7% | &nbsp;&nbsp;&nbsp;&nbsp;1011394799 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3049758 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1014444557 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | As of September 30, 2025, the Portfolio's ownership exceeds 5% of the outstanding shares of the Underlying Portfolio's/Fund's share class. |
| (b) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI Candriam Emerging Markets Debt Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$23313 | &nbsp;&nbsp;$(3378) | &nbsp;&nbsp;&nbsp;&nbsp;$11 | &nbsp;&nbsp;$647 | &nbsp;&nbsp;$20593 | &nbsp;&nbsp;$770 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;2550 |
| NYLI Candriam International Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8840) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;6130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1088 |
| NYLI Candriam U.S. Large Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(13358) | &nbsp;&nbsp;&nbsp;&nbsp;4461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 |
| NYLI Candriam U.S. Mid Cap Equity ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4685) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp;&nbsp;&nbsp;1098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1170 |
| NYLI Epoch Capital Growth Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 |
| NYLI Epoch International Choice Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7349) | &nbsp;&nbsp;&nbsp;&nbsp;1183 | &nbsp;&nbsp;&nbsp;&nbsp;7519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 |
| NYLI Fiera SMID Growth Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5607) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2279 |
| NYLI FTSE International Equity Currency Neutral ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4728) | &nbsp;&nbsp;&nbsp;&nbsp;1231 | &nbsp;&nbsp;&nbsp;&nbsp;2436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678 |
| NYLI MacKay Core Plus Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556 |
| NYLI MacKay High Income ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1612) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 |
| NYLI MacKay Securitized Income ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 |
| NYLI MacKay Short Duration High Income Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;&nbsp;(30417) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| NYLI PineStone U.S. Equity Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(13061) | &nbsp;&nbsp;&nbsp;&nbsp;2048 | &nbsp;&nbsp;&nbsp;&nbsp;1409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1921 |
| NYLI Short Term Bond Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp;&nbsp;(12295) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96520 | &nbsp;&nbsp;&nbsp;169140 | &nbsp;&nbsp;&nbsp;(177516) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88144 | &nbsp;&nbsp;&nbsp;2919 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;88144 |
| NYLI VP American Century Sustainable Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(14058) | &nbsp;&nbsp;&nbsp;&nbsp;(1026) | &nbsp;&nbsp;&nbsp;&nbsp;4620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3577 |
| NYLI VP Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(399) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 |
| NYLI VP Candriam Emerging Markets Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9725) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(477) | &nbsp;&nbsp;&nbsp;10126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3903 |
| NYLI VP Dimensional U.S. Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(967) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;3928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979 |
| NYLI VP Epoch U.S. Equity Yield Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12414) | &nbsp;&nbsp;&nbsp;&nbsp;2383 | &nbsp;&nbsp;&nbsp;&nbsp;2470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1997 |
| NYLI VP Floating Rate Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(215) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25271 | &nbsp;&nbsp;&nbsp;1387 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2990 |
| NYLI VP MacKay Convertible Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1252 |
| NYLI VP MacKay High Yield Corporate Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2239) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1575 |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI VP MacKay U.S. Infrastructure Bond Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;$3543 | &nbsp;&nbsp;&nbsp;&nbsp;$119 | &nbsp;&nbsp;&nbsp;&nbsp;$(684) | &nbsp;&nbsp;&nbsp;&nbsp;$15 | &nbsp;&nbsp;$211 | &nbsp;&nbsp;&nbsp;&nbsp;$3204 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312 |
| NYLI VP MFS<sup>®</sup> Investors Trust Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1486 |
| NYLI VP MFS<sup>®</sup> Research Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1492 |
| NYLI VP PIMCO Real Return Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1230 |
| NYLI VP PineStone International Equity Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9682) | &nbsp;&nbsp;&nbsp;&nbsp;(3548) | &nbsp;&nbsp;&nbsp;&nbsp;6272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2421 |
| NYLI VP Schroders Mid Cap Opportunities Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5557) | &nbsp;&nbsp;&nbsp;&nbsp;(2487) | &nbsp;&nbsp;&nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;4171 |
| NYLI VP Small Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5251) | &nbsp;&nbsp;&nbsp;&nbsp;(2350) | &nbsp;&nbsp;&nbsp;&nbsp;3537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3257 |
| NYLI VP Wellington Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;(18213) | &nbsp;&nbsp;&nbsp;&nbsp;6486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(309) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1125 |
| NYLI VP Wellington Small Cap Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4052) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3947 |
| NYLI VP Winslow Large Cap Growth Portfolio Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;(18007) | &nbsp;&nbsp;&nbsp;&nbsp;3448 | &nbsp;&nbsp;&nbsp;&nbsp;2386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1116 |
| NYLI WMC Enduring Capital Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23136 | &nbsp;&nbsp;&nbsp;&nbsp;10988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1173) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854 |
| NYLI WMC International Research Equity Fund Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9584) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;10288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;4288 |
| NYLI WMC Value Fund Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(10691) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833 | &nbsp;&nbsp;&nbsp;&nbsp;3035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1155 |
|  | &nbsp;&nbsp;$1078601 | &nbsp;&nbsp;$260687 | &nbsp;&nbsp;$(419835) | &nbsp;&nbsp;$15633 | &nbsp;&nbsp;$76309 | &nbsp;&nbsp;$1011395 | &nbsp;&nbsp;$9384 | &nbsp;&nbsp;$— |  |

---

(a) Prior to February 14, 2025, known as NYLI MacKay ESG High Income ETF.

#### Swap Contracts
Open OTC total return equity swap contracts as of September 30, 2025 were as follows<sup>1</sup>:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Swap<br> Counterparty** | &nbsp;&nbsp;**Reference Obligation** | &nbsp;&nbsp;**Floating Rate<sup>2</sup>** | &nbsp;&nbsp;**Termination<br> Date(s)** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Notional<br> Amount<br> Long/<br> (Short)<br> (000)<sup>3</sup>** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)<sup>4</sup>** |
| Citibank NA | &nbsp;&nbsp;iShares 20+ Year Treasury Bond ETF | &nbsp;&nbsp;1 day FEDF plus 0.42% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;12733 | &nbsp;&nbsp;$— |
| Citibank NA | &nbsp;&nbsp;iShares MSCI EAFE ETF | &nbsp;&nbsp;1 day FEDF minus 0.40% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;(21419) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;iShares MSCI Emerging Markets ex China ETF | &nbsp;&nbsp;1 day FEDF plus 0.45% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;21666 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase Bank NA | &nbsp;&nbsp;J.P. Morgan IDEX Pure Size Short | &nbsp;&nbsp;1 day FEDF minus 0.13% - plus 0.13% | &nbsp;&nbsp;6/18/26 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;(8497) | &nbsp;&nbsp;&nbsp;&nbsp;— |
| JPMorgan Chase Bank NA | &nbsp;&nbsp;Russell 2000 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.49% | &nbsp;&nbsp;4/8/26 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;7415 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P 500 Communication Services | &nbsp;&nbsp;1 day FEDF plus 0.45% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp;8566 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P 500 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.95% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;18415 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| Citibank NA | &nbsp;&nbsp;S&P Midcap 400 Total Return Index | &nbsp;&nbsp;1 day FEDF plus 0.85% | &nbsp;&nbsp;12/1/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;10497 | &nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;$— |

---

1. As of September 30, 2025, cash in the amount $200,000 was pledged to brokers for OTC swap contracts.

2. Portfolio pays the floating rate and receives the total return of the reference entity.

3. Notional amounts reflected as a positive value indicate a long position held by the Portfolio or Index and a negative value indicates a short position.

4. Reflects the value at reset date as of September 30, 2025.

------

---

| |
|:---|
| Abbreviation(s): |
| EAFE—Europe, Australasia and Far East |
| ETF—Exchange-Traded Fund |
| FEDF—Federal Funds Rate |
| FTSE—Financial Times Stock Exchange |
| MSCI—Morgan Stanley Capital International |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Affiliated Investment Companies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Equity Funds | &nbsp;&nbsp; $816523067 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $816523067 |
| &nbsp;&nbsp;&nbsp;Fixed Income Funds | &nbsp;&nbsp;&nbsp;&nbsp; 106727978 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 106727978 |
| Total Affiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923251045 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923251045 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 88143754 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 88143754 |
| Total Investments in Securities | &nbsp;&nbsp;$1011394799 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1011394799 |

---

(a) For a complete listing of investments, see the Portfolio of Investments.

------

## NYLI VP PIMCO Real Return Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Long-Term Bonds 125.5%** | **Long-Term Bonds 125.5%** | **Long-Term Bonds 125.5%** |
| **Asset-Backed Securities 7.4%** | **Asset-Backed Securities 7.4%** | **Asset-Backed Securities 7.4%** |
| **Home Equity Asset-Backed Securities 1.4%** | **Home Equity Asset-Backed Securities 1.4%** | **Home Equity Asset-Backed Securities 1.4%** |
| Argent Securities Trust | Argent Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-W4, Class A2C |  |  |
| &nbsp;&nbsp;&nbsp;4.592% (1 Month SOFR + 0.434%), due 5/25/36 (a) | &nbsp;&nbsp;&nbsp;$269041 | &nbsp;&nbsp;$63787 |
| Credit Suisse First Boston Mortgage Securities Corp. | Credit Suisse First Boston Mortgage Securities Corp. |  |
| &nbsp;&nbsp;&nbsp;Series 2001-HE17, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.168% (1 Month SOFR + 0.734%), due 1/25/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294294 | &nbsp;&nbsp;&nbsp;&nbsp; 289033 |
| Credit-Based Asset Servicing and Securitization LLC | Credit-Based Asset Servicing and Securitization LLC |  |
| &nbsp;&nbsp;&nbsp;Series 2007-CB6, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;4.492% (1 Month SOFR + 0.334%), due 7/25/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448671 |
| CWABS Asset-Backed Certificates Trust | CWABS Asset-Backed Certificates Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2007-8, Class 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.462% (1 Month SOFR + 0.304%), due 11/25/37 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919239 |
| First Franklin Mortgage Loan Trust | First Franklin Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-FF17, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.392% (1 Month SOFR + 0.234%), due 12/25/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306735 |
| GSAA Home Equity Trust | GSAA Home Equity Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-17, Class A3A |  |  |
| &nbsp;&nbsp;&nbsp;4.752% (1 Month SOFR + 0.594%), due 11/25/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287577 |
| Home Equity Asset Trust | Home Equity Asset Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2005-8, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;4.947% (1 Month SOFR + 0.789%), due 2/25/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121342 |
| Lehman XS Trust | Lehman XS Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2007-20N, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;6.572% (1 Month SOFR + 2.414%), due 12/25/37 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18855 |
| Long Beach Mortgage Loan Trust | Long Beach Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-7, Class 2A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.512% (1 Month SOFR + 0.354%), due 8/25/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81200 |
| Mastr Asset-Backed Securities Trust | Mastr Asset-Backed Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-WMC4, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;4.572% (1 Month SOFR + 0.414%), due 10/25/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34192 |
| Morgan Stanley ABS Capital I, Inc. Trust | Morgan Stanley ABS Capital I, Inc. Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2005-WMC1, Class M3 |  |  |
| &nbsp;&nbsp;&nbsp;5.052% (1 Month SOFR + 0.894%), due 1/25/35 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66128 |
| New Century Home Equity Loan Trust | New Century Home Equity Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2004-4, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;5.037% (1 Month SOFR + 0.879%), due 2/25/35 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40139 |
| Option One Mortgage Loan Trust | Option One Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-1, Class M1 |  |  |
| &nbsp;&nbsp;&nbsp;4.812% (1 Month SOFR + 0.654%), due 1/25/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019760 |
| Popular ABS Mortgage Pass-Through Trust | Popular ABS Mortgage Pass-Through Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-A, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;5.142% (1 Month SOFR + 0.984%), due 2/25/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012404 |
| RASC Trust (a) | RASC Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2006-EMX4, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;4.732% (1 Month SOFR + 0.344%), due 6/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297162 |
| &nbsp;&nbsp;&nbsp;Series 2005-EMX1, Class M2 |  |  |
| &nbsp;&nbsp;&nbsp;5.367% (1 Month SOFR + 1.209%), due 3/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440942 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Home Equity Asset-Backed Securities** | **Home Equity Asset-Backed Securities** | **Home Equity Asset-Backed Securities** |
| Saxon Asset Securities Trust | Saxon Asset Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2007-3, Class 1A |  |  |
| &nbsp;&nbsp;&nbsp;4.582% (1 Month SOFR + 0.424%), due 9/25/37 (a) | &nbsp;&nbsp;&nbsp;$57726 | &nbsp;&nbsp;$55740 |
| Securitized Asset-Backed Receivables LLC Trust (a) | Securitized Asset-Backed Receivables LLC Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2006-HE2, Class A2C |  |  |
| &nbsp;&nbsp;&nbsp;4.572% (1 Month SOFR + 0.414%), due 7/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302836 | &nbsp;&nbsp;&nbsp;&nbsp; 118613 |
| &nbsp;&nbsp;&nbsp;Series 2006-HE1, Class A2C |  |  |
| &nbsp;&nbsp;&nbsp;4.592% (1 Month SOFR + 0.434%), due 7/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505853 | &nbsp;&nbsp;&nbsp;&nbsp; 165605 |
| Soundview Home Loan Trust (a) | Soundview Home Loan Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2007-OPT2, Class 2A3 |  |  |
| &nbsp;&nbsp;&nbsp;4.452% (1 Month SOFR + 0.294%), due 7/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111986 |
| &nbsp;&nbsp;&nbsp;Series 2007-OPT1, Class 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.472% (1 Month SOFR + 0.314%), due 6/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154008 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6053118 |
| **Other Asset-Backed Securities 6.0%** | **Other Asset-Backed Securities 6.0%** | **Other Asset-Backed Securities 6.0%** |
| Anchorage Capital CLO 20 Ltd. | Anchorage Capital CLO 20 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2021-20A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.425% (3 Month SOFR + 1.10%), due 1/20/35 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900824 |
| Arbor Realty Commercial Real Estate Notes Ltd. (a)(b) | Arbor Realty Commercial Real Estate Notes Ltd. (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2021-FL4, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.615% (1 Month SOFR + 1.464%), due 11/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306971 |
| &nbsp;&nbsp;&nbsp;Series 2022-FL1, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.822% (SOFR 30A + 1.45%), due 1/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692554 |
| Ares European CLO X DAC | Ares European CLO X DAC |  |
| &nbsp;&nbsp;&nbsp;Series 10A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;2.806% (3 Month EURIBOR + 0.78%), due 10/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR 493,542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579155 |
| Atlas Static Senior Loan Fund I Ltd. | Atlas Static Senior Loan Fund I Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;6.068% (3 Month SOFR + 1.75%), due 7/15/30 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$54609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54607 |
| Bain Capital Credit CLO Ltd. | Bain Capital Credit CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.482% (3 Month SOFR + 1.15%), due 4/22/35 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002962 |
| Bain Capital Euro CLO DAC | Bain Capital Euro CLO DAC |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.095% (3 Month EURIBOR + 1.10%), due 1/24/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR 259,141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304549 |
| Barings Euro CLO DAC | Barings Euro CLO DAC |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.006% (3 Month EURIBOR + 0.98%), due 10/15/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2339105 |
| Black Diamond CLO DAC | Black Diamond CLO DAC |  |
| &nbsp;&nbsp;&nbsp;Series 2017-2A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.884% (3 Month EURIBOR + 0.86%), due 1/20/32 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8435 |
| BlueMountain Fuji EUR CLO V DAC | BlueMountain Fuji EUR CLO V DAC |  |
| &nbsp;&nbsp;&nbsp;Series 5A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;2.936% (3 Month EURIBOR + 0.91%), due 1/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253618 |
| Carlyle Global Market Strategies Euro CLO Ltd. | Carlyle Global Market Strategies Euro CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2014-2A, Class AR1 |  |  |
| &nbsp;&nbsp;&nbsp;2.786% (3 Month EURIBOR + 0.75%), due 11/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371551 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| CarVal CLO III Ltd. | CarVal CLO III Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-2A, Class AR2 |  |  |
| &nbsp;&nbsp;&nbsp;5.315% (3 Month SOFR + 0.99%), due 7/20/32 (a)(b) | &nbsp;&nbsp;&nbsp;$2020335 | &nbsp;&nbsp;$2020990 |
| CIFC European Funding CLO III DAC | CIFC European Funding CLO III DAC |  |
| &nbsp;&nbsp;&nbsp;Series 3A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;3.076% (3 Month EURIBOR + 1.05%), due 1/15/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;EUR 1,200,000 | &nbsp;&nbsp;&nbsp;&nbsp; 1409565 |
| CIFC Funding Ltd. | CIFC Funding Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2017-4A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.53% (3 Month SOFR + 1.212%), due 10/24/30 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$104695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104821 |
| Contego CLO III BV | Contego CLO III BV |  |
| &nbsp;&nbsp;&nbsp;Series 3A, Class ARR |  |  |
| &nbsp;&nbsp;&nbsp;3.297% (3 Month EURIBOR + 1.25%), due 4/15/38 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;EUR 2,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346959 |
| CVC Cordatus Loan Fund XXI DAC | CVC Cordatus Loan Fund XXI DAC |  |
| &nbsp;&nbsp;&nbsp;Series 21A, Class A1E |  |  |
| &nbsp;&nbsp;&nbsp;2.989% (3 Month EURIBOR + 0.96%), due 9/22/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171812 |
| Dryden 52 Euro CLO DAC | Dryden 52 Euro CLO DAC |  |
| &nbsp;&nbsp;&nbsp;Series 2017-52A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;2.896% (3 Month EURIBOR + 0.86%), due 5/15/34 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371954 |
| Gallatin CLO VIII Ltd. | Gallatin CLO VIII Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.669% (3 Month SOFR + 1.352%), due 7/15/31 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$269406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269600 |
| Greywolf CLO III Ltd. | Greywolf CLO III Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2020-3RA, Class A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;5.562% (3 Month SOFR + 1.23%), due 4/22/33 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171139 |
| Invesco Euro CLO I DAC | Invesco Euro CLO I DAC |  |
| &nbsp;&nbsp;&nbsp;Series 1A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;2.676% (3 Month EURIBOR + 0.65%), due 7/15/31 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR 352,130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411962 |
| LCM 30 Ltd. | LCM 30 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 30A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;5.667% (3 Month SOFR + 1.342%), due 4/20/31 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$601327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602229 |
| LCM 35 Ltd. | LCM 35 Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 35A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.398% (3 Month SOFR + 1.08%), due 10/15/34 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000321 |
| LCM Loan Income Fund I Ltd. | LCM Loan Income Fund I Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 1A, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.617% (3 Month SOFR + 1.292%), due 4/20/31 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312875 |
| LoanCore Issuer Ltd. | LoanCore Issuer Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2022-CRE7, Class A |  |  |
| &nbsp;&nbsp;&nbsp;5.931% (SOFR 30A + 1.55%), due 1/17/37 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374402 |
| Madison Park Euro Funding IX DAC | Madison Park Euro Funding IX DAC |  |
| &nbsp;&nbsp;&nbsp;Series 9A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;2.906% (3 Month EURIBOR + 0.88%), due 7/15/35 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR 500,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584632 |
| OCP Euro CLO DAC (a)(b) | OCP Euro CLO DAC (a)(b) |  |
| &nbsp;&nbsp;&nbsp;Series 2020-4A, Class ARR |  |  |
| &nbsp;&nbsp;&nbsp;3.259% (3 Month EURIBOR + 1.23%), due 10/20/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587012 |
| &nbsp;&nbsp;&nbsp;Series 2022-6A, Class ARR |  |  |
| &nbsp;&nbsp;&nbsp;3.264% (3 Month EURIBOR + 1.24%), due 7/20/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703890 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| **Other Asset-Backed Securities** | **Other Asset-Backed Securities** | **Other Asset-Backed Securities** |
| OZLM XXIV Ltd. | OZLM XXIV Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-24A, Class A1AR |  |  |
| &nbsp;&nbsp;&nbsp;5.747% (3 Month SOFR + 1.422%), due 7/20/32 (a)(b) | &nbsp;&nbsp;&nbsp;$107789 | &nbsp;&nbsp;$107779 |
| Palmer Square European Loan Funding DAC | Palmer Square European Loan Funding DAC |  |
| &nbsp;&nbsp;&nbsp;Series 2023-3A, Class AR |  |  |
| &nbsp;&nbsp;&nbsp;3.006% (3 Month EURIBOR + 0.97%), due 5/15/33 (a) | &nbsp;&nbsp;&nbsp;&nbsp;EUR 300,667 | &nbsp;&nbsp;&nbsp;&nbsp; 353141 |
| Romark CLO Ltd. | Romark CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.611% (3 Month SOFR + 1.292%), due 10/23/30 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$66050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66068 |
| Saranac CLO VI Ltd. | Saranac CLO VI Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2018-6A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.439% (3 Month SOFR + 1.402%), due 8/13/31 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64662 |
| SLM Student Loan Trust | SLM Student Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2004-3A, Class A6B |  |  |
| &nbsp;&nbsp;&nbsp;5.152% (SOFR 90A + 0.812%), due 10/25/64 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201941 |
| Sound Point CLO IX Ltd. | Sound Point CLO IX Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2015-2A, Class ARRR |  |  |
| &nbsp;&nbsp;&nbsp;5.797% (3 Month SOFR + 1.472%), due 7/20/32 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381795 |
| St Pauls CLO II DAC | St Pauls CLO II DAC |  |
| &nbsp;&nbsp;&nbsp;Series 2A, Class AR4 |  |  |
| &nbsp;&nbsp;&nbsp;2.919% (3 Month EURIBOR + 0.98%), due 10/25/35 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR 500,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585387 |
| Venture 36 CLO Ltd. | Venture 36 CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-36A, Class A1AR |  |  |
| &nbsp;&nbsp;&nbsp;5.717% (3 Month SOFR + 1.392%), due 4/20/32 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$359969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360096 |
| Vibrant CLO XI Ltd. | Vibrant CLO XI Ltd. |  |
| &nbsp;&nbsp;&nbsp;Series 2019-11A, Class A1R1 |  |  |
| &nbsp;&nbsp;&nbsp;5.707% (3 Month SOFR + 1.382%), due 7/20/32 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191340 |
| VOYA CLO | VOYA CLO |  |
| &nbsp;&nbsp;&nbsp;Series 2017-2A, Class A1R |  |  |
| &nbsp;&nbsp;&nbsp;5.559% (3 Month SOFR + 1.242%), due 6/7/30 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18367 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24589070 |
| Total Asset-Backed Securities<br> (Cost $30,784,675) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30642188 |
| **Corporate Bonds 0.8%** | **Corporate Bonds 0.8%** | **Corporate Bonds 0.8%** |
| **Banks 0.1%** | **Banks 0.1%** | **Banks 0.1%** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series FF |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, due 3/15/28 (c)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191949 |
| Nykredit Realkredit A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DKK 32,432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3998 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, due 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39317 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10706 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Banks** | **Banks** | **Banks** |
| Nykredit Realkredit A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/1/47 | DKK 1,495 | &nbsp;&nbsp;$222 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, due 3/1/29 (c) | &nbsp;&nbsp;&nbsp;&nbsp;EUR 100,000 | &nbsp;&nbsp;&nbsp;&nbsp; 130883 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377075 |
| **Diversified Financial Services 0.2%** | **Diversified Financial Services 0.2%** | **Diversified Financial Services 0.2%** |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;2.528%, due 11/18/27 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27882 |
| Jyske Realkredit A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series CCE |  |  |
| &nbsp;&nbsp;&nbsp;0.50%, due 10/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DKK 17,787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2314 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182904 |
| &nbsp;&nbsp;&nbsp;Series CCE |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243721 |
| &nbsp;&nbsp;&nbsp;Series 111E |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574 |
| Nordea Kredit Realkreditaktieselskab |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10545 |
| &nbsp;&nbsp;&nbsp;1.50%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65645 |
| &nbsp;&nbsp;&nbsp;1.50%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 |
| &nbsp;&nbsp;&nbsp;1.50%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53758 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52592 |
| &nbsp;&nbsp;&nbsp;2.50%, due 10/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 |
| Realkredit Danmark A/S |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96477 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, due 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42973 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, due 4/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783188 |
| **Internet 0.5%** | **Internet 0.5%** | **Internet 0.5%** |
| Beignet Investor LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.581%, due 5/30/49 (b) | &nbsp;&nbsp;&nbsp;&nbsp;$2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100000 |
| Total Corporate Bonds<br> (Cost $3,421,130) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3260263 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Foreign Government Bonds 4.3%** | **Foreign Government Bonds 4.3%** | **Foreign Government Bonds 4.3%** |
| **Canada 0.2%** | **Canada 0.2%** | **Canada 0.2%** |
| Canadian Government Real Return Bond |  |  |
| &nbsp;&nbsp;&nbsp;4.25%, due 12/1/26 (e) | CAD 1,126,548 | &nbsp;&nbsp;$843660 |
| **France 1.3%** | **France 1.3%** | **France 1.3%** |
| France Government Bond (b)(e) |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;0.10%, due 3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;EUR 3,788,820 | &nbsp;&nbsp;&nbsp;&nbsp; 4431325 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;0.10%, due 7/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 856870 | &nbsp;&nbsp;&nbsp;&nbsp; 953878 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5385203 |
| **Italy 0.6%** | **Italy 0.6%** | **Italy 0.6%** |
| Italy Buoni Poliennali del Tesoro (e) |  |  |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;0.40%, due 5/15/30 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843670 |
| &nbsp;&nbsp;&nbsp;Series Reg S |  |  |
| &nbsp;&nbsp;&nbsp;1.80%, due 5/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570868 |
| **Japan 2.0%** | **Japan 2.0%** | **Japan 2.0%** |
| Japan Government CPI Linked Bond (e) |  |  |
| &nbsp;&nbsp;&nbsp;0.10%, due 3/10/28 | &nbsp;&nbsp;&nbsp;&nbsp;JPY 487,952,340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3350247 |
| &nbsp;&nbsp;&nbsp;0.10%, due 3/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704948640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4856759 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8207006 |
| **Mexico 0.0% ‡** | **Mexico 0.0% ‡** | **Mexico 0.0% ‡** |
| Mexican Udibonos |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/24/34 (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MXN 145,395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7569 |
| **Peru 0.2%** | **Peru 0.2%** | **Peru 0.2%** |
| Peru Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;5.94%, due 2/12/29 | &nbsp;&nbsp;&nbsp;&nbsp;PEN 1,000,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301989 |
| &nbsp;&nbsp;&nbsp;6.15%, due 8/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576773 |
| Total Foreign Government Bonds<br> (Cost $18,812,367) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17591079 |
| **Mortgage-Backed Securities 5.8%** | **Mortgage-Backed Securities 5.8%** | **Mortgage-Backed Securities 5.8%** |
| **Agency (Collateralized Mortgage Obligations) 5.2%** | **Agency (Collateralized Mortgage Obligations) 5.2%** | **Agency (Collateralized Mortgage Obligations) 5.2%** |
| FHLMC (a) | FHLMC (a) |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4779, Class WF |  |  |
| &nbsp;&nbsp;&nbsp;4.81% (SOFR 30A + 0.464%), due 7/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$82095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80723 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4694, Class FA |  |  |
| &nbsp;&nbsp;&nbsp;4.887% (SOFR 30A + 0.514%), due 6/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673057 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 4851, Class PF |  |  |
| &nbsp;&nbsp;&nbsp;4.887% (SOFR 30A + 0.514%), due 8/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941807 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** | **Agency (Collateralized Mortgage Obligations)** |
| FHLMC (a) | FHLMC (a) |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 5513, Class MF |  |  |
| &nbsp;&nbsp;&nbsp;5.296% (SOFR 30A + 0.94%), due 11/25/54 | &nbsp;&nbsp;&nbsp;$1912436 | &nbsp;&nbsp;$1914992 |
| FHLMC, Strips | FHLMC, Strips |  |
| &nbsp;&nbsp;&nbsp;Series 278, Class F1 |  |  |
| &nbsp;&nbsp;&nbsp;4.937% (SOFR 30A + 0.564%), due 9/15/42 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115539 | &nbsp;&nbsp;&nbsp;&nbsp; 113763 |
| FNMA (a) | FNMA (a) |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-47, Class FJ |  |  |
| &nbsp;&nbsp;&nbsp;5.386% (SOFR 30A + 1.03%), due 6/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952057 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-19, Class FC |  |  |
| &nbsp;&nbsp;&nbsp;5.516% (SOFR 30A + 1.16%), due 3/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857020 |
| GNMA (a) | GNMA (a) |  |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-H22, Class F |  |  |
| &nbsp;&nbsp;&nbsp;4.922% (SOFR 30A + 0.78%), due 10/20/75 (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200000 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2018-H15, Class FG |  |  |
| &nbsp;&nbsp;&nbsp;4.927% (12 Month SOFR + 0.865%), due 8/20/68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286093 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-H20, Class FA |  |  |
| &nbsp;&nbsp;&nbsp;5.289% (SOFR 30A + 0.90%), due 7/20/73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4809935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4832142 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2023-H11, Class FC |  |  |
| &nbsp;&nbsp;&nbsp;5.489% (SOFR 30A + 1.10%), due 5/20/73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485748 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2025-159, Class FJ |  |  |
| &nbsp;&nbsp;&nbsp;5.51% (SOFR 30A + 1.17%), due 9/20/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4103242 |
| &nbsp;&nbsp;&nbsp;REMIC, Series 2017-H10, Class FB |  |  |
| &nbsp;&nbsp;&nbsp;5.592% (12 Month SOFR + 1.465%), due 4/20/67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100746 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21541390 |
| **Whole Loan (Collateralized Mortgage Obligations) 0.6%** | **Whole Loan (Collateralized Mortgage Obligations) 0.6%** | **Whole Loan (Collateralized Mortgage Obligations) 0.6%** |
| Alternative Loan Trust | Alternative Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2005-29CB, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, due 7/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11646 |
| &nbsp;&nbsp;&nbsp;Series 2007-1T1, Class 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 3/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172337 |
| CHL Mortgage Pass-Through Trust | CHL Mortgage Pass-Through Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2007-1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 3/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10700 |
| Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2007-AR4, Class 1A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.629%, due 3/25/37 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116973 |
| Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |  |
| &nbsp;&nbsp;&nbsp;Series 2004-NCM2, Class 1CB1 |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, due 8/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90760 |
| Eurosail-UK plc (a) | Eurosail-UK plc (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2007-3A, Class A3C |  |  |
| &nbsp;&nbsp;&nbsp;5.044% (SONIA3M IR + 1.069%), due 6/13/45 (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GBP 7,970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10708 |
| &nbsp;&nbsp;&nbsp;Series Reg S, Class A3A |  |  |
| &nbsp;&nbsp;&nbsp;5.044% (SONIA3M IR + 1.069%), due 6/13/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40171 |
| &nbsp;&nbsp;&nbsp;Series Reg S, Class A3C |  |  |
| &nbsp;&nbsp;&nbsp;5.044% (SONIA3M IR + 1.069%), due 6/13/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10708 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mortgage-Backed Securities** | **Mortgage-Backed Securities** | **Mortgage-Backed Securities** |
| **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** | **Whole Loan (Collateralized Mortgage Obligations)** |
| GreenPoint Mortgage Funding Trust | GreenPoint Mortgage Funding Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-AR4, Class A6A |  |  |
| &nbsp;&nbsp;&nbsp;4.632% (1 Month SOFR + 0.474%), due 9/25/46 (a) | &nbsp;&nbsp;&nbsp;$48497 | &nbsp;&nbsp;$45141 |
| IndyMac INDX Mortgage Loan Trust (a) | IndyMac INDX Mortgage Loan Trust (a) |  |
| &nbsp;&nbsp;&nbsp;Series 2005-AR12, Class 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.752% (1 Month SOFR + 0.594%), due 7/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70982 | &nbsp;&nbsp;&nbsp;&nbsp; 65687 |
| &nbsp;&nbsp;&nbsp;Series 2005-AR14, Class 1A1A |  |  |
| &nbsp;&nbsp;&nbsp;4.832% (1 Month SOFR + 0.674%), due 7/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587322 | &nbsp;&nbsp;&nbsp;&nbsp; 429219 |
| Merrill Lynch Mortgage Investors Trust | Merrill Lynch Mortgage Investors Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2005-A4, Class 1A |  |  |
| &nbsp;&nbsp;&nbsp;5.356%, due 7/25/35 (g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53018 |
| New Residential Mortgage Loan Trust (b)(h) | New Residential Mortgage Loan Trust (b)(h) |  |
| &nbsp;&nbsp;&nbsp;Series 2019-RPL3, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;2.75%, due 7/25/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112165 |
| &nbsp;&nbsp;&nbsp;Series 2018-3A, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, due 5/25/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73995 |
| OBX Trust | OBX Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;4.922% (1 Month SOFR + 0.764%), due 6/25/57 (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13832 |
| Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates | Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates |  |
| &nbsp;&nbsp;&nbsp;Series 2005-2, Class M7 |  |  |
| &nbsp;&nbsp;&nbsp;6.072% (1 Month SOFR + 1.914%), due 4/25/35 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99063 |
| RALI Trust | RALI Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-QH1, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.652% (1 Month SOFR + 0.494%), due 12/25/36 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502528 |
| Residential Asset Securitization Trust | Residential Asset Securitization Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2006-A10, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, due 9/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64690 |
| Thornburg Mortgage Securities Trust | Thornburg Mortgage Securities Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2004-2, Class A1 |  |  |
| &nbsp;&nbsp;&nbsp;4.892% (1 Month SOFR + 0.734%), due 6/25/44 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194980 |
| Washington Mutual Mortgage Pass-Through Certificates WMALT Trust | Washington Mutual Mortgage Pass-Through Certificates WMALT Trust |  |
| &nbsp;&nbsp;&nbsp;Series 2007-HY1, Class A2A |  |  |
| &nbsp;&nbsp;&nbsp;4.592% (1 Month SOFR + 0.434%), due 2/25/37 (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229669 |
| &nbsp;&nbsp;&nbsp;Series 2006-5, Class 2CB1 |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, due 7/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19983 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367973 |
| Total Mortgage-Backed Securities<br> (Cost $24,448,903) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23909363 |
| **U.S. Government & Federal Agencies 107.2%** | **U.S. Government & Federal Agencies 107.2%** | **U.S. Government & Federal Agencies 107.2%** |
| **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.1%** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.1%** | **Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.1%** |
| UMBS Pool, 30 Year | UMBS Pool, 30 Year | UMBS Pool, 30 Year |
| &nbsp;&nbsp;&nbsp;2.00%, due 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132155 |
| &nbsp;&nbsp;&nbsp;3.00%, due 1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327008 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459163 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **Federal National Mortgage Association (Mortgage Pass-Through Securities) 10.1%** | **Federal National Mortgage Association (Mortgage Pass-Through Securities) 10.1%** | **Federal National Mortgage Association (Mortgage Pass-Through Securities) 10.1%** |
| FNMA (a) | FNMA (a) | FNMA (a) |
| &nbsp;&nbsp;&nbsp;4.905% (11th District Cost of Funds Index + 1.934%), due 12/1/36 | &nbsp;&nbsp;&nbsp;$20662 | &nbsp;&nbsp;$20486 |
| &nbsp;&nbsp;&nbsp;5.352% (12 Month Monthly Treasury Average Index + 1.199%), due 6/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63155 | &nbsp;&nbsp;&nbsp;&nbsp; 63706 |
| &nbsp;&nbsp;&nbsp;6.492% (1 Year Treasury Constant Maturity Rate + 2.36%), due 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79188 | &nbsp;&nbsp;&nbsp;&nbsp; 82354 |
| UMBS, 30 Year | UMBS, 30 Year | UMBS, 30 Year |
| &nbsp;&nbsp;&nbsp;4.00%, due 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 392926 | &nbsp;&nbsp;&nbsp;&nbsp; 371362 |
| &nbsp;&nbsp;&nbsp;4.50%, due 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 484337 | &nbsp;&nbsp;&nbsp;&nbsp; 472066 |
| &nbsp;&nbsp;&nbsp;4.50%, due 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 430609 | &nbsp;&nbsp;&nbsp;&nbsp; 419432 |
| UMBS, Single Family, 30 Year TBA (i) | UMBS, Single Family, 30 Year TBA (i) | UMBS, Single Family, 30 Year TBA (i) |
| &nbsp;&nbsp;&nbsp;4.50%, due 11/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24431558 |
| &nbsp;&nbsp;&nbsp;6.00%, due 11/25/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15627303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41488267 |
| **Government National Mortgage Association (Mortgage Pass-Through Securities) 3.1%** | **Government National Mortgage Association (Mortgage Pass-Through Securities) 3.1%** | **Government National Mortgage Association (Mortgage Pass-Through Securities) 3.1%** |
| GNMA II, 30 Year | GNMA II, 30 Year | GNMA II, 30 Year |
| &nbsp;&nbsp;&nbsp;3.50%, due 8/20/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181909 |
| GNMA II, Single Family, 30 Year | GNMA II, Single Family, 30 Year | GNMA II, Single Family, 30 Year |
| &nbsp;&nbsp;&nbsp;3.50%, due 3/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35163 |
| &nbsp;&nbsp;&nbsp;3.50%, due 5/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19755 |
| &nbsp;&nbsp;&nbsp;3.50%, due 6/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429976 |
| &nbsp;&nbsp;&nbsp;3.50%, due 10/15/55 TBA (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11851009 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12517812 |
| **United States Treasury Inflation - Indexed Bonds and Notes 93.9%** | **United States Treasury Inflation - Indexed Bonds and Notes 93.9%** | **United States Treasury Inflation - Indexed Bonds and Notes 93.9%** |
| U.S. Treasury Inflation Linked Bonds (e) | U.S. Treasury Inflation Linked Bonds (e) | U.S. Treasury Inflation Linked Bonds (e) |
| &nbsp;&nbsp;&nbsp;0.125%, due 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4479324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481925 |
| &nbsp;&nbsp;&nbsp;0.125%, due 2/15/52 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130977 |
| &nbsp;&nbsp;&nbsp;0.25%, due 2/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3744459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2212685 |
| &nbsp;&nbsp;&nbsp;0.625%, due 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1898182 |
| &nbsp;&nbsp;&nbsp;0.75%, due 2/15/42 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6905306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5472209 |
| &nbsp;&nbsp;&nbsp;0.75%, due 2/15/45 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8834778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6582998 |
| &nbsp;&nbsp;&nbsp;0.875%, due 2/15/47 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9693090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7152490 |
| &nbsp;&nbsp;&nbsp;1.00%, due 2/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7075994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5452592 |
| &nbsp;&nbsp;&nbsp;1.00%, due 2/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4988594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3735449 |
| &nbsp;&nbsp;&nbsp;1.00%, due 2/15/49 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615256 |
| &nbsp;&nbsp;&nbsp;1.375%, due 2/15/44 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8302859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7095941 |
| &nbsp;&nbsp;&nbsp;1.50%, due 2/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5433850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4346975 |
| &nbsp;&nbsp;&nbsp;1.75%, due 1/15/28 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15765612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16023097 |
| &nbsp;&nbsp;&nbsp;2.125%, due 2/15/40 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7263902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7316451 |
| &nbsp;&nbsp;&nbsp;2.125%, due 2/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3289629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3285105 |
| &nbsp;&nbsp;&nbsp;2.125%, due 2/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4274074 |
| &nbsp;&nbsp;&nbsp;2.375%, due 1/15/27 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32602 |
| &nbsp;&nbsp;&nbsp;2.375%, due 2/15/55 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2968904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2898161 |
| &nbsp;&nbsp;&nbsp;2.50%, due 1/15/29 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6214205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6492772 |
| &nbsp;&nbsp;&nbsp;3.375%, due 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665961 |
| U.S. Treasury Inflation Linked Notes (e) | U.S. Treasury Inflation Linked Notes (e) | U.S. Treasury Inflation Linked Notes (e) |
| &nbsp;&nbsp;&nbsp;0.125%, due 7/15/26 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6752027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6728423 |
| &nbsp;&nbsp;&nbsp;0.125%, due 10/15/26 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29555250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29391613 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** | **U.S. Government & Federal Agencies** |
| **United States Treasury Inflation - Indexed Bonds and Notes** | **United States Treasury Inflation - Indexed Bonds and Notes** | **United States Treasury Inflation - Indexed Bonds and Notes** |
| U.S. Treasury Inflation Linked Notes (e) | U.S. Treasury Inflation Linked Notes (e) | U.S. Treasury Inflation Linked Notes (e) |
| &nbsp;&nbsp;&nbsp;0.125%, due 4/15/27 (k) | &nbsp;&nbsp;&nbsp;$13272140 | &nbsp;&nbsp;$13088259 |
| &nbsp;&nbsp;&nbsp;0.125%, due 1/15/30 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18834150 | &nbsp;&nbsp;&nbsp;&nbsp; 17979269 |
| &nbsp;&nbsp;&nbsp;0.125%, due 7/15/30 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8215070 | &nbsp;&nbsp;&nbsp;&nbsp; 7810253 |
| &nbsp;&nbsp;&nbsp;0.125%, due 1/15/31 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8860597 | &nbsp;&nbsp;&nbsp;&nbsp; 8319476 |
| &nbsp;&nbsp;&nbsp;0.125%, due 7/15/31 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13017348 | &nbsp;&nbsp;&nbsp;&nbsp; 12155320 |
| &nbsp;&nbsp;&nbsp;0.125%, due 1/15/32 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13751602 | &nbsp;&nbsp;&nbsp;&nbsp; 12661126 |
| &nbsp;&nbsp;&nbsp;0.25%, due 7/15/29 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10280169 | &nbsp;&nbsp;&nbsp;&nbsp; 9971601 |
| &nbsp;&nbsp;&nbsp;0.625%, due 7/15/32 (f)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40916448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38722589 |
| &nbsp;&nbsp;&nbsp;0.75%, due 7/15/28 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13912038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13847708 |
| &nbsp;&nbsp;&nbsp;0.875%, due 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4855285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4818074 |
| &nbsp;&nbsp;&nbsp;1.125%, due 1/15/33 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12797100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12402324 |
| &nbsp;&nbsp;&nbsp;1.25%, due 4/15/28 (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2046319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054132 |
| &nbsp;&nbsp;&nbsp;1.375%, due 7/15/33 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20316288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20002161 |
| &nbsp;&nbsp;&nbsp;1.625%, due 10/15/27 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11014454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11190987 |
| &nbsp;&nbsp;&nbsp;1.625%, due 10/15/29 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10985369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11202655 |
| &nbsp;&nbsp;&nbsp;1.625%, due 4/15/30 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5784474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5873064 |
| &nbsp;&nbsp;&nbsp;1.75%, due 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5149606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5173583 |
| &nbsp;&nbsp;&nbsp;1.875%, due 7/15/34 (f)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18531540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18800466 |
| &nbsp;&nbsp;&nbsp;1.875%, due 7/15/35 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3420638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3448332 |
| &nbsp;&nbsp;&nbsp;2.125%, due 4/15/29 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6266520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6468205 |
| &nbsp;&nbsp;&nbsp;2.125%, due 1/15/35 (f)(k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10236400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10537823 |
| &nbsp;&nbsp;&nbsp;2.375%, due 10/15/28 (k) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14449390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15050212 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;386863557 |
| Total U.S. Government & Federal Agencies<br> (Cost $469,209,884) |  | &nbsp;&nbsp;&nbsp;&nbsp;441328799 |
| Total Long-Term Bonds<br> (Cost $546,676,959) |  | &nbsp;&nbsp;&nbsp;&nbsp;516731692 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** |  |
| **Short-Term Investment 0.2%** | **Short-Term Investment 0.2%** | **Short-Term Investment 0.2%** |
| **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (l) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806431 |
| Total Short-Term Investment<br> (Cost $806,431) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806431 |
| Total Investments<br> (Cost $547,483,390) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125.7% | &nbsp;&nbsp;&nbsp;&nbsp;517538123 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25.7) | &nbsp;&nbsp;&nbsp;&nbsp;(105701279) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$411836844 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |

---

------

(a) Floating rate—Rate shown was the rate in effect as of September 30, 2025.

(b) May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.

(c) Fixed to floating rate—Rate shown was the rate in effect as of September 30, 2025.

(d) Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

(e) Treasury Inflation Protected Security—Pays a fixed rate of interest on a principal amount that is continuously adjusted for inflation based on the Consumer Price Index-Urban Consumers.

(f) Delayed delivery security.

(g) Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was
the rate in effect as of September 30, 2025.

(h) Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of September 30, 2025.

(i) TBA—Security purchased on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount and maturity date will be determined upon settlement. As of
September 30, 2025, the total net market value was $51,909,870, which represented 12.6% of the Portfolio's net assets.

(j) Security, or a portion thereof, was maintained in a segregated account at the Portfolio's custodian as collateral for future, swap and foreign currency forward contracts.

(k) All or a portion of the security is held as a Sale-Buyback position.

(l) Current yield as of September 30, 2025.

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$1062 | &nbsp;&nbsp;$49009 | &nbsp;&nbsp;$(49265) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$806 | &nbsp;&nbsp;$35 | &nbsp;&nbsp;$— | &nbsp;&nbsp;806 |

---

------

#### Foreign Currency Forward Contracts
As of September 30, 2025, the Portfolio held the following foreign currency forward contracts<sup>1</sup><sup>,2</sup>:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| BRL | &nbsp;&nbsp;18885485 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3410779 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | $137623 |
| BRL | &nbsp;&nbsp;20657780 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3823178 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; 25468 |
| BRL | &nbsp;&nbsp;821910 | &nbsp;&nbsp;USD | &nbsp;&nbsp;150000 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4429 |
| BRL | &nbsp;&nbsp;820260 | &nbsp;&nbsp;USD | &nbsp;&nbsp;150000 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4119 |
| CHF | &nbsp;&nbsp;756036 | &nbsp;&nbsp;USD | &nbsp;&nbsp;942782 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6953 |
| CHF | &nbsp;&nbsp;600110 | &nbsp;&nbsp;USD | &nbsp;&nbsp;754821 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2208 |
| GBP | &nbsp;&nbsp;554000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;744892 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 182 |
| GBP | &nbsp;&nbsp;571910 | &nbsp;&nbsp;USD | &nbsp;&nbsp;769238 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; 58 |
| IDR | &nbsp;&nbsp;4142281768 | &nbsp;&nbsp;USD | &nbsp;&nbsp;246209 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2162 |
| IDR | &nbsp;&nbsp;8164564410 | &nbsp;&nbsp;USD | &nbsp;&nbsp;489189 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/8/25 | &nbsp;&nbsp;&nbsp;&nbsp; 709 |
| ILS | &nbsp;&nbsp;404000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;120355 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1616 |
| ILS | &nbsp;&nbsp;101000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;30152 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 |
| ILS | &nbsp;&nbsp;373000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;110891 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721 |
| ILS | &nbsp;&nbsp;639000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;190190 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2741 |
| ILS | &nbsp;&nbsp;234000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;69966 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 |
| ILS | &nbsp;&nbsp;100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;29994 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199 |
| JPY | &nbsp;&nbsp;371591618 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2489059 | &nbsp;&nbsp;Morgan Stanley & Co. International | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23648 |
| KRW | &nbsp;&nbsp;412888200 | &nbsp;&nbsp;USD | &nbsp;&nbsp;292495 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082 |
| MXN | &nbsp;&nbsp;9829000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;507778 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24519 |
| MXN | &nbsp;&nbsp;2361000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;127417 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 |
| MXN | &nbsp;&nbsp;1878383 | &nbsp;&nbsp;USD | &nbsp;&nbsp;100837 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889 |
| PLN | &nbsp;&nbsp;337348 | &nbsp;&nbsp;USD | &nbsp;&nbsp;92262 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 |
| PLN | &nbsp;&nbsp;1568851 | &nbsp;&nbsp;USD | &nbsp;&nbsp;430322 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191 |
| PLN | &nbsp;&nbsp;223431 | &nbsp;&nbsp;USD | &nbsp;&nbsp;60800 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 |
| SEK | &nbsp;&nbsp;2860000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;302483 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307 |
| TWD | &nbsp;&nbsp;5822011 | &nbsp;&nbsp;USD | &nbsp;&nbsp;191074 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
| USD | &nbsp;&nbsp;3311316 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;4576021 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23237 |
| USD | &nbsp;&nbsp;5103 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;7000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 |
| USD | &nbsp;&nbsp;2445934 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;17370000 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521 |
| USD | &nbsp;&nbsp;139752 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;118000 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214 |
| USD | &nbsp;&nbsp;351178 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;299000 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 |
| USD | &nbsp;&nbsp;395839 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;293090 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662 |
| USD | &nbsp;&nbsp;248633 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;4082125000 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705 |
| USD | &nbsp;&nbsp;174786 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;2880799256 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929 |
| USD | &nbsp;&nbsp;57178 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;942693686 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614 |
| USD | &nbsp;&nbsp;268036 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;4417233280 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989 |
| USD | &nbsp;&nbsp;249554 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;4096900000 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3740 |
| USD | &nbsp;&nbsp;130000 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;2142041759 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484 |
| USD | &nbsp;&nbsp;70000 | &nbsp;&nbsp;INR | &nbsp;&nbsp;6175330 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 |
| USD | &nbsp;&nbsp;120000 | &nbsp;&nbsp;INR | &nbsp;&nbsp;10557336 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220 |
| USD | &nbsp;&nbsp;3563668 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;522863863 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28057 |
| USD | &nbsp;&nbsp;1930393 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;283345014 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14411 |
| USD | &nbsp;&nbsp;602679 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;88522276 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4090 |
| USD | &nbsp;&nbsp;115 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;16993 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— ‡ |
| USD | &nbsp;&nbsp;2300848 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;339510369 | &nbsp;&nbsp;Morgan Stanley & Co. International | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5075 |
| USD | &nbsp;&nbsp;1182218 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;1638956629 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12897 |
| USD | &nbsp;&nbsp;258634 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;360880000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323 |
| USD | &nbsp;&nbsp;702787 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;903391 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2457 |
| USD | &nbsp;&nbsp;740125 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;952000 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2111 |
| USD | &nbsp;&nbsp;40586 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;52000 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 |
| USD | &nbsp;&nbsp;99401 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;127000 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948 |
| USD | &nbsp;&nbsp;1689339 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2164575 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11309 |
| USD | &nbsp;&nbsp;371566 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;476000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559 |
| USD | &nbsp;&nbsp;202703 | &nbsp;&nbsp;THB | &nbsp;&nbsp;6557390 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 |
| USD | &nbsp;&nbsp;608770 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;18104820 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13857 |
| USD | &nbsp;&nbsp;2236210 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;66688248 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44875 |
| USD | &nbsp;&nbsp;39008 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;1162477 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| USD | &nbsp;&nbsp;121702 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;3652408 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;12/15/25 | &nbsp;&nbsp;&nbsp; $1199 |
| USD | &nbsp;&nbsp;191074 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;5765644 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp; 357 |
| USD | &nbsp;&nbsp;348727 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;10438097 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4345 |
| USD | &nbsp;&nbsp;420000 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;12597732 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6046 |
| ZAR | &nbsp;&nbsp;3903048 | &nbsp;&nbsp;USD | &nbsp;&nbsp;221092 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4615 |
| ZAR | &nbsp;&nbsp;3419135 | &nbsp;&nbsp;USD | &nbsp;&nbsp;194010 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3713 |
| ZAR | &nbsp;&nbsp;1650821 | &nbsp;&nbsp;USD | &nbsp;&nbsp;93326 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2138 |
| Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460026 |
| GBP | &nbsp;&nbsp;293090 | &nbsp;&nbsp;USD | &nbsp;&nbsp;395900 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp; (1655) |
| GBP | &nbsp;&nbsp;311000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;420203 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp; (1939) |
| IDR | &nbsp;&nbsp;5012159145 | &nbsp;&nbsp;USD | &nbsp;&nbsp;303371 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2641) |
| IDR | &nbsp;&nbsp;8279768934 | &nbsp;&nbsp;USD | &nbsp;&nbsp;500633 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3847) |
| IDR | &nbsp;&nbsp;11011064331 | &nbsp;&nbsp;USD | &nbsp;&nbsp;668009 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7345) |
| IDR | &nbsp;&nbsp;8713392948 | &nbsp;&nbsp;USD | &nbsp;&nbsp;528597 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5793) |
| INR | &nbsp;&nbsp;47725541 | &nbsp;&nbsp;USD | &nbsp;&nbsp;539546 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2501) |
| INR | &nbsp;&nbsp;18820361 | &nbsp;&nbsp;USD | &nbsp;&nbsp;213000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1219) |
| INR | &nbsp;&nbsp;262096845 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2969162 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19846) |
| KRW | &nbsp;&nbsp;360880000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;260000 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2689) |
| KRW | &nbsp;&nbsp;194367740 | &nbsp;&nbsp;USD | &nbsp;&nbsp;140388 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1716) |
| KRW | &nbsp;&nbsp;194171764 | &nbsp;&nbsp;USD | &nbsp;&nbsp;140273 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1741) |
| KRW | &nbsp;&nbsp;360880000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;258782 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1310) |
| KRW | &nbsp;&nbsp;412888200 | &nbsp;&nbsp;USD | &nbsp;&nbsp;300000 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5453) |
| PLN | &nbsp;&nbsp;56089 | &nbsp;&nbsp;USD | &nbsp;&nbsp;15496 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67) |
| PLN | &nbsp;&nbsp;3141732 | &nbsp;&nbsp;USD | &nbsp;&nbsp;864758 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(624) |
| PLN | &nbsp;&nbsp;215000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;59781 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(645) |
| PLN | &nbsp;&nbsp;1628482 | &nbsp;&nbsp;USD | &nbsp;&nbsp;449853 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1938) |
| THB | &nbsp;&nbsp;3230739 | &nbsp;&nbsp;USD | &nbsp;&nbsp;100000 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(149) |
| THB | &nbsp;&nbsp;3228684 | &nbsp;&nbsp;USD | &nbsp;&nbsp;100000 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(213) |
| TWD | &nbsp;&nbsp;1770696 | &nbsp;&nbsp;USD | &nbsp;&nbsp;58312 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(128) |
| TWD | &nbsp;&nbsp;10506447 | &nbsp;&nbsp;USD | &nbsp;&nbsp;348727 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3492) |
| USD | &nbsp;&nbsp;2496123 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;3776000 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3687) |
| USD | &nbsp;&nbsp;2357620 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;3607000 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29132) |
| USD | &nbsp;&nbsp;110272 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;169000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1555) |
| USD | &nbsp;&nbsp;12940 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;70593 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(324) |
| USD | &nbsp;&nbsp;3823178 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;20499882 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28554) |
| USD | &nbsp;&nbsp;3292873 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;4580229 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3864) |
| USD | &nbsp;&nbsp;30085 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;24000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63) |
| USD | &nbsp;&nbsp;27201 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;21675 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) |
| USD | &nbsp;&nbsp;503956 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;3589215 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(727) |
| USD | &nbsp;&nbsp;671681 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;4779536 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(374) |
| USD | &nbsp;&nbsp;650408 | &nbsp;&nbsp;DKK | &nbsp;&nbsp;4149058 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2159) |
| USD | &nbsp;&nbsp;651722 | &nbsp;&nbsp;DKK | &nbsp;&nbsp;4139786 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(981) |
| USD | &nbsp;&nbsp;20417203 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;17381328 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32321) |
| USD | &nbsp;&nbsp;17705979 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;15139328 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68350) |
| USD | &nbsp;&nbsp;2130143 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1825000 | &nbsp;&nbsp;Morgan Stanley & Co. International | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12498) |
| USD | &nbsp;&nbsp;246209 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;4130402184 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1615) |
| USD | &nbsp;&nbsp;489189 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;8167988733 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(890) |
| USD | &nbsp;&nbsp;120000 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;2006544000 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(371) |
| USD | &nbsp;&nbsp;641452 | &nbsp;&nbsp;ILS | &nbsp;&nbsp;2153142 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8603) |
| USD | &nbsp;&nbsp;130000 | &nbsp;&nbsp;INR | &nbsp;&nbsp;11571807 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95) |
| USD | &nbsp;&nbsp;1829091 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;273012683 | &nbsp;&nbsp;Bank of America N.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23940) |
| USD | &nbsp;&nbsp;2136202 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;316294612 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10598) |
| USD | &nbsp;&nbsp;2489059 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;370305272 | &nbsp;&nbsp;Morgan Stanley & Co. International | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24330) |
| USD | &nbsp;&nbsp;1832318 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;270189214 | &nbsp;&nbsp;Morgan Stanley & Co. International | &nbsp;&nbsp;11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1549) |
| USD | &nbsp;&nbsp;292465 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;412888200 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2081) |
| USD | &nbsp;&nbsp;70000 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;98109200 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39) |
| USD | &nbsp;&nbsp;19639 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;373000 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(561) |
| USD | &nbsp;&nbsp;796358 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;2824521 | &nbsp;&nbsp;Bank of America N.A.\* | &nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15510) |
| USD | &nbsp;&nbsp;274436 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;2597642 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;10/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1486) |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| USD | &nbsp;&nbsp;235000 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;7152390 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(23) |
| USD | &nbsp;&nbsp;190000 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;5819909 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;10/7/25 | &nbsp;&nbsp;&nbsp; (1035) |
| USD | &nbsp;&nbsp;99173 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;1746200 | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;11/20/25 | &nbsp;&nbsp;&nbsp; (1582) |
| USD | &nbsp;&nbsp;260149 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;4509000 | &nbsp;&nbsp;BNP Paribas S.A. | &nbsp;&nbsp;11/20/25 | &nbsp;&nbsp;&nbsp; (19) |
| USD | &nbsp;&nbsp;66287 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;1169289 | &nbsp;&nbsp;JPMorgan Chase Bank N.A. | &nbsp;&nbsp;11/20/25 | &nbsp;&nbsp;&nbsp; (1181) |
| Total Unrealized Depreciation | Total Unrealized Depreciation | Total Unrealized Depreciation | Total Unrealized Depreciation | Total Unrealized Depreciation | Total Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(347075) |
| Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | Net Unrealized Appreciation | &nbsp;&nbsp;$112951 |
| ‡ Less than $1. | ‡ Less than $1. | ‡ Less than $1. | ‡ Less than $1. | ‡ Less than $1. | ‡ Less than $1. | ‡ Less than $1. |

---

\* Non-deliverable forward.

1. Foreign Currency Forward Contracts are subject to limitations such that they cannot be "sold or repurchased," although the Portfolio would be able to exit the transaction through other means, such as through the execution of an offsetting transaction.

2. As of September 30, 2025, cash collateral of $60,000 was due to a broker for foreign currency forward contracts.

#### Futures Contracts
As of September 30, 2025, the Portfolio held the following futures contracts<sup>1</sup>:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)<sup>2</sup>** |
| **Long Contracts** |  |  |  |  |  |
| Euro-BTP | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp; $6134196 | &nbsp;&nbsp; $6190719 | &nbsp;&nbsp; $56523 |
| Euro-Bund | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 5702340 | &nbsp;&nbsp;&nbsp;&nbsp; 5736009 | &nbsp;&nbsp;&nbsp;&nbsp; 33669 |
| U.S. Treasury 5 Year Notes | &nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 45772959 | &nbsp;&nbsp;&nbsp;&nbsp; 45862031 | &nbsp;&nbsp;&nbsp;&nbsp; 89072 |
| U.S. Treasury 10 Year Ultra Bonds | &nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 15512977 | &nbsp;&nbsp;&nbsp;&nbsp; 15650625 | &nbsp;&nbsp;&nbsp;&nbsp; 137648 |
| U.S. Treasury Ultra Bonds | &nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; 9349748 | &nbsp;&nbsp;&nbsp;&nbsp; 9484938 | &nbsp;&nbsp;&nbsp;&nbsp; 135190 |
| Total Long Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452102 |
| **Short Contracts** |  |  |  |  |  |
| Euro-Bobl | &nbsp;&nbsp;&nbsp;&nbsp;(2) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (276548) | &nbsp;&nbsp;&nbsp;&nbsp; (276630) | &nbsp;&nbsp;&nbsp;&nbsp; (82) |
| Euro-Buxl | &nbsp;&nbsp;&nbsp;&nbsp;(21) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (2758611) | &nbsp;&nbsp;&nbsp;&nbsp; (2822510) | &nbsp;&nbsp;&nbsp;&nbsp; (63899) |
| Euro-OAT | &nbsp;&nbsp;(129) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;(18236020) | &nbsp;&nbsp;&nbsp;&nbsp;(18378755) | &nbsp;&nbsp;&nbsp;&nbsp;(142735) |
| U.S. Treasury 2 Year Notes | &nbsp;&nbsp;(103) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;(21428704) | &nbsp;&nbsp;&nbsp;&nbsp;(21465039) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36335) |
| U.S. Treasury 10 Year Notes | &nbsp;&nbsp;(514) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;(57509131) | &nbsp;&nbsp;&nbsp;&nbsp;(57825000) | &nbsp;&nbsp;&nbsp;&nbsp;(315869) |
| U.S. Treasury Long Bonds | &nbsp;&nbsp;&nbsp;&nbsp;(63) | &nbsp;&nbsp;December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7182405) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7345406) | &nbsp;&nbsp;&nbsp;&nbsp;(163001) |
| Total Short Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(721921) |
| Net Unrealized Depreciation |  |  |  |  | &nbsp;&nbsp;$(269819) |

---

1. As of September 30, 2025, cash in the amount of $12,000 was on deposit with a broker or futures commission merchant for futures transactions.

2. Represents the difference between the value of the contracts at the time they were opened and the value as of September 30, 2025.

#### Written Swaptions
As of September 30, 2025, the Portfolio held the following swaptions agreements:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;**Strike<br> Price** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Premiums Paid<br> (Received)** | &nbsp;&nbsp;**Market<br> Value** |
| Put-2-Year Interest Rate Swap | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;&nbsp;&nbsp;$2.44 | &nbsp;&nbsp;1/25/27 | (19800000) | EUR (19800000) | &nbsp;&nbsp;$176120 | &nbsp;&nbsp;$(88279) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;**Strike<br> Price** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Premiums Paid<br> (Received)** | &nbsp;&nbsp;**Market<br> Value** |
| Call-2-Year Interest Rate Swap | &nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;&nbsp;&nbsp;$2.44 | &nbsp;&nbsp;1/25/27 | (19800000) | EUR (19800000) | &nbsp;&nbsp;$176120 | &nbsp;&nbsp;$(122555) |

---

------

#### Swap Contracts
As of September 30, 2025, the Portfolio held the following centrally cleared interest rate swap agreements<sup>1</sup>:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Payments<br> made by Portfolio** | &nbsp;&nbsp;**Payments<br> Received by Portfolio** | &nbsp;&nbsp;**Payment Frequency<br> Paid/Received** | &nbsp;&nbsp;**Upfront<br> Premiums<br> Paid/<br> (Received)** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** |
| $27900000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;12/20/25 | &nbsp;&nbsp;Fixed 4.25% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp;&nbsp; $19030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(7568) | &nbsp;&nbsp;&nbsp;&nbsp; $(26598) |
| &nbsp;&nbsp;&nbsp;10500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6/18/27 | &nbsp;&nbsp;Fixed 3.25% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp;&nbsp; 80487 | &nbsp;&nbsp;&nbsp;&nbsp; 33718 | &nbsp;&nbsp;&nbsp; (46769) |
| &nbsp;&nbsp;&nbsp;14000000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;9/20/27 | &nbsp;&nbsp;Fixed 0.30% | &nbsp;&nbsp;1 Day TONAR + 0.059% | &nbsp;&nbsp;Semi-Annually/Semi-Annually | &nbsp;&nbsp;&nbsp; (1184) | &nbsp;&nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp;&nbsp;&nbsp; 2497 |
| &nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;10/8/27 | &nbsp;&nbsp;Fixed 1.895% | &nbsp;&nbsp;6 Month EURIBOR | &nbsp;&nbsp;Annually/Semi-Annually | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19301 | &nbsp;&nbsp;&nbsp;&nbsp; 19301 |
| &nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;3/20/28 | &nbsp;&nbsp;Fixed 0.30% | &nbsp;&nbsp;1 Day TONAR + 0.059% | &nbsp;&nbsp;Semi-Annually/Semi-Annually | &nbsp;&nbsp;&nbsp; (4883) | &nbsp;&nbsp;&nbsp;&nbsp; 6343 | &nbsp;&nbsp;&nbsp;&nbsp; 11226 |
| &nbsp;&nbsp;420000000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;9/14/28 | &nbsp;&nbsp;Fixed 0.55% | &nbsp;&nbsp;1 Day TONAR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp; (2907) | &nbsp;&nbsp;&nbsp;&nbsp; 41937 | &nbsp;&nbsp;&nbsp;&nbsp; 44844 |
| &nbsp;&nbsp;106980000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;3/20/29 | &nbsp;&nbsp;Fixed 0.45% | &nbsp;&nbsp;1 Day TONAR + 0.059% | &nbsp;&nbsp;Semi-Annually/Semi-Annually | &nbsp;&nbsp;&nbsp; (19439) | &nbsp;&nbsp;&nbsp;&nbsp; 17368 | &nbsp;&nbsp;&nbsp;&nbsp; 36807 |
| &nbsp;&nbsp;&nbsp;&nbsp;7500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2/28/30 | &nbsp;&nbsp;Fixed 3.30% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp; (1237) | &nbsp;&nbsp;&nbsp;&nbsp; 8708 | &nbsp;&nbsp;&nbsp;&nbsp; 9945 |
| &nbsp;&nbsp;&nbsp;14500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2/28/30 | &nbsp;&nbsp;Fixed 3.325% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp; (112009) | &nbsp;&nbsp;&nbsp;&nbsp; 2610 | &nbsp;&nbsp;&nbsp;&nbsp; 114619 |
| &nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6/3/30 | &nbsp;&nbsp;Fixed 3.77% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp; (17985) | &nbsp;&nbsp;&nbsp; (74509) | &nbsp;&nbsp;&nbsp; (56524) |
| &nbsp;&nbsp;&nbsp;15300000 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;9/17/30 | &nbsp;&nbsp;1 Day SONIA | &nbsp;&nbsp;Fixed 3.75% | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp; (78959) | &nbsp;&nbsp;&nbsp; (81692) | &nbsp;&nbsp;&nbsp; (2733) |
| &nbsp;&nbsp;386000000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;12/15/31 | &nbsp;&nbsp;Fixed 0.50% | &nbsp;&nbsp;1 Day TONAR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp;&nbsp; 329 | &nbsp;&nbsp;&nbsp;&nbsp; 118141 | &nbsp;&nbsp;&nbsp;&nbsp; 117812 |
| &nbsp;&nbsp;&nbsp;&nbsp;5900000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8/15/32 | &nbsp;&nbsp;Floating 6 Month EURIBOR | &nbsp;&nbsp;2.879% | &nbsp;&nbsp;Semi-Annually/Annually | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 162609 | &nbsp;&nbsp;&nbsp;&nbsp; 162609 |
| &nbsp;&nbsp;&nbsp;&nbsp;5100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2/13/34 | &nbsp;&nbsp;Floating 1 Day SOFR | &nbsp;&nbsp;3.085% | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp; (41780) | &nbsp;&nbsp;&nbsp; (179178) | &nbsp;&nbsp;&nbsp; (137398) |
| &nbsp;&nbsp;&nbsp;14800000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3/18/36 | &nbsp;&nbsp;Floating 6 Month EURIBOR | &nbsp;&nbsp;2.75% | &nbsp;&nbsp;Semi-Annually/Annually | &nbsp;&nbsp;&nbsp; (48502) | &nbsp;&nbsp;&nbsp;&nbsp; 24608 | &nbsp;&nbsp;&nbsp;&nbsp; 73110 |
| &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;11/4/52 | &nbsp;&nbsp;Fixed 0.19% | &nbsp;&nbsp;6 Month EURIBOR | &nbsp;&nbsp;Annually/Semi-Annually | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 847751 | &nbsp;&nbsp;&nbsp;&nbsp; 847751 |
| &nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2/13/54 | &nbsp;&nbsp;Fixed 2.865% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp;&nbsp; 126931 | &nbsp;&nbsp;&nbsp;&nbsp; 1294365 | &nbsp;&nbsp;&nbsp;&nbsp; 1167434 |
| &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6/20/54 | &nbsp;&nbsp;Fixed 3.50% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp;&nbsp; 71421 | &nbsp;&nbsp;&nbsp;&nbsp; 213162 | &nbsp;&nbsp;&nbsp;&nbsp; 141741 |
| &nbsp;&nbsp;&nbsp;&nbsp;7800000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3/19/55 | &nbsp;&nbsp;Fixed 3.25% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp;&nbsp; 1018785 | &nbsp;&nbsp;&nbsp;&nbsp; 933883 | &nbsp;&nbsp;&nbsp; (84902) |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6/18/55 | &nbsp;&nbsp;Fixed 3.25% | &nbsp;&nbsp;1 Day SOFR | &nbsp;&nbsp;Annually/Annually | &nbsp;&nbsp;&nbsp;&nbsp; 171210 | &nbsp;&nbsp;&nbsp;&nbsp; 299541 | &nbsp;&nbsp;&nbsp;&nbsp; 128331 |
| &nbsp;&nbsp;&nbsp;&nbsp;3280000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3/18/56 | &nbsp;&nbsp;Fixed 3.00% | &nbsp;&nbsp;6 Month EURIBOR | &nbsp;&nbsp;Annually/Semi-Annually | &nbsp;&nbsp;&nbsp; (55896) | &nbsp;&nbsp;&nbsp; (62034) | &nbsp;&nbsp;&nbsp; (6138) |
|  |  |  |  |  |  | &nbsp;&nbsp;$1103412 | &nbsp;&nbsp;$3620377 | &nbsp;&nbsp;$2516965 |

---

As of September 30, 2025, the Portfolio held the following centrally cleared inflation swap agreements<sup>1</sup>:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Payments<br> Made by Portfolio** | &nbsp;&nbsp;**Payments<br> Received by Portfolio** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Upfront<br> Premiums<br> Paid/<br> (Received)** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** |
| $4410000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;10/7/25 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 2.208% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $(23629) | &nbsp;&nbsp; $(23629) |
| &nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 2.38% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (12947) | &nbsp;&nbsp;&nbsp; (12947) |
| &nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1/14/26 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 2.70% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (14427) | &nbsp;&nbsp;&nbsp; (14427) |
| &nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2/5/26 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 2.82% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (6648) | &nbsp;&nbsp;&nbsp; (6648) |
| &nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2/13/26 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 2.842% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (6981) | &nbsp;&nbsp;&nbsp; (6981) |
| &nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2/21/26 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 3.043% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2677) | &nbsp;&nbsp;&nbsp; (2677) |
| &nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2/26/26 | &nbsp;&nbsp;Fixed 2.314% | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 15870 | &nbsp;&nbsp;&nbsp;&nbsp; 685934 | &nbsp;&nbsp;&nbsp;&nbsp; 670064 |
| &nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3/5/26 | &nbsp;&nbsp;Fixed 2.419% | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 6823 | &nbsp;&nbsp;&nbsp;&nbsp; 327790 | &nbsp;&nbsp;&nbsp;&nbsp; 320967 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Payments<br> Made by Portfolio** | &nbsp;&nbsp;**Payments<br> Received by Portfolio** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Upfront<br> Premiums<br> Paid/<br> (Received)** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** |
| $1500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4/23/26 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 3.323% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3876 | &nbsp;&nbsp;&nbsp;&nbsp; $3876 |
| &nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5/13/26 | &nbsp;&nbsp;Fixed 2.768% | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 1485 | &nbsp;&nbsp;&nbsp;&nbsp; 220628 | &nbsp;&nbsp;&nbsp;&nbsp; 219143 |
| &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5/14/26 | &nbsp;&nbsp;Fixed 2.813% | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 351 | &nbsp;&nbsp;&nbsp;&nbsp; 97687 | &nbsp;&nbsp;&nbsp;&nbsp; 97336 |
| &nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5/25/26 | &nbsp;&nbsp;Fixed 2.703% | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 1279 | &nbsp;&nbsp;&nbsp;&nbsp; 127936 | &nbsp;&nbsp;&nbsp;&nbsp; 126657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6/1/26 | &nbsp;&nbsp;Fixed 2.69% | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 529 | &nbsp;&nbsp;&nbsp;&nbsp; 51113 | &nbsp;&nbsp;&nbsp;&nbsp; 50584 |
| &nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6/4/26 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 3.30% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 741 | &nbsp;&nbsp;&nbsp;&nbsp; 741 |
| &nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;8/27/26 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 3.434% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7882 | &nbsp;&nbsp;&nbsp;&nbsp; 7882 |
| &nbsp;&nbsp;&nbsp;6700000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;6/15/27 | &nbsp;&nbsp;Fixed 1.636% | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28740 | &nbsp;&nbsp;&nbsp;&nbsp; 28740 |
| &nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;9/15/27 | &nbsp;&nbsp;Fixed 3.365% | &nbsp;&nbsp;1 Month UKRPI-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2444) | &nbsp;&nbsp;&nbsp; (2444) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5/9/28 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 2.36% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (3499) | &nbsp;&nbsp;&nbsp; (88850) | &nbsp;&nbsp;&nbsp; (85351) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5/9/28 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 2.353% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (2488) | &nbsp;&nbsp;&nbsp; (59282) | &nbsp;&nbsp;&nbsp; (56794) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;8/26/28 | &nbsp;&nbsp;Fixed 2.573% | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26010 | &nbsp;&nbsp;&nbsp;&nbsp; 26010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9/10/28 | &nbsp;&nbsp;Fixed 2.645% | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39217 | &nbsp;&nbsp;&nbsp;&nbsp; 39217 |
| &nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;11/4/29 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 1.76% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (109795) | &nbsp;&nbsp;&nbsp; (479821) | &nbsp;&nbsp;&nbsp; (370026) |
| &nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5/19/30 | &nbsp;&nbsp;1 Month USD-CPI | &nbsp;&nbsp;Fixed 1.28% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (159555) | &nbsp;&nbsp;&nbsp; (512694) | &nbsp;&nbsp;&nbsp; (353139) |
| &nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3/15/31 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 1.38% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (64948) | &nbsp;&nbsp;&nbsp; (702905) | &nbsp;&nbsp;&nbsp; (637957) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8/15/34 | &nbsp;&nbsp;Fixed 2.049% | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (8831) | &nbsp;&nbsp;&nbsp; (8831) |
| &nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8/15/34 | &nbsp;&nbsp;Fixed 2.049% | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (2513) | &nbsp;&nbsp;&nbsp; (20186) | &nbsp;&nbsp;&nbsp; (17673) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;8/15/34 | &nbsp;&nbsp;1 Month UKRPI-CPI | &nbsp;&nbsp;Fixed 3.5% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 2408 | &nbsp;&nbsp;&nbsp;&nbsp; 11221 | &nbsp;&nbsp;&nbsp;&nbsp; 8813 |
| &nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;8/15/34 | &nbsp;&nbsp;1 Month UKRPI-CPI | &nbsp;&nbsp;Fixed 3.5% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 6669 | &nbsp;&nbsp;&nbsp;&nbsp; 22442 | &nbsp;&nbsp;&nbsp;&nbsp; 15773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;9/15/34 | &nbsp;&nbsp;1 Month UKRPI-CPI | &nbsp;&nbsp;Fixed 3.466% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10971 | &nbsp;&nbsp;&nbsp;&nbsp; 10971 |
| &nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9/15/34 | &nbsp;&nbsp;Fixed 2.034% | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (13826) | &nbsp;&nbsp;&nbsp; (13826) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;9/15/34 | &nbsp;&nbsp;1 Month UKRPI-CPI | &nbsp;&nbsp;Fixed 3.466% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (155) | &nbsp;&nbsp;&nbsp;&nbsp; 9600 | &nbsp;&nbsp;&nbsp;&nbsp; 9755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9/15/34 | &nbsp;&nbsp;Fixed 2.034% | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (3015) | &nbsp;&nbsp;&nbsp; (3193) | &nbsp;&nbsp;&nbsp; (178) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5/15/37 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.488% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1692 | &nbsp;&nbsp;&nbsp;&nbsp; 1692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3/15/52 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.59% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp; (9252) | &nbsp;&nbsp;&nbsp;&nbsp; 19612 | &nbsp;&nbsp;&nbsp;&nbsp; 28864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3/15/52 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.58% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4555 | &nbsp;&nbsp;&nbsp;&nbsp; 4555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3/15/52 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.58% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp; 4555 | &nbsp;&nbsp;&nbsp;&nbsp; 4448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4/15/52 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.55% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp; 4582 | &nbsp;&nbsp;&nbsp;&nbsp; 4467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4/15/53 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.70% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 2455 | &nbsp;&nbsp;&nbsp;&nbsp; 64100 | &nbsp;&nbsp;&nbsp;&nbsp; 61645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9/15/53 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.763% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 73435 | &nbsp;&nbsp;&nbsp;&nbsp; 73435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9/15/53 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.763% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 784 | &nbsp;&nbsp;&nbsp;&nbsp; 55077 | &nbsp;&nbsp;&nbsp;&nbsp; 54293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9/15/53 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.763% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 1660 | &nbsp;&nbsp;&nbsp;&nbsp; 36718 | &nbsp;&nbsp;&nbsp;&nbsp; 35058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;10/15/53 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.736% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17417 | &nbsp;&nbsp;&nbsp;&nbsp; 17417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;10/15/53 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.736% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 3663 | &nbsp;&nbsp;&nbsp;&nbsp; 52251 | &nbsp;&nbsp;&nbsp;&nbsp; 48588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;10/15/53 | &nbsp;&nbsp;1 Month EUR-CPI | &nbsp;&nbsp;Fixed 2.682% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 46659 | &nbsp;&nbsp;&nbsp;&nbsp; 46659 |
|  |  |  |  |  |  | &nbsp;&nbsp;$(311022) | &nbsp;&nbsp;$93100 | &nbsp;&nbsp;$404122 |

---

As of September 30, 2025, the Portfolio held the following open OTC debt total return swap agreements:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Swap<br> Counterparty** | &nbsp;&nbsp;**Reference Obligation** | &nbsp;&nbsp;**Floating Rate<sup>2</sup>** | &nbsp;&nbsp;**Termination<br> Date(s)** | &nbsp;&nbsp;**Payment<br> Frequency<br> Paid/<br> Received** | &nbsp;&nbsp;**Notional<br> Amount<br> Long/<br> (Short)<br> (000)<sup>3</sup>** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** |
| Morgan Stanley Capital Services LLC | &nbsp;&nbsp;U.S. Treasury Inflation Linked Notes, 0.375%, 07/15/2027 | &nbsp;&nbsp;1 Day SOFR + 0.13% | &nbsp;&nbsp;10/9/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp; $10000 | &nbsp;&nbsp; $(51692) |
| Morgan Stanley Capital Services LLC | &nbsp;&nbsp;U.S. Treasury Inflation Linked Notes, 0.50%, 01/15/2028 | &nbsp;&nbsp;1 Day SOFR + 0.13% | &nbsp;&nbsp;10/9/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; (88826) |
| Morgan Stanley Capital Services LLC | &nbsp;&nbsp;U.S. Treasury Inflation Linked Notes, 0.375%, 01/15/2027 | &nbsp;&nbsp;1 Day SOFR + 0.13% | &nbsp;&nbsp;10/9/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; (38621) |
| Morgan Stanley Capital Services LLC | &nbsp;&nbsp;U.S. Treasury Inflation Linked Notes, 0.125%, 07/15/2031 | &nbsp;&nbsp;1 Day SOFR + 0.13% | &nbsp;&nbsp;10/9/25 | &nbsp;&nbsp;Daily | &nbsp;&nbsp;&nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; (141587) |
|  |  |  |  |  |  | &nbsp;&nbsp;$(320726) |

---

------

1. As of September 30, 2025, cash in the amount of $1,228,000 was on deposit with a broker for centrally cleared swap agreements.

2. Portfolio receives the total return of the referenced entity and pays the floating rate.

3. Notional amounts reflected as a positive value indicate a long position held by the Portfolio or Index and a negative value indicates a short position.

---

| |
|:---|
| Abbreviation(s): |
| AUD—Australia Dollar |
| Bobl—Bundesobligation, the German word for federal government bond |
| BRL—Brazil Real |
| BTP—Buoni del Tesoro Poliennali (Eurex Exchange index) |
| Buxl—Ultra Long German Bond Future |
| CAD—Canada Dollar |
| CHF—Switzerland Franc |
| CLO—Collateralized Loan Obligation |
| CNY—China Yuan Renminbi |
| CPI—Consumer Price Index |
| DAC—Designated Activity Company |
| DKK—Denmark Krone |
| EUR—Euro |
| EURIBOR—Euro Interbank Offered Rate |
| FHLMC—Federal Home Loan Mortgage Corp. |
| FNMA—Federal National Mortgage Association |
| GBP—British Pound Sterling |
| GNMA—Government National Mortgage Association |
| IDR—Indonesia Rupiah |
| ILS—Israel Shekel |
| INR—Indian Rupee |
| JPY—Japanese Yen |
| KRW—Korean Won |
| MXN—Mexico Peso |
| OAT—Obligations assimilables du Trésor |
| PEN—Peru Nuevo Sol |
| PLN—Poland Zloty |
| REMIC—Real Estate Mortgage Investment Conduit |
| SEK—Sweden Krona |
| SGD—Singapore Dollar |
| SOFR—Secured Overnight Financing Rate |
| SONIA3M IR—Sterling Overnight Interbank Average 3 Month Index Rate |
| TBA—To Be Announced |
| THB—Thailand Baht |
| TONAR—Tokyo Overnight Average Rate |

---

------

---

| |
|:---|
| TWD—Taiwan New Dollar |
| UKRPI—UK Retail Price Index |
| UMBS—Uniform Mortgage Backed Securities |
| USD—United States Dollar |
| ZAR—South African Rand |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Long-Term Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $30642188 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $30642188 |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3260263 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3260263 |
| &nbsp;&nbsp;&nbsp;Foreign Government Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17591079 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 17591079 |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23909363 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 23909363 |
| &nbsp;&nbsp;&nbsp;U.S. Government & Federal Agencies | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 441328799 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 441328799 |
| Total Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516731692 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516731692 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 806431 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 806431 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516731692 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517538123 |
| Other Financial Instruments (b) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreign Currency Forward Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 460026 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 460026 |
| &nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 452102 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 452102 |
| &nbsp;&nbsp;&nbsp;Interest Rate Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2878027 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2878027 |
| &nbsp;&nbsp;&nbsp;Inflation Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2017650 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 2017650 |
| Total Other Financial Instruments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5355703 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5807805 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$1258533 | &nbsp;&nbsp;$522087395 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$523345928 |
| **Liability Valuation Inputs** |  |  |  |  |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreign Currency Forward Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(347075) | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(347075) |
| &nbsp;&nbsp;&nbsp;Futures Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; (721921) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; (721921) |
| &nbsp;&nbsp;&nbsp;Written Options | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (210834) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; (210834) |
| &nbsp;&nbsp;&nbsp;Interest Rate Swap Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (361062) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; (361062) |
| &nbsp;&nbsp;&nbsp;Inflation Swap Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1613528) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; (1613528) |
| &nbsp;&nbsp;&nbsp;OTC Debt Total Return Swap Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (320726) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; (320726) |
| Total Other Financial Instruments | &nbsp;&nbsp;$(721921) | &nbsp;&nbsp;&nbsp;$(2853225) | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$(3575146) |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

#### Sale-Buyback Transactions:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Borrowing<br> Rate (a)** | &nbsp;&nbsp;**Borrowing<br> Date** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Amount<br> Borrowed (a)** | &nbsp;&nbsp;**Payable for<br> Sale-BuyBack<br> Transactions (b)** |
| BNP Paribas S.A. | &nbsp;&nbsp;4.26% | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;10/16/2025 | &nbsp;&nbsp;&nbsp;$9154547 | &nbsp;&nbsp;&nbsp;$9151260 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.26 | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7209317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7209633 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.26 | &nbsp;&nbsp;9/17/2025 | &nbsp;&nbsp;10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9950844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9951998 |
| BofA Securities, Inc. | &nbsp;&nbsp;4.26 | &nbsp;&nbsp;9/23/2025 | &nbsp;&nbsp;10/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3475688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3475675 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.33 | &nbsp;&nbsp;9/24/2025 | &nbsp;&nbsp;10/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915835 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.33 | &nbsp;&nbsp;9/24/2025 | &nbsp;&nbsp;10/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1588233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1588233 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.33 | &nbsp;&nbsp;9/24/2025 | &nbsp;&nbsp;10/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11801545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11801545 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.33 | &nbsp;&nbsp;9/24/2025 | &nbsp;&nbsp;10/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743810 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16089381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16089708 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6530540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6530747 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7346908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7347066 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5484693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5484794 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7112775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7112998 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6591981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6592195 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7167291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7167590 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9979446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9979276 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6738430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6738233 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13872209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13872100 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17995581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17995101 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7815919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7815712 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8327622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8327422 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12165103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12164852 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29430960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29430224 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12670688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12670488 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13096062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13095787 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29727315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29727047 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11278983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11279115 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12438873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12438930 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20075847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20076075 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15212637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15212967 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6535415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6535588 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11752570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11752849 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11293902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11293983 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.39 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5923438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5923489 |
| BNP Paribas S.A. | &nbsp;&nbsp;4.40 | &nbsp;&nbsp;9/29/2025 | &nbsp;&nbsp;10/2/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3885997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3885816 |
|  |  |  |  | &nbsp;&nbsp;$363380385 | &nbsp;&nbsp;$363378141 |

---

(a) During the period ended September 30, 2025, the Portfolio's average amount of borrowing was $46,979,539 at a weighted average interest rate of 4.46%.

(b) Payable for sale-buyback transactions includes $(2,244) of deferred price drop.

------

## NYLI VP Small Cap Growth Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 97.2%** | **Common Stocks 97.2%** | **Common Stocks 97.2%** |
| **Aerospace & Defense 5.0%** | **Aerospace & Defense 5.0%** | **Aerospace & Defense 5.0%** |
| BWX Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9245 | &nbsp;&nbsp;$1704501 |
| Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7396 | &nbsp;&nbsp;&nbsp;&nbsp; 4015584 |
| Loar Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 39249 | &nbsp;&nbsp;&nbsp;&nbsp; 3139920 |
| StandardAero, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 132385 | &nbsp;&nbsp;&nbsp;&nbsp; 3612786 |
| VSE Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 37537 | &nbsp;&nbsp;&nbsp;&nbsp; 6240151 |
| Woodward, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6073 | &nbsp;&nbsp;&nbsp;&nbsp; 1534708 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20247650 |
| **Automobile Components 1.3%** | **Automobile Components 1.3%** | **Automobile Components 1.3%** |
| Modine Manufacturing Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 35672 | &nbsp;&nbsp;&nbsp;&nbsp; 5071131 |
| **Banks 2.4%** | **Banks 2.4%** | **Banks 2.4%** |
| Bancorp, Inc. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 62737 | &nbsp;&nbsp;&nbsp;&nbsp; 4698374 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 77819 | &nbsp;&nbsp;&nbsp;&nbsp; 5163291 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9861665 |
| **Beverages 0.6%** | **Beverages 0.6%** | **Beverages 0.6%** |
| Vita Coco Co., Inc. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 55740 | &nbsp;&nbsp;&nbsp;&nbsp; 2367278 |
| **Biotechnology 4.5%** | **Biotechnology 4.5%** | **Biotechnology 4.5%** |
| Alkermes plc (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000990 |
| Biohaven Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360090 |
| Blueprint Medicines Corp., CVR (a)(b)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cytokinetics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4084682 |
| Denali Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662801 |
| Madrigal Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2297887 |
| Neurocrine Biosciences, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2494131 |
| Protagonist Therapeutics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1844695 |
| Vaxcyte, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2327396 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18072672 |
| **Building Products 3.4%** | **Building Products 3.4%** | **Building Products 3.4%** |
| AAON, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2753864 |
| CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405895 |
| Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275134 |
| Simpson Manufacturing Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3370467 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2794052 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13599412 |
| **Capital Markets 3.3%** | **Capital Markets 3.3%** | **Capital Markets 3.3%** |
| DigitalBridge Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377862 |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3229299 |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5192338 |
| StepStone Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3764468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13563967 |
| **Chemicals 1.6%** | **Chemicals 1.6%** | **Chemicals 1.6%** |
| Hawkins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4652965 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Chemicals** | **Chemicals** | **Chemicals** |
| HB Fuller Co. | &nbsp;&nbsp;&nbsp;&nbsp; 33584 | &nbsp;&nbsp;$1990859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6643824 |
| **Commercial Services & Supplies 6.1%** | **Commercial Services & Supplies 6.1%** | **Commercial Services & Supplies 6.1%** |
| Casella Waste Systems, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 77364 | &nbsp;&nbsp;&nbsp;&nbsp; 7340296 |
| CECO Environmental Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 57759 | &nbsp;&nbsp;&nbsp;&nbsp; 2957261 |
| MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10174 | &nbsp;&nbsp;&nbsp;&nbsp; 1750640 |
| OPENLANE, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 108722 | &nbsp;&nbsp;&nbsp;&nbsp; 3129019 |
| Rentokil Initial plc, Sponsored ADR (d) | &nbsp;&nbsp;&nbsp;&nbsp; 59003 | &nbsp;&nbsp;&nbsp;&nbsp; 1489826 |
| Tetra Tech, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 48815 | &nbsp;&nbsp;&nbsp;&nbsp; 1629445 |
| Waste Connections, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 36547 | &nbsp;&nbsp;&nbsp;&nbsp; 6424962 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24721449 |
| **Construction & Engineering 4.9%** | **Construction & Engineering 4.9%** | **Construction & Engineering 4.9%** |
| Construction Partners, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 30049 | &nbsp;&nbsp;&nbsp;&nbsp; 3816223 |
| Everus Construction Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 48819 | &nbsp;&nbsp;&nbsp;&nbsp; 4186229 |
| Fluor Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 56743 | &nbsp;&nbsp;&nbsp;&nbsp; 2387178 |
| Limbach Holdings, Inc. (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 22967 | &nbsp;&nbsp;&nbsp;&nbsp; 2230555 |
| Sterling Infrastructure, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3433825 |
| Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3950969 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20004979 |
| **Construction Materials 1.8%** | **Construction Materials 1.8%** | **Construction Materials 1.8%** |
| Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2328303 |
| James Hardie Industries plc, ADR (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915410 |
| Knife River Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436162 |
| United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1774083 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7453958 |
| **Consumer Staples Distribution & Retail 1.4%** | **Consumer Staples Distribution & Retail 1.4%** | **Consumer Staples Distribution & Retail 1.4%** |
| Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4308304 |
| Sprouts Farmers Market, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159699 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5468003 |
| **Diversified Consumer Services 2.7%** | **Diversified Consumer Services 2.7%** | **Diversified Consumer Services 2.7%** |
| Bright Horizons Family Solutions, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7688276 |
| KinderCare Learning Cos., Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710799 |
| Mister Car Wash, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2568788 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10967863 |
| **Diversified Telecommunication Services 0.3%** | **Diversified Telecommunication Services 0.3%** | **Diversified Telecommunication Services 0.3%** |
| Cogent Communications Holdings, Inc. (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383323 |
| **Electrical Equipment 0.3%** | **Electrical Equipment 0.3%** | **Electrical Equipment 0.3%** |
| Generac Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173307 |
| **Electronic Equipment, Instruments & Components 3.9%** | **Electronic Equipment, Instruments & Components 3.9%** | **Electronic Equipment, Instruments & Components 3.9%** |
| Itron, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2373615 |
| Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004441 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Electronic Equipment, Instruments & Components** | **Electronic Equipment, Instruments & Components** | **Electronic Equipment, Instruments & Components** |
| Mirion Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 356204 | &nbsp;&nbsp;$8285305 |
| Novanta, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 42787 | &nbsp;&nbsp;&nbsp;&nbsp; 4285118 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15948479 |
| **Energy Equipment & Services 3.1%** | **Energy Equipment & Services 3.1%** | **Energy Equipment & Services 3.1%** |
| Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 20359 | &nbsp;&nbsp;&nbsp;&nbsp; 803570 |
| Oceaneering International, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 206564 | &nbsp;&nbsp;&nbsp;&nbsp; 5118656 |
| Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp; 64638 | &nbsp;&nbsp;&nbsp;&nbsp; 2221608 |
| TechnipFMC plc | &nbsp;&nbsp;&nbsp;&nbsp; 116549 | &nbsp;&nbsp;&nbsp;&nbsp; 4597858 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12741692 |
| **Entertainment 0.6%** | **Entertainment 0.6%** | **Entertainment 0.6%** |
| Take-Two Interactive Software, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9488 | &nbsp;&nbsp;&nbsp;&nbsp; 2451320 |
| **Food Products 0.9%** | **Food Products 0.9%** | **Food Products 0.9%** |
| Freshpet, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 17007 | &nbsp;&nbsp;&nbsp;&nbsp; 937256 |
| Vital Farms, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 69926 | &nbsp;&nbsp;&nbsp;&nbsp; 2877455 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3814711 |
| **Ground Transportation 0.8%** | **Ground Transportation 0.8%** | **Ground Transportation 0.8%** |
| Saia, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3239674 |
| **Health Care Equipment & Supplies 3.1%** | **Health Care Equipment & Supplies 3.1%** | **Health Care Equipment & Supplies 3.1%** |
| Establishment Labs Holdings, Inc. (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3338103 |
| Glaukos Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2296611 |
| Globus Medical, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631737 |
| Kestra Medical Technologies Ltd. (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036839 |
| OrthoPediatrics Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192720 |
| PROCEPT BioRobotics Corp. (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666545 |
| SI-BONE, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541905 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12704460 |
| **Health Care Providers & Services 7.8%** | **Health Care Providers & Services 7.8%** | **Health Care Providers & Services 7.8%** |
| Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4585295 |
| Ensign Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4370563 |
| Guardant Health, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4272383 |
| HealthEquity, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9236663 |
| LifeStance Health Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637560 |
| Option Care Health, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2132273 |
| RadNet, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31547059 |
| **Health Care Technology 0.1%** | **Health Care Technology 0.1%** | **Health Care Technology 0.1%** |
| Phreesia, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548980 |
| **Hotels, Restaurants & Leisure 0.9%** | **Hotels, Restaurants & Leisure 0.9%** | **Hotels, Restaurants & Leisure 0.9%** |
| Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643738 |
| First Watch Restaurant Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446397 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Hotels, Restaurants & Leisure** | **Hotels, Restaurants & Leisure** | **Hotels, Restaurants & Leisure** |
| Kura Sushi USA, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 21193 | &nbsp;&nbsp;$1259076 |
| Sweetgreen, Inc., Class A (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 61338 | &nbsp;&nbsp;&nbsp;&nbsp; 489477 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3838688 |
| **Household Durables 1.7%** | **Household Durables 1.7%** | **Household Durables 1.7%** |
| Cavco Industries, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4064 | &nbsp;&nbsp;&nbsp;&nbsp; 2360087 |
| Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15284 | &nbsp;&nbsp;&nbsp;&nbsp; 3769951 |
| TopBuild Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2179 | &nbsp;&nbsp;&nbsp;&nbsp; 851684 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6981722 |
| **Industrial REITs 1.2%** | **Industrial REITs 1.2%** | **Industrial REITs 1.2%** |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13155 | &nbsp;&nbsp;&nbsp;&nbsp; 2226616 |
| Terreno Realty Corp. (d) | &nbsp;&nbsp;&nbsp;&nbsp; 49723 | &nbsp;&nbsp;&nbsp;&nbsp; 2821780 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5048396 |
| **Insurance 1.8%** | **Insurance 1.8%** | **Insurance 1.8%** |
| Goosehead Insurance, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 21633 | &nbsp;&nbsp;&nbsp;&nbsp; 1609928 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4002 | &nbsp;&nbsp;&nbsp;&nbsp; 1701890 |
| Skyward Specialty Insurance Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 82525 | &nbsp;&nbsp;&nbsp;&nbsp; 3924889 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7236707 |
| **Life Sciences Tools & Services 1.7%** | **Life Sciences Tools & Services 1.7%** | **Life Sciences Tools & Services 1.7%** |
| Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3876799 |
| Bruker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3080344 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6957143 |
| **Machinery 2.3%** | **Machinery 2.3%** | **Machinery 2.3%** |
| Enerpac Tool Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519880 |
| Enpro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2893026 |
| IDEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212399 |
| Kadant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504862 |
| Mueller Water Products, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421132 |
| SPX Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931866 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9483165 |
| **Metals & Mining 1.0%** | **Metals & Mining 1.0%** | **Metals & Mining 1.0%** |
| Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3963414 |
| **Oil, Gas & Consumable Fuels 1.4%** | **Oil, Gas & Consumable Fuels 1.4%** | **Oil, Gas & Consumable Fuels 1.4%** |
| Matador Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284286 |
| Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3248370 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5532656 |
| **Pharmaceuticals 0.4%** | **Pharmaceuticals 0.4%** | **Pharmaceuticals 0.4%** |
| Crinetics Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693572 |
| **Professional Services 1.1%** | **Professional Services 1.1%** | **Professional Services 1.1%** |
| Parsons Corp. (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4254708 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Real Estate Management & Development 0.4%** | **Real Estate Management & Development 0.4%** | **Real Estate Management & Development 0.4%** |
| FirstService Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 8644 | &nbsp;&nbsp;$1646596 |
| **Semiconductors & Semiconductor Equipment 8.1%** | **Semiconductors & Semiconductor Equipment 8.1%** | **Semiconductors & Semiconductor Equipment 8.1%** |
| Credo Technology Group Holding Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 21065 | &nbsp;&nbsp;&nbsp;&nbsp; 3067274 |
| Entegris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 40222 | &nbsp;&nbsp;&nbsp;&nbsp; 3718926 |
| Lattice Semiconductor Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 99993 | &nbsp;&nbsp;&nbsp;&nbsp; 7331487 |
| MACOM Technology Solutions Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 27069 | &nbsp;&nbsp;&nbsp;&nbsp; 3369820 |
| Onto Innovation, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 23813 | &nbsp;&nbsp;&nbsp;&nbsp; 3077116 |
| Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 29957 | &nbsp;&nbsp;&nbsp;&nbsp; 1204571 |
| SiTime Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 20862 | &nbsp;&nbsp;&nbsp;&nbsp; 6285929 |
| Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 21190 | &nbsp;&nbsp;&nbsp;&nbsp; 3043520 |
| Veeco Instruments, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 52191 | &nbsp;&nbsp;&nbsp;&nbsp; 1588172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32686815 |
| **Software 10.7%** | **Software 10.7%** | **Software 10.7%** |
| Alkami Technology, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 60358 | &nbsp;&nbsp;&nbsp;&nbsp; 1499293 |
| Appfolio, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1619 | &nbsp;&nbsp;&nbsp;&nbsp; 446294 |
| Box, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 117696 | &nbsp;&nbsp;&nbsp;&nbsp; 3798050 |
| CCC Intelligent Solutions Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6607774 |
| Clearwater Analytics Holdings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3292164 |
| Confluent, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1517116 |
| Descartes Systems Group, Inc. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3239439 |
| Dynatrace, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5441904 |
| Guidewire Software, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2194473 |
| JFrog Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3773148 |
| Netskope, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68690 |
| Onestream, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215636 |
| Procore Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650813 |
| SailPoint, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292140 |
| ServiceTitan, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481325 |
| Vertex, Inc., Class A (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2774199 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43292458 |
| **Specialty Retail 1.5%** | **Specialty Retail 1.5%** | **Specialty Retail 1.5%** |
| Boot Barn Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4434502 |
| Revolve Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5887332 |
| **Trading Companies & Distributors 3.1%** | **Trading Companies & Distributors 3.1%** | **Trading Companies & Distributors 3.1%** |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2771046 |
| FTAI Aviation Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3187360 |
| McGrath RentCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932165 |
| SiteOne Landscape Supply, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4726445 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12617016 |
| Total Common Stocks<br> (Cost $342,372,916) |  | &nbsp;&nbsp;&nbsp;&nbsp;394717244 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investments 3.0%** | **Short-Term Investments 3.0%** | **Short-Term Investments 3.0%** |
| **Affiliated Investment Company 1.9%** | **Affiliated Investment Company 1.9%** | **Affiliated Investment Company 1.9%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (e) | &nbsp;&nbsp;&nbsp;&nbsp;7712332 | &nbsp;&nbsp;$7712332 |
| **Unaffiliated Investment Companies 1.1%** | **Unaffiliated Investment Companies 1.1%** | **Unaffiliated Investment Companies 1.1%** |
| Invesco Government & Agency Portfolio, 4.131% (e)(f) | &nbsp;&nbsp;&nbsp;&nbsp;3409443 | &nbsp;&nbsp;&nbsp;&nbsp; 3409443 |
| Morgan Stanley Institutional Liquidity Fund Government Portfolio, 4.141% (e)(f) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4409443 |
| Total Short-Term Investments<br> (Cost $12,121,775) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12121775 |
| Total Investments<br> (Cost $354,494,691) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.2% | &nbsp;&nbsp;&nbsp;&nbsp;406839019 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(919489) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$405919530 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | Illiquid security—As of September 30, 2025, the total market value deemed illiquid under procedures approved by the Board of Trustees was $0, which represented less than one-tenth of a percent of the Portfolio's net assets. |
| (c) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
| (d) | All or a portion of this security was held on loan. As of September 30, 2025, the aggregate market value of securities on loan was $13,757,522; the total market value of collateral held by the Portfolio was $14,085,825. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $9,676,382. The Portfolio received cash collateral with a value of $4,409,443. |
| (e) | Current yield as of September 30, 2025. |
| (f) | Represents a security purchased with cash collateral received for securities on loan. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$13350 | &nbsp;&nbsp;$128515 | &nbsp;&nbsp;$(134153) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$7712 | &nbsp;&nbsp;$411 | &nbsp;&nbsp;$— | &nbsp;&nbsp;7712 |

---

Abbreviation(s): <br> ADR—American Depositary Receipt <br> REIT—Real Estate Investment Trust

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $394717244 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $394717244 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 7712332 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 7712332 |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 4409443 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 4409443 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12121775 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12121775 |
| Total Investments in Securities | &nbsp;&nbsp;$406839019 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$406839019 |

---

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

------

## NYLI VP American Century Sustainable Equity Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 99.5%** | **Common Stocks 99.5%** | **Common Stocks 99.5%** |
| **Air Freight & Logistics 0.3%** | **Air Freight & Logistics 0.3%** | **Air Freight & Logistics 0.3%** |
| FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 5371 | &nbsp;&nbsp;$1266536 |
| **Automobiles 1.7%** | **Automobiles 1.7%** | **Automobiles 1.7%** |
| Tesla, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15099 | &nbsp;&nbsp;&nbsp;&nbsp; 6714827 |
| **Banks 4.1%** | **Banks 4.1%** | **Banks 4.1%** |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;108341 | &nbsp;&nbsp;&nbsp;&nbsp; 5589312 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 20102 | &nbsp;&nbsp;&nbsp;&nbsp; 6340774 |
| Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;184195 | &nbsp;&nbsp;&nbsp;&nbsp; 4857222 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16787308 |
| **Beverages 0.7%** | **Beverages 0.7%** | **Beverages 0.7%** |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19638 | &nbsp;&nbsp;&nbsp;&nbsp; 2757961 |
| **Biotechnology 2.2%** | **Biotechnology 2.2%** | **Biotechnology 2.2%** |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 17314 | &nbsp;&nbsp;&nbsp;&nbsp; 4008884 |
| Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25502 | &nbsp;&nbsp;&nbsp;&nbsp; 2830722 |
| Vertex Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4963 | &nbsp;&nbsp;&nbsp;&nbsp; 1943709 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8783315 |
| **Broadline Retail 3.5%** | **Broadline Retail 3.5%** | **Broadline Retail 3.5%** |
| Amazon.com, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14185320 |
| **Building Products 1.3%** | **Building Products 1.3%** | **Building Products 1.3%** |
| Johnson Controls International plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5399095 |
| **Capital Markets 4.6%** | **Capital Markets 4.6%** | **Capital Markets 4.6%** |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480321 |
| BlackRock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2856381 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2031869 |
| KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2124553 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5023295 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3959386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18475805 |
| **Chemicals 1.6%** | **Chemicals 1.6%** | **Chemicals 1.6%** |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2485553 |
| Linde plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4098775 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6584328 |
| **Commercial Services & Supplies 0.3%** | **Commercial Services & Supplies 0.3%** | **Commercial Services & Supplies 0.3%** |
| Copart, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1282275 |
| **Communications Equipment 1.6%** | **Communications Equipment 1.6%** | **Communications Equipment 1.6%** |
| Arista Networks, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2888555 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Communications Equipment** | **Communications Equipment** | **Communications Equipment** |
| Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7540 | &nbsp;&nbsp;$3447967 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6336522 |
| **Consumer Finance 0.9%** | **Consumer Finance 0.9%** | **Consumer Finance 0.9%** |
| American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp; 11002 | &nbsp;&nbsp;&nbsp;&nbsp; 3654424 |
| **Consumer Staples Distribution & Retail 1.4%** | **Consumer Staples Distribution & Retail 1.4%** | **Consumer Staples Distribution & Retail 1.4%** |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2843 | &nbsp;&nbsp;&nbsp;&nbsp; 2631566 |
| Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 37341 | &nbsp;&nbsp;&nbsp;&nbsp; 3074658 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5706224 |
| **Containers & Packaging 0.4%** | **Containers & Packaging 0.4%** | **Containers & Packaging 0.4%** |
| Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 33735 | &nbsp;&nbsp;&nbsp;&nbsp; 1700919 |
| **Diversified Telecommunication Services 0.3%** | **Diversified Telecommunication Services 0.3%** | **Diversified Telecommunication Services 0.3%** |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 30493 | &nbsp;&nbsp;&nbsp;&nbsp; 1340167 |
| **Electric Utilities 1.4%** | **Electric Utilities 1.4%** | **Electric Utilities 1.4%** |
| NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 77605 | &nbsp;&nbsp;&nbsp;&nbsp; 5858402 |
| **Electrical Equipment 1.3%** | **Electrical Equipment 1.3%** | **Electrical Equipment 1.3%** |
| Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp; 8545 | &nbsp;&nbsp;&nbsp;&nbsp; 3197966 |
| GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901271 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5099237 |
| **Electronic Equipment, Instruments & Components 0.4%** | **Electronic Equipment, Instruments & Components 0.4%** | **Electronic Equipment, Instruments & Components 0.4%** |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496913 |
| **Energy Equipment & Services 0.6%** | **Energy Equipment & Services 0.6%** | **Energy Equipment & Services 0.6%** |
| Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419133 |
| **Entertainment 1.2%** | **Entertainment 1.2%** | **Entertainment 1.2%** |
| Liberty Media Corp.-Liberty Formula One, Class C (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690623 |
| Netflix, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4023576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4714199 |
| **Financial Services 3.0%** | **Financial Services 3.0%** | **Financial Services 3.0%** |
| Fiserv, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093197 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7190896 |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3788294 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12072387 |
| **Ground Transportation 1.1%** | **Ground Transportation 1.1%** | **Ground Transportation 1.1%** |
| Uber Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222743 |
| Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2090693 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4313436 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Equipment & Supplies 1.0%** | **Health Care Equipment & Supplies 1.0%** | **Health Care Equipment & Supplies 1.0%** |
| IDEXX Laboratories, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3689 | &nbsp;&nbsp;$2356865 |
| Intuitive Surgical, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3942 | &nbsp;&nbsp;&nbsp;&nbsp; 1762981 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4119846 |
| **Health Care Providers & Services 1.7%** | **Health Care Providers & Services 1.7%** | **Health Care Providers & Services 1.7%** |
| Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6094 | &nbsp;&nbsp;&nbsp;&nbsp; 1904558 |
| Cigna Group (The) | &nbsp;&nbsp;&nbsp;&nbsp; 9526 | &nbsp;&nbsp;&nbsp;&nbsp; 2745869 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6747 | &nbsp;&nbsp;&nbsp;&nbsp; 2329739 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6980166 |
| **Health Care REITs 0.6%** | **Health Care REITs 0.6%** | **Health Care REITs 0.6%** |
| Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13353 | &nbsp;&nbsp;&nbsp;&nbsp; 2378703 |
| **Hotels, Restaurants & Leisure 1.5%** | **Hotels, Restaurants & Leisure 1.5%** | **Hotels, Restaurants & Leisure 1.5%** |
| Airbnb, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5554 | &nbsp;&nbsp;&nbsp;&nbsp; 674367 |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 438 | &nbsp;&nbsp;&nbsp;&nbsp; 2364880 |
| Chipotle Mexican Grill, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 19967 | &nbsp;&nbsp;&nbsp;&nbsp; 782507 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 8902 | &nbsp;&nbsp;&nbsp;&nbsp; 2318437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6140191 |
| **Household Products 1.8%** | **Household Products 1.8%** | **Household Products 1.8%** |
| Church & Dwight Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817271 |
| Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256257 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4301893 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7375421 |
| **Industrial Conglomerates 0.6%** | **Industrial Conglomerates 0.6%** | **Industrial Conglomerates 0.6%** |
| Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2216776 |
| **Industrial REITs 0.9%** | **Industrial REITs 0.9%** | **Industrial REITs 0.9%** |
| Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3652157 |
| **Insurance 1.7%** | **Insurance 1.7%** | **Insurance 1.7%** |
| Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917558 |
| MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2896788 |
| Progressive Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946707 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6761053 |
| **Interactive Media & Services 7.4%** | **Interactive Media & Services 7.4%** | **Interactive Media & Services 7.4%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19262028 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10793183 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30055211 |
| **IT Services 1.7%** | **IT Services 1.7%** | **IT Services 1.7%** |
| International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5694835 |
| MongoDB, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202412 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6897247 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Life Sciences Tools & Services 1.8%** | **Life Sciences Tools & Services 1.8%** | **Life Sciences Tools & Services 1.8%** |
| Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11125 | &nbsp;&nbsp;$1427894 |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16692 | &nbsp;&nbsp;&nbsp;&nbsp; 3309356 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5074 | &nbsp;&nbsp;&nbsp;&nbsp; 2460991 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7198241 |
| **Machinery 2.6%** | **Machinery 2.6%** | **Machinery 2.6%** |
| Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7849 | &nbsp;&nbsp;&nbsp;&nbsp; 3315182 |
| Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 4157 | &nbsp;&nbsp;&nbsp;&nbsp; 1900830 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2731 | &nbsp;&nbsp;&nbsp;&nbsp; 2070508 |
| Xylem, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 23087 | &nbsp;&nbsp;&nbsp;&nbsp; 3405332 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10691852 |
| **Oil, Gas & Consumable Fuels 1.6%** | **Oil, Gas & Consumable Fuels 1.6%** | **Oil, Gas & Consumable Fuels 1.6%** |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13272 | &nbsp;&nbsp;&nbsp;&nbsp; 3118655 |
| Williams Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 54720 | &nbsp;&nbsp;&nbsp;&nbsp; 3466512 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6585167 |
| **Pharmaceuticals 2.4%** | **Pharmaceuticals 2.4%** | **Pharmaceuticals 2.4%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp; 22132 | &nbsp;&nbsp;&nbsp;&nbsp; 998153 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4523064 |
| Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607260 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2551967 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9680444 |
| **Professional Services 0.8%** | **Professional Services 0.8%** | **Professional Services 0.8%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3299527 |
| **Semiconductors & Semiconductor Equipment 14.1%** | **Semiconductors & Semiconductor Equipment 14.1%** | **Semiconductors & Semiconductor Equipment 14.1%** |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4837587 |
| Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207352 |
| ARM Holdings plc, ADR (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785269 |
| ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363972 |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14128066 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;179279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33449875 |
| Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355674 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57127795 |
| **Software 12.6%** | **Software 12.6%** | **Software 12.6%** |
| AppLovin Corp., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281364 |
| Cadence Design Systems, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4339466 |
| Crowdstrike Holdings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834021 |
| Dynatrace, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2010433 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33017241 |
| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1659948 |
| ServiceNow, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3297363 |
| Workday, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408263 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50848099 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Specialized REITs 0.9%** | **Specialized REITs 0.9%** | **Specialized REITs 0.9%** |
| Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4501 | &nbsp;&nbsp;$3525363 |
| **Specialty Retail 3.8%** | **Specialty Retail 3.8%** | **Specialty Retail 3.8%** |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 14661 | &nbsp;&nbsp;&nbsp;&nbsp; 5940491 |
| O'Reilly Automotive, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 24008 | &nbsp;&nbsp;&nbsp;&nbsp; 2588302 |
| TJX Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 29244 | &nbsp;&nbsp;&nbsp;&nbsp; 4226928 |
| Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp; 46329 | &nbsp;&nbsp;&nbsp;&nbsp; 2634730 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15390451 |
| **Technology Hardware, Storage & Peripherals 4.7%** | **Technology Hardware, Storage & Peripherals 4.7%** | **Technology Hardware, Storage & Peripherals 4.7%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 75162 | &nbsp;&nbsp;&nbsp;&nbsp; 19138500 |
| **Textiles, Apparel & Luxury Goods 0.3%** | **Textiles, Apparel & Luxury Goods 0.3%** | **Textiles, Apparel & Luxury Goods 0.3%** |
| Deckers Outdoor Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 12630 | &nbsp;&nbsp;&nbsp;&nbsp; 1280303 |
| **Trading Companies & Distributors 1.1%** | **Trading Companies & Distributors 1.1%** | **Trading Companies & Distributors 1.1%** |
| Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7866 | &nbsp;&nbsp;&nbsp;&nbsp; 1766546 |
| United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2703 | &nbsp;&nbsp;&nbsp;&nbsp; 2580446 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4346992 |
| Total Common Stocks<br> (Cost $284,989,182) |  | &nbsp;&nbsp;&nbsp;&nbsp;402638238 |
| **Exchange-Traded Fund 0.4%** | **Exchange-Traded Fund 0.4%** | **Exchange-Traded Fund 0.4%** |
| iShares Core S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642462 |
| Total Exchange-Traded Fund<br> (Cost $1,626,868) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642462 |
| **Short-Term Investment 0.2%** | **Short-Term Investment 0.2%** | **Short-Term Investment 0.2%** |
| **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;756137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756137 |
| Total Short-Term Investment<br> (Cost $756,137) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756137 |
| Total Investments<br> (Cost $287,372,187) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.1% | &nbsp;&nbsp;&nbsp;&nbsp;405036837 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241209) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$404795628 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | Current yield as of September 30, 2025. |

---

------

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$896 | &nbsp;&nbsp;$24698 | &nbsp;&nbsp;$(24838) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$756 | &nbsp;&nbsp;$24 | &nbsp;&nbsp;$— | &nbsp;&nbsp;756 |

---

#### Foreign Currency Forward Contracts
As of September 30, 2025, the Portfolio held the following foreign currency forward contracts<sup>1</sup>:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| USD | &nbsp;&nbsp;279913 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;236046 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;12/19/25 | $1511 |
| USD | &nbsp;&nbsp;279819 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;236046 | &nbsp;&nbsp;Goldman Sachs & Co LLC | &nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1418 |
| USD | &nbsp;&nbsp;36189 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;30680 | &nbsp;&nbsp;Goldman Sachs & Co LLC | &nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | &nbsp;&nbsp;279869 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;236046 | &nbsp;&nbsp;Morgan Stanley & Co. | &nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1468 |
| USD | &nbsp;&nbsp;279890 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;236046 | &nbsp;&nbsp;UBS AG, Stamford Branch | &nbsp;&nbsp;12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1488 |
| Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | Total Unrealized Appreciation | &nbsp;&nbsp;$5889 |

---

1. Foreign Currency Forward Contracts are subject to limitations such that they cannot be "sold or repurchased," although the Portfolio would be able to exit the transaction
through other means, such as through the execution of an offsetting transaction.

---

| |
|:---|
| Abbreviation(s): |
| ADR—American Depositary Receipt |
| ETF—Exchange-Traded Fund |
| EUR—Euro |
| REIT—Real Estate Investment Trust |
| USD—United States Dollar |

---

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; $55763823 | &nbsp;&nbsp; $1363972 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $57127795 |
| &nbsp;&nbsp;&nbsp;All Other Industries | &nbsp;&nbsp;&nbsp;&nbsp; 345510443 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 345510443 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;401274266 | &nbsp;&nbsp;&nbsp;&nbsp;1363972 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;402638238 |
| Exchange-Traded Fund | &nbsp;&nbsp;&nbsp;&nbsp; 1642462 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1642462 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 756137 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 756137 |
| Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;403672865 | &nbsp;&nbsp;&nbsp;&nbsp;1363972 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;405036837 |
| Other Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreign Currency Forward Contracts (b) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5889 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 5889 |
| Total Investments in Securities and Other Financial Instruments | &nbsp;&nbsp;$403672865 | &nbsp;&nbsp;$1369861 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$405042726 |

---

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

(b) The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments.

------

## NYLI VP Schroders Mid Cap Opportunities Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 96.7%** | **Common Stocks 96.7%** | **Common Stocks 96.7%** |
| **Aerospace & Defense 4.6%** | **Aerospace & Defense 4.6%** | **Aerospace & Defense 4.6%** |
| BWX Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 83909 | &nbsp;&nbsp;$15470302 |
| Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 224968 | &nbsp;&nbsp;&nbsp;&nbsp; 14105494 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29575796 |
| **Air Freight & Logistics 0.7%** | **Air Freight & Logistics 0.7%** | **Air Freight & Logistics 0.7%** |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 33691 | &nbsp;&nbsp;&nbsp;&nbsp; 4460688 |
| **Banks 2.8%** | **Banks 2.8%** | **Banks 2.8%** |
| East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 78885 | &nbsp;&nbsp;&nbsp;&nbsp; 8397308 |
| UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 83775 | &nbsp;&nbsp;&nbsp;&nbsp; 9914771 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18312079 |
| **Biotechnology 1.5%** | **Biotechnology 1.5%** | **Biotechnology 1.5%** |
| Exact Sciences Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 176983 | &nbsp;&nbsp;&nbsp;&nbsp; 9682740 |
| **Building Products 4.7%** | **Building Products 4.7%** | **Building Products 4.7%** |
| Advanced Drainage Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 85675 | &nbsp;&nbsp;&nbsp;&nbsp; 11883122 |
| Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 126284 | &nbsp;&nbsp;&nbsp;&nbsp; 8889131 |
| Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp; 22281 | &nbsp;&nbsp;&nbsp;&nbsp; 9401691 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30173944 |
| **Capital Markets 4.6%** | **Capital Markets 4.6%** | **Capital Markets 4.6%** |
| Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10760171 |
| Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7785328 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11362948 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29908447 |
| **Chemicals 0.6%** | **Chemicals 0.6%** | **Chemicals 0.6%** |
| Westlake Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677997 |
| **Commercial Services & Supplies 4.5%** | **Commercial Services & Supplies 4.5%** | **Commercial Services & Supplies 4.5%** |
| Rentokil Initial plc, Sponsored ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13925804 |
| Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6535726 |
| Waste Connections, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8761169 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29222699 |
| **Communications Equipment 2.0%** | **Communications Equipment 2.0%** | **Communications Equipment 2.0%** |
| Ciena Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13152253 |
| **Electric Utilities 1.4%** | **Electric Utilities 1.4%** | **Electric Utilities 1.4%** |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9158120 |
| **Electrical Equipment 1.6%** | **Electrical Equipment 1.6%** | **Electrical Equipment 1.6%** |
| Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10157847 |
| **Electronic Equipment, Instruments & Components 5.2%** | **Electronic Equipment, Instruments & Components 5.2%** | **Electronic Equipment, Instruments & Components 5.2%** |
| Coherent Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12676167 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Electronic Equipment, Instruments & Components** | **Electronic Equipment, Instruments & Components** | **Electronic Equipment, Instruments & Components** |
| Teledyne Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 20555 | &nbsp;&nbsp;$12046052 |
| Zebra Technologies Corp., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 30700 | &nbsp;&nbsp;&nbsp;&nbsp; 9122812 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33845031 |
| **Energy Equipment & Services 1.1%** | **Energy Equipment & Services 1.1%** | **Energy Equipment & Services 1.1%** |
| TechnipFMC plc | &nbsp;&nbsp;&nbsp;&nbsp; 186390 | &nbsp;&nbsp;&nbsp;&nbsp; 7353086 |
| **Entertainment 1.5%** | **Entertainment 1.5%** | **Entertainment 1.5%** |
| Take-Two Interactive Software, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 36710 | &nbsp;&nbsp;&nbsp;&nbsp; 9484396 |
| **Food Products 2.3%** | **Food Products 2.3%** | **Food Products 2.3%** |
| Hershey Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 45031 | &nbsp;&nbsp;&nbsp;&nbsp; 8423048 |
| McCormick & Co., Inc. (Non-Voting) | &nbsp;&nbsp;&nbsp;&nbsp; 99890 | &nbsp;&nbsp;&nbsp;&nbsp; 6683640 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15106688 |
| **Health Care Equipment & Supplies 3.2%** | **Health Care Equipment & Supplies 3.2%** | **Health Care Equipment & Supplies 3.2%** |
| Cooper Cos., Inc. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 117127 | &nbsp;&nbsp;&nbsp;&nbsp; 8030227 |
| Masimo Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 53249 | &nbsp;&nbsp;&nbsp;&nbsp; 7856890 |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 41624 | &nbsp;&nbsp;&nbsp;&nbsp; 5093113 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20980230 |
| **Health Care Providers & Services 1.4%** | **Health Care Providers & Services 1.4%** | **Health Care Providers & Services 1.4%** |
| Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8846816 |
| **Health Care REITs 1.5%** | **Health Care REITs 1.5%** | **Health Care REITs 1.5%** |
| Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9772704 |
| **Hotels, Restaurants & Leisure 5.5%** | **Hotels, Restaurants & Leisure 5.5%** | **Hotels, Restaurants & Leisure 5.5%** |
| Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17209382 |
| Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8585870 |
| Flutter Entertainment plc (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10096246 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35891498 |
| **Insurance 5.2%** | **Insurance 5.2%** | **Insurance 5.2%** |
| Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8999806 |
| Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12379340 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7669445 |
| Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4635328 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33683919 |
| **Interactive Media & Services 1.4%** | **Interactive Media & Services 1.4%** | **Interactive Media & Services 1.4%** |
| Match Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9027757 |
| **IT Services 6.1%** | **IT Services 6.1%** | **IT Services 6.1%** |
| Amdocs Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6403100 |
| EPAM Systems, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7698583 |
| Twilio, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14937031 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **IT Services** | **IT Services** | **IT Services** |
| VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38380 | &nbsp;&nbsp;$10729897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39768611 |
| **Life Sciences Tools & Services 2.1%** | **Life Sciences Tools & Services 2.1%** | **Life Sciences Tools & Services 2.1%** |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 51694 | &nbsp;&nbsp;&nbsp;&nbsp; 13560887 |
| **Machinery 3.0%** | **Machinery 3.0%** | **Machinery 3.0%** |
| Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 61963 | &nbsp;&nbsp;&nbsp;&nbsp; 10337287 |
| IDEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 57583 | &nbsp;&nbsp;&nbsp;&nbsp; 9372209 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19709496 |
| **Media 0.7%** | **Media 0.7%** | **Media 0.7%** |
| Trade Desk, Inc. (The), Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 96687 | &nbsp;&nbsp;&nbsp;&nbsp; 4738630 |
| **Multi-Utilities 3.2%** | **Multi-Utilities 3.2%** | **Multi-Utilities 3.2%** |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 114613 | &nbsp;&nbsp;&nbsp;&nbsp; 11963305 |
| CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 118722 | &nbsp;&nbsp;&nbsp;&nbsp; 8697574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20660879 |
| **Oil, Gas & Consumable Fuels 2.5%** | **Oil, Gas & Consumable Fuels 2.5%** | **Oil, Gas & Consumable Fuels 2.5%** |
| Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 310705 | &nbsp;&nbsp;&nbsp;&nbsp; 7348173 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8771744 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16119917 |
| **Personal Care Products 1.0%** | **Personal Care Products 1.0%** | **Personal Care Products 1.0%** |
| Estee Lauder Cos., Inc. (The), Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6325782 |
| **Professional Services 4.4%** | **Professional Services 4.4%** | **Professional Services 4.4%** |
| ExlService Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8503602 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10844981 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9276695 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28625278 |
| **Residential REITs 0.8%** | **Residential REITs 0.8%** | **Residential REITs 0.8%** |
| American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5021881 |
| **Retail REITs 1.4%** | **Retail REITs 1.4%** | **Retail REITs 1.4%** |
| Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8979198 |
| **Semiconductors & Semiconductor Equipment 3.1%** | **Semiconductors & Semiconductor Equipment 3.1%** | **Semiconductors & Semiconductor Equipment 3.1%** |
| Entegris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9098896 |
| Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11158779 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20257675 |
| **Software 2.9%** | **Software 2.9%** | **Software 2.9%** |
| Dolby Laboratories, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1282541 |
| Dynatrace, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6176115 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Software** | **Software** | **Software** |
| PTC, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 55965 | &nbsp;&nbsp;$11362015 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18820671 |
| **Specialized REITs 2.4%** | **Specialized REITs 2.4%** | **Specialized REITs 2.4%** |
| Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 66895 | &nbsp;&nbsp;&nbsp;&nbsp; 8189286 |
| SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 38826 | &nbsp;&nbsp;&nbsp;&nbsp; 7507007 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15696293 |
| **Specialty Retail 1.8%** | **Specialty Retail 1.8%** | **Specialty Retail 1.8%** |
| Burlington Stores, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 45243 | &nbsp;&nbsp;&nbsp;&nbsp; 11514343 |
| **Technology Hardware, Storage & Peripherals 2.1%** | **Technology Hardware, Storage & Peripherals 2.1%** | **Technology Hardware, Storage & Peripherals 2.1%** |
| Pure Storage, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 95226 | &nbsp;&nbsp;&nbsp;&nbsp; 7980891 |
| Sandisk Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 52483 | &nbsp;&nbsp;&nbsp;&nbsp; 5888593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13869484 |
| **Textiles, Apparel & Luxury Goods 1.9%** | **Textiles, Apparel & Luxury Goods 1.9%** | **Textiles, Apparel & Luxury Goods 1.9%** |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 38140 | &nbsp;&nbsp;&nbsp;&nbsp; 11959178 |
| Total Common Stocks<br> (Cost $577,957,041) |  | &nbsp;&nbsp;&nbsp;&nbsp;627102938 |
| **Short-Term Investment 3.2%** | **Short-Term Investment 3.2%** | **Short-Term Investment 3.2%** |
| **Affiliated Investment Company 3.2%** | **Affiliated Investment Company 3.2%** | **Affiliated Investment Company 3.2%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;20874991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20874991 |
| Total Short-Term Investment<br> (Cost $20,874,991) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20874991 |
| Total Investments<br> (Cost $598,832,032) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;647977929 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738696 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$648716625 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$15622 | &nbsp;&nbsp;$146287 | &nbsp;&nbsp;$(141034) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$20875 | &nbsp;&nbsp;$518 | &nbsp;&nbsp;$— | &nbsp;&nbsp;20875 |

---

------

Abbreviation(s): <br> ADR—American Depositary Receipt <br> REIT—Real Estate Investment Trust

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $627102938 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $627102938 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 20874991 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 20874991 |
| Total Investments in Securities | &nbsp;&nbsp;$647977929 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$647977929 |

---

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

------

## NYLI VP Winslow Large Cap Growth Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 98.4%** | **Common Stocks 98.4%** | **Common Stocks 98.4%** |
| **Aerospace & Defense 3.1%** | **Aerospace & Defense 3.1%** | **Aerospace & Defense 3.1%** |
| Axon Enterprise, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 29330 | &nbsp;&nbsp;$21048381 |
| GE Aerospace | &nbsp;&nbsp;&nbsp;&nbsp; 64432 | &nbsp;&nbsp;&nbsp;&nbsp; 19382434 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 107917 | &nbsp;&nbsp;&nbsp;&nbsp; 21176553 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61607368 |
| **Automobiles 2.7%** | **Automobiles 2.7%** | **Automobiles 2.7%** |
| Tesla, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 120421 | &nbsp;&nbsp;&nbsp;&nbsp; 53553627 |
| **Broadline Retail 6.9%** | **Broadline Retail 6.9%** | **Broadline Retail 6.9%** |
| Amazon.com, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 572086 | &nbsp;&nbsp;&nbsp;&nbsp; 125612923 |
| MercadoLibre, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4300 | &nbsp;&nbsp;&nbsp;&nbsp; 10048842 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135661765 |
| **Capital Markets 1.7%** | **Capital Markets 1.7%** | **Capital Markets 1.7%** |
| Ares Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 70330 | &nbsp;&nbsp;&nbsp;&nbsp; 11245064 |
| Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 47100 | &nbsp;&nbsp;&nbsp;&nbsp; 22442208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33687272 |
| **Chemicals 1.1%** | **Chemicals 1.1%** | **Chemicals 1.1%** |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 76070 | &nbsp;&nbsp;&nbsp;&nbsp; 20832530 |
| **Communications Equipment 1.5%** | **Communications Equipment 1.5%** | **Communications Equipment 1.5%** |
| Arista Networks, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28708221 |
| **Electrical Equipment 2.5%** | **Electrical Equipment 2.5%** | **Electrical Equipment 2.5%** |
| Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26762617 |
| Vertiv Holdings Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23161536 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49924153 |
| **Electronic Equipment, Instruments & Components 2.0%** | **Electronic Equipment, Instruments & Components 2.0%** | **Electronic Equipment, Instruments & Components 2.0%** |
| Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38560500 |
| **Entertainment 4.9%** | **Entertainment 4.9%** | **Entertainment 4.9%** |
| Netflix, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47330964 |
| Spotify Technology SA (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48682010 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96012974 |
| **Financial Services 4.9%** | **Financial Services 4.9%** | **Financial Services 4.9%** |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43197707 |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52466692 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95664399 |
| **Health Care Equipment & Supplies 2.2%** | **Health Care Equipment & Supplies 2.2%** | **Health Care Equipment & Supplies 2.2%** |
| Intuitive Surgical, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19363270 |
| Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24638506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44001776 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Hotels, Restaurants & Leisure 4.5%** | **Hotels, Restaurants & Leisure 4.5%** | **Hotels, Restaurants & Leisure 4.5%** |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5673 | &nbsp;&nbsp;$30630059 |
| DoorDash, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 144140 | &nbsp;&nbsp;&nbsp;&nbsp; 39204638 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 71938 | &nbsp;&nbsp;&nbsp;&nbsp; 18663595 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88498292 |
| **Interactive Media & Services 10.1%** | **Interactive Media & Services 10.1%** | **Interactive Media & Services 10.1%** |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 391900 | &nbsp;&nbsp;&nbsp;&nbsp; 95447245 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 139936 | &nbsp;&nbsp;&nbsp;&nbsp; 102766200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198213445 |
| **IT Services 4.6%** | **IT Services 4.6%** | **IT Services 4.6%** |
| Shopify, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 199664 | &nbsp;&nbsp;&nbsp;&nbsp; 29672067 |
| Snowflake, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 267196 | &nbsp;&nbsp;&nbsp;&nbsp; 60266058 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89938125 |
| **Pharmaceuticals 2.0%** | **Pharmaceuticals 2.0%** | **Pharmaceuticals 2.0%** |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 50051 | &nbsp;&nbsp;&nbsp;&nbsp; 38188913 |
| **Semiconductors & Semiconductor Equipment 17.0%** | **Semiconductors & Semiconductor Equipment 17.0%** | **Semiconductors & Semiconductor Equipment 17.0%** |
| Advanced Micro Devices, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 256550 | &nbsp;&nbsp;&nbsp;&nbsp; 41507224 |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103891958 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13558002 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173814943 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332772127 |
| **Software 20.5%** | **Software 20.5%** | **Software 20.5%** |
| Anthropic PBC (a)(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2869959 |
| Cadence Design Systems, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26098618 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41254593 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196013516 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70053228 |
| Palantir Technologies, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18426244 |
| ServiceNow, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46297447 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401013605 |
| **Specialty Retail 0.5%** | **Specialty Retail 0.5%** | **Specialty Retail 0.5%** |
| Carvana Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10279790 |
| **Technology Hardware, Storage & Peripherals 5.7%** | **Technology Hardware, Storage & Peripherals 5.7%** | **Technology Hardware, Storage & Peripherals 5.7%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112647548 |
| Total Common Stocks<br> (Cost $1,310,811,313) |  | &nbsp;&nbsp;&nbsp;&nbsp;1929766430 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investment 1.5%** | **Short-Term Investment 1.5%** | **Short-Term Investment 1.5%** |
| **Affiliated Investment Company 1.5%** | **Affiliated Investment Company 1.5%** | **Affiliated Investment Company 1.5%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (c) | &nbsp;&nbsp;&nbsp;&nbsp;29102380 | &nbsp;&nbsp;$29102380 |
| Total Short-Term Investment<br> (Cost $29,102,380) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29102380 |
| Total Investments<br> (Cost $1,339,913,693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;1958868810 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215857 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1960084667 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | Illiquid security—As of September 30, 2025, the total market value deemed illiquid under procedures approved by the Board of Trustees was $2,869,959, which represented 0.1% of the Portfolio's net assets. |
| (c) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$16221 | &nbsp;&nbsp;$425103 | &nbsp;&nbsp;$(412222) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$29102 | &nbsp;&nbsp;$444 | &nbsp;&nbsp;$— | &nbsp;&nbsp;29102 |

---

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $1926896471 | &nbsp;&nbsp;$— | &nbsp;&nbsp; $2869959 | &nbsp;&nbsp; $1929766430 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 29102380 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 29102380 |
| Total Investments in Securities | &nbsp;&nbsp;$1955998851 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2869959 | &nbsp;&nbsp;$1958868810 |

---

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

------

## NYLI VP MFS<sup>®</sup> Research Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 99.6%** | **Common Stocks 99.6%** | **Common Stocks 99.6%** |
| **Aerospace & Defense 3.0%** | **Aerospace & Defense 3.0%** | **Aerospace & Defense 3.0%** |
| General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7147 | &nbsp;&nbsp;$2437127 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14402 | &nbsp;&nbsp;&nbsp;&nbsp; 2826104 |
| RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 28915 | &nbsp;&nbsp;&nbsp;&nbsp; 4838347 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10101578 |
| **Automobile Components 0.6%** | **Automobile Components 0.6%** | **Automobile Components 0.6%** |
| Aptiv plc (a) | &nbsp;&nbsp;&nbsp;&nbsp; 23346 | &nbsp;&nbsp;&nbsp;&nbsp; 2012892 |
| **Banks 3.6%** | **Banks 3.6%** | **Banks 3.6%** |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 28497 | &nbsp;&nbsp;&nbsp;&nbsp; 8988809 |
| PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 16908 | &nbsp;&nbsp;&nbsp;&nbsp; 3397324 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12386133 |
| **Beverages 0.7%** | **Beverages 0.7%** | **Beverages 0.7%** |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 17606 | &nbsp;&nbsp;&nbsp;&nbsp; 2472587 |
| **Biotechnology 1.5%** | **Biotechnology 1.5%** | **Biotechnology 1.5%** |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19764 | &nbsp;&nbsp;&nbsp;&nbsp; 4576156 |
| Vertex Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1109 | &nbsp;&nbsp;&nbsp;&nbsp; 434329 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5010485 |
| **Broadline Retail 4.7%** | **Broadline Retail 4.7%** | **Broadline Retail 4.7%** |
| Amazon.com, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15986453 |
| **Building Products 0.6%** | **Building Products 0.6%** | **Building Products 0.6%** |
| Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2145667 |
| **Capital Markets 3.9%** | **Capital Markets 3.9%** | **Capital Markets 3.9%** |
| Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408565 |
| CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163385 |
| KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710402 |
| Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982633 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3167437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13432422 |
| **Chemicals 1.4%** | **Chemicals 1.4%** | **Chemicals 1.4%** |
| Air Products and Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1894859 |
| Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128339 |
| Sherwin-Williams Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750344 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4773542 |
| **Communications Equipment 0.9%** | **Communications Equipment 0.9%** | **Communications Equipment 0.9%** |
| Arista Networks, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2937951 |
| **Construction Materials 0.9%** | **Construction Materials 0.9%** | **Construction Materials 0.9%** |
| CRH plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072198 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Consumer Staples Distribution & Retail 1.1%** | **Consumer Staples Distribution & Retail 1.1%** | **Consumer Staples Distribution & Retail 1.1%** |
| BJ's Wholesale Club Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 22583 | &nbsp;&nbsp;$2105865 |
| U.S. Foods Holding Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 21744 | &nbsp;&nbsp;&nbsp;&nbsp; 1666025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3771890 |
| **Electric Utilities 2.0%** | **Electric Utilities 2.0%** | **Electric Utilities 2.0%** |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 25037 | &nbsp;&nbsp;&nbsp;&nbsp; 1687744 |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16433 | &nbsp;&nbsp;&nbsp;&nbsp; 2033584 |
| PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 103243 | &nbsp;&nbsp;&nbsp;&nbsp; 1556904 |
| PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 41457 | &nbsp;&nbsp;&nbsp;&nbsp; 1540542 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6818774 |
| **Electrical Equipment 2.1%** | **Electrical Equipment 2.1%** | **Electrical Equipment 2.1%** |
| Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp; 7746 | &nbsp;&nbsp;&nbsp;&nbsp; 2898941 |
| Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp; 21785 | &nbsp;&nbsp;&nbsp;&nbsp; 2857756 |
| Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 10041 | &nbsp;&nbsp;&nbsp;&nbsp; 1440281 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7196978 |
| **Electronic Equipment, Instruments & Components 0.6%** | **Electronic Equipment, Instruments & Components 0.6%** | **Electronic Equipment, Instruments & Components 0.6%** |
| Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 16280 | &nbsp;&nbsp;&nbsp;&nbsp; 2014650 |
| **Energy Equipment & Services 0.3%** | **Energy Equipment & Services 0.3%** | **Energy Equipment & Services 0.3%** |
| TechnipFMC plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851647 |
| **Entertainment 1.1%** | **Entertainment 1.1%** | **Entertainment 1.1%** |
| Spotify Technology SA (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855752 |
| **Financial Services 2.8%** | **Financial Services 2.8%** | **Financial Services 2.8%** |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9671476 |
| **Food Products 0.4%** | **Food Products 0.4%** | **Food Products 0.4%** |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421068 |
| **Ground Transportation 1.0%** | **Ground Transportation 1.0%** | **Ground Transportation 1.0%** |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188209 |
| Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2239606 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3427815 |
| **Health Care Equipment & Supplies 2.9%** | **Health Care Equipment & Supplies 2.9%** | **Health Care Equipment & Supplies 2.9%** |
| Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250532 |
| Boston Scientific Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217568 |
| Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3299304 |
| STERIS plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144810 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9912214 |
| **Health Care Providers & Services 1.7%** | **Health Care Providers & Services 1.7%** | **Health Care Providers & Services 1.7%** |
| Cigna Group (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564272 |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095316 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Health Care Providers & Services** | **Health Care Providers & Services** | **Health Care Providers & Services** |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2682 | &nbsp;&nbsp;$2071952 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5731540 |
| **Hotels, Restaurants & Leisure 3.1%** | **Hotels, Restaurants & Leisure 3.1%** | **Hotels, Restaurants & Leisure 3.1%** |
| Aramark | &nbsp;&nbsp;&nbsp;&nbsp; 80369 | &nbsp;&nbsp;&nbsp;&nbsp; 3086169 |
| Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 514 | &nbsp;&nbsp;&nbsp;&nbsp; 2775225 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8515 | &nbsp;&nbsp;&nbsp;&nbsp; 2209132 |
| Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16963 | &nbsp;&nbsp;&nbsp;&nbsp; 1435070 |
| Viking Holdings Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 15044 | &nbsp;&nbsp;&nbsp;&nbsp; 935136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10440732 |
| **Household Durables 0.4%** | **Household Durables 0.4%** | **Household Durables 0.4%** |
| PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10097 | &nbsp;&nbsp;&nbsp;&nbsp; 1334117 |
| **Household Products 0.5%** | **Household Products 0.5%** | **Household Products 0.5%** |
| Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp; 20510 | &nbsp;&nbsp;&nbsp;&nbsp; 1639569 |
| **Independent Power and Renewable Electricity Producers 0.4%** | **Independent Power and Renewable Electricity Producers 0.4%** | **Independent Power and Renewable Electricity Producers 0.4%** |
| Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6399 | &nbsp;&nbsp;&nbsp;&nbsp; 1253692 |
| **Insurance 3.0%** | **Insurance 3.0%** | **Insurance 3.0%** |
| American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1606850 |
| Aon plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2888655 |
| Chubb Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2905481 |
| Willis Towers Watson plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958779 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10359765 |
| **Interactive Media & Services 7.6%** | **Interactive Media & Services 7.6%** | **Interactive Media & Services 7.6%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12048765 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13666812 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25715577 |
| **IT Services 2.1%** | **IT Services 2.1%** | **IT Services 2.1%** |
| Accenture plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3446728 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467357 |
| Okta, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2214097 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7128182 |
| **Life Sciences Tools & Services 1.5%** | **Life Sciences Tools & Services 1.5%** | **Life Sciences Tools & Services 1.5%** |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2574971 |
| Waters Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640427 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5215398 |
| **Machinery 1.6%** | **Machinery 1.6%** | **Machinery 1.6%** |
| Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3168753 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330777 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5499530 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Media 0.8%** | **Media 0.8%** | **Media 0.8%** |
| Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 35242 | &nbsp;&nbsp;$2873280 |
| **Oil, Gas & Consumable Fuels 2.8%** | **Oil, Gas & Consumable Fuels 2.8%** | **Oil, Gas & Consumable Fuels 2.8%** |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3787 | &nbsp;&nbsp;&nbsp;&nbsp; 889869 |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7343 | &nbsp;&nbsp;&nbsp;&nbsp; 1140294 |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp; 29203 | &nbsp;&nbsp;&nbsp;&nbsp; 2762312 |
| Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 31791 | &nbsp;&nbsp;&nbsp;&nbsp; 3584435 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7476 | &nbsp;&nbsp;&nbsp;&nbsp; 1272864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9649774 |
| **Personal Care Products 0.6%** | **Personal Care Products 0.6%** | **Personal Care Products 0.6%** |
| Estee Lauder Cos., Inc. (The), Class A | &nbsp;&nbsp;&nbsp;&nbsp; 10644 | &nbsp;&nbsp;&nbsp;&nbsp; 937949 |
| Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 72313 | &nbsp;&nbsp;&nbsp;&nbsp; 1173640 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2111589 |
| **Pharmaceuticals 2.0%** | **Pharmaceuticals 2.0%** | **Pharmaceuticals 2.0%** |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp; 25718 | &nbsp;&nbsp;&nbsp;&nbsp; 4768632 |
| Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 78976 | &nbsp;&nbsp;&nbsp;&nbsp; 2012308 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6780940 |
| **Professional Services 0.7%** | **Professional Services 0.7%** | **Professional Services 0.7%** |
| TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2239858 |
| **Semiconductors & Semiconductor Equipment 12.6%** | **Semiconductors & Semiconductor Equipment 12.6%** | **Semiconductors & Semiconductor Equipment 12.6%** |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11689041 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4207674 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25066277 |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796334 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42759326 |
| **Software 12.7%** | **Software 12.7%** | **Software 12.7%** |
| Atlassian Corp., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695216 |
| Autodesk, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014346 |
| Cadence Design Systems, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3422677 |
| Constellation Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848677 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28727579 |
| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3322740 |
| Tyler Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2171114 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43202349 |
| **Specialized REITs 0.8%** | **Specialized REITs 0.8%** | **Specialized REITs 0.8%** |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793063 |
| **Specialty Retail 1.5%** | **Specialty Retail 1.5%** | **Specialty Retail 1.5%** |
| Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2847676 |
| TJX Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284888 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5132564 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Technology Hardware, Storage & Peripherals 5.8%** | **Technology Hardware, Storage & Peripherals 5.8%** | **Technology Hardware, Storage & Peripherals 5.8%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 78209 | &nbsp;&nbsp;$19914358 |
| **Tobacco 0.8%** | **Tobacco 0.8%** | **Tobacco 0.8%** |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 17426 | &nbsp;&nbsp;&nbsp;&nbsp; 2826497 |
| **Trading Companies & Distributors 0.5%** | **Trading Companies & Distributors 0.5%** | **Trading Companies & Distributors 0.5%** |
| Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7013 | &nbsp;&nbsp;&nbsp;&nbsp; 1574979 |
| Total Common Stocks<br> (Cost $310,388,466) |  | &nbsp;&nbsp;&nbsp;&nbsp;339450851 |
| **Short-Term Investment 0.3%** | **Short-Term Investment 0.3%** | **Short-Term Investment 0.3%** |
| **Affiliated Investment Company 0.3%** | **Affiliated Investment Company 0.3%** | **Affiliated Investment Company 0.3%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;1037926 | &nbsp;&nbsp;&nbsp;&nbsp; 1037926 |
| Total Short-Term Investment<br> (Cost $1,037,926) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037926 |
| Total Investments<br> (Cost $311,426,392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;340488777 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305384 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$340794161 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio for the period February 10, 2025 (commencement of operations) through September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$— | &nbsp;&nbsp;$67783 | &nbsp;&nbsp;$(66745) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1038 | &nbsp;&nbsp;$62 | &nbsp;&nbsp;$— | &nbsp;&nbsp;1038 |

---

Abbreviation(s): <br> REIT—Real Estate Investment Trust

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $339450851 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp; $339450851 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 1037926 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 1037926 |
| Total Investments in Securities | &nbsp;&nbsp;$340488777 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$340488777 |

---

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

------

## NYLI VP MFS<sup>®</sup> Investors Trust Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 99.0%** | **Common Stocks 99.0%** | **Common Stocks 99.0%** |
| **Aerospace & Defense 2.8%** | **Aerospace & Defense 2.8%** | **Aerospace & Defense 2.8%** |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 32747 | &nbsp;&nbsp;$6425944 |
| RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 40419 | &nbsp;&nbsp;&nbsp;&nbsp; 6763311 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13189255 |
| **Banks 3.4%** | **Banks 3.4%** | **Banks 3.4%** |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 57244 | &nbsp;&nbsp;&nbsp;&nbsp; 2953218 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 41733 | &nbsp;&nbsp;&nbsp;&nbsp; 13163840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16117058 |
| **Beverages 0.7%** | **Beverages 0.7%** | **Beverages 0.7%** |
| Diageo plc | &nbsp;&nbsp;&nbsp;&nbsp;130864 | &nbsp;&nbsp;&nbsp;&nbsp; 3115325 |
| **Biotechnology 0.8%** | **Biotechnology 0.8%** | **Biotechnology 0.8%** |
| Vertex Pharmaceuticals, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9276 | &nbsp;&nbsp;&nbsp;&nbsp; 3632853 |
| **Broadline Retail 4.6%** | **Broadline Retail 4.6%** | **Broadline Retail 4.6%** |
| Amazon.com, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 99064 | &nbsp;&nbsp;&nbsp;&nbsp; 21751482 |
| **Building Products 1.3%** | **Building Products 1.3%** | **Building Products 1.3%** |
| Allegion plc | &nbsp;&nbsp;&nbsp;&nbsp; 33935 | &nbsp;&nbsp;&nbsp;&nbsp; 6018372 |
| **Capital Markets 3.9%** | **Capital Markets 3.9%** | **Capital Markets 3.9%** |
| CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6707196 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7753264 |
| Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3637506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18097966 |
| **Chemicals 1.1%** | **Chemicals 1.1%** | **Chemicals 1.1%** |
| Linde plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5021225 |
| **Commercial Services & Supplies 1.3%** | **Commercial Services & Supplies 1.3%** | **Commercial Services & Supplies 1.3%** |
| Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2956295 |
| Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3273805 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6230100 |
| **Communications Equipment 0.9%** | **Communications Equipment 0.9%** | **Communications Equipment 0.9%** |
| Arista Networks, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4026550 |
| **Consumer Staples Distribution & Retail 1.7%** | **Consumer Staples Distribution & Retail 1.7%** | **Consumer Staples Distribution & Retail 1.7%** |
| BJ's Wholesale Club Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2102601 |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5842577 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7945178 |
| **Electric Utilities 3.2%** | **Electric Utilities 3.2%** | **Electric Utilities 3.2%** |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3960135 |
| Southern Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4067813 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Electric Utilities** | **Electric Utilities** | **Electric Utilities** |
| Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 88378 | &nbsp;&nbsp;$7127686 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15155634 |
| **Electrical Equipment 4.5%** | **Electrical Equipment 4.5%** | **Electrical Equipment 4.5%** |
| AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15592 | &nbsp;&nbsp;&nbsp;&nbsp; 2931296 |
| Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp; 23082 | &nbsp;&nbsp;&nbsp;&nbsp; 8638438 |
| Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp; 44235 | &nbsp;&nbsp;&nbsp;&nbsp; 5802747 |
| Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8328 | &nbsp;&nbsp;&nbsp;&nbsp; 3583622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20956103 |
| **Electronic Equipment, Instruments & Components 2.3%** | **Electronic Equipment, Instruments & Components 2.3%** | **Electronic Equipment, Instruments & Components 2.3%** |
| Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 34677 | &nbsp;&nbsp;&nbsp;&nbsp; 4291279 |
| TE Connectivity plc | &nbsp;&nbsp;&nbsp;&nbsp; 29129 | &nbsp;&nbsp;&nbsp;&nbsp; 6394689 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10685968 |
| **Financial Services 5.0%** | **Financial Services 5.0%** | **Financial Services 5.0%** |
| Fiserv, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 42477 | &nbsp;&nbsp;&nbsp;&nbsp; 5476560 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15495 | &nbsp;&nbsp;&nbsp;&nbsp; 8813711 |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 26985 | &nbsp;&nbsp;&nbsp;&nbsp; 9212139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23502410 |
| **Health Care Equipment & Supplies 4.8%** | **Health Care Equipment & Supplies 4.8%** | **Health Care Equipment & Supplies 4.8%** |
| Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5030117 |
| Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4072632 |
| Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7267859 |
| STERIS plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6213961 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22584569 |
| **Health Care Providers & Services 1.1%** | **Health Care Providers & Services 1.1%** | **Health Care Providers & Services 1.1%** |
| Cigna Group (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200895 |
| **Hotels, Restaurants & Leisure 0.9%** | **Hotels, Restaurants & Leisure 0.9%** | **Hotels, Restaurants & Leisure 0.9%** |
| Aramark | &nbsp;&nbsp;&nbsp;&nbsp;114942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4413773 |
| **Household Products 2.3%** | **Household Products 2.3%** | **Household Products 2.3%** |
| Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440857 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7123675 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10564532 |
| **Insurance 4.1%** | **Insurance 4.1%** | **Insurance 4.1%** |
| Aon plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6542173 |
| Chubb Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6113253 |
| Willis Towers Watson plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6432970 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19088396 |
| **Interactive Media & Services 8.5%** | **Interactive Media & Services 8.5%** | **Interactive Media & Services 8.5%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21470592 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18106139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39576731 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **IT Services 0.5%** | **IT Services 0.5%** | **IT Services 0.5%** |
| EPAM Systems, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 14890 | &nbsp;&nbsp;$2245263 |
| **Life Sciences Tools & Services 2.1%** | **Life Sciences Tools & Services 2.1%** | **Life Sciences Tools & Services 2.1%** |
| Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 39297 | &nbsp;&nbsp;&nbsp;&nbsp; 5043770 |
| ICON plc (a) | &nbsp;&nbsp;&nbsp;&nbsp; 12358 | &nbsp;&nbsp;&nbsp;&nbsp; 2162650 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5261 | &nbsp;&nbsp;&nbsp;&nbsp; 2551690 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9758110 |
| **Machinery 0.8%** | **Machinery 0.8%** | **Machinery 0.8%** |
| Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 33761 | &nbsp;&nbsp;&nbsp;&nbsp; 3086768 |
| Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4546 | &nbsp;&nbsp;&nbsp;&nbsp; 911337 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3998105 |
| **Oil, Gas & Consumable Fuels 2.6%** | **Oil, Gas & Consumable Fuels 2.6%** | **Oil, Gas & Consumable Fuels 2.6%** |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp; 69131 | &nbsp;&nbsp;&nbsp;&nbsp; 6539101 |
| Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 48057 | &nbsp;&nbsp;&nbsp;&nbsp; 5418427 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11957528 |
| **Personal Care Products 0.5%** | **Personal Care Products 0.5%** | **Personal Care Products 0.5%** |
| Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;156402 | &nbsp;&nbsp;&nbsp;&nbsp; 2538404 |
| **Pharmaceuticals 1.8%** | **Pharmaceuticals 1.8%** | **Pharmaceuticals 1.8%** |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6209345 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015265 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8224610 |
| **Professional Services 0.4%** | **Professional Services 0.4%** | **Professional Services 0.4%** |
| TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958525 |
| **Semiconductors & Semiconductor Equipment 11.2%** | **Semiconductors & Semiconductor Equipment 11.2%** | **Semiconductors & Semiconductor Equipment 11.2%** |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5347660 |
| KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4552771 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7464122 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;171692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32034293 |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001781 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52400627 |
| **Software 11.5%** | **Software 11.5%** | **Software 11.5%** |
| Check Point Software Technologies Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6846445 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39906494 |
| Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6916845 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53669784 |
| **Specialized REITs 1.0%** | **Specialized REITs 1.0%** | **Specialized REITs 1.0%** |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4534136 |
| **Specialty Retail 0.7%** | **Specialty Retail 0.7%** | **Specialty Retail 0.7%** |
| TJX Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3199827 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Technology Hardware, Storage & Peripherals 6.0%** | **Technology Hardware, Storage & Peripherals 6.0%** | **Technology Hardware, Storage & Peripherals 6.0%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;111077 | &nbsp;&nbsp;$28283537 |
| **Textiles, Apparel & Luxury Goods 0.7%** | **Textiles, Apparel & Luxury Goods 0.7%** | **Textiles, Apparel & Luxury Goods 0.7%** |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp; 5225 | &nbsp;&nbsp;&nbsp;&nbsp; 3197093 |
| Total Common Stocks<br> (Cost $427,098,059) |  | &nbsp;&nbsp;&nbsp;&nbsp;462839924 |
| **Short-Term Investment 0.2%** | **Short-Term Investment 0.2%** | **Short-Term Investment 0.2%** |
| **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** | **Affiliated Investment Company 0.2%** |
| NYLI U.S. Government Liquidity Fund, 4.027% (b) | &nbsp;&nbsp;&nbsp;&nbsp;780039 | &nbsp;&nbsp;&nbsp;&nbsp; 780039 |
| Total Short-Term Investment<br> (Cost $780,039) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780039 |
| Total Investments<br> (Cost $427,878,098) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.2% | &nbsp;&nbsp;&nbsp;&nbsp;463619963 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3938547 |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$467558510 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| (a) | Non-income producing security. |
| (b) | Current yield as of September 30, 2025. |

---

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio for the period February 10, 2025 (commencement of operations) through September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$— | &nbsp;&nbsp;$74592 | &nbsp;&nbsp;$(73812) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$780 | &nbsp;&nbsp;$88 | &nbsp;&nbsp;$— | &nbsp;&nbsp;780 |

---

Abbreviation(s): <br> REIT—Real Estate Investment Trust

------

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $3115325 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp; $3115325 |
| &nbsp;&nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3197093 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 3197093 |
| &nbsp;&nbsp;&nbsp;All Other Industries | &nbsp;&nbsp;&nbsp;&nbsp; 456527506 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 456527506 |
| Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;456527506 | &nbsp;&nbsp;&nbsp;&nbsp;6312418 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;462839924 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 780039 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 780039 |
| Total Investments in Securities | &nbsp;&nbsp;$457307545 | &nbsp;&nbsp;$6312418 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$463619963 |

---

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

------

## NYLI VP Newton Technology Growth Portfolio<br>

## Portfolio of Investments September 30, 2025<sup>†</sup><sup>^</sup>(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 98.5%** | **Common Stocks 98.5%** | **Common Stocks 98.5%** |
| **Aerospace & Defense 2.1%** | **Aerospace & Defense 2.1%** | **Aerospace & Defense 2.1%** |
| Axon Enterprise, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 40067 | &nbsp;&nbsp;$28753682 |
| **Broadline Retail 10.7%** | **Broadline Retail 10.7%** | **Broadline Retail 10.7%** |
| Alibaba Group Holding Ltd., Sponsored ADR | &nbsp;&nbsp;&nbsp;&nbsp; 270537 | &nbsp;&nbsp;&nbsp;&nbsp; 48353078 |
| Amazon.com, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 258833 | &nbsp;&nbsp;&nbsp;&nbsp; 56831962 |
| MercadoLibre, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5294 | &nbsp;&nbsp;&nbsp;&nbsp; 12371760 |
| PDD Holdings, Inc., ADR (a) | &nbsp;&nbsp;&nbsp;&nbsp; 197446 | &nbsp;&nbsp;&nbsp;&nbsp; 26096438 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143653238 |
| **Entertainment 5.5%** | **Entertainment 5.5%** | **Entertainment 5.5%** |
| Netflix, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 48237 | &nbsp;&nbsp;&nbsp;&nbsp; 57832304 |
| Spotify Technology SA (a) | &nbsp;&nbsp;&nbsp;&nbsp; 21999 | &nbsp;&nbsp;&nbsp;&nbsp; 15355302 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73187606 |
| **Financial Services 1.2%** | **Financial Services 1.2%** | **Financial Services 1.2%** |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 27207 | &nbsp;&nbsp;&nbsp;&nbsp; 15475614 |
| **Interactive Media & Services 9.5%** | **Interactive Media & Services 9.5%** | **Interactive Media & Services 9.5%** |
| Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 167905 | &nbsp;&nbsp;&nbsp;&nbsp; 40893263 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 80537 | &nbsp;&nbsp;&nbsp;&nbsp; 59144762 |
| Tencent Holdings Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27258644 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127296669 |
| **IT Services 5.8%** | **IT Services 5.8%** | **IT Services 5.8%** |
| MongoDB, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26363677 |
| Shopify, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50926864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77290541 |
| **Real Estate Management & Development 1.8%** | **Real Estate Management & Development 1.8%** | **Real Estate Management & Development 1.8%** |
| CoStar Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24740996 |
| **Semiconductors & Semiconductor Equipment 33.8%** | **Semiconductors & Semiconductor Equipment 33.8%** | **Semiconductors & Semiconductor Equipment 33.8%** |
| Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25127126 |
| ASML Holding NV (Registered), ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17878686 |
| Intel Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;1467147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49222782 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50639909 |
| Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70556836 |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97056863 |
| QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30506099 |
| Synaptics, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17089374 |
| Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94984574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453062249 |
| **Software 25.5%** | **Software 25.5%** | **Software 25.5%** |
| Datadog, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16144885 |
| HubSpot, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23698280 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53185714 |
| JFrog Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22913258 |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Software** | **Software** | **Software** |
| Klaviyo, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 652005 | &nbsp;&nbsp;$18054019 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 132473 | &nbsp;&nbsp;&nbsp;&nbsp; 68614390 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 267881 | &nbsp;&nbsp;&nbsp;&nbsp; 75338852 |
| ServiceNow, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 47429 | &nbsp;&nbsp;&nbsp;&nbsp; 43647960 |
| Synopsys, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 42524 | &nbsp;&nbsp;&nbsp;&nbsp; 20980916 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342578274 |
| **Technology Hardware, Storage & Peripherals 2.6%** | **Technology Hardware, Storage & Peripherals 2.6%** | **Technology Hardware, Storage & Peripherals 2.6%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 137591 | &nbsp;&nbsp;&nbsp;&nbsp; 35034796 |
| Total Common Stocks<br> (Cost $1,113,538,351) |  | &nbsp;&nbsp;&nbsp;&nbsp;1321073665 |
| **Preferred Stocks 1.5%** | **Preferred Stocks 1.5%** | **Preferred Stocks 1.5%** |
| **Broadline Retail 0.1%** | **Broadline Retail 0.1%** | **Broadline Retail 0.1%** |
| Roofstock, Inc.<br> Series E (a)(b)(c) | &nbsp;&nbsp;&nbsp;&nbsp; 73422 | &nbsp;&nbsp;&nbsp;&nbsp; 435392 |
| **Software 1.4%** | **Software 1.4%** | **Software 1.4%** |
| Databricks, Inc. (a)(b)(c) |  |  |
| &nbsp;&nbsp;&nbsp;Series H | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9708226 |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835597 |
| &nbsp;&nbsp;&nbsp;Series J | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8607702 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19151525 |
| Total Preferred Stocks<br> (Cost $12,534,986) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19586917 |
| **Short-Term Investment 0.0% ‡** | **Short-Term Investment 0.0% ‡** | **Short-Term Investment 0.0% ‡** |
| **Affiliated Investment Company 0.0% ‡** | **Affiliated Investment Company 0.0% ‡** | **Affiliated Investment Company 0.0% ‡** |
| NYLI U.S. Government Liquidity Fund, 4.027% (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526909 |
| Total Short-Term Investment<br> (Cost $526,909) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526909 |
| Total Investments<br> (Cost $1,126,600,246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;1341187491 |
| Other Assets, Less Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0)‡ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(113992) |
| Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1341073499 |

---

---

| | |
|:---|:---|
| † | Percentages indicated are based on Portfolio net assets. |
| ^ | Industry classifications may be different than those used for compliance monitoring purposes. |
| ‡ | Less than one-tenth of a percent. |
| (a) | Non-income producing security. |
| (b) | Illiquid security—As of September 30, 2025, the total market value deemed illiquid under procedures approved by the Board of Trustees was $19,586,917, which represented 1.5% of the Portfolio's net assets. |

---

------

(c) Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(d) Current yield as of September 30, 2025.

#### Investments in Affiliates (in 000's)
Investments in issuers considered to be affiliate(s) of the Portfolio for the period February 10, 2025 (commencement of operations) through September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Affiliated Investment Companies** | &nbsp;&nbsp;**Value,<br> Beginning<br> of Period** | &nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;**Proceeds<br> from<br> Sales** | &nbsp;&nbsp;**Net<br> Realized<br> Gain/(Loss)<br> on Sales** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value,<br> End of<br> Period** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Other<br> Distributions** | &nbsp;&nbsp;**Shares<br> End of<br> Period** |
| NYLI U.S. Government Liquidity Fund | &nbsp;&nbsp;$— | &nbsp;&nbsp;$151853 | &nbsp;&nbsp;$(151326) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$527 | &nbsp;&nbsp;$373 | &nbsp;&nbsp;$— | &nbsp;&nbsp;527 |

---

Abbreviation(s): <br> ADR—American Depositary Receipt

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025, for valuing the Portfolio's assets:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Quoted<br> Prices in<br> Active<br> Markets for<br> Identical<br> Assets<br> (Level 1)** | &nbsp;&nbsp;**Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | &nbsp;&nbsp;**Significant<br> Unobservable<br> Inputs<br> (Level 3)** | &nbsp;&nbsp;**Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities (a) |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $1321073665 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $1321073665 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 19586917 | &nbsp;&nbsp;&nbsp;&nbsp; 19586917 |
| Short-Term Investment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investment Company | &nbsp;&nbsp;&nbsp;&nbsp; 526909 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 526909 |
| Total Investments in Securities | &nbsp;&nbsp;$1321600574 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$19586917 | &nbsp;&nbsp;$1341187491 |

---

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

------

## New York Life Investments VP Funds Trust

## Notes to Portfolios of Investments September 30, 2025 (Unaudited)

#### Securities Valuation.
Investments are usually valued as of the close of regular trading on the New York Stock Exchange (the "Exchange") (usually 4:00 p.m. Eastern time) on each day the Portfolios are open for business ("valuation date").

Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees of the New York Life Investments VP Funds Trust (the "Board") has designated New York Life Investment Management LLC ("New York Life Investments" or the "Manager") as its Valuation Designee (the "Valuation Designee"). The Valuation Designee is responsible for performing fair valuations relating to all investments in the Portfolio's portfolio for which market quotations are not readily available; periodically assessing and managing material valuation risks; establishing and applying fair value methodologies; testing fair valuation methodologies; evaluating and overseeing pricing services; ensuring appropriate segregation of valuation and portfolio management functions; providing quarterly, annual and prompt reporting to the Board, as appropriate; identifying potential conflicts of interest; and maintaining appropriate records. The Valuation Designee has established a valuation committee ("Valuation Committee") to assist in carrying out the Valuation Designee's responsibilities and establish prices of securities for which market quotations are not readily available. The Portfolio's and the Valuation Designee's policies and procedures ("Valuation Procedures") govern the Valuation Designee's selection and application of methodologies for determining and calculating the fair value of Portfolio investments. The Valuation Designee may value the Portfolio's portfolio securities for which market quotations are not readily available and other Portfolio assets utilizing inputs from pricing services and other third-party sources. The Valuation Committee meets (in person, via electronic mail or via teleconference) on an ad-hoc basis to determine fair valuations and on a quarterly basis to review fair value events with respect to certain securities for which market quotations are not readily available, including valuation risks and back-testing results, and to preview reports to the Board.

The Valuation Committee establishes prices of securities for which market quotations are not readily available based on such methodologies and measurements on a regular basis after considering information that is reasonably available and deemed relevant by the Valuation Committee. The Board shall oversee the Valuation Designee and review fair valuation materials on a prompt, quarterly and annual basis and approve proposed revisions to the Valuation Procedures.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to the Valuation Procedures. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that each Portfolio can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. "Fair value" is defined as the price the Portfolio would reasonably expect to receive upon selling an asset or liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the asset or liability. Fair value measurements are determined within a framework that establishes a three-tier hierarchy that maximizes the use of observable market data and minimizes the use of unobservable inputs to establish a classification of fair value measurements for disclosure purposes. "Inputs" refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, such as the risk inherent in a particular valuation technique used to measure fair value using a pricing model and/or the risk inherent in the inputs for the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of each Portfolio. Unobservable inputs reflect each Portfolio's own assumptions about the assumptions market participants would use in pricing the asset or liability based on the information available. The inputs or methodology used for valuing assets or liabilities may not be an indication of the risks associated with investing in those assets or liabilities. The three-tier hierarchy of inputs is summarized below.

• Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability

• Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.)

• Level 3—significant unobservable inputs (including each Portfolio's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability)

The level of an asset or liability within the fair value hierarchy is based on the lowest level of an input, both individually and in the aggregate, that is significant to the fair value measurement. The aggregate value by input level of each Portfolio's assets and liabilities as of September 30, 2025, is included at the end of the Portfolio of Investments.

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The Portfolios may use third-party vendor evaluations, whose prices may be derived from one or more of the following standard inputs, among others:

---

| | |
|:---|:---|
| • Benchmark yields | &nbsp;&nbsp;• Reported trades |
| • Broker/dealer quotes | &nbsp;&nbsp;• Issuer spreads |
| • Two-sided markets | &nbsp;&nbsp;• Benchmark securities |
| • Bids/offers | &nbsp;&nbsp;• Reference data (corporate actions or material event notices) |
| • Industry and economic events | &nbsp;&nbsp;• Comparable bonds |
| • Equity and credit default swap curves | &nbsp;&nbsp;• Monthly payment information |

---

An asset or liability for which a market quotation is not readily available is valued by methods deemed reasonable in good faith by the Valuation Committee, following the Valuation Procedures to represent fair value. Under these procedures, the Valuation Designee generally uses a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information. The Valuation Designee may also use an income-based valuation approach in which the anticipated future cash flows of the asset or liability are discounted to calculate fair value. Fair value represents a good faith approximation of the value of a security. Fair value determinations involve the consideration of a number of subjective factors, an analysis of applicable facts and circumstances and the exercise of judgment. As a result, it is possible that the fair value for a security determined in good faith in accordance with the Valuation Procedures may differ from valuations for the same security determined for other funds using their own valuation procedures. Although the Valuation Procedures are designed to value a security at the price a Portfolio may reasonably expect to receive upon the security's sale on the valuation date in an orderly transaction, there can be no assurance that any fair value determination thereunder would, in fact, approximate the amount that a Portfolio would actually realize upon the sale of the security or the price at which the security would trade if a reliable market price were readily available. During the period ended September 30, 2025, there were no material changes to the fair value methodologies.

Securities which may be valued in this manner include, but are not limited to: (i) a security for which trading has been halted or suspended or otherwise does not have a readily available market quotation on a given day; (ii) a debt security that has recently gone into default and for which there is not a current market quotation; (iii) a security of an issuer that has entered into a restructuring; (iv) a security that has been delisted from a national exchange; (v) a security subject to trading collars for which no or limited trading takes place; and (vi) a security whose principal market has been temporarily closed at a time when, under normal conditions, it would be open. Securities valued in this manner are generally categorized as Level 2 or 3 in the hierarchy.

Certain securities held by certain Portfolios may principally trade in foreign markets. Events may occur between the time the foreign markets close and the time at which each of the Portfolio's net asset values ("NAVs") are calculated. These events may include, but are not limited to, situations relating to a single issuer in a market sector, significant fluctuations in U.S. or foreign markets, natural disasters, armed conflicts, governmental actions or other developments not tied directly to the securities markets. Should the Valuation Designee conclude that such events may have affected the accuracy of the last price of such securities reported on the local foreign market, the Valuation Designee may, pursuant to the Valuation Procedures, adjust the value of the local price to reflect the estimated impact on the price of such securities as a result of such events. In this instance, securities are generally categorized as Level 3 in the hierarchy. Additionally, certain foreign equity securities are also fair valued whenever the movement of a particular index exceeds certain thresholds. In such cases, the securities are fair valued by applying factors provided by a third-party vendor in accordance with the Valuation Procedures and are generally categorized as Level 2 in the hierarchy.

If the principal market of certain foreign equity securities is closed in observance of a local foreign holiday, these securities are valued using the last closing price of regular trading on the relevant exchange and fair valued by applying factors provided by a third-party vendor in accordance with the Valuation Procedures. These securities are generally categorized as Level 2 in the hierarchy.

Equity securities, rights and warrants, if applicable, are valued at the last quoted sales prices as of the close of regular trading on the relevant exchange on each valuation date. Securities that are not traded on the valuation date are valued at the mean of the last quoted bid and ask prices. Prices are normally taken from the principal market in which each security trades. These securities are generally categorized as Level 1 in the hierarchy.

Investments in Underlying Portfolios/Funds are valued at their respective NAVs at the close of business each day. Securities held by the Underlying Portfolios/Funds are valued using policies consistent with those used by the Underlying Portfolios/Funds, as described in the paragraphs within. These securities are generally categorized as Level 1 in the hierarchy.

Exchange-traded funds ("ETFs") are valued at the last quoted sales prices as of the close of regular trading on the relevant exchange on each valuation date. Securities that are not traded on the valuation date are valued at the mean of the last quoted bid and ask prices. Prices are normally taken from the principal market in which each security trades. These securities are generally categorized as Level 1 in the hierarchy.

Investments in mutual funds, including money market funds, are valued at their respective NAVs at the close of business each day on the valuation date. These securities are generally categorized as Level 1 in the hierarchy.

------

Futures contracts are valued at the last posted settlement price on the market where such futures are primarily traded. These instruments are generally categorized as Level 1 in the hierarchy.

Options contracts are valued at the last posted settlement price on the market where such options are primarily traded. These securities are generally categorized as Level 1 (exchanged-traded) or Level 2 (OTC) in the hierarchy.

Swaps are marked to market daily based upon quotations from pricing agents, brokers or market makers. These securities are generally categorized as Level 2 in the hierarchy.

Total return swap contracts, which are arrangements to exchange a market-linked return for a periodic payment, are based on a notional principal amount. To the extent that the total return of the security, index or other financial measure underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the Portfolio will receive a payment from or make a payment to the counterparty. Total return swap contracts are marked to market daily based upon quotations from market makers and these securities are generally categorized as Level 2 in the hierarchy.

Debt securities (other than convertible and municipal bonds) are valued at the evaluated bid prices (evaluated mean prices in the case of convertible and municipal bonds) supplied by a pricing agent or broker selected by the Valuation Designee, in consultation with the Subadvisor(s). The evaluations are market-based measurements processed through a pricing application and represents the pricing agent's good faith determination as to what a holder may receive in an orderly transaction under market conditions. The rules-based logic utilizes valuation techniques that reflect participants' assumptions and vary by asset class and per methodology, maximizing the use of relevant observable data including quoted prices for similar assets, benchmark yield curves and market corroborated inputs. The evaluated bid or mean prices are deemed by the Valuation Designee, in consultation with the Subadvisor(s), to be representative of market values at the regular close of trading of the Exchange on each valuation date. Debt securities purchased on a delayed delivery basis are marked to market daily until settlement at the forward settlement date. Debt securities, including corporate bonds, U.S. government and federal agency bonds, municipal bonds, foreign bonds, convertible bonds, asset-backed securities and mortgage-backed securities are generally categorized as Level 2 in the hierarchy.

Foreign currency forward contracts are valued at their fair market values measured on the basis of the mean between the last current bid and ask prices based on dealer or exchange quotations and are generally categorized as Level 2 in the hierarchy.

Loan assignments, participations and commitments are valued at the average of bid quotations obtained from the engaged independent pricing service and are generally categorized as Level 2 in the hierarchy. Certain loan assignments, participations and commitments may be valued by utilizing significant unobservable inputs obtained from the pricing service and are generally categorized as Level 3 in the hierarchy.

Temporary cash investments acquired in excess of 60 days to maturity at the time of purchase are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities and ratings), both as furnished by independent pricing services. Temporary cash investments that mature in 60 days or less at the time of purchase ("Short-Term Investments") are valued using the amortized cost method of valuation, unless the use of such method would be inappropriate. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between such cost and the principal on maturity date. Amortized cost approximates the current fair value of a security. Securities valued using the amortized cost method are not valued using quoted prices in an active market and are generally categorized as Level 2 in the hierarchy.

The information above is not intended to reflect an exhaustive list of the methodologies that may be used to value portfolio investments. The Valuation Procedures permit the use of a variety of valuation methodologies in connection with valuing portfolio investments. The methodology used for a specific type of investment may vary based on the market data available or other considerations. The methodologies summarized above may not represent the specific means by which portfolio investments are valued on any particular business day.

A portfolio investment may be classified as an illiquid investment under a Portfolio's written liquidity risk management program and related procedures ("Liquidity Program"). Illiquidity of an investment might prevent the sale of such investment at a time when the Manager or the Subadvisor(s) might wish to sell, and these investments could have the effect of decreasing the overall level of a Portfolio's liquidity. Further, the lack of an established secondary market may make it more difficult to value illiquid investments, requiring the Portfolio to rely on judgments that may be somewhat subjective in measuring value, which could vary materially from the amount that a Portfolio could realize upon disposition. Difficulty in selling illiquid investments may result in a loss or may be costly to the Portfolio. An illiquid investment is any investment that the Manager or Subadvisor(s) reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. The liquidity classification of each investment will be made using information obtained after reasonable inquiry and taking into account, among other things, relevant market, trading and investment-specific considerations in accordance with the Liquidity Program. Illiquid investments are often fair valued in accordance with each Portfolio's procedures described above. The liquidity of each Portfolio's investments was determined as of September 30, 2025, and can change at any time.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** NEW YORK LIFE INVESTMENTS VP FUNDS TRUST

- **b. Investment Company Act file number:** 811-03833-01

- **c. CIK number of Registrant:** 0000887340

- **d. LEI of Registrant:** 549300AG6K4RXYNOVN04

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 212-576-7000

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

- **a. Name of Series:** NYLI VP Natural Resources Portfolio

- **b. EDGAR series identifier (if any):** S000033927

- **c. LEI of Series:** 549300FESN1ZIO3K4S50

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $297611477.62

**Total Liabilities:** $1351273.99

**Net Assets:** $296260203.63

**Cash Not Reported:** $569761.76

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000104625 | -0.03%               | 4.83%                | 3.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3417990.02              | $-3445896.17                               |
| Month 2  | $67760.98                | $12173025.30                               |
| Month 3  | $1405930.21              | $7906969.19                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Exxon Mobil Corp.                   | Exxon Mobil Corp.                                       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     89144 | NS      | $10050986.00  | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp.                 | Valero Energy Corp.                                     | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     20620 | NS      | $3510761.20   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd.     | Canadian Natural Resources Ltd.                         | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |    337654 | NS      | $10796581.88  | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp.             | Permian Resources Corp.                                 | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    551023 | NS      | $7053094.40   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co.                 | Crescent Energy Co., Class A                            | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    794501 | NS      | $7086948.92   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudbay Minerals, Inc.               | Hudbay Minerals, Inc.                                   | CUSIP: 443628102<br>LEI: 894500LX3TMESP27BE29 | Long             | EC               | CORP              | CA        |    220963 | NS      | $3349799.08   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                         | Phillips 66                                             | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     89552 | NS      | $12180863.04  | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp.                 | Expand Energy Corp.                                     | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     98620 | NS      | $10477388.80  | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                    | ArcelorMittal SA (Registered)                           | CUSIP: 03938L203<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |    334270 | NS      | $12083860.50  | 4.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Capstone Copper Corp.               | Capstone Copper Corp.                                   | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |    778259 | NS      | $6609916.92   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp.                         | Nucor Corp.                                             | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     27123 | NS      | $3673267.89   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy, Inc.                 | Suncor Energy, Inc.                                     | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |    270523 | NS      | $11310566.63  | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp.                       | Newmont Corp.                                           | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    124888 | NS      | $10529307.28  | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Methanex Corp.                      | Methanex Corp.                                          | CUSIP: 59151K108<br>LEI: 549300TSJHRXT9QXRD13 | Long             | EC               | CORP              | CA        |    201810 | NS      | $8023965.60   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co.                         | Deere & Co.                                             | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      8230 | NS      | $3763249.80   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan, Inc.              | Freeport-McMoRan, Inc.                                  | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    275975 | NS      | $10823739.50  | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy, Inc.            | Diamondback Energy, Inc.                                | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     78459 | NS      | $11227482.90  | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| BP plc                              | BP plc                                                  | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |   1361075 | NS      | $7807735.18   | 2.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Darling Ingredients, Inc.           | Darling Ingredients, Inc.                               | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |    266747 | NS      | $8234479.89   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva, Inc.                       | Corteva, Inc.                                           | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    108193 | NS      | $7317092.59   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Teck Resources Ltd.                 | Teck Resources Ltd., Class B                            | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    189224 | NS      | $8305041.36   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co.             | International Paper Co.                                 | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    266795 | NS      | $12379288.00  | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NYLI U.S. Government Liquidity Fund | NYLI U.S. Government Liquidity Fund                     | CUSIP: 56064L488<br>LEI: 549300Y3ZLEL13IJCK58 | Long             | STIV             | RF                | US        |   4235478 | NS      | $4235478.33   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Impala Platinum Holdings Ltd.       | Impala Platinum Holdings Ltd.                           | CUSIP: 452553308<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |    296368 | NS      | $3776321.06   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp.                           | EQT Corp.                                               | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     27347 | NS      | $1488497.21   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                      | ConocoPhillips                                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     83705 | NS      | $7917655.95   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar, Inc.                   | Caterpillar, Inc.                                       | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      6709 | NS      | $3201199.35   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor plc                           | Amcor plc                                               | CUSIP: N/A<br>LEI: 549300GSODGFCDQ3DI89       | Long             | EC               | CORP              | JE        |    168628 | NS      | $1379377.04   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVT AND AGCY LEX           | INVESCO GOVERNMENT & AGENCY PORTFOLIO OPEN-END FUND USD | CUSIP: 825252885<br>LEI: O37NHJVF7S22I1ONOU83 | Long             | STIV             | RF                | US        |   1109200 | NS      | $1109200.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings, Inc.        | CF Industries Holdings, Inc.                            | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     36651 | NS      | $3287594.70   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                       | Rio Tinto plc                                           | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |    156593 | NS      | $10319509.35  | 3.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Valterra Platinum Ltd.              | Valterra Platinum Ltd.                                  | CUSIP: N/A<br>LEI: 529900RORCZ0E5S5FX81       | Long             | EC               | CORP              | ZA        |     30104 | NS      | $2152335.92   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp.            | Marathon Petroleum Corp.                                | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     58518 | NS      | $11278759.32  | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp.                        | Cameco Corp.                                            | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     36956 | NS      | $3099130.16   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American plc                  | Anglo American plc                                      | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |    249379 | NS      | $9389102.84   | 3.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Ivanhoe Mines Ltd.                  | Ivanhoe Mines Ltd., Class A                             | CUSIP: 46579R104<br>LEI: 5299006XZISURYIA4G32 | Long             | EC               | CORP              | CA        |    290233 | NS      | $3078133.99   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings, Inc.                | Crown Holdings, Inc.                                    | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     16662 | NS      | $1609382.58   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp.                  | MP Materials Corp.                                      | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     19355 | NS      | $1298139.85   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontline plc                       | Frontline plc                                           | CUSIP: N/A<br>LEI: 5493004BCIKYU1YL3H63       | Long             | EC               | CORP              | CY        |     70415 | NS      | $1604757.85   | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |
| Mosaic Co. (The)                    | Mosaic Co. (The)                                        | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |    232431 | NS      | $8060707.08   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp.           | Pan American Silver Corp.                               | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    291818 | NS      | $11302111.14  | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp. of America          | Packaging Corp. of America                              | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |     35698 | NS      | $7779665.14   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Repsol SA                           | Repsol SA                                               | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |    446926 | NS      | $7932135.35   | 2.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit WestRock plc                | Smurfit WestRock plc                                    | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Long             | EC               | CORP              | IE        |    118173 | NS      | $5030624.61   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** NEW YORK LIFE INVESTMENTS VP FUNDS TRUST

**Signature:** Jack Benintende

**Name of Signer:** Jack Benintende

**Title:** Treasurer