# EDGAR Filing Document

**Accession Number:** 0000889512
**File Stem:** 0000940400-26-014616
**Filing Date:** 2026-4
**Character Count:** 67675
**Document Hash:** cdcf822736a98d84acd80948f863ce1d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-014616.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0000940400-26-014616

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260227

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEGG MASON PARTNERS INSTITUTIONAL TRUST
- **CENTRAL INDEX KEY:** 0000889512

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06740
- **FILM NUMBER:** 26890871

**BUSINESS ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 1-877-721-1926

**MAIL ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CITIFUNDS INSTITUTIONAL TRUST
- **DATE OF NAME CHANGE:** 19981030

## Series and Classes Contracts Data

### Western Asset SMASh Series M Fund (Series ID: S000014681)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000040179 | SMASh Series M Fund | LMSMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Legg Mason Partners Institutional Trust

- **b. Investment Company Act file number:** 811-06740

- **c. CIK number of Registrant:** 0000889512

- **d. LEI of Registrant:** 54930003LJE4ZPPMRV82

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 1-877-656-3863

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

- **a. Name of Series:** Western Asset SMASh Series M Fund

- **b. EDGAR series identifier (if any):** S000014681

- **c. LEI of Series:** 549300IQMLUT4BTBM734

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2026-02-27

**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:** $569999100.15

**Total Liabilities:** $173407317.64

**Net Assets:** $396591782.51

**Stand-by Commitments:** $173265306.57

**Cash Not Reported:** $11952736.95

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 842.15000000 | **1-Year:** 34402.00000000 | **5-Year:** 198555.10000000 | **10-Year:** 31590.73000000 | **30-Year:** 276.71000000

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

- **3-Month:** 0.02000000 | **1-Year:** 762.92000000 | **5-Year:** 1754.08000000 | **10-Year:** 3.09000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000040179 | 0.22%                | 0.64%                | 1.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $596958.17               | $-1935865.57                               |
| Month 2  | $771693.52               | $290090.43                                 |
| Month 3  | $-556233.91              | $7386549.31                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| INTERCONTINENTAL EXCHANGE, INC.                                    | CDS CDX.NA.IG.45.V1                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $2791128.35   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| KREF 2021-Fl2 Ltd.                                                 | KREF 2021-FL2 A                                        | CUSIP: 48275RAA5<br>LEI: 54930083ELM2GCMVTQ91 | Long             | ABS-CBDO         | CORP              | KY        |   1079743 | PA      | $1080782.30   | 0.27%             | 2039-02-17      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                 | RAMC 2007-3 AV2                                        | CUSIP: 75971FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    122780 | PA      | $100069.95    | 0.03%             | 2037-09-25      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Structured Asset Mortgage Investments II Trust 2007-Ar1            | SAMI 2005-AR7 4A1                                      | CUSIP: 86359LQM4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     68767 | PA      | $65964.49     | 0.02%             | 2046-03-25      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GNR 2021-5 IO                                          | CUSIP: 38380RSG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  38903796 | PA      | $3145768.71   | 0.79%             | 2061-01-16      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNA 2020-M4 1X3                                        | CUSIP: 3136B8TZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  27696088 | PA      | $421672.94    | 0.11%             | 2028-02-25      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GN AB9207                                              | CUSIP: 36178WGQ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6858737 | PA      | $6354815.88   | 1.60%             | 2042-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SMB PRIVATE EDU LN TR 2024-A                                       | SMB 2024-A A1A                                         | CUSIP: 831943AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9062182 | PA      | $9388070.30   | 2.37%             | 2056-03-15      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| Residential Asset Mortgage Products, Inc.                          | RFSC 2002-RP2 A1                                       | CUSIP: 760985PC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       988 | PA      | $970.12       | 0.00%             | 2032-10-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2-30YR-Multi                                          | CUSIP: 21H050631<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2300000 | PA      | $2308342.47   | 0.58%             | 2056-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 AP1612                                              | CUSIP: 36188MYH6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    214036 | PA      | $207229.63    | 0.05%             | 2045-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rali Series 2006-Qo7 Trust                                         | RALI 2006-QO7 3A2                                      | CUSIP: 751150AH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210331 | PA      | $213255.04    | 0.05%             | 2046-09-25      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 AP1617                                              | CUSIP: 36188MYN3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    364600 | PA      | $353848.06    | 0.09%             | 2045-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GNR 2020-117 IO                                        | CUSIP: 38380PX66<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  13624966 | PA      | $830902.17    | 0.21%             | 2062-05-16      | Variable      | 0.79%                 | No            |                  2 | On Loan: No      |
| Smb Private Education Loan Trust 2021-C                            | SMB 2021-C D                                           | CUSIP: 83208AAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2081212 | PA      | $1912657.32   | 0.48%             | 2053-01-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 784905                                              | CUSIP: 3622AAKS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    310315 | PA      | $282318.56    | 0.07%             | 2050-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PRKCM 2021-AFC1 TRUST                                              | PRKCM 2021-AFC1 A1                                     | CUSIP: 69357TAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12299036 | PA      | $10800660.09  | 2.72%             | 2056-08-25      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FHMS K740 X1                                           | CUSIP: 3137F72D6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  34259913 | PA      | $308027.45    | 0.08%             | 2027-09-25      | Variable      | 0.72%                 | No            |                  2 | On Loan: No      |
| PARK BLUE CLO 2025-VIII LTD                                        | PKBLU 2025-8A A1                                       | CUSIP: 70019WAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6100000 | PA      | $6114500.31   | 1.54%             | 2038-10-25      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| GALAXY 36 CLO LTD                                                  | GALXY 2025-36A A1                                      | CUSIP: 362937AA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6200000 | PA      | $6208057.52   | 1.57%             | 2038-10-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2-30YR-Multi                                          | CUSIP: 21H042638<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  26200000 | PA      | $25899109.51  | 6.53%             | 2056-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GS MTG SEC CORP 2021-ROSS TR                                       | GSMS 2021-ROSS C                                       | CUSIP: 36264YAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2894000 | PA      | $2619717.39   | 0.66%             | 2026-05-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FHMS K064 X1                                           | CUSIP: 3137BXR20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  44952852 | PA      | $208954.34    | 0.05%             | 2027-03-25      | Variable      | 0.58%                 | No            |                  2 | On Loan: No      |
| Cwabs Asset Backed Certificates Series 2002-4                      | CWL 2004-5 2A                                          | CUSIP: 1266716C5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1329330 | PA      | $1306493.68   | 0.33%             | 2034-10-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| GOODGREEN TRUST 2021-1                                             | GOODG 2021-1A A                                        | CUSIP: 38217UAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5918632 | PA      | $5137488.86   | 1.30%             | 2056-10-15      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2021-DNA2                            | STACR 2021-DNA2 M2                                     | CUSIP: 35564KDB2<br>LEI: 5493000ISZLYXFDXNW47 | Long             | ABS-O            | USGSE             | US        |   4452075 | PA      | $4527598.32   | 1.14%             | 2033-08-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Csmc 2019-Uvil                                                     | CSMC 2019-UVIL A                                       | CUSIP: 12656DAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $9586112.00   | 2.42%             | 2041-12-17      | Variable      | 3.16%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRUCTURED PASS THROUGH CERTIFICATES                   | FHMS K093 X1                                           | CUSIP: 3137FMCT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   5459310 | PA      | $138299.60    | 0.03%             | 2029-05-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| ALTERNATIVE LOAN TRUST 2005-56                                     | CWALT 2005-24 1A1                                      | CUSIP: 12667GNS8<br>LEI: 549300NHEJTDVQUV3M53 | Long             | ABS-O            | CORP              | US        |    136972 | PA      | $127229.30    | 0.03%             | 2035-07-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FHMS K-1517 X1                                         | CUSIP: 3137FWHG8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  40183260 | PA      | $3623091.50   | 0.91%             | 2035-07-25      | Variable      | 1.32%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN BF0191                                              | CUSIP: 3140FXF98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1164034 | PA      | $1135821.40   | 0.29%             | 2057-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHEVY CHASE FUNDING LLC MORTGAGE-BACKED CERTIFICATES SERIES 2003-4 | CCMFC 2003-4A A1                                       | CUSIP: 16678RAJ6<br>LEI: 549300YJP2VT3ZPGT715 | Long             | ABS-O            | CORP              | US        |    330434 | PA      | $327883.31    | 0.08%             | 2034-10-25      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FHMS K121 X1                                           | CUSIP: 3137F83S0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  52906134 | PA      | $2020601.64   | 0.51%             | 2030-10-25      | Variable      | 1.01%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                       | T 4 06/30/32                                           | CUSIP: 91282CNJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  49540000 | PA      | $50481453.70  | 12.73%            | 2032-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MF1 2021-FL7 LTD                                                   | MF1 2021-FL7 A                                         | CUSIP: 55284AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    608658 | PA      | $609058.73    | 0.15%             | 2036-10-21      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Csmc 2017-Rpl3 Tr                                                  | CSMC 2017-RPL3 A1                                      | CUSIP: 12651YAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8915724 | PA      | $8629645.58   | 2.18%             | 2057-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN BL4787                                              | CUSIP: 3140HWJ94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4316408 | PA      | $4046883.29   | 1.02%             | 2031-11-01      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| Bayswater Park CLO Ltd. / Bayswater Park CLO LLC                   | BAYPK 2023-1A AR                                       | CUSIP: 072929AQ5<br>LEI: 254900BXH0PMWI87VS84 | Long             | ABS-CBDO         | CORP              | JE        |   5230000 | PA      | $5227385.52   | 1.32%             | 2039-01-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 784985                                              | CUSIP: 3622AANA8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  20326008 | PA      | $19503761.33  | 4.92%             | 2048-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors, Inc.                             | MLMI 2006-A1 1A1                                       | CUSIP: 59020U5U5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    224651 | PA      | $119689.65    | 0.03%             | 2036-03-25      | Variable      | 4.33%                 | No            |                  2 | On Loan: No      |
| MAD COMMERCIAL MORTGAGE TRUST 2025-11MD                            | MAD 2025-11MD A                                        | CUSIP: 55616AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7300000 | PA      | $7416598.52   | 1.87%             | 2042-10-17      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES TRUST 2015-GS1                              | GSMS 2018-GS9 B                                        | CUSIP: 36255NAY1<br>LEI: 549300WZ62L3Y22NOZ64 | Long             | ABS-O            | CORP              | US        |   1725000 | PA      | $1621703.55   | 0.41%             | 2051-03-10      | Variable      | 4.32%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2-30YR-Multi                                          | CUSIP: 21H020634<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  15000000 | PA      | $12712374.45  | 3.21%             | 2056-03-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Jpmbb Commercial Mortgage Securities Trust 2015-C30                | JPMBB 2015-C30 AS                                      | CUSIP: 46644UBE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9765656 | PA      | $9611542.52   | 2.42%             | 2048-07-17      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| New Resi Mtg Ln Tr 2016-4                                          | NRZT 2016-4A A1                                        | CUSIP: 64829LAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2115238 | PA      | $2071080.22   | 0.52%             | 2056-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 AV7468                                              | CUSIP: 36195JJM0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12858 | PA      | $12083.39     | 0.00%             | 2046-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN FS0410                                              | CUSIP: 3140XFN49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    123970 | PA      | $116733.83    | 0.03%             | 2047-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN AI1863                                              | CUSIP: 3138AFB90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6138 | PA      | $6324.15      | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Csmc 2017-Rpl3 Tr                                                  | CSMC 2017-RPL3 B2                                      | CUSIP: 12651YAQ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8761531 | PA      | $8627970.64   | 2.18%             | 2057-08-01      | Variable      | 4.36%                 | No            |                  2 | On Loan: No      |
| EMPOWER CLO 2022-1 LTD                                             | EMPWR 2023-2A AR                                       | CUSIP: 29247BAN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3320000 | PA      | $3330045.32   | 0.84%             | 2038-10-15      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GN 784571                                              | CUSIP: 3622A3CG3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2713606 | PA      | $2610466.63   | 0.66%             | 2048-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN AO4150                                              | CUSIP: 3138LUTG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     51255 | PA      | $51820.69     | 0.01%             | 2042-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNMA-30YR                                              | CUSIP: 01F022634<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6800000 | PA      | $5892910.74   | 1.49%             | 2056-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 786335                                              | CUSIP: 3622AB4U3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    927797 | PA      | $921548.69    | 0.23%             | 2052-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNMA-30YR                                              | CUSIP: 01F042632<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5500000 | PA      | $5439965.14   | 1.37%             | 2056-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Stacr Remic Trust                                      | STACR 2026-DNA1 M2                                     | CUSIP: 35564UCS4<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   6610000 | PA      | $6646682.86   | 1.68%             | 2046-02-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN BF0560                                              | CUSIP: 3140FXTS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1349973 | PA      | $1142526.66   | 0.29%             | 2061-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 783368                                              | CUSIP: 36241LW51<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     46008 | PA      | $46695.62     | 0.01%             | 2041-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                          | TPMT 2020-2 M1B                                        | CUSIP: 89176UAV6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8740000 | PA      | $7199410.69   | 1.82%             | 2060-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| APEX CREDIT CLO 2021-2 LTD                                         | APEXC 2021-2A A1AR                                     | CUSIP: 03755QAA1<br>LEI: 254900H6CNZLCIDMYC58 | Long             | ABS-CBDO         | CORP              | KY        |    920000 | PA      | $921343.38    | 0.23%             | 2034-10-20      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNA 2019-M28 XA3                                       | CUSIP: 3136B7GP0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   9175056 | PA      | $139087.43    | 0.04%             | 2030-02-25      | Variable      | 0.61%                 | No            |                  2 | On Loan: No      |
| GREYSTONE CRE NOTES 2021-FL3 LTD                                   | GSTNE 2021-FL3 A                                       | CUSIP: 39809PAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    306403 | PA      | $307006.55    | 0.08%             | 2039-07-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GN AB9109                                              | CUSIP: 36178WDN6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   8008792 | PA      | $7509558.12   | 1.89%             | 2042-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CSMC TRUST 2017-RPL1                                               | CSMC 2017-RPL1 A1                                      | CUSIP: 22945AAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1956098 | PA      | $1924154.56   | 0.49%             | 2057-07-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                        | 5-Year T-Note Futures, Jun-2026,ETH                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       429 | NC      | $192143.66    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sreit Trust 2021-Palm                                              | SREIT 2021-PALM A                                      | CUSIP: 85237AAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2930000 | PA      | $2929082.91   | 0.74%             | 2034-10-16      | Variable      | 4.36%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 BM7534                                              | CUSIP: 3617JYLP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    173544 | PA      | $163089.38    | 0.04%             | 2050-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNR 2013-29 QI                                         | CUSIP: 3136ADKM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    355120 | PA      | $59157.70     | 0.01%             | 2043-04-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNA 2020-M36 X1                                        | CUSIP: 3136BBBW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2272680 | PA      | $126483.74    | 0.03%             | 2034-09-25      | Variable      | 1.30%                 | No            |                  2 | On Loan: No      |
| Mastr Adjustable Rate Mortgages Trust 2002-3                       | MARM 2005-7 3A1                                        | CUSIP: 576433D52<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55488 | PA      | $33260.34     | 0.01%             | 2035-09-25      | Variable      | 3.43%                 | No            |                  2 | On Loan: No      |
| Benchmark 2020-B21 Mortgage Trust                                  | BMARK 2020-B21 B                                       | CUSIP: 08163LAS8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8020000 | PA      | $6867218.83   | 1.73%             | 2053-12-17      | Variable      | 2.46%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GNR 2014-176 IA                                        | CUSIP: 38379GZ83<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    306084 | PA      | $53579.55     | 0.01%             | 2044-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 784825                                              | CUSIP: 3622AAHA5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    122983 | PA      | $115572.59    | 0.03%             | 2049-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GN BS8439                                              | CUSIP: 3617MKLU1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    356259 | PA      | $335841.25    | 0.08%             | 2050-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNMA-30YR                                              | CUSIP: 01F040636<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6000000 | PA      | $5832286.26   | 1.47%             | 2056-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                        | U.S. Treasury Bond Futures, Jun-2026,ETH               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -5 | NC      | $-4228.80     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                           | GNR 2017-28 IO                                         | CUSIP: 38379U6W1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    567001 | PA      | $19951.19     | 0.01%             | 2057-02-16      | Variable      | 0.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN BF0301                                              | CUSIP: 3140FXKP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1486780 | PA      | $1473377.61   | 0.37%             | 2058-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 BS1742                                              | CUSIP: 3617MB5B1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    130856 | PA      | $127179.94    | 0.03%             | 2050-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNMA-30YR                                              | CUSIP: 01F020638<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  15000000 | PA      | $12430538.55  | 3.13%             | 2056-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 BM9743                                              | CUSIP: 3617K1ZG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1173761 | PA      | $1140774.35   | 0.29%             | 2049-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 BS1757                                              | CUSIP: 3617MB5S4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     84459 | PA      | $82086.38     | 0.02%             | 2050-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Residential Asset Mortgage Products, Inc.                          | RAAC 2006-SP1 M1                                       | CUSIP: 76112B3F5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    158895 | PA      | $158027.78    | 0.04%             | 2045-09-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2-30YR-Multi                                          | CUSIP: 21H022630<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1000000 | PA      | $882620.15    | 0.22%             | 2056-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                                | CAS 2021-R01 1M2                                       | CUSIP: 20754RAB2<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   5382132 | PA      | $5405191.31   | 1.36%             | 2041-10-25      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Antares Clo 2018-1 Ltd/ Llc                                        | ANTR 2018-1A A1R                                       | CUSIP: 03665MAJ0<br>LEI: 254900BLLG7F7B4DGG41 | Long             | ABS-CBDO         | CORP              | KY        |   5190000 | PA      | $5194957.49   | 1.31%             | 2038-04-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                             | Ultra U.S. Treasury Bond Futures, Jun-2026,ETH         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -400 | NC      | $-756940.00   | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                           | G2 786366                                              | CUSIP: 3622AB6B3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    765667 | PA      | $760046.32    | 0.19%             | 2052-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WARWICK CAPITAL CLO 7 LTD                                          | WWICK 2025-7A A1                                       | CUSIP: 93656JAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4960000 | PA      | $4972206.06   | 1.25%             | 2038-10-21      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2020-Pj2                       | GSMBS 2018-RPL1 A1A                                    | CUSIP: 36256BAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6301865 | PA      | $6229469.34   | 1.57%             | 2057-10-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Bayview Financial Trust 2007 A                                     | BFAT 2007-SR1A M2                                      | CUSIP: 07325QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    237895 | PA      | $238802.74    | 0.06%             | 2037-03-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Homebanc Mortgage Trust 2006 1                                     | HMBT 2004-2 A1                                         | CUSIP: 43739EAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    724856 | PA      | $702664.82    | 0.18%             | 2034-12-26      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNA 2019-M28 XA2                                       | CUSIP: 3136B7GF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   5102828 | PA      | $29046.32     | 0.01%             | 2030-02-25      | Variable      | 0.22%                 | No            |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                                 | RAMC 2007-3 AV3                                        | CUSIP: 75971FAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    537557 | PA      | $438105.50    | 0.11%             | 2037-09-25      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN AI1892                                              | CUSIP: 3138AFC65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17340 | PA      | $17866.16     | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 BS8420                                              | CUSIP: 3617MKK99<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    449521 | PA      | $434743.59    | 0.11%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTRYWIDE HOME LOANS INC                                         | CWALT 2005-57CB 4A3                                    | CUSIP: 12668AYS8<br>LEI: 5493008WNOU8I3M5WW38 | Long             | ABS-O            | CORP              | US        |    188632 | PA      | $97779.06     | 0.02%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                             | Ultra 10-Year U.S. Treasury Note Futures, Jun-2026,ETH | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -19 | NC      | $-22645.13    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                       | T 4 01/31/29                                           | CUSIP: 91282CJW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  21890000 | PA      | $22258966.24  | 5.61%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FHMS K122 X1                                           | CUSIP: 3137F82T9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  18088849 | PA      | $617301.89    | 0.16%             | 2030-11-25      | Variable      | 0.87%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNA 2019-M22 A2                                        | CUSIP: 3136B6XJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  10310070 | PA      | $9941231.23   | 2.51%             | 2029-08-27      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2-30YR-Multi                                          | CUSIP: 21H032639<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  10800000 | PA      | $10138366.73  | 2.56%             | 2056-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN AI2433                                              | CUSIP: 3138AFV31<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8400 | PA      | $8654.67      | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORIGEN MANUFACTURED HOUSING CONTRACT TRUST 2007-A                  | ORGN 2007-A A2                                         | CUSIP: 68620CAB6<br>LEI: 5493001P8LORMOBBQA95 | Long             | ABS-O            | CORP              | US        |     73975 | PA      | $68929.19     | 0.02%             | 2037-04-15      | Variable      | 5.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GNR 2014-134 IA                                        | CUSIP: 38378XSQ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  36652974 | PA      | $89918.91     | 0.02%             | 2055-01-16      | Variable      | 0.12%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates               | WAMU 2004-AR13 A1B2                                    | CUSIP: 92922FB64<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2527387 | PA      | $2494517.76   | 0.63%             | 2034-11-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| BX 2021-PAC MORTGAGE TRUST                                         | BX 2021-PAC A                                          | CUSIP: 05609PAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11580000 | PA      | $11562531.57  | 2.92%             | 2036-10-15      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                | NRZT 2019-2A A1                                        | CUSIP: 64830DAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8150921 | PA      | $8140482.10   | 2.05%             | 2057-12-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                        | 10-Year T-Note Futures, Jun-2026,ETH                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       113 | NC      | $85237.81     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                              | FNA 2018-M15 1A2                                       | CUSIP: 3136B3YD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   3000000 | PA      | $2903465.40   | 0.73%             | 2036-01-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN 888832                                              | CUSIP: 31410GPR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45668 | PA      | $48727.90     | 0.01%             | 2037-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNR 2013-73 IB                                         | CUSIP: 3136AFRB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     80541 | PA      | $1159.77      | 0.00%             | 2028-07-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GN AB9108                                              | CUSIP: 36178WDM8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2537918 | PA      | $2381218.71   | 0.60%             | 2042-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GNR 2014-157 IO                                        | CUSIP: 38378XUN9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   6529395 | PA      | $37240.41     | 0.01%             | 2055-05-16      | Variable      | 0.18%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 786835                                              | CUSIP: 3622ACPU8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    710407 | PA      | $727043.58    | 0.18%             | 2053-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| THRUST ENGINE LEASING 2021 DAC                                     | THRST 2021-1A A                                        | CUSIP: 88603UAA7<br>LEI: 254900X0E0PUM0VQBP74 | Long             | ABS-O            | CORP              | IE        |   6382826 | PA      | $6324394.82   | 1.59%             | 2040-07-15      | Fixed         | 4.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2-30YR-Multi                                          | CUSIP: 21H052637<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  18000000 | PA      | $18232518.06  | 4.60%             | 2056-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CSMC 2020-West                                                     | CSMC 2021-RPL4 A1                                      | CUSIP: 12662GAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4822384 | PA      | $4810735.52   | 1.21%             | 2060-12-27      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| Gmacm Mortgage Loan Trust                                          | GMACM 2006-AR1 1A1                                     | CUSIP: 36185MDN9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    290007 | PA      | $240703.32    | 0.06%             | 2036-04-19      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                        | 2-Year T-Note Futures, Jun-2026,ETH                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $334.21       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| APIDOS LOAN FUND 2024-1 LTD                                        | APID 2024-1A A1R                                       | CUSIP: 037986AN6<br>LEI: 549300092LX0NPUDVC76 | Long             | ABS-CBDO         | CORP              | JE        |   9600000 | PA      | $9619217.28   | 2.43%             | 2038-10-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNMA-30YR                                              | CUSIP: 01F032633<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4400000 | PA      | $4147065.25   | 1.05%             | 2056-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp.                                  | SASC 2003-9A 2A2                                       | CUSIP: 86359ARF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37438 | PA      | $36778.21     | 0.01%             | 2033-03-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 BM9734                                              | CUSIP: 3617K1Y72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    383350 | PA      | $372576.47    | 0.09%             | 2049-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUNRUN VULCAN ISSUER LLC                                           | SUNRN 2021-1A A                                        | CUSIP: 86773QAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2667695 | PA      | $2518047.59   | 0.63%             | 2052-01-30      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                              | FNA 2019-M19 X2                                        | CUSIP: 3136B56Y6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  31050485 | PA      | $501527.43    | 0.13%             | 2029-09-25      | Variable      | 0.61%                 | No            |                  2 | On Loan: No      |
| 2023-MIC TRUST/THE                                                 | THE 2023-MIC A                                         | CUSIP: 87256GAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3470000 | PA      | $3757824.01   | 0.95%             | 2038-12-05      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FHMS K-1516 X1                                         | CUSIP: 3137FUZK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  29329468 | PA      | $3107366.20   | 0.78%             | 2035-05-25      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 BS1728                                              | CUSIP: 3617MB4M8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    110849 | PA      | $105683.28    | 0.03%             | 2050-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN AU7431                                              | CUSIP: 3138X7HH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8507 | PA      | $8568.83      | 0.00%             | 2043-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GNR 2015-36 MI                                         | CUSIP: 38379JA50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    352813 | PA      | $51168.54     | 0.01%             | 2045-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp.                                  | SASC 2001-SB1 A2                                       | CUSIP: 86358RDU8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2423 | PA      | $2416.80      | 0.00%             | 2031-08-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Blackbird Cap Air Ls 2016-1                                        | BBIRD 2016-1A A                                        | CUSIP: 09228YAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    821554 | PA      | $823741.59    | 0.21%             | 2041-12-16      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                              | FNA 2020-M54 X                                         | CUSIP: 3136BDDH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  28130675 | PA      | $1773751.59   | 0.45%             | 2033-12-25      | Variable      | 1.43%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust 2014-4                                  | NAVSL 2021-1A A1B                                      | CUSIP: 63942NAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1468197 | PA      | $1450499.03   | 0.37%             | 2069-12-26      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GN AA5649                                              | CUSIP: 36178DH20<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1311857 | PA      | $1232477.90   | 0.31%             | 2042-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 786340                                              | CUSIP: 3622AB4Z2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    371334 | PA      | $375634.86    | 0.09%             | 2052-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2-30YR-Multi                                          | CUSIP: 21H030633<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  29200000 | PA      | $26787823.62  | 6.75%             | 2056-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ABRY LIQUID CREDIT CLO 2025-1 LTD                                  | ALC 2025-1A A2                                         | CUSIP: 00383LAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1720000 | PA      | $1719645.85   | 0.43%             | 2038-10-20      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| SMB PRIVATE ED LN TR 2023-B                                        | SMB 2023-B A1B                                         | CUSIP: 78449HAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1908727 | PA      | $1949248.18   | 0.49%             | 2056-10-16      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN AL0476                                              | CUSIP: 3138EGQ64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15012 | PA      | $15466.95     | 0.00%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2-30YR-Multi                                          | CUSIP: 21H040632<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  17000000 | PA      | $16357162.68  | 4.12%             | 2056-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GN BS1754                                              | CUSIP: 3617MB5P0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     50260 | PA      | $48754.55     | 0.01%             | 2050-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNA 2020-M4 1X2                                        | CUSIP: 3136B8TR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   5100016 | PA      | $57525.63     | 0.01%             | 2028-02-25      | Variable      | 0.74%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GNR 2013-105 IO                                        | CUSIP: 38378KYB9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  12820549 | PA      | $7917.97      | 0.00%             | 2054-06-16      | Variable      | 0.09%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                    | FHMR 2020-RR07 AX                                      | CUSIP: 3137FRVC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   6000000 | PA      | $300466.20    | 0.08%             | 2028-09-27      | Variable      | 2.47%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNMA-30YR                                              | CUSIP: 01F030637<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  31900000 | PA      | $28853568.82  | 7.28%             | 2056-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                              | FNA 2020-M51 X3                                        | CUSIP: 3136BDHY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  74520000 | PA      | $261244.76    | 0.07%             | 2030-12-25      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 786823                                              | CUSIP: 3622ACPG9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    155382 | PA      | $158990.11    | 0.04%             | 2053-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNA 2020-M26 X3                                        | CUSIP: 3136BARE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   7790959 | PA      | $55004.95     | 0.01%             | 2028-01-25      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | G2 783298                                              | CUSIP: 36241LUX2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    509597 | PA      | $517274.23    | 0.13%             | 2041-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                           | GN AB2892                                              | CUSIP: 36178NF95<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5227859 | PA      | $4913716.33   | 1.24%             | 2042-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-23

**Name of Applicant:** Legg Mason Partners Institutional Trust

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer