# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0001752724-23-070489
**Filing Date:** 2023-3
**Character Count:** 187560
**Document Hash:** eb84d52b7b7028f568126e7811494b5f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-070489.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-070489

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Two Roads Shared Trust
- **CENTRAL INDEX KEY:** 0001552947
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22718
- **FILM NUMBER:** 23771773

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 402-895-1600

**MAIL ADDRESS:**
- **STREET 1:** 17605 WRIGHT STREET
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68130

## Series and Classes Contracts Data

### Anfield Universal Fixed Income Fund (Series ID: S000040050)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000124329 | Anfield Universal Fixed Income Fund Class A | AFLEX           |
| C000124331 | Anfield Universal Fixed Income Fund Class C | AFLKX           |
| C000124332 | Anfield Universal Fixed Income Fund Class I | AFLIX           |

## Nport-Ex

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Shares** |  |  |  |  | **Fair Value** |
|  | **OPEN END FUNDS — 4.6%** | **OPEN END FUNDS — 4.6%** |  |  |  |
|  | **FIXED INCOME - 4.6%** | **FIXED INCOME - 4.6%** |  |  |  |
| 248378 | Fidelity Advisor Floating Rate High Income Fund |  |  |  | &nbsp;&nbsp;&nbsp; $2270178 |
| 365779 | Vanguard High-Yield Corporate Fund, Admiral Class |  |  |  | &nbsp;&nbsp;&nbsp; 1938627 |
| 97192 | Vanguard Short-Term Investment Grade Fund, Admiral Class |  |  |  | &nbsp;&nbsp;&nbsp; 980669 |
|  |  |  |  |  | &nbsp;&nbsp; 5189474 |
|  | **TOTAL OPEN END FUNDS (Cost $5,592,322)** | **TOTAL OPEN END FUNDS (Cost $5,592,322)** |  |  | &nbsp;&nbsp; 5189474 |
| **Shares** |  | **Spread** | **Coupon Rate (%)** |  | **Fair Value** |
|  | **PREFERRED STOCKS** — **1.1%** | **PREFERRED STOCKS** — **1.1%** |  |  |  |
|  | **BANKING** — **1.1%** | **BANKING** — **1.1%** |  |  |  |
| 40000 | Citigroup, Inc. Series J | US0003M + 4.400% | 1.7813 |  | &nbsp;&nbsp;&nbsp; 1017600 |
| 7400 | Citigroup, Inc. Series K | US0003M + 4.130% | 1.7188 |  | &nbsp;&nbsp;&nbsp; 188700 |
|  |  |  |  |  | 1206300 |
|  | **TOTAL PREFERRED STOCKS (Cost $1,342,770)** | **TOTAL PREFERRED STOCKS (Cost $1,342,770)** |  |  | 1206300 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 25.0%** | **ASSET BACKED SECURITIES — 25.0%** |  |  |  |
|  | **CLO** — **23.0%** | **CLO** — **23.0%** |  |  |  |
| 1000000 | AMMC CLO XI Ltd. Series 2012-11A CR2<sup>(a),(b)</sup> | US0003M + 1.900% | 6.7020 | &nbsp;&nbsp;&nbsp;04/30/31 | 943201 |
| 2000000 | Cathedral Lake CLO 2013-1A Ltd. BR<sup>(a),(b)</sup> | US0003M + 2.300% | 7.0920 | &nbsp;&nbsp;&nbsp;10/15/29 | 1929012 |
| 500500 | Crown Point CLO IV Ltd. Series 2018-4A B<sup>(a),(b)</sup> | US0003M + 1.500% | 6.3080 | &nbsp;&nbsp;&nbsp;04/20/31 | 495316 |
| 1000000 | Denali Capital CLO XI Ltd. Series 2015-1A DR<sup>(a),(b)</sup> | US0003M + 5.610% | 10.4180 | &nbsp;&nbsp;&nbsp;10/20/28 | 881315 |
| 1000000 | Dryden 55 CLO Ltd. Series 2018-55A D<sup>(a),(b)</sup> | US0003M + 2.850% | 7.6420 | &nbsp;&nbsp;&nbsp;04/15/31 | 935621 |
| 981156 | Halcyon Loan Advisors Funding 2015-1A CR Ltd. CR<sup>(a),(b)</sup> | US0003M + 2.000% | 6.8080 | &nbsp;&nbsp;&nbsp;04/20/27 | 981142 |
| 1556424 | Halcyon Loan Advisors Funding 2015-2A E Ltd.<sup>(a),(b),(c)</sup> | US0003M + 5.700% | 10.5180 | &nbsp;&nbsp;&nbsp;07/25/27 | 606634 |
| 2158446 | Halcyon Loan Advisors Funding 2015-3A D Ltd.<sup>(a),(b)</sup> | US0003M + 5.950% | 10.7450 | &nbsp;&nbsp;&nbsp;10/18/27 | 1257977 |
| 2400000 | Man GLG US CLO Series 2018-1A BR<sup>(a),(b)</sup> | US0003M + 1.970% | 6.7780 | &nbsp;&nbsp;&nbsp;04/22/30 | 2279750 |
| 1500000 | Mountain View CLO IX Ltd. Series 2015-9A CR<sup>(a),(b)</sup> | US0003M + 3.120% | 7.9120 | &nbsp;&nbsp;&nbsp;07/15/31 | 1268127 |
| 2000000 | Sound Point CLO II Ltd. Series 2013-1A A3R<sup>(a),(b)</sup> | US0003M + 1.850% | 6.6720 | &nbsp;&nbsp;&nbsp;01/26/31 | 1857514 |
| 2500000 | Sound Point CLO II Ltd. Series 2013-1A B1R<sup>(a),(b)</sup> | US0003M + 2.700% | 7.5220 | &nbsp;&nbsp;&nbsp;01/26/31 | 2344368 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 25.0% (Continued)** | **ASSET BACKED SECURITIES — 25.0% (Continued)** |  |  |  |
|  | **CLO** — **23.0% (Continued)** | **CLO** — **23.0% (Continued)** |  |  |  |
| 520000 | Steele Creek CLO 2014-1RA Ltd. B<sup>(a),(b)</sup> | US0003M + 1.500% | 6.3150 | &nbsp;&nbsp;&nbsp;04/21/31 | $511106 |
| 2025000 | Steele Creek CLO 2014-1RA Ltd. D<sup>(a),(b)</sup> | US0003M + 2.800% | 7.6150 | &nbsp;&nbsp;&nbsp;04/21/31 | 1774672 |
| 1000000 | Venture XV CLO Ltd. Series 2013-15A DR2<sup>(a),(b)</sup> | US0003M + 3.920% | 8.7120 | &nbsp;&nbsp;&nbsp;07/15/32 | 933249 |
| 2750000 | Voya CLO 2018-1 Ltd. Series 2018-1A C<sup>(a),(b)</sup> | US0003M + 2.600% | 7.3980 | &nbsp;&nbsp;&nbsp;04/19/31 | 2394639 |
| 1350000 | Webster Park CLO Ltd. Series 2015-1A DR<sup>(a),(b)</sup> | US0003M + 5.500% | 10.3080 | &nbsp;&nbsp;&nbsp;07/20/30 | 1157024 |
| 1380000 | Zais CLO 5 Ltd. Series 2016-2A A2<sup>(a),(b)</sup> | US0003M + 2.400% | 7.1920 | &nbsp;&nbsp;&nbsp;10/15/28 | 1383574 |
| 2000000 | Zais Matrix CDO I Series 2022-18A D1<sup>(a),(b)</sup> | TSFR3M + 4.670% | 9.3290 | &nbsp;&nbsp;&nbsp;01/25/35 | 1890774 |
|  |  |  |  |  | 25825015 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.5%** |  |  |  |
| 135980 | Alternative Loan Trust 2004-35T2 A4<sup>(d)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;02/25/35 | 21471 |
| 4285 | Banc of America Mortgage 2004-A Trust 2A4<sup>(b)</sup> |  | 3.2780 | &nbsp;&nbsp;&nbsp;02/25/34 | 4169 |
| 8014420 | BCAP, LLC Trust 2007-AA2 21IO<sup>(b),(d)</sup> |  | 0.4140 | &nbsp;&nbsp;&nbsp;04/25/37 | 91229 |
| 7737 | Bear Stearns ARM Trust 2003-4 3A1<sup>(b)</sup> |  | 3.5680 | &nbsp;&nbsp;&nbsp;07/25/33 | 7324 |
| 7911 | Bear Stearns Asset Backed Securities Trust 2003-AC5 A2<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;10/25/33 | 7725 |
| 3764 | Chase Mortgage Finance Trust Series 2007-A1 7A1<sup>(b)</sup> |  | 3.7880 | &nbsp;&nbsp;&nbsp;02/25/37 | 3699 |
| 23509 | CHL Mortgage Pass-Through Trust 2004-7 3A1<sup>(b)</sup> |  | 3.1580 | &nbsp;&nbsp;&nbsp;05/25/34 | 21962 |
| 8628 | Citigroup Global Markets Mortgage Securities VII, Inc. Series 2003-1 A2<sup>(a)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;09/25/33 | 5782 |
| 3332 | Deutsche Mortgage Securities, Inc. Mortgage Loan Trust 2004-4 7AR2<sup>(b)</sup> | US0001M + 0.450% | 4.9560 | &nbsp;&nbsp;&nbsp;06/25/34 | 3035 |
| 140126 | GSR Mortgage Loan Trust 2004-2F 7A2<sup>(b),(d)</sup> | US0001M + 7.650% | 3.1440 | &nbsp;&nbsp;&nbsp;01/25/34 | 3576 |
| 8306 | GSR Mortgage Loan Trust 2004-6F 2A6 |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/25/34 | 8100 |
| 20418 | Impac CMB Trust Series 2004-4 1M3<sup>(b)</sup> | US0001M + 0.900% | 5.4060 | &nbsp;&nbsp;&nbsp;09/25/34 | 19850 |
| 4566 | Impac CMB Trust Series 2004-5 1A3<sup>(b)</sup> | US0001M + 0.920% | 5.4260 | &nbsp;&nbsp;&nbsp;10/25/34 | 4417 |
| 30284 | Impac CMB Trust Series 2004-6 M1<sup>(b)</sup> | US0001M + 0.825% | 5.3310 | &nbsp;&nbsp;&nbsp;10/25/34 | 28456 |
| 27895 | JP Morgan Mortgage Trust 2005-A1 3A5<sup>(b)</sup> |  | 3.6810 | &nbsp;&nbsp;&nbsp;02/25/35 | 25729 |
| 14078 | MASTR Alternative Loan Trust 2003-7 6A1 |  | 6.5000 | &nbsp;&nbsp;&nbsp;12/25/33 | 14127 |
| 490283 | MASTR Alternative Loan Trust 2007-HF1 4AX<sup>(d)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;10/25/47 | 107218 |
| 9521 | Morgan Stanley Mortgage Loan Trust 2004-10AR 4A<sup>(b)</sup> |  | 4.1320 | &nbsp;&nbsp;&nbsp;11/25/34 | 8670 |
| 6447 | Morgan Stanley Mortgage Loan Trust 2004-7AR 2A6<sup>(b)</sup> |  | 4.1560 | &nbsp;&nbsp;&nbsp;09/25/34 | 6321 |
| 3119 | Structured Asset Securities Corporation 1995-2B 2A<sup>(b)</sup> |  | 3.1020 | &nbsp;&nbsp;&nbsp;09/25/26 | 3080 |
| 5926239 | Vendee Mortgage Trust 2011-2 IO<sup>(b),(d)</sup> |  | 0.3560 | &nbsp;&nbsp;&nbsp;10/15/41 | 67301 |
| 64484 | Wilshire Funding Corporation Series 1997-WFC1 M3<sup>(b)</sup> |  | 7.2500 | &nbsp;&nbsp;&nbsp;08/25/27 | 61578 |
|  |  |  |  |  | 524819 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 25.0% (Continued)** | **ASSET BACKED SECURITIES — 25.0% (Continued)** |  |  |  |
|  | **HOME EQUITY** — **0.8%** | **HOME EQUITY** — **0.8%** |  |  |  |
| 41461 | Aames Mortgage Trust 2001 1 Mortgage Pass Through Certs Series 2001-1 M2<sup>(e)</sup> |  | 8.0880 | &nbsp;&nbsp;&nbsp;06/25/31 | $41592 |
| 20537 | AFC Trust Series 2000-1 1A<sup>(b)</sup> | US0001M + 0.730% | 5.2360 | &nbsp;&nbsp;&nbsp;03/25/30 | 17972 |
| 363 | Ameriquest Mortgage Securities Asset-Backed Pass-Through Ctfs Series 2003-11 AF6<sup>(e)</sup> |  | 5.2910 | &nbsp;&nbsp;&nbsp;12/25/33 | 373 |
| 40242 | Asset Backed Securities Corporation Home Equity Loan Trust Series 2003-HE6 M2<sup>(b)</sup> | US0001M + 2.475% | 6.9810 | &nbsp;&nbsp;&nbsp;11/25/33 | 41912 |
| 135000 | Bear Stearns Asset Backed Securities I Trust 2004-BO1 M9B<sup>(b)</sup> | US0001M + 6.000% | 10.5060 | &nbsp;&nbsp;&nbsp;10/25/34 | 134797 |
| 92498 | Bear Stearns Asset Backed Securities I Trust 2004-FR3 M3<sup>(b)</sup> | US0001M + 2.100% | 5.5200 | &nbsp;&nbsp;&nbsp;09/25/34 | 88924 |
| 54347 | Bear Stearns Asset Backed Securities I Trust 2004-HE7 M4<sup>(b)</sup> | US0001M + 2.700% | 7.2060 | &nbsp;&nbsp;&nbsp;08/25/34 | 49837 |
| 15591 | Bear Stearns Asset Backed Securities Trust 2003-ABF1 A<sup>(b)</sup> | US0001M + 0.740% | 5.2460 | &nbsp;&nbsp;&nbsp;01/25/34 | 14729 |
| 155469 | CDC Mortgage Capital Trust 2004-HE1 M2<sup>(b)</sup> | US0001M + 1.800% | 6.3060 | &nbsp;&nbsp;&nbsp;06/25/34 | 156318 |
| 105719 | CDC Mortgage Capital Trust 2004-HE3 M2<sup>(b)</sup> | US0001M + 1.800% | 6.3060 | &nbsp;&nbsp;&nbsp;11/25/34 | 101558 |
| 35557 | Credit Suisse First Boston Mortgage Securities Corporation Series 2001-HE8 A1<sup>(e)</sup> |  | 6.9900 | &nbsp;&nbsp;&nbsp;02/25/31 | 34161 |
| 7974 | GSAA Trust Series 2005-1 M1<sup>(e)</sup> |  | 5.2950 | &nbsp;&nbsp;&nbsp;11/25/34 | 7922 |
| 3845 | Meritage Mortgage Loan Trust 2003-1 M2<sup>(b)</sup> | US0001M + 2.325% | 6.8310 | &nbsp;&nbsp;&nbsp;11/25/33 | 3697 |
| 28884 | Meritage Mortgage Loan Trust 2003-1 M3<sup>(b)</sup> | US0001M + 2.700% | 7.2060 | &nbsp;&nbsp;&nbsp;11/25/33 | 27769 |
| 17029 | Merrill Lynch Mortgage Investors Trust Series 2003-OPT1 M2<sup>(b)</sup> | US0001M + 2.175% | 6.6810 | &nbsp;&nbsp;&nbsp;07/25/34 | 14377 |
| 35368 | New Century Home Equity Loan Trust Series 2003-A M1<sup>(a),(b)</sup> | US0001M + 1.125% | 3.7500 | &nbsp;&nbsp;&nbsp;10/25/33 | 34672 |
| 1843 | NovaStar Mortgage Funding Trust Series 2004-1 M5<sup>(b)</sup> | US0001M + 1.575% | 6.0810 | &nbsp;&nbsp;&nbsp;06/25/34 | 1768 |
| 12774 | Option One Mortgage Loan Trust 2003-5 A2<sup>(b)</sup> | US0001M + 0.640% | 5.1460 | &nbsp;&nbsp;&nbsp;08/25/33 | 12207 |
| 76674 | RASC Series 2003-KS4 Trust MI1<sup>(e)</sup> |  | 4.6100 | &nbsp;&nbsp;&nbsp;06/25/33 | 75288 |
| 11440 | Saxon Asset Securities Trust 2003-3 M2<sup>(b)</sup> | US0001M + 2.400% | 3.9030 | &nbsp;&nbsp;&nbsp;12/25/33 | 10438 |
| 90712 | Terwin Mortgage Trust Series TMTS 2003-2HE M2<sup>(b)</sup> | US0001M + 3.225% | 7.7310 | &nbsp;&nbsp;&nbsp;07/25/34 | 92739 |
|  |  |  |  |  | 963050 |
|  | **MANUFACTURED HOUSING** — **0.0%<sup>(f)</sup>** | **MANUFACTURED HOUSING** — **0.0%<sup>(f)</sup>** |  |  |  |
| 7628 | Conseco Finance Corporation Series 1997-1 M1<sup>(b)</sup> |  | 7.2200 | &nbsp;&nbsp;&nbsp;03/15/28 | 7630 |
|  | **RESIDENTIAL MORTGAGE** — **0.7%** | **RESIDENTIAL MORTGAGE** — **0.7%** |  |  |  |
| 48977 | Countrywide Asset-Backed Certificates Series 2004-3 3A4<sup>(b)</sup> | US0001M + 0.500% | 5.0060 | &nbsp;&nbsp;&nbsp;08/25/34 | 48638 |
| 87399 | Credit-Based Asset Servicing and Securitization, LLC Series 2004-CB3 B1<sup>(b)</sup> | US0001M + 2.775% | 3.6240 | &nbsp;&nbsp;&nbsp;03/25/34 | 92235 |
| 133167 | Credit-Based Asset Servicing and Securitization, LLC Series 2004-CB6 M2<sup>(b)</sup> | US0001M + 1.725% | 4.7290 | &nbsp;&nbsp;&nbsp;07/25/35 | 124362 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 25.0% (Continued)** | **ASSET BACKED SECURITIES — 25.0% (Continued)** |  |  |  |
|  | **RESIDENTIAL MORTGAGE** — **0.7% (Continued)** | **RESIDENTIAL MORTGAGE** — **0.7% (Continued)** |  |  |  |
| 31524 | CWABS, Inc. Asset-Backed Certificates Trust 2004-6 2A4<sup>(b)</sup> | US0001M + 0.900% | 5.4060 | &nbsp;&nbsp;&nbsp;11/25/34 | $30197 |
| 21837 | CWABS, Inc. Asset-Backed Certificates Trust 2004-6 2A3<sup>(b)</sup> | US0001M + 1.200% | 5.7060 | &nbsp;&nbsp;&nbsp;11/25/34 | 21210 |
| 16669 | Equity One Mortgage Pass-Through Trust 2002-5 M1<sup>(e)</sup> |  | 5.8030 | &nbsp;&nbsp;&nbsp;11/25/32 | 15869 |
| 72414 | Finance America Mortgage Loan Trust 2004-2 M3<sup>(b)</sup> | US0001M + 0.975% | 5.4810 | &nbsp;&nbsp;&nbsp;08/25/34 | 63197 |
| 16427 | First Franklin Mortgage Loan Trust 2002-FF1 1A2<sup>(b)</sup> | US0001M + 1.125% | 5.1190 | &nbsp;&nbsp;&nbsp;04/25/32 | 16161 |
| 20330 | Long Beach Mortgage Loan Trust 2003-2 M2<sup>(b)</sup> | US0001M + 2.850% | 7.3560 | &nbsp;&nbsp;&nbsp;06/25/33 | 21077 |
| 60388 | Morgan Stanley A.B.S Capital I, Inc. Trust 2004-NC7 M4<sup>(b)</sup> | US0001M + 1.725% | 6.2310 | &nbsp;&nbsp;&nbsp;07/25/34 | 58489 |
| 109279 | Structured Asset Securities Corporation 2005-WF1 M7<sup>(b)</sup> | US0001M + 1.905% | 6.4110 | &nbsp;&nbsp;&nbsp;02/25/35 | 106006 |
| 143305 | Structured Asset Securities Corporation 2005-WF1 M8<sup>(b)</sup> | US0001M + 2.055% | 6.5610 | &nbsp;&nbsp;&nbsp;02/25/35 | 135669 |
|  |  |  |  |  | 733110 |
|  | **TOTAL ASSET BACKED SECURITIES (Cost $31,452,765)** | **TOTAL ASSET BACKED SECURITIES (Cost $31,452,765)** |  |  | 28053624 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5%** |  |  |  |
| 372421 | Fannie Mae Interest Strip Series 384 2<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;07/25/37 | 51939 |
| 1190929 | Fannie Mae Interest Strip Series 407 40<sup>(d)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;01/25/38 | 241760 |
| 292119 | Fannie Mae Interest Strip Series 418 141<sup>(b),(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/25/39 | 51281 |
| 345364 | Fannie Mae Interest Strip Series 418 147<sup>(b),(d)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/39 | 63579 |
| 127595 | Fannie Mae Interest Strip Series 409 80<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;11/25/39 | 27916 |
| 555120 | Fannie Mae Interest Strip Series 408 9<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/25/40 | 109202 |
| 359408 | Fannie Mae Interest Strip Series 409 83<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;11/25/40 | 61550 |
| 1431803 | Fannie Mae Interest Strip Series 406 15<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/25/40 | 342886 |
| 234682 | Fannie Mae Interest Strip Series 409 C13<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;11/25/41 | 36624 |
| 163434 | Fannie Mae Interest Strip Series 409 64<sup>(b),(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;11/25/41 | 27710 |
| 197411 | Fannie Mae Interest Strip Series 413 126<sup>(b),(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;07/25/42 | 32853 |
| 436107 | Fannie Mae Interest Strip Series 413 155<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;07/25/42 | 85588 |
| 206173 | Fannie Mae Interest Strip Series 413 177<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;07/25/42 | 38862 |
| 1080672 | Fannie Mae Interest Strip Series 417 C24<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/42 | 143238 |
| 437456 | Fannie Mae Interest Strip Series 419 C3<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;11/25/43 | 64164 |
| 589241 | Fannie Mae Interest Strip Series 426 292<sup>(b),(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;08/25/51 | 97080 |
| 445447 | Fannie Mae REMICS Series 2004-70 XJ<sup>(b),(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/25/34 | 75022 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** |  |  |  |
| 635885 | Fannie Mae REMICS Series 2006-109 SG<sup>(b),(d)</sup> | US0001M + 6.630% | 2.1240 | &nbsp;&nbsp;&nbsp;11/25/36 | $51403 |
| 274862 | Fannie Mae REMICS Series 2007-39 AI<sup>(b),(d)</sup> | US0001M + 6.120% | 1.6140 | &nbsp;&nbsp;&nbsp;05/25/37 | 20868 |
| 193575 | Fannie Mae REMICS Series 2007-92 SK<sup>(b),(d)</sup> | US0001M + 6.450% | 1.9440 | &nbsp;&nbsp;&nbsp;09/25/37 | 19393 |
| 204929 | Fannie Mae REMICS Series 2007-112 SA<sup>(b),(d)</sup> | US0001M + 6.450% | 1.9440 | &nbsp;&nbsp;&nbsp;12/25/37 | 23141 |
| 181140 | Fannie Mae REMICS Series 2009-31 PI<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;11/25/38 | 12797 |
| 544469 | Fannie Mae REMICS Series 2009-101 MI<sup>(d)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;12/25/39 | 71339 |
| 551584 | Fannie Mae REMICS Series 2009-113 XI<sup>(b),(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;01/25/40 | 101114 |
| 733272 | Fannie Mae REMICS Series 2010-150 SP<sup>(b),(d)</sup> | US0001M + 6.600% | 2.0940 | &nbsp;&nbsp;&nbsp;10/25/40 | 71336 |
| 48049 | Fannie Mae REMICS Series 2017-50 BI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;04/25/41 | 70 |
| 192791 | Fannie Mae REMICS Series 2017-47 AI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;10/25/41 | 4131 |
| 2247593 | Fannie Mae REMICS Series 2011-149 MS<sup>(b),(d)</sup> | US0001M + 6.000% | 1.4940 | &nbsp;&nbsp;&nbsp;11/25/41 | 99382 |
| 161191 | Fannie Mae REMICS Series 2012-84 KI<sup>(b),(d)</sup> | US0001M + 6.000% | 6.0000 | &nbsp;&nbsp;&nbsp;08/25/42 | 27008 |
| 191420 | Fannie Mae REMICS Series 2013-10 SJ<sup>(b),(d)</sup> | US0001M + 6.150% | 1.6440 | &nbsp;&nbsp;&nbsp;02/25/43 | 18870 |
| 596808 | Fannie Mae REMICS Series 2014-68 IB<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;02/25/43 | 65173 |
| 193502 | Fannie Mae REMICS Series 2015-16 IN<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;09/25/43 | 10587 |
| 1367407 | Fannie Mae REMICS Series 2013-103 JS<sup>(b),(d)</sup> | US0001M + 6.000% | 1.4940 | &nbsp;&nbsp;&nbsp;10/25/43 | 128422 |
| 175411 | Fannie Mae REMICS Series 2015-22 BS<sup>(b),(d)</sup> | US0001M + 6.150% | 4.5980 | &nbsp;&nbsp;&nbsp;04/25/45 | 20399 |
| 8309966 | Fannie Mae REMICS Series 2015-40 LT<sup>(b),(d)</sup> | US0001M + 6.200% | 0.0300 | &nbsp;&nbsp;&nbsp;06/25/45 | 14484 |
| 2647186 | Fannie Mae REMICS Series 2015-34 HI<sup>(d)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/25/45 | 648466 |
| 44205 | Fannie Mae REMICS Series 2017-48 QI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;11/25/45 | 110 |
| 90734 | Fannie Mae REMICS Series 2017-78 KI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/25/47 | 5772 |
| 128805 | Fannie Mae REMICS Series 2018-37 CI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;10/25/47 | 8130 |
| 1291952 | Fannie Mae REMICS Series 2017-97 SW<sup>(b),(d)</sup> | US0001M + 6.200% | 1.6940 | &nbsp;&nbsp;&nbsp;12/25/47 | 150990 |
| 203603 | Fannie Mae REMICS Series 2018-2 LI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/47 | 21316 |
| 363894 | Fannie Mae REMICS Series 2017-99 DI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/47 | 48378 |
| 366087 | Fannie Mae REMICS Series 2018-31 IO<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;12/25/47 | 61502 |
| 1208897 | Fannie Mae REMICS Series 2018-16 MI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/25/48 | 239300 |
| 300134 | Fannie Mae REMICS Series 2018-35 KI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;05/25/48 | 51129 |
| 253059 | Fannie Mae REMICS Series 2018-34 CI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;05/25/48 | 43349 |
| 1446816 | Fannie Mae REMICS Series 2018-54 SA<sup>(b),(d)</sup> | US0001M + 6.250% | 1.7440 | &nbsp;&nbsp;&nbsp;08/25/48 | 129180 |
| 518298 | Fannie Mae REMICS Series 2018-74 MI<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/25/48 | 101547 |
| 663010 | Fannie Mae REMICS Series 2019-44 IC<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;08/25/49 | 101071 |
| 258499 | Fannie Mae REMICS Series 2021-27 GI<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;05/25/51 | 55872 |
| 1194850 | Fannie Mae REMICS Series 2020-10 S<sup>(b),(d)</sup> | US0001M + 6.050% | 1.5440 | &nbsp;&nbsp;&nbsp;05/25/59 | 110711 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** |  |  |  |
| 23982 | Freddie Mac REMICS Series 2433 SA<sup>(b)</sup> | US0001M + 20.930% | 9.3370 | &nbsp;&nbsp;&nbsp;02/15/32 | $27151 |
| 1237665 | Freddie Mac REMICS Series 5112 IB<sup>(d)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;05/15/32 | 175976 |
| 67758 | Freddie Mac REMICS Series 4325 GI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/15/33 | 1897 |
| 256350 | Freddie Mac REMICS Series 4394 BI<sup>(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;07/15/37 | 39390 |
| 152893 | Freddie Mac REMICS Series 4419 EI<sup>(d)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;10/15/37 | 16682 |
| 4334634 | Freddie Mac REMICS Series 4669 TI<sup>(b),(d)</sup> | US0001M + 6.100% | 0.1000 | &nbsp;&nbsp;&nbsp;09/15/40 | 10684 |
| 82365 | Freddie Mac REMICS Series 3772 SA<sup>(b)</sup> | US0001M + 14.910% | 1.5330 | &nbsp;&nbsp;&nbsp;12/15/40 | 70579 |
| 943181 | Freddie Mac REMICS Series 3935 SH<sup>(b),(d)</sup> | US0001M + 6.600% | 2.1410 | &nbsp;&nbsp;&nbsp;12/15/40 | 31249 |
| 187006 | Freddie Mac REMICS Series 4493 HI<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;06/15/41 | 5082 |
| 213137 | Freddie Mac REMICS Series 4076 SW<sup>(b),(d)</sup> | US0001M + 6.050% | 1.5910 | &nbsp;&nbsp;&nbsp;07/15/42 | 26503 |
| 102250 | Freddie Mac REMICS Series 4139 PO<sup>(g)</sup> |  |  | &nbsp;&nbsp;&nbsp;08/15/42 | 69491 |
| 280533 | Freddie Mac REMICS Series 4091 ES<sup>(b),(d)</sup> | US0001M + 6.550% | 2.0910 | &nbsp;&nbsp;&nbsp;08/15/42 | 38452 |
| 21920 | Freddie Mac REMICS Series 4681 LI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;03/15/43 | 212 |
| 590166 | Freddie Mac REMICS Series 4197 IG<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;04/15/43 | 80174 |
| 108036 | Freddie Mac REMICS Series 4558 DI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;07/15/43 | 1931 |
| 11904936 | Freddie Mac REMICS Series 4765 SI<sup>(b),(d)</sup> |  | 0.2080 | &nbsp;&nbsp;&nbsp;08/15/44 | 112778 |
| 353525 | Freddie Mac REMICS Series 4416 DS<sup>(b),(d)</sup> | US0001M + 6.100% | 1.6410 | &nbsp;&nbsp;&nbsp;12/15/44 | 36750 |
| 315955 | Freddie Mac REMICS Series 4480 IN<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/15/45 | 41629 |
| 350147 | Freddie Mac REMICS Series 4473 AS<sup>(b),(d)</sup> | US0001M + 5.600% | 1.1410 | &nbsp;&nbsp;&nbsp;05/15/45 | 29485 |
| 116301 | Freddie Mac REMICS Series 4591 QI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/15/46 | 17210 |
| 904408 | Freddie Mac REMICS Series 4583 ST<sup>(b),(d)</sup> | US0001M + 6.000% | 1.5410 | &nbsp;&nbsp;&nbsp;05/15/46 | 108701 |
| 801235 | Freddie Mac REMICS Series 4699 NI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;12/15/46 | 110478 |
| 230020 | Freddie Mac REMICS Series 4792 AI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;05/15/48 | 36937 |
| 1248760 | Freddie Mac REMICS Series 4827 BI<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;09/15/48 | 221089 |
| 400366 | Freddie Mac REMICS Series 5093 NI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;08/25/49 | 82533 |
| 921417 | Freddie Mac REMICS Series 5022 IO<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;09/25/50 | 132499 |
| 529088 | Freddie Mac REMICS Series 5023 MI<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;10/25/50 | 94540 |
| 355871 | Freddie Mac REMICS Series 5082 HI<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;03/25/51 | 41921 |
| 537952 | Freddie Mac REMICS Series 5086 IW<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;03/25/51 | 69738 |
| 1102479 | Freddie Mac REMICS Series 5086 HI<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;03/25/51 | 212176 |
| 1526303 | Freddie Mac REMICS Series 5174 NI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/51 | 266980 |
| 360748 | Freddie Mac REMICS Series 4291 MS<sup>(b),(d)</sup> | US0001M + 5.900% | 1.4410 | &nbsp;&nbsp;&nbsp;01/15/54 | 31039 |
| 69561 | Freddie Mac Strips Series 202 IO<sup>(d)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;04/01/29 | 9518 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** |  |  |  |
| 628540 | Freddie Mac Strips Series 256 50<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;06/15/38 | $92332 |
| 218876 | Freddie Mac Strips Series 303 181<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;12/15/39 | 28782 |
| 215763 | Freddie Mac Strips Series 303 175<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;12/15/40 | 31947 |
| 302578 | Freddie Mac Strips Series 303 141<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;01/15/43 | 51170 |
| 621510 | Freddie Mac Strips Series 324 C24<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/15/43 | 115783 |
| 683708 | Freddie Mac Strips Series 365 C10<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;06/15/49 | 123878 |
| 51064 | Government National Mortgage Association Series 2011-157 AI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;12/16/26 | 2068 |
| 686577 | Government National Mortgage Association Series 2021-78 QI<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;05/20/34 | 91477 |
| 3167148 | Government National Mortgage Association Series 2009-87 IW<sup>(b),(d)</sup> | US0001M + 6.850% | 2.3640 | &nbsp;&nbsp;&nbsp;07/20/34 | 196936 |
| 8284229 | Government National Mortgage Association Series 2014-94 JI<sup>(b),(d)</sup> | US0001M + 6.700% | 0.1500 | &nbsp;&nbsp;&nbsp;09/16/34 | 47534 |
| 871300 | Government National Mortgage Association Series 2007-26 SD<sup>(b),(d)</sup> | US0001M + 6.800% | 2.3410 | &nbsp;&nbsp;&nbsp;05/16/37 | 134045 |
| 5283386 | Government National Mortgage Association Series 2017-60 SA<sup>(b),(d)</sup> | US0001M + 6.690% | 2.2040 | &nbsp;&nbsp;&nbsp;10/20/37 | 323608 |
| 1617964 | Government National Mortgage Association Series 2008-60 SH<sup>(b),(d)</sup> | US0001M + 6.150% | 1.6910 | &nbsp;&nbsp;&nbsp;07/16/38 | 64164 |
| 946695 | Government National Mortgage Association Series 2017-88 IB<sup>(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;02/20/39 | 157411 |
| 580245 | Government National Mortgage Association Series 2009-61 AS<sup>(b),(d)</sup> | US0001M + 6.100% | 1.7470 | &nbsp;&nbsp;&nbsp;03/20/39 | 8307 |
| 54528 | Government National Mortgage Association Series 2009-117 SC<sup>(b),(d)</sup> | US0001M + 6.500% | 2.0410 | &nbsp;&nbsp;&nbsp;08/16/39 | 132 |
| 843875 | Government National Mortgage Association Series 2009-69 IV<sup>(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;08/20/39 | 119519 |
| 2777128 | Government National Mortgage Association Series 2010-29 SA<sup>(b),(d)</sup> | US0001M + 6.550% | 2.0640 | &nbsp;&nbsp;&nbsp;10/20/39 | 299100 |
| 396841 | Government National Mortgage Association Series 2013-90 AI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/20/39 | 17822 |
| 50628 | Government National Mortgage Association Series 2010-98 YS<sup>(b),(d)</sup> | US0001M + 6.600% | 2.1140 | &nbsp;&nbsp;&nbsp;12/20/39 | 33 |
| 836681 | Government National Mortgage Association Series 2017-60 SU<sup>(b),(d)</sup> | US0001M + 6.400% | 1.9410 | &nbsp;&nbsp;&nbsp;01/16/40 | 70796 |
| 982388 | Government National Mortgage Association Series 2013-20 IM<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;04/20/40 | 163129 |
| 1412298 | Government National Mortgage Association Series 2017-160 TI<sup>(b),(d)</sup> |  | 0.5000 | &nbsp;&nbsp;&nbsp;06/20/40 | 22960 |
| 1265207 | Government National Mortgage Association Series 2010-133 SB<sup>(b),(d)</sup> | US0001M + 6.020% | 1.5610 | &nbsp;&nbsp;&nbsp;10/16/40 | 124576 |
| 245581 | Government National Mortgage Association Series 2019-22 HI<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/16/40 | 24059 |
| 2325852 | Government National Mortgage Association Series 2010-166 SA<sup>(b),(d)</sup> | US0001M + 6.050% | 1.5910 | &nbsp;&nbsp;&nbsp;12/16/40 | 209293 |
| 349162 | Government National Mortgage Association Series 2012-69 QI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/16/41 | 44382 |
| 283593 | Government National Mortgage Association Series 2011-68 EI<sup>(d)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;04/20/41 | 39592 |
| 288028 | Government National Mortgage Association Series 2013-75 GI<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;06/20/41 | 6855 |
| 892240 | Government National Mortgage Association Series 2015-44 AI<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;08/20/41 | 19200 |
| 304374 | Government National Mortgage Association Series 2012-108 PS<sup>(b),(d)</sup> | US0001M + 6.750% | 2.2910 | &nbsp;&nbsp;&nbsp;03/16/42 | 32296 |
| 1197391 | Government National Mortgage Association Series 2013-4 ID<sup>(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/16/42 | 241740 |
| 238494 | Government National Mortgage Association Series 2012-149 GI<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;07/20/42 | 23177 |
| 420828 | Government National Mortgage Association Series 2012-98 HS<sup>(b),(d)</sup> | US0001M + 6.000% | 1.5140 | &nbsp;&nbsp;&nbsp;08/20/42 | 41737 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** |  |  |  |
| 991404 | Government National Mortgage Association Series 2012-126 IO<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/20/42 | $149175 |
| 517984 | Government National Mortgage Association Series 2012-140 IC<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;11/20/42 | 74261 |
| 312047 | Government National Mortgage Association Series 2012-149 CS<sup>(b),(d)</sup> | US0001M + 6.200% | 1.7140 | &nbsp;&nbsp;&nbsp;12/20/42 | 20558 |
| 86857 | Government National Mortgage Association Series 2013-5 BI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;01/20/43 | 15269 |
| 432466 | Government National Mortgage Association Series 2013-20 KI<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;01/20/43 | 53162 |
| 1455855 | Government National Mortgage Association Series 2013-144 AS<sup>(b),(d)</sup> | US0001M + 6.750% | 2.2640 | &nbsp;&nbsp;&nbsp;03/20/43 | 19798 |
| 442745 | Government National Mortgage Association Series 2013-82 IG<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;05/20/43 | 70485 |
| 673339 | Government National Mortgage Association Series 2019-22 EI<sup>(b),(d)</sup> |  | 1.0000 | &nbsp;&nbsp;&nbsp;07/20/43 | 16156 |
| 414348 | Government National Mortgage Association Series 2013-189 PS<sup>(b),(d)</sup> | US0001M + 6.150% | 1.6640 | &nbsp;&nbsp;&nbsp;07/20/43 | 45649 |
| 87568 | Government National Mortgage Association Series 2013-103 DS<sup>(b),(d)</sup> | US0001M + 6.150% | 1.6640 | &nbsp;&nbsp;&nbsp;07/20/43 | 8141 |
| 763108 | Government National Mortgage Association Series 2013-122 SB<sup>(b),(d)</sup> | US0001M + 6.100% | 1.6410 | &nbsp;&nbsp;&nbsp;08/16/43 | 76956 |
| 11211819 | Government National Mortgage Association Series 2019-21 SI<sup>(b),(d)</sup> |  | 0.2630 | &nbsp;&nbsp;&nbsp;10/20/43 | 93214 |
| 295175 | Government National Mortgage Association Series 2014-132 SL<sup>(b),(d)</sup> | US0001M + 6.100% | 1.6140 | &nbsp;&nbsp;&nbsp;10/20/43 | 14139 |
| 179766 | Government National Mortgage Association Series 2013-181 SA<sup>(b),(d)</sup> | US0001M + 6.100% | 1.6140 | &nbsp;&nbsp;&nbsp;11/20/43 | 18609 |
| 3290 | Government National Mortgage Association Series 2014-127 IB<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/20/44 | 5 |
| 395730 | Government National Mortgage Association Series 2014-91 SB<sup>(b),(d)</sup> | US0001M + 5.600% | 1.1410 | &nbsp;&nbsp;&nbsp;06/16/44 | 31991 |
| 121466 | Government National Mortgage Association Series 2014-133 BS<sup>(b),(d)</sup> | US0001M + 5.600% | 1.1140 | &nbsp;&nbsp;&nbsp;09/20/44 | 10320 |
| 605811 | Government National Mortgage Association Series 2019-22 SA<sup>(b),(d)</sup> | US0001M + 5.600% | 1.1140 | &nbsp;&nbsp;&nbsp;02/20/45 | 67465 |
| 210906 | Government National Mortgage Association Series 2017-99 DI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;07/20/45 | 15724 |
| 694020 | Government National Mortgage Association Series 2017-112 KI<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;08/20/45 | 94803 |
| 858050 | Government National Mortgage Association Series 2016-163 KI<sup>(d)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;08/20/45 | 113324 |
| 477833 | Government National Mortgage Association Series 2017-130 LI<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/16/45 | 47660 |
| 2556345 | Government National Mortgage Association Series 2019-22 CI<sup>(b),(d)</sup> | US0001M + 31.250% | 1.0000 | &nbsp;&nbsp;&nbsp;10/20/45 | 151807 |
| 335818 | Government National Mortgage Association Series 2015-179 GS<sup>(b),(d)</sup> | US0001M + 6.750% | 2.2640 | &nbsp;&nbsp;&nbsp;12/20/45 | 42232 |
| 34711 | Government National Mortgage Association Series 2019-10 JI<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;03/20/46 | 67 |
| 121630 | Government National Mortgage Association Series 2016-54 PI<sup>(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;04/20/46 | 13374 |
| 346706 | Government National Mortgage Association Series 2016-46 IO<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/20/46 | 50634 |
| 108048 | Government National Mortgage Association Series 2017-101 ID<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;04/20/46 | 9947 |
| 213320 | Government National Mortgage Association Series 2016-81 IO<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;06/20/46 | 39895 |
| 1054527 | Government National Mortgage Association Series 2016-121 JS<sup>(b),(d)</sup> | US0001M + 6.100% | 1.6140 | &nbsp;&nbsp;&nbsp;09/20/46 | 114459 |
| 366422 | Government National Mortgage Association Series 2016-116 IJ<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;09/20/46 | 42490 |
| 201250 | Government National Mortgage Association Series 2019-11 MI<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;11/20/46 | 12356 |
| 197562 | Government National Mortgage Association Series 2017-114 CI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;03/20/47 | 17530 |
| 14427 | Government National Mortgage Association Series 2017-141 ID<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;07/20/47 | 1624 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 10.5% (Continued)** |  |  |  |
| 396952 | Government National Mortgage Association Series 2018-18 BI<sup>(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;11/20/47 | $42584 |
| 932652 | Government National Mortgage Association Series 2017-179 KS<sup>(b),(d)</sup> | US0001M + 6.200% | 1.8470 | &nbsp;&nbsp;&nbsp;12/20/47 | 106198 |
| 156286 | Government National Mortgage Association Series 2017-179 WI<sup>(d)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/20/47 | 28421 |
| 349734 | Government National Mortgage Association Series 2018-1 IP<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;01/20/48 | 39737 |
| 22019260 | Government National Mortgage Association Series 2020-86 TK<sup>(b),(d)</sup> | US0001M + 6.200% | 0.1500 | &nbsp;&nbsp;&nbsp;08/20/48 | 116902 |
| 214603 | Government National Mortgage Association Series 2018-120 JI<sup>(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;09/20/48 | 31793 |
| 307418 | Government National Mortgage Association Series 2018-154 IT<sup>(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;10/20/48 | 57174 |
| 528945 | Government National Mortgage Association Series 2019-6 SA<sup>(b),(d)</sup> | US0001M + 6.050% | 1.5640 | &nbsp;&nbsp;&nbsp;01/20/49 | 50551 |
| 324133 | Government National Mortgage Association Series 2019-18 CS<sup>(b),(d)</sup> | US0001M + 6.050% | 1.6970 | &nbsp;&nbsp;&nbsp;02/20/49 | 17571 |
| 1148772 | Government National Mortgage Association Series 2020-47 MI<sup>(d)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/20/50 | 181746 |
| 476441 | Government National Mortgage Association Series 2020-127 IN<sup>(d)</sup> |  | 2.5000 | &nbsp;&nbsp;&nbsp;08/20/50 | 68957 |
| 767212 | Government National Mortgage Association Series 2020-167 NS<sup>(b),(d)</sup> | US0001M + 6.300% | 1.8140 | &nbsp;&nbsp;&nbsp;11/20/50 | 91831 |
| 3018392 | Government National Mortgage Association Series 2019-H16 CI<sup>(b),(d)</sup> |  | 0.0001 | &nbsp;&nbsp;&nbsp;10/20/69 | 157657 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $24,643,220)** | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $24,643,220)** |  |  | 11853689 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 43.3%** | **CORPORATE BONDS — 43.3%** |  |  |  |
|  | **AEROSPACE & DEFENSE** — **0.4%** | **AEROSPACE & DEFENSE** — **0.4%** |  |  |  |
| 500000 | Howmet Aerospace, Inc. |  | 5.1250 | &nbsp;&nbsp;&nbsp;10/01/24 | 498083 |
|  | **ASSET MANAGEMENT** — **3.2%** | **ASSET MANAGEMENT** — **3.2%** |  |  |  |
| 730000 | Ares Capital Corporation |  | 4.2500 | &nbsp;&nbsp;&nbsp;03/01/25 | 704004 |
| 1301000 | FS KKR Capital Corporation |  | 4.1250 | &nbsp;&nbsp;&nbsp;02/01/25 | 1251995 |
| 1662000 | Icahn Enterprises, L.P. / Icahn Enterprises |  | 4.7500 | &nbsp;&nbsp;&nbsp;09/15/24 | 1624605 |
|  |  |  |  |  | 3580604 |
|  | **AUTOMOTIVE** — **5.9%** | **AUTOMOTIVE** — **5.9%** |  |  |  |
| 150000 | Ford Motor Credit Company, LLC |  | 3.3700 | &nbsp;&nbsp;&nbsp;11/17/23 | 147413 |
| 890000 | Ford Motor Credit Company, LLC |  | 3.8100 | &nbsp;&nbsp;&nbsp;01/09/24 | 873548 |
| 1655000 | Ford Motor Credit Company, LLC |  | 5.5840 | &nbsp;&nbsp;&nbsp;03/18/24 | 1645093 |
| 400000 | Ford Motor Credit Company, LLC |  | 4.6870 | &nbsp;&nbsp;&nbsp;06/09/25 | 388973 |
| 1400000 | Ford Motor Credit Company, LLC |  | 5.1250 | &nbsp;&nbsp;&nbsp;06/16/25 | 1377838 |
| 1435000 | Ford Motor Credit Company, LLC |  | 3.3750 | &nbsp;&nbsp;&nbsp;11/13/25 | 1347293 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 43.3% (Continued)** | **CORPORATE BONDS — 43.3% (Continued)** |  |  |  |
|  | **AUTOMOTIVE** — **5.9% (Continued)** | **AUTOMOTIVE** — **5.9% (Continued)** |  |  |  |
| 373000 | Harley-Davidson Financial Services, Inc.<sup>(a)</sup> |  | 3.3500 | &nbsp;&nbsp;&nbsp;02/15/23 | $372779 |
| 500000 | Volkswagen Group of America Finance, LLC<sup>(a)</sup> |  | 4.2500 | &nbsp;&nbsp;&nbsp;11/13/23 | 495941 |
|  |  |  |  |  | 6648878 |
|  | **BANKING** — **9.1%** | **BANKING** — **9.1%** |  |  |  |
| 100000 | BNP Paribas S.A.<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;&nbsp;09/28/25 | 97989 |
| 1234000 | BPCE S.A.<sup>(a)</sup> |  | 5.1500 | &nbsp;&nbsp;&nbsp;07/21/24 | 1220874 |
| 2308000 | Citigroup, Inc.<sup>(b)</sup> | US0003M + 4.068% | 5.9500 | &nbsp;&nbsp;&nbsp;07/30/2167 | 2332234 |
| 955000 | Credit Agricole S.A.<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;&nbsp;03/17/25 | 935016 |
| 3704000 | First Citizens BancShares, Inc.<sup>(a),(b)</sup> | US0003M + 3.972% | 8.7410 | &nbsp;&nbsp;&nbsp;06/15/2170 | 3737666 |
| 500000 | JPMorgan Chase & Company<sup>(b)</sup> | US0003M + 0.730% | 3.5590 | &nbsp;&nbsp;&nbsp;04/23/24 | 498152 |
| 1200000 | Societe Generale S.A.<sup>(a)</sup> |  | 4.2500 | &nbsp;&nbsp;&nbsp;04/14/25 | 1162635 |
| 250000 | Wells Fargo & Company Class MTN<sup>(b)</sup> | SOFRRATE + 1.600% | 1.6540 | &nbsp;&nbsp;&nbsp;06/02/24 | 247060 |
|  |  |  |  |  | 10231626 |
|  | **BIOTECH & PHARMA** — **2.3%** | **BIOTECH & PHARMA** — **2.3%** |  |  |  |
| 1714000 | Teva Pharmaceutical Finance Netherlands III BV |  | 2.8000 | &nbsp;&nbsp;&nbsp;07/21/23 | 1691418 |
| 900000 | Teva Pharmaceutical Finance Netherlands III BV |  | 6.0000 | &nbsp;&nbsp;&nbsp;04/15/24 | 897786 |
|  |  |  |  |  | 2589204 |
|  | **COMMERCIAL SUPPORT SERVICES** — **1.0%** | **COMMERCIAL SUPPORT SERVICES** — **1.0%** |  |  |  |
| 1090000 | Aramark Services, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;&nbsp;05/01/25 | 1091608 |
|  | **CONTAINERS & PACKAGING** — **0.4%** | **CONTAINERS & PACKAGING** — **0.4%** |  |  |  |
| 465000 | Ball Corporation |  | 4.0000 | &nbsp;&nbsp;&nbsp;11/15/23 | 459022 |
|  | **DIVERSIFIED INDUSTRIALS** — **1.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | General Electric Company Series D<sup>(b)</sup> | US0003M + 3.330% | 8.0999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6/15/2169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001000 |
|  | **ELECTRIC UTILITIES** — **1.5%** | **ELECTRIC UTILITIES** — **1.5%** |  |  |  |
| 1400000 | Electricite de France S.A.<sup>(a),(b)</sup> | USSW10 + 3.041% | 5.6250 | &nbsp;&nbsp;&nbsp;07/22/2170 | 1364678 |
| 387000 | Pennsylvania Electric Company<sup>(a)</sup> |  | 4.1500 | &nbsp;&nbsp;&nbsp;04/15/25 | 372781 |
|  |  |  |  |  | 1737459 |
|  | **FORESTRY, PAPER & WOOD PRODUCTS** — **0.7%** | **FORESTRY, PAPER & WOOD PRODUCTS** — **0.7%** |  |  |  |
| 775000 | Carter Holt Harvey Ltd.<sup>(c)</sup> |  | 9.5000 | &nbsp;&nbsp;&nbsp;12/01/24 | 768971 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 43.3% (Continued)** | **CORPORATE BONDS — 43.3% (Continued)** |  |  |  |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **2.1%** | **INSTITUTIONAL FINANCIAL SERVICES** — **2.1%** |  |  |  |
| 2025000 | Bank of New York Mellon Corporation (The) Series H<sup>(b)</sup> | H15T5Y + 3.352% | 3.7000 | &nbsp;&nbsp;&nbsp;03/20/2170 | &nbsp;&nbsp;&nbsp;&nbsp;$1879820 |
| 500000 | Morgan Stanley MTN<sup>(b)</sup> | SOFRRATE + 0.455% | 0.5290 | &nbsp;&nbsp;&nbsp;01/25/24 | 499678 |
|  |  |  |  |  | 2379498 |
|  | **LEISURE FACILITIES & SERVICES** — **0.4%** | **LEISURE FACILITIES & SERVICES** — **0.4%** |  |  |  |
| 395000 | Carnival Corporation |  | 7.2000 | &nbsp;&nbsp;&nbsp;10/01/23 | 397525 |
|  | **OIL & GAS PRODUCERS** — **1.6%** | **OIL & GAS PRODUCERS** — **1.6%** |  |  |  |
| 250000 | DCP Midstream Operating, L.P. |  | 3.8750 | &nbsp;&nbsp;&nbsp;03/15/23 | 249286 |
| 300000 | DCP Midstream Operating, L.P.<sup>(a),(b)</sup> | US0003M + 3.850% | 5.8500 | &nbsp;&nbsp;&nbsp;05/21/43 | 296583 |
| 500000 | Energy Transfer Operating, L.P. |  | 4.2000 | &nbsp;&nbsp;&nbsp;09/15/23 | 496257 |
| 750000 | Plains All American Pipeline, LP / PAA Finance |  | 3.8500 | &nbsp;&nbsp;&nbsp;10/15/23 | 742585 |
|  |  |  |  |  | 1784711 |
|  | **REAL ESTATE INVESTMENT TRUSTS** — **2.9%** | **REAL ESTATE INVESTMENT TRUSTS** — **2.9%** |  |  |  |
| 150000 | American Tower Trust #1<sup>(a)</sup> |  | 3.0700 | &nbsp;&nbsp;&nbsp;03/15/23 | 149366 |
| 500000 | Office Properties Income Trust |  | 4.2500 | &nbsp;&nbsp;&nbsp;05/15/24 | 485254 |
| 2042000 | Service Properties Trust |  | 4.6500 | &nbsp;&nbsp;&nbsp;03/15/24 | 1995034 |
| 657000 | VICI Properties, L.P. / VICI Note Company, Inc.<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;&nbsp;06/15/25 | 636583 |
|  |  |  |  |  | 3266237 |
|  | **RETAIL - DISCRETIONARY** — **1.4%** | **RETAIL - DISCRETIONARY** — **1.4%** |  |  |  |
| 1688000 | Penske Automotive Group, Inc. |  | 3.5000 | &nbsp;&nbsp;&nbsp;09/01/25 | 1600519 |
|  | **SPECIALTY FINANCE** — **3.5%** | **SPECIALTY FINANCE** — **3.5%** |  |  |  |
| 780000 | AerCap Ireland Capital DAC / AerCap Global |  | 4.8750 | &nbsp;&nbsp;&nbsp;01/16/24 | 775712 |
| 500000 | Capital One Financial Corporation<sup>(b)</sup> | SOFRRATE + 0.690% | 1.3430 | &nbsp;&nbsp;&nbsp;12/06/24 | 483023 |
| 1000000 | Credit Acceptance Corporation<sup>(a)</sup> |  | 5.1250 | &nbsp;&nbsp;&nbsp;12/31/24 | 937013 |
| 1000000 | ILFC E-Capital Trust I<sup>(a),(b)</sup> | US0003M + 1.550% | 6.2880 | &nbsp;&nbsp;&nbsp;12/21/65 | 647500 |
| 1055000 | OneMain Finance Corporation |  | 6.1250 | &nbsp;&nbsp;&nbsp;03/15/24 | 1047299 |
|  |  |  |  |  | 3890547 |
|  | **TELECOMMUNICATIONS** — **2.7%** | **TELECOMMUNICATIONS** — **2.7%** |  |  |  |
| 825000 | Sprint Corporation |  | 7.8750 | &nbsp;&nbsp;&nbsp;09/15/23 | 838214 |
| 250000 | Sprint Corporation |  | 7.1250 | &nbsp;&nbsp;&nbsp;06/15/24 | 255631 |
| 1940000 | Telecom Italia SpA<sup>(a)</sup> |  | 5.3030 | &nbsp;&nbsp;&nbsp;05/30/24 | 1891500 |
|  |  |  |  |  | 2985345 |
|  | **TRANSPORTATION & LOGISTICS** — **2.4%** | **TRANSPORTATION & LOGISTICS** — **2.4%** |  |  |  |
| 1488595 | American Airlines 2015-2 Class B Pass Through |  | 4.4000 | &nbsp;&nbsp;&nbsp;09/22/23 | 1466380 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 43.3% (Continued)** | **CORPORATE BONDS — 43.3% (Continued)** |  |  |  |
|  | **TRANSPORTATION & LOGISTICS** — **2.4% (Continued)** | **TRANSPORTATION & LOGISTICS** — **2.4% (Continued)** |  |  |  |
| 1350000 | Delta Air Lines, Inc. |  | 2.9000 | &nbsp;&nbsp;&nbsp;10/28/24 | $1289088 |
|  |  |  |  |  | 2755468 |
|  | **TOTAL CORPORATE BONDS (Cost $50,318,553)** | **TOTAL CORPORATE BONDS (Cost $50,318,553)** |  |  | 48666305 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **TERM LOANS — 8.3%** | **TERM LOANS — 8.3%** |  |  |  |
|  | **COMMERCIAL SUPPORT SERVICES** — **2.3%** | **COMMERCIAL SUPPORT SERVICES** — **2.3%** |  |  |  |
| 2630573 | Aramark Services, Inc.<sup>(b)</sup> | US0001M + 2.500% | 7.0700 | &nbsp;&nbsp;&nbsp;04/01/28 | 2628942 |
|  | **LEISURE FACILITIES & SERVICES** — **1.1%** | **LEISURE FACILITIES & SERVICES** — **1.1%** |  |  |  |
| 989848 | Carnival Corporation<sup>(b)</sup> | US0001M + 3.000% | 7.3840 | &nbsp;&nbsp;&nbsp;06/30/25 | 976505 |
| 248750 | Scientific Games Corporation<sup>(b)</sup> | TSFR1M + 3.000% | 7.5780 | &nbsp;&nbsp;&nbsp;04/07/29 | 248838 |
|  |  |  |  |  | 1225343 |
|  | **RETAIL - DISCRETIONARY** — **0.9%** | **RETAIL - DISCRETIONARY** — **0.9%** |  |  |  |
| 987500 | Great Outdoors Group, LLC<sup>(b)</sup> | US0001M + 3.750% | 8.3200 | &nbsp;&nbsp;&nbsp;03/05/28 | 973675 |
|  | **SEMICONDUCTORS** — **0.4%** | **SEMICONDUCTORS** — **0.4%** |  |  |  |
| 498750 | MKS Instruments, Inc.<sup>(b)</sup> | TSFR1M + 2.250% | 7.3620 | &nbsp;&nbsp;&nbsp;04/11/29 | 498972 |
|  | **TRANSPORTATION & LOGISTICS** — **3.6%** | **TRANSPORTATION & LOGISTICS** — **3.6%** |  |  |  |
| 1000000 | AAdvantage Loyalty IP Ltd.<sup>(b)</sup> | US0001M + 4.750% | 9.5580 | &nbsp;&nbsp;&nbsp;03/10/28 | 1028435 |
| 995000 | Air Canada<sup>(b)</sup> | US0001M + 3.500% | 8.1300 | &nbsp;&nbsp;&nbsp;07/27/28 | 997662 |
| 1967462 | United Airlines, Inc.<sup>(b)</sup> | US0001M + 3.750% | 8.5680 | &nbsp;&nbsp;&nbsp;04/14/28 | 1971131 |
|  |  |  |  |  | 3997228 |
|  | **TOTAL TERM LOANS (Cost $9,336,484)** | **TOTAL TERM LOANS (Cost $9,336,484)** |  |  | 9324160 |
| **Principal Amount ($)** |  |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 3.1%** | **U.S. GOVERNMENT & AGENCIES — 3.1%** |  |  |  |
|  | **U.S. TREASURY BILLS** — **3.1%** | **U.S. TREASURY BILLS** — **3.1%** |  |  |  |
| 3500000 | United States Treasury Bill<sup>(g)</sup> |  |  | &nbsp;&nbsp;&nbsp;03/09/23 | 3484394 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 3.1% (Continued)** |  |  |  |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $3,484,499)** |  |  | $3484394  |
|  | **TOTAL INVESTMENTS - 95.9% (Cost $126,170,613)** |  |  | &nbsp;&nbsp;&nbsp; $107777946 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 4.1%** |  |  | &nbsp;&nbsp; 4605321 |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp; $112383267 |

---

---

| | |
|:---|:---|
| CLO | - Collateralized Loan Obligation |
| LLC | - Limited Liability Company |
| LP | - Limited Partnership |
| LTD | - Limited Company |
| REMIC | - Real Estate Mortgage Investment Conduit |
| S.A. | - Société Anonyme |
| H15T5Y | US Treasury Yield Curve Rate T Note Constant Maturity 5 Year |
| SOFRRATE | United States SOFR Secured Overnight Financing Rate |
| TSFR1M | TSFR1M |
| TSFR3M | TSFR3M |
| US0001M | ICE LIBOR USD 1 Month |
| US0003M | ICE LIBOR USD 3 Month |
| USSW10 | USD SWAP SEMI 30/360 10Y |

---

<sup>(a)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of January 31, 2023 the total market value of 144A securities is $41,275,981 or 36.7% of net assets.

<sup>(b)</sup> Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets.

<sup>(c)</sup> Illiquid security. The total fair value of these securities as of January 31, 2023 was $1,375,605, representing 1.2% of net assets.

<sup>(d)</sup> Interest only securities.

<sup>(e)</sup> Step bond. Coupon rate is fixed rate that changes on a specified date. The rate shown is the current rate at January 31, 2023.

<sup>(f)</sup> Percentage rounds to less than 0.1%.

<sup>(g)</sup> Zero coupon bond.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Two Roads Shared Trust

- **b. Investment Company Act file number:** 811-22718

- **c. CIK number of Registrant:** 0001552947

- **d. LEI of Registrant:** 549300REHU8QC2CK4V30

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

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 402-895-1600

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

- **a. Name of Series:** Anfield Universal Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000040050

- **c. LEI of Series:** 549300B6SKTUZX6YVF49

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $113251259.99

**Total Liabilities:** $867993.01

**Net Assets:** $112383266.98

**Cash Not Reported:** $576076.02

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 84.90196300 | **1-Year:** 1809.52896100 | **5-Year:** 5955.89947700 | **10-Year:** 6371.75686900 | **30-Year:** 6444.78942600

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

- **3-Month:** 271.33334400 | **1-Year:** 3254.01382600 | **5-Year:** 5889.92459500 | **10-Year:** 735.78529600 | **30-Year:** 845.01226100

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000124329 | 1.48%                | 0.23%                | 1.73%                |
| Class ID C000124331 | 1.29%                | 0.21%                | 1.68%                |
| Class ID C000124332 | 1.38%                | 0.27%                | 1.75%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-156323.53              | $1276552.41                                |
| Month 2  | $-281185.30              | $89359.30                                  |
| Month 3  | $-466912.80              | $1955809.83                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Government National Mortgage Association                                                  | GNR 2013-20 IM        | CUSIP: 38378F4B3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    982388 | PA      | $163129.37    | 0.15%             | 2040-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CDC Mortgage Capital Trust                                                                | CDCMC 2004-HE1 M2     | CUSIP: 12506YCM9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155469 | PA      | $156318.76    | 0.14%             | 2034-06-25      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-5 BI         | CUSIP: 38378FPP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     86857 | PA      | $15268.73     | 0.01%             | 2043-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Corp                                                               | GSAA 2005-1 M1        | CUSIP: 36242DSU8<br>LEI: CU46ESEFJB81SUVBJO28 | Long             | ABS-O            | CORP              | US        |      7974 | PA      | $7922.28      | 0.01%             | 2034-11-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-22 EI        | CUSIP: 38381REC9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    673339 | PA      | $16156.42     | 0.01%             | 2043-07-20      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| Ball Corporation                                                                          | BLL 4 11/15/23        | CUSIP: 058498AS5<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    465000 | PA      | $459022.43    | 0.41%             | 2023-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2017-112 KI       | CUSIP: 38380TZU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    694020 | PA      | $94802.81     | 0.08%             | 2045-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2018-54 SA        | CUSIP: 3136B2XW7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1446816 | PA      | $129179.95    | 0.11%             | 2048-08-25      | Floating      | 1.74%                 | No            |                  2 | On Loan: No      |
| Cwalt Incorporation                                                                       | CWALT 2004-35T2 A4    | CUSIP: 12667FQ81<br>LEI: 549300NHEJTDVQUV3M53 | Long             | ABS-O            | CORP              | US        |    135980 | PA      | $21471.36     | 0.02%             | 2035-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4139 PO           | CUSIP: 3137AWYB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    102250 | PA      | $69490.56     | 0.06%             | 2042-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2008-60 SH        | CUSIP: 38375DAJ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1617964 | PA      | $64163.62     | 0.06%             | 2038-07-16      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities Corp                                       | CSFB 2001-HE8 A1      | CUSIP: 22540AB49<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35557 | PA      | $34160.84     | 0.03%             | 2031-02-25      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2015-16 IN        | CUSIP: 3136ANBL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    193502 | PA      | $10586.87     | 0.01%             | 2043-09-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| General Electric Company                                                                  | GE FLOAT PERP         | CUSIP: 369604BQ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2001000.00   | 1.78%             | 2169-06-15      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHS 202 IO            | CUSIP: 31282YCR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     69561 | PA      | $9518.24      | 0.01%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 5086 HI           | CUSIP: 3137FFGG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1102479 | PA      | $212175.66    | 0.19%             | 2051-03-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities I Trust                                              | BSABS 2004-BO1 M9B    | CUSIP: 073879JV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135000 | PA      | $134797.42    | 0.12%             | 2034-10-25      | Floating      | 10.51%                | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2018-154 IT       | CUSIP: 38381AWW2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    307418 | PA      | $57174.24     | 0.05%             | 2048-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                                    | FHR 4699 NI           | CUSIP: 3137F1PV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    801235 | PA      | $110477.87    | 0.10%             | 2046-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 5086 IW           | CUSIP: 3137FFGQ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    537952 | PA      | $69738.15     | 0.06%             | 2051-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2009-117 SC       | CUSIP: 38376PXG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     54528 | PA      | $131.94       | 0.00%             | 2039-08-16      | Floating      | 2.04%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4076 SW           | CUSIP: 3137ASGB4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    213137 | PA      | $26502.63     | 0.02%             | 2042-07-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2017-78 KI        | CUSIP: 3136AX6Z3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     90734 | PA      | $5771.55      | 0.01%             | 2047-10-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 406 15            | CUSIP: 3136FG2V8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1431803 | PA      | $342884.61    | 0.31%             | 2040-12-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4827 BI           | CUSIP: 3137FHM91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1248760 | PA      | $221089.42    | 0.20%             | 2048-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Vanguard Fixed Income Securities Funds                                                    | VANG-H/Y CO-ADM       | CUSIP: 922031760<br>LEI: 549300F3N7VQKU6I4K64 | Long             | EC               | RF                | US        |    365779 | NS      | $1938627.22   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2018-74 MI        | CUSIP: 3136B3JA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    518298 | PA      | $101546.73    | 0.09%             | 2048-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                                              | B 03/09/23            | CUSIP: 912796YK9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3500000 | PA      | $3484393.50   | 3.10%             | 2023-03-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Steele Creek CLO 2014-1 Ltd./LLC                                                          | STCR 2014-1RA D       | CUSIP: 85816WAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2025000 | PA      | $1774671.53   | 1.58%             | 2031-04-21      | Floating      | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Howmet Aerospace Inc                                                                      | ARNC 5 1/8 10/01/24   | CUSIP: 013817AW1<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498082.50    | 0.44%             | 2024-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2020-10 S         | CUSIP: 3136B9AZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1194850 | PA      | $110711.38    | 0.10%             | 2059-05-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2010-166 SA       | CUSIP: 38377RUF0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2325852 | PA      | $209293.46    | 0.19%             | 2040-12-16      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2007-112 SA       | CUSIP: 31396X4C5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    204929 | PA      | $23141.45     | 0.02%             | 2037-12-25      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 384 2             | CUSIP: 3136FER20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    372421 | PA      | $51939.00     | 0.05%             | 2037-07-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Corporation of Michigan                                                 | CACC 5 1/8 12/31/24   | CUSIP: 225310AN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $937013.27    | 0.83%             | 2024-12-31      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2019-44 IC        | CUSIP: 3136B5VE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    663010 | PA      | $101071.15    | 0.09%             | 2049-08-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2021-27 GI        | CUSIP: 3136BHAW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    258499 | PA      | $55872.21     | 0.05%             | 2051-05-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2009-101 MI       | CUSIP: 31398F6Z9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    544469 | PA      | $71339.06     | 0.06%             | 2039-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First Citizens BancShares Inc (Delaware)                                                  | FCNCA 5.8 PERP        | CUSIP: 31959XAA1<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   3704000 | PA      | $3737666.03   | 3.33%             | 2170-06-15      | Floating      | 8.74%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-82 IG        | CUSIP: 38378TDR8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    442745 | PA      | $70485.12     | 0.06%             | 2043-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                                                             | CBASS 2004-CB3 B1     | CUSIP: 17307GES3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     87399 | PA      | $92234.87     | 0.08%             | 2034-03-25      | Floating      | 3.62%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Corporation                                                             | AMGFIN 6 1/8 03/15/24 | CUSIP: 85172FAP4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1047298.50   | 0.93%             | 2024-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4197 IG           | CUSIP: 3137B1TF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    590166 | PA      | $80174.33     | 0.07%             | 2043-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-11 MI        | CUSIP: 38381BSL9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    201250 | PA      | $12356.04     | 0.01%             | 2046-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2017-88 IB        | CUSIP: 38380FRE8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    946695 | PA      | $157410.89    | 0.14%             | 2039-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2015-44 AI        | CUSIP: 38379LFV3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    892240 | PA      | $19200.03     | 0.02%             | 2041-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Venture XV CLO Ltd./LLC                                                                   | VENTR 2013-15A DR2    | CUSIP: 92328XAZ2<br>LEI: 549300UYHZCJPN3LMT03 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $933249.00    | 0.83%             | 2032-07-15      | Floating      | 8.71%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4583 ST           | CUSIP: 3137BPDJ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    904408 | PA      | $108701.23    | 0.10%             | 2046-05-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                                   | VW 4 1/4 11/13/23     | CUSIP: 928668AR3<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495940.96    | 0.44%             | 2023-11-13      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2018-1 IP         | CUSIP: 38380UA45<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    349734 | PA      | $39736.60     | 0.04%             | 2048-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4480 IN           | CUSIP: 3137BKD31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    315955 | PA      | $41629.31     | 0.04%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2006-109 SG       | CUSIP: 31396LQX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    635885 | PA      | $51402.82     | 0.05%             | 2036-11-25      | Floating      | 2.12%                 | No            |                  2 | On Loan: No      |
| American Tower Trust I                                                                    | AMETOW 3.07 03/15/23  | CUSIP: 03027WAJ1<br>LEI: 5493004YGM0MQZJOEJ36 | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $149366.16    | 0.13%             | 2023-03-15      | Fixed         | 3.07%                 | Yes           |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                              | MALT 2003-7 6A1       | CUSIP: 576434HH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14078 | PA      | $14127.33     | 0.01%             | 2033-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GSR Mtg Loan Trust                                                                        | GSR 2004-2F 7A2       | CUSIP: 36229RLM9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    140126 | PA      | $3575.67      | 0.00%             | 2034-01-25      | Floating      | 3.14%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2015-179 GS       | CUSIP: 38379TCB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    335818 | PA      | $42232.40     | 0.04%             | 2045-12-20      | Floating      | 2.26%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-20 KI        | CUSIP: 38378F6S4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    432466 | PA      | $53161.81     | 0.05%             | 2043-01-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 409 80            | CUSIP: 3136FLDH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    127595 | PA      | $27915.85     | 0.02%             | 2039-11-25      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2018-34 CI        | CUSIP: 3136B1G65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    253059 | PA      | $43348.77     | 0.04%             | 2048-05-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CWABS Inc.                                                                                | CWL 2004-6 2A4        | CUSIP: 126673BB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     31524 | PA      | $30196.96     | 0.03%             | 2034-11-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 413 177           | CUSIP: 31395QPJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    206173 | PA      | $38861.77     | 0.03%             | 2042-07-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHS 256 50            | CUSIP: 3128HU3T6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    628540 | PA      | $92331.68     | 0.08%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2010-29 SA        | CUSIP: 38376XSS3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2777128 | PA      | $299100.26    | 0.27%             | 2039-10-20      | Floating      | 2.06%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 3772 SA           | CUSIP: 3137A4JG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     82365 | PA      | $70578.92     | 0.06%             | 2040-12-15      | Floating      | 1.53%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Corp                                                               | GSR 2004-6F 2A6       | CUSIP: 36228F2M7<br>LEI: CU46ESEFJB81SUVBJO28 | Long             | ABS-O            | CORP              | US        |      8306 | PA      | $8100.23      | 0.01%             | 2034-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2017-141 ID       | CUSIP: 38380HKZ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     14427 | PA      | $1624.27      | 0.00%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                      | JPM 3.559 04/23/24    | CUSIP: 46647PAP1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498152.31    | 0.44%             | 2024-04-23      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2016-121 JS       | CUSIP: 38380AZD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1054527 | PA      | $114459.29    | 0.10%             | 2046-09-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHS 303 181           | CUSIP: 31325UBL9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    218876 | PA      | $28782.11     | 0.03%             | 2039-12-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| CWABS Inc.                                                                                | CWL 2004-3 3A4        | CUSIP: 1266714R4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     48977 | PA      | $48638.41     | 0.04%             | 2034-08-25      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                                                      | ACAFP 4 3/8 03/17/25  | CUSIP: 225313AF2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    955000 | PA      | $935015.67    | 0.83%             | 2025-03-17      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2016-81 IO        | CUSIP: 38379YNN4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    213320 | PA      | $39894.86     | 0.04%             | 2046-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Electric Company                                                             | FE 4.15 04/15/25      | CUSIP: 708696BX6<br>LEI: O1PLQWO3TX952VMBJ146 | Long             | DBT              | CORP              | US        |    387000 | PA      | $372781.40    | 0.33%             | 2025-04-15      | Fixed         | 4.15%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2012-140 IC       | CUSIP: 38378GHA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    517984 | PA      | $74261.15     | 0.07%             | 2042-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2020-127 IN       | CUSIP: 38382HY87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    476441 | PA      | $68956.93     | 0.06%             | 2050-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2012-98 HS        | CUSIP: 38375GA76<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    420828 | PA      | $41736.55     | 0.04%             | 2042-08-20      | Floating      | 1.51%                 | No            |                  2 | On Loan: No      |
| VICI Properties 2 L.P.                                                                    | VICI 4 5/8 06/15/25   | CUSIP: 55303XAK1<br>LEI: 549300U6G4UOCMLQK204 | Long             | DBT              | CORP              | US        |    657000 | PA      | $636583.22    | 0.57%             | 2025-06-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CWMBS Inc                                                                                 | CWHL 2004-7 3A1       | CUSIP: 12669FXK4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     23509 | PA      | $21962.25     | 0.02%             | 2034-05-25      | Floating      | 3.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2016-116 IJ       | CUSIP: 38380AJQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    366422 | PA      | $42489.89     | 0.04%             | 2046-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 5082 HI           | CUSIP: 3137FFWZ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    355871 | PA      | $41921.16     | 0.04%             | 2051-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2014-133 BS       | CUSIP: 38379GQY6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    121466 | PA      | $10320.29     | 0.01%             | 2044-09-20      | Floating      | 1.11%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fnd                                                                    | DRSLF 2018-55A D      | CUSIP: 26245MAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $935621.00    | 0.83%             | 2031-04-15      | Floating      | 7.64%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 418 147           | CUSIP: 31395Q2K5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    345364 | PA      | $63579.18     | 0.06%             | 2039-05-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Aercap Ireland Capital DAC                                                                | AER 4 7/8 01/16/24    | CUSIP: 00774MAK1<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    780000 | PA      | $775712.25    | 0.69%             | 2024-01-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2017-48 QI        | CUSIP: 3136AW7H4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     44205 | PA      | $110.32       | 0.00%             | 2045-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United Airlines                                                                           | UAL TL B 1L USD       | CUSIP: 90932RAJ3<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |   1967462 | PA      | $1971131.70   | 1.75%             | 2028-04-14      | Variable      | 8.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-75 GI        | CUSIP: 38378J3Z3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    288028 | PA      | $6854.60      | 0.01%             | 2041-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Green Tree Financial Corporation                                                          | GT 1997-1 M1          | CUSIP: 393505SK9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7628 | PA      | $7629.93      | 0.01%             | 2028-03-15      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Option One Mortgage Acceptance Corp.                                                      | OOMLT 2003-5 A2       | CUSIP: 68400XBS8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12774 | PA      | $12207.23     | 0.01%             | 2033-08-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Residential Asset Securities Corp.                                                        | RASC 2003-KS4 MI1     | CUSIP: 76110WRV0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     76674 | PA      | $75287.95     | 0.07%             | 2033-06-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2011-149 MS       | CUSIP: 3136A3FF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2247593 | PA      | $99381.61     | 0.09%             | 2041-11-25      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2017-60 SA        | CUSIP: 38376UED7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5283386 | PA      | $323608.42    | 0.29%             | 2037-10-20      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                             | F 3.81 01/09/24       | CUSIP: 345397YG2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    890000 | PA      | $873548.35    | 0.78%             | 2024-01-09      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2018-18 BI        | CUSIP: 38380KW43<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    396952 | PA      | $42583.65     | 0.04%             | 2047-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                                                            | LBMLT 2003-2 M2       | CUSIP: 542514DV3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20330 | PA      | $21076.85     | 0.02%             | 2033-06-25      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corporation                                                                  | ARCC 4 1/4 03/01/25   | CUSIP: 04010LAV5<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    730000 | PA      | $704004.15    | 0.63%             | 2025-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4765 SI           | CUSIP: 3137FEQC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  11904936 | PA      | $112777.84    | 0.10%             | 2044-08-15      | Floating      | 0.21%                 | No            |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2017-179 WI       | CUSIP: 38380UMS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    156286 | PA      | $28420.99     | 0.03%             | 2047-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Halcyon Loan Advisors  Funding 2015 - 2 Ltd./ Halcyon Loan Advisors  Funding 2015 - 2 LLC | HLA 2015-2A E         | CUSIP: 40538LAA8<br>LEI: 5493006GMMSBMRMTK635 | Long             | ABS-CBDO         | CORP              | KY        |   1534461 | PA      | $606633.97    | 0.54%             | 2027-07-25      | Floating      | 10.52%                | Yes           |                  2 | On Loan: No      |
| Morgan Stanley ML                                                                         | MSM 2004-10AR 4A      | CUSIP: 61748HFJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9521 | PA      | $8669.66      | 0.01%             | 2034-11-25      | Floating      | 4.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2011-68 EI        | CUSIP: 38377VX50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    283593 | PA      | $39592.15     | 0.04%             | 2041-04-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Voya CLO 2018-1, Ltd. / Voya CLO 2018-1, LLC                                              | VOYA 2018-1A C        | CUSIP: 92917AAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2394639.50   | 2.13%             | 2031-04-19      | Floating      | 7.40%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2017-101 ID       | CUSIP: 38380FR57<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    108048 | PA      | $9946.91      | 0.01%             | 2046-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-18 CS        | CUSIP: 38381B4F8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    324133 | PA      | $17571.28     | 0.02%             | 2049-02-20      | Floating      | 1.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-122 SB       | CUSIP: 38378WAU7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    763108 | PA      | $76956.20     | 0.07%             | 2043-08-16      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp.                                                         | SASC 2005-WF1 M8      | CUSIP: 86359BW64<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    143305 | PA      | $135669.71    | 0.12%             | 2035-02-25      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-189 PS       | CUSIP: 38378PMH8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    414348 | PA      | $45649.01     | 0.04%             | 2043-07-20      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Ecp Clo 2015-7 Ltd/Llc                                                                    | GLGU 2018-1A BR       | CUSIP: 26829CBB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2400000 | PA      | $2279750.40   | 2.03%             | 2030-04-22      | Floating      | 6.78%                 | Yes           |                  2 | On Loan: No      |
| Great American Outdoors (Bass Pro Shops)                                                  | BASSPR TL B1 1L USD   | CUSIP: 07014QAN1<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |    987500 | PA      | $973675.00    | 0.87%             | 2028-03-05      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                                                                  | EDF 5 5/8 PERP        | CUSIP: 268317AM6<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1364678.00   | 1.21%             | 2170-07-22      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Salomon Brothers Mtg Secs VII Inc                                                         | SBM7 2003-1 A2        | CUSIP: 79549AYQ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8628 | PA      | $5781.59      | 0.01%             | 2033-09-25      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Finance America Mt                                                                        | FINA 2004-2 M3        | CUSIP: 317350BF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     72414 | PA      | $63196.81     | 0.06%             | 2034-08-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2009-61 AS        | CUSIP: 38376FHU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    580245 | PA      | $8307.08      | 0.01%             | 2039-03-20      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2016-46 IO        | CUSIP: 38379WBY7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    346706 | PA      | $50633.54     | 0.05%             | 2046-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 418 141           | CUSIP: 31395Q2D1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    292119 | PA      | $51281.02     | 0.05%             | 2039-05-25      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-144 AS       | CUSIP: 38378UB63<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1455855 | PA      | $19797.74     | 0.02%             | 2043-03-20      | Floating      | 2.26%                 | No            |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2017-179 KS       | CUSIP: 38380ULB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    932652 | PA      | $106197.86    | 0.09%             | 2047-12-20      | Floating      | 1.85%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4792 AI           | CUSIP: 3137F5AG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    230020 | PA      | $36936.51     | 0.03%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.                                                             | PAG 3 1/2 09/01/25    | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   1688000 | PA      | $1600519.40   | 1.42%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 5022 IO           | CUSIP: 3137FXDW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    921417 | PA      | $132498.61    | 0.12%             | 2050-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 419 C3            | CUSIP: 31395Q5Q9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    437456 | PA      | $64164.17     | 0.06%             | 2043-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                                    | FHR 4681 LI           | CUSIP: 3137BYGY0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     21920 | PA      | $212.21       | 0.00%             | 2043-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ZAIS CLO 18 LTD                                                                           | ZAIS 2022-18A D1      | CUSIP: 98885NAL7<br>LEI: 549300PRQCSTFU7VEI08 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1890774.00   | 1.68%             | 2035-01-25      | Floating      | 9.33%                 | Yes           |                  2 | On Loan: No      |
| BPCE SA                                                                                   | BPCEGP 5.15 07/21/24  | CUSIP: 05578QAB9<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   1234000 | PA      | $1220873.66   | 1.09%             | 2024-07-21      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Zais Clo 5 Limited                                                                        | ZAIS5 2016-2A A2      | CUSIP: 98875LAC3<br>LEI: 5493001XJXUE8BZ0Q137 | Long             | ABS-CBDO         | CORP              | KY        |   1380000 | PA      | $1383574.20   | 1.23%             | 2028-10-15      | Floating      | 7.19%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2020-167 NS       | CUSIP: 38382LBR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    767212 | PA      | $91830.77     | 0.08%             | 2050-11-20      | Floating      | 1.81%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                            | BNP 4 3/8 09/28/25    | CUSIP: 05581KAA9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $97988.95     | 0.09%             | 2025-09-28      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities I Trust                                              | BSABS 2004-FR3 M3     | CUSIP: 073879KS6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     92498 | PA      | $88924.07     | 0.08%             | 2034-09-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                                                       | FSK 4 1/8 02/01/25    | CUSIP: 302635AE7<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |   1301000 | PA      | $1251995.06   | 1.11%             | 2025-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4473 AS           | CUSIP: 3137BJAS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    350147 | PA      | $29484.70     | 0.03%             | 2045-05-15      | Floating      | 1.14%                 | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                              | MALT 2007-HF1 4AX     | CUSIP: 55291YAP2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    490283 | PA      | $107216.78    | 0.10%             | 2047-10-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                                  | JPMMT 2005-A1 3A5     | CUSIP: 466247NJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     27895 | PA      | $25728.98     | 0.02%             | 2035-02-25      | Floating      | 3.68%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                                                   | AAL 4.4 09/22/23      | CUSIP: 02377BAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1488595 | PA      | $1466381.19   | 1.30%             | 2023-09-22      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4394 BI           | CUSIP: 3137BEUD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    256350 | PA      | $39389.71     | 0.04%             | 2037-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2018-16 MI        | CUSIP: 3136B1BT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1208897 | PA      | $239300.07    | 0.21%             | 2048-03-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2014-94 JI        | CUSIP: 38379CZP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   8284229 | PA      | $47534.08     | 0.04%             | 2034-09-16      | Fixed         | 0.15%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I Inc. Trust 2004-NC1                                          | MSAC 2004-NC7 M4      | CUSIP: 61744CFS0<br>LEI: 549300RLSHIMYD3FZB52 | Long             | ABS-O            | CORP              | US        |     60388 | PA      | $58488.63     | 0.05%             | 2034-07-25      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2017-50 BI        | CUSIP: 3136AXAW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     48049 | PA      | $70.06        | 0.00%             | 2041-04-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AFC Mortgage Loan                                                                         | AFC 2000-1 1A         | CUSIP: 00105HEG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20537 | PA      | $17972.02     | 0.02%             | 2030-03-25      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Aramark Services, Inc.                                                                    | ARMK 6 3/8 05/01/25   | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1091607.75   | 0.97%             | 2025-05-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2018-35 KI        | CUSIP: 3136B1E59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    300134 | PA      | $51128.60     | 0.05%             | 2048-05-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust 2005-1                                                 | NCHET 2003-A M1       | CUSIP: 64352VDS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35368 | PA      | $34672.16     | 0.03%             | 2033-10-25      | Floating      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                                                | BSABS 2003-ABF1 A     | CUSIP: 07384YLE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15591 | PA      | $14729.24     | 0.01%             | 2034-01-25      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 5093 NI           | CUSIP: 3137FYK88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    400366 | PA      | $82533.38     | 0.07%             | 2049-08-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHS 324 C24           | CUSIP: 31325VBU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    621510 | PA      | $115783.35    | 0.10%             | 2043-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 5023 MI           | CUSIP: 3137FWV80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    529088 | PA      | $94539.77     | 0.08%             | 2050-10-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2004-70 XJ        | CUSIP: 31394A4U7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    445447 | PA      | $75022.03     | 0.07%             | 2034-10-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Webster Pk Clo Limited                                                                    | WPARK 2015-1A DR      | CUSIP: 948210AE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1350000 | PA      | $1157024.25   | 1.03%             | 2030-07-20      | Floating      | 10.31%                | Yes           |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2017-114 CI       | CUSIP: 38380TYV2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    197562 | PA      | $17529.97     | 0.02%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                             | F 3 3/8 11/13/25      | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1435000 | PA      | $1347292.80   | 1.20%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2013-10 SJ        | CUSIP: 3136ACEL1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    191420 | PA      | $18870.48     | 0.02%             | 2043-02-25      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2007-39 AI        | CUSIP: 31396VSJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    274862 | PA      | $20868.19     | 0.02%             | 2037-05-25      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Novastar Mortgage Funding Trust                                                           | NHEL 2004-1 M5        | CUSIP: 66987XEE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1843 | PA      | $1767.58      | 0.00%             | 2034-06-25      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                          | TEVA 6 04/15/24       | CUSIP: 88167AAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    900000 | PA      | $897786.00    | 0.80%             | 2024-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 5174 NI           | CUSIP: 3137H4MG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1526303 | PA      | $266980.39    | 0.24%             | 2051-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp.                                                         | SASC 1995-2B 2A       | CUSIP: 863572GE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3119 | PA      | $3080.45      | 0.00%             | 2026-09-25      | Floating      | 3.10%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4419 EI           | CUSIP: 3137BFQ20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    152893 | PA      | $16682.11     | 0.01%             | 2037-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Saxon Asset Securities Trust                                                              | SAST 2003-3 M2        | CUSIP: 805564PF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11440 | PA      | $10438.09     | 0.01%             | 2033-12-25      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| Vanguard Fixed Income Securities Funds                                                    | VANG-ST IN G-ADM      | CUSIP: 922031836<br>LEI: N/A                  | Long             | EC               | RF                | US        |     97192 | NS      | $980668.70    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2014-68 IB        | CUSIP: 3136ALRF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    596808 | PA      | $65173.41     | 0.06%             | 2043-02-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Air Canada                                                                                | ACACN TL B 1L USD     | CUSIP: C0102MAP0<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | LON              | CORP              | US        |    995000 | PA      | $997661.63    | 0.89%             | 2028-07-27      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| Equity One, Inc.                                                                          | EQABS 2002-5 M1       | CUSIP: 294751BP6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16669 | PA      | $15869.29     | 0.01%             | 2032-11-25      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                            | C 6 7/8 PERP          | CUSIP: 172967341<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |      7400 | NS      | $188700.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2017-130 LI       | CUSIP: 38380GDT8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    477833 | PA      | $47660.46     | 0.04%             | 2045-10-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2010-133 SB       | CUSIP: 38377MHU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1265207 | PA      | $124576.17    | 0.11%             | 2040-10-16      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2010-150 SP       | CUSIP: 31397QBA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    733272 | PA      | $71335.95     | 0.06%             | 2040-10-25      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline L.P./PAA Finance Corp.                                       | PAA 3.85 10/15/23     | CUSIP: 72650RBD3<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    750000 | PA      | $742584.72    | 0.66%             | 2023-10-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors, Inc.                                                    | MLMI 2003-OPT1 M2     | CUSIP: 5899295L8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17029 | PA      | $14376.91     | 0.01%             | 2034-07-25      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| Meritage Mortgage Loan Trust                                                              | MMLT 2003-1 M2        | CUSIP: 59001FAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3845 | PA      | $3696.95      | 0.00%             | 2033-11-25      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| CROWN POINT CLO 4 Ltd                                                                     | CRNPT 2018-4A B       | CUSIP: 22845XAE0<br>LEI: 549300735PG2ZC70V672 | Long             | ABS-CBDO         | CORP              | KY        |    500500 | PA      | $495315.82    | 0.44%             | 2031-04-20      | Floating      | 6.31%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                                                    | AER Float 12/21/65    | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $647500.00    | 0.58%             | 2065-12-21      | Floating      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| Vendee Mortgage Trust 2011-2                                                              | VENDE 2011-2 IO       | CUSIP: 92262BAG0<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   5926239 | PA      | $67301.33     | 0.06%             | 2041-10-15      | Floating      | 0.36%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 413 155           | CUSIP: 31395QNL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    436107 | PA      | $85587.59     | 0.08%             | 2042-07-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fidelity Adv Ii                                                                           | FID-FLO RATE HI       | CUSIP: 315916783<br>LEI: EIVUM2R16VT371T5KS40 | Long             | EC               | RF                | US        |    248378 | NS      | $2270178.40   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2015-40 LT        | CUSIP: 3136AN4R5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   8309966 | PA      | $14484.27     | 0.01%             | 2045-06-25      | Floating      | 0.03%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                          | TEVA 2.8 07/21/23     | CUSIP: 88167AAD3<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1714000 | PA      | $1691418.05   | 1.51%             | 2023-07-21      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 426 292           | CUSIP: 31422MYJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    589241 | PA      | $97079.89     | 0.09%             | 2051-08-25      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines Inc                                                                       | DAL 2.9 10/28/24      | CUSIP: 247361ZU5<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1289088.00   | 1.15%             | 2024-10-28      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2014-127 IB       | CUSIP: 38379EJ37<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |      3290 | PA      | $4.57         | 0.00%             | 2044-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-103 DS       | CUSIP: 38378VAL9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     87568 | PA      | $8140.73      | 0.01%             | 2043-07-20      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities Corp                                       | WIFC 1997-WFC1 M3     | CUSIP: 22540ACY2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     64484 | PA      | $61578.40     | 0.05%             | 2027-08-25      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                             | F 5.584 03/18/24      | CUSIP: 345397ZQ9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1655000 | PA      | $1645092.84   | 1.46%             | 2024-03-18      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO II Ltd / LLC                                                              | SNDPT 2013-1A B1R     | CUSIP: 83608GAU0<br>LEI: 549300Q00FJ0WHHYC788 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2344367.50   | 2.09%             | 2031-01-26      | Floating      | 7.52%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2009-113 XI       | CUSIP: 31398GVZ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    551584 | PA      | $101113.56    | 0.09%             | 2040-01-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2009-69 IV        | CUSIP: 38373AD86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    843875 | PA      | $119519.27    | 0.11%             | 2039-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Carter Holt Harvey Ltd.                                                                   | CARTER 9 1/2 12/01/24 | CUSIP: 146230AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | NZ        |    775000 | PA      | $768970.50    | 0.68%             | 2024-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| First Franklin Mortgage Loan Trust 2005-FF4                                               | FFML 2002-FF1 1A2     | CUSIP: 32027NAP6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16427 | PA      | $16160.95     | 0.01%             | 2032-04-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                             | F 5 1/8 06/16/25      | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1377837.52   | 1.23%             | 2025-06-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2017-99 DI        | CUSIP: 3136AY2Y8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    363894 | PA      | $48378.24     | 0.04%             | 2047-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2017-160 TI       | CUSIP: 38380HYT3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1412298 | PA      | $22960.30     | 0.02%             | 2040-06-20      | Floating      | 0.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2012-149 GI       | CUSIP: 38378GX86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    238494 | PA      | $23177.38     | 0.02%             | 2042-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DCP Midstream Operating, LP                                                               | DCP 3 7/8 03/15/23    | CUSIP: 23311VAD9<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249286.25    | 0.22%             | 2023-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2017-99 DI        | CUSIP: 38380F5B8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    210906 | PA      | $15724.43     | 0.01%             | 2045-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                                                      | CCL 7.2 10/01/23      | CUSIP: 143658AF9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    395000 | PA      | $397524.74    | 0.35%             | 2023-10-01      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                            | C 5.95 PERP           | CUSIP: 172967GD7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2308000 | PA      | $2332234.00   | 2.08%             | 2167-07-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                             | F 4.687 06/09/25      | CUSIP: 345397ZJ5<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    400000 | PA      | $388972.96    | 0.35%             | 2025-06-09      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| CDC Mortgage Capital Trust                                                                | CDCMC 2004-HE3 M2     | CUSIP: 12506YDG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    105719 | PA      | $101557.57    | 0.09%             | 2034-11-25      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Company                                                                     | WFC 1.654 06/02/24    | CUSIP: 95000U2R3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247059.94    | 0.22%             | 2024-06-02      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation                           | IEP 4 3/4 09/15/24    | CUSIP: 451102BW6<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |   1662000 | PA      | $1624605.00   | 1.45%             | 2024-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2015-34 HI        | CUSIP: 3136AN3F2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2647186 | PA      | $648464.81    | 0.58%             | 2045-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Denali Capital Clo Xi Ltd/Llc                                                             | DEN11 2015-1A DR      | CUSIP: 24823EAG9<br>LEI: 254900ENG873HFQYVK56 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $881315.00    | 0.78%             | 2028-10-20      | Floating      | 10.42%                | Yes           |                  2 | On Loan: No      |
| Citigroup Inc.                                                                            | C 7 1/8 PERP          | CUSIP: 172967358<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |     40000 | NS      | $1017600.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2018-37 CI        | CUSIP: 3136B16S8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    128805 | PA      | $8130.15      | 0.01%             | 2047-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 408 9             | CUSIP: 3136FG5X1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    555120 | PA      | $109202.26    | 0.10%             | 2040-10-25      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4493 HI           | CUSIP: 3137BKL99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    187006 | PA      | $5082.27      | 0.00%             | 2041-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corporation                                                   | BK 3.7 PERP           | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2025000 | PA      | $1879820.58   | 1.67%             | 2170-03-20      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Cathedral Lake CLO                                                                        | CATLK 2013-1A BR      | CUSIP: 14918JAS9<br>LEI: 549300V711IFCX6W8E15 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1929012.00   | 1.72%             | 2029-10-15      | Floating      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| ANFIELD BBH SWEEP                                                                         | BBH SWEEP VEHICLE     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   3295098 | PA      | $3295097.88   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2011-157 AI       | CUSIP: 38378ATU5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     51064 | PA      | $2067.76      | 0.00%             | 2026-12-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO II Ltd / LLC                                                              | SNDPT 2013-1A A3R     | CUSIP: 83608GAS5<br>LEI: 549300Q00FJ0WHHYC788 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1857514.00   | 1.65%             | 2031-01-26      | Floating      | 6.67%                 | Yes           |                  2 | On Loan: No      |
| Bcap Llc Tr 07-Aa2                                                                        | BCAP 2007-AA2 21IO    | CUSIP: 05530NBF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8014420 | PA      | $91228.95     | 0.08%             | 2037-04-25      | Floating      | 0.41%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                            | MS 0.529 01/25/24     | CUSIP: 6174468W2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499677.65    | 0.44%             | 2024-01-25      | Fixed         | 0.53%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                                           | IMM 2004-4 1M3        | CUSIP: 45254NHX8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20418 | PA      | $19849.85     | 0.02%             | 2034-09-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2012-108 PS       | CUSIP: 38378HPT7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    304374 | PA      | $32295.52     | 0.03%             | 2042-03-16      | Floating      | 2.29%                 | No            |                  2 | On Loan: No      |
| Light & Wonder (Scientific Games)                                                         | SGMS TL 1L USD        | CUSIP: 80875AAT8<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    248750 | PA      | $248838.31    | 0.22%             | 2029-04-07      | Variable      | 7.58%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4669 TI           | CUSIP: 3137BW5Y6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   4334634 | PA      | $10683.57     | 0.01%             | 2040-09-15      | Floating      | 0.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2014-91 SB        | CUSIP: 38379CPE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    395730 | PA      | $31991.11     | 0.03%             | 2044-06-16      | Floating      | 1.14%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 417 C24           | CUSIP: 31395QE71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1080672 | PA      | $143238.47    | 0.13%             | 2042-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Meritage Mortgage Loan Trust                                                              | MMLT 2003-1 M3        | CUSIP: 59001FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28884 | PA      | $27768.80     | 0.02%             | 2033-11-25      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2017-47 AI        | CUSIP: 3136AWWP8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    192791 | PA      | $4130.88      | 0.00%             | 2041-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corporation                                                         | COF 1.343 12/06/24    | CUSIP: 14040HCK9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    500000 | PA      | $483022.72    | 0.43%             | 2024-12-06      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4416 DS           | CUSIP: 3137BFM32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    353525 | PA      | $36749.96     | 0.03%             | 2044-12-15      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| HALCYON LOAN ADVISORS FUNDING LTD                                                         | HLA 2015-1A CR        | CUSIP: 40538HAU3<br>LEI: 549300SL5F4XH94OUB49 | Long             | ABS-CBDO         | CORP              | KY        |    981156 | PA      | $981141.82    | 0.87%             | 2027-04-20      | Floating      | 6.81%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 409 C13           | CUSIP: 3136FLFG6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    234682 | PA      | $36624.16     | 0.03%             | 2041-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 2433 SA           | CUSIP: 3133TVPR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     23982 | PA      | $27151.24     | 0.02%             | 2032-02-15      | Floating      | 9.34%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2018-120 JI       | CUSIP: 38380YVE2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    214603 | PA      | $31792.61     | 0.03%             | 2048-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2017-97 SW        | CUSIP: 3136B0DZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1291952 | PA      | $150990.16    | 0.13%             | 2047-12-25      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2012-69 QI        | CUSIP: 38378EQG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    349162 | PA      | $44382.48     | 0.04%             | 2041-03-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2021-78 QI        | CUSIP: 38382TBW3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    686577 | PA      | $91476.87     | 0.08%             | 2034-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 409 64            | CUSIP: 3136FLCR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    163434 | PA      | $27709.55     | 0.02%             | 2041-11-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2007-92 SK        | CUSIP: 31396XNB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    193575 | PA      | $19393.43     | 0.02%             | 2037-09-25      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2012-126 IO       | CUSIP: 38378H3E4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    991404 | PA      | $149175.20    | 0.13%             | 2042-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Aames Mortgage Trust 1997-D                                                               | AMT 2001-1 M2         | CUSIP: 00253CGQ4<br>LEI: 549300XS7IY9BNXQ6U11 | Long             | ABS-O            | CORP              | US        |     41461 | PA      | $41591.86     | 0.04%             | 2031-06-25      | Fixed         | 8.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-4 ID         | CUSIP: 38378FNU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1197391 | PA      | $241740.49    | 0.22%             | 2042-05-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHS 303 141           | CUSIP: 31325UAC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    302578 | PA      | $51169.84     | 0.05%             | 2043-01-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors, Inc.                                                    | CBASS 2004-CB6 M2     | CUSIP: 59020UJD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    133167 | PA      | $124361.81    | 0.11%             | 2035-07-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Aramark                                                                                   | ARMK TL B 1L USD      | CUSIP: 03852JAS0<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |   2630573 | PA      | $2628941.91   | 2.34%             | 2028-04-01      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                             | F 3.37 11/17/23       | CUSIP: 345397A78<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147412.95    | 0.13%             | 2023-11-17      | Fixed         | 3.37%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2016-54 PI        | CUSIP: 38379WMH2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    121630 | PA      | $13374.03     | 0.01%             | 2046-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4291 MS           | CUSIP: 3137B7AC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    360748 | PA      | $31038.62     | 0.03%             | 2054-01-15      | Floating      | 1.44%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2012-149 CS       | CUSIP: 38378GR91<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    312047 | PA      | $20557.96     | 0.02%             | 2042-12-20      | Floating      | 1.71%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4591 QI           | CUSIP: 3137BQQ91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    116301 | PA      | $17210.30     | 0.02%             | 2046-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Banc America Mortgage Securitites Inc                                                     | BOAMS 2004-A 2A4      | CUSIP: 05948XT43<br>LEI: 549300IE5TDZLY0T0V30 | Long             | ABS-O            | CORP              | US        |      4285 | PA      | $4168.71      | 0.00%             | 2034-02-25      | Floating      | 3.28%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities I Trust                                              | BSABS 2004-HE7 M4     | CUSIP: 073879EX2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     54347 | PA      | $49837.04     | 0.04%             | 2034-08-25      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Mountain View Clo Ix Limited                                                              | MVW 2015-9A CR        | CUSIP: 62432BAU7<br>LEI: 549300URXZ1TS31FK720 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1268127.00   | 1.13%             | 2031-07-15      | Floating      | 7.91%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 409 83            | CUSIP: 3136FLDL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    359408 | PA      | $61549.54     | 0.05%             | 2040-11-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2009-31 PI        | CUSIP: 31397ND85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    181140 | PA      | $12797.07     | 0.01%             | 2038-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Asset Backed Secs Corp Home Equity Loan                                                   | ABSHE 2003-HE6 M2     | CUSIP: 04541GGC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40242 | PA      | $41912.30     | 0.04%             | 2033-11-25      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| Deutsche Mortgage Securities Inc Mortgage Loan Trust                                      | DMSI 2004-4 7AR2      | CUSIP: 251563FE7<br>LEI: 529900RSBMUF46QF5O69 | Long             | ABS-O            | CORP              | US        |      3332 | PA      | $3035.45      | 0.00%             | 2034-06-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2012-84 KI        | CUSIP: 3136A7R95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    161191 | PA      | $27008.47     | 0.02%             | 2042-08-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Ameriquest Mortgage Securities                                                            | AMSI 2003-11 AF6      | CUSIP: 03072SLU7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       363 | PA      | $372.63       | 0.00%             | 2033-12-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 407 40            | CUSIP: 3136FG4X2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1190929 | PA      | $241760.01    | 0.22%             | 2038-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNS 413 126           | CUSIP: 31395QMF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    197411 | PA      | $32852.93     | 0.03%             | 2042-07-25      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-H16 CI       | CUSIP: 38380LG23<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3018392 | PA      | $157656.63    | 0.14%             | 2069-10-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-10 JI        | CUSIP: 38381BLX0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     34711 | PA      | $66.90        | 0.00%             | 2046-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                                                  | SVC 4.65 03/15/24     | CUSIP: 44106MAS1<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   2042000 | PA      | $1995034.00   | 1.78%             | 2024-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Harley-Davidson Financial Services Inc.                                                   | HOG 3.35 02/15/23     | CUSIP: 41283LAS4<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |    373000 | PA      | $372779.24    | 0.33%             | 2023-02-15      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2007-26 SD        | CUSIP: 38375KAK8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    871300 | PA      | $134045.14    | 0.12%             | 2037-05-16      | Floating      | 2.34%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp.                                                         | SASC 2005-WF1 M7      | CUSIP: 86359BW56<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    109279 | PA      | $106006.04    | 0.09%             | 2035-02-25      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2020-47 MI        | CUSIP: 38382EDP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1148772 | PA      | $181746.22    | 0.16%             | 2050-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| T-Mobile US Inc                                                                           | S 7 1/8 06/15/24      | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255630.58    | 0.23%             | 2024-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4558 DI           | CUSIP: 3137BNC44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    108036 | PA      | $1931.15      | 0.00%             | 2043-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 3935 SH           | CUSIP: 3137AGTF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    943181 | PA      | $31249.39     | 0.03%             | 2040-12-15      | Floating      | 2.14%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ML                                                                         | MSM 2004-7AR 2A6      | CUSIP: 61748HCK5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6447 | PA      | $6320.60      | 0.01%             | 2034-09-25      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| Steele Creek CLO 2014-1 Ltd./LLC                                                          | STCR 2014-1RA B       | CUSIP: 85816WAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    520000 | PA      | $511105.92    | 0.45%             | 2031-04-21      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| Terwin Mtg Tst                                                                            | TMTS 2003-2HE M2      | CUSIP: 881561AT1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90712 | PA      | $92738.63     | 0.08%             | 2034-07-25      | Floating      | 7.73%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4091 ES           | CUSIP: 3137ATDJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    280533 | PA      | $38451.72     | 0.03%             | 2042-08-15      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2018-31 IO        | CUSIP: 3136B1YP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    366087 | PA      | $61501.62     | 0.05%             | 2047-12-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-6 SA         | CUSIP: 38381BG65<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    528945 | PA      | $50550.51     | 0.04%             | 2049-01-20      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-181 SA       | CUSIP: 38378YFA2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    179766 | PA      | $18608.86     | 0.02%             | 2043-11-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| MKS Instruments                                                                           | MKSI TL B 1L USD      | CUSIP: 55314NAS3<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |    498750 | PA      | $498971.94    | 0.44%             | 2029-04-11      | Variable      | 7.36%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2015-22 BS        | CUSIP: 3136ANEX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    175411 | PA      | $20399.14     | 0.02%             | 2045-04-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| DCP Midstream, LLC                                                                        | DCP 5.85 05/21/43     | CUSIP: 23311RAH9<br>LEI: VQOHU6HCVU6YY1KUKU03 | Long             | DBT              | CORP              | US        |    300000 | PA      | $296583.00    | 0.26%             | 2043-05-21      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale S.A.                                                                     | SOCGEN 4 1/4 04/14/25 | CUSIP: 83367TBJ7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1200000 | PA      | $1162634.77   | 1.03%             | 2025-04-14      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| American Airlines (AA Advantage Loyalty)                                                  | AAL TL 1L USD         | CUSIP: 02376CBJ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $1028435.00   | 0.92%             | 2028-03-10      | Variable      | 9.56%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 4325 GI           | CUSIP: 3137B9U37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     67758 | PA      | $1896.71      | 0.00%             | 2033-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMMC CLO XI, Limited                                                                      | AMMC 2012-11A CR2     | CUSIP: 00176ABC8<br>LEI: 5493004OOK6VXHQ8DQ60 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $943201.00    | 0.84%             | 2031-04-30      | Floating      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Ginnie Mae                                                                                | GNR 2016-163 KI       | CUSIP: 38380TBD7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    858050 | PA      | $113324.35    | 0.10%             | 2045-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHS 365 C10           | CUSIP: 31325XUV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    683708 | PA      | $123878.38    | 0.11%             | 2049-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                        | ETP 4.2 09/15/23      | CUSIP: 29278NAC7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496257.32    | 0.44%             | 2023-09-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2020-86 TK        | CUSIP: 38382GCS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  22019260 | PA      | $116902.45    | 0.10%             | 2048-08-20      | Floating      | 0.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2013-90 AI        | CUSIP: 38378TXG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    396841 | PA      | $17821.88     | 0.02%             | 2039-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHS 303 175           | CUSIP: 31325UBE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    215763 | PA      | $31947.41     | 0.03%             | 2040-12-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Carnival Corp                                                                             | CCL TL B 1L USD       | CUSIP: P2121YAN8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | LON              | CORP              | US        |    989848 | PA      | $976504.57    | 0.87%             | 2025-06-30      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Telecom Italia S.p.A.                                                                     | TITIM 5.303 05/30/24  | CUSIP: 87927YAA0<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |   1940000 | PA      | $1891500.00   | 1.68%             | 2024-05-30      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Bear Stearns Arm Trust                                                                    | BSARM 2003-4 3A1      | CUSIP: 07384MVR0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7737 | PA      | $7324.48      | 0.01%             | 2033-07-25      | Floating      | 3.57%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2013-103 JS       | CUSIP: 3136AGNX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1367407 | PA      | $128422.06    | 0.11%             | 2043-10-25      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2010-98 YS        | CUSIP: 38377JMP5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     50628 | PA      | $32.63        | 0.00%             | 2039-12-20      | Floating      | 2.11%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-22 SA        | CUSIP: 38381RDX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    605811 | PA      | $67465.15     | 0.06%             | 2045-02-20      | Floating      | 1.11%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                                           | IMM 2004-6 M1         | CUSIP: 45254NJX6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30284 | PA      | $28455.52     | 0.03%             | 2034-10-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2014-132 SL       | CUSIP: 38379EW73<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    295175 | PA      | $14139.18     | 0.01%             | 2043-10-20      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corporation                                                    | FHR 5112 IB           | CUSIP: 3137H0R91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1237665 | PA      | $175976.29    | 0.16%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2017-60 SU        | CUSIP: 38376UFJ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    836681 | PA      | $70795.57     | 0.06%             | 2040-01-16      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                                                | BSABS 2003-AC5 A2     | CUSIP: 07384YMB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7911 | PA      | $7725.24      | 0.01%             | 2033-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-22 CI        | CUSIP: 38381RDY2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2556345 | PA      | $151806.98    | 0.14%             | 2045-10-20      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| Halcyon Loan Advisors Funding 2015-3 Limited                                              | HLA 2015-3A D         | CUSIP: 40538NAA4<br>LEI: 549300Q8TB5ELPAK8181 | Long             | ABS-CBDO         | CORP              | KY        |   2140968 | PA      | $1257977.01   | 1.12%             | 2027-10-18      | Floating      | 10.74%                | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-22 HI        | CUSIP: 38381REQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    245581 | PA      | $24059.29     | 0.02%             | 2040-10-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile US Inc                                                                           | S 7 7/8 09/15/23      | CUSIP: 85207UAF2<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    825000 | PA      | $838214.03    | 0.75%             | 2023-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2009-87 IW        | CUSIP: 38376KXJ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3167148 | PA      | $196935.79    | 0.18%             | 2034-07-20      | Floating      | 2.36%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                     | FNR 2018-2 LI         | CUSIP: 3136B0ZQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    203603 | PA      | $21315.68     | 0.02%             | 2047-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Office Properties Income Trust                                                            | OPI 4 1/4 05/15/24    | CUSIP: 81618TAE0<br>LEI: 529900WFAP4ROYDYS509 | Long             | DBT              | CORP              | US        |    500000 | PA      | $485253.85    | 0.43%             | 2024-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CWABS Inc.                                                                                | CWL 2004-6 2A3        | CUSIP: 126673BA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21837 | PA      | $21209.89     | 0.02%             | 2034-11-25      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                                           | IMM 2004-5 1A3        | CUSIP: 45254NJJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4566 | PA      | $4416.75      | 0.00%             | 2034-10-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Financial Trust                                                            | CHASE 2007-A1 7A1     | CUSIP: 161630AU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3764 | PA      | $3699.23      | 0.00%             | 2037-02-25      | Floating      | 3.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                  | GNR 2019-21 SI        | CUSIP: 38381B7A6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  11211819 | PA      | $93213.94     | 0.08%             | 2043-10-20      | Floating      | 0.26%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

**Name of Applicant:** Two Roads Shared Trust

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer