# EDGAR Filing Document

**Accession Number:** 0001676326
**File Stem:** 0001752724-25-197798
**Filing Date:** 2025-8
**Character Count:** 274558
**Document Hash:** 5c46482aca2f25c211d3183c700d8592
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-197798.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001752724-25-197798

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley ETF Trust
- **CENTRAL INDEX KEY:** 0001676326

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23820
- **FILM NUMBER:** 251242350

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212.296.1404

**MAIL ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

## Series and Classes Contracts Data

### Eaton Vance Total Return Bond ETF (Series ID: S000083413)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000247024 | Eaton Vance Total Return Bond ETF | EVTR            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Morgan Stanley ETF Trust

- **b. Investment Company Act file number:** 811-23820

- **c. CIK number of Registrant:** 0001676326

- **d. LEI of Registrant:** 549300HASXQLXGOR9H31

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

  - **Street Address 1:** 1585 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 800-548-7786

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

- **a. Name of Series:** Eaton Vance Total Return Bond ETF

- **b. EDGAR series identifier (if any):** S000083413

- **c. LEI of Series:** 254900IQ3M4DXR8SC125

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2636730931.65

**Total Liabilities:** $586855977.28

**Net Assets:** $2049874954.37

**Cash Not Reported:** $369.91

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 554.95355900 | **1-Year:** 30479.49622600 | **5-Year:** 284610.34164800 | **10-Year:** 215205.91062500 | **30-Year:** 66620.16681000

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

- **3-Month:** 244.07236200 | **1-Year:** 9929.38732600 | **5-Year:** 24305.69498100 | **10-Year:** 2122.24527000 | **30-Year:** 89.74293200

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000247024 | 0.41%                | -0.41%               | 1.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6556943.48             | $5616343.87                                |
| Month 2  | $-1087399.95             | $-7022986.73                               |
| Month 3  | $-2930174.22             | $25180418.04                               |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Aggregate Index

- **Index Identifier:** BBG_US_Agg

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Benchmark Mortgage Trust                                                  | Benchmark Mortgage Trust, Series 2020-IG2, Class XA                                       | CUSIP: 08162NAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  25152299 | PA      | $415173.92    | 0.02%             | 2048-09-15      | Variable      | 0.93%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384WM23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       864 | PA      | $892.26       | 0.00%             | 2031-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NRTH Mortgage Trust                                                       | NRTH Mortgage Trust, Series 2024-PARK, Class A                                            | CUSIP: 67021HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4633000 | PA      | $4642192.80   | 0.23%             | 2039-03-15      | Floating      | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Magnetite XXII Ltd.                                                       | Magnetite XXII Ltd., Series 2019-22A, Class DRR                                           | CUSIP: 55954HBC5<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1502592.00   | 0.07%             | 2036-07-15      | Floating      | 7.16%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, 30 Year                                                                             | CUSIP: 3140Q8Z32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    341834 | PA      | $311805.16    | 0.02%             | 2048-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC, Multifamily Structured Pass-Through Certificates, Series K114, Class X3            | CUSIP: 3137FVNK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5484002 | PA      | $605012.06    | 0.03%             | 2048-08-25      | Variable      | 2.83%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                             | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F052672<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 249790908 | PA      | $249732244.61 | 12.18%            | 2055-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                       | Societe Generale SA                                                                       | CUSIP: 83368RCG5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3936000 | PA      | $4015355.74   | 0.20%             | 2031-05-22      | Variable      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384VUZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1045 | PA      | $1079.59      | 0.00%             | 2030-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, 30 Year                                                                  | CUSIP: 3128M6PC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1489 | PA      | $1565.63      | 0.00%             | 2037-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BF Mortgage Trust                                                         | BF Mortgage Trust, Series 2019-NYT, Class C                                               | CUSIP: 62954PAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2377081.50   | 0.12%             | 2035-12-15      | Floating      | 6.31%                 | Yes           |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                                 | Driven Brands Funding LLC, Series 2019-2A, Class A2                                       | CUSIP: 26208LAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2305184 | PA      | $2271527.29   | 0.11%             | 2049-10-20      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| PetSmart, Inc.                                                            | PetSmart, Inc.                                                                            | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4141000 | PA      | $4041675.38   | 0.20%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Citadel LP                                                                | Citadel LP                                                                                | CUSIP: 17288XAC8<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |   8051000 | PA      | $8411515.89   | 0.41%             | 2032-01-23      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DND9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1502 | PA      | $1506.57      | 0.00%             | 2037-08-01      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| BCMSC Trust                                                               | BCMSC Trust, Series 1998-C, Class M1                                                      | CUSIP: 09774XAP7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    658416 | PA      | $654931.24    | 0.03%             | 2029-01-15      | Variable      | 7.51%                 | No            |                  2 | On Loan: No      |
| BANK                                                                      | BANK, Series 2020-BN30, Class MCDF                                                        | CUSIP: 06541UBG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4200000 | PA      | $2265068.82   | 0.11%             | 2053-12-15      | Variable      | 3.02%                 | No            |                  2 | On Loan: No      |
| NJ                                                                        | NJ, Series 2025-WBRK, Class D                                                             | CUSIP: 65486BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3400000 | PA      | $3285943.60   | 0.16%             | 2035-03-05      | Variable      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| NRM FHT1 Excess Owner LLC                                                 | NRM FHT1 Excess Owner LLC, Series 2025-FHT1, Class A                                      | CUSIP: 64832EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6477716 | PA      | $6557012.14   | 0.32%             | 2032-03-25      | Variable      | 6.55%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 31418DFD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    155475 | PA      | $148362.60    | 0.01%             | 2049-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MGIC Investment Corp.                                                     | MGIC Investment Corp.                                                                     | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |    546000 | PA      | $546020.51    | 0.03%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ORL Trust                                                                 | ORL Trust, Series 2024-GLKS, Class A                                                      | CUSIP: 67120DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3847000 | PA      | $3851527.15   | 0.19%             | 2039-12-15      | Floating      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 3617J6UQ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13236 | PA      | $12374.44     | 0.00%             | 2048-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31374TJV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1094 | PA      | $1130.27      | 0.00%             | 2028-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| American International Group, Inc.                                        | American International Group, Inc.                                                        | CUSIP: 026874DX2<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   2370000 | PA      | $2431592.98   | 0.12%             | 2035-05-07      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50728000 | PA      | $50938045.37  | 2.48%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390C5R3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1954 | PA      | $2055.99      | 0.00%             | 2032-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CFL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 179201000 | PA      | $180069004.84 | 8.78%             | 2029-09-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 32 Ltd.                                                       | Elmwood CLO 32 Ltd., Series 2024-8A, Class D1                                             | CUSIP: 29003TAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003179.00   | 0.05%             | 2037-10-18      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31400WPB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6716 | PA      | $7069.10      | 0.00%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31378YKB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       175 | PA      | $180.50       | 0.00%             | 2028-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers Germany Borrower Lux Sarl                            | Vantage Data Centers Germany Borrower Lux SARL, Series 2025-1A, Class A2                  | CUSIP: N/A<br>LEI: 2549008VW14T3IH21H24       | Long             | ABS-MBS          | CORP              | LU        |   5327000 | PA      | $6320432.97   | 0.31%             | 2050-06-28      | Fixed         | 4.29%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382SYR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       475 | PA      | $490.28       | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                                 | FHLMC Seasoned Credit Risk Transfer Trust, Series 2021-2, Class M                         | CUSIP: 35563P4H9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $719992.05    | 0.04%             | 2060-11-25      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                              | GS Mortgage Securities Trust, Series 2014-GC24, Class XA                                  | CUSIP: 36253GAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    374799 | PA      | $4.72         | 0.00%             | 2047-09-10      | Variable      | 0.40%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, 30 Year                                                                  | CUSIP: 3132M7C55<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    115377 | PA      | $110872.68    | 0.01%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Brean Asset-Backed Securities Trust                                       | Brean Asset-Backed Securities Trust, Series 2021-RM1, Class A                             | CUSIP: 10638CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1931752 | PA      | $1806898.07   | 0.09%             | 2063-10-25      | Variable      | 1.40%                 | Yes           |                  2 | On Loan: No      |
| American National Group, Inc.                                             | American National Group, Inc.                                                             | CUSIP: 025676AQ0<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   1536000 | PA      | $1545765.63   | 0.08%             | 2035-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31383H6M1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3663 | PA      | $3783.68      | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36202FV86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17386 | PA      | $16763.64     | 0.00%             | 2041-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31379UGY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1083 | PA      | $1119.11      | 0.00%             | 2028-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384V2P6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1109 | PA      | $1145.07      | 0.00%             | 2030-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DBX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8683 | PA      | $8395.82      | 0.00%             | 2037-01-01      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| First Horizon Corp.                                                       | First Horizon Corp.                                                                       | CUSIP: 320517AE5<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | DBT              | CORP              | US        |   2409000 | PA      | $2444267.18   | 0.12%             | 2031-03-07      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                                            | EPR Properties                                                                            | CUSIP: 26884UAE9<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   1971000 | PA      | $1967931.74   | 0.10%             | 2028-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| Willis Engine Structured Trust VIII                                       | Willis Engine Structured Trust VIII, Series 2025-A, Class A                               | CUSIP: 97063RAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5785000 | PA      | $5864342.43   | 0.29%             | 2050-06-15      | Fixed         | 5.58%                 | Yes           |                  2 | On Loan: No      |
| Compass Minerals International, Inc.                                      | Compass Minerals International, Inc.                                                      | CUSIP: 20451NAG6<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    229000 | PA      | $231054.82    | 0.01%             | 2027-12-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31385WX20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       609 | PA      | $636.31       | 0.00%             | 2033-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Horizon Aircraft Finance IV Ltd.                                          | Horizon Aircraft Finance IV Ltd., Series 2024-1, Class A                                  | CUSIP: 43990EAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   4408250 | PA      | $4418448.05   | 0.22%             | 2049-09-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corp.                                                           | Air Lease Corp.                                                                           | CUSIP: 00914AAH5<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    267000 | PA      | $267000.00    | 0.01%             | 2025-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Willis Engine Structured Trust VII                                        | Willis Engine Structured Trust VII, Series 2023-A, Class A                                | CUSIP: 97064YAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    607625 | PA      | $627177.09    | 0.03%             | 2048-10-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 2 Year Notes                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       790 | NC      | $663420.10    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371KP70<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2402 | PA      | $2507.25      | 0.00%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                | Cloud Software Group, Inc.                                                                | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   4584000 | PA      | $4629647.47   | 0.23%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                                    | Oportun Issuance Trust, Series 2025-A, Class A                                            | CUSIP: 68377TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3498945.80   | 0.17%             | 2033-02-08      | Fixed         | 5.01%                 | Yes           |                  2 | On Loan: No      |
| Las Vegas Sands Corp.                                                     | Las Vegas Sands Corp.                                                                     | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   7582000 | PA      | $7824789.59   | 0.38%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31335Y6E1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15844 | PA      | $15290.69     | 0.00%             | 2038-01-01      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                                               | McGraw-Hill Education, Inc.                                                               | CUSIP: 57767XAA8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |   4278000 | PA      | $4306722.49   | 0.21%             | 2028-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31402C4X7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       309 | PA      | $321.45       | 0.00%             | 2034-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital, Inc.                               | HA Sustainable Infrastructure Capital, Inc.                                               | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |  11463000 | PA      | $11470620.03  | 0.56%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer LLC                                  | Retained Vantage Data Centers Issuer LLC, Series 2023-1A, Class A2A                       | CUSIP: 76134KAA2<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |   1423000 | PA      | $1412706.73   | 0.07%             | 2048-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero             | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero                             | CUSIP: 07336UAB9<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   2157000 | PA      | $2231026.08   | 0.11%             | 2039-01-08      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391B6M4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1442 | PA      | $1503.28      | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31389HXX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3956 | PA      | $4086.47      | 0.00%             | 2032-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                                 | FHLMC Seasoned Credit Risk Transfer Trust, Series 2016-1, Class MT                        | CUSIP: 35563PAA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    825491 | PA      | $714172.06    | 0.03%             | 2055-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                                | Warnermedia Holdings, Inc.                                                                | CUSIP: 55903VBC6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   9099000 | PA      | $6812876.25   | 0.33%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Var Energi ASA                                                            | Var Energi ASA                                                                            | CUSIP: 92212WAF7<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |   5983000 | PA      | $6133557.05   | 0.30%             | 2030-05-22      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CAV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15577000 | PA      | $13365187.66  | 0.65%             | 2030-11-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384VTE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       199 | PA      | $205.42       | 0.00%             | 2030-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31389GSH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1247 | PA      | $1319.40      | 0.00%             | 2032-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners ABS Funding Ltd.                                   | Golub Capital Partners ABS Funding Ltd., Series 2021-1A, Class A2                         | CUSIP: 38178HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    600417 | PA      | $597431.15    | 0.03%             | 2029-04-20      | Fixed         | 2.77%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC STACR REMIC Trust, Series 2022-DNA2, Class B2                                       | CUSIP: 35564KSQ3<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |   4695000 | PA      | $5143959.38   | 0.25%             | 2042-02-25      | Floating      | 12.81%                | Yes           |                  2 | On Loan: No      |
| Birch Grove CLO 14 Ltd.                                                   | Birch Grove CLO 14 Ltd., Series 2025-14A, Class D1                                        | CUSIP: 09090RAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3015369.00   | 0.15%             | 2037-07-22      | Floating      | 7.80%                 | Yes           |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                                 | Driven Brands Funding LLC, Series 2021-1A, Class A2                                       | CUSIP: 26209XAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5945213 | PA      | $5565896.45   | 0.27%             | 2051-10-20      | Fixed         | 2.79%                 | Yes           |                  2 | On Loan: No      |
| Petrobras Global Finance BV                                               | Petrobras Global Finance BV                                                               | CUSIP: 71647NBK4<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |   1557000 | PA      | $1597676.63   | 0.08%             | 2033-07-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Artera Services LLC                                                       | Artera Services LLC                                                                       | CUSIP: 04302XAA2<br>LEI: 549300J2G34D0WX8Z443 | Long             | DBT              | CORP              | US        |   4386600 | PA      | $3656345.59   | 0.18%             | 2031-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Strips, Series 305, Class 7                                                         | CUSIP: 31364JL35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4454 | PA      | $338.10       | 0.00%             | 2029-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                                   | Quikrete Holdings, Inc.                                                                   | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   4330000 | PA      | $4455331.50   | 0.22%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390TW96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       585 | PA      | $620.51       | 0.00%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Castlelake Aircraft Structured Trust                                      | Castlelake Aircraft Structured Trust, Series 2025-1A, Class A                             | CUSIP: 14856VAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9632344 | PA      | $9780515.86   | 0.48%             | 2050-02-15      | Fixed         | 5.78%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3808000 | PA      | $4021471.87   | 0.20%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC, REMIC, Series 5483, Class FB                                                       | CUSIP: 3137HHNE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5105977 | PA      | $5109581.47   | 0.25%             | 2054-12-25      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387EV87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       827 | PA      | $853.83       | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                                             | Lendbuzz Securitization Trust, Series 2025-2A, Class B                                    | CUSIP: 52611JAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2940000 | PA      | $2958422.45   | 0.14%             | 2030-11-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| CFMT LLC                                                                  | CFMT LLC, Series 2022-HB9, Class M3                                                       | CUSIP: 12530GAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1840000 | PA      | $1714905.76   | 0.08%             | 2037-09-25      | Variable      | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Mosaic Solar Loan Trust                                                   | Mosaic Solar Loan Trust, Series 2020-1A, Class A                                          | CUSIP: 61946NAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    381817 | PA      | $339701.08    | 0.02%             | 2046-04-20      | Fixed         | 2.10%                 | Yes           |                  2 | On Loan: No      |
| Galaxy 31 CLO Ltd.                                                        | Galaxy 31 CLO Ltd., Series 2023-31A, Class DR                                             | CUSIP: 36320HAS8<br>LEI: 549300XTB6S9P2VMDV60 | Long             | ABS-CBDO         | CORP              | KY        |   2350000 | PA      | $2352857.60   | 0.11%             | 2038-07-15      | Floating      | 7.51%                 | Yes           |                  2 | On Loan: No      |
| DB Master Finance LLC                                                     | DB Master Finance LLC, Series 2021-1A, Class A2I                                          | CUSIP: 233046AN1<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |   2234940 | PA      | $2153262.55   | 0.11%             | 2051-11-20      | Fixed         | 2.04%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                 | XPLR Infrastructure Operating Partners LP                                                 | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   3246000 | PA      | $3481487.56   | 0.17%             | 2033-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: —       |
| New Mountain CLO 7 Ltd.                                                   | New Mountain CLO 7 Ltd., Series CLO-7A, Class D2                                          | CUSIP: 64754YAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1973916.00   | 0.10%             | 2038-03-31      | Floating      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| Cloud Capital Holdco LP                                                   | Cloud Capital Holdco LP, Series 2024-1A, Class A2                                         | CUSIP: 102104AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4566429.00   | 0.22%             | 2049-11-22      | Fixed         | 5.78%                 | Yes           |                  2 | On Loan: No      |
| HCA, Inc.                                                                 | HCA, Inc.                                                                                 | CUSIP: 404121AL9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1981000 | PA      | $1926699.72   | 0.09%             | 2054-09-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| PNC Financial Services Group, Inc. (The)                                  | PNC Financial Services Group, Inc. (The)                                                  | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   4401000 | PA      | $4921606.92   | 0.24%             | 2034-10-20      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Intact Financial Corp.                                                    | Intact Financial Corp.                                                                    | CUSIP: 45823TAL0<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | DBT              | CORP              | CA        |   2328000 | PA      | $2385002.69   | 0.12%             | 2032-09-22      | Fixed         | 5.46%                 | Yes           |                  2 | On Loan: No      |
| Progress Residential                                                      | Progress Residential, Series 2021-SFR4, Class D                                           | CUSIP: 74333EAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | PA      | $637727.87    | 0.03%             | 2038-05-17      | Fixed         | 2.31%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC, Multifamily Structured Pass-Through Certificates, Series K144, Class X3            | CUSIP: 3137H7MC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11220034 | PA      | $1977569.70   | 0.10%             | 2032-05-25      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                                            | EPR Properties                                                                            | CUSIP: 26884UAF6<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   2601000 | PA      | $2477690.70   | 0.12%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| Adjustable Rate Mortgage Trust                                            | Adjustable Rate Mortgage Trust, Series 2005-2, Class 2A1                                  | CUSIP: 007036GS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8672 | PA      | $8684.58      | 0.00%             | 2035-06-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-222428.27   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Global Atlantic Fin Co.                                                   | Global Atlantic Fin Co.                                                                   | CUSIP: 37959GAB3<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |    754000 | PA      | $670191.68    | 0.03%             | 2031-06-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3138E2VY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    575296 | PA      | $555182.03    | 0.03%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31388JZD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2655 | PA      | $2805.07      | 0.00%             | 2031-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LifePoint Health, Inc.                                                    | LifePoint Health, Inc.                                                                    | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   4595000 | PA      | $4976187.42   | 0.24%             | 2030-08-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31403MRY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       915 | PA      | $953.74       | 0.00%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31389CQY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1369 | PA      | $1413.80      | 0.00%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FirstKey Homes Trust                                                      | FirstKey Homes Trust, Series 2021-SFR2, Class G                                           | CUSIP: 33767TAS9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $953469.80    | 0.05%             | 2038-09-17      | Fixed         | 3.41%                 | Yes           |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust                                              | JW Commercial Mortgage Trust, Series 2024-MRCO, Class B                                   | CUSIP: 46657XAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    885000 | PA      | $886516.54    | 0.04%             | 2039-06-15      | Floating      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| McAfee Corp.                                                              | McAfee Corp.                                                                              | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |   3921000 | PA      | $3706771.22   | 0.18%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust                    | J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class XA         | CUSIP: 46645UAV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3446402 | PA      | $18200.79     | 0.00%             | 2049-12-15      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31389S6V1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1913 | PA      | $1981.90      | 0.00%             | 2031-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 5 Year Notes                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      1089 | NC      | $1508092.36   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties LP                                                        | VICI Properties LP                                                                        | CUSIP: 925650AH6<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |   7814000 | PA      | $7829171.66   | 0.38%             | 2031-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382M2C7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3791 | PA      | $3915.73      | 0.00%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387QU81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1460 | PA      | $1536.70      | 0.00%             | 2031-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                                                     | Delta Air Lines, Inc.                                                                     | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6735400 | PA      | $6754186.65   | 0.33%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                                 | FHLMC Seasoned Credit Risk Transfer Trust, Series 2018-3, Class HT                        | CUSIP: 35563PGA1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    587020 | PA      | $502567.26    | 0.02%             | 2057-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31389TWW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       913 | PA      | $952.12       | 0.00%             | 2032-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  77879000 | PA      | $78006769.84  | 3.81%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FS Commercial Mortgage Trust                                              | FS Commercial Mortgage Trust, Series 2023-4SZN, Class A                                   | CUSIP: 30334RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1775000 | PA      | $1819038.11   | 0.09%             | 2039-11-10      | Fixed         | 7.07%                 | Yes           |                  2 | On Loan: No      |
| Start Ltd.                                                                | Start Ltd., Series 2018-1, Class A                                                        | CUSIP: 85572RAA7<br>LEI: 549300VIQYFIDJQCKZ43 | Long             | ABS-O            | CORP              | BM        |   1540358 | PA      | $1536569.15   | 0.07%             | 2043-05-15      | Fixed         | 4.09%                 | Yes           |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                                                   | NESCO Holdings II, Inc.                                                                   | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    250000 | PA      | $243729.93    | 0.01%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31379FP81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       998 | PA      | $1031.42      | 0.00%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                                | U.S. Bancorp                                                                              | CUSIP: 91159HJV3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2441000 | PA      | $2490540.31   | 0.12%             | 2031-05-15      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6281000 | PA      | $6438390.87   | 0.31%             | 2031-04-22      | Variable      | 5.10%                 | No            |                  2 | On Loan: —       |
| Antares Holdings LP                                                       | Antares Holdings LP                                                                       | CUSIP: 03666HAH4<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | US        |   2755000 | PA      | $2784458.44   | 0.14%             | 2029-10-23      | Fixed         | 6.35%                 | Yes           |                  2 | On Loan: —       |
| BX Commercial Mortgage Trust                                              | BX Commercial Mortgage Trust, Series 2022-CSMO, Class C                                   | CUSIP: 05610MAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4980000 | PA      | $5053802.85   | 0.25%             | 2027-06-15      | Floating      | 8.20%                 | Yes           |                  2 | On Loan: No      |
| Madison Park Funding LV Ltd.                                              | Madison Park Funding LV Ltd., Series 2022-55A, Class D1R                                  | CUSIP: 55819FAY7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1506124.50   | 0.07%             | 2037-07-18      | Floating      | 7.42%                 | Yes           |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                                                  | Ajax Mortgage Loan Trust, Series 2020-B, Class A1                                         | CUSIP: 00969YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    985481 | PA      | $927763.20    | 0.05%             | 2059-05-25      | Variable      | 1.70%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391BWM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7504 | PA      | $7864.47      | 0.00%             | 2032-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390UYK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       238 | PA      | $246.11       | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Hudson Yards Mortgage Trust                                               | Hudson Yards Mortgage Trust, Series 2025-SPRL, Class D                                    | CUSIP: 44855PAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1925000 | PA      | $1996455.42   | 0.10%             | 2040-01-13      | Variable      | 6.55%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                                | FHLMC Gold Pool, Other                                                                    | CUSIP: 3133N3VH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     71028 | PA      | $66450.50     | 0.00%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent Trust                                               | American Homes 4 Rent Trust, Series 2015-SFR2, Class E                                    | CUSIP: 02666BAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1001000 | PA      | $999062.26    | 0.05%             | 2052-10-17      | Fixed         | 6.07%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                                       | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1729000 | PA      | $831270.78    | 0.04%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31385H7A4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       822 | PA      | $855.93       | 0.00%             | 2032-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382X5S5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       529 | PA      | $546.32       | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31379SBM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       652 | PA      | $685.82       | 0.00%             | 2028-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                                     | Global Payments, Inc.                                                                     | CUSIP: 37940XAR3<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    440000 | PA      | $423411.44    | 0.02%             | 2052-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DFX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13500 | PA      | $13168.76     | 0.00%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Aircastle Ltd.                                                            | Aircastle Ltd.                                                                            | CUSIP: 00929JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3304000 | PA      | $3399615.71   | 0.17%             | 2031-10-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                                       | Medline Borrower LP                                                                       | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   2594000 | PA      | $2490074.24   | 0.12%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 3617JUST9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    130759 | PA      | $122256.94    | 0.01%             | 2049-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Falcon Aerospace Ltd.                                                     | Falcon Aerospace Ltd., Series 2019-1, Class A                                             | CUSIP: 30610GAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    748987 | PA      | $735226.87    | 0.04%             | 2039-09-15      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 3617JKEK5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     22300 | PA      | $21657.14     | 0.00%             | 2049-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382YSQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4666 | PA      | $4820.32      | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                   | Raizen Fuels Finance SA                                                                   | CUSIP: 75102XAC0<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |   1581000 | PA      | $1467924.51   | 0.07%             | 2054-03-05      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Subway Funding LLC                                                        | Subway Funding LLC, Series 2024-3A, Class A2II                                            | CUSIP: 864300AJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5470510 | PA      | $5464999.01   | 0.27%             | 2054-07-30      | Fixed         | 5.57%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 912828YB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5363000 | PA      | $4939825.78   | 0.24%             | 2029-08-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                                                            | ACM Auto Trust, Series 2025-1A, Class A                                                   | CUSIP: 00161EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3492515 | PA      | $3496143.04   | 0.17%             | 2029-06-20      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $14415.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, REMIC, Series 2003-71, Class TA                                                     | CUSIP: 31393EJT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     56313 | PA      | $58826.92     | 0.00%             | 2032-09-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3138ERG87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    256627 | PA      | $244658.93    | 0.01%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury Long Bonds                                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        60 | NC      | $267510.21    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 31418DBW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    147524 | PA      | $140775.55    | 0.01%             | 2049-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Healthpeak OP LLC                                                         | Healthpeak OP LLC                                                                         | CUSIP: 42250GAA1<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |   5054000 | PA      | $5103372.27   | 0.25%             | 2035-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31385HNZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2127 | PA      | $2238.77      | 0.00%             | 2031-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $28267.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391CQK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       146 | PA      | $153.09       | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                                        | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   1983000 | PA      | $1926843.46   | 0.09%             | 2029-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Aqua Finance Trust                                                        | Aqua Finance Trust, Series 2019-A, Class B                                                | CUSIP: 038370AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    434224 | PA      | $421834.32    | 0.02%             | 2040-07-16      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                                          | Virgin Media Secured Finance plc                                                          | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |   2276000 | PA      | $2240056.36   | 0.11%             | 2029-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                                        | Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class B                                | CUSIP: 02007G4C4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1232901 | PA      | $1241638.57   | 0.06%             | 2032-09-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Swedbank AB                                                               | Swedbank AB                                                                               | CUSIP: 87020PAT4<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |    675000 | PA      | $688883.06    | 0.03%             | 2027-09-20      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: —       |
| Bank of America Corp.                                                     | Bank of America Corp.                                                                     | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3028000 | PA      | $3104318.41   | 0.15%             | 2031-01-24      | Variable      | 5.16%                 | No            |                  2 | On Loan: —       |
| BNP Paribas SA                                                            | BNP Paribas SA                                                                            | CUSIP: 09659T2D2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3261000 | PA      | $3290936.96   | 0.16%             | 2035-11-19      | Variable      | 5.91%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                      | Clear Channel Outdoor Holdings, Inc.                                                      | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   4373000 | PA      | $4517982.44   | 0.22%             | 2030-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                                | UMBS Pool, 30 Year                                                                        | CUSIP: 3132AEB96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    290557 | PA      | $274009.66    | 0.01%             | 2049-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PEH5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4503000 | PA      | $4732664.53   | 0.23%             | 2035-04-22      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| PRM5 Trust                                                                | PRM5 Trust, Series 2025-PRM5, Class D                                                     | CUSIP: 693980AG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1146107.37   | 0.06%             | 2033-03-10      | Variable      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| CI Financial Corp.                                                        | CI Financial Corp.                                                                        | CUSIP: 125491AT7<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |   9131000 | PA      | $9638710.54   | 0.47%             | 2029-05-30      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Bryant Park Funding Ltd.                                                  | Bryant Park Funding Ltd., Series 2023-19A, Class D1R                                      | CUSIP: 11765AAY5<br>LEI: 5493004CTFWJSWYD8564 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2999361.00   | 0.15%             | 2038-04-15      | Floating      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                                 | FHLMC Seasoned Credit Risk Transfer Trust, Series 2019-3, Class M                         | CUSIP: 35563PLU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1057227 | PA      | $1029626.13   | 0.05%             | 2058-10-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                                                    | Extra Space Storage LP                                                                    | CUSIP: 30225VAF4<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    185000 | PA      | $163665.80    | 0.01%             | 2031-06-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: —       |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 912828Z94<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  22923000 | PA      | $20748001.35  | 1.01%             | 2030-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| STAR Trust                                                                | STAR Trust, Series 2025-SFR5, Class A                                                     | CUSIP: 85520CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7040000 | PA      | $7052580.48   | 0.34%             | 2042-02-17      | Floating      | 5.76%                 | Yes           |                  2 | On Loan: No      |
| Flatiron CLO 28 Ltd.                                                      | Flatiron CLO 28 Ltd., Series 2024-1A, Class D1                                            | CUSIP: 33884EAL5<br>LEI: 254900U51J2X527SRJ56 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2004038.00   | 0.10%             | 2036-07-15      | Floating      | 7.26%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391YW37<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2773 | PA      | $2891.47      | 0.00%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA, Series 2011-19, Class IM                                                            | CUSIP: 38377TZF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     56999 | PA      | $11433.10     | 0.00%             | 2041-02-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387BZ63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       960 | PA      | $991.41       | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                                          | CUSIP: 097023CX1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2947000 | PA      | $2803895.98   | 0.14%             | 2060-05-01      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31402CQQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       691 | PA      | $715.02       | 0.00%             | 2033-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bills                                                                       | CUSIP: 912797QH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   9315000 | PA      | $9276510.98   | 0.45%             | 2025-08-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust                                            | HLTN Commercial Mortgage Trust, Series 2024-DPLO, Class C                                 | CUSIP: 40424UAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    232394 | PA      | $232758.72    | 0.01%             | 2041-06-15      | Floating      | 6.85%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390QGN9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       555 | PA      | $576.92       | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Intel Corp.                                                               | Intel Corp.                                                                               | CUSIP: 458140BM1<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1918000 | PA      | $1566198.10   | 0.08%             | 2050-03-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| N/A                                                                       | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $78406.91     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NRM FNT1 Excess LLC                                                       | NRM FNT1 Excess LLC, Series 2024-FNT1, Class A                                            | CUSIP: 62956YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2420153 | PA      | $2462570.04   | 0.12%             | 2031-11-25      | Variable      | 7.40%                 | Yes           |                  2 | On Loan: No      |
| Enact Holdings, Inc.                                                      | Enact Holdings, Inc.                                                                      | CUSIP: 29249EAA7<br>LEI: 9845003CA5664B741N19 | Long             | DBT              | CORP              | US        |   7364000 | PA      | $7645176.59   | 0.37%             | 2029-05-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust                                  | Research-Driven Pagaya Motor Asset Trust, Series 2025-1A, Class B                         | CUSIP: 76089YAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4300000 | PA      | $4294773.78   | 0.21%             | 2033-06-27      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384V2H4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       156 | PA      | $161.33       | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                      | Ally Financial, Inc.                                                                      | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   7985000 | PA      | $8433785.35   | 0.41%             | 2030-01-03      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XV Ltd.                                                  | Sixth Street CLO XV Ltd., Series 2020-15A, Class D1R                                      | CUSIP: 83012BAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $752017.50    | 0.04%             | 2037-10-24      | Floating      | 7.43%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                                | FHLMC Gold Pool, Other                                                                    | CUSIP: 3133N3U51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    133404 | PA      | $120955.63    | 0.01%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31388NJ72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       916 | PA      | $957.73       | 0.00%             | 2031-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                      | Charter Communications Operating LLC                                                      | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12778000 | PA      | $10230957.55  | 0.50%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NJ                                                                        | NJ, Series 2025-WBRK, Class C                                                             | CUSIP: 65486BAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3110000 | PA      | $3123720.70   | 0.15%             | 2035-03-05      | Variable      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| Blue Owl Credit Income Corp.                                              | Blue Owl Credit Income Corp.                                                              | CUSIP: 69120VAZ4<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1378881.11   | 0.07%             | 2031-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Brookfield Finance, Inc.                                                  | Brookfield Finance, Inc.                                                                  | CUSIP: 11271LAN2<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |   5156000 | PA      | $4946921.62   | 0.24%             | 2055-01-15      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Wendy's Funding LLC                                                       | Wendy's Funding LLC, Series 2018-1A, Class A2II                                           | CUSIP: 95058XAE8<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |   1849573 | PA      | $1806926.49   | 0.09%             | 2048-03-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC, Multifamily Structured Pass-Through Certificates, Series K126, Class X3            | CUSIP: 3137FXYY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  17200000 | PA      | $2120472.72   | 0.10%             | 2049-01-25      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| Bell Telephone Co. of Canada or Bell Canada                               | Bell Canada                                                                               | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |   4008000 | PA      | $4118274.39   | 0.20%             | 2055-09-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Subway Funding LLC                                                        | Subway Funding LLC, Series 2024-3A, Class A2I                                             | CUSIP: 864300AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2797404 | PA      | $2787521.03   | 0.14%             | 2054-07-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Smithfield Foods, Inc.                                                    | Smithfield Foods, Inc.                                                                    | CUSIP: 832248BB3<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |   1983000 | PA      | $1997007.79   | 0.10%             | 2029-04-01      | Fixed         | 5.20%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 10 Year Notes                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       268 | NC      | $520265.53    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Marlette Funding Trust                                                    | Marlette Funding Trust, Series 2023-3A, Class B                                           | CUSIP: 57109RAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    534194 | PA      | $535363.49    | 0.03%             | 2033-09-15      | Fixed         | 6.71%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3138AUDE4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    128792 | PA      | $124097.60    | 0.01%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DPP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8544 | PA      | $8166.00      | 0.00%             | 2037-08-01      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Ferrellgas LP                                                             | Ferrellgas LP                                                                             | CUSIP: 315289AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5042000 | PA      | $4668889.48   | 0.23%             | 2029-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Other                                                                            | CUSIP: 36179USL7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     85129 | PA      | $81477.15     | 0.00%             | 2049-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FOCUS Brands Funding LLC                                                  | FOCUS Brands Funding LLC, Series 2017-1A, Class A2II                                      | CUSIP: 34417MAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9407920 | PA      | $9356406.93   | 0.46%             | 2047-04-30      | Fixed         | 5.09%                 | Yes           |                  2 | On Loan: No      |
| Lehman Mortgage Trust                                                     | Lehman Mortgage Trust, Series 2007-8, Class 2A1                                           | CUSIP: 52521YAC0<br>LEI: N/A                  | Short            | ABS-MBS          | CORP              | US        |       -20 | PA      | $-7.38        | -0.00%            | 2037-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Other                                                                            | CUSIP: 36179UVZ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     39061 | PA      | $37384.99     | 0.00%             | 2049-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                       | Citigroup Commercial Mortgage Trust, Series 2015-GC35, Class XA                           | CUSIP: 17324KAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2136239 | PA      | $4939.41      | 0.00%             | 2048-11-10      | Variable      | 0.84%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390ABQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1278 | PA      | $1335.35      | 0.00%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                                 | HCA, Inc.                                                                                 | CUSIP: 404119DC0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   4637000 | PA      | $4673834.06   | 0.23%             | 2055-03-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Olympic Tower Mortgage Trust                                              | Olympic Tower Mortgage Trust, Series 2017-OT, Class A                                     | CUSIP: 68162MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2900000 | PA      | $2567274.88   | 0.13%             | 2039-05-10      | Fixed         | 3.57%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382W5R9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       444 | PA      | $458.80       | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                 | Vistra Operations Co. LLC                                                                 | CUSIP: 92840VAU6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   5538000 | PA      | $5643825.03   | 0.28%             | 2034-12-30      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| FNMA or FHLMC                                                             | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F042673<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   6657175 | PA      | $6367483.37   | 0.31%             | 2055-07-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31388CY38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1219 | PA      | $1267.32      | 0.00%             | 2031-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3140QUMT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2937528 | PA      | $2940721.86   | 0.14%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INTOWN Mortgage Trust                                                     | INTOWN Mortgage Trust, Series 2025-STAY, Class C                                          | CUSIP: 46117WAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3061000 | PA      | $3056571.04   | 0.15%             | 2042-03-15      | Floating      | 6.56%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                                                | STAR Trust, Series 2025-SFR5, Class D                                                     | CUSIP: 85520CAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1670000 | PA      | $1671538.07   | 0.08%             | 2042-02-17      | Floating      | 6.76%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371HHT8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1060 | PA      | $1094.96      | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382QXY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1010 | PA      | $1043.27      | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                        | Banco Santander SA                                                                        | CUSIP: 05964HBB0<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2875000 | PA      | $2965366.80   | 0.14%             | 2030-03-14      | Variable      | 5.54%                 | No            |                  2 | On Loan: —       |
| Magnetite XXII Ltd.                                                       | Magnetite XXII Ltd., Series 2019-22A, Class DJ                                            | CUSIP: 55954HBE1<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501022.00    | 0.02%             | 2036-07-15      | Floating      | 8.41%                 | Yes           |                  2 | On Loan: No      |
| JOL Air Ltd.                                                              | JOL Air Ltd., Series 2019-1, Class B                                                      | CUSIP: 46651NAB0<br>LEI: 549300TS4MUGCDXPW498 | Long             | ABS-O            | CORP              | KY        |    146372 | PA      | $144639.74    | 0.01%             | 2044-04-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 912828ZE3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10236000 | PA      | $9697810.36   | 0.47%             | 2027-03-31      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $69534.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $31139.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, 30 Year                                                                  | CUSIP: 3128KVBR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       739 | PA      | $777.13       | 0.00%             | 2037-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding LLC                                                     | Taco Bell Funding LLC, Series 2021-1A, Class A2I                                          | CUSIP: 87342RAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1139700 | PA      | $1087264.57   | 0.05%             | 2051-08-25      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31386GHL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4188 | PA      | $4325.85      | 0.00%             | 2031-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Romania                                                                   | Romanian Government Bond                                                                  | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |   3200000 | PA      | $3894026.74   | 0.19%             | 2033-09-18      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC, Multifamily Structured Pass-Through Certificates, Series K122, Class X3            | CUSIP: 3137F84K6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4091469 | PA      | $467739.15    | 0.02%             | 2049-01-25      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31383EAP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1227 | PA      | $1250.79      | 0.00%             | 2029-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Stanwich Mortgage Loan Co. LLC                                            | Stanwich Mortgage Loan Co. LLC, Series 2021-NPB1, Class A1                                | CUSIP: 85501YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2522 | PA      | $2524.61      | 0.00%             | 2026-10-16      | Variable      | 6.23%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31374TNX3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       989 | PA      | $1022.08      | 0.00%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                | Occidental Petroleum Corp.                                                                | CUSIP: 674599EK7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1164000 | PA      | $1155277.10   | 0.06%             | 2032-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                                      | BBCMS Mortgage Trust, Series 2022-C18, Class XA                                           | CUSIP: 054975AG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18280099 | PA      | $622446.52    | 0.03%             | 2055-12-15      | Variable      | 0.64%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners ABS Funding Ltd.                                   | Golub Capital Partners ABS Funding Ltd., Series 2020-1A, Class A2                         | CUSIP: 38177UAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    996992 | PA      | $992703.61    | 0.05%             | 2029-01-22      | Fixed         | 3.21%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                                                  | BX Trust, Series 2025-GW, Class D                                                         | CUSIP: 12433GAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3770000 | PA      | $3790086.56   | 0.18%             | 2042-07-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ALTDE Trust                                                               | ALTDE Trust, Series 2025-1A, Class A                                                      | CUSIP: 00166NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4814591 | PA      | $4920197.48   | 0.24%             | 2050-08-15      | Fixed         | 5.90%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale SA                                                       | Societe Generale SA                                                                       | CUSIP: 83368RCF7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1721000 | PA      | $1790145.03   | 0.09%             | 2033-04-13      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Synovus Bank                                                              | Synovus Bank                                                                              | CUSIP: 87164DVJ6<br>LEI: DX0JX77PRMOELF7VG772 | Long             | DBT              | CORP              | US        |   2260000 | PA      | $2285016.57   | 0.11%             | 2028-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loan Trust                                                   | Mosaic Solar Loan Trust, Series 2019-2A, Class B                                          | CUSIP: 61945LAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4803155 | PA      | $4337605.21   | 0.21%             | 2040-09-20      | Fixed         | 3.28%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3140QUZF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4228751 | PA      | $4233348.06   | 0.21%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                            | Teva Pharmaceutical Finance Netherlands III BV                                            | CUSIP: 88167AAF8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $180066.63    | 0.01%             | 2046-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371GTH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2495 | PA      | $2577.12      | 0.00%             | 2028-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GCI Funding I LLC                                                         | GCI Funding I LLC, Series 2020-1, Class A                                                 | CUSIP: 36166VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |    501894 | PA      | $473276.09    | 0.02%             | 2045-10-18      | Fixed         | 2.82%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                       | Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class XA                           | CUSIP: 29425AAK9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2290385 | PA      | $740.25       | 0.00%             | 2058-09-10      | Variable      | 0.92%                 | No            |                  2 | On Loan: No      |
| A/S Mileage Plan IP Ltd.                                                  | A/S Mileage Plan IP Ltd.                                                                  | CUSIP: 00218QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   6217000 | PA      | $6155770.82   | 0.30%             | 2029-10-20      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: —       |
| Global Atlantic Fin Co.                                                   | Global Atlantic Fin Co.                                                                   | CUSIP: 37959GAC1<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   2710000 | PA      | $2661086.26   | 0.13%             | 2051-10-15      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Kyndryl Holdings, Inc.                                                    | Kyndryl Holdings, Inc.                                                                    | CUSIP: 50155QAN0<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |   6785000 | PA      | $7252065.29   | 0.35%             | 2034-02-20      | Fixed         | 6.35%                 | No            |                  2 | On Loan: —       |
| FNMA                                                                      | FNMA, Strips, Series 305, Class 8                                                         | CUSIP: 31364JL43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6807 | PA      | $492.71       | 0.00%             | 2029-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36179M5N6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     77762 | PA      | $74887.47     | 0.00%             | 2043-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31385XJG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2038 | PA      | $2122.61      | 0.00%             | 2033-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Strips, Series 305, Class 10                                                        | CUSIP: 31364JL68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10776 | PA      | $806.72       | 0.00%             | 2029-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Masterbrand, Inc.                                                         | Masterbrand, Inc.                                                                         | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |   4182000 | PA      | $4276395.60   | 0.21%             | 2032-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                       | Intesa Sanpaolo SpA                                                                       | CUSIP: 46115HBV8<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   8794000 | PA      | $10212139.87  | 0.50%             | 2033-11-21      | Variable      | 8.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31383H2B9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1257 | PA      | $1298.69      | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                                 | FHLMC Seasoned Credit Risk Transfer Trust, Series 2020-1, Class M                         | CUSIP: 35563PPH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2700000 | PA      | $2574930.33   | 0.13%             | 2059-08-25      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Wand NewCo 3, Inc.                                                        | Wand NewCo 3, Inc.                                                                        | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |    250000 | PA      | $262957.25    | 0.01%             | 2032-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31380HVX2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       455 | PA      | $470.03       | 0.00%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                             | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F050676<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 195899000 | PA      | $191996270.74 | 9.37%             | 2055-07-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 3620ARRB9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    221705 | PA      | $208550.30    | 0.01%             | 2040-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                               | Toronto-Dominion Bank (The)                                                               | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   7331000 | PA      | $7674875.22   | 0.37%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| STAR Trust                                                                | STAR Trust, Series 2024-SFR4, Class D                                                     | CUSIP: 85520AAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3095000 | PA      | $3126405.89   | 0.15%             | 2041-10-17      | Floating      | 7.26%                 | Yes           |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                   | Raizen Fuels Finance SA                                                                   | CUSIP: 75102XAB2<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |   2136000 | PA      | $2139434.69   | 0.10%             | 2034-03-05      | Fixed         | 6.45%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391PK21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10738 | PA      | $11265.20     | 0.00%             | 2032-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust                                              | JW Commercial Mortgage Trust, Series 2024-MRCO, Class A                                   | CUSIP: 46657XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4008206.40   | 0.20%             | 2039-06-15      | Floating      | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                | Charles Schwab Corp. (The)                                                                | CUSIP: 808513CH6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1885000 | PA      | $2040280.68   | 0.10%             | 2034-08-24      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Jersey Mike's Funding LLC                                                 | Jersey Mike's Funding LLC, Series 2019-1A, Class A2                                       | CUSIP: 476681AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1897975 | PA      | $1882765.20   | 0.09%             | 2050-02-15      | Fixed         | 4.43%                 | Yes           |                  2 | On Loan: No      |
| COPT Defense Properties LP                                                | COPT Defense Properties LP                                                                | CUSIP: 22003BAP1<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |   2919000 | PA      | $2400581.69   | 0.12%             | 2033-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CFW6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1533000 | PA      | $1533904.81   | 0.07%             | 2025-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| First Quantum Minerals Ltd.                                               | First Quantum Minerals Ltd.                                                               | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $256735.00    | 0.01%             | 2033-03-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                    | Goldman Sachs Bank USA                                                                    | CUSIP: 38151LAG5<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24202.19     | 0.00%             | 2027-05-21      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| Calderys Financing LLC                                                    | Calderys Financing LLC                                                                    | CUSIP: 128786AA8<br>LEI: 254900ZIKDM74XNEFV84 | Long             | DBT              | CORP              | US        |   3071000 | PA      | $3259514.16   | 0.16%             | 2028-06-01      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                                   | American Airlines, Inc.                                                                   | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1469333 | PA      | $1466879.97   | 0.07%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CKS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  70370000 | PA      | $70879337.36  | 3.46%             | 2026-05-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AASET MT-1 Ltd.                                                           | AASET Ltd., Series 2025-2A, Class B                                                       | CUSIP: 00039NAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4225000 | PA      | $4256091.78   | 0.21%             | 2050-02-16      | Fixed         | 6.01%                 | Yes           |                  2 | On Loan: No      |
| Essent Group Ltd.                                                         | Essent Group Ltd.                                                                         | CUSIP: 29669JAA7<br>LEI: 254900QUO860OUT6ZF83 | Long             | DBT              | CORP              | BM        |   6439000 | PA      | $6672444.21   | 0.33%             | 2029-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371HVG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3772 | PA      | $3896.57      | 0.00%             | 2029-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31385HQ21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1215 | PA      | $1255.55      | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co.                                                                         | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   6014000 | PA      | $6171053.87   | 0.30%             | 2031-01-24      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31374SY39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        85 | PA      | $88.29        | 0.00%             | 2028-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Global Atlantic Fin Co.                                                   | Global Atlantic Fin Co.                                                                   | CUSIP: 37959GAF4<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   5525000 | PA      | $5666423.31   | 0.28%             | 2054-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                                       | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  57792000 | PA      | $57475950.00  | 2.80%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Belrose Funding Trust II                                                  | Belrose Funding Trust II                                                                  | CUSIP: 08079KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5485000 | PA      | $5611498.25   | 0.27%             | 2055-05-15      | Fixed         | 6.79%                 | Yes           |                  2 | On Loan: No      |
| BANK                                                                      | BANK, Series 2019-BN21, Class XA                                                          | CUSIP: 06540BBE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13644159 | PA      | $385637.15    | 0.02%             | 2052-10-17      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31380BA26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       361 | PA      | $372.83       | 0.00%             | 2028-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31403HAY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2374 | PA      | $2452.69      | 0.00%             | 2033-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust                    | J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2013-LC11, Class XB        | CUSIP: 46639YAT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4656505 | PA      | $14155.31     | 0.00%             | 2046-04-15      | Variable      | 0.59%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                                             | Lendbuzz Securitization Trust, Series 2025-2A, Class C                                    | CUSIP: 52611JAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4545000 | PA      | $4577657.73   | 0.22%             | 2031-04-15      | Fixed         | 5.28%                 | Yes           |                  2 | On Loan: No      |
| Apollo Debt Solutions BDC                                                 | Apollo Debt Solutions BDC                                                                 | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |   1938000 | PA      | $2014539.62   | 0.10%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: —       |
| Hawaii Hotel Trust                                                        | Hawaii Hotel Trust, Series 2025-MAUI, Class A                                             | CUSIP: 419909AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3045000 | PA      | $3050907.00   | 0.15%             | 2042-03-15      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Strips, Series 305, Class 5                                                         | CUSIP: 31364JK93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4304 | PA      | $326.77       | 0.00%             | 2029-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                                 | BPR Trust, Series 2022-SSP, Class A                                                       | CUSIP: 05602HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2320000 | PA      | $2323627.32   | 0.11%             | 2039-05-15      | Floating      | 7.31%                 | Yes           |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                                  | Bristol-Myers Squibb Co.                                                                  | CUSIP: 110122CR7<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   5343000 | PA      | $4335285.78   | 0.21%             | 2049-10-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390TK32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2397 | PA      | $2512.36      | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 912828YS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18746000 | PA      | $17266823.44  | 0.84%             | 2029-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DBZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8074 | PA      | $7866.21      | 0.00%             | 2036-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                                       | Rocket Mortgage LLC                                                                       | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1231000 | PA      | $1170692.94   | 0.06%             | 2029-03-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| MACH 1 Cayman Ltd.                                                        | MACH 1 Cayman Ltd., Series 2019-1, Class A                                                | CUSIP: 55446MAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    348729 | PA      | $339492.61    | 0.02%             | 2039-10-15      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31374TG78<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3978 | PA      | $4109.48      | 0.00%             | 2028-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Newtek Small Business Loan Trust                                          | Newtek Small Business Loan Trust, Series 2023-1, Class A                                  | CUSIP: 65254RAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    693598 | PA      | $700986.90    | 0.03%             | 2050-07-25      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Strips, Series 305, Class 6                                                         | CUSIP: 31364JL27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6392 | PA      | $476.19       | 0.00%             | 2029-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                                 | Driven Brands Funding LLC, Series 2020-2A, Class A2                                       | CUSIP: 26209XAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2148827 | PA      | $2056276.98   | 0.10%             | 2051-01-20      | Fixed         | 3.24%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31375WV73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       685 | PA      | $684.01       | 0.00%             | 2026-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Seagate HDD Cayman                                                        | Seagate HDD Cayman                                                                        | CUSIP: 81180WBM2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   3117500 | PA      | $3516770.70   | 0.17%             | 2032-12-01      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1426000 | PA      | $1302347.72   | 0.06%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387CSW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       492 | PA      | $507.90       | 0.00%             | 2031-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ContiMortgage Home Equity Loan Trust                                      | ContiMortgage Home Equity Loan Trust, Series 1995-2, Class A5                             | CUSIP: 21075WBF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17080 | PA      | $15358.94     | 0.00%             | 2025-08-15      | Fixed         | 8.10%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $42732.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sunbird Engine Finance LLC                                                | Sunbird Engine Finance LLC, Series 2020-1A, Class A                                       | CUSIP: 86709LAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    661069 | PA      | $645062.02    | 0.03%             | 2045-02-15      | Fixed         | 3.67%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 31418CTP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     87057 | PA      | $79259.72     | 0.00%             | 2048-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC, REMIC, Series 4265, Class ST                                                       | CUSIP: 3137B5SC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    299020 | PA      | $24435.46     | 0.00%             | 2043-11-15      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                         | Wells Fargo & Co.                                                                         | CUSIP: 95000U2J1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1308000 | PA      | $1198587.37   | 0.06%             | 2031-02-11      | Variable      | 2.57%                 | No            |                  2 | On Loan: No      |
| Castlelake Aircraft Structured Trust                                      | Castlelake Aircraft Structured Trust, Series 2025-1A, Class C                             | CUSIP: 14856VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3155206 | PA      | $3109719.80   | 0.15%             | 2050-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS Trust                                                            | ACHV ABS Trust, Series 2024-3AL, Class C                                                  | CUSIP: 00092KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    825130 | PA      | $826765.27    | 0.04%             | 2031-12-26      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Goddard Funding LLC                                                       | Goddard Funding LLC, Series 2024-1A, Class A2                                             | CUSIP: 380241AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1501455 | PA      | $1525808.90   | 0.07%             | 2054-10-30      | Fixed         | 6.83%                 | Yes           |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                       | Petroleos Mexicanos                                                                       | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   7049000 | PA      | $6814405.76   | 0.33%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| MF1X                                                                      | MF1X, Series 2021-W10, Class E                                                            | CUSIP: 55284DAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   4350000 | PA      | $4269379.28   | 0.21%             | 2034-12-15      | Floating      | 7.13%                 | Yes           |                  2 | On Loan: No      |
| Start II Ltd.                                                             | Start II Ltd., Series 2019-1, Class A                                                     | CUSIP: 85573LAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |   1476498 | PA      | $1462295.85   | 0.07%             | 2044-03-15      | Fixed         | 4.09%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                                           | Jefferies Financial Group, Inc.                                                           | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   7341000 | PA      | $7682528.35   | 0.37%             | 2034-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31386TFG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       297 | PA      | $306.96       | 0.00%             | 2031-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36179MSY7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34860 | PA      | $33532.93     | 0.00%             | 2042-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36179USU7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1343027 | PA      | $1262835.17   | 0.06%             | 2049-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                | FHLMC Gold Pool, Other                                                                    | CUSIP: 3133N3VU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26849 | PA      | $25059.53     | 0.00%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SERVPRO Master Issuer LLC                                                 | SERVPRO Master Issuer LLC, Series 2019-1A, Class A2                                       | CUSIP: 817743AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4488750 | PA      | $4417941.76   | 0.22%             | 2049-10-25      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Seasoned Credit Risk Transfer Trust                                 | FHLMC Seasoned Credit Risk Transfer Trust, Series 2018-4, Class HT                        | CUSIP: 35563PGZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    813257 | PA      | $695000.60    | 0.03%             | 2058-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371HNN4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       393 | PA      | $405.56       | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oportun Issuance Trust                                                    | Oportun Issuance Trust, Series 2025-A, Class C                                            | CUSIP: 68377TAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3991000 | PA      | $3992125.46   | 0.19%             | 2033-02-08      | Fixed         | 5.89%                 | Yes           |                  2 | On Loan: No      |
| Ballyrock CLO 16 Ltd.                                                     | Ballyrock CLO 16 Ltd., Series 2021-16A, Class C1R                                         | CUSIP: 05876KAS4<br>LEI: 2549003CI27B7ZDOMR46 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1476174.00   | 0.07%             | 2038-04-20      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ACM Auto Trust                                                            | ACM Auto Trust, Series 2025-2A, Class A                                                   | CUSIP: 00161TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1913238 | PA      | $1916050.79   | 0.09%             | 2028-06-20      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Oaktree CLO Ltd.                                                          | Oaktree CLO Ltd., Series 2019-4A, Class D2RR                                              | CUSIP: 67402CBN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004514.00   | 0.05%             | 2037-07-20      | Floating      | 8.97%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 31418DD74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     96001 | PA      | $87042.64     | 0.00%             | 2049-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC, REMIC, Series 5556, Class FA                                                       | CUSIP: 3137HMBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5480000 | PA      | $5487075.23   | 0.27%             | 2055-07-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                              | Barclays plc                                                                              | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   2848000 | PA      | $2994464.10   | 0.15%             | 2029-03-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31374TW39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3121 | PA      | $3224.13      | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Neighborly Issuer LLC                                                     | Neighborly Issuer LLC, Series 2021-1A, Class A2                                           | CUSIP: 64016NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4747200 | PA      | $4446610.14   | 0.22%             | 2051-04-30      | Fixed         | 3.58%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC, Multifamily Structured Pass-Through Certificates, Series K125, Class X3            | CUSIP: 3137F9ZB0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9522157 | PA      | $1152949.40   | 0.06%             | 2049-02-25      | Variable      | 2.74%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                                       | CUSIP: 912810RS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14422000 | PA      | $9965827.27   | 0.49%             | 2046-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Cologix Data Centers US Issuer LLC                                        | Cologix Data Centers US Issuer LLC, Series 2021-1A, Class A2                              | CUSIP: 19521UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2125000 | PA      | $2057596.49   | 0.10%             | 2051-12-26      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                                                | STAR Trust, Series 2021-SFR2, Class F                                                     | CUSIP: 78474LAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2490894 | PA      | $2497076.90   | 0.12%             | 2039-01-17      | Floating      | 7.28%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                        | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XEV4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   7009000 | PA      | $7112373.15   | 0.35%             | 2034-04-04      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                           | Santander UK Group Holdings plc                                                           | CUSIP: 80281LAG0<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   1045000 | PA      | $1024365.63   | 0.05%             | 2028-11-03      | Variable      | 3.82%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                                       | CUSIP: 912810TB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5226000 | PA      | $2909412.19   | 0.14%             | 2051-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                                         | Alliant Holdings Intermediate LLC                                                         | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4317000 | PA      | $4468807.31   | 0.22%             | 2031-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387FJD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1533 | PA      | $1597.50      | 0.00%             | 2031-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Blue Owl Credit Income Corp.                                              | Blue Owl Credit Income Corp.                                                              | CUSIP: 09581CAB7<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1489000 | PA      | $1532484.43   | 0.07%             | 2029-09-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DNN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     21887 | PA      | $21355.94     | 0.00%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goodgreen Trust                                                           | Goodgreen Trust, Series 2021-1A, Class C                                                  | CUSIP: 38217UAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1966398 | PA      | $1578507.08   | 0.08%             | 2056-10-15      | Fixed         | 5.74%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                      | LHOME Mortgage Trust, Series 2024-RTL1, Class A1                                          | CUSIP: 50205DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3290000 | PA      | $3323677.10   | 0.16%             | 2029-01-25      | Variable      | 7.02%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                                                    | Truist Financial Corp.                                                                    | CUSIP: 89788MAP7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   5191000 | PA      | $5424909.21   | 0.26%             | 2034-06-08      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                  | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  12482600 | NS      | $12482599.60  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BFLD Mortgage Trust                                                       | BFLD Mortgage Trust, Series 2024-VICT, Class A                                            | CUSIP: 05555VAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7900000 | PA      | $7932757.35   | 0.39%             | 2041-07-15      | Floating      | 6.20%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31380MFU5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1106 | PA      | $1142.72      | 0.00%             | 2028-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FortiFi                                                                   | FortiFi, Series 2023-1A, Class A                                                          | CUSIP: 34964YAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   2513181 | PA      | $2485915.23   | 0.12%             | 2059-09-20      | Fixed         | 6.23%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                      | Ally Financial, Inc.                                                                      | CUSIP: 370425RZ5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2307000 | PA      | $2608936.68   | 0.13%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 3140JJME6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    124232 | PA      | $113435.26    | 0.01%             | 2048-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31374T2L2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2002 | PA      | $2067.59      | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                               | Extended Stay America Trust, Series 2021-ESH, Class D                                     | CUSIP: 30227FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3593879 | PA      | $3602264.42   | 0.18%             | 2038-07-15      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3140HDJW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    249601 | PA      | $235698.43    | 0.01%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31388FFW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       209 | PA      | $217.84       | 0.00%             | 2031-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA or FHLMC                                                             | UMBS, Single Family, 30 Year                                                              | CUSIP: 01F060675<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        | 101371000 | PA      | $103022267.70 | 5.03%             | 2055-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390TJ67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1624 | PA      | $1686.72      | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31402CY22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       547 | PA      | $570.25       | 0.00%             | 2034-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387JSA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        11 | PA      | $10.76        | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Brookfield Asset Management Ltd.                                          | Brookfield Asset Management Ltd.                                                          | CUSIP: 113004AA3<br>LEI: 549300CZ84WPNJZKY093 | Long             | DBT              | CORP              | CA        |   6301000 | PA      | $6468177.06   | 0.32%             | 2035-04-24      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Bryant Park Funding Ltd.                                                  | Bryant Park Funding Ltd., Series 2023-20A, Class DR                                       | CUSIP: 117919AJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3008550.00   | 0.15%             | 2038-04-15      | Floating      | 7.73%                 | Yes           |                  2 | On Loan: No      |
| ServiceMaster Funding LLC                                                 | ServiceMaster Funding LLC, Series 2021-1, Class A2I                                       | CUSIP: 81761TAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2666662 | PA      | $2453347.27   | 0.12%             | 2051-07-30      | Fixed         | 2.87%                 | Yes           |                  2 | On Loan: No      |
| Loanpal Solar Loan Ltd.                                                   | Loanpal Solar Loan Ltd., Series 2021-1GS, Class A                                         | CUSIP: 53948PAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    833865 | PA      | $697058.62    | 0.03%             | 2048-01-20      | Fixed         | 2.29%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 31418DK27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    356001 | PA      | $321667.83    | 0.02%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Nexa Resources SA                                                         | Nexa Resources SA                                                                         | CUSIP: 65290DAB9<br>LEI: 549300QRMRHM7GAU7L47 | Long             | DBT              | CORP              | LU        |   2387000 | PA      | $2494811.24   | 0.12%             | 2034-04-09      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust                                                | J.P. Morgan Mortgage Trust, Series 2007-A4, Class 2A3                                     | CUSIP: 46631JAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     42151 | PA      | $33067.18     | 0.00%             | 2037-06-25      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, REMIC, Series 1997-57, Class PV                                                     | CUSIP: 31359QJV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7119 | PA      | $364.68       | 0.00%             | 2027-09-18      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Strips, Series 305, Class 11                                                        | CUSIP: 31364JL76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11328 | PA      | $907.70       | 0.00%             | 2029-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391ASF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4740 | PA      | $4977.83      | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Barings CLO Ltd.                                                          | Barings CLO Ltd., Series 2019-4A, Class D2R                                               | CUSIP: 06761VAY3<br>LEI: 549300QO1I8V07FLPQ13 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005125.00   | 0.05%             | 2037-07-15      | Floating      | 8.86%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, 30 Year                                                                  | CUSIP: 31293UBZ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       169 | PA      | $169.90       | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Tricon Residential Trust                                                  | Tricon Residential Trust, Series 2025-SFR1, Class B                                       | CUSIP: 895974AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1803457.08   | 0.09%             | 2042-03-17      | Floating      | 5.66%                 | Yes           |                  2 | On Loan: No      |
| California Buyer Ltd.                                                     | California Buyer Ltd.                                                                     | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    250000 | PA      | $250630.00    | 0.01%             | 2032-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Harvest US CLO Ltd.                                                       | Harvest US CLO Ltd., Series 2024-2A, Class D1                                             | CUSIP: 41756YAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1503099.00   | 0.07%             | 2037-10-15      | Floating      | 7.51%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387H3F5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3586 | PA      | $3725.47      | 0.00%             | 2031-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| New Flyer Holdings, Inc.                                                  | New Flyer Holdings, Inc.                                                                  | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $263957.93    | 0.01%             | 2030-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371HLU0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2065 | PA      | $2133.30      | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oscar US Funding XVI LLC                                                  | Oscar US Funding XVI LLC, Series 2024-1A, Class A2                                        | CUSIP: 68784GAB9<br>LEI: 3538004TGTV49T7RNL88 | Long             | ABS-O            | CORP              | JP        |    941412 | PA      | $944453.60    | 0.05%             | 2027-02-10      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| TX Trust                                                                  | TX Trust, Series 2024-HOU, Class A                                                        | CUSIP: 90216DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3350000 | PA      | $3334284.15   | 0.16%             | 2039-06-15      | Floating      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31400C4G6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4753 | PA      | $4997.83      | 0.00%             | 2033-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31383HYG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4939 | PA      | $5197.98      | 0.00%             | 2029-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31335Y5S1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5928 | PA      | $5671.51      | 0.00%             | 2038-02-01      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391PJC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       631 | PA      | $659.97       | 0.00%             | 2032-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                                 | Driven Brands Funding LLC, Series 2019-1A, Class A2                                       | CUSIP: 26208LAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3168708 | PA      | $3158009.96   | 0.15%             | 2049-04-20      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| Centene Corp.                                                             | Centene Corp.                                                                             | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   5017000 | PA      | $4624487.48   | 0.23%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: —       |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382GAZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       206 | PA      | $212.43       | 0.00%             | 2029-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 31418DE40<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    164212 | PA      | $153628.75    | 0.01%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397G23<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1106000 | PA      | $1086477.66   | 0.05%             | 2029-09-06      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                                        | Arches Buyer, Inc.                                                                        | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   4237000 | PA      | $4058159.20   | 0.20%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: —       |
| EPR Properties                                                            | EPR Properties                                                                            | CUSIP: 26884UAG4<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   4008000 | PA      | $3643049.16   | 0.18%             | 2031-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Benchmark Mortgage Trust                                                  | Benchmark Mortgage Trust, Series 2020-B18, Class AGNE                                     | CUSIP: 08163ABP7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1980335.00   | 0.10%             | 2053-07-15      | Fixed         | 3.76%                 | Yes           |                  2 | On Loan: No      |
| INTOWN Mortgage Trust                                                     | INTOWN Mortgage Trust, Series 2025-STAY, Class D                                          | CUSIP: 46117WAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5357000 | PA      | $5355282.01   | 0.26%             | 2042-03-15      | Floating      | 7.16%                 | Yes           |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust                                            | HLTN Commercial Mortgage Trust, Series 2024-DPLO, Class A                                 | CUSIP: 40424UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3164100 | PA      | $3170649.69   | 0.15%             | 2041-06-15      | Floating      | 5.95%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36202FZY5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     35782 | PA      | $34487.07     | 0.00%             | 2041-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LPL Holdings, Inc.                                                        | LPL Holdings, Inc.                                                                        | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   5289000 | PA      | $5353109.13   | 0.26%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BAMLL Trust                                                               | BAMLL Trust, Series 2024-BHP, Class A                                                     | CUSIP: 05493WAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1359000 | PA      | $1368512.59   | 0.07%             | 2039-08-15      | Floating      | 6.66%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390CR99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       829 | PA      | $864.47       | 0.00%             | 2032-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding LLC                                                 | Driven Brands Funding LLC, Series 2020-1A, Class A2                                       | CUSIP: 26209XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3076291 | PA      | $3006158.90   | 0.15%             | 2050-07-20      | Fixed         | 3.79%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                  | Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        | 303132240 | NS      | $303132240.32 | 14.79%            |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390Q6U4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6081 | PA      | $6362.32      | 0.00%             | 2032-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Group, Inc.                                                | Liberty Mutual Group, Inc.                                                                | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   4805000 | PA      | $4680614.02   | 0.23%             | 2051-12-15      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371J7F5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        51 | PA      | $53.45        | 0.00%             | 2031-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BAMLL Commercial Mortgage Securities Trust                                | BAMLL Commercial Mortgage Securities Trust, Series 2019-BPR, Class BNM                    | CUSIP: 05492PAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3440000 | PA      | $3229596.53   | 0.16%             | 2032-11-05      | Fixed         | 3.46%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                                | UMBS Pool, 30 Year                                                                        | CUSIP: 3132AD3U0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    238758 | PA      | $231640.78    | 0.01%             | 2049-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLT Trust                                                                | COLT Trust, Series 2021-RPL1, Class A1                                                    | CUSIP: 12598PAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1012211 | PA      | $917837.79    | 0.04%             | 2061-09-25      | Variable      | 1.67%                 | Yes           |                  2 | On Loan: No      |
| SHR Trust                                                                 | SHR Trust, Series 2024-LXRY, Class A                                                      | CUSIP: 784234AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3475000 | PA      | $3479307.61   | 0.17%             | 2041-10-15      | Floating      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| Sixth Street CLO XX Ltd.                                                  | Sixth Street CLO XX Ltd., Series 2021-20A, Class D1R                                      | CUSIP: 83012QAW4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | PA      | $2258437.50   | 0.11%             | 2038-07-17      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| American National Group, Inc.                                             | American National Group, Inc.                                                             | CUSIP: 025676AN7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   2299000 | PA      | $2355391.94   | 0.11%             | 2029-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Battalion CLO XXIX Ltd.                                                   | Battalion CLO XXIX Ltd., Series 2025-29A, Class D1                                        | CUSIP: 07135TAJ8<br>LEI: 254900BHK74DPDADPT35 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1505625.00   | 0.07%             | 2038-03-31      | Floating      | 7.58%                 | Yes           |                  2 | On Loan: No      |
| DB Master Finance LLC                                                     | DB Master Finance LLC, Series 2017-1A, Class A2II                                         | CUSIP: 233046AF8<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |   2545060 | PA      | $2520807.61   | 0.12%             | 2047-11-20      | Fixed         | 4.03%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                                       | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  72546000 | PA      | $74535347.71  | 3.64%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DF22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15956 | PA      | $15503.26     | 0.00%             | 2037-08-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                  | PNC Financial Services Group, Inc. (The)                                                  | CUSIP: 693475CC7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2080000 | PA      | $2144625.56   | 0.10%             | 2036-01-29      | Variable      | 5.58%                 | No            |                  2 | On Loan: —       |
| STAR Trust                                                                | STAR Trust, Series 2025-SFR5, Class C                                                     | CUSIP: 85520CAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2753000 | PA      | $2756328.93   | 0.13%             | 2042-02-17      | Floating      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| AASET                                                                     | AASET, Series 2025-1A, Class A                                                            | CUSIP: 00258PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4584884 | PA      | $4678236.25   | 0.23%             | 2050-02-16      | Fixed         | 5.94%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                             | TerraForm Power Operating LLC                                                             | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   2743000 | PA      | $2627894.12   | 0.13%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA II, Single Family, 30 Year                                                           | CUSIP: 36194TQH2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     89058 | PA      | $81787.40     | 0.00%             | 2046-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1384000 | PA      | $1419610.00   | 0.07%             | 2031-01-24      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| Eaton Vance High Yield ETF                                                | Eaton Vance High Yield ETF                                                                | CUSIP: 61774R809<br>LEI: 25490092F7UI2XO21N32 | Long             |  | RF                | US        |      9300 | NS      | $494106.21    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371HQX9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3264 | PA      | $3372.09      | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                      | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PEG7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   9517000 | PA      | $9883865.22   | 0.48%             | 2030-04-22      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384V3E0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       234 | PA      | $241.40       | 0.00%             | 2030-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31374TTT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1298 | PA      | $1340.67      | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384VX56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       215 | PA      | $221.84       | 0.00%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oportun Issuance Trust                                                    | Oportun Issuance Trust, Series 2021-C, Class A                                            | CUSIP: 68377WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1184511 | PA      | $1157420.33   | 0.06%             | 2031-10-08      | Fixed         | 2.18%                 | Yes           |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                   | Raizen Fuels Finance SA                                                                   | CUSIP: 75102XAD8<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |   3264000 | PA      | $3058368.00   | 0.15%             | 2035-01-17      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: —       |
| FMC Issuer Trust-FMSR                                                     | FMC Issuer Trust-FMSR, Series 2024-FT1, Class A                                           | CUSIP: 30191JAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2810000 | PA      | $2849877.83   | 0.14%             | 2029-09-25      | Fixed         | 6.56%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CAE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8455000 | PA      | $7212676.50   | 0.35%             | 2030-08-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                  | Celanese US Holdings LLC                                                                  | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    717000 | PA      | $691627.31    | 0.03%             | 2026-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury 10 Year Ultra Bonds                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -37 | NC      | $-55180.79    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co.                                                            | Ford Motor Co.                                                                            | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   6501000 | PA      | $5483401.72   | 0.27%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Virgin Media Vendor Financing Notes IV DAC                                | Virgin Media Vendor Financing Notes IV DAC                                                | CUSIP: 92770QAA5<br>LEI: 635400ZZNJSEA4CAJR23 | Long             | DBT              | CORP              | IE        |   2641000 | PA      | $2587257.23   | 0.13%             | 2028-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| Societe Generale SA                                                       | Societe Generale SA                                                                       | CUSIP: 83368RAY8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3398000 | PA      | $3121268.00   | 0.15%             | 2035-07-08      | Variable      | 3.65%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CGP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18392000 | PA      | $18534250.72  | 0.90%             | 2028-02-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31379JSQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2191 | PA      | $2263.45      | 0.00%             | 2028-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Banque Ouest Africaine de Developpement                                   | Banque Ouest Africaine de Developpement                                                   | CUSIP: 06675QAC7<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | NUSS              | US        |   1240000 | PA      | $1133513.24   | 0.06%             | 2031-10-22      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                      | LHOME Mortgage Trust, Series 2023-RTL2, Class A1                                          | CUSIP: 50205BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    751000 | PA      | $755984.31    | 0.04%             | 2028-06-25      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Commercial Mortgage Trust                                                 | Commercial Mortgage Trust, Series 2019-GC44, Class 180B                                   | CUSIP: 12655TAY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1271825.66   | 0.06%             | 2057-08-15      | Variable      | 3.51%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                                    | Oportun Issuance Trust, Series 2021-B, Class B                                            | CUSIP: 68377GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2331590 | PA      | $2277225.13   | 0.11%             | 2031-05-08      | Fixed         | 1.96%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                             | TerraForm Power Operating LLC                                                             | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1545171.73   | 0.08%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31381FW71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        58 | PA      | $58.13        | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Navigator Aviation Ltd.                                                   | Navigator Aviation Ltd., Series 2024-1, Class A                                           | CUSIP: 63943DAA7<br>LEI: 984500UF8C3O89B30652 | Long             | ABS-O            | CORP              | KY        |   1929857 | PA      | $1912833.34   | 0.09%             | 2049-08-15      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Centene Corp.                                                             | Centene Corp.                                                                             | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   5900000 | PA      | $5083745.62   | 0.25%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BFLD Commercial Mortgage Trust                                            | BFLD Commercial Mortgage Trust, Series 2024-UNIV, Class B                                 | CUSIP: 08861RAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3009021.00   | 0.15%             | 2041-11-15      | Floating      | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Goodgreen Trust                                                           | Goodgreen Trust, Series 2020-1A, Class C                                                  | CUSIP: 38217TAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1385765 | PA      | $1142501.66   | 0.06%             | 2055-04-15      | Fixed         | 5.53%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390UQD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1020 | PA      | $1073.22      | 0.00%             | 2032-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384V4M1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4965 | PA      | $5128.86      | 0.00%             | 2030-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                              | Dell Equipment Finance Trust, Series 2023-3, Class A3                                     | CUSIP: 24702EAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    618273 | PA      | $621813.03    | 0.03%             | 2029-04-23      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero             | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero                             | CUSIP: 05533UAF5<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   2650000 | PA      | $2548586.36   | 0.12%             | 2033-01-18      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                            | Olympus Water US Holding Corp.                                                            | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   3804000 | PA      | $4010481.12   | 0.20%             | 2028-11-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                 | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397D67<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2173000 | PA      | $2256263.15   | 0.11%             | 2033-11-07      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, 30 Year                                                                             | CUSIP: 31411NJG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15139 | PA      | $14704.37     | 0.00%             | 2036-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382WUJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       254 | PA      | $262.86       | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ChaseFlex Trust                                                           | ChaseFlex Trust, Series 2007-1, Class 2A8                                                 | CUSIP: 16165VAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    578170 | PA      | $195664.11    | 0.01%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| American International Group, Inc.                                        | American International Group, Inc.                                                        | CUSIP: 026874DW4<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   2111000 | PA      | $2145644.63   | 0.10%             | 2030-05-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | Forward Foreign Currency Contract                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $18446.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| U.S. Bancorp                                                              | U.S. Bancorp                                                                              | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1771000 | PA      | $1860926.46   | 0.09%             | 2034-06-12      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                                   | BPCE SA                                                                                   | CUSIP: 05571AAZ8<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   5841000 | PA      | $6060743.38   | 0.30%             | 2031-01-14      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: —       |
| NYCT Trust                                                                | NYCT Trust, Series 2024-3ELV, Class A                                                     | CUSIP: 62956HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4664000 | PA      | $4696553.79   | 0.23%             | 2029-08-15      | Floating      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31416XW48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    224036 | PA      | $221893.57    | 0.01%             | 2041-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LOANDEPOT GMSR Trust                                                      | loanDepot GMSR Trust, Series 2025-GT1, Class A                                            | CUSIP: 53946TAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6401000 | PA      | $6401000.00   | 0.31%             | 2030-05-16      | Floating      | 7.16%                 | Yes           |                  2 | On Loan: No      |
| TYSN Mortgage Trust                                                       | TYSN Mortgage Trust, Series 2023-CRNR, Class A                                            | CUSIP: 87332PAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1127000 | PA      | $1194787.47   | 0.06%             | 2033-12-10      | Variable      | 6.80%                 | Yes           |                  2 | On Loan: No      |
| Intel Corp.                                                               | Intel Corp.                                                                               | CUSIP: 458140CB4<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   3883800 | PA      | $3214415.03   | 0.16%             | 2052-08-05      | Fixed         | 4.90%                 | No            |                  2 | On Loan: —       |
| BNP Paribas SA                                                            | BNP Paribas SA                                                                            | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3645000 | PA      | $3842832.38   | 0.19%             | 2029-08-16      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31388PL25<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       117 | PA      | $121.67       | 0.00%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                                                          | SLG Office Trust, Series 2021-OVA, Class X                                                | CUSIP: 78449RAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  34800000 | PA      | $428523.72    | 0.02%             | 2041-07-15      | Variable      | 0.26%                 | Yes           |                  2 | On Loan: No      |
| GWT                                                                       | GWT, Series 2024-WLF2, Class A                                                            | CUSIP: 362414AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3613000 | PA      | $3627247.87   | 0.18%             | 2041-05-15      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31323AEL2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     25467 | PA      | $23121.21     | 0.00%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Athene Holding Ltd.                                                       | Athene Holding Ltd.                                                                       | CUSIP: 04686JAL5<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |   6488000 | PA      | $6691260.99   | 0.33%             | 2055-05-19      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | U.S. Treasury Ultra Bonds                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       256 | NC      | $1154605.38   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ReadyCap Lending Small Business Loan Trust                                | ReadyCap Lending Small Business Loan Trust, Series 2019-2, Class A                        | CUSIP: 75576QAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     84273 | PA      | $84216.42     | 0.00%             | 2044-12-27      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391DLL5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       732 | PA      | $756.58       | 0.00%             | 2032-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC Gold Pool, Other                                                                    | CUSIP: 31286DKJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      7891 | PA      | $7540.71      | 0.00%             | 2037-09-01      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico | BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero                             | CUSIP: 072912AA6<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   1757000 | PA      | $1808480.10   | 0.09%             | 2035-02-11      | Variable      | 7.62%                 | Yes           |                  2 | On Loan: —       |
| FirstKey Homes Trust                                                      | FirstKey Homes Trust, Series 2021-SFR3, Class G                                           | CUSIP: 33768JAW1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $951895.40    | 0.05%             | 2038-12-17      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| Seaspan Corp.                                                             | Seaspan Corp.                                                                             | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |   4100000 | PA      | $3901176.24   | 0.19%             | 2029-08-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Citadel Securities Global Holdings LLC                                    | Citadel Securities Global Holdings LLC                                                    | CUSIP: 17289RAB2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |   1425000 | PA      | $1462709.48   | 0.07%             | 2035-06-18      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| CSMC Trust                                                                | CSMC Trust, Series 2021-BPNY, Class A                                                     | CUSIP: 12659XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6104604 | PA      | $5728577.28   | 0.28%             | 2026-08-15      | Floating      | 8.14%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 3140QCDT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    225827 | PA      | $204047.98    | 0.01%             | 2049-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31374TV48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       555 | PA      | $573.61       | 0.00%             | 2029-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7062000 | PA      | $7087379.06   | 0.35%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3138Y6Y73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    139251 | PA      | $137319.80    | 0.01%             | 2044-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PMT Issuer Trust-FMSR                                                     | PMT Issuer Trust-FMSR, Series 2021-FT1, Class A                                           | CUSIP: 69346MAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3900000 | PA      | $3921415.29   | 0.19%             | 2026-03-25      | Floating      | 7.43%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31389L6F1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       488 | PA      | $516.39       | 0.00%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Planet Fitness Master Issuer LLC                                          | Planet Fitness Master Issuer LLC, Series 2024-1A, Class A2I                               | CUSIP: 72703PAF0<br>LEI: 549300NX9W3U2DO53T22 | Long             | ABS-O            | CORP              | US        |   6622952 | PA      | $6729382.68   | 0.33%             | 2054-06-05      | Fixed         | 5.76%                 | Yes           |                  2 | On Loan: No      |
| Fortrea Holdings, Inc.                                                    | Fortrea Holdings, Inc.                                                                    | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1232738.54   | 0.06%             | 2030-07-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: —       |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3138X0PH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    192118 | PA      | $184962.65    | 0.01%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Synovus Financial Corp.                                                   | Synovus Financial Corp.                                                                   | CUSIP: 87161CAP0<br>LEI: 549300EIUS8UN5JTLE54 | Long             | DBT              | CORP              | US        |   5468000 | PA      | $5611209.33   | 0.27%             | 2030-11-01      | Variable      | 6.17%                 | No            |                  2 | On Loan: —       |
| Banco Santander SA                                                        | Banco Santander SA                                                                        | CUSIP: 05964HAQ8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2386000 | PA      | $2372810.50   | 0.12%             | 2028-03-24      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                  | BX Trust, Series 2025-GW, Class E                                                         | CUSIP: 12433GAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3975000 | PA      | $3996948.36   | 0.19%             | 2042-07-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Continental Resources, Inc.                                               | Continental Resources, Inc.                                                               | CUSIP: 212015AV3<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    900000 | PA      | $757075.64    | 0.04%             | 2032-04-01      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: —       |
| Eaton Vance Ultra-Short Income ETF                                        | Eaton Vance Ultra-Short Income ETF                                                        | CUSIP: 61774R700<br>LEI: 254900V7QBF5XYWO0K24 | Long             |  | RF                | US        |     27000 | NS      | $1371870.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AIB Group plc                                                             | AIB Group plc                                                                             | CUSIP: 00135TAF1<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |   8116000 | PA      | $8261090.54   | 0.40%             | 2031-05-15      | Variable      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371GZ86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       648 | PA      | $669.32       | 0.00%             | 2028-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 912828ZQ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3611000 | PA      | $3107575.83   | 0.15%             | 2030-05-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| SoFi Consumer Loan Program Trust                                          | SoFi Consumer Loan Program Trust, Series 2025-2, Class C                                  | CUSIP: 83407HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5169000 | PA      | $5228813.60   | 0.26%             | 2034-06-25      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| ServiceMaster Funding LLC                                                 | ServiceMaster Funding LLC, Series 2020-1, Class A2I                                       | CUSIP: 81761TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2675608 | PA      | $2489125.18   | 0.12%             | 2051-01-30      | Fixed         | 2.84%                 | Yes           |                  2 | On Loan: No      |
| SG Commercial Mortgage Securities Trust                                   | SG Commercial Mortgage Securities Trust, Series 2020-COVE, Class E                        | CUSIP: 78397FAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1900000 | PA      | $1563099.60   | 0.08%             | 2037-03-15      | Variable      | 3.85%                 | Yes           |                  2 | On Loan: No      |
| Oportun Issuance Trust                                                    | Oportun Issuance Trust, Series 2025-A, Class B                                            | CUSIP: 68377TAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1515000 | PA      | $1513985.86   | 0.07%             | 2033-02-08      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust                                              | BX Commercial Mortgage Trust, Series 2022-CSMO, Class B                                   | CUSIP: 05610MAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5100000 | PA      | $5150922.48   | 0.25%             | 2027-06-15      | Floating      | 7.45%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                                              | CaixaBank SA                                                                              | CUSIP: 12803RAC8<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   9071000 | PA      | $9968249.44   | 0.49%             | 2034-09-13      | Variable      | 6.84%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                              | GS Mortgage Securities Trust, Series 2015-GC34, Class XA                                  | CUSIP: 36250VAF9<br>LEI: 54930070360RBP384M53 | Long             | ABS-MBS          | CORP              | US        |   3174843 | PA      | $94.61        | 0.00%             | 2048-10-10      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                                     | Foundry JV Holdco LLC                                                                     | CUSIP: 350930AH6<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |  12476000 | PA      | $12922632.94  | 0.63%             | 2036-01-25      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                            | BNP Paribas SA                                                                            | CUSIP: 09659W2V5<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3620000 | PA      | $3675571.38   | 0.18%             | 2029-01-13      | Variable      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 31418DBR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17060 | PA      | $14943.90     | 0.00%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SDR Commercial Mortgage Trust                                             | SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A                                  | CUSIP: 811304AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1193000 | PA      | $1192990.81   | 0.06%             | 2039-05-15      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                                         | Rocket Cos., Inc.                                                                         | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $256112.63    | 0.01%             | 2033-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 3140QVDM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4330164 | PA      | $4332165.47   | 0.21%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31400Y4F0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9824 | PA      | $10345.81     | 0.00%             | 2033-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HYT Commercial Mortgage Trust                                             | HYT Commercial Mortgage Trust, Series 2024-RGCY, Class B                                  | CUSIP: 449173AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    289000 | PA      | $289265.91    | 0.01%             | 2041-09-15      | Floating      | 6.65%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387GW32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1986 | PA      | $2069.72      | 0.00%             | 2031-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SERVPRO Master Issuer LLC                                                 | SERVPRO Master Issuer LLC, Series 2024-1A, Class A2                                       | CUSIP: 817743AJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    622125 | PA      | $641966.25    | 0.03%             | 2054-01-25      | Fixed         | 6.17%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS Trust                                                            | ACHV ABS Trust, Series 2024-3AL, Class D                                                  | CUSIP: 00092KAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1762465.60   | 0.09%             | 2031-12-26      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                                 | Bank of Nova Scotia (The)                                                                 | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   6860000 | PA      | $7291912.46   | 0.36%             | 2084-01-27      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| A/S Mileage Plan IP Ltd.                                                  | A/S Mileage Plan IP Ltd.                                                                  | CUSIP: 00218QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    960000 | PA      | $945052.77    | 0.05%             | 2031-10-20      | Fixed         | 5.31%                 | Yes           |                  2 | On Loan: No      |
| Zegona Finance plc                                                        | Zegona Finance plc                                                                        | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |   5940000 | PA      | $6352800.30   | 0.31%             | 2029-07-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Marex Group plc                                                           | Marex Group plc                                                                           | CUSIP: 566539AA0<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |   6744000 | PA      | $6944685.32   | 0.34%             | 2029-11-04      | Fixed         | 6.40%                 | No            |                  2 | On Loan: —       |
| Playtika Holding Corp.                                                    | Playtika Holding Corp.                                                                    | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |   4147000 | PA      | $3767238.48   | 0.18%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| STAR Trust                                                                | STAR Trust, Series 2021-SFR1, Class G                                                     | CUSIP: 85521DAN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $797819.92    | 0.04%             | 2038-04-17      | Floating      | 7.63%                 | Yes           |                  2 | On Loan: No      |
| Biogen, Inc.                                                              | Biogen, Inc.                                                                              | CUSIP: 09062XAM5<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |   5852000 | PA      | $6030490.68   | 0.29%             | 2055-05-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387KDB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12902 | PA      | $13417.09     | 0.00%             | 2031-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384ACL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        35 | PA      | $35.85        | 0.00%             | 2029-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31382UMR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       268 | PA      | $276.45       | 0.00%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Bonds                                                                       | CUSIP: 912810RT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    679000 | PA      | $445036.76    | 0.02%             | 2046-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                              | Oracle Corp.                                                                              | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    297000 | PA      | $207897.39    | 0.01%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Gilead Aviation LLC                                                       | Gilead Aviation LLC, Series 2025-1A, Class A                                              | CUSIP: 37556TAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3555967 | PA      | $3628739.10   | 0.18%             | 2050-03-15      | Fixed         | 5.79%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391K2E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        98 | PA      | $103.03       | 0.00%             | 2033-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Strips, Series 305, Class 9                                                         | CUSIP: 31364JL50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7387 | PA      | $548.12       | 0.00%             | 2029-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31391G3E4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8292 | PA      | $8714.92      | 0.00%             | 2032-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FMC GMSR Issuer Trust                                                     | FMC GMSR Issuer Trust, Series 2022-GT2, Class A                                           | CUSIP: 30259RAP0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2675000 | PA      | $2720501.22   | 0.13%             | 2027-07-25      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| Jersey Mike's Funding                                                     | Jersey Mike's Funding, Series 2021-1A, Class A2I                                          | CUSIP: 476681AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2475000 | PA      | $2398342.82   | 0.12%             | 2052-02-15      | Fixed         | 2.89%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                                       | Rocket Mortgage LLC                                                                       | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5695000 | PA      | $5283729.14   | 0.26%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| American National Group, Inc.                                             | American National Group, Inc.                                                             | CUSIP: 02772AAA7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   3044000 | PA      | $3124926.02   | 0.15%             | 2032-06-13      | Fixed         | 6.14%                 | Yes           |                  2 | On Loan: —       |
| FHLMC                                                                     | FHLMC, Multifamily Structured Pass-Through Certificates, Series K1522, Class X3           | CUSIP: 3137H4RJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4400000 | PA      | $1047455.64   | 0.05%             | 2036-11-25      | Variable      | 3.17%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Securities Trust                              | Natixis Commercial Mortgage Securities Trust, Series 2018-ALXA, Class E                   | CUSIP: 63874GAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $670872.96    | 0.03%             | 2043-01-15      | Variable      | 4.46%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31403RFD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10479 | PA      | $11121.10     | 0.00%             | 2033-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                     | Bank of America Corp.                                                                     | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   7705000 | PA      | $7925326.09   | 0.39%             | 2036-01-24      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| Lunar Aircraft Ltd.                                                       | Lunar Aircraft Ltd., Series 2020-1A, Class A                                              | CUSIP: 55037LAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    234313 | PA      | $228635.45    | 0.01%             | 2045-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| BF Mortgage Trust                                                         | BF Mortgage Trust, Series 2019-NYT, Class A                                               | CUSIP: 62954PAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2222000 | PA      | $2185804.29   | 0.11%             | 2035-12-15      | Floating      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31380PJE0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       503 | PA      | $520.09       | 0.00%             | 2028-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ballyrock CLO 15 Ltd.                                                     | Ballyrock CLO 15 Ltd., Series 2021-1A, Class D1R                                          | CUSIP: 05875TAS6<br>LEI: 254900DRHPTI08KKW784 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001976.00   | 0.05%             | 2038-01-15      | Floating      | 7.11%                 | Yes           |                  2 | On Loan: No      |
| Wendy's Funding LLC                                                       | Wendy's Funding LLC, Series 2019-1A, Class A2I                                            | CUSIP: 95058XAG3<br>LEI: 5493009DRVSTWJOXUL48 | Long             | ABS-O            | CORP              | US        |   1016735 | PA      | $1003630.60   | 0.05%             | 2049-06-15      | Fixed         | 3.78%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31385HQ88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       832 | PA      | $859.28       | 0.00%             | 2030-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                      | FREMF Mortgage Trust, Series 2016-KF21, Class B                                           | CUSIP: 30289XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     44850 | PA      | $9633.85      | 0.00%             | 2026-07-25      | Floating      | 9.68%                 | Yes           |                  2 | On Loan: No      |
| ORL Trust                                                                 | ORL Trust, Series 2024-GLKS, Class D                                                      | CUSIP: 67120DAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1367000 | PA      | $1368087.31   | 0.07%             | 2039-12-15      | Floating      | 7.10%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31402KY24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5012 | PA      | $5273.91      | 0.00%             | 2033-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ELFI Graduate Loan Program LLC                                            | ELFI Graduate Loan Program LLC, Series 2022-A, Class A                                    | CUSIP: 28628CAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1134271 | PA      | $1111152.37   | 0.05%             | 2047-08-26      | Fixed         | 4.51%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co. (The)                                                          | Boeing Co. (The)                                                                          | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2646000 | PA      | $2539957.05   | 0.12%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, 30 Year                                                                             | CUSIP: 3140Q8HY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    449315 | PA      | $409843.67    | 0.02%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Global Atlantic Fin Co.                                                   | Global Atlantic Fin Co.                                                                   | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   3535000 | PA      | $3689048.23   | 0.18%             | 2054-10-15      | Variable      | 7.95%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 91282CJL6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15961000 | PA      | $15996305.89  | 0.78%             | 2025-11-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO XV Ltd.                                               | MidOcean Credit CLO XV Ltd., Series 2024-15A, Class D                                     | CUSIP: 59801FAJ2<br>LEI: 254900R5AXF91DYP1Y16 | Long             | ABS-CBDO         | CORP              | JE        |   2000000 | PA      | $2002372.00   | 0.10%             | 2037-07-21      | Floating      | 7.62%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | FNMA, Other                                                                               | CUSIP: 31418DF31<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    181208 | PA      | $169529.37    | 0.01%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31384VZB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       874 | PA      | $903.09       | 0.00%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cajun Global LLC                                                          | Cajun Global LLC, Series 2021-1, Class A2                                                 | CUSIP: 12803VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7956102 | PA      | $7793668.32   | 0.38%             | 2051-11-20      | Fixed         | 3.93%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31390PT49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3290 | PA      | $3448.53      | 0.00%             | 2032-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STAR Trust                                                                | STAR Trust, Series 2022-SFR3, Class F                                                     | CUSIP: 78474PAN7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2080000 | PA      | $2085693.79   | 0.10%             | 2039-05-17      | Floating      | 8.81%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                                  | U.S. Treasury Notes                                                                       | CUSIP: 912828ZN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5658000 | PA      | $5335980.25   | 0.26%             | 2027-04-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                           | BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1                               | CUSIP: 10569BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1076196 | PA      | $1005067.11   | 0.05%             | 2059-05-25      | Variable      | 2.00%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31389FF56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       287 | PA      | $296.94       | 0.00%             | 2032-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371KDL2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2935 | PA      | $3051.69      | 0.00%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bear Stearns ARM Trust                                                    | Bear Stearns ARM Trust, Series 2003-9, Class 3A3                                          | CUSIP: 07384MC75<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    306917 | PA      | $290249.29    | 0.01%             | 2034-02-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Eaton Vance Short Duration Income ETF                                     | Eaton Vance Short Duration Income ETF                                                     | CUSIP: 61774R825<br>LEI: 254900H1WCGW58VEGZ62 | Long             |  | RF                | US        |    210000 | NS      | $10737300.00  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties LP                                                | COPT Defense Properties LP                                                                | CUSIP: 22003BAM8<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |   2555000 | PA      | $2261290.38   | 0.11%             | 2031-04-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: —       |
| Oportun Funding Trust                                                     | Oportun Funding Trust, Series 2024-3, Class B                                             | CUSIP: 68377NAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1020000 | PA      | $1021418.82   | 0.05%             | 2029-08-15      | Fixed         | 5.48%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31388J3B9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5015 | PA      | $5214.78      | 0.00%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31371GRS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1678 | PA      | $1732.88      | 0.00%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Nuveen LLC                                                                | Nuveen LLC                                                                                | CUSIP: 67080LAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3347000 | PA      | $3485314.54   | 0.17%             | 2034-04-15      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                      | Ally Financial, Inc., Series B                                                            | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2934000 | PA      | $2841983.86   | 0.14%             | 2026-05-15      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| MAPS Ltd.                                                                 | MAPS Ltd., Series 2018-1A, Class A                                                        | CUSIP: 56564RAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |     81583 | PA      | $81459.91     | 0.00%             | 2043-05-15      | Fixed         | 4.21%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                     | FHLMC STACR REMIC Trust, Series 2021-DNA7, Class B2                                       | CUSIP: 35564KNE5<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | CORP              | US        |   3115000 | PA      | $3348010.41   | 0.16%             | 2041-11-25      | Floating      | 12.11%                | Yes           |                  2 | On Loan: No      |
| HAT Holdings I LLC                                                        | HAT Holdings I LLC                                                                        | CUSIP: 418751AD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1723000 | PA      | $1582267.94   | 0.08%             | 2030-09-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31383CT96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       778 | PA      | $803.66       | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31385JQA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |        81 | PA      | $83.54        | 0.00%             | 2032-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                      | UMBS, 30 Year                                                                             | CUSIP: 31387VU80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2188 | PA      | $2267.79      | 0.00%             | 2031-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Great Wolf Trust                                                          | Great Wolf Trust, Series 2024-WOLF, Class A                                               | CUSIP: 39152MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1370000 | PA      | $1373865.18   | 0.07%             | 2039-03-15      | Floating      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                    | Banc of America Alternative Loan Trust, Series 2006-7, Class A6                           | CUSIP: 059469AF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    371440 | PA      | $105270.95    | 0.01%             | 2036-10-25      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                      | GNMA I, 30 Year                                                                           | CUSIP: 3622A2VP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    129280 | PA      | $134355.72    | 0.01%             | 2040-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ACHV ABS Trust                                                            | ACHV ABS Trust, Series 2024-3AL, Class B                                                  | CUSIP: 00092KAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1452784 | PA      | $1462240.75   | 0.07%             | 2031-12-26      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Morgan Stanley ETF Trust

**Signature:** Francis J. Smith

**Name of Signer:** Francis J. Smith

**Title:** Principal Financial Officer