# EDGAR Filing Document

**Accession Number:** 0000897111
**File Stem:** 0001193125-25-299996
**Filing Date:** 2025-11
**Character Count:** 155942
**Document Hash:** 857425caa3810ad11ec86fc6535445e6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-299996.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001193125-25-299996

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CARILLON SERIES TRUST
- **CENTRAL INDEX KEY:** 0000897111

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07470
- **FILM NUMBER:** 251528787

**BUSINESS ADDRESS:**
- **STREET 1:** 880 CARILLON PARKWAY
- **CITY:** ST PETERSBURG
- **STATE:** FL
- **ZIP:** 33716
- **BUSINESS PHONE:** 727-567-8143

**MAIL ADDRESS:**
- **STREET 1:** 880 CARILLON PARKWAY
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33716

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EAGLE SERIES TRUST
- **DATE OF NAME CHANGE:** 20081110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HERITAGE SERIES TRUST
- **DATE OF NAME CHANGE:** 19930714

## Series and Classes Contracts Data

### Carillon Reams Core Bond Fund (Series ID: S000058959)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000193357 | Class A      | CRCBX           |
| C000193358 | Class C      | CRCDX           |
| C000193359 | Class I      | SCCIX           |
| C000193362 | Class R-6    | CRCUX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Carillon Reams Core Bond Fund** | **Carillon Reams Core Bond Fund** | **Carillon Reams Core Bond Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **CORPORATE BONDS - 30.3%** | **Par** | **Value**  |
| **Aerospace & Defense - 0.3%** | **Aerospace & Defense - 0.3%** | **Aerospace & Defense - 0.3%** |
|  L3Harris Technologies, Inc., 5.35%, 06/01/2034 | $1164000 | $1206230 |
| **Air Freight & Logistics - 0.3%** | **Air Freight & Logistics - 0.3%** | **Air Freight & Logistics - 0.3%** |
|  United Parcel Service, Inc., 5.15%, 05/22/2034 | 1160000 | 1204826 |
| **Airlines - 2.6%** | **Airlines - 2.6%** | **Airlines - 2.6%** |
|  Air Canada, Pass Through Trust, Series 2020-2, Class A, 5.25%, 04/01/2029 <sup>(a)</sup> | 564079 | 576786 |
|  Alaska Airlines, Pass Through Trust, Series 2020-1, Class A, 4.80%, 08/15/2027 <sup>(a)</sup> | 3520659 | 3525587 |
| American Airlines, Pass Through Trust | American Airlines, Pass Through Trust | American Airlines, Pass Through Trust |
| &nbsp;&nbsp; Series 2017-2, Class AA, 3.35%, 10/15/2029 | 428590 | 413241 |
| &nbsp;&nbsp; Series 2019-1, Class AA, 3.15%, 02/15/2032 | 582301 | 545195 |
| British Airways, Pass Through Trust | British Airways, Pass Through Trust | British Airways, Pass Through Trust |
| &nbsp;&nbsp; Series 2019-1, Class AA, 3.30%, 12/15/2032 <sup>(a)</sup> | 396037 | 374420 |
| &nbsp;&nbsp; Series 2020-1, Class A, 4.25%, 11/15/2032 <sup>(a)</sup> | 875331 | 853159 |
|  Delta Air Lines, Pass Through Trust, Series 2020-1, Class AA, 2.00%, 06/10/2028 | 1948864 | 1866595 |
| JetBlue, Pass Through Trust | JetBlue, Pass Through Trust | JetBlue, Pass Through Trust |
| &nbsp;&nbsp; Series 2019-1, Class AA, 2.75%, 05/15/2032 | 1859875 | 1647355 |
| &nbsp;&nbsp; Series 2020-1, Class A, 4.00%, 11/15/2032 | 977164 | 918976 |
| United Airlines, Pass Through Trust | United Airlines, Pass Through Trust | United Airlines, Pass Through Trust |
| &nbsp;&nbsp; Series 2015-1, Class AA, 3.45%, 12/01/2027 | 321949 | 315378 |
| &nbsp;&nbsp; Series 2016-2, Class AA, 2.88%, 10/07/2028 | 625494 | 595771 |
| &nbsp;&nbsp; Series 2018-1, Class AA, 3.50%, 09/01/2031 | 1099507 | 1054793 |
| &nbsp;&nbsp; Series 2019-1, Class AA, 4.15%, 08/25/2031 | 329919 | 321891 |
|  |  | 13009147 |
| **Auto Manufacturers - 2.9%** | **Auto Manufacturers - 2.9%** | **Auto Manufacturers - 2.9%** |
|  American Honda Finance Corp., 5.20%, 03/05/2035 | 2265000 | 2301036 |
| General Motors Financial Co., Inc. | General Motors Financial Co., Inc. | General Motors Financial Co., Inc. |
| &nbsp;&nbsp; 6.05%, 10/10/2025 | 1110000 | 1110407 |
| &nbsp;&nbsp; 1.25%, 01/08/2026 | 3440000 | 3411541 |
| &nbsp;&nbsp; 3.10%, 01/12/2032 | 1015000 | 914444 |
|  Toyota Motor Credit Corp., 5.00%, 03/19/2027 | 1390000 | 1411806 |
| Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC | Volkswagen Group of America Finance LLC |
| &nbsp;&nbsp; 5.30%, 03/22/2027 <sup>(a)</sup> | 2260000 | 2289931 |
| &nbsp;&nbsp; 3.75%, 05/13/2030 <sup>(a)</sup> | 2805000 | 2693813 |
|  |  | 14132978 |
| **Banks - 6.7%** | **Banks - 6.7%** | **Banks - 6.7%** |
| Bank of America Corp. | Bank of America Corp. | Bank of America Corp. |
| &nbsp;&nbsp; 4.98% to 01/24/2028 then SOFR + 0.83%, 01/24/2029 | 2330000 | 2373068 |
| &nbsp;&nbsp; 4.57% to 04/27/2032 then SOFR + 1.83%, 04/27/2033 | 850000 | 849824 |
| &nbsp;&nbsp; 5.51% to 01/24/2035 then SOFR + 1.31%, 01/24/2036 | 1585000 | 1656821 |
| Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
| &nbsp;&nbsp; 4.54% to 09/19/2029 then SOFR + 1.34%, 09/19/2030 | 1280000 | 1285956 |
| &nbsp;&nbsp; 3.79% to 03/17/2032 then SOFR + 1.94%, 03/17/2033 | 3825000 | 3633685 |
| &nbsp;&nbsp; 5.45% to 06/11/2034 then SOFR + 1.45%, 06/11/2035 | 695000 | 720700 |
| &nbsp;&nbsp; 5.33% to 03/27/2035 then SOFR + 1.47%, 03/27/2036 | 920000 | 940426 |
| HSBC Holdings PLC | HSBC Holdings PLC | HSBC Holdings PLC |
| &nbsp;&nbsp; 4.95%, 03/31/2030 | 2085000 | 2138368 |
| &nbsp;&nbsp; 5.45% to 03/03/2035 then SOFR + 1.56%, 03/03/2036 | 985000 | 1016480 |
| JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
| &nbsp;&nbsp; 4.51% to 10/22/2027 then SOFR + 0.86%, 10/22/2028 | 810000 | 816921 |
| &nbsp;&nbsp; 4.59% to 04/26/2032 then SOFR + 1.80%, 04/26/2033 | 655000 | 657039 |
| &nbsp;&nbsp; 4.91% to 07/25/2032 then SOFR + 2.08%, 07/25/2033 | 3860000 | 3936069 |
| &nbsp;&nbsp; 5.50% to 01/24/2035 then SOFR + 1.32%, 01/24/2036 | 1585000 | 1658242 |
|  Royal Bank of Canada, 4.65% to 10/18/2029 then SOFR + 1.08%, 10/18/2030 | 2005000 | 2028000 |
| The PNC Financial Services Group, Inc. | The PNC Financial Services Group, Inc. | The PNC Financial Services Group, Inc. |
| &nbsp;&nbsp; 4.81% to 10/21/2031 then SOFR + 1.26%, 10/21/2032 | 810000 | 821143 |
| &nbsp;&nbsp; 6.04% to 10/28/2032 then SOFR + 2.14%, 10/28/2033 | 1180000 | 1273252 |
|  US Bancorp, 5.38% to 01/23/2029 then SOFR + 1.56%, 01/23/2030 | 2455000 | 2538270 |
| Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |
| &nbsp;&nbsp; 4.48% to 04/04/2030 then 3 mo. Term SOFR + 4.03%, 04/04/2031 | 2640000 | 2654450 |
| &nbsp;&nbsp; 4.90% to 07/25/2032 then SOFR + 2.10%, 07/25/2033 | 1850000 | 1879468 |
|  |  | 32878182 |
| **Beverages - 0.4%** | **Beverages - 0.4%** | **Beverages - 0.4%** |
|  Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.70%, 02/01/2036 | 995000 | 982366 |
|  Keurig Dr Pepper, Inc., 5.15%, 05/15/2035 | 1050000 | 1040010 |
|  |  | 2022376 |
| **Capital Markets - 2.4%** | **Capital Markets - 2.4%** | **Capital Markets - 2.4%** |
| Morgan Stanley | Morgan Stanley | Morgan Stanley |
| &nbsp;&nbsp; 2.94% to 01/21/2032 then SOFR + 1.29%, 01/21/2033 | 1325000 | 1204629 |
| &nbsp;&nbsp; 5.59% to 01/18/2035 then SOFR + 1.42%, 01/18/2036 | 1585000 | 1659505 |
|  State Street Corp., 5.15% to 02/28/2035 then SOFR + 1.22%, 02/28/2036 | 1615000 | 1651702 |
|  The Bank of New York Mellon Corp., 4.97% to 04/26/2033 then SOFR + 1.61%, 04/26/2034 | 2360000 | 2405200 |
| The Goldman Sachs Group, Inc. | The Goldman Sachs Group, Inc. | The Goldman Sachs Group, Inc. |
| &nbsp;&nbsp; 3.10% to 02/24/2032 then SOFR + 1.41%, 02/24/2033 | 1245000 | 1142137 |
| &nbsp;&nbsp; 5.54% to 01/28/2035 then SOFR + 1.38%, 01/28/2036 | 1585000 | 1654493 |
| UBS Group AG | UBS Group AG | UBS Group AG |
| &nbsp;&nbsp; 1.36% to 01/30/2026 then 1 yr. CMT Rate + 1.08%, 01/30/2027 <sup>(a)</sup> | 1575000 | 1559088 |
| &nbsp;&nbsp; 3.13% to 08/13/2029 then 3 mo. LIBOR US + 1.47%, 08/13/2030 <sup>(a)(b)</sup> | 595000 | 568295 |
|  |  | 11845049 |
| **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** |
| American Express Co. | American Express Co. | American Express Co. |
| &nbsp;&nbsp; 5.04% to 07/26/2027 then SOFR + 0.93%, 07/26/2028 | 1570000 | 1596788 |
| &nbsp;&nbsp; 5.67% to 04/25/2035 then SOFR + 1.79%, 04/25/2036 | 1805000 | 1906990 |
|  |  | 3503778 |
| **Containers & Packaging - 0.5%** | **Containers & Packaging - 0.5%** | **Containers & Packaging - 0.5%** |
|  Sonoco Products Co., 3.13%, 05/01/2030 | 2450000 | 2314833 |
| **Electric - 5.9%** | **Electric - 5.9%** | **Electric - 5.9%** |
|  Appalachian Power Co., 2.70%, 04/01/2031 | 2735000 | 2492420 |
|  Consolidated Edison Co. of New York, Inc., 3.35%, 04/01/2030 | 460000 | 445397 |
|  DTE Electric Co., 5.20%, 04/01/2033 | 1985000 | 2061515 |
| Duke Energy Florida LLC | Duke Energy Florida LLC | Duke Energy Florida LLC |
| &nbsp;&nbsp; 5.88%, 11/15/2033 | 640000 | 690518 |
| &nbsp;&nbsp; 5.65%, 04/01/2040 | 1865000 | 1945894 |
|  Duke Energy Indiana LLC, 5.25%, 03/01/2034 | 1130000 | 1165881 |
|  Duke Energy Progress LLC, 5.25%, 03/15/2033 | 1820000 | 1893852 |
| Entergy Arkansas LLC | Entergy Arkansas LLC | Entergy Arkansas LLC |
| &nbsp;&nbsp; 5.30%, 09/15/2033 | 1620000 | 1679505 |
| &nbsp;&nbsp; 5.45%, 06/01/2034 | 1320000 | 1379794 |
| &nbsp;&nbsp; 3.35%, 06/15/2052 | 1415000 | 981364 |
|  Entergy Louisiana LLC, 5.35%, 03/15/2034 | 1445000 | 1499398 |
|  Indianapolis Power & Light Co., 5.65%, 12/01/2032 <sup>(a)</sup> | 1995000 | 2089428 |
|  MidAmerican Energy Co., 5.35%, 01/15/2034 | 1025000 | 1070459 |
|  Monongahela Power Co., 5.85%, 02/15/2034 <sup>(a)</sup> | 1365000 | 1442679 |
|  Northern States Power Co./MN, 5.05%, 05/15/2035 | 1970000 | 2009224 |
|  Public Service Co. of New Hampshire, 5.35%, 10/01/2033 | 2520000 | 2636890 |
|  San Diego Gas & Electric Co., 5.40%, 04/15/2035 | 2840000 | 2932915 |
|  Wisconsin Public Service Corp., 2.85%, 12/01/2051 | 805000 | 509456 |
|  |  | 28926589 |
| **Electric Utilities - 2.3%** | **Electric Utilities - 2.3%** | **Electric Utilities - 2.3%** |
|  IPALCO Enterprises, Inc., 4.25%, 05/01/2030 | 2265000 | 2217004 |
|  Union Electric Co., 5.20%, 04/01/2034 | 1595000 | 1643271 |
|  Virginia Electric and Power Co., 5.15%, 03/15/2035 | 2925000 | 2978464 |
| Wisconsin Power and Light Co. | Wisconsin Power and Light Co. | Wisconsin Power and Light Co. |
| &nbsp;&nbsp; 1.95%, 09/16/2031 | 1595000 | 1379786 |
| &nbsp;&nbsp; 3.95%, 09/01/2032 | 1620000 | 1554934 |
| &nbsp;&nbsp; 4.95%, 04/01/2033 | 1750000 | 1772616 |
|  |  | 11546075 |
| **Equity REITS - 0.8%** | **Equity REITS - 0.8%** | **Equity REITS - 0.8%** |
|  Agree LP, 2.00%, 06/15/2028 | 2755000 | 2599293 |
|  Ventas Realty LP, 4.75%, 11/15/2030 | 1380000 | 1396932 |
|  |  | 3996225 |
| **Ground Transportation - 1.0%** | **Ground Transportation - 1.0%** | **Ground Transportation - 1.0%** |
|  CSX Corp., 5.05%, 06/15/2035 | 975000 | 995697 |
|  Norfolk Southern Corp., 5.10%, 05/01/2035 | 1185000 | 1209890 |
|  Union Pacific Corp, 5.10%, 02/20/2035 | 2540000 | 2611409 |
|  |  | 4816996 |
| **Hotels, Restaurants & Leisure - 0.5%** | **Hotels, Restaurants & Leisure - 0.5%** | **Hotels, Restaurants & Leisure - 0.5%** |
|  McDonald's Corp., 4.95%, 03/03/2035 | 2550000 | 2583552 |
| **Multi-Utilities - 0.8%** | **Multi-Utilities - 0.8%** | **Multi-Utilities - 0.8%** |
|  Dominion Energy, Inc., 3.38%, 04/01/2030 | 1405000 | 1349524 |
|  Public Service Enterprise Group, Inc., 2.45%, 11/15/2031 | 1900000 | 1685746 |
|  WEC Energy Group, Inc., 1.80%, 10/15/2030 | 833000 | 737356 |
|  |  | 3772626 |
| **Oil & Gas - 0.5%** | **Oil & Gas - 0.5%** | **Oil & Gas - 0.5%** |
|  BP Capital Markets America, Inc., 5.23%, 11/17/2034 | 2490000 | 2571879 |
| **Oil, Gas & Consumable Fuels - 0.4%** | **Oil, Gas & Consumable Fuels - 0.4%** | **Oil, Gas & Consumable Fuels - 0.4%** |
|  TransCanada PipeLines Ltd., 4.10%, 04/15/2030 | 2185000 | 2153054 |
| **Tobacco - 0.4%** | **Tobacco - 0.4%** | **Tobacco - 0.4%** |
|  Altria Group, Inc., 2.45%, 02/04/2032 | 2355000 | 2073037 |
| **Transportation - 0.9%** | **Transportation - 0.9%** | **Transportation - 0.9%** |
|  Burlington Northern Santa Fe LLC, 2.88%, 06/15/2052 | 1590000 | 1018092 |
|  Canadian Pacific Railway Co., 5.20%, 03/30/2035 | 3400000 | 3504104 |
| Union Pacific Railroad Co., Pass Through Trust | Union Pacific Railroad Co., Pass Through Trust | Union Pacific Railroad Co., Pass Through Trust |
| &nbsp;&nbsp; Series 2005, 5.08%, 01/02/2029 | 28233 | 28518 |
| &nbsp;&nbsp; Series 2006, 5.87%, 07/02/2030 | 22751 | 23857 |
|  |  | 4574571 |
| **TOTAL CORPORATE BONDS** (Cost $148,532,356) | **TOTAL CORPORATE BONDS** (Cost $148,532,356) | 149132003 |
| **ASSET-BACKED SECURITIES - 26.5%** | **Par** | **Value**  |
|  American Homes 4 Rent Trust, Series 2015-SFR2, Class A, 3.73%, 10/17/2052 <sup>(a)</sup> | 1556185 | 1553140 |
| AMSR Trust | AMSR Trust | AMSR Trust |
| &nbsp;&nbsp; Series 2021-SFR3, Class A, 1.48%, 10/17/2038 <sup>(a)</sup> | 1150000 | 1116177 |
| &nbsp;&nbsp; Series 2022-SFR3, Class A, 4.00%, 10/17/2039 <sup>(a)</sup> | 645000 | 639770 |
| &nbsp;&nbsp; Series 2023-SFR1, Class A, 4.00%, 04/17/2040 <sup>(a)</sup> | 750000 | 741256 |
| &nbsp;&nbsp; Series 2023-SFR2, Class A, 3.95%, 06/17/2040 <sup>(a)</sup> | 265000 | 261824 |
| &nbsp;&nbsp; Series 2024-SFR1, Class A, 4.29%, 07/17/2041 <sup>(a)(c)</sup> | 585000 | 582913 |
| &nbsp;&nbsp; Series 2024-SFR2, Class A, 4.15%, 11/17/2041 <sup>(a)</sup> | 440000 | 433713 |
| &nbsp;&nbsp; Series 2025-SFR1, Class A, 3.66%, 06/17/2042 <sup>(a)</sup> | 1030000 | 990243 |
| &nbsp;&nbsp; Series 2025-SFR2, Class A, 4.28%, 11/17/2042 <sup>(a)</sup> | 910000 | 896708 |
| Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC | Avis Budget Rental Car Funding AESOP LLC |
| &nbsp;&nbsp; Series 2021-1A, Class A, 1.38%, 08/20/2027 <sup>(a)</sup> | 4270000 | 4188105 |
| &nbsp;&nbsp; Series 2022-3A, Class A, 4.62%, 02/20/2027 <sup>(a)</sup> | 1287500 | 1288433 |
| &nbsp;&nbsp; Series 2023-4A, Class A, 5.49%, 06/20/2029 <sup>(a)</sup> | 725000 | 745909 |
| &nbsp;&nbsp; Series 2024-1A, Class A, 5.36%, 06/20/2030 <sup>(a)</sup> | 525000 | 542975 |
| &nbsp;&nbsp; Series 2024-3A, Class A, 5.23%, 12/20/2030 <sup>(a)</sup> | 525000 | 541267 |
| &nbsp;&nbsp; Series 2025-1A, Class A, 4.80%, 08/20/2029 <sup>(a)</sup> | 1495000 | 1514320 |
| &nbsp;&nbsp; Series 2025-2A, Class A, 5.12%, 08/20/2031 <sup>(a)</sup> | 3075000 | 3159806 |
| &nbsp;&nbsp; Series 2025-4A, Class A, 4.40%, 02/20/2032 <sup>(a)</sup> | 4470000 | 4443652 |
| BMW Vehicle Owner Trust | BMW Vehicle Owner Trust | BMW Vehicle Owner Trust |
| &nbsp;&nbsp; Series 2023-A, Class A3, 5.47%, 02/25/2028 | 471812 | 475144 |
| &nbsp;&nbsp; Series 2024-A, Class A2A, 5.42%, 02/25/2027 | 436333 | 437108 |
| &nbsp;&nbsp; Series 2024-A, Class A2B, 4.70% (30 day avg SOFR US + 0.34%), 02/25/2027 | 230013 | 230103 |
| &nbsp;&nbsp; Series 2025-A, Class A2B, 4.66% (30 day avg SOFR US + 0.30%), 10/25/2027 | 2987640 | 2987643 |
|  Bridge Trust, Series 2025-SFR1, Class A, 4.05%, 09/17/2042 <sup>(a)</sup> | 2225000 | 2138755 |
| Capital One Prime Auto Receivables Trust | Capital One Prime Auto Receivables Trust | Capital One Prime Auto Receivables Trust |
| &nbsp;&nbsp; Series 2023-1, Class A3, 4.87%, 02/15/2028 | 1806601 | 1813503 |
| &nbsp;&nbsp; Series 2024-1, Class A2A, 4.61%, 10/15/2027 | 439905 | 440509 |
| &nbsp;&nbsp; Series 2024-1, Class A2B, 4.69% (30 day avg SOFR US + 0.32%), 10/15/2027 | 420659 | 420738 |
|  CarMax Auto Owner Trust, Series 2025-3, Class A2A, 4.42%, 08/15/2028 | 1650000 | 1657333 |
|  Citizens Auto Receivables Trust, Series 2024-2, Class A2B, 4.91% (30 day avg SOFR US + 0.54%), 11/16/2026 <sup>(a)</sup> | 102181 | 102200 |
|  Corevest American Finance Trust, Series 2020-4, Class A, 1.17%, 12/15/2052 <sup>(a)</sup> | 148243 | 147638 |
|  Discover Card Execution Note Trust, Series 2023-A2, Class A, 4.93%, 06/15/2028 | 1320000 | 1328441 |
| FirstKey Homes Trust | FirstKey Homes Trust | FirstKey Homes Trust |
| &nbsp;&nbsp; Series 2020-SFR2, Class A, 1.27%, 10/19/2037 <sup>(a)</sup> | 3799295 | 3781560 |
| &nbsp;&nbsp; Series 2021-SFR1, Class A, 1.54%, 08/17/2038 <sup>(a)</sup> | 1840983 | 1797857 |
| &nbsp;&nbsp; Series 2021-SFR2, Class A, 1.38%, 09/17/2038 <sup>(a)</sup> | 326233 | 317400 |
| &nbsp;&nbsp; Series 2022-SFR3, Class A, 4.25%, 07/17/2038 <sup>(a)</sup> | 345687 | 344563 |
| Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust |
| &nbsp;&nbsp; Series 2024-B, Class A2A, 5.40%, 04/15/2027 | 347296 | 348160 |
| &nbsp;&nbsp; Series 2024-B, Class A2B, 4.77% (30 day avg SOFR US + 0.40%), 04/15/2027 | 593876 | 593922 |
| &nbsp;&nbsp; Series 2024-C, Class A2B, 4.77% (30 day avg SOFR US + 0.40%), 08/15/2027 | 685547 | 686001 |
| &nbsp;&nbsp; Series 2024-D, Class A2A, 4.59%, 10/15/2027 | 511396 | 512439 |
| &nbsp;&nbsp; Series 2024-D, Class A2B, 4.69% (30 day avg SOFR US + 0.32%), 10/15/2027 | 610623 | 610797 |
| GM Financial Consumer Automobile Receivables Trust | GM Financial Consumer Automobile Receivables Trust | GM Financial Consumer Automobile Receivables Trust |
| &nbsp;&nbsp; Series 2024-1, Class A2A, 5.12%, 02/16/2027 | 3722 | 3724 |
| &nbsp;&nbsp; Series 2024-1, Class A2B, 4.77% (30 day avg SOFR US + 0.40%), 02/16/2027 | 4795 | 4795 |
| &nbsp;&nbsp; Series 2024-3, Class A2A, 5.35%, 06/16/2027 | 271600 | 272084 |
| &nbsp;&nbsp; Series 2024-3, Class A2B, 4.73% (30 day avg SOFR US + 0.36%), 06/16/2027 | 271600 | 271680 |
| &nbsp;&nbsp; Series 2025-2, Class A2A, 4.40%, 02/16/2028 | 823660 | 824945 |
| &nbsp;&nbsp; Series 2025-3, Class A2A, 4.32%, 06/16/2028 | 3115000 | 3125772 |
| Hertz Vehicle Financing III LLC | Hertz Vehicle Financing III LLC | Hertz Vehicle Financing III LLC |
| &nbsp;&nbsp; Series 2025-1A, Class A, 4.91%, 09/25/2029 <sup>(a)</sup> | 3135000 | 3162536 |
| &nbsp;&nbsp; Series 2025-2A, Class A, 5.13%, 09/25/2031 <sup>(a)</sup> | 2040000 | 2067741 |
| &nbsp;&nbsp; Series 2025-3A, Class A, 5.06%, 12/26/2029 <sup>(a)</sup> | 3080000 | 3125926 |
| &nbsp;&nbsp; Series 2025-4A, Class A, 5.41%, 12/25/2031 <sup>(a)</sup> | 2260000 | 2309460 |
|  Hertz Vehicle Financing III LP, Series 2021-2A, Class A, 1.68%, 12/27/2027 <sup>(a)</sup> | 3725000 | 3630828 |
|  Home Partners of America Trust, Series 2021-2, Class A, 1.90%, 12/17/2026 <sup>(a)</sup> | 989335 | 960912 |
| Honda Auto Receivables Owner Trust | Honda Auto Receivables Owner Trust | Honda Auto Receivables Owner Trust |
| &nbsp;&nbsp; Series 2024-1, Class A3, 5.21%, 08/15/2028 | 830195 | 838042 |
| &nbsp;&nbsp; Series 2024-2, Class A2, 5.48%, 11/18/2026 | 725734 | 726725 |
| &nbsp;&nbsp; Series 2025-2, Class A2A, 4.30%, 01/18/2028 | 1140000 | 1141751 |
| &nbsp;&nbsp; Series 2025-3, Class A2A, 4.19%, 03/21/2028 | 3155000 | 3163957 |
| &nbsp;&nbsp; Series 2025-3, Class A2B, 4.74% (30 day avg SOFR US + 0.35%), 03/21/2028 | 2235000 | 2236719 |
| Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust |
| &nbsp;&nbsp; Series 2024-B, Class A2A, 5.15%, 06/15/2027 | 550894 | 552142 |
| &nbsp;&nbsp; Series 2024-B, Class A2B, 4.74% (30 day avg SOFR US + 0.37%), 06/15/2027 | 481287 | 481393 |
| &nbsp;&nbsp; Series 2025-B, Class A2A, 4.45%, 08/15/2028 | 2160000 | 2168667 |
| &nbsp;&nbsp; Series 2025-C, Class A2A, 3.97%, 07/17/2028 | 5060000 | 5062779 |
|  Invitation Homes Trust, Series 2024-SFR1, Class A, 4.00%, 09/17/2041 <sup>(a)</sup> | 1667144 | 1633643 |
| Mercedes-Benz Auto Lease Trust | Mercedes-Benz Auto Lease Trust | Mercedes-Benz Auto Lease Trust |
| &nbsp;&nbsp; Series 2024-A, Class A2B, 4.79% (30 day avg SOFR US + 0.42%), 02/16/2027 | 346136 | 346279 |
| &nbsp;&nbsp; Series 2024-B, Class A2B, 4.81% (30 day avg SOFR US + 0.44%), 12/15/2026 | 221595 | 221671 |
|  Mercedes-Benz Auto Receivables Trust, Series 2024-1, Class A2B, 4.74% (30 day avg SOFR US + 0.37%), 05/17/2027 | 17838 | 17839 |
| Nissan Auto Receivables Owner Trust | Nissan Auto Receivables Owner Trust | Nissan Auto Receivables Owner Trust |
| &nbsp;&nbsp; Series 2024-A, Class A2B, 4.75% (30 day avg SOFR US + 0.38%), 12/15/2026 | 911257 | 911476 |
| &nbsp;&nbsp; Series 2024-B, Class A2B, 4.75% (30 day avg SOFR US + 0.38%), 06/15/2027 | 1229233 | 1229789 |
| &nbsp;&nbsp; Series 2025-A, Class A2A, 4.50%, 02/15/2028 | 4052000 | 4069291 |
| Porsche Financial Auto Securitization Trust | Porsche Financial Auto Securitization Trust | Porsche Financial Auto Securitization Trust |
| &nbsp;&nbsp; Series 2024-1A, Class A2A, 4.45%, 01/24/2028 <sup>(a)</sup> | 355398 | 355553 |
| &nbsp;&nbsp; Series 2024-1A, Class A2B, 4.67% (30 day avg SOFR US + 0.28%), 01/24/2028 <sup>(a)</sup> | 298025 | 298075 |
| Progress Residential Trust | Progress Residential Trust | Progress Residential Trust |
| &nbsp;&nbsp; Series 2021-SFR3, Class A, 1.64%, 05/17/2026 <sup>(a)</sup> | 1523941 | 1512419 |
| &nbsp;&nbsp; Series 2021-SFR5, Class A, 1.43%, 07/17/2038 <sup>(a)</sup> | 699793 | 688553 |
| &nbsp;&nbsp; Series 2021-SFR7, Class A, 1.69%, 08/17/2040 <sup>(a)</sup> | 663275 | 618886 |
| &nbsp;&nbsp; Series 2021-SFR8, Class A, 1.51%, 10/17/2038 <sup>(a)</sup> | 868648 | 850300 |
| &nbsp;&nbsp; Series 2021-SFR9, Class A, 2.01%, 11/17/2040 <sup>(a)</sup> | 404109 | 378315 |
| &nbsp;&nbsp; Series 2022-SFR1, Class A, 2.71%, 02/17/2041 <sup>(a)</sup> | 1729526 | 1640858 |
| &nbsp;&nbsp; Series 2022-SFR2, Class A, 2.95%, 04/17/2027 <sup>(a)</sup> | 2983120 | 2917478 |
| &nbsp;&nbsp; Series 2022-SFR4, Class A, 4.44%, 05/17/2041 <sup>(a)</sup> | 753344 | 752423 |
| &nbsp;&nbsp; Series 2024-SFR4, Class A, 3.10%, 07/17/2041 <sup>(a)</sup> | 1443366 | 1375935 |
| &nbsp;&nbsp; Series 2025-SFR1, Class A, 3.40%, 02/17/2042 <sup>(a)</sup> | 304624 | 290998 |
| &nbsp;&nbsp; Series 2025-SFR3, Class A, 3.39%, 07/17/2042 <sup>(a)</sup> | 1775000 | 1681405 |
| &nbsp;&nbsp; Series 2025-SFR4, Class A, 4.30%, 08/17/2042 <sup>(a)</sup> | 2110000 | 2087056 |
| &nbsp;&nbsp; Series 2025-SFR5, Class A, 3.85%, 10/17/2042 <sup>(a)</sup> | 2145000 | 2063197 |
| STAR Trust | STAR Trust | STAR Trust |
| &nbsp;&nbsp; Series 2022-SFR3, Class A, 5.80% (1 mo. Term SOFR + 1.65%), 05/17/2039 <sup>(a)</sup> | 3237117 | 3248580 |
| &nbsp;&nbsp; Series 2025-SFR5, Class A, 5.60% (1 mo. Term SOFR + 1.45%), 02/17/2042 <sup>(a)</sup> | 1033636 | 1036640 |
| Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust |
| &nbsp;&nbsp; Series 2024-A, Class A2B, 4.72% (30 day avg SOFR US + 0.35%), 12/15/2026 | 2987 | 2987 |
| &nbsp;&nbsp; Series 2024-C, Class A2A, 5.16%, 05/17/2027 | 411420 | 412234 |
| &nbsp;&nbsp; Series 2024-C, Class A2B, 4.74% (30 day avg SOFR US + 0.37%), 05/17/2027 | 411420 | 411534 |
| &nbsp;&nbsp; Series 2024-D, Class A2B, 4.76% (30 day avg SOFR US + 0.39%), 08/16/2027 | 2786251 | 2787270 |
| &nbsp;&nbsp; Series 2025-B, Class A2A, 4.46%, 03/15/2028 | 1120000 | 1122817 |
| &nbsp;&nbsp; Series 2025-C, Class A2A, 4.29%, 06/15/2028 | 2665000 | 2673062 |
| &nbsp;&nbsp; Series 2025-C, Class A2B, 4.67% (30 day avg SOFR US + 0.30%), 06/15/2028 | 2765000 | 2766276 |
|  Tricon American Homes Trust, Series 2020-SFR2, Class A, 1.48%, 11/17/2039 <sup>(a)</sup> | 853947 | 807381 |
| Tricon Residential Trust | Tricon Residential Trust | Tricon Residential Trust |
| &nbsp;&nbsp; Series 2021-SFR1, Class A, 1.94%, 07/17/2038 <sup>(a)</sup> | 726293 | 711851 |
| &nbsp;&nbsp; Series 2025-SFR1, Class A, 5.25% (1 mo. Term SOFR + 1.10%), 03/17/2042 <sup>(a)</sup> | 2089202 | 2093201 |
|  USB Auto Owner Trust, Series 2025-1A, Class A2, 4.51%, 06/15/2028 <sup>(a)</sup> | 965000 | 968305 |
|  Verizon Master Trust, Series 2024-4, Class A1A, 5.21%, 06/20/2029 | 1700000 | 1714338 |
| World Omni Auto Receivables Trust | World Omni Auto Receivables Trust | World Omni Auto Receivables Trust |
| &nbsp;&nbsp; Series 2025-B, Class A2A, 4.38%, 08/15/2028 | 1080000 | 1081836 |
| &nbsp;&nbsp; Series 2025-C, Class A2A, 4.19%, 10/16/2028 | 1815000 | 1818630 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $129,481,173) | **TOTAL ASSET-BACKED SECURITIES** (Cost $129,481,173) | 130542984 |
| **U.S. TREASURY SECURITIES - 22.6%** | **Par** | **Value**  |
| U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
| &nbsp;&nbsp; 2.38%, 02/15/2042 | 815000 | 603928 |
| &nbsp;&nbsp; 4.25%, 08/15/2054 | 38990000 | 35992644 |
| &nbsp;&nbsp; 4.75%, 08/15/2055 | 7095000 | 7119389 |
|  U.S. Treasury Inflation Indexed Bonds, 2.38%, 02/15/2055 | 15658409 | 15285299 |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp; 3.88%, 08/31/2032 | 21385000 | 21321513 |
| &nbsp;&nbsp; 4.25%, 08/15/2035 | 30650000 | 30899031 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $113,292,527) | **TOTAL U.S. TREASURY SECURITIES** (Cost $113,292,527) | 111221804 |
| **AGENCY MORTGAGE-BACKED SECURITIES - 17.3%** | **Par** | **Value**  |
|  Fannie Mae-Aces, Series 2021-M23, Class AB, 0.50%, 11/01/2031 | 2066551 | 1738954 |
| Fannie Mae Pool | Fannie Mae Pool | Fannie Mae Pool |
| &nbsp;&nbsp; 4.00%, 10/15/2055 <sup>(d)</sup> | 15245000 | 14366316 |
| &nbsp;&nbsp; 4.50%, 10/15/2055 <sup>(d)</sup> | 12315000 | 11943800 |
| &nbsp;&nbsp; 5.00%, 10/15/2055 <sup>(d)</sup> | 24460000 | 24255934 |
| &nbsp;&nbsp; 5.50%, 10/15/2055 <sup>(d)</sup> | 30980000 | 31235212 |
| &nbsp;&nbsp; 4.00%, 11/15/2055 <sup>(d)</sup> | 300000 | 282662 |
| &nbsp;&nbsp; 4.50%, 11/15/2055 <sup>(d)</sup> | 240000 | 232682 |
| &nbsp;&nbsp; 5.00%, 11/15/2055 <sup>(d)</sup> | 475000 | 470777 |
| &nbsp;&nbsp; 5.50%, 11/15/2055 <sup>(d)</sup> | 605000 | 609582 |
| **TOTAL AGENCY MORTGAGE-BACKED SECURITIES** (Cost $84,214,536) | **TOTAL AGENCY MORTGAGE-BACKED SECURITIES** (Cost $84,214,536) | 85135919 |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES - 16.8%** | **Par** | **Value**  |
| BANK | BANK | BANK |
| &nbsp;&nbsp; Series 2024-BNK47, Class A5, 5.72%, 06/15/2057 | 1000000 | 1064282 |
| &nbsp;&nbsp; Series 2024-BNK48, Class A5, 5.05%, 10/15/2057 | 445000 | 452904 |
| &nbsp;&nbsp; Series 2025-BNK49, Class A5, 5.62%, 03/15/2058 <sup>(e)</sup> | 1120000 | 1185829 |
| &nbsp;&nbsp; Series 2025-BNK50, Class A5, 5.65%, 05/15/2068 <sup>(e)</sup> | 590000 | 624995 |
| BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| &nbsp;&nbsp; Series 2023-C22, Class A5, 6.80%, 11/15/2056 <sup>(e)</sup> | 640000 | 719463 |
| &nbsp;&nbsp; Series 2024-C24, Class A5, 5.42%, 02/15/2057 | 2235000 | 2333328 |
| &nbsp;&nbsp; Series 2024-C26, Class A5, 5.83%, 05/15/2057 | 2075000 | 2226209 |
| &nbsp;&nbsp; Series 2025-5C37, Class A3, 5.02%, 09/15/2058 | 1090000 | 1115148 |
| &nbsp;&nbsp; Series 2025-C32, Class A5, 5.72%, 02/15/2062 | 400000 | 426384 |
| Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| &nbsp;&nbsp; Series 2018-B5, Class A2, 4.08%, 07/15/2051 | 502360 | 497588 |
| &nbsp;&nbsp; Series 2021-B23, Class A2, 1.62%, 02/15/2054 | 1136581 | 1069252 |
| &nbsp;&nbsp; Series 2021-B24, Class A2, 1.95%, 03/15/2054 | 1815000 | 1758894 |
| &nbsp;&nbsp; Series 2022-B33, Class A2, 3.32%, 03/15/2055 | 1905000 | 1852893 |
| &nbsp;&nbsp; Series 2025-V17, Class A3, 5.07%, 09/15/2058 | 1065000 | 1091068 |
| BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| &nbsp;&nbsp; Series 2024-C9, Class A5, 5.76%, 07/15/2057 | 1105000 | 1175780 |
| &nbsp;&nbsp; Series 2025-5C12, Class A3, 5.18%, 10/15/2058 | 590000 | 606694 |
| &nbsp;&nbsp; Series 2025-C11, Class A5, 5.69%, 02/15/2058 | 2730000 | 2895204 |
| &nbsp;&nbsp; Series 2025-C12, Class A5, 5.87%, 06/15/2058 <sup>(e)</sup> | 1190000 | 1277508 |
| Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. | Citigroup Mortgage Loan Trust, Inc. |
| &nbsp;&nbsp; Series 2021-INV1, Class A3A, 2.50%, 05/25/2051 <sup>(a)(e)</sup> | 862593 | 714672 |
| &nbsp;&nbsp; Series 2021-J3, Class A3A, 2.50%, 09/25/2051 <sup>(a)(e)</sup> | 1342472 | 1111839 |
|  DBJPM Mortgage Trust, Series 2020-C9, Class A2, 1.90%, 08/15/2053 | 120566 | 120341 |
| Flagstar Mortgage Trust | Flagstar Mortgage Trust | Flagstar Mortgage Trust |
| &nbsp;&nbsp; Series 2021-12, Class A2, 2.50%, 11/25/2051 <sup>(a)(e)</sup> | 2944092 | 2440145 |
| &nbsp;&nbsp; Series 2021-3INV, Class A18, 5.00%, 06/25/2051 <sup>(a)(e)</sup> | 634386 | 625853 |
| &nbsp;&nbsp; Series 2021-3INV, Class A2, 2.50%, 06/25/2051 <sup>(a)(e)</sup> | 1229347 | 1018917 |
| &nbsp;&nbsp; Series 2021-4, Class A1, 2.50%, 06/01/2051 <sup>(a)(e)</sup> | 2570795 | 2135503 |
| &nbsp;&nbsp; Series 2021-6INV, Class A4, 2.50%, 08/25/2051 <sup>(a)(e)</sup> | 2749181 | 2282035 |
| &nbsp;&nbsp; Series 2021-7, Class A1, 2.50%, 08/25/2051 <sup>(a)(e)</sup> | 1766433 | 1463981 |
| <br> GS Mortgage-Backed Securities Trust | <br> GS Mortgage-Backed Securities Trust | <br> GS Mortgage-Backed Securities Trust |
| &nbsp;&nbsp; Series 2020-INV1, Class A14, 2.91%, 10/25/2050 <sup>(a)(e)</sup> | 724345 | 625653 |
| &nbsp;&nbsp; Series 2021-GR2, Class A2, 2.50%, 02/25/2052 <sup>(a)(e)</sup> | 2572152 | 2135086 |
| &nbsp;&nbsp; Series 2021-INV1, Class A2, 2.50%, 12/25/2051 <sup>(a)(e)</sup> | 473305 | 391993 |
| &nbsp;&nbsp; Series 2021-PJ2, Class A2, 2.50%, 07/25/2051 <sup>(a)(e)</sup> | 820715 | 680232 |
| &nbsp;&nbsp; Series 2022-LTV2, Class A21, 4.00%, 12/25/2052 <sup>(a)(e)</sup> | 1080603 | 1025337 |
| &nbsp;&nbsp; Series 2022-PJ5, Class A4, 2.50%, 10/25/2052 <sup>(a)(e)</sup> | 741498 | 614110 |
| &nbsp;&nbsp; Series 2022-PJ6, Class A4, 3.00%, 01/25/2053 <sup>(a)(e)</sup> | 457375 | 396333 |
|  Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.65%, 01/13/2040 <sup>(a)(e)</sup> | 1055000 | 1090234 |
| JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| &nbsp;&nbsp; Series 2020-9, Class A4, 2.50%, 05/25/2051 <sup>(a)(e)</sup> | 1020015 | 949535 |
| &nbsp;&nbsp; Series 2021-10, Class A3A, 2.00%, 12/25/2051 <sup>(a)(e)</sup> | 3452898 | 2732402 |
| &nbsp;&nbsp; Series 2021-12, Class A3, 2.50%, 02/25/2052 <sup>(a)(e)</sup> | 255619 | 212184 |
| &nbsp;&nbsp; Series 2021-13, Class A3A, 2.00%, 04/25/2052 <sup>(a)(e)</sup> | 1002138 | 797312 |
| &nbsp;&nbsp; Series 2021-14, Class A12, 5.00%, 05/25/2052 <sup>(a)(e)</sup> | 1018802 | 989372 |
| &nbsp;&nbsp; Series 2021-14, Class A3A, 2.00%, 05/25/2052 <sup>(a)(e)</sup> | 774289 | 617524 |
| &nbsp;&nbsp; Series 2021-15, Class A2, 3.00%, 06/25/2052 <sup>(a)(e)</sup> | 2614611 | 2262522 |
| &nbsp;&nbsp; Series 2021-15, Class A3, 2.50%, 06/25/2052 <sup>(a)(e)</sup> | 920798 | 765439 |
| &nbsp;&nbsp; Series 2021-3, Class A3, 2.50%, 07/25/2051 <sup>(a)(e)</sup> | 2083725 | 1732155 |
| &nbsp;&nbsp; Series 2021-4, Class A3, 2.50%, 08/25/2051 <sup>(a)(e)</sup> | 816155 | 675942 |
| &nbsp;&nbsp; Series 2021-7, Class A3, 2.50%, 11/25/2051 <sup>(a)(e)</sup> | 631808 | 525208 |
| &nbsp;&nbsp; Series 2021-8, Class A3, 2.50%, 12/25/2051 <sup>(a)(e)</sup> | 3175488 | 2639714 |
| &nbsp;&nbsp; Series 2021-INV4, Class A2A, 2.50%, 01/25/2052 <sup>(a)(e)</sup> | 1116575 | 925420 |
| &nbsp;&nbsp; Series 2021-INV8, Class A2, 3.00%, 05/25/2052 <sup>(a)(e)</sup> | 1636348 | 1416976 |
| &nbsp;&nbsp; Series 2022-1, Class A2, 3.00%, 07/25/2052 <sup>(a)(e)</sup> | 1383616 | 1195497 |
| &nbsp;&nbsp; Series 2022-4, Class A2A, 3.00%, 10/25/2052 <sup>(a)(e)</sup> | 636581 | 550031 |
| &nbsp;&nbsp; Series 2022-6, Class A3, 3.00%, 11/25/2052 <sup>(a)(e)</sup> | 325523 | 282078 |
| &nbsp;&nbsp; Series 2024-3, Class A3, 3.00%, 05/25/2054 <sup>(a)(e)</sup> | 2225096 | 1919146 |
| &nbsp;&nbsp; Series 2024-7, Class A3, 3.00%, 04/25/2053 <sup>(a)(e)</sup> | 1412162 | 1219315 |
| &nbsp;&nbsp; Series 2025-5MPR, Class A1D, 5.50%, 11/25/2055 <sup>(a)(c)</sup> | 2615039 | 2625674 |
| &nbsp;&nbsp; Series 2025-7MPR, Class A1D, 5.32%, 02/25/2056 <sup>(a)(c)</sup> | 1470828 | 1471762 |
| Mello Mortgage Capital Acceptance | Mello Mortgage Capital Acceptance | Mello Mortgage Capital Acceptance |
| &nbsp;&nbsp; Series 2021-INV1, Class A4, 2.50%, 06/25/2051 <sup>(a)(e)</sup> | 1687018 | 1508715 |
| &nbsp;&nbsp; Series 2021-MTG1, Class A1, 2.50%, 04/25/2051 <sup>(a)(e)</sup> | 1448847 | 1199940 |
|  Morgan Stanley Residential Mortgage Loan Trust, Series 2023-1, Class A1, 4.00%, 02/25/2053 <sup>(a)(e)</sup> | 274372 | 254260 |
| OBX Trust | OBX Trust | OBX Trust |
| &nbsp;&nbsp; Series 2021-INV2, Class A3, 2.50%, 10/25/2051 <sup>(a)(e)</sup> | 625947 | 518771 |
| &nbsp;&nbsp; Series 2022-J2, Class A2, 3.00%, 08/25/2052 <sup>(a)(e)</sup> | 1342209 | 1159082 |
| &nbsp;&nbsp; Series 2023-INV1, Class A1, 3.00%, 01/25/2052 <sup>(a)(e)</sup> | 788992 | 681246 |
| &nbsp;&nbsp; Series 2023-J1, Class A1, 4.50%, 01/25/2053 <sup>(a)(e)</sup> | 786475 | 753023 |
|  PRMI Securitization Trust, Series 2021-1, Class A3, 2.50%, 04/25/2051 <sup>(a)(e)</sup> | 1254020 | 1116809 |
|  Provident Funding Mortgage Trust, Series 2021-INV2, Class 1A4, 2.00%, 11/25/2051 <sup>(a)(e)</sup> | 441240 | 382461 |
|  PSMC Trust, Series 2021-2, Class A3, 2.50%, 05/25/2051 <sup>(a)(e)</sup> | 1107353 | 1001584 |
|  RIDE Trust, Series 2025-SHRE, Class A, 5.62%, 02/14/2047 <sup>(a)(e)</sup> | 475000 | 487958 |
|  Sequoia Mortgage Trust, Series 2021-9, Class A1, 2.50%, 01/25/2052 <sup>(a)(e)</sup> | 1258921 | 1045003 |
|  SLG Office Trust, Series 2021-OVA, Class A, 2.59%, 07/15/2041 <sup>(a)</sup> | 1700000 | 1511024 |
|  Towd Point Mortgage Trust, Series 2015-5, Class M2, 3.50%, 05/25/2055 <sup>(a)(e)</sup> | 446470 | 444176 |
|  UWM Mortgage Trust, Series 2021-INV4, Class A10, 5.00%, 12/25/2051 <sup>(a)(e)</sup> | 667682 | 658730 |
| Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| &nbsp;&nbsp; Series 2025-5C6, Class A3, 5.19%, 10/15/2058 | 390000 | 401262 |
| &nbsp;&nbsp; Series 2025-C64, Class A5, 5.65%, 02/15/2058 | 1625000 | 1719541 |
|  Wells Fargo Mortgage Backed Securities Trust, Series 2021-1, Class A1, 2.50%, 12/25/2050 <sup>(a)(e)</sup> | 261832 | 217001 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** (Cost $82,155,319) | **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** (Cost $82,155,319) | 82811481 |
| **MEDIUM-TERM NOTES - 0.2%** | **Par** | **Value**  |
| Citigroup Global Markets Holdings, Inc. | Citigroup Global Markets Holdings, Inc. | Citigroup Global Markets Holdings, Inc. |
| &nbsp;&nbsp; 11/17/2025 <sup>(f)</sup> | 253000 | 282753 |
| &nbsp;&nbsp; 11/17/2025 <sup>(g)</sup> | 253000 | 262168 |
| Nomura International Funding Pte Ltd. | Nomura International Funding Pte Ltd. | Nomura International Funding Pte Ltd. |
| &nbsp;&nbsp; 11/04/2025 <sup>(h)</sup> | 201000 | 247019 |
| &nbsp;&nbsp; 11/04/2025 <sup>(i)</sup> | 234000 | 199698 |
| **TOTAL MEDIUM-TERM NOTES** (Cost $941,000) | **TOTAL MEDIUM-TERM NOTES** (Cost $941,000) | 991638 |
| **TOTAL INVESTMENTS - 113.7% (**Cost $558,616,911**)** | **TOTAL INVESTMENTS - 113.7% (**Cost $558,616,911**)** | 559835829 |
| Liabilities in Excess of Other Assets - (13.7)% | Liabilities in Excess of Other Assets - (13.7)% | (67378973) |
| **TOTAL NET ASSETS - 100.0%** |  | $492456856 |
| two | two | –% |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

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| |
|:---|
| CMT - Constant Maturity Treasury |
| LIBOR - London Interbank Offered Rate |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |

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| | |
|:---|:---|
| (a) | Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. |
| (b) | Securities referencing LIBOR are expected to transition to an alternative reference rate by the security's next scheduled coupon reset date. |
| (c) | Step coupon bond. The rate disclosed is as of September 30, 2025. |
| (d) | To-be-announced security. |
| (e) | Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of September 30, 2025. |
| (f)<br>(g)<br>(h)<br>(i) | This security does not pay interest and does not guarantee full repayment of principal at maturity. Instead, the security offers a payment at maturity that may be greater than or less than the stated principal amount, depending on the performance of the synthetic 10Y10Y SOFR CMS rate from its initial underlying value to its final underlying value.<br> This security does not pay interest and does not guarantee full repayment of principal at maturity. Instead, the security offers a payment at maturity that may be greater than or less than the stated principal amount, depending on the performance of the synthetic 2Y2Y SOFR CMS rate from its initial underlying value to its final underlying value.<br> This security does not pay interest and does not guarantee full repayment of principal at maturity. Instead, the security offers a payment at maturity that may be greater than or less than the stated principal amount, depending on the performance of each of the 20Y USD SWAP Reference Rate and the 10Y USD SWAP Reference Rate (each, an "underlying") from its initial underlying value to its final underlying value.<br> This security does not pay interest and does not guarantee full repayment of principal at maturity. Instead, the security offers a payment at maturity that may be greater than or less than the stated principal amount, depending on the performance of each of the 4Y USD Swap Reference Rate and the 2Y USD Swap Reference Rate (each, an "underlying") from its initial underlying value to its final underlying value. |

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**Summary of Fair Value Disclosures as of September 30, 2025 (Unaudited)** 

Carillon Reams Core Bond Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Agency Mortgage-Backed Securities | $– | $85135919 | $– | $85135919 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 149132003 | – | 149132003 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 130542984 | – | 130542984 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 111221804 | – | 111221804 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage-Backed Securities | – | 82811481 | – | 82811481 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Medium-Term Notes | – | 991638 | – | 991638 |
| Total Investments | $– | $559835829 | $– | $559835829 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Carillon Series Trust

- **b. Investment Company Act file number:** 811-07470

- **c. CIK number of Registrant:** 0000897111

- **d. LEI of Registrant:** 549300RNYMX90LFTNW23

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

  - **Street Address 1:** 880 Carillon Parkway

  - **City:** St. Petersburg

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33716

  - **Telephone number:** 7275671000

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

- **a. Name of Series:** Carillon Reams Core Bond Fund

- **b. EDGAR series identifier (if any):** S000058959

- **c. LEI of Series:** 549300W8XSNN5SVK9D74

**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:** $663104870.84

**Total Liabilities:** $171299028.67

**Net Assets:** $491805842.17

**Delayed Delivery Securities:** $171080200.86

**Cash Not Reported:** $12334905.03

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 940.680000000000 | **1-Year:** 13161.460000000000 | **5-Year:** 59262.480000000000 | **10-Year:** 105825.780000000000 | **30-Year:** 144816.110000000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000193357 | -0.21%               | 1.26%                | 1.18%                |
| Class ID C000193358 | -0.27%               | 1.11%                | 1.22%                |
| Class ID C000193359 | -0.18%               | 1.19%                | 1.30%                |
| Class ID C000193362 | -0.17%               | 1.20%                | 1.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1073712.81              | $-3574378.93                               |
| Month 2  | $415419.62               | $3516473.05                                |
| Month 3  | $1452352.20              | $2919105.84                                |

**Designated Index Information**

- **Index Name:** Bloomberg US Agg Total Return Value Unhedged USD

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGREE LP                       | Agree LP                                                    | CUSIP: 008513AB9<br>LEI: 549300DXY3G299V1BO77 | Long             | DBT              | CORP              | US        |   2755000 | PA      | $2599292.99   | 0.53%             | 2028-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| AIR CANADA 2020-2A PTT         | Air Canada 2020-2 Class A Pass Through Trust                | CUSIP: 00909DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    564078 | PA      | $576785.95    | 0.12%             | 2029-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALASKA AIRLINES 2020 TR        | Alaska Airlines 2020-1 Class A Pass Through Trust           | CUSIP: 01166VAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3520659 | PA      | $3525586.85   | 0.72%             | 2027-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2024-C26                               | CUSIP: 05555AAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2075000 | PA      | $2226208.57   | 0.45%             | 2057-05-15      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2024-C24                               | CUSIP: 07336VAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2235000 | PA      | $2333327.71   | 0.47%             | 2057-02-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                | DTE Electric Co                                             | CUSIP: 23338VAS5<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |   1985000 | PA      | $2061515.26   | 0.42%             | 2033-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Discover Card Execution Note T | Discover Card Execution Note Trust                          | CUSIP: 254683CZ6<br>LEI: 549300CKCX1QE4RUW216 | Long             | ABS-O            | CORP              | US        |   1320000 | PA      | $1328441.27   | 0.27%             | 2028-06-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC            | Dominion Energy Inc                                         | CUSIP: 25746UDG1<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   1405000 | PA      | $1349523.69   | 0.27%             | 2030-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC        | Duke Energy Florida LLC                                     | CUSIP: 26444HAQ4<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    640000 | PA      | $690517.91    | 0.14%             | 2033-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                   | CUSIP: 01F0426A6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |  12315000 | PA      | $11943799.42  | 2.43%             | 2055-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                   | CUSIP: 01F0426B4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    240000 | PA      | $232681.51    | 0.05%             | 2055-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                   | CUSIP: 01F0506A9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-CBDO         | CORP              | US        |  24460000 | PA      | $24255934.13  | 4.93%             | 2055-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                   | CUSIP: 01F0506B7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    475000 | PA      | $470777.38    | 0.10%             | 2055-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                   | CUSIP: 01F0526A5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-CBDO         | CORP              | US        |  30980000 | PA      | $31235212.31  | 6.35%             | 2055-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                   | CUSIP: 01F0526B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |    605000 | PA      | $609582.22    | 0.12%             | 2055-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fanniemae-Aces                 | Fannie Mae-Aces                                             | CUSIP: 3136BKAW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2066551 | PA      | $1738954.41   | 0.35%             | 2031-11-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust           | FirstKey Homes 2020-SFR2 Trust                              | CUSIP: 33767JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3799295 | PA      | $3781560.24   | 0.77%             | 2037-10-19      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust           | FirstKey Homes 2021-SFR2 Trust                              | CUSIP: 33767TAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    326233 | PA      | $317399.62    | 0.06%             | 2038-09-17      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust           | FirstKey Homes 2021-SFR1 Trust                              | CUSIP: 33767WAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1840983 | PA      | $1797857.35   | 0.37%             | 2038-08-17      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust           | FirstKey Homes 2022-SFR3 Trust                              | CUSIP: 33768EAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    345687 | PA      | $344562.87    | 0.07%             | 2038-07-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2021-3INV                           | CUSIP: 33852CAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1229347 | PA      | $1018917.19   | 0.21%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2021-3INV                           | CUSIP: 33852CAU7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    634386 | PA      | $625852.67    | 0.13%             | 2051-06-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2021-4                              | CUSIP: 33852FAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2570795 | PA      | $2135502.97   | 0.43%             | 2051-06-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2021-12                             | CUSIP: 33853GAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2944092 | PA      | $2440145.54   | 0.50%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust   | Ford Credit Auto Owner Trust 2024-C                         | CUSIP: 34532UAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    685547 | PA      | $686001.00    | 0.14%             | 2027-08-15      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust   | Ford Credit Auto Owner Trust 2024-D                         | CUSIP: 34535VAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    511396 | PA      | $512439.06    | 0.10%             | 2027-10-15      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust   | Ford Credit Auto Owner Trust 2024-D                         | CUSIP: 34535VAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    610623 | PA      | $610796.63    | 0.12%             | 2027-10-15      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO         | General Motors Financial Co Inc                             | CUSIP: 37045XDD5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   3440000 | PA      | $3411541.05   | 0.69%             | 2026-01-08      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO         | General Motors Financial Co Inc                             | CUSIP: 37045XDS2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $914443.44    | 0.19%             | 2032-01-12      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO         | General Motors Financial Co Inc                             | CUSIP: 37045XDZ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1110407.04   | 0.23%             | 2025-10-10      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP          | Norfolk Southern Corp                                       | CUSIP: 655844CV8<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |   1185000 | PA      | $1209890.17   | 0.25%             | 2035-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NORTHERN STATES PWR-MINN       | Northern States Power Co/MN                                 | CUSIP: 665772CZ0<br>LEI: 3S1GHB0TEH85KX44SB51 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $2009224.14   | 0.41%             | 2035-05-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2021-INV2 Trust                                         | CUSIP: 67114KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    625947 | PA      | $518771.14    | 0.11%             | 2051-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2022-J2 Trust                                           | CUSIP: 67115QAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1342209 | PA      | $1159082.13   | 0.24%             | 2052-08-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2023-J1 Trust                                           | CUSIP: 67116MAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    786475 | PA      | $753022.64    | 0.15%             | 2053-01-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2023-INV1                                               | CUSIP: 67448KAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    788992 | PA      | $681245.69    | 0.14%             | 2052-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                        | CUSIP: 693475BJ3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1273252.49   | 0.26%             | 2033-10-28      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES         | PNC Financial Services Group Inc/The                        | CUSIP: 693475CA1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    810000 | PA      | $821142.50    | 0.17%             | 2032-10-21      | Variable      | 4.81%                 | No            |                  2 | On Loan: No      |
| PRMI Securitization Trust      | PRMI Securitization Trust 2021-1                            | CUSIP: 69359DAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1254020 | PA      | $1116809.03   | 0.23%             | 2051-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Porsche Financial Auto Securit | Porsche Financial Auto Securitization Trust 2024-1          | CUSIP: 73328EAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355398 | PA      | $355553.04    | 0.07%             | 2028-01-24      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Porsche Financial Auto Securit | Porsche Financial Auto Securitization Trust 2024-1          | CUSIP: 73328EAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    298025 | PA      | $298075.07    | 0.06%             | 2028-01-24      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2025-SFR4 Trust                        | CUSIP: 74290JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2110000 | PA      | $2087056.49   | 0.42%             | 2042-08-17      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2022-SFR2 Trust                        | CUSIP: 74332VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2983120 | PA      | $2917477.62   | 0.59%             | 2027-04-17      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2022-SFR4 Trust                        | CUSIP: 74332XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    753344 | PA      | $752423.36    | 0.15%             | 2041-05-17      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2021-SFR5 Trust                        | CUSIP: 74333FAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    699793 | PA      | $688552.90    | 0.14%             | 2038-07-17      | Fixed         | 1.43%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2021-SFR7 Trust                        | CUSIP: 74333PAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    663275 | PA      | $618885.68    | 0.13%             | 2040-08-17      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2021-SFR9 Trust                        | CUSIP: 74333QAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    404109 | PA      | $378314.63    | 0.08%             | 2040-11-17      | Fixed         | 2.01%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2021-SFR8 Trust                        | CUSIP: 74333TAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    868648 | PA      | $850300.48    | 0.17%             | 2038-10-17      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2021-SFR3                              | CUSIP: 74333VAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1523941 | PA      | $1512419.17   | 0.31%             | 2026-05-17      | Fixed         | 1.64%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2022-SFR1 Trust                        | CUSIP: 74333YAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1729526 | PA      | $1640858.37   | 0.33%             | 2041-02-17      | Fixed         | 2.71%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2025-SFR3 Trust                        | CUSIP: 74334BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1775000 | PA      | $1681405.14   | 0.34%             | 2042-07-17      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2024-SFR4 Trust                        | CUSIP: 74334JAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1443366 | PA      | $1375934.84   | 0.28%             | 2041-07-17      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2025-SFR1 Trust                        | CUSIP: 74334NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    304624 | PA      | $290998.46    | 0.06%             | 2042-02-17      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust     | Progress Residential 2025-SFR5 Trust                        | CUSIP: 74334RAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2145000 | PA      | $2063196.78   | 0.42%             | 2042-10-17      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| RIDE 2025-SHRE                 | RIDE 2025-SHRE                                              | CUSIP: 765692AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    475000 | PA      | $487958.05    | 0.10%             | 2047-02-14      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| UNP RR CO 2005 PASS TRST       | Union Pacific Railroad Co 2005 Pass Through Trust           | CUSIP: 90783VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     28233 | PA      | $28517.74     | 0.01%             | 2029-01-02      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| UNP RR CO 2006 PASS TRST       | Union Pacific Railroad Co 2006 Pass Through Trust           | CUSIP: 90783WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22751 | PA      | $23857.44     | 0.00%             | 2030-07-02      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE          | United Parcel Service Inc                                   | CUSIP: 911312CD6<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1204826.22   | 0.24%             | 2034-05-22      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| US BANCORP                     | US Bancorp                                                  | CUSIP: 91159HJQ4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2455000 | PA      | $2538270.06   | 0.52%             | 2030-01-23      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                            | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    815000 | PA      | $603927.73    | 0.12%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United Wholesale Mortgage LLC  | UWM Mortgage Trust 2021-INV4                                | CUSIP: 918307AT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    667682 | PA      | $658730.26    | 0.13%             | 2051-12-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                            | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  38990000 | PA      | $35992643.75  | 7.32%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT        | Wisconsin Power and Light Co                                | CUSIP: 976826BR7<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1772616.30   | 0.36%             | 2033-04-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| WISCONSIN PUBLIC SERVICE       | Wisconsin Public Service Corp                               | CUSIP: 976843BN1<br>LEI: 549300BJRHJVYNUMQZ30 | Long             | DBT              | CORP              | US        |    805000 | PA      | $509456.23    | 0.10%             | 2051-12-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Tr | World Omni Auto Receivables Trust 2025-B                    | CUSIP: 98164TAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1080000 | PA      | $1081835.68   | 0.22%             | 2028-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Tr | World Omni Auto Receivables Trust 2025-C                    | CUSIP: 981936AB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1815000 | PA      | $1818629.64   | 0.37%             | 2028-10-16      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Owner Trust        | BMW Vehicle Owner Trust 2023-A                              | CUSIP: 05592XAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    471812 | PA      | $475144.26    | 0.10%             | 2028-02-25      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust             | BMO 2024-C9 Mortgage Trust                                  | CUSIP: 05593MAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1105000 | PA      | $1175780.11   | 0.24%             | 2057-07-15      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust             | BMO 2025-C11 Mortgage Trust                                 | CUSIP: 05613XAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2730000 | PA      | $2895204.04   | 0.59%             | 2058-02-15      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust             | BMO 2025-C12 Mortgage Trust                                 | CUSIP: 05615DAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1190000 | PA      | $1277508.55   | 0.26%             | 2058-06-15      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2021-B24 Mortgage Trust                           | CUSIP: 08163CAZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1815000 | PA      | $1758893.63   | 0.36%             | 2054-03-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2022-B33 Mortgage Trust                           | CUSIP: 08163PBD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1905000 | PA      | $1852893.30   | 0.38%             | 2055-03-15      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2025-V17 Mortgage Trust                           | CUSIP: 081934AR2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1065000 | PA      | $1091068.11   | 0.22%             | 2058-09-15      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust             | BMO 2025-5C12 Mortgage Trust                                | CUSIP: 09663VAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $606693.58    | 0.12%             | 2058-10-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Owner Trust        | BMW Vehicle Owner Trust 2024-A                              | CUSIP: 096919AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    436333 | PA      | $437108.49    | 0.09%             | 2027-02-25      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Owner Trust        | BMW Vehicle Owner Trust 2024-A                              | CUSIP: 096919AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    230013 | PA      | $230102.83    | 0.05%             | 2027-02-25      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Owner Trust        | BMW Vehicle Owner Trust 2025-A                              | CUSIP: 096924AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2987640 | PA      | $2987643.40   | 0.61%             | 2027-10-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA         | BP Capital Markets America Inc                              | CUSIP: 10373QCA6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   2490000 | PA      | $2571878.77   | 0.52%             | 2034-11-17      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Bridge Trust                   | Bridge 2025-SFR1 Trust                                      | CUSIP: 10807GAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2225000 | PA      | $2138754.77   | 0.43%             | 2042-09-17      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| BRITISH AIR 19-1 AA PTT        | British Airways 2019-1 Class AA Pass Through Trust          | CUSIP: 11043XAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    396037 | PA      | $374419.88    | 0.08%             | 2032-12-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                               | CUSIP: 172967NN7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3825000 | PA      | $3633684.86   | 0.74%             | 2033-03-17      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                               | CUSIP: 172967PL9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    695000 | PA      | $720699.68    | 0.15%             | 2035-06-11      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                               | CUSIP: 17327CAT0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1285956.28   | 0.26%             | 2030-09-19      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                               | CUSIP: 17327CBA0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    920000 | PA      | $940425.65    | 0.19%             | 2036-03-27      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC       | Duke Energy Progress LLC                                    | CUSIP: 26442UAQ7<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |   1820000 | PA      | $1893851.49   | 0.39%             | 2033-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY INDIANA LLC        | Duke Energy Indiana LLC                                     | CUSIP: 26443TAE6<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1165881.04   | 0.24%             | 2034-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENTERGY ARKANSAS LLC           | Entergy Arkansas LLC                                        | CUSIP: 29366MAC2<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |   1415000 | PA      | $981364.04    | 0.20%             | 2052-06-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| ENTERGY ARKANSAS LLC           | Entergy Arkansas LLC                                        | CUSIP: 29366MAE8<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |   1620000 | PA      | $1679505.47   | 0.34%             | 2033-09-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2025-5C37                              | CUSIP: 05494NAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1090000 | PA      | $1115148.22   | 0.23%             | 2058-09-15      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2025-C32                               | CUSIP: 07337AAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $426384.20    | 0.09%             | 2062-02-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2018-B5 Mortgage Trust                            | CUSIP: 08160BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    502360 | PA      | $497587.98    | 0.10%             | 2051-07-15      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2021-B23 Mortgage Trust                           | CUSIP: 08162RAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1136581 | PA      | $1069251.57   | 0.22%             | 2054-02-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| CSX CORP                       | CSX Corp                                                    | CUSIP: 126408HZ9<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    975000 | PA      | $995696.72    | 0.20%             | 2035-06-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust  | CITIGROUP MORTGAGE LOAN TRUST 2021-INV1                     | CUSIP: 17329PAY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    862593 | PA      | $714671.74    | 0.15%             | 2051-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust  | Citigroup Mortgage Loan Trust 2021-J3                       | CUSIP: 17330BAX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1342472 | PA      | $1111839.30   | 0.23%             | 2051-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Citizens Auto Receivables Trus | Citizens Auto Receivables Trust 2024-2                      | CUSIP: 17331XAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    102181 | PA      | $102199.74    | 0.02%             | 2026-11-16      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC        | Consolidated Edison Co of New York Inc                      | CUSIP: 209111FX6<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |    460000 | PA      | $445397.36    | 0.09%             | 2030-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CoreVest American Finance Ltd  | Corevest American Finance 2020-4 Trust                      | CUSIP: 21873AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    148243 | PA      | $147637.93    | 0.03%             | 2052-12-15      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2021-6INV                           | CUSIP: 33851GAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2749181 | PA      | $2282035.02   | 0.46%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2021-7                              | CUSIP: 33852JAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1766433 | PA      | $1463981.07   | 0.30%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust   | Ford Credit Auto Owner Trust 2024-B                         | CUSIP: 34531QAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    347296 | PA      | $348160.02    | 0.07%             | 2027-04-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust   | Ford Credit Auto Owner Trust 2024-B                         | CUSIP: 34531QAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    593876 | PA      | $593922.03    | 0.12%             | 2027-04-15      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi | GM Financial Consumer Automobile Receivables Trust 2025-2   | CUSIP: 362549AB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    823660 | PA      | $824945.42    | 0.17%             | 2028-02-16      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2020-INV1               | CUSIP: 36258KAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    724345 | PA      | $625653.06    | 0.13%             | 2050-10-25      | Variable      | 2.91%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2021-GR2                | CUSIP: 36262JAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2572152 | PA      | $2135086.41   | 0.43%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2021-INV1               | CUSIP: 36263KAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    473305 | PA      | $391992.83    | 0.08%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2021-PJ2                | CUSIP: 36264DAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    820715 | PA      | $680231.62    | 0.14%             | 2051-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi | GM Financial Consumer Automobile Receivables Trust 2024-1   | CUSIP: 36268GAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3722 | PA      | $3723.88      | 0.00%             | 2027-02-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi | GM Financial Consumer Automobile Receivables Trust 2024-1   | CUSIP: 36268GAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4795 | PA      | $4795.23      | 0.00%             | 2027-02-16      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2022-LTV2               | CUSIP: 36268SCA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1080603 | PA      | $1025337.51   | 0.21%             | 2052-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi | Gm Financial Consumer Automobile Receivables Trust 2025-3   | CUSIP: 379957AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3115000 | PA      | $3125772.29   | 0.64%             | 2028-06-16      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi | GM Financial Consumer Automobile Receivables Trust 2024-3   | CUSIP: 38013KAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    271600 | PA      | $272084.28    | 0.06%             | 2027-06-16      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi | GM Financial Consumer Automobile Receivables Trust 2024-3   | CUSIP: 38013KAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    271600 | PA      | $271679.95    | 0.06%             | 2027-06-16      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                                 | CUSIP: 38141GC44<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1585000 | PA      | $1654492.95   | 0.34%             | 2036-01-28      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                                 | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1245000 | PA      | $1142137.00   | 0.23%             | 2033-02-24      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Auto Lease Trust | Mercedes-Benz Auto Lease Trust 2024-B                       | CUSIP: 58769GAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    221595 | PA      | $221670.74    | 0.05%             | 2026-12-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Auto Lease Trust | Mercedes-Benz Auto Lease Trust 2024-A                       | CUSIP: 58770JAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    346136 | PA      | $346279.05    | 0.07%             | 2027-02-16      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ AUTO RECEIVABLES | Mercedes-Benz Auto Receivables Trust 2024-1                 | CUSIP: 587918AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17838 | PA      | $17838.94     | 0.00%             | 2027-05-17      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| MIDAMERICAN ENERGY CO          | MidAmerican Energy Co                                       | CUSIP: 595620AX3<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1070458.72   | 0.22%             | 2034-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                              | CUSIP: 61748UAF9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1585000 | PA      | $1659505.37   | 0.34%             | 2036-01-18      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mor | Morgan Stanley Residential Mortgage Loan Trust 2023-1       | CUSIP: 61774YAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    274372 | PA      | $254260.02    | 0.05%             | 2053-02-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Nissan Auto Receivables Owner  | Nissan Auto Receivables 2024-A Owner Trust                  | CUSIP: 65479UAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    911257 | PA      | $911476.23    | 0.19%             | 2026-12-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Nissan Auto Receivables Owner  | Nissan Auto Receivables 2024-B Owner Trust                  | CUSIP: 65479WAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1229233 | PA      | $1229788.68   | 0.25%             | 2027-06-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Nissan Auto Receivables Owner  | Nissan Auto Receivables 2025-A Owner Trust                  | CUSIP: 65481GAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4052000 | PA      | $4069290.69   | 0.83%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NOMURA INTL FUNDING PTE        | Nomura International Funding Pte Ltd                        | CUSIP: 65539UEC6<br>LEI: 5493006YXUX4IZ8XXW98 | Long             | SN               | CORP              | SG        |    201000 | PA      | $247018.95    | 0.05%             | 2025-11-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NOMURA INTL FUNDING PTE        | Nomura International Funding Pte Ltd                        | CUSIP: 65539UED4<br>LEI: 5493006YXUX4IZ8XXW98 | Long             | SN               | CORP              | SG        |    234000 | PA      | $199697.94    | 0.04%             | 2025-11-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PSMC Trust                     | PSMC 2021-2 Trust                                           | CUSIP: 69376CAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1107353 | PA      | $1001583.92   | 0.20%             | 2051-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru | Provident Funding Mortgage Trust 2021-INV2                  | CUSIP: 74388MAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    441240 | PA      | $382461.16    | 0.08%             | 2051-11-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| PUB SVC NEW HAMP               | Public Service Co of New Hampshire                          | CUSIP: 744538AF6<br>LEI: 549300SHPFALUPKK2351 | Long             | DBT              | CORP              | US        |   2520000 | PA      | $2636889.60   | 0.54%             | 2033-10-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS       | Public Service Enterprise Group Inc                         | CUSIP: 744573AU0<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1685745.80   | 0.34%             | 2031-11-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA           | Royal Bank of Canada                                        | CUSIP: 78017FZT3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   2005000 | PA      | $2028000.44   | 0.41%             | 2030-10-18      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust               | SLG Office Trust 2021-OVA                                   | CUSIP: 78449RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $1511024.43   | 0.31%             | 2041-07-15      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| STAR 2022-SFR3 Trust           | STAR 2022-SFR3 Trust                                        | CUSIP: 78474PAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3237117 | PA      | $3248580.45   | 0.66%             | 2039-05-17      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO G & E                | San Diego Gas & Electric Co                                 | CUSIP: 797440CG7<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |   2840000 | PA      | $2932915.09   | 0.60%             | 2035-04-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2021-9                               | CUSIP: 81748CAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1258921 | PA      | $1045002.62   | 0.21%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS CO             | Sonoco Products Co                                          | CUSIP: 835495AL6<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2314833.30   | 0.47%             | 2030-05-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| STAR 2025-SFR5 Trust           | STAR 2025-SFR5 Trust                                        | CUSIP: 85520CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1033636 | PA      | $1036640.08   | 0.21%             | 2042-02-17      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP              | State Street Corp                                           | CUSIP: 857477CX9<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1615000 | PA      | $1651701.86   | 0.34%             | 2036-02-28      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2015-5                            | CUSIP: 89171VAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    446470 | PA      | $444176.34    | 0.09%             | 2055-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner  | Toyota Auto Receivables 2025-B Owner Trust                  | CUSIP: 89231HAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1120000 | PA      | $1122816.69   | 0.23%             | 2028-03-15      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP       | Toyota Motor Credit Corp                                    | CUSIP: 89236TLY9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1411806.33   | 0.29%             | 2027-03-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner  | Toyota Auto Receivables 2024-C Owner Trust                  | CUSIP: 89237QAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    411420 | PA      | $412233.55    | 0.08%             | 2027-05-17      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner  | Toyota Auto Receivables 2024-C Owner Trust                  | CUSIP: 89237QAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    411420 | PA      | $411533.93    | 0.08%             | 2027-05-17      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner  | Toyota Auto Receivables 2024-A Owner Trust                  | CUSIP: 89238DAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2987 | PA      | $2987.38      | 0.00%             | 2026-12-15      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner  | Toyota Auto Receivables 2025-C Owner Trust                  | CUSIP: 89238VAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2665000 | PA      | $2673061.89   | 0.54%             | 2028-06-15      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner  | Toyota Auto Receivables 2025-C Owner Trust                  | CUSIP: 89238VAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2765000 | PA      | $2766275.77   | 0.56%             | 2028-06-15      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner  | Toyota Auto Receivables 2024-D Owner Trust                  | CUSIP: 89239TAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2786251 | PA      | $2787269.81   | 0.57%             | 2027-08-16      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES          | TransCanada PipeLines Ltd                                   | CUSIP: 89352HBA6<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |   2185000 | PA      | $2153053.79   | 0.44%             | 2030-04-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Tricon Residential             | Tricon Residential 2025-SFR1 Trust                          | CUSIP: 895974AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2089202 | PA      | $2093200.57   | 0.43%             | 2042-03-17      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes          | Tricon American Homes 2020-SFR2 Trust                       | CUSIP: 89613JAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    853947 | PA      | $807381.50    | 0.16%             | 2039-11-17      | Fixed         | 1.48%                 | No            |                  2 | On Loan: No      |
| Tricon Residential             | Tricon Residential 2021-SFR1 Trust                          | CUSIP: 89614YAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    726293 | PA      | $711850.70    | 0.14%             | 2038-07-17      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                   | UBS Group AG                                                | CUSIP: 902613AA6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    595000 | PA      | $568294.46    | 0.12%             | 2030-08-13      | Variable      | 3.13%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                   | UBS Group AG                                                | CUSIP: 902613AC2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1575000 | PA      | $1559088.25   | 0.32%             | 2027-01-30      | Variable      | 1.36%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO              | Union Electric Co                                           | CUSIP: 906548CY6<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1643270.71   | 0.33%             | 2034-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP             | Union Pacific Corp                                          | CUSIP: 907818GG7<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   2540000 | PA      | $2611409.31   | 0.53%             | 2035-02-20      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2018-1 AA PTT       | United Airlines 2018-1 Class AA Pass Through Trust          | CUSIP: 909318AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1099507 | PA      | $1054793.11   | 0.21%             | 2030-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2019-1 AA PTT       | United Airlines 2019-1 Class AA Pass Through Trust          | CUSIP: 90931CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    329919 | PA      | $321891.68    | 0.07%             | 2031-08-25      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2016-2 AA PTT       | United Airlines 2016-2 Class AA Pass Through Trust          | CUSIP: 90932EAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    625494 | PA      | $595770.80    | 0.12%             | 2028-10-07      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2015-1 AA PTT       | United Airlines 2015-1 Class AA Pass Through Trust          | CUSIP: 90932LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    321949 | PA      | $315377.84    | 0.06%             | 2027-12-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds              | CUSIP: 912810UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15658409 | PA      | $15285298.75  | 3.11%             | 2055-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BRITISH AIR 20-1 A PTT         | British Airways 2020-1 Class A Pass Through Trust           | CUSIP: 11044MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    875331 | PA      | $853158.84    | 0.17%             | 2032-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE       | Burlington Northern Santa Fe LLC                            | CUSIP: 12189LBH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1018091.74   | 0.21%             | 2052-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY       | Canadian Pacific Railway Co                                 | CUSIP: 13645RBK9<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |   3400000 | PA      | $3504104.23   | 0.71%             | 2035-03-30      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Capital One Prime Auto Receiva | Capital One Prime Auto Receivables Trust 2023-1             | CUSIP: 14043KAH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1806601 | PA      | $1813503.37   | 0.37%             | 2028-02-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Capital One Prime Auto Receiva | Capital One Prime Auto Receivables Trust 2024-1             | CUSIP: 14043NAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    439905 | PA      | $440508.87    | 0.09%             | 2027-10-15      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Capital One Prime Auto Receiva | Capital One Prime Auto Receivables Trust 2024-1             | CUSIP: 14043NAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    420659 | PA      | $420738.09    | 0.09%             | 2027-10-15      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust        | Carmax Auto Owner Trust 2025-3                              | CUSIP: 14290FAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1650000 | PA      | $1657332.60   | 0.34%             | 2028-08-15      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS       | Citigroup Global Markets Holdings Inc/United States         | CUSIP: 17291W7K1<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |    253000 | PA      | $262168.72    | 0.05%             | 2025-11-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS       | Citigroup Global Markets Holdings Inc/United States         | CUSIP: 17291WA76<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |    253000 | PA      | $282752.80    | 0.06%             | 2025-11-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2022-PJ6                | CUSIP: 36267JAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    457375 | PA      | $396332.71    | 0.08%             | 2053-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2022-PJ5                | CUSIP: 362925AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    741498 | PA      | $614110.53    | 0.12%             | 2052-10-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing III LLC                             | CUSIP: 42806MCT4<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |   3135000 | PA      | $3162535.96   | 0.64%             | 2029-09-25      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing III LLC                             | CUSIP: 42806MDB2<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |   3080000 | PA      | $3125925.88   | 0.64%             | 2029-12-26      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-3                             | CUSIP: 46592KAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2083725 | PA      | $1732154.68   | 0.35%             | 2051-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-7                             | CUSIP: 46592NAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    631808 | PA      | $525208.17    | 0.11%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-8                             | CUSIP: 46592TAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3175488 | PA      | $2639713.62   | 0.54%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-12                            | CUSIP: 46592WAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255619 | PA      | $212183.77    | 0.04%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-13                            | CUSIP: 46592XAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1002138 | PA      | $797312.06    | 0.16%             | 2052-04-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust Series 2025-7MPR                   | CUSIP: 46594CAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1470828 | PA      | $1471762.29   | 0.30%             | 2056-02-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2024-7                             | CUSIP: 465971AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1412162 | PA      | $1219314.66   | 0.25%             | 2053-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                         | CUSIP: 46647PDC7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    655000 | PA      | $657039.46    | 0.13%             | 2033-04-26      | Variable      | 4.59%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                         | CUSIP: 46647PDH6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3860000 | PA      | $3936068.67   | 0.80%             | 2033-07-25      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                         | CUSIP: 46647PEP7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    810000 | PA      | $816920.70    | 0.17%             | 2028-10-22      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                         | CUSIP: 46647PEW2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1585000 | PA      | $1658241.90   | 0.34%             | 2036-01-24      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-4                             | CUSIP: 46652VAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    816155 | PA      | $675941.90    | 0.14%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-INV4                          | CUSIP: 46654DAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1116575 | PA      | $925420.51    | 0.19%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust Series 2024-3                      | CUSIP: 46657QAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2225096 | PA      | $1919146.09   | 0.39%             | 2054-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                     | AMSR 2023-SFR2 Trust                                        | CUSIP: 00178YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265000 | PA      | $261824.16    | 0.05%             | 2040-06-17      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                     | AMSR 2024-SFR1 Trust                                        | CUSIP: 00179CAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    585000 | PA      | $582913.13    | 0.12%             | 2041-07-17      | Variable      | 4.29%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                     | AMSR 2024-SFR2 Trust                                        | CUSIP: 00179UAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    440000 | PA      | $433713.12    | 0.09%             | 2041-11-17      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                     | AMSR 2025-SFR2 Trust                                        | CUSIP: 00180BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    910000 | PA      | $896708.09    | 0.18%             | 2030-11-17      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                     | AMSR 2025-SFR1 Trust                                        | CUSIP: 00182MAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1030000 | PA      | $990242.93    | 0.20%             | 2042-06-17      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV        | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    995000 | PA      | $982365.98    | 0.20%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| APPALACHIAN POWER CO           | Appalachian Power Co                                        | CUSIP: 037735CZ8<br>LEI: 3SCHO1ABYYIG382BEI70 | Long             | DBT              | CORP              | US        |   2735000 | PA      | $2492419.67   | 0.51%             | 2031-04-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                    | CUSIP: 05377REH3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   4270000 | PA      | $4188105.24   | 0.85%             | 2027-08-20      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                    | CUSIP: 05377RFK5<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1287500 | PA      | $1288433.18   | 0.26%             | 2027-02-20      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                    | CUSIP: 05377RGY4<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    725000 | PA      | $745908.57    | 0.15%             | 2029-06-20      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                    | CUSIP: 05377RHY3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    525000 | PA      | $542975.21    | 0.11%             | 2030-06-20      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                    | CUSIP: 05377RJK1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    525000 | PA      | $541267.39    | 0.11%             | 2030-12-20      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                    | CUSIP: 05377RKL7<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1495000 | PA      | $1514319.74   | 0.31%             | 2029-08-20      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                    | CUSIP: 05377RKQ6<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   3075000 | PA      | $3159805.73   | 0.64%             | 2031-08-20      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                    | CUSIP: 05377RLA0<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   4470000 | PA      | $4443652.03   | 0.90%             | 2032-02-20      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Bank                           | BANK 2025-BNK49                                             | CUSIP: 05494FBT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1120000 | PA      | $1185828.90   | 0.24%             | 2058-03-15      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2023-C22                               | CUSIP: 05554FAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640000 | PA      | $719462.59    | 0.15%             | 2056-11-15      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP         | Bank of New York Mellon Corp/The                            | CUSIP: 06406RBR7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2360000 | PA      | $2405200.09   | 0.49%             | 2034-04-26      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Bank                           | BANK 2025-BNK50                                             | CUSIP: 064908AH9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $624995.38    | 0.13%             | 2068-05-15      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Bank                           | BANK 2024-BNK47                                             | CUSIP: 06540GAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1064282.30   | 0.22%             | 2057-06-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Bank                           | BANK 2024-BNK48                                             | CUSIP: 06541GAH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    445000 | PA      | $452904.40    | 0.09%             | 2057-10-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg | DBJPM 20-C9 Mortgage Trust                                  | CUSIP: 233063AF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120566 | PA      | $120340.69    | 0.02%             | 2053-08-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES 2020-AA        | Delta Air Lines 2020-1 Class AA Pass Through Trust          | CUSIP: 247361ZV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1948864 | PA      | $1866595.14   | 0.38%             | 2028-06-10      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| USB Auto Owner Trust           | USB Auto Owner Trust 2025-1                                 | CUSIP: 90367VAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    965000 | PA      | $968304.64    | 0.20%             | 2028-06-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                            | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1725000 | PA      | $1740902.34   | 0.35%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                            | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  28960000 | PA      | $29195300.00  | 5.94%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                            | CUSIP: 91282CNW7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  21385000 | PA      | $21321513.28  | 4.34%             | 2032-08-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP               | Ventas Realty LP                                            | CUSIP: 92277GAV9<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1396931.98   | 0.28%             | 2030-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust           | Verizon Master Trust Series 2024-4                          | CUSIP: 92348KCU5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1700000 | PA      | $1714338.31   | 0.35%             | 2029-06-20      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO       | Virginia Electric and Power Co                              | CUSIP: 927804GT5<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   2925000 | PA      | $2978463.68   | 0.61%             | 2035-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA       | Volkswagen Group of America Finance LLC                     | CUSIP: 928668BF8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   2805000 | PA      | $2693813.33   | 0.55%             | 2030-05-13      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA       | Volkswagen Group of America Finance LLC                     | CUSIP: 928668CF7<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   2260000 | PA      | $2289931.15   | 0.47%             | 2027-03-22      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC           | WEC Energy Group Inc                                        | CUSIP: 92939UAE6<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    833000 | PA      | $737356.69    | 0.15%             | 2030-10-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                            | CUSIP: 95000U2L6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2640000 | PA      | $2654450.04   | 0.54%             | 2031-04-04      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                                            | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1879467.78   | 0.38%             | 2033-07-25      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Se | Wells Fargo Mortgage Backed Securities 2021-1 Trust         | CUSIP: 95003AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    261832 | PA      | $217000.65    | 0.04%             | 2050-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2025-C64              | CUSIP: 95004BAW1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1625000 | PA      | $1719540.71   | 0.35%             | 2058-02-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2025-5C6              | CUSIP: 95004TAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    390000 | PA      | $401261.68    | 0.08%             | 2058-10-15      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT        | Wisconsin Power and Light Co                                | CUSIP: 976826BP1<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1379786.16   | 0.28%             | 2031-09-16      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT        | Wisconsin Power and Light Co                                | CUSIP: 976826BQ9<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |   1620000 | PA      | $1554933.90   | 0.32%             | 2032-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                   | CUSIP: 01F0406A0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |  15245000 | PA      | $14366315.70  | 2.92%             | 2055-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac      | Fannie Mae or Freddie Mac                                   | CUSIP: 01F0406B8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $282661.86    | 0.06%             | 2055-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENTERGY LOUISIANA LLC          | Entergy Louisiana LLC                                       | CUSIP: 29364WBM9<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |   1445000 | PA      | $1499398.14   | 0.30%             | 2034-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ENTERGY ARKANSAS LLC           | Entergy Arkansas LLC                                        | CUSIP: 29366MAF5<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |   1320000 | PA      | $1379794.48   | 0.28%             | 2034-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC        | Duke Energy Florida LLC                                     | CUSIP: 341099CN7<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   1865000 | PA      | $1945894.08   | 0.40%             | 2040-04-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC           | Keurig Dr Pepper Inc                                        | CUSIP: 49271VBB5<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1040009.72   | 0.21%             | 2035-05-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC              | L3Harris Technologies Inc                                   | CUSIP: 502431AU3<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   1164000 | PA      | $1206230.43   | 0.25%             | 2034-06-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                | McDonald's Corp                                             | CUSIP: 58013MGA6<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   2550000 | PA      | $2583552.14   | 0.53%             | 2035-03-03      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Accepta | Mello Mortgage Capital Acceptance 2021-MTG1                 | CUSIP: 585495AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1448847 | PA      | $1199939.82   | 0.24%             | 2051-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Accepta | Mello Mortgage Capital Acceptance 2021-INV1                 | CUSIP: 58549KAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1687018 | PA      | $1508715.44   | 0.31%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| MONONGAHELA POWER CO           | Monongahela Power Co                                        | CUSIP: 609935AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1365000 | PA      | $1442678.83   | 0.29%             | 2034-02-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                 | Morgan Stanley                                              | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1204628.63   | 0.24%             | 2033-01-21      | Variable      | 2.94%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                     | AMSR 2021-SFR3 Trust                                        | CUSIP: 00180UAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1150000 | PA      | $1116177.12   | 0.23%             | 2038-10-17      | Fixed         | 1.48%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                        | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    850000 | PA      | $849824.31    | 0.17%             | 2033-04-27      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                        | CUSIP: 06051GMK2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2330000 | PA      | $2373068.00   | 0.48%             | 2029-01-24      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                        | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1585000 | PA      | $1656820.65   | 0.34%             | 2036-01-24      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC              | HSBC Holdings PLC                                           | CUSIP: 404280CF4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2085000 | PA      | $2138367.95   | 0.43%             | 2030-03-31      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC              | HSBC Holdings PLC                                           | CUSIP: 404280ES4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    985000 | PA      | $1016480.31   | 0.21%             | 2036-03-03      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing III LP                              | CUSIP: 42806MAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3725000 | PA      | $3630828.28   | 0.74%             | 2027-12-27      | Fixed         | 1.68%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing III LLC 2025-2                      | CUSIP: 42806MCX5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2040000 | PA      | $2067740.94   | 0.42%             | 2031-09-25      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing III LLC                             | CUSIP: 42806MDF3<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |   2260000 | PA      | $2309459.65   | 0.47%             | 2031-12-25      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust | Home Partners of America 2021-2 Trust                       | CUSIP: 43732VAT3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    989335 | PA      | $960912.12    | 0.20%             | 2026-12-17      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner T | Honda Auto Receivables 2024-1 Owner Trust                   | CUSIP: 437918AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    830195 | PA      | $838042.28    | 0.17%             | 2028-08-15      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner T | Honda Auto Receivables 2025-2 Owner Trust                   | CUSIP: 437921AB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1140000 | PA      | $1141751.04   | 0.23%             | 2028-01-18      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner T | Honda Auto Receivables 2024-2 Owner Trust                   | CUSIP: 437930AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    725734 | PA      | $726724.51    | 0.15%             | 2026-11-18      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner T | Honda Auto Receivables 2025-3 Owner Trust                   | CUSIP: 43813QAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3155000 | PA      | $3163957.05   | 0.64%             | 2028-03-21      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner T | Honda Auto Receivables 2025-3 Owner Trust                   | CUSIP: 43813QAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2235000 | PA      | $2236718.72   | 0.45%             | 2028-03-21      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                   | Hudson Yards 2025-SPRL Mortgage Trust                       | CUSIP: 44855PAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1055000 | PA      | $1090234.05   | 0.22%             | 2040-01-13      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust 2024-B                       | CUSIP: 44934QAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550894 | PA      | $552141.55    | 0.11%             | 2027-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust 2024-B                       | CUSIP: 44934QAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    481287 | PA      | $481392.96    | 0.10%             | 2027-06-15      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust 2025-C                       | CUSIP: 44935JAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5060000 | PA      | $5062779.46   | 1.03%             | 2028-07-17      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust 2025-B                       | CUSIP: 44935XAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2160000 | PA      | $2168667.43   | 0.44%             | 2028-08-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS PWR & LIGHT       | Indianapolis Power & Light Co                               | CUSIP: 455434BV1<br>LEI: 2T85JNP2R2B2GTSFND21 | Long             | DBT              | CORP              | US        |   1995000 | PA      | $2089427.86   | 0.42%             | 2032-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Trust         | Invitation Homes 2024-SFR1 Trust                            | CUSIP: 46188DAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1667144 | PA      | $1633642.71   | 0.33%             | 2041-09-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IPALCO ENTERPRISES INC         | IPALCO Enterprises Inc                                      | CUSIP: 462613AP5<br>LEI: 5493000YFVK2DZX0JV43 | Long             | DBT              | CORP              | US        |   2265000 | PA      | $2217004.24   | 0.45%             | 2030-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2020-9                             | CUSIP: 46592DAH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1020015 | PA      | $949535.07    | 0.19%             | 2051-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust                                    | CUSIP: 46593VAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2615039 | PA      | $2625674.22   | 0.53%             | 2055-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2021-14                          | CUSIP: 46653QAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    774289 | PA      | $617523.56    | 0.13%             | 2052-05-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2021-14                          | CUSIP: 46653QBK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1018802 | PA      | $989371.69    | 0.20%             | 2052-05-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2021-10                            | CUSIP: 46654AAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3452898 | PA      | $2732402.44   | 0.56%             | 2051-12-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2021-INV8                        | CUSIP: 46654RAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1636348 | PA      | $1416976.04   | 0.29%             | 2052-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2021-15                          | CUSIP: 46654TAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2614611 | PA      | $2262521.84   | 0.46%             | 2052-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2021-15                          | CUSIP: 46654TAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    920798 | PA      | $765438.80    | 0.16%             | 2052-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2022-1                           | CUSIP: 46654WAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1383616 | PA      | $1195496.66   | 0.24%             | 2052-07-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2022-4                           | CUSIP: 46655GAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    636581 | PA      | $550030.57    | 0.11%             | 2052-10-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | J.P. Morgan Mortgage Trust 2022-6                           | CUSIP: 46655KAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325523 | PA      | $282078.01    | 0.06%             | 2052-11-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| JETBLUE 2019-1 CLASS AA        | JetBlue 2019-1 Class AA Pass Through Trust                  | CUSIP: 477143AH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1859875 | PA      | $1647354.73   | 0.33%             | 2032-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS CORP           | JetBlue 2020-1 Class A Pass Through Trust                   | CUSIP: 477164AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    977164 | PA      | $918976.06    | 0.19%             | 2032-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                     | AMSR 2023-SFR1 Trust                                        | CUSIP: 66981XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $741255.60    | 0.15%             | 2040-04-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMSR Trust                     | AMSR 2022-SFR3 Trust                                        | CUSIP: 66981YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    645000 | PA      | $639770.02    | 0.13%             | 2039-10-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC               | Altria Group Inc                                            | CUSIP: 02209SBL6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   2355000 | PA      | $2073036.53   | 0.42%             | 2032-02-04      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 17-2 AA PTT       | American Airlines 2017-2 Class AA Pass Through Trust        | CUSIP: 02376AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    428590 | PA      | $413240.84    | 0.08%             | 2029-10-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 19-1AA PTT        | American Airlines 2019-1 Class AA Pass Through Trust        | CUSIP: 02377LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    582301 | PA      | $545195.53    | 0.11%             | 2032-02-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO            | American Express Co                                         | CUSIP: 025816DV8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1570000 | PA      | $1596788.23   | 0.32%             | 2028-07-26      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO            | American Express Co                                         | CUSIP: 025816EH8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1805000 | PA      | $1906989.27   | 0.39%             | 2036-04-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE         | American Honda Finance Corp                                 | CUSIP: 02665WFZ9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   2265000 | PA      | $2301035.63   | 0.47%             | 2035-03-05      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent          | American Homes 4 Rent 2015-SFR2 Trust                       | CUSIP: 02666BAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1556185 | PA      | $1553140.06   | 0.32%             | 2052-10-17      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                            | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7095000 | PA      | $7119389.06   | 1.45%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** Carillon Series Trust

**Signature:** /s/ Carolyn Gill

**Name of Signer:** Carolyn Gill

**Title:** Principal Financial Officer