# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0000940400-25-002829
**Filing Date:** 2025-9
**Character Count:** 101724
**Document Hash:** 8164c84162b4f32008b0520b63bf1c39
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002829.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000940400-25-002829

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **CENTRAL INDEX KEY:** 0000885709

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06625
- **FILM NUMBER:** 251348690

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2136251900

**MAIL ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDENFUNDS
- **DATE OF NAME CHANGE:** 20010423

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **DATE OF NAME CHANGE:** 19940104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** P&R INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Payden Low Duration Fund (Series ID: S000011755)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000032180 | Payden Low Duration Fund (Investor Class) | PYSBX           |
| C000236135 | Payden Low Duration Fund (SI Class)       | PYLDX           |
| C000248241 | Payden Low Duration Fund (Adviser Class)  | PYLWX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PAYDEN & RYGEL INVESTMENT GROUP

- **b. Investment Company Act file number:** 811-06625

- **c. CIK number of Registrant:** 0000885709

- **d. LEI of Registrant:** 549300QJNYRKYZS3P282

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

  - **Street Address 1:** 333 South Grand Avenue

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

  - **Telephone number:** 213-625-1900

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

- **a. Name of Series:** Payden Low Duration Fund

- **b. EDGAR series identifier (if any):** S000011755

- **c. LEI of Series:** JBE5Q1GFOJSHZAIQ1855

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $830777739.96

**Total Liabilities:** $11204188.16

**Net Assets:** $819573551.80

**Delayed Delivery Securities:** $935000.00

**Cash Not Reported:** $1752000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 598.00000000 | **5-Year:** 54001.00000000 | **10-Year:** 7637.00000000 | **30-Year:** 37647.00000000

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

- **3-Month:** 13.00000000 | **1-Year:** 252.00000000 | **5-Year:** 6181.00000000 | **10-Year:** 1062.00000000 | **30-Year:** 5804.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236135 | 0.08%                | 0.67%                | 0.07%                |
| Class ID C000248241 | 0.02%                | 0.69%                | -0.02%               |
| Class ID C000032180 | 0.07%                | 0.67%                | 0.06%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-221813.66              | $-1478111.51                               |
| Month 2  | $-65342.87               | $2858583.61                                |
| Month 3  | $1262758.60              | $-3343675.48                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2023-P5                                | CUSIP: 14687RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2330762 | PA      | $2346145.49   | 0.29%             | 2029-01-10      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                         | American Express Co                                                   | CUSIP: 025816ED7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   2890000 | PA      | $2915845.93   | 0.36%             | 2029-04-25      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2024-NQM18 Trust                                                  | CUSIP: 673913AA7<br>LEI: 254900NK9PNLY9I00149 | Long             | ABS-MBS          | CORP              | US        |   1794211 | PA      | $1789184.04   | 0.22%             | 2064-10-25      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                             | SBA Tower Trust                                                       | CUSIP: 78403DAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2850000 | PA      | $2811969.32   | 0.34%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                       | Freedom Mortgage Holdings LLC                                         | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    720000 | PA      | $751072.89    | 0.09%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                    | Microchip Technology Inc                                              | CUSIP: 595017BK9<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1664038.89   | 0.20%             | 2028-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Diamond Infrastructure Funding              | Diamond Infrastructure Funding LLC                                    | CUSIP: 25265LAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7500000 | PA      | $7125303.75   | 0.87%             | 2049-04-15      | Fixed         | 1.76%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2025-P1                                | CUSIP: 14689MAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2005818.00   | 0.24%             | 2030-05-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                  | CUSIP: 682691AL4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    935000 | PA      | $937318.80    | 0.11%             | 2030-05-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                                 | CUSIP: 04685A3T6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   4945000 | PA      | $5015665.73   | 0.61%             | 2027-03-25      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                               | Carnival Corp                                                         | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    795000 | PA      | $806894.68    | 0.10%             | 2030-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITADEL FINANCE LLC                         | Citadel Finance LLC                                                   | CUSIP: 17287HAD2<br>LEI: 549300BQL283NCR7P163 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1105102.33   | 0.13%             | 2030-02-10      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL SA                            | ArcelorMittal SA                                                      | CUSIP: 03938LBE3<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |   4465000 | PA      | $4642435.26   | 0.57%             | 2027-11-29      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                    | Blue Racer Midstream LLC / Blue Racer Finance Corp                    | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    725000 | PA      | $752437.63    | 0.09%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                            | VB-S1 Issuer LLC - VBTEL                                              | CUSIP: 91823ABG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1037930.20   | 0.13%             | 2054-05-15      | Fixed         | 8.87%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru              | OneMain Financial Issuance Trust 2022-2                               | CUSIP: 68268VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2386884 | PA      | $2386017.56   | 0.29%             | 2034-10-14      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| ALLISON TRANSMISSION INC                    | Allison Transmission Inc                                              | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1535409.39   | 0.19%             | 2027-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6020000 | PA      | $5998365.63   | 0.73%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                               | Carnival Corp                                                         | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2365000 | PA      | $2298484.38   | 0.28%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALUMINA PTY LTD                             | Alumina Pty Ltd                                                       | CUSIP: 02220AAA5<br>LEI: 2138002VD9MW2WT8HR38 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $1011928.00   | 0.12%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CLS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6305000 | PA      | $6305369.41   | 0.77%             | 2026-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                            | CUSIP: 14040HDB8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   2605000 | PA      | $2683592.67   | 0.33%             | 2027-10-29      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                   | ONEOK Inc                                                             | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1950789.17   | 0.24%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                      | Daimler Truck Finance North America LLC                               | CUSIP: 233853BC3<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1023586.30   | 0.12%             | 2028-01-13      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BXMT Ltd                                    | BXMT 2021-FL4 Ltd                                                     | CUSIP: 05609GAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4436116 | PA      | $4419916.35   | 0.54%             | 2038-05-15      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CLY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4405000 | PA      | $4413947.66   | 0.54%             | 2026-11-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2024-R1                                    | CUSIP: 924926AA6<br>LEI: 213800A8V9BALJ9WKP38 | Long             | ABS-MBS          | CORP              | US        |   1134017 | PA      | $1128262.53   | 0.14%             | 2069-09-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP                      | Aviation Capital Group LLC                                            | CUSIP: 05369AAR2<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    995000 | PA      | $995932.53    | 0.12%             | 2027-04-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Wingstop Funding LLC                        | Wingstop Funding LLC                                                  | CUSIP: 974153AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4432500 | PA      | $4218623.90   | 0.51%             | 2050-12-05      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                    | Ares Strategic Income Fund                                            | CUSIP: 04020EAL1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |   4025000 | PA      | $4019828.12   | 0.49%             | 2028-09-09      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                        | Cross 2024-H8 Mortgage Trust                                          | CUSIP: 22757GAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2232471 | PA      | $2236289.31   | 0.27%             | 2069-12-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                      | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3610000 | PA      | $3653019.21   | 0.45%             | 2029-04-23      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                       | ARI Fleet Lease Trust 2024-B                                          | CUSIP: 04033HAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1400000 | PA      | $1421169.96   | 0.17%             | 2033-04-15      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust             | CUSIP: 00774MBN4<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3570000 | PA      | $3598025.64   | 0.44%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                       | HPEFS Equipment Trust 2023-1                                          | CUSIP: 40443DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    359006 | PA      | $359097.32    | 0.04%             | 2028-02-22      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 2YR NOTE (CBT)                                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      1269 | NC      | $-243120.20   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                  | CUSIP: 06051GMT3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4680000 | PA      | $4700614.56   | 0.57%             | 2029-05-09      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| COLT FUNDING LLC                            | COLT 2025-8 MORTGAGE LOAN TRUST                                       | CUSIP: 19689DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1900000 | PA      | $1898860.00   | 0.23%             | 2070-08-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2019-HRP1                         | CUSIP: 20754PAC4<br>LEI: 549300Z5THZ1JXIHVK60 | Long             | ABS-MBS          | CORP              | US        |    102182 | PA      | $102187.53    | 0.01%             | 2039-11-25      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                   | Sunoco LP                                                             | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    550000 | PA      | $569719.15    | 0.07%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                           | Brown & Brown Inc                                                     | CUSIP: 115236AJ0<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    850000 | PA      | $852967.12    | 0.10%             | 2028-06-23      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                       | Rio Tinto Finance USA PLC                                             | CUSIP: 76720AAR7<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   1060000 | PA      | $1065354.63   | 0.13%             | 2028-03-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                             | BAE Systems PLC                                                       | CUSIP: 05523RAH0<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |   1200000 | PA      | $1210490.59   | 0.15%             | 2027-03-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                         | American Express Co                                                   | CUSIP: 025816EJ4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   3345000 | PA      | $3338876.91   | 0.41%             | 2029-07-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-GPA2                                | CUSIP: 12433DAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4400000 | PA      | $4417228.64   | 0.54%             | 2041-11-15      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL                      | Banque Federative du Credit Mutuel SA                                 | CUSIP: 06675FBC0<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |   2225000 | PA      | $2244588.63   | 0.27%             | 2027-01-23      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CKV2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3880000 | PA      | $3926150.78   | 0.48%             | 2027-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                            | COLT 2024-6 Mortgage Loan Trust                                       | CUSIP: 19688XAA4<br>LEI: 213800U2X2TO1PQH1O75 | Long             | ABS-MBS          | CORP              | US        |   2628745 | PA      | $2627626.11   | 0.32%             | 2069-11-25      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                       | ARI Fleet Lease Trust 2025-A                                          | CUSIP: 04033CAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1501501.80   | 0.18%             | 2034-01-17      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| Stack Infrastructure Issuer LL              | Stack Infrastructure Issuer LLC                                       | CUSIP: 85236KAE2<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-O            | CORP              | US        |   2400000 | PA      | $2348756.40   | 0.29%             | 2046-03-26      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CME8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  32835000 | PA      | $32917087.50  | 4.02%             | 2026-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2024-MGP                        | CUSIP: 95003TAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2950000 | PA      | $2956297.96   | 0.36%             | 2041-08-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                         | Sirius XM Radio LLC                                                   | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1516456.59   | 0.19%             | 2026-09-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                 | RCKT Mortgage Trust 2025-CES6                                         | CUSIP: 748949AA2<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |   1680918 | PA      | $1686650.85   | 0.21%             | 2055-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-S2                        | CUSIP: 80287MAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4429138 | PA      | $4428050.57   | 0.54%             | 2028-12-16      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Life Financial Services Trust               | Life 2022-BMR Mortgage Trust                                          | CUSIP: 53218DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1948551.60   | 0.24%             | 2039-05-15      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2021-R02                          | CUSIP: 20754KAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7443068 | PA      | $7504470.53   | 0.92%             | 2041-11-25      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                    | Huntington National Bank/The                                          | CUSIP: 44644MAK7<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |   3045000 | PA      | $3061620.58   | 0.37%             | 2028-04-12      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| ICON INVESTMENTS SIX DAC                    | Icon Investments Six DAC                                              | CUSIP: 45115AAA2<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |   1525000 | PA      | $1550773.61   | 0.19%             | 2027-05-08      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                          | Regal Rexnord Corp                                                    | CUSIP: 758750AL7<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   2945000 | PA      | $2943689.15   | 0.36%             | 2026-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                      | CUSIP: 95000U3L5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1968133.54   | 0.24%             | 2028-04-22      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| BrightSpire Capital, Inc                    | BRSP 2021-FL1 Ltd                                                     | CUSIP: 05591XAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2120000 | PA      | $2112094.52   | 0.26%             | 2038-08-19      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                | Synopsys Inc                                                          | CUSIP: 871607AB3<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   1960000 | PA      | $1975556.03   | 0.24%             | 2028-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                        | CUSIP: 09659W3C6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   4945000 | PA      | $4964426.68   | 0.61%             | 2029-05-09      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                    | TerraForm Power Operating LLC                                         | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1530337.63   | 0.19%             | 2028-01-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                     | BPCE SA                                                               | CUSIP: 05571AAT2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    285000 | PA      | $287932.74    | 0.04%             | 2027-01-18      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FRANKLIN BSP CAPITAL CO                     | Franklin BSP Capital Corp                                             | CUSIP: 35250VAB0<br>LEI: 549300KJEVMKATLINB36 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1319060.98   | 0.16%             | 2029-06-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                               | DTE Energy Co                                                         | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1498843.27   | 0.18%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK                                 | Truist Bank                                                           | CUSIP: 89788JAF6<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $2946211.34   | 0.36%             | 2028-07-24      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2020-SBT1                         | CUSIP: 20753VCZ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $935551.71    | 0.11%             | 2040-02-25      | Floating      | 8.11%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                     | CARS-DB5 LP                                                           | CUSIP: 12510HAK6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8499272 | PA      | $8159953.79   | 1.00%             | 2051-08-15      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable              | Westlake Automobile Receivables Trust 2021-3                          | CUSIP: 96043JAL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    869360 | PA      | $865560.03    | 0.11%             | 2027-01-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N              | Ally Bank Auto Credit-Linked Notes Series 2024-A                      | CUSIP: 02007GZ71<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1181358 | PA      | $1194521.13   | 0.15%             | 2032-05-17      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                   | Kubota Credit Owner Trust 2025-2                                      | CUSIP: 50117LAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1761640.65   | 0.21%             | 2030-11-15      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                   | CUSIP: 46647PEL6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2515000 | PA      | $2539857.68   | 0.31%             | 2028-07-22      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                               | CoreWeave Inc                                                         | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    940000 | PA      | $945452.86    | 0.12%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                   | CUSIP: 46647PEP7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1917536.19   | 0.23%             | 2028-10-22      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                        | Royal Bank of Canada                                                  | CUSIP: 78017DAK4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   5215000 | PA      | $5219961.13   | 0.64%             | 2029-08-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R06                          | CUSIP: 20755RAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1156567.65   | 0.14%             | 2044-09-25      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2024-VLT4                                                    | CUSIP: 05612TAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3600000 | PA      | $3609318.24   | 0.44%             | 2029-07-15      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                                 | Cencora Inc                                                           | CUSIP: 03073EAV7<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1070065.43   | 0.13%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2025-NQM6 Trust                                                   | CUSIP: 67448UAA0<br>LEI: 254900W46UQEWQMYYZ02 | Long             | ABS-MBS          | CORP              | US        |   3984303 | PA      | $3992210.73   | 0.49%             | 2065-03-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| US BANK NA CINCINNATI                       | US Bank NA/Cincinnati OH                                              | CUSIP: 90331HPS6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2451160.10   | 0.30%             | 2028-05-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                    | CUSIP: 3137F7L37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5135396 | PA      | $4743946.25   | 0.58%             | 2054-04-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                     | National Bank of Canada                                               | CUSIP: 63307A3A1<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   4865000 | PA      | $4906481.42   | 0.60%             | 2027-07-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru              | Provident Funding Mortgage Trust 2020-F1                              | CUSIP: 74387TAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3261132 | PA      | $2892529.11   | 0.35%             | 2036-01-25      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                   | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1401215.38   | 0.17%             | 2028-01-23      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                         | Bank of Nova Scotia/The                                               | CUSIP: 06418GAP2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   4660000 | PA      | $4706058.37   | 0.57%             | 2029-02-14      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                       | Toronto-Dominion Bank/The                                             | CUSIP: 89115A3E0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   3885000 | PA      | $3927398.56   | 0.48%             | 2028-01-31      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2025-VLT6                                                    | CUSIP: 12433KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3100000 | PA      | $3104037.44   | 0.38%             | 2042-03-15      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R02                          | CUSIP: 20754GAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2600000 | PA      | $2629735.68   | 0.32%             | 2044-02-25      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                      | Taco Bell Funding LLC                                                 | CUSIP: 87342RAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4598438 | PA      | $4594392.71   | 0.56%             | 2046-05-25      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2455000 | PA      | $2470422.60   | 0.30%             | 2028-04-23      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA                    | Blue Owl Technology Finance Corp                                      | CUSIP: 691205AE8<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1492493.23   | 0.18%             | 2026-06-17      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| M&T Equipment Notes                         | M&T Equipment 2025-LEAF1 Notes                                        | CUSIP: 55340QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3026163.60   | 0.37%             | 2029-09-17      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                             | Danske Bank A/S                                                       | CUSIP: 23636ABG5<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |   1960000 | PA      | $1987483.55   | 0.24%             | 2028-03-01      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-DNA6                               | CUSIP: 35564KLU1<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |   3100000 | PA      | $3183499.74   | 0.39%             | 2041-10-25      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2024-S3                        | CUSIP: 80288CAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3141115 | PA      | $3140377.92   | 0.38%             | 2028-10-16      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO                    | Manufacturers & Traders Trust Co                                      | CUSIP: 564760CC8<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $1195213.50   | 0.15%             | 2028-07-06      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                           | EOG Resources Inc                                                     | CUSIP: 26875PAX9<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |   1505000 | PA      | $1509858.34   | 0.18%             | 2028-07-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                              | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    935000 | PA      | $930630.93    | 0.11%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                       | Antero Resources Corp                                                 | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |   3240000 | PA      | $3227734.53   | 0.39%             | 2030-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                          | CUSIP: 225401BC1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2240000 | PA      | $2293189.07   | 0.28%             | 2027-12-22      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                            | CUSIP: 80282KBK1<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    795000 | PA      | $803259.35    | 0.10%             | 2027-05-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| COMMONSPIRIT HEALTH                         | CommonSpirit Health                                                   | CUSIP: 20268JAK9<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |   3190000 | PA      | $3297234.02   | 0.40%             | 2027-11-01      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| CONCENTRIX CORP                             | Concentrix Corp                                                       | CUSIP: 20602DAA9<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |   2940000 | PA      | $2988454.35   | 0.36%             | 2026-08-02      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                            | Colt 2024-7 Mortgage Loan Trust                                       | CUSIP: 19688YAA2<br>LEI: 213800EA95GXXC9AJO50 | Long             | ABS-MBS          | CORP              | US        |   2306454 | PA      | $2307697.32   | 0.28%             | 2069-12-26      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Esta              | Greystone CRE Notes 2021-HC2 LTD                                      | CUSIP: 39809XAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    682515 | PA      | $683991.69    | 0.08%             | 2039-12-15      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                       | Amrize Finance US LLC                                                 | CUSIP: 43475RAB2<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |   3270000 | PA      | $3287451.21   | 0.40%             | 2028-04-07      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-XL4                                 | CUSIP: 05611VAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2367424 | PA      | $2377318.92   | 0.29%             | 2039-02-15      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| TEXAS NATURAL GAS SECURITIZTN               | Texas Natural Gas Securitization Finance Corp                         | CUSIP: 88258MAA3<br>LEI: N/A                  | Long             | ABS-O            | MUN               | US        |   9329830 | PA      | $9489743.11   | 1.16%             | 2035-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVAB              | GreatAmerica Leasing Receivables Funding LLC                          | CUSIP: 39154GAJ5<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $998209.80    | 0.12%             | 2029-04-16      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CND9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  28655000 | PA      | $28555379.17  | 3.48%             | 2028-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                         | Travel + Leisure Co                                                   | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |   1565000 | PA      | $1577503.33   | 0.19%             | 2026-07-31      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                      | Daimler Truck Finance North America LLC                               | CUSIP: 233853AY6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   1770000 | PA      | $1788581.76   | 0.22%             | 2027-09-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R01                          | CUSIP: 20754LAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4800000 | PA      | $4854466.56   | 0.59%             | 2041-12-25      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                     | ONE 2021-PARK Mortgage Trust                                          | CUSIP: 682413AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4850000 | PA      | $4767883.20   | 0.58%             | 2036-03-15      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivab              | Securitized Term Auto Receivables Trust 2025-B                        | CUSIP: 81378WAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   1997128 | PA      | $1999362.99   | 0.24%             | 2032-12-29      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE                      | Alliant Energy Finance LLC                                            | CUSIP: 01882YAF3<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1281584.19   | 0.16%             | 2027-06-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                    | Penske Truck Leasing Co Lp / PTL Finance Corp                         | CUSIP: 709599BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1033895.37   | 0.13%             | 2027-01-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                          | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1538279.49   | 0.19%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2024-DNA3                               | CUSIP: 35564NFA6<br>LEI: 529900P3PHNE8PW64Z68 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1002948.00   | 0.12%             | 2044-10-25      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2024-NQM15 Trust                                                  | CUSIP: 67449DAA7<br>LEI: 254900YXEB756F6RCA13 | Long             | ABS-MBS          | CORP              | US        |   1767445 | PA      | $1760007.62   | 0.21%             | 2064-10-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                               | Boeing Co/The                                                         | CUSIP: 097023DP7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1949326.11   | 0.24%             | 2027-05-01      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable              | Westlake Automobile Receivables Trust 2023-1                          | CUSIP: 96042XAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4810000 | PA      | $4928966.21   | 0.60%             | 2028-11-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| TierPoint Issuer LLC                        | TierPoint Issuer LLC                                                  | CUSIP: 88651CAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1799737.92   | 0.22%             | 2053-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AGCO CORP                                   | AGCO Corp                                                             | CUSIP: 001084AR3<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1028309.59   | 0.13%             | 2027-03-21      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                        | Glencore Funding LLC                                                  | CUSIP: 378272BR8<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   1770000 | PA      | $1790724.74   | 0.22%             | 2027-04-04      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                         | SYNCHRONY FINANCIAL                                                   | CUSIP: 87165BAX1<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    685000 | PA      | $684722.07    | 0.08%             | 2029-07-29      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                               | CoreWeave Inc                                                         | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    760000 | PA      | $757709.65    | 0.09%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                                    | CUSIP: 29273VAR1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   3585000 | PA      | $3647976.01   | 0.45%             | 2026-12-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                   | Kubota Credit Owner Trust 2024-2                                      | CUSIP: 50117DAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1022085.20   | 0.12%             | 2030-05-15      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2024-NQM12 Trust                                                  | CUSIP: 67448PAA1<br>LEI: 254900MY906NOBBPOA44 | Long             | ABS-MBS          | CORP              | US        |   4910654 | PA      | $4899905.47   | 0.60%             | 2064-07-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC              | Enterprise Fleet Financing 2023-3 LLC                                 | CUSIP: 29374LAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1030000 | PA      | $1066819.62   | 0.13%             | 2030-06-20      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                    | Antero Midstream Partners LP / Antero Midstream Finance Corp          | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2453127.13   | 0.30%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WHISTLER PIPELINE LLC                       | Whistler Pipeline LLC                                                 | CUSIP: 96337RAA0<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |   3650000 | PA      | $3704522.64   | 0.45%             | 2029-09-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON                     | Bank of New York Mellon/The                                           | CUSIP: 06405LAH4<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1485826.40   | 0.18%             | 2029-04-20      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2024-P2                                | CUSIP: 14688PAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3150000 | PA      | $3175626.20   | 0.39%             | 2029-07-10      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2021-ARIA                                                    | CUSIP: 05608RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3999962.80   | 0.49%             | 2036-10-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan               | New Residential Mortgage Loan Trust 2017-4                            | CUSIP: 64829NAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1164897 | PA      | $1117255.86   | 0.14%             | 2057-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| General Motors                              | GMF Floorplan Owner Revolving Trust                                   | CUSIP: 361886DQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5150000 | PA      | $5196517.38   | 0.63%             | 2029-11-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                     | Arthur J Gallagher & Co                                               | CUSIP: 04316JAK5<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    975000 | PA      | $978759.62    | 0.12%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| OTIS WORLDWIDE CORP DIS 0.0 01AUG25         | OTIS WORLDWIDE CORP DIS 0.0 01AUG25                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1499811.60   | 0.18%             | 2025-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                    | JP Morgan Mortgage Trust Series 2024-NQM1                             | CUSIP: 465983AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2121449 | PA      | $2123540.03   | 0.26%             | 2064-02-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-VOLT                                | CUSIP: 05609VAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    968828 | PA      | $965561.72    | 0.12%             | 2036-09-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                      | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC | CUSIP: 013092AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1579318.02   | 0.19%             | 2026-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                         | CUSIP: 172967PZ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $4305313.51   | 0.53%             | 2028-05-07      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R08                          | CUSIP: 20755DAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2577120 | PA      | $2639576.78   | 0.32%             | 2042-07-25      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                     | Hyundai Capital America                                               | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   4075000 | PA      | $4089476.72   | 0.50%             | 2027-06-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CLL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12475000 | PA      | $12339041.96  | 1.51%             | 2027-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BrightSpire Capital, Inc                    | BRSP 2021-FL1 Ltd                                                     | CUSIP: 05591XAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4177357 | PA      | $4172476.98   | 0.51%             | 2038-08-19      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                | CaixaBank SA                                                          | CUSIP: 12803RAK0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   2870000 | PA      | $2866262.34   | 0.35%             | 2029-07-03      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                 | KeyBank NA/Cleveland OH                                               | CUSIP: 49327M3F9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   4723000 | PA      | $4855188.08   | 0.59%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                | SM Energy Co                                                          | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    690000 | PA      | $691145.40    | 0.08%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                              | Var Energi ASA                                                        | CUSIP: 92212WAD2<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |   1550000 | PA      | $1644133.48   | 0.20%             | 2028-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                    | Vantage Data Centers Issuer LLC                                       | CUSIP: 92212KAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6550000 | PA      | $6519741.62   | 0.80%             | 2045-09-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                      | Morgan Stanley Bank NA                                                | CUSIP: 61690U8E3<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   2545000 | PA      | $2571165.37   | 0.31%             | 2028-07-14      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Payden Cash Reserves Money Market Fund      | Payden Cash Reserves Money Market Fund                                | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |  15358395 | NS      | $15358395.16  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| MATCH GROUP HLD II LLC                      | Match Group Holdings II LLC                                           | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1539398.47   | 0.19%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                        | Las Vegas Sands Corp                                                  | CUSIP: 517834AJ6<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2339274.71   | 0.29%             | 2027-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                               | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1097192.09   | 0.13%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                  | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    544000 | PA      | $551106.82    | 0.07%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                       | Evergy Kansas Central Inc                                             | CUSIP: 30036FAE1<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |   1610000 | PA      | $1621449.31   | 0.20%             | 2028-03-13      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                       | HPEFS Equipment Trust 2024-2                                          | CUSIP: 40444MAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3100000 | PA      | $3118069.28   | 0.38%             | 2031-10-20      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP                         | Meritage Homes Corp                                                   | CUSIP: 59001ABA9<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    680000 | PA      | $683838.60    | 0.08%             | 2027-06-06      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DLLST LLC                                   | DLLST 2024-1 LLC                                                      | CUSIP: 23346HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1003014.70   | 0.12%             | 2027-08-20      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                              | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    580000 | PA      | $581433.76    | 0.07%             | 2026-12-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                 | RCKT Mortgage Trust 2025-CES5                                         | CUSIP: 74942CAA7<br>LEI: 2549008EA2IHW9G2TZ48 | Long             | ABS-MBS          | CORP              | US        |   3962047 | PA      | $3988955.64   | 0.49%             | 2055-05-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Capital One Prime Auto Receiva              | Capital One Prime Auto Receivables Trust 2024-1                       | CUSIP: 14043NAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1900000 | PA      | $1912737.98   | 0.23%             | 2030-01-15      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                         | CUSIP: 17327CAW3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4685000 | PA      | $4710435.05   | 0.57%             | 2029-03-04      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2023-S1                        | CUSIP: 80286QAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2040417 | PA      | $2049744.69   | 0.25%             | 2028-04-18      | Fixed         | 8.14%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2024-NQM16 Trust                                                  | CUSIP: 67120GAA6<br>LEI: 254900AIRPH5Q5COT575 | Long             | ABS-MBS          | CORP              | US        |    827624 | PA      | $826640.24    | 0.10%             | 2064-10-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2024-NQM14 Trust                                                  | CUSIP: 67119XAC8<br>LEI: 254900C7ZCEHM7Y5MX79 | Long             | ABS-MBS          | CORP              | US        |   1803619 | PA      | $1790178.10   | 0.22%             | 2064-09-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                      | PNC Financial Services Group Inc/The                                  | CUSIP: 693475BV6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    985000 | PA      | $996695.05    | 0.12%             | 2028-01-21      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| XHR LP                                      | XHR LP                                                                | CUSIP: 98372MAE5<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |    480000 | PA      | $488460.96    | 0.06%             | 2030-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                     | Morgan Stanley Private Bank NA                                        | CUSIP: 61776NVE0<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   2935000 | PA      | $2932791.97   | 0.36%             | 2028-07-06      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                    | Hess Midstream Operations LP                                          | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2280000 | PA      | $2319254.76   | 0.28%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2024-3                                        | CUSIP: 14319GAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2850000 | PA      | $2902583.36   | 0.35%             | 2031-01-15      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                         | Axon Enterprise Inc                                                   | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    760000 | PA      | $778089.05    | 0.09%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CNH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  32270000 | PA      | $32268739.53  | 3.94%             | 2028-06-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                     | Blackstone Secured Lending Fund                                       | CUSIP: 09261XAB8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4878716.05   | 0.60%             | 2026-09-16      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  49735000 | PA      | $49552379.05  | 6.05%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ACREC LLC                                   | Acrec 2025 Fl 3 LLC                                                   | CUSIP: 00112HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2500000 | PA      | $2501868.00   | 0.31%             | 2042-08-18      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                            | CUSIP: 80282KBN5<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   4525000 | PA      | $4599902.78   | 0.56%             | 2029-03-20      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Diamond Issuer LLC                          | Diamond Issuer LLC                                                    | CUSIP: 25267TAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7650000 | PA      | $7209558.14   | 0.88%             | 2051-11-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2025-S1                                  | CUSIP: 26210HAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2135305 | PA      | $2140853.73   | 0.26%             | 2029-06-16      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                    | Hess Midstream Operations LP                                          | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    640000 | PA      | $659747.84    | 0.08%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LoanCore 2021-CRE5 Issuer, Ltd              | LoanCore 2021-CRE5 Issuer Ltd                                         | CUSIP: 53947XAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2002940 | PA      | $2004366.27   | 0.24%             | 2036-07-15      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                    | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                   | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3350000 | PA      | $3269163.50   | 0.40%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2018-B6 Mortgage Trust                                      | CUSIP: 08162CAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        | 116176816 | PA      | $946167.22    | 0.12%             | 2051-10-10      | Variable      | 0.39%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                        | M&T Bank Corp                                                         | CUSIP: 55261FAU8<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1540000 | PA      | $1548552.64   | 0.19%             | 2029-01-16      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Cantor Commercial Real Estate               | Cantor Commercial Real Estate Lending 2019-CF1                        | CUSIP: 12529MAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  21508851 | PA      | $630209.33    | 0.08%             | 2052-05-15      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| Nissan Master Owner Trust Rece              | Nissan Master Owner Trust Receivables                                 | CUSIP: 65479VAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6500000 | PA      | $6552017.55   | 0.80%             | 2029-02-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP                     | Penske Automotive Group Inc                                           | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1377458.87   | 0.17%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV                            | ABN AMRO Bank NV                                                      | CUSIP: 00084DBA7<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   2400000 | PA      | $2444242.78   | 0.30%             | 2027-09-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| THE CAMPBELLS COMPANY                       | The Campbell's Company                                                | CUSIP: 134429BM0<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1617784.80   | 0.20%             | 2027-03-19      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                        | FS Rialto 2024-FL9 Issuer LLC                                         | CUSIP: 30338WAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4350000 | PA      | $4363009.11   | 0.53%             | 2039-10-19      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec              | American Credit Acceptance Receivables Trust 2024-1                   | CUSIP: 02531AAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2063896.40   | 0.25%             | 2031-11-12      | Fixed         | 7.98%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                    | Standard Industries Inc/NY                                            | CUSIP: 853496AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1550182.75   | 0.19%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                          | PBF Holding Co LLC / PBF Finance Corp                                 | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    745000 | PA      | $739186.84    | 0.09%             | 2030-03-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| Hotwire Funding LLC                         | Hotwire Funding LLC                                                   | CUSIP: 44148JAM1<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1675596.80   | 0.20%             | 2054-06-20      | Fixed         | 9.19%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                          | Banco Santander SA                                                    | CUSIP: 05964HBF1<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   4000000 | PA      | $4065069.76   | 0.50%             | 2028-07-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA7                               | CUSIP: 35564KL31<br>LEI: 5493000IRUQLXTG4SV18 | Long             | ABS-MBS          | CORP              | US        |    427616 | PA      | $432909.33    | 0.05%             | 2052-03-25      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                     | BDS 2021-FL9 Ltd                                                      | CUSIP: 05493NAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2003944.00   | 0.24%             | 2038-11-16      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                      | Switch ABS Issuer LLC                                                 | CUSIP: 871044AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5004513.00   | 0.61%             | 2054-06-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                        | National Fuel Gas Co                                                  | CUSIP: 636180BS9<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5036766.35   | 0.61%             | 2026-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R01                          | CUSIP: 20753UAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2700000 | PA      | $2732636.25   | 0.33%             | 2044-01-25      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.                         | PFS Financing Corp                                                    | CUSIP: 69335PFP5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5028677.00   | 0.61%             | 2029-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                    | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    930000 | PA      | $947404.37    | 0.12%             | 2029-05-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                            | COLT 2025-6 Mortgage Loan Trust                                       | CUSIP: 19689BAA1<br>LEI: 213800IXUWCX6RHIO921 | Long             | ABS-MBS          | CORP              | US        |   4400000 | PA      | $4399756.68   | 0.54%             | 2070-08-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I              | CyrusOne Data Centers Issuer I LLC                                    | CUSIP: 23284BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3760000 | PA      | $3658305.54   | 0.45%             | 2049-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                           | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    645000 | PA      | $663997.83    | 0.08%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                 | RCKT Mortgage Trust 2025-CES7                                         | CUSIP: 74943AAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3200000 | PA      | $3208160.96   | 0.39%             | 2055-07-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                        | CUSIP: 61747YFY6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2470564.15   | 0.30%             | 2029-04-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                      | CUSIP: 91282CLP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  72240000 | PA      | $71726418.39  | 8.75%             | 2026-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                    | HPS Corporate Lending Fund                                            | CUSIP: 40440VAL9<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |   3860000 | PA      | $3861232.11   | 0.47%             | 2027-06-05      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC              | Wheels Fleet Lease Funding 1 LLC                                      | CUSIP: 96328GCE5<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4008938.00   | 0.49%             | 2040-01-18      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                    | EQT Corp                                                              | CUSIP: 26884LAM1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   3906000 | PA      | $3850636.94   | 0.47%             | 2026-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                           | NatWest Group PLC                                                     | CUSIP: 639057AJ7<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1440000 | PA      | $1449632.62   | 0.18%             | 2027-03-02      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru              | Onemain Financial Issuance Trust 2025-1                               | CUSIP: 68270DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4400000 | PA      | $4416025.68   | 0.54%             | 2038-07-14      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2024-S1                        | CUSIP: 80286UAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1330610 | PA      | $1332228.40   | 0.16%             | 2029-03-16      | Fixed         | 8.32%                 | No            |                  2 | On Loan: No      |
| BSPRT Issuer, Ltd.                          | BSPRT 2023-FL10 Issuer Ltd                                            | CUSIP: 05610VAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3469664 | PA      | $3475387.27   | 0.42%             | 2035-09-15      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EARTHQUAKE AUTH               | California Earthquake Authority                                       | CUSIP: 13017HAP1<br>LEI: 254900P2MGLOUH3QS859 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1591538.15   | 0.19%             | 2027-07-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2025-VLT7                                                    | CUSIP: 123913AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4200000 | PA      | $4221652.68   | 0.52%             | 2044-07-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2025-4                                     | CUSIP: 92540UAC1<br>LEI: 2138009ZO3B2B5MAHZ49 | Long             | ABS-MBS          | CORP              | US        |   1796609 | PA      | $1794681.45   | 0.22%             | 2070-05-25      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                             | SBA Tower Trust                                                       | CUSIP: 78403DAT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3800000 | PA      | $3658790.10   | 0.45%             | 2026-11-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                   | HIH Trust 2024-61P                                                    | CUSIP: 40444VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1948832 | PA      | $1953367.30   | 0.24%             | 2041-10-15      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                    | Hilton Domestic Operating Co Inc                                      | CUSIP: 432833AP6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    935000 | PA      | $951419.54    | 0.12%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2024-2                         | CUSIP: 80286YAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2536884.75   | 0.31%             | 2029-07-16      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | CarMax Auto Owner Trust 2024-4                                        | CUSIP: 14290DAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $2334293.92   | 0.28%             | 2031-08-15      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| BofA Auto Trust                             | BofA Auto Trust 2024-1                                                | CUSIP: 09709AAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1900000 | PA      | $1929149.99   | 0.24%             | 2030-06-17      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin              | Santander Bank Auto Credit-Linked Notes Series 2023-A                 | CUSIP: 80290CBY9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3768961.00   | 0.46%             | 2033-06-15      | Fixed         | 13.75%                | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan               | New Residential Mortgage Loan Trust 2017-1                            | CUSIP: 64829JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1728164 | PA      | $1673342.95   | 0.20%             | 2057-02-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2024-NQM13 Trust                                                  | CUSIP: 67119PAP6<br>LEI: 254900W2SY2Z6X7UAX78 | Long             | ABS-MBS          | CORP              | US        |   2266484 | PA      | $2255914.22   | 0.28%             | 2064-06-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AAR ESCROW ISSUER LLC                       | AAR Escrow Issuer LLC                                                 | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    830000 | PA      | $852259.77    | 0.10%             | 2029-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BRAZOS SECURITIZATN LLC                     | Brazos Securitization LLC                                             | CUSIP: 106230AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2303785 | PA      | $2326644.45   | 0.28%             | 2031-09-01      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-23

**Name of Applicant:** PAYDEN & RYGEL INVESTMENT GROUP

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer