# EDGAR Filing Document

**Accession Number:** 0001612930
**File Stem:** 0001145549-25-044413
**Filing Date:** 2025-6
**Character Count:** 241166
**Document Hash:** 736055db1224b514522d5b8f4572cfed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-044413.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001145549-25-044413

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Angel Oak Funds Trust
- **CENTRAL INDEX KEY:** 0001612930

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22980
- **FILM NUMBER:** 251086780

**BUSINESS ADDRESS:**
- **STREET 1:** 3344 PEACHTREE ROAD NE, SUITE 1725
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30326
- **BUSINESS PHONE:** 404-953-4900

**MAIL ADDRESS:**
- **STREET 1:** 3344 PEACHTREE ROAD NE, SUITE 1725
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30326

## Series and Classes Contracts Data

### Angel Oak UltraShort Income Fund (Series ID: S000061509)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000199192 | Class A             | AOUAX           |
| C000199193 | Institutional Class | AOUIX           |
| C000199194 | Class A1            | AOUNX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Angel Oak UltraShort Income Fund** | **Angel Oak UltraShort Income Fund** | **Angel Oak UltraShort Income Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** |
| **ASSET-BACKED SECURITIES - 29.9%** | **Par** | **Value** |
| **Automobile - 11.0%** | **Automobile - 11.0%** | **Automobile - 11.0%** |
|  ACM Auto Trust, Series 2023-2A, Class A, 7.97%, 06/20/2030 <sup>(a)</sup> | $25027 | $25066 |
| American Credit Acceptance Receivables Trust | American Credit Acceptance Receivables Trust | American Credit Acceptance Receivables Trust |
| &nbsp;&nbsp; Series 2022-4, Class D, 8.00%, 02/15/2029 <sup>(a)</sup> | 7000000 | 7103394 |
| &nbsp;&nbsp; Series 2023-4, Class C, 6.99%, 09/12/2030 <sup>(a)</sup> | 2000000 | 2026242 |
| Arivo Acceptance Auto Loan Receivables Trust | Arivo Acceptance Auto Loan Receivables Trust | Arivo Acceptance Auto Loan Receivables Trust |
| &nbsp;&nbsp; Series 2021-1A, Class C, 3.77%, 03/15/2027 <sup>(a)</sup> | 150000 | 149363 |
| &nbsp;&nbsp; Series 2022-1A, Class A, 3.93%, 05/15/2028 <sup>(a)</sup> | 148939 | 148514 |
| &nbsp;&nbsp; Series 2022-2A, Class A, 6.90%, 01/16/2029 <sup>(a)</sup> | 189682 | 191301 |
| Avid Automobile Receivables Trust | Avid Automobile Receivables Trust | Avid Automobile Receivables Trust |
| &nbsp;&nbsp; Series 2021-1, Class D, 1.99%, 04/17/2028 <sup>(a)</sup> | 118413 | 118217 |
| &nbsp;&nbsp; Series 2023-1, Class B, 7.12%, 03/15/2027 <sup>(a)</sup> | 869284 | 870376 |
| Avis Budget Car Rental LLC | Avis Budget Car Rental LLC | Avis Budget Car Rental LLC |
| &nbsp;&nbsp; Series 2020-2A, Class C, 4.25%, 02/20/2027 <sup>(a)</sup> | 5330000 | 5286740 |
| &nbsp;&nbsp; Series 2022-5A, Class B, 7.09%, 04/20/2027 <sup>(a)</sup> | 5498000 | 5572778 |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
| &nbsp;&nbsp; Series 2020-N1A, Class E, 5.20%, 07/15/2027 <sup>(a)</sup> | 906131 | 903440 |
| &nbsp;&nbsp; Series 2021-N1, Class C, 1.30%, 01/10/2028 | 597949 | 582639 |
| &nbsp;&nbsp; Series 2021-N2, Class B, 0.75%, 03/10/2028 | 841984 | 815408 |
| &nbsp;&nbsp; Series 2021-N2, Class C, 1.07%, 03/10/2028 | 249913 | 241950 |
| &nbsp;&nbsp; Series 2021-N3, Class C, 1.02%, 06/12/2028 | 569204 | 547989 |
| &nbsp;&nbsp; Series 2024-P4, Class N, 5.86%, 12/10/2032 <sup>(a)</sup> | 363320 | 363334 |
| CPS Auto Trust | CPS Auto Trust | CPS Auto Trust |
| &nbsp;&nbsp; Series 2021-B, Class E, 3.41%, 06/15/2028 <sup>(a)</sup> | 428850 | 425834 |
| &nbsp;&nbsp; Series 2022-D, Class D, 8.73%, 01/16/2029 <sup>(a)</sup> | 2900000 | 3040333 |
| &nbsp;&nbsp; Series 2023-D, Class D, 7.80%, 01/15/2030 <sup>(a)</sup> | 2000000 | 2098509 |
| DT Auto Owner Trust | DT Auto Owner Trust | DT Auto Owner Trust |
| &nbsp;&nbsp; Series 2022-1A, Class E, 5.53%, 03/15/2029 <sup>(a)</sup> | 1170000 | 1165219 |
| &nbsp;&nbsp; Series 2022-2A, Class D, 5.46%, 03/15/2028 <sup>(a)</sup> | 5000000 | 5006697 |
| Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
| &nbsp;&nbsp; Series 2020-3A, Class F, 5.56%, 06/15/2027 <sup>(a)</sup> | 1500000 | 1499806 |
| &nbsp;&nbsp; Series 2022-3A, Class D, 6.76%, 09/15/2028 | 6000000 | 6082369 |
|  FHF Trust, Series 2022-2A, Class A, 6.14%, 12/15/2027 <sup>(a)</sup> | 196389 | 197247 |
| Flagship Credit Auto Trust | Flagship Credit Auto Trust | Flagship Credit Auto Trust |
| &nbsp;&nbsp; Series 2021-3, Class D, 1.65%, 09/15/2027 <sup>(a)</sup> | 193000 | 184049 |
| &nbsp;&nbsp; Series 2021-4, Class D, 2.26%, 12/15/2027 <sup>(a)</sup> | 288000 | 273905 |
| &nbsp;&nbsp; Series 2022-2, Class C, 5.30%, 04/17/2028 <sup>(a)</sup> | 1000000 | 1000125 |
|  GLS Auto Receivables Trust, Series 2022-3A, Class D, 6.42%, 06/15/2028 <sup>(a)</sup> | 2600000 | 2641163 |
|  Hertz Global Holdings, Inc., Series 2023-1A, Class B, 6.22%, 06/25/2027 <sup>(a)</sup> | 1000000 | 1004804 |
|  Huntington Bank Auto Credit-Linked Notes, Series 2024-1, Class B1, 6.15%, 05/20/2032 <sup>(a)</sup> | 321958 | 326132 |
| Lendbuzz Securitization Trust | Lendbuzz Securitization Trust | Lendbuzz Securitization Trust |
| &nbsp;&nbsp; Series 2023-1A, Class A2, 6.92%, 08/15/2028 <sup>(a)</sup> | 392296 | 398425 |
| &nbsp;&nbsp; Series 2023-3A, Class A2, 7.50%, 12/15/2028 <sup>(a)</sup> | 295459 | 302986 |
| &nbsp;&nbsp; Series 2024-1A, Class A2, 6.19%, 08/15/2029 <sup>(a)</sup> | 627365 | 632616 |
| Lobel Automobile Receivables Trust | Lobel Automobile Receivables Trust | Lobel Automobile Receivables Trust |
| &nbsp;&nbsp; Series 2023-1, Class C, 8.31%, 10/16/2028 <sup>(a)</sup> | 2000000 | 2031411 |
| &nbsp;&nbsp; Series 2023-2, Class C, 10.04%, 06/15/2029 <sup>(a)</sup> | 3000000 | 3133102 |
|  Luxury Lease Partners Auto Lease Trust, Series 2024-4, Class A, 7.29%, 07/15/2030 <sup>(a)</sup> | 384797 | 386697 |
|  Prestige Auto Receivables Trust, Series 2025-1A, Class B, 5.34%, 11/15/2028 <sup>(a)</sup> | 3000000 | 3009144 |
| Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust |
| &nbsp;&nbsp; Series 2023-3A, Class A, 7.13%, 01/26/2032 <sup>(a)</sup> | 265476 | 266985 |
| &nbsp;&nbsp; Series 2023-4A, Class A, 7.54%, 03/25/2032 <sup>(a)</sup> | 894940 | 903716 |
|  Santander Holdings USA, Inc., Series 2022-A, Class B, 5.28%, 05/15/2032 <sup>(a)</sup> | 5430 | 5430 |
|  Skopos Auto Receivable Trust, Series 2019-1A, Class E, 7.82%, 06/15/2026 <sup>(a)</sup> | 546330 | 548080 |
|  Strike Acceptance Auto Funding Trust, Series 2025-1A, Class A, 5.84%, 04/15/2032 <sup>(a)</sup> | 1931473 | 1929372 |
|  Tricolor Auto Securitization Trust, Series 2024-3A, Class A, 5.22%, 06/15/2028 <sup>(a)</sup> | 595579 | 596271 |
|  United Auto Credit Securitization Trust, Series 2025-1, Class B, 5.05%, 02/10/2028 <sup>(a)</sup> | 3500000 | 3504011 |
| US Auto Funding Trust | US Auto Funding Trust | US Auto Funding Trust |
| &nbsp;&nbsp; Series 2022-1A, Class A, 3.98%, 10/15/2025 <sup>(a)</sup> | 196674 | 195213 |
| &nbsp;&nbsp; Series 2022-1A, Class B, 5.13%, 12/15/2025 <sup>(a)</sup> | 750000 | 317002 |
| Veros Automobile Receivables Trust | Veros Automobile Receivables Trust | Veros Automobile Receivables Trust |
| &nbsp;&nbsp; Series 2021-1, Class C, 3.64%, 08/15/2028 <sup>(a)</sup> | 515701 | 512220 |
| &nbsp;&nbsp; Series 2023-1, Class A, 7.12%, 11/15/2028 <sup>(a)</sup> | 339344 | 340178 |
|  |  | 68905802 |
| **Consumer - 17.4%** | **Consumer - 17.4%** | **Consumer - 17.4%** |
| ACHV ABS Trust | ACHV ABS Trust | ACHV ABS Trust |
| &nbsp;&nbsp; Series 2023-1PL, Class D, 8.47%, 03/18/2030 <sup>(a)</sup> | 3084525 | 3128878 |
| &nbsp;&nbsp; Series 2023-3PL, Class C, 7.35%, 08/19/2030 <sup>(a)</sup> | 169054 | 169525 |
| &nbsp;&nbsp; Series 2023-3PL, Class D, 8.36%, 08/19/2030 <sup>(a)</sup> | 3200000 | 3258656 |
| &nbsp;&nbsp; Series 2024-1PL, Class C, 6.42%, 04/25/2031 <sup>(a)</sup> | 645092 | 650590 |
| &nbsp;&nbsp; Series 2024-1PL, Class D, 7.29%, 04/25/2031 <sup>(a)</sup> | 990575 | 1001146 |
| &nbsp;&nbsp; Series 2024-2PL, Class A, 5.07%, 10/27/2031 <sup>(a)</sup> | 1262880 | 1264910 |
| &nbsp;&nbsp; Series 2024-2PL, Class B, 5.43%, 10/27/2031 <sup>(a)</sup> | 670542 | 673287 |
| &nbsp;&nbsp; Series 2024-3AL, Class C, 5.68%, 12/26/2031 <sup>(a)</sup> | 1364932 | 1365494 |
| Affirm, Inc. | Affirm, Inc. | Affirm, Inc. |
| &nbsp;&nbsp; Series 2023-B, Class 1B, 7.44%, 09/15/2028 <sup>(a)</sup> | 1200000 | 1209512 |
| &nbsp;&nbsp; Series 2023-X1, Class B, 7.77%, 11/15/2028 <sup>(a)</sup> | 449864 | 450638 |
|  AMCR ABS Trust, Series 2024-A, Class A, 6.26%, 08/18/2031 <sup>(a)</sup> | 2625774 | 2635554 |
|  Cascade Funding Mortgage Trust, Series 2021-GRN1, Class A, 1.10%, 03/20/2041 <sup>(a)</sup> | 288890 | 285170 |
|  Foundation Finance Trust, Series 2021-2A, Class A, 2.19%, 01/15/2042 <sup>(a)</sup> | 549830 | 515478 |
| FREED ABS Trust | FREED ABS Trust | FREED ABS Trust |
| &nbsp;&nbsp; Series 2021-3FP, Class D, 2.37%, 11/20/2028 <sup>(a)</sup> | 67758 | 67311 |
| &nbsp;&nbsp; Series 2022-3FP, Class D, 7.36%, 08/20/2029 <sup>(a)</sup> | 794215 | 797585 |
| &nbsp;&nbsp; Series 2022-4FP, Class D, 7.40%, 12/18/2029 <sup>(a)</sup> | 2218618 | 2230030 |
|  Goldman Home Improvement Trust, Series 2021-GRN2, Class A, 1.15%, 06/25/2051 <sup>(a)</sup> | 595706 | 577191 |
| Lendingpoint Asset Securitization Trust | Lendingpoint Asset Securitization Trust | Lendingpoint Asset Securitization Trust |
| &nbsp;&nbsp; Series 2022-B, Class A, 4.77%, 10/15/2029 <sup>(a)</sup> | 1517 | 1516 |
| &nbsp;&nbsp; Series 2022-C, Class B, 7.46%, 02/15/2030 <sup>(a)</sup> | 679163 | 679226 |
| LendingPoint Pass-Through Trust | LendingPoint Pass-Through Trust | LendingPoint Pass-Through Trust |
| &nbsp;&nbsp; Series 2022-ST1, Class A, 2.50%, 03/15/2028 <sup>(a)</sup> | 108957 | 106830 |
| &nbsp;&nbsp; Series 2022-ST2, Class A, 3.25%, 04/15/2028 <sup>(a)</sup> | 162461 | 159322 |
| Marlette Funding Trust | Marlette Funding Trust | Marlette Funding Trust |
| &nbsp;&nbsp; Series 2023-1A, Class B, 6.50%, 04/15/2033 <sup>(a)</sup> | 611237 | 612556 |
| &nbsp;&nbsp; Series 2023-1A, Class C, 7.20%, 04/15/2033 <sup>(a)</sup> | 2000000 | 2018449 |
| &nbsp;&nbsp; Series 2023-3A, Class C, 7.06%, 09/15/2033 <sup>(a)</sup> | 3200000 | 3233416 |
|  Momnt Technologies Trust, Series 2023-1A, Class A, 6.92%, 03/20/2045 <sup>(a)</sup> | 605552 | 605345 |
|  NetCredit Funding LLC, Series 2024-A, Class A, 7.43%, 10/21/2030 <sup>(a)</sup> | 136183 | 138030 |
| Oportun Financial Corp. | Oportun Financial Corp. | Oportun Financial Corp. |
| &nbsp;&nbsp; Series 2022-A, Class B, 5.25%, 06/09/2031 <sup>(a)</sup> | 4350000 | 4347230 |
| &nbsp;&nbsp; Series 2024-2, Class A, 5.86%, 02/09/2032 <sup>(a)</sup> | 465694 | 466367 |
| &nbsp;&nbsp; Series 2024-2, Class B, 5.83%, 02/09/2032 <sup>(a)</sup> | 500000 | 502203 |
| &nbsp;&nbsp; Series 2024-3, Class B, 5.48%, 08/15/2029 <sup>(a)</sup> | 3000000 | 3004925 |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust |
| &nbsp;&nbsp; Series 2021-1, Class C, 4.09%, 11/15/2027 <sup>(a)</sup> | 35218 | 34463 |
| &nbsp;&nbsp; Series 2021-HG1, Class B, 1.82%, 01/16/2029 <sup>(a)</sup> | 555382 | 543839 |
| &nbsp;&nbsp; Series 2022-1, Class C, 4.89%, 10/15/2029 <sup>(a)</sup> | 3882982 | 3800929 |
| &nbsp;&nbsp; Series 2022-5, Class A, 8.10%, 06/17/2030 <sup>(a)</sup> | 633232 | 636439 |
| &nbsp;&nbsp; Series 2023-5, Class B, 7.63%, 04/15/2031 <sup>(a)</sup> | 363794 | 364113 |
| &nbsp;&nbsp; Series 2023-5, Class C, 9.10%, 04/15/2031 <sup>(a)</sup> | 1749985 | 1760082 |
| &nbsp;&nbsp; Series 2023-7, Class ABC, 8.35%, 07/15/2031 <sup>(a)(b)</sup> | 1929197 | 1942294 |
| &nbsp;&nbsp; Series 2023-7, Class C, 8.80%, 07/15/2031 <sup>(a)</sup> | 1249534 | 1263077 |
| &nbsp;&nbsp; Series 2023-8, Class B, 7.96%, 06/16/2031 <sup>(a)</sup> | 5269857 | 5387654 |
| &nbsp;&nbsp; Series 2023-8, Class C, 9.54%, 06/16/2031 <sup>(a)</sup> | 5716682 | 5874172 |
| &nbsp;&nbsp; Series 2024-1, Class B, 7.11%, 07/15/2031 <sup>(a)</sup> | 2769583 | 2799778 |
| &nbsp;&nbsp; Series 2024-1, Class C, 8.34%, 07/15/2031 <sup>(a)</sup> | 3001174 | 3053524 |
| &nbsp;&nbsp; Series 2024-10, Class C, 5.99%, 06/15/2032 <sup>(a)</sup> | 1999831 | 2006904 |
| &nbsp;&nbsp; Series 2024-11, Class B, 5.64%, 07/15/2032 <sup>(a)</sup> | 4999426 | 5014078 |
| &nbsp;&nbsp; Series 2024-11, Class C, 5.87%, 07/15/2032 <sup>(a)</sup> | 999885 | 1003439 |
| &nbsp;&nbsp; Series 2024-2, Class B, 6.61%, 08/15/2031 <sup>(a)</sup> | 4221054 | 4266330 |
| &nbsp;&nbsp; Series 2024-2, Class C, 7.57%, 08/15/2031 <sup>(a)</sup> | 686322 | 696585 |
| &nbsp;&nbsp; Series 2024-3, Class A, 6.26%, 10/15/2031 <sup>(a)</sup> | 302363 | 305072 |
| &nbsp;&nbsp; Series 2024-3, Class B, 6.57%, 10/15/2031 <sup>(a)</sup> | 3605537 | 3643653 |
| &nbsp;&nbsp; Series 2024-3, Class C, 7.30%, 10/15/2031 <sup>(a)</sup> | 720654 | 731154 |
| &nbsp;&nbsp; Series 2024-5, Class B, 6.60%, 10/15/2031 <sup>(a)</sup> | 1509498 | 1525017 |
| &nbsp;&nbsp; Series 2024-6, Class B, 6.59%, 11/15/2031 <sup>(a)</sup> | 1559147 | 1576877 |
| &nbsp;&nbsp; Series 2024-9, Class D, 6.17%, 03/15/2032 <sup>(a)</sup> | 999847 | 998599 |
| &nbsp;&nbsp; Series 2025-1, Class B, 5.63%, 07/15/2032 <sup>(a)</sup> | 1000000 | 1004657 |
| &nbsp;&nbsp; Series 2025-1, Class C, 5.87%, 07/15/2032 <sup>(a)</sup> | 1000000 | 999709 |
| &nbsp;&nbsp; Series 2025-2, Class B, 5.33%, 10/15/2032 <sup>(a)</sup> | 1625000 | 1620542 |
| &nbsp;&nbsp; Series 2025-2, Class C, 5.64%, 10/15/2032 <sup>(a)</sup> | 2000000 | 1994278 |
| &nbsp;&nbsp; Series 2025-3, Class A2, 5.37%, 12/15/2032 <sup>(a)</sup> | 1000000 | 1004236 |
| &nbsp;&nbsp; Series 2025-3, Class B, 6.06%, 12/15/2032 <sup>(a)</sup> | 1000000 | 1004896 |
|  Prosper Marketplace Issuance Trust, Series 2023-1A, Class C, 8.29%, 07/16/2029 <sup>(a)</sup> | 1500000 | 1521576 |
|  Reach Financial LLC, Series 2021-1A, Class C, 3.54%, 05/15/2029 <sup>(a)</sup> | 457266 | 454332 |
|  Sotheby's Artfi Master Trust, Series 2024-1A, Class A1, 6.43%, 12/22/2031 <sup>(a)</sup> | 3446000 | 3480517 |
|  SpringCastle America LLC, Series 2020-AA, Class A, 1.97%, 09/25/2037 <sup>(a)</sup> | 5212166 | 4883140 |
|  Theorem Funding Trust, Series 2022-3A, Class B, 8.95%, 04/15/2029 <sup>(a)</sup> | 1400000 | 1436831 |
| Upstart Pass-Through Trust Series | Upstart Pass-Through Trust Series | Upstart Pass-Through Trust Series |
| &nbsp;&nbsp; Series 2020-ST6, Class A, 3.00%, 01/20/2027 <sup>(a)</sup> | 7191 | 7179 |
| &nbsp;&nbsp; Series 2021-ST1, Class A, 2.75%, 02/20/2027 <sup>(a)</sup> | 112625 | 112278 |
| &nbsp;&nbsp; Series 2021-ST4, Class A, 2.00%, 07/20/2027 <sup>(a)</sup> | 755388 | 747219 |
| &nbsp;&nbsp; Series 2022-ST1, Class A, 2.60%, 03/20/2030 <sup>(a)</sup> | 72300 | 72174 |
| &nbsp;&nbsp; Series 2022-ST3, Class A, 4.30%, 05/20/2030 <sup>(a)</sup> | 397907 | 393447 |
| Upstart Securitization Trust | Upstart Securitization Trust | Upstart Securitization Trust |
| &nbsp;&nbsp; Series 2021-1, Class C, 4.06%, 03/20/2031 <sup>(a)</sup> | 113898 | 113558 |
| &nbsp;&nbsp; Series 2021-3, Class C, 3.28%, 07/20/2031 <sup>(a)</sup> | 487347 | 481201 |
| &nbsp;&nbsp; Series 2022-4, Class A, 5.98%, 08/20/2032 <sup>(a)</sup> | 136578 | 136586 |
| &nbsp;&nbsp; Series 2023-2, Class A, 6.77%, 06/20/2033 <sup>(a)</sup> | 88921 | 89060 |
| &nbsp;&nbsp; Series 2025-1, Class A, 5.45%, 04/20/2035 <sup>(a)</sup> | 1000000 | 998995 |
| Upstart Structured Pass-Through Trust | Upstart Structured Pass-Through Trust | Upstart Structured Pass-Through Trust |
| &nbsp;&nbsp; Series 2022-2A, Class A, 4.25%, 06/17/2030 <sup>(a)</sup> | 167926 | 166060 |
| &nbsp;&nbsp; Series 2022-4A, Class B, 8.54%, 11/15/2030 <sup>(a)</sup> | 1329407 | 1340324 |
|  |  | 109447237 |
| **Credit Card - 0.3%** | **Credit Card - 0.3%** | **Credit Card - 0.3%** |
|  Continental Finance Credit Card ABS Master Trust, Series 2021-A, Class A, 2.55%, 12/17/2029 <sup>(a)</sup> | 609477 | 607969 |
|  Mission Lane Credit Card Master Trust, Series 2025-A, Class A, 5.80%, 05/15/2030 <sup>(a)</sup> | 1500000 | 1508577 |
|  |  | 2116546 |
| **Equipment - 0.5%** | **Equipment - 0.5%** | **Equipment - 0.5%** |
|  ClickLease Equipment Receivables Trust, Series 2024-1, Class A, 6.86%, 02/15/2030 <sup>(a)</sup> | 121736 | 121867 |
|  Octane Receivables Trust, Series 2022-2A, Class D, 7.70%, 02/20/2030 <sup>(a)</sup> | 3000000 | 3098003 |
|  |  | 3219870 |
| **Fiber - 0.7%** | **Fiber - 0.7%** | **Fiber - 0.7%** |
|  Frontier Communications Parent, Inc., Series 2023-1, Class A2, 6.60%, 08/20/2053 <sup>(a)</sup> | 4000000 | 4065740 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $188,114,123) | **TOTAL ASSET-BACKED SECURITIES** (Cost $188,114,123) | 187755195 |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY - 18.4%** | **Par** | **Value** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Series K048, Class A2, 3.28%, 06/25/2025 <sup>(b)</sup> | 1072458 | 1070271 |
| &nbsp;&nbsp; Series K052, Class A2, 3.15%, 11/25/2025 | 1841747 | 1829748 |
| &nbsp;&nbsp; Series K053, Class A2, 3.00%, 12/25/2025 | 1901709 | 1885297 |
| &nbsp;&nbsp; Series K054, Class A2, 2.75%, 01/25/2026 | 2490171 | 2462876 |
| &nbsp;&nbsp; Series K055, Class A2, 2.67%, 03/25/2026 | 5746340 | 5665512 |
| &nbsp;&nbsp; Series K056, Class A2, 2.53%, 05/25/2026 | 984851 | 969159 |
| &nbsp;&nbsp; Series K057, Class A2, 2.57%, 07/25/2026 | 2639787 | 2591289 |
| &nbsp;&nbsp; Series K058, Class A2, 2.65%, 08/25/2026 | 6000000 | 5882514 |
| &nbsp;&nbsp; Series K059, Class A2, 3.12%, 09/25/2026 <sup>(b)</sup> | 3420000 | 3374941 |
| &nbsp;&nbsp; Series K062, Class A2, 3.41%, 12/25/2026 | 200000 | 197674 |
| &nbsp;&nbsp; Series K062, Class AM, 3.51%, 12/25/2026 | 2860000 | 2831217 |
| &nbsp;&nbsp; Series K734, Class A2, 3.21%, 02/25/2026 | 986364 | 978543 |
| &nbsp;&nbsp; Series K-F100, Class AL, 4.58% (30 day avg SOFR US + 0.24%), 11/25/2027 | 4687394 | 4661008 |
| &nbsp;&nbsp; Series K-F100, Class AS, 4.51% (30 day avg SOFR US + 0.18%), 01/25/2028 | 1687984 | 1675771 |
| &nbsp;&nbsp; Series K-F101, Class AS, 4.53% (30 day avg SOFR US + 0.20%), 01/25/2031 | 297451 | 292640 |
| &nbsp;&nbsp; Series K-F104, Class AS, 4.58% (30 day avg SOFR US + 0.25%), 01/25/2031 | 3683119 | 3663970 |
| &nbsp;&nbsp; Series K-F105, Class AS, 4.58% (30 day avg SOFR US + 0.25%), 02/25/2031 | 5150812 | 5128905 |
| &nbsp;&nbsp; Series K-F108, Class AS, 4.58% (30 day avg SOFR US + 0.25%), 02/25/2031 | 537211 | 534366 |
| &nbsp;&nbsp; Series K-F113, Class AS, 4.56% (30 day avg SOFR US + 0.23%), 05/25/2028 | 643199 | 638678 |
| &nbsp;&nbsp; Series K-F114, Class AS, 4.55% (30 day avg SOFR US + 0.22%), 05/25/2031 | 1233575 | 1215367 |
| &nbsp;&nbsp; Series K-F115, Class AS, 4.54% (30 day avg SOFR US + 0.21%), 06/25/2031 | 4322867 | 4257527 |
| &nbsp;&nbsp; Series K-F117, Class AS, 4.57% (30 day avg SOFR US + 0.24%), 06/25/2031 | 440462 | 434741 |
| &nbsp;&nbsp; Series K-F118, Class AS, 4.53% (30 day avg SOFR US + 0.20%), 07/25/2028 | 2435879 | 2414959 |
| &nbsp;&nbsp; Series K-F121, Class AS, 4.51% (30 day avg SOFR US + 0.18%), 08/25/2028 | 3589527 | 3555477 |
| &nbsp;&nbsp; Series K-F122, Class AS, 4.52% (30 day avg SOFR US + 0.19%), 09/25/2031 | 2217364 | 2205377 |
| &nbsp;&nbsp; Series KF123, Class AS, 4.53% (30 day avg SOFR US + 0.20%), 09/25/2028 | 1597810 | 1583233 |
| &nbsp;&nbsp; Series KF128, Class AS, 4.56% (30 day avg SOFR US + 0.23%), 12/25/2031 | 3299136 | 3275752 |
| &nbsp;&nbsp; Series KF129, Class AS, 4.58% (30 day avg SOFR US + 0.25%), 01/25/2029 | 2325999 | 2307277 |
| &nbsp;&nbsp; Series KF130, Class AS, 4.62% (30 day avg SOFR US + 0.29%), 01/25/2029 | 1024494 | 1021619 |
| &nbsp;&nbsp; Series KF133, Class AS, 4.70% (30 day avg SOFR US + 0.37%), 02/25/2029 | 3647951 | 3632513 |
| &nbsp;&nbsp; Series KF135, Class AS, 4.70% (30 day avg SOFR US + 0.37%), 05/25/2029 | 690694 | 689614 |
| &nbsp;&nbsp; Series KF155, Class AS, 5.00% (30 day avg SOFR US + 0.67%), 02/25/2030 | 950536 | 957082 |
| &nbsp;&nbsp; Series KF160, Class AS, 5.03% (30 day avg SOFR US + 0.70%), 10/25/2030 | 2110606 | 2124721 |
| &nbsp;&nbsp; Series KF166, Class AS, 4.93% (30 day avg SOFR US + 0.60%), 01/25/2032 | 5000000 | 5006250 |
| &nbsp;&nbsp; Series KF43, Class A, 4.69% (30 day avg SOFR US + 0.35%), 01/25/2028 | 2114307 | 2107592 |
| &nbsp;&nbsp; Series KF48, Class A, 4.74% (30 day avg SOFR US + 0.40%), 06/25/2028 | 818089 | 816169 |
| &nbsp;&nbsp; Series KF60, Class A, 4.94% (30 day avg SOFR US + 0.60%), 02/25/2026 | 680213 | 681431 |
| &nbsp;&nbsp; Series KF62, Class A, 4.93% (30 day avg SOFR US + 0.59%), 04/25/2026 | 577647 | 575807 |
| &nbsp;&nbsp; Series KF64, Class A, 4.89% (30 day avg SOFR US + 0.55%), 06/25/2026 | 276633 | 275662 |
| &nbsp;&nbsp; Series KF67, Class A, 4.97% (30 day avg SOFR US + 0.63%), 08/25/2029 | 1038607 | 1043982 |
| &nbsp;&nbsp; Series KF68, Class A, 4.94% (30 day avg SOFR US + 0.60%), 07/25/2026 | 3037907 | 3045019 |
| &nbsp;&nbsp; Series KF74, Class AS, 4.87% (SOFR 1M Historical Calendar Day Compounded + 0.53%), 01/25/2027 | 14649 | 14594 |
| &nbsp;&nbsp; Series KF75, Class AS, 4.89% (SOFR 1M Historical Calendar Day Compounded + 0.55%), 12/25/2029 | 530402 | 531503 |
| &nbsp;&nbsp; Series KF81, Class AS, 4.73% (30 day avg SOFR US + 0.40%), 06/25/2027 | 916078 | 914951 |
| &nbsp;&nbsp; Series KF82, Class AS, 4.75% (30 day avg SOFR US + 0.42%), 06/25/2030 | 529634 | 527726 |
| &nbsp;&nbsp; Series KF84, Class AL, 4.75% (30 day avg SOFR US + 0.41%), 07/25/2030 | 1406322 | 1410500 |
| &nbsp;&nbsp; Series KF86, Class AL, 4.74% (30 day avg SOFR US + 0.40%), 08/25/2027 | 1152940 | 1151422 |
| &nbsp;&nbsp; Series KF86, Class AS, 4.65% (30 day avg SOFR US + 0.32%), 08/25/2027 | 3779615 | 3768114 |
| &nbsp;&nbsp; Series KF88, Class AL, 4.78% (30 day avg SOFR US + 0.44%), 09/25/2030 | 1387150 | 1383327 |
| &nbsp;&nbsp; Series KF91, Class AL, 4.78% (30 day avg SOFR US + 0.44%), 10/25/2030 | 594008 | 594036 |
| &nbsp;&nbsp; Series KF92, Class AS, 4.69% (30 day avg SOFR US + 0.36%), 10/25/2030 | 130128 | 128592 |
| &nbsp;&nbsp; Series KF93, Class AL, 4.73% (30 day avg SOFR US + 0.39%), 10/25/2027 | 770397 | 768966 |
| &nbsp;&nbsp; Series KF93, Class AS, 4.64% (30 day avg SOFR US + 0.31%), 10/25/2027 | 658690 | 656191 |
| &nbsp;&nbsp; Series KF94, Class AL, 4.75% (30 day avg SOFR US + 0.41%), 11/25/2030 | 2024457 | 2015735 |
| &nbsp;&nbsp; Series KF95, Class AL, 4.71% (30 day avg SOFR US + 0.37%), 11/25/2030 | 89655 | 88657 |
| &nbsp;&nbsp; Series KF96, Class AS, 4.63% (30 day avg SOFR US + 0.30%), 11/25/2030 | 2587991 | 2562549 |
| &nbsp;&nbsp; Series KF97, Class AS, 4.58% (30 day avg SOFR US + 0.25%), 12/25/2030 | 98921 | 97700 |
| &nbsp;&nbsp; Series KF98, Class AL, 4.62% (30 day avg SOFR US + 0.28%), 12/25/2030 | 5105369 | 5050599 |
| &nbsp;&nbsp; Series KF99, Class AS, 4.53% (30 day avg SOFR US + 0.20%), 12/25/2030 | 988313 | 973615 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; Pool AN0571, 3.10%, 01/01/2026 | 2000000 | 1980212 |
| &nbsp;&nbsp; Pool BM7189, 2.94%, 10/01/2025 <sup>(b)</sup> | 1258778 | 1253080 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY** (Cost $115,686,248) | **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY** (Cost $115,686,248) | 115433619 |
| **CORPORATE OBLIGATIONS - 16.2%** | **Par** | **Value** |
| **Basic Materials - 1.0%** | **Basic Materials - 1.0%** | **Basic Materials - 1.0%** |
|  Cabot Corp., 3.40%, 09/15/2026 | 700000 | 690417 |
|  Consolidated Energy Finance SA, 6.50%, 05/15/2026 <sup>(a)</sup> | 500000 | 482493 |
|  First Quantum Minerals Ltd., 6.88%, 10/15/2027 <sup>(a)</sup> | 600000 | 593238 |
|  FMC Corp., 5.15%, 05/18/2026 | 1750000 | 1752591 |
|  International Flavors & Fragrances, Inc., 1.23%, 10/01/2025 <sup>(a)</sup> | 1735000 | 1703978 |
|  Methanex Corp., 5.13%, 10/15/2027 | 350000 | 343870 |
|  NOVA Chemicals Corp., 5.00%, 05/01/2025 <sup>(a)</sup> | 650000 | 650000 |
|  |  | 6216587 |
| **Communications - 0.6%** | **Communications - 0.6%** | **Communications - 0.6%** |
|  Directv Financing LLC / Directv Financing Co.-Obligor, Inc., 5.88%, 08/15/2027 <sup>(a)</sup> | 600000 | 580433 |
|  Juniper Networks, Inc., 1.20%, 12/10/2025 | 500000 | 490031 |
|  Nexstar Media, Inc., 5.63%, 07/15/2027 <sup>(a)</sup> | 450000 | 446189 |
|  Sprint LLC, 7.63%, 03/01/2026 | 1710000 | 1732606 |
|  Univision Communications, Inc., 6.63%, 06/01/2027 <sup>(a)</sup> | 600000 | 581157 |
|  |  | 3830416 |
| **Consumer, Cyclical - 2.4%** | **Consumer, Cyclical - 2.4%** | **Consumer, Cyclical - 2.4%** |
|  American Axle & Manufacturing, Inc., 6.50%, 04/01/2027 | 600000 | 585950 |
|  AutoNation, Inc., 4.50%, 10/01/2025 | 600000 | 598407 |
|  Beazer Homes USA, Inc., 5.88%, 10/15/2027 | 600000 | 586719 |
|  Carnival Corp., 7.63%, 03/01/2026 <sup>(a)</sup> | 250000 | 250894 |
| Delta Air Lines, Inc. | Delta Air Lines, Inc. | Delta Air Lines, Inc. |
| &nbsp;&nbsp; 7.00%, 05/01/2025 <sup>(a)</sup> | 450000 | 450000 |
| &nbsp;&nbsp; 7.38%, 01/15/2026 | 1700000 | 1724222 |
|  Ford Motor Credit Co. LLC, 2.90%, 02/16/2028 | 1700000 | 1556565 |
|  General Motors Financial Co., Inc., 2.40%, 04/10/2028 | 1700000 | 1579969 |
|  Harley-Davidson Financial Services, Inc., 3.35%, 06/08/2025 <sup>(a)</sup> | 550000 | 548593 |
|  Hyatt Hotels Corp., 4.85%, 03/15/2026 | 300000 | 300160 |
|  Magna International, Inc., 5.98%, 03/21/2026 | 512000 | 512017 |
|  Mattel, Inc., 3.38%, 04/01/2026 <sup>(a)</sup> | 1700000 | 1669349 |
|  Meritage Homes Corp., 5.13%, 06/06/2027 | 1700000 | 1716492 |
|  NCL Corp. Ltd., 5.88%, 03/15/2026 <sup>(a)</sup> | 76000 | 75670 |
|  PVH Corp., 4.63%, 07/10/2025 | 600000 | 600277 |
|  Royal Caribbean Cruises Ltd., 4.25%, 07/01/2026 <sup>(a)</sup> | 1000000 | 987028 |
|  Toll Brothers Finance Corp., 4.88%, 03/15/2027 | 930000 | 931602 |
|  Volkswagen Group of America Finance LLC, 3.35%, 05/13/2025 <sup>(a)</sup> | 500000 | 499772 |
|  |  | 15173686 |
| **Consumer, Non-cyclical - 0.9%** | **Consumer, Non-cyclical - 0.9%** | **Consumer, Non-cyclical - 0.9%** |
|  Ashtead Capital, Inc., 1.50%, 08/12/2026 <sup>(a)</sup> | 1750000 | 1684942 |
|  Block Financial LLC, 5.25%, 10/01/2025 | 650000 | 650466 |
|  Conagra Brands, Inc., 1.38%, 11/01/2027 | 950000 | 877226 |
|  HCA, Inc., 5.20%, 06/01/2028 | 1700000 | 1727752 |
|  JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co. Sarl, 5.13%, 02/01/2028 | 950000 | 960676 |
|  |  | 5901062 |
| **Energy - 2.5%** | **Energy - 2.5%** | **Energy - 2.5%** |
|  Archrock Partners LP / Archrock Partners Finance Corp., 6.88%, 04/01/2027 <sup>(a)</sup> | 600000 | 599732 |
|  Continental Resources, Inc., 2.27%, 11/15/2026 <sup>(a)</sup> | 1700000 | 1629813 |
|  DCP Midstream Operating LP, 5.38%, 07/15/2025 | 126000 | 126029 |
|  Energy Transfer LP, 2.90%, 05/15/2025 | 600000 | 599531 |
| EnLink Midstream Partners LP | EnLink Midstream Partners LP | EnLink Midstream Partners LP |
| &nbsp;&nbsp; 4.15%, 06/01/2025 | 450000 | 449489 |
| &nbsp;&nbsp; 4.85%, 07/15/2026 | 600000 | 600084 |
| &nbsp;&nbsp; 4.55%, 07/15/2028 | 1100000 | 1100049 |
| EQT Corp. | EQT Corp. | EQT Corp. |
| &nbsp;&nbsp; 3.13%, 05/15/2026 <sup>(a)</sup> | 550000 | 539482 |
| &nbsp;&nbsp; 3.90%, 10/01/2027 | 896000 | 879164 |
|  FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/2027 <sup>(a)</sup> | 650000 | 675241 |
|  Kinder Morgan, Inc., 4.30%, 06/01/2025 | 260000 | 259819 |
|  Occidental Petroleum Corp., 3.20%, 08/15/2026 | 950000 | 930812 |
| Ovintiv, Inc. | Ovintiv, Inc. | Ovintiv, Inc. |
| &nbsp;&nbsp; 5.65%, 05/15/2025 | 450000 | 449836 |
| &nbsp;&nbsp; 5.38%, 01/01/2026 | 1800000 | 1800329 |
|  PBF Holding Co. LLC / PBF Finance Corp., 6.00%, 02/15/2028 | 600000 | 530151 |
| Sabine Pass Liquefaction LLC | Sabine Pass Liquefaction LLC | Sabine Pass Liquefaction LLC |
| &nbsp;&nbsp; 5.88%, 06/30/2026 | 535000 | 539734 |
| &nbsp;&nbsp; 4.20%, 03/15/2028 | 750000 | 744889 |
|  Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 03/01/2027 <sup>(a)</sup> | 400000 | 395218 |
|  Targa Resources Partners LP / Targa Resources Partners Finance Corp., 6.50%, 07/15/2027 | 525000 | 527184 |
|  USA Compression Partners LP / USA Compression Finance Corp., 6.88%, 09/01/2027 | 300000 | 297744 |
|  Western Midstream Operating LP, 4.75%, 08/15/2028 | 1700000 | 1687025 |
|  |  | 15361355 |
| **Financial - 4.2%** | **Financial - 4.2%** | **Financial - 4.2%** |
| Aircastle Ltd. | Aircastle Ltd. | Aircastle Ltd. |
| &nbsp;&nbsp; 5.25%, 08/11/2025 <sup>(a)</sup> | 450000 | 449326 |
| &nbsp;&nbsp; 2.85%, 01/26/2028 <sup>(a)</sup> | 1250000 | 1180099 |
|  Apollo Management Holdings LP, 4.40%, 05/27/2026 <sup>(a)</sup> | 340000 | 338970 |
| Ares Capital Corp. | Ares Capital Corp. | Ares Capital Corp. |
| &nbsp;&nbsp; 3.25%, 07/15/2025 | 600000 | 598095 |
| &nbsp;&nbsp; 7.00%, 01/15/2027 | 1150000 | 1182225 |
| Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. | Avolon Holdings Funding Ltd. |
| &nbsp;&nbsp; 2.53%, 11/18/2027 <sup>(a)</sup> | 600000 | 563439 |
| &nbsp;&nbsp; 6.38%, 05/04/2028 <sup>(a)</sup> | 1100000 | 1134672 |
|  Blackstone Mortgage Trust, Inc., 3.75%, 01/15/2027 <sup>(a)</sup> | 600000 | 570818 |
|  Capital One Financial Corp., 4.20%, 10/29/2025 | 1700000 | 1696712 |
|  Discover Bank, 3.45%, 07/27/2026 | 1100000 | 1083170 |
|  Fifth Third Bank, Inc., 3.85%, 03/15/2026 | 750000 | 743024 |
|  Freedom Mortgage Corp., 6.63%, 01/15/2027 <sup>(a)</sup> | 600000 | 596112 |
|  GGAM Finance Ltd., 8.00%, 02/15/2027 <sup>(a)</sup> | 250000 | 256887 |
|  Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/2027 <sup>(a)</sup> | 600000 | 598576 |
|  goeasy Ltd., 4.38%, 05/01/2026 <sup>(a)</sup> | 274000 | 270237 |
|  HAT Holdings I LLC / HAT Holdings II LLC, 3.38%, 06/15/2026 <sup>(a)</sup> | 1750000 | 1699050 |
|  Host Hotels & Resorts LP, 4.50%, 02/01/2026 | 950000 | 947021 |
|  Jefferson Capital Holdings LLC, 6.00%, 08/15/2026 <sup>(a)</sup> | 220000 | 219079 |
| Lloyds Banking Group PLC | Lloyds Banking Group PLC | Lloyds Banking Group PLC |
| &nbsp;&nbsp; 4.58%, 12/10/2025 | 950000 | 947435 |
| &nbsp;&nbsp; 4.65%, 03/24/2026 | 250000 | 249246 |
| LPL Holdings, Inc. | LPL Holdings, Inc. | LPL Holdings, Inc. |
| &nbsp;&nbsp; 5.70%, 05/20/2027 | 140000 | 142745 |
| &nbsp;&nbsp; 4.63%, 11/15/2027 <sup>(a)</sup> | 1560000 | 1553398 |
|  Macquarie Airfinance Holdings Ltd., 8.38%, 05/01/2028 <sup>(a)</sup> | 2050000 | 2135854 |
|  Nationstar Mortgage Holdings, Inc., 6.00%, 01/15/2027 <sup>(a)</sup> | 250000 | 250321 |
|  OneMain Finance Corp., 3.50%, 01/15/2027 | 450000 | 431188 |
|  PennyMac Financial Services, Inc., 5.38%, 10/15/2025 <sup>(a)</sup> | 500000 | 497505 |
|  Radian Group, Inc., 4.88%, 03/15/2027 | 1700000 | 1693525 |
|  Starwood Property Trust, Inc., 4.38%, 01/15/2027 <sup>(a)</sup> | 300000 | 294537 |
|  Synchrony Bank, 5.63%, 08/23/2027 | 1700000 | 1718699 |
|  Truist Bank, 3.63%, 09/16/2025 | 600000 | 597507 |
|  United Wholesale Mortgage LLC, 5.75%, 06/15/2027 <sup>(a)</sup> | 400000 | 394976 |
|  VICI Properties LP / VICI Note Co., Inc., 4.50%, 09/01/2026 <sup>(a)</sup> | 1573000 | 1566935 |
|  |  | 26601383 |
| **Industrial - 3.0%** | **Industrial - 3.0%** | **Industrial - 3.0%** |
|  Arrow Electronics, Inc., 3.88%, 01/12/2028 | 1700000 | 1664831 |
|  Avnet, Inc., 6.25%, 03/15/2028 | 1700000 | 1760788 |
|  Berry Global, Inc., 1.57%, 01/15/2026 | 1700000 | 1657843 |
|  Boeing Co., 2.75%, 02/01/2026 | 1750000 | 1720560 |
|  Brambles USA, Inc., 4.13%, 10/23/2025 <sup>(a)</sup> | 600000 | 598524 |
| Flex Ltd. | Flex Ltd. | Flex Ltd. |
| &nbsp;&nbsp; 4.75%, 06/15/2025 | 200000 | 199919 |
| &nbsp;&nbsp; 3.75%, 02/01/2026 | 1500000 | 1486832 |
| GATX Corp. | GATX Corp. | GATX Corp. |
| &nbsp;&nbsp; 3.25%, 09/15/2026 | 600000 | 589078 |
| &nbsp;&nbsp; 3.50%, 03/15/2028 | 1100000 | 1070779 |
|  Hexcel Corp., 4.20%, 02/15/2027 | 1700000 | 1675903 |
|  Jabil, Inc., 1.70%, 04/15/2026 | 400000 | 388722 |
|  Owens-Brockway Glass Container, Inc., 6.63%, 05/13/2027 <sup>(a)</sup> | 300000 | 299604 |
|  Penske Truck Leasing Co. LP / PTL Finance Corp., 5.75%, 05/24/2026 <sup>(a)</sup> | 135000 | 136485 |
|  Rolls-Royce PLC, 3.63%, 10/14/2025 <sup>(a)</sup> | 1750000 | 1742236 |
|  Sealed Air Corp., 1.57%, 10/15/2026 <sup>(a)</sup> | 1750000 | 1670351 |
|  Silgan Holdings, Inc., 1.40%, 04/01/2026 <sup>(a)</sup> | 1750000 | 1688074 |
|  Westinghouse Air Brake Technologies Corp., 3.20%, 06/15/2025 | 450000 | 448991 |
|  |  | 18799520 |
| **Technology - 0.2%** | **Technology - 0.2%** | **Technology - 0.2%** |
|  CDW LLC / CDW Finance Corp., 2.67%, 12/01/2026 | 950000 | 919309 |
| **Utilities - 1.4%** | **Utilities - 1.4%** | **Utilities - 1.4%** |
|  National Fuel Gas Co., 5.50%, 10/01/2026 | 1700000 | 1719976 |
| NRG Energy, Inc. | NRG Energy, Inc. | NRG Energy, Inc. |
| &nbsp;&nbsp; 2.00%, 12/02/2025 <sup>(a)</sup> | 1100000 | 1079838 |
| &nbsp;&nbsp; 2.45%, 12/02/2027 <sup>(a)</sup> | 600000 | 565798 |
|  Pacific Gas and Electric Co., 3.15%, 01/01/2026 | 1750000 | 1728463 |
|  Southern California Edison Co., 3.70%, 08/01/2025 | 1700000 | 1691921 |
| Vistra Operations Co. LLC | Vistra Operations Co. LLC | Vistra Operations Co. LLC |
| &nbsp;&nbsp; 5.13%, 05/13/2025 <sup>(a)</sup> | 450000 | 450000 |
| &nbsp;&nbsp; 5.05%, 12/30/2026 <sup>(a)</sup> | 1700000 | 1708755 |
|  |  | 8944751 |
| **TOTAL CORPORATE OBLIGATIONS** (Cost $101,758,563) | **TOTAL CORPORATE OBLIGATIONS** (Cost $101,758,563) | 101748069 |
| **COLLATERALIZED LOAN OBLIGATIONS - 14.9%** | **Par** | **Value** |
|  AMMC CLO Ltd., Series 2013-12A, Class BR, 6.06% (3 mo. Term SOFR + 1.76%), 11/10/2030 <sup>(a)</sup> | 943077 | 943071 |
|  Apidos CLO Ltd., Series 2019-31A, Class A1R, 5.62% (3 mo. Term SOFR + 1.36%), 04/15/2031 <sup>(a)</sup> | 2703874 | 2703853 |
|  ArrowMark Colorado Holdings, Series 2021-13A, Class X, 5.52% (3 mo. Term SOFR + 1.26%), 07/15/2034 <sup>(a)</sup> | 200000 | 199983 |
| Barings Middle Market CLO Ltd. | Barings Middle Market CLO Ltd. | Barings Middle Market CLO Ltd. |
| &nbsp;&nbsp; Series 2021-IA, Class X, 5.78% (3 mo. Term SOFR + 1.51%), 07/20/2033 <sup>(a)</sup> | 285714 | 285709 |
| &nbsp;&nbsp; Series 2023-IIA, Class A1, 6.42% (3 mo. Term SOFR + 2.15%), 01/20/2032 <sup>(a)</sup> | 1319871 | 1322421 |
|  BCRED MML CLO LLC, Series 2022-1A, Class A1, 5.92% (3 mo. Term SOFR + 1.65%), 04/20/2035 <sup>(a)</sup> | 5000000 | 4989940 |
|  Blackstone, Inc., Series 2018-1A, Class A2, 5.53% (3 mo. Term SOFR + 1.27%), 04/15/2031 <sup>(a)</sup> | 960005 | 959990 |
|  Canyon Capital CLO Ltd., Series 2016-1A, Class AR, 5.59% (3 mo. Term SOFR + 1.33%), 07/15/2031 <sup>(a)</sup> | 2664198 | 2664400 |
|  Canyon CLO Ltd., Series 2018-1A, Class A, 5.59% (3 mo. Term SOFR + 1.33%), 07/15/2031 <sup>(a)</sup> | 5460134 | 5460997 |
|  Carlyle Group, Inc., Series 2014-5A, Class A1RR, 5.66% (3 mo. Term SOFR + 1.40%), 07/15/2031 <sup>(a)</sup> | 3142380 | 3142635 |
|  Cathedral Lake CLO Ltd., Series 2021-6A, Class X, 5.54% (3 mo. Term SOFR + 1.26%), 04/25/2034 <sup>(a)</sup> | 842105 | 842205 |
|  Churchill Middle Market CLO Ltd., Series 2023-2A, Class X, 6.27% (3 mo. Term SOFR + 2.00%), 01/20/2036 <sup>(a)</sup> | 857143 | 858125 |
|  Gallatin CLO Ltd., Series 2017-1A, Class A1R, 5.61% (3 mo. Term SOFR + 1.35%), 07/15/2031 <sup>(a)</sup> | 1205120 | 1204235 |
|  Greywolf CLO Ltd., Series 2020-3RA, Class A1R2, 5.50% (3 mo. Term SOFR + 1.23%), 04/22/2033 <sup>(a)</sup> | 4000000 | 3994512 |
|  Highbridge Loan Management Ltd., Series 11A-17, Class BR, 6.11% (3 mo. Term SOFR + 1.81%), 05/06/2030 <sup>(a)</sup> | 4000000 | 3999980 |
|  ING Investment Management CLO Ltd., Series 2013-2A, Class A1R, 5.51% (3 mo. Term SOFR + 1.23%), 04/25/2031 <sup>(a)</sup> | 702371 | 700615 |
|  LCM Ltd., Series 14A, Class AR, 5.57% (3 mo. Term SOFR + 1.30%), 07/20/2031 <sup>(a)</sup> | 434652 | 434633 |
|  LJV I MM CLO LLC, Series 2022-1A, Class A1, 6.13% (3 mo. Term SOFR + 1.85%), 04/28/2034 <sup>(a)</sup> | 4889066 | 4896482 |
|  Neuberger Berman CLO Ltd., Series 2021-40A, Class A, 5.58% (3 mo. Term SOFR + 1.32%), 04/16/2033 <sup>(a)</sup> | 2948338 | 2948329 |
|  Newark BSL CLO Ltd., Series 2016-1A, Class A2R, 6.09% (3 mo. Term SOFR + 1.81%), 12/21/2029 <sup>(a)</sup> | 3595000 | 3595568 |
|  Octagon Investment Partners Ltd., Series 2013-1A, Class BR2, 5.94% (3 mo. Term SOFR + 1.66%), 01/25/2031 <sup>(a)</sup> | 2010000 | 2008810 |
|  OZLM Ltd., Series 2019-24A, Class A1AR, 5.69% (3 mo. Term SOFR + 1.42%), 07/20/2032 <sup>(a)</sup> | 2963177 | 2960850 |
|  Parliament Funding, Series 2020-1A, Class BR, 6.18% (3 mo. Term SOFR + 1.91%), 10/20/2031 <sup>(a)</sup> | 5474380 | 5477698 |
|  Sound Point CLO Ltd., Series 2015-2A, Class ARRR, 5.74% (3 mo. Term SOFR + 1.47%), 07/20/2032 <sup>(a)</sup> | 5891422 | 5894126 |
| Steele Creek CLO Ltd. | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. |
| &nbsp;&nbsp; Series 2014-1RA, Class B, 6.03% (3 mo. Term SOFR + 1.76%), 04/21/2031 <sup>(a)</sup> | 4218456 | 4217055 |
| &nbsp;&nbsp; Series 2019-1A, Class ARR, 5.30% (3 mo. Term SOFR + 1.04%), 04/15/2032 <sup>(a)</sup> | 1788925 | 1786084 |
| &nbsp;&nbsp; Series 2019-2A, Class ARR, 5.26% (3 mo. Term SOFR + 1.00%), 07/15/2032 <sup>(a)</sup> | 3126132 | 3120418 |
|  Symphony CLO Ltd., Series 2014-15A, Class AR3, 5.62% (3 mo. Term SOFR + 1.34%), 01/17/2032 <sup>(a)</sup> | 8664211 | 8664176 |
|  TCI-Symphony CLO Ltd., Series 2016-1A, Class AR2, 5.52% (3 mo. Term SOFR + 1.28%), 10/13/2032 <sup>(a)</sup> | 3431894 | 3431859 |
|  TCW CLO Ltd., Series 2021-2A, Class X, 5.54% (3 mo. Term SOFR + 1.26%), 07/25/2034 <sup>(a)</sup> | 266667 | 266677 |
| THL Credit Lake Shore MM CLO Ltd. | THL Credit Lake Shore MM CLO Ltd. | THL Credit Lake Shore MM CLO Ltd. |
| &nbsp;&nbsp; Series 2019-2A, Class A1RR, 5.68% (3 mo. Term SOFR + 1.40%), 10/17/2031 <sup>(a)</sup> | 1271096 | 1269894 |
| &nbsp;&nbsp; Series 2019-2A, Class CRR, 6.88% (3 mo. Term SOFR + 2.60%), 10/17/2031 <sup>(a)</sup> | 1550000 | 1552069 |
|  TIAA CLO Ltd., Series 2016-1A, Class ARR, 5.52% (3 mo. Term SOFR + 1.25%), 07/20/2031 <sup>(a)</sup> | 2942711 | 2942093 |
|  Venture CDO Ltd., Series 2018-32A, Class A1, 5.63% (3 mo. Term SOFR + 1.36%), 07/18/2031 <sup>(a)</sup> | 2121928 | 2121913 |
|  Wellfleet CLO Ltd., Series 2018-2A, Class A1R, 5.35% (3 mo. Term SOFR + 1.08%), 10/20/2031 <sup>(a)</sup> | 1444575 | 1442604 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $93,430,873) | **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $93,430,873) | 93304009 |
| **RESIDENTIAL MORTGAGE-BACKED SECURITIES - 14.4%** | **Par** | **Value** |
|  A&D Mortgage LLC, Series 2025-NQM1, Class A3, 5.84%, 03/25/2070 <sup>(a)(c)</sup> | 2474691 | 2502816 |
| Bellemeade Re Ltd. | Bellemeade Re Ltd. | Bellemeade Re Ltd. |
| &nbsp;&nbsp; Series 2023-1, Class M1B, 8.60% (30 day avg SOFR US + 4.25%), 10/25/2033 <sup>(a)</sup> | 300000 | 310193 |
| &nbsp;&nbsp; Series 2024-1, Class M1A, 6.50% (30 day avg SOFR US + 2.15%), 08/25/2034 <sup>(a)</sup> | 2375000 | 2383588 |
| BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |
| &nbsp;&nbsp; Series 2023-NQM2, Class A3, 4.50%, 05/25/2062 <sup>(a)(c)</sup> | 811056 | 803447 |
| &nbsp;&nbsp; Series 2024-NQM4, Class A1A, 4.35%, 01/25/2060 <sup>(a)(c)</sup> | 926072 | 914906 |
| &nbsp;&nbsp; Series 2025-NQM3, Class A3, 5.88%, 03/25/2065 <sup>(a)(c)</sup> | 981910 | 993332 |
|  Bunker Hill Loan Depositary Trust, Series 2019-3, Class A3, 3.14%, 11/25/2059 <sup>(a)(c)</sup> | 443632 | 438902 |
|  Cascade Funding Mortgage Trust, Series 2024-NR1, Class A1, 6.41%, 11/25/2029 <sup>(a)(c)</sup> | 944752 | 960881 |
|  Chase Mortgage Finance Corp., Series 2019-ATR2, Class A11, 5.34% (1 mo. Term SOFR + 1.01%), 07/25/2049, (6.50% Cap) <sup>(a)</sup> | 1115940 | 1050980 |
|  CIM Trust, Series 2019-INV2, Class A11, 5.42% (30 day avg SOFR US + 1.06%), 05/25/2049, (6.50% Cap) <sup>(a)</sup> | 140484 | 134214 |
| COLT Funding LLC | COLT Funding LLC | COLT Funding LLC |
| &nbsp;&nbsp; Series 2020-2, Class A3, 3.70%, 03/25/2065 <sup>(a)(b)</sup> | 1710000 | 1665282 |
| &nbsp;&nbsp; Series 2021-3R, Class A3, 1.51%, 12/25/2064 <sup>(a)(b)</sup> | 507963 | 457344 |
| &nbsp;&nbsp; Series 2022-7, Class A3, 6.25%, 04/25/2067 <sup>(a)(b)</sup> | 463920 | 465778 |
| Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust |
| &nbsp;&nbsp; Series 2023-R08, Class 1M1, 5.85% (30 day avg SOFR US + 1.50%), 10/25/2043 <sup>(a)</sup> | 499709 | 500178 |
| &nbsp;&nbsp; Series 2025-R02, Class 1A1, 5.35% (30 day avg SOFR US + 1.00%), 02/25/2045 <sup>(a)</sup> | 991886 | 988626 |
|  COOPR Residential Mortgage Trust, Series 2025-CES1, Class A1A, 5.65%, 05/25/2060 <sup>(a)(c)</sup> | 1000000 | 1010901 |
| Credit Suisse Mortgage Capital Certificates | Credit Suisse Mortgage Capital Certificates | Credit Suisse Mortgage Capital Certificates |
| &nbsp;&nbsp; Series 2019-NQM1, Class A1, 3.66%, 10/25/2059 <sup>(a)(c)</sup> | 523177 | 514034 |
| &nbsp;&nbsp; Series 2022-ATH1, Class A1A, 2.87%, 01/25/2067 <sup>(a)(b)</sup> | 1839673 | 1785197 |
|  Ellington Financial Mortgage Trust, Series 2025-NQM1, Class A3, 6.02%, 01/25/2070 <sup>(a)(c)</sup> | 1311984 | 1319874 |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Series 2022-DNA4, Class M1B, 7.70% (30 day avg SOFR US + 3.35%), 05/25/2042 <sup>(a)</sup> | 3225000 | 3342048 |
| &nbsp;&nbsp; Series 2022-DNA6, Class M1B, 8.05% (30 day avg SOFR US + 3.70%), 09/25/2042 <sup>(a)</sup> | 1016000 | 1063047 |
| &nbsp;&nbsp; Series 2022-HQA2, Class M1B, 8.35% (30 day avg SOFR US + 4.00%), 07/25/2042 <sup>(a)</sup> | 1000000 | 1053816 |
| &nbsp;&nbsp; Series 2025-HQA1, Class A1, 5.30% (30 day avg SOFR US + 0.95%), 02/25/2045 <sup>(a)</sup> | 1996875 | 1989375 |
| &nbsp;&nbsp; Series 2025-HQA1, Class M1, 5.50% (30 day avg SOFR US + 1.15%), 02/25/2045 <sup>(a)</sup> | 1238661 | 1246023 |
|  FIGRE Trust, Series 2024-HE6, Class A, 5.72%, 12/25/2054 <sup>(a)(b)</sup> | 1867965 | 1918217 |
|  Flagstar Mortgage Trust, Series 2018-6RR, Class 1A2, 5.14% (1 mo. Term SOFR + 0.81%), 10/25/2048 <sup>(a)</sup> | 844358 | 802005 |
|  Galton Funding Mortgage Trust, Series 2017-1, Class A21, 3.50%, 07/25/2056 <sup>(a)(b)</sup> | 34281 | 31284 |
| GCAT Trust | GCAT Trust | GCAT Trust |
| &nbsp;&nbsp; Series 2021-NQM2, Class A2, 1.24%, 05/25/2066 <sup>(a)(b)</sup> | 1178570 | 1028381 |
| &nbsp;&nbsp; Series 2022-NQM4, Class A3, 5.73%, 08/25/2067 <sup>(a)(c)</sup> | 572184 | 578143 |
| GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
| &nbsp;&nbsp; Series 2014-EB1A, Class B2, 6.84%, 07/25/2044 <sup>(a)(b)</sup> | 806003 | 817049 |
| &nbsp;&nbsp; Series 2020-PJ2, Class A1, 3.50%, 07/25/2050 <sup>(a)(b)</sup> | 200387 | 180375 |
| &nbsp;&nbsp; Series 2021-NQM1, Class A3, 1.53%, 07/25/2061 <sup>(a)(b)</sup> | 1243916 | 1109931 |
| &nbsp;&nbsp; Series 2021-PJ9, Class A8, 2.50%, 02/26/2052 <sup>(a)(b)</sup> | 7057260 | 6190974 |
|  Imperial Fund Mortgage Trust, Series 2021-NQM1, Class A3, 1.62%, 06/25/2056 <sup>(a)(b)</sup> | 1018269 | 899152 |
| JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| &nbsp;&nbsp; Series 2019-5, Class A11, 5.34% (1 mo. Term SOFR + 1.01%), 11/25/2049, (6.50% Cap) <sup>(a)</sup> | 595209 | 569927 |
| &nbsp;&nbsp; Series 2019-6, Class A3, 3.50%, 12/25/2049 <sup>(a)(b)</sup> | 1079500 | 988094 |
| &nbsp;&nbsp; Series 2019-LTV3, Class A3, 3.49%, 03/25/2050 <sup>(a)(b)</sup> | 65267 | 64215 |
| &nbsp;&nbsp; Series 2023-HE1, Class A1, 6.10% (30 day avg SOFR US + 1.75%), 11/25/2053 <sup>(a)</sup> | 436787 | 449129 |
|  Mello Mortgage Capital Acceptance, Series 2021-MTG2, Class A10, 2.50%, 06/25/2051 <sup>(a)(b)</sup> | 3190831 | 2824447 |
|  Metlife Securitization Trust, Series 2020-INV1, Class A5, 3.00%, 05/25/2050 <sup>(a)(b)</sup> | 1497332 | 1329022 |
|  MFRA Trust, Series 2023-NQM4, Class A3, 6.78%, 12/25/2068 <sup>(a)(c)</sup> | 708427 | 725905 |
|  Mill City Mortgage Trust, Series 2021-NMR1, Class A1, 1.13%, 11/25/2060 <sup>(a)(b)</sup> | 654916 | 633080 |
|  NMLT Trust, Series 2021-INV1, Class A3, 1.80%, 05/25/2056 <sup>(a)(b)</sup> | 1174890 | 1032842 |
| Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust |
| &nbsp;&nbsp; Series 2020-EXP1, Class 2A1, 5.19% (1 mo. Term SOFR + 0.86%), 02/25/2060 <sup>(a)</sup> | 316561 | 300475 |
| &nbsp;&nbsp; Series 2021-NQM1, Class A3, 1.33%, 02/25/2066 <sup>(a)(b)</sup> | 3660726 | 3206953 |
| &nbsp;&nbsp; Series 2024-NQM2, Class A3, 6.18%, 12/25/2063 <sup>(a)(c)</sup> | 1131044 | 1137451 |
| &nbsp;&nbsp; Series 2025-NQM4, Class A3, 5.76%, 02/25/2055 <sup>(a)(c)</sup> | 2927345 | 2956908 |
| &nbsp;&nbsp; Series 2025-NQM7, Class A3, 5.86%, 05/25/2055 <sup>(a)(c)</sup> | 1500000 | 1517853 |
|  Pretium Mortgage Credit Partners LLC, Series 2024-NPL5, Class A1, 5.96%, 09/25/2054 <sup>(a)(c)</sup> | 964049 | 963353 |
|  PRKCM Trust, Series 2023-AFC1, Class A3, 7.30%, 02/25/2058 <sup>(a)(c)</sup> | 956127 | 971078 |
| PRPM LLC | PRPM LLC | PRPM LLC |
| &nbsp;&nbsp; Series 2022-NQM1, Class A3, 5.50%, 08/25/2067 <sup>(a)(c)</sup> | 1937439 | 1987493 |
| &nbsp;&nbsp; Series 2024-2, Class A1, 7.03%, 03/25/2029 <sup>(a)(c)</sup> | 674317 | 688976 |
| &nbsp;&nbsp; Series 2024-RCF1, Class A3, 4.00%, 01/25/2054 <sup>(a)(c)</sup> | 500000 | 465597 |
| Rithm Capital Corp. | Rithm Capital Corp. | Rithm Capital Corp. |
| &nbsp;&nbsp; Series 2021-INV1, Class A6, 2.50%, 06/25/2051 <sup>(a)(b)</sup> | 1965987 | 1790758 |
| &nbsp;&nbsp; Series 2022-NQM4, Class A3, 5.00%, 06/25/2062 <sup>(a)(c)</sup> | 930241 | 916292 |
| Saluda Grade Mortgage Funding LLC | Saluda Grade Mortgage Funding LLC | Saluda Grade Mortgage Funding LLC |
| &nbsp;&nbsp; Series 2021-MF1, Class A1, 2.81%, 11/25/2029 <sup>(a)(b)</sup> | 2780517 | 2831003 |
| &nbsp;&nbsp; Series 2025-NPL1, Class A1, 7.12%, 01/25/2030 <sup>(a)(c)</sup> | 781819 | 785598 |
|  Sequoia Mortgage Trust, Series 2023-4, Class A10, 6.00%, 11/25/2053 <sup>(a)(b)</sup> | 366971 | 371736 |
|  SGR Residential Mortgage Trust, Series 2021-2, Class A2, 1.94%, 12/25/2061 <sup>(a)(b)</sup> | 3543145 | 3026349 |
|  Starwood Mortgage Residential Trust, Series 2020-INV1, Class A3, 1.59%, 11/25/2055 <sup>(a)(b)</sup> | 1175389 | 1129797 |
| Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
| &nbsp;&nbsp; Series 2019-HY3, Class A1A, 5.44% (1 mo. Term SOFR + 1.11%), 10/25/2059 <sup>(a)</sup> | 739903 | 745953 |
| &nbsp;&nbsp; Series 2021-SJ2, Class A2, 2.50%, 12/25/2061 <sup>(a)(b)</sup> | 1500000 | 1392244 |
| Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| &nbsp;&nbsp; Series 2019-INV3, Class A2, 3.95%, 11/25/2059 <sup>(a)(b)</sup> | 428992 | 425990 |
| &nbsp;&nbsp; Series 2021-4, Class A2, 1.25%, 07/25/2066 <sup>(a)(b)</sup> | 1372145 | 1153699 |
| &nbsp;&nbsp; Series 2021-8, Class A3, 2.49%, 11/25/2066 <sup>(a)(b)</sup> | 1376351 | 1228689 |
| &nbsp;&nbsp; Series 2022-5, Class A3, 3.80%, 04/25/2067 <sup>(a)(b)</sup> | 812009 | 736172 |
| &nbsp;&nbsp; Series 2023-2, Class A3, 6.85%, 03/25/2068 <sup>(a)(c)</sup> | 616858 | 626791 |
| &nbsp;&nbsp; Series 2023-3, Class A3, 6.74%, 03/25/2068 <sup>(a)(c)</sup> | 623512 | 631331 |
| &nbsp;&nbsp; Series 2025-2, Class A3, 5.66%, 03/25/2070 <sup>(a)(c)</sup> | 1979066 | 1987962 |
|  Visio Trust, Series 2021-1R, Class A3, 1.69%, 05/25/2056 <sup>(a)</sup> | 1123945 | 1049391 |
| Vista Point Securitization Trust | Vista Point Securitization Trust | Vista Point Securitization Trust |
| &nbsp;&nbsp; Series 2024-CES1, Class A1, 6.68%, 05/25/2054 <sup>(a)(c)</sup> | 1137091 | 1155803 |
| &nbsp;&nbsp; Series 2024-CES2, Class A1, 5.25%, 10/25/2054 <sup>(a)(c)</sup> | 448190 | 450664 |
| &nbsp;&nbsp; Series 2024-CES3, Class A1, 5.68%, 01/25/2055 <sup>(a)(c)</sup> | 952543 | 966024 |
| &nbsp;&nbsp; Series 2025-CES1, Class A1, 5.81%, 04/25/2055 <sup>(a)(c)</sup> | 2960433 | 3011334 |
|  WinWater Mortgage Loan Trust, Series 2015-A, Class AX1, 0.36%, 06/20/2045 <sup>(a)(b)(d)</sup> | 5108739 | 61320 |
| **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES** (Cost $93,943,529) | **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES** (Cost $93,943,529) | 90737991 |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES - 2.8%** | **Par** | **Value** |
|  ACREC Trust, Series 2021-FL1, Class AS, 5.93% (1 mo. Term SOFR + 1.61%), 10/16/2036 <sup>(a)</sup> | 370000 | 369660 |
|  BrightSpire Capital, Inc., Series 2021-FL1, Class AS, 6.03% (1 mo. Term SOFR + 1.71%), 08/19/2038 <sup>(a)</sup> | 2000000 | 1987982 |
|  BXP Trust, Series 2017-CQHP, Class A, 5.22% (1 mo. Term SOFR + 0.90%), 11/15/2034 <sup>(a)</sup> | 688679 | 672962 |
|  Credit Suisse Mortgage Capital Certificates, Series 2017-PFHP, Class A, 5.32% (1 mo. Term SOFR + 1.00%), 12/15/2030 <sup>(a)</sup> | 579675 | 564274 |
|  GS Mortgage Securities Corp., Series 2018-TWR, Class B, 5.82% (1 mo. Term SOFR + 1.50%), 07/15/2031 <sup>(a)</sup> | 775000 | 367668 |
|  JP Morgan Chase Commercial Mortgage Securities, Series 2018-PTC, Class A, 5.82% (1 mo. Term SOFR + 1.50%), 04/15/2031 <sup>(a)</sup> | 1253000 | 669579 |
|  KREF Ltd., Series 2021-FL2, Class A, 5.51% (1 mo. Term SOFR + 1.18%), 02/15/2039 <sup>(a)</sup> | 244579 | 244168 |
|  MF1 Multifamily Housing Mortgage Loan Trust, Series 2021-FL7, Class AS, 5.88% (1 mo. Term SOFR + 1.56%), 10/16/2036 <sup>(a)</sup> | 2010000 | 2001242 |
|  Natixis Commercial Mortgage Securities Trust, Series 2019-MILE, Class A, 5.90% (1 mo. Term SOFR + 1.58%), 07/15/2036 <sup>(a)</sup> | 848857 | 798414 |
|  TPG Real Estate Finance Issuer Ltd., Series 2022-FL5, Class AS, 6.48% (1 mo. Term SOFR + 2.15%), 02/15/2039 <sup>(a)</sup> | 1000000 | 998666 |
| Velocity Commercial Capital Loan Trust | Velocity Commercial Capital Loan Trust | Velocity Commercial Capital Loan Trust |
| &nbsp;&nbsp; Series 2021-2, Class A, 1.52%, 08/25/2051 <sup>(a)(b)</sup> | 2711888 | 2362893 |
| &nbsp;&nbsp; Series 2021-3, Class A, 1.96%, 10/25/2051 <sup>(a)(b)</sup> | 1837079 | 1582869 |
| &nbsp;&nbsp; Series 2021-4, Class A, 2.52%, 12/26/2051 <sup>(a)(b)</sup> | 883160 | 763478 |
|  Wells Fargo Commercial Mortgage Trust, Series 2025-VTT, Class C, 6.03%, 03/15/2038 <sup>(a)(b)</sup> | 4000000 | 4013728 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** (Cost $19,125,192) | **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** (Cost $19,125,192) | 17397583 |
| **RESIDENTIAL MORTGAGE-BACKED SECURITIES - U.S. GOVERNMENT AGENCY CREDIT RISK TRANSFER - 0.8%** | **Par** | **Value** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Series 2016-SC02, Class M2, 3.64%, 10/25/2046 <sup>(b)</sup> | 1310505 | 1292323 |
| &nbsp;&nbsp; Series 2022-DNA3, Class M1B, 7.25% (30 day avg SOFR US + 2.90%), 04/25/2042 <sup>(a)</sup> | 3111000 | 3197140 |
| &nbsp;&nbsp; Series 2025-DNA1, Class A1, 5.30% (30 day avg SOFR US + 0.95%), 01/25/2045 <sup>(a)</sup> | 637500 | 634109 |
| **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES - U.S. GOVERNMENT AGENCY CREDIT RISK TRANSFER** (Cost $5,173,212) | **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES - U.S. GOVERNMENT AGENCY CREDIT RISK TRANSFER** (Cost $5,173,212) | 5123572 |
| **RESIDENTIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY - 0.2%** | **Par** | **Value** |
|  Federal Home Loan Mortgage Corp., Series 5078, Class AB, 2.00%, 09/25/2035 | 764281 | 752944 |
|  Federal National Mortgage Association, Series 2017-61, Class K, 3.50%, 08/25/2046 | 462476 | 446675 |
| **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY** (Cost $1,236,158) | **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES – U.S. GOVERNMENT AGENCY** (Cost $1,236,158) | 1199619 |
| **SHORT-TERM INVESTMENTS - 3.0%** | **Shares** | **Value**  |
| **Money Market Funds - 3.0%** |  |  |
| First American Government Obligations Fund - Class U, 4.27% <sup>(e)</sup> | 18696879 | 18696879 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $18,696,879) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $18,696,879) | 18696879 |
| **TOTAL INVESTMENTS - 100.6% (**Cost $637,164,777**)** | **TOTAL INVESTMENTS - 100.6% (**Cost $637,164,777**)** | 631396536 |
| Liabilities in Excess of Other Assets - (0.6)% | Liabilities in Excess of Other Assets - (0.6)% | (3758615) |
| **TOTAL NET ASSETS - 100.0%** |  | $627637921 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

LP - Limited Partnership <br> PLC - Public Limited Company <br> SOFR - Secured Overnight Financing Rate

(a) Security is exempt from registration under Rule 144A or Section 4(a)(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified
 institutional buyers. As of April 30, 2025, the value of these securities total $424,309,350 or 67.6% of the Fund's net assets.

(b) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral
 increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of April 30, 2025.

(c) Step coupon bond. The rate disclosed is as of April 30, 2025.

(d) Interest only security.

(e) The rate shown represents the 7-day annualized effective yield as of April 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Angel Oak UltraShort Income Fund** | **Angel Oak UltraShort Income Fund** | **Angel Oak UltraShort Income Fund** | **Angel Oak UltraShort Income Fund** | **Angel Oak UltraShort Income Fund** |
| **Schedule of Open Futures Contracts** | **Schedule of Open Futures Contracts** | **Schedule of Open Futures Contracts** | **Schedule of Open Futures Contracts** | **Schedule of Open Futures Contracts** |
| **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** |
| **Short Futures Contracts** | **Contracts Sold** | **Expiration Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Eris SOFR 3 Year Swap | (166) | 09/22/2025 | $(15281246) | $173935 |
| &nbsp;&nbsp;&nbsp;&nbsp;Eris SOFR 3 Year Swap | (293) | 12/22/2025 | (27774395) | 330299 |
| &nbsp;&nbsp;&nbsp;&nbsp;Eris SOFR 4 Year Swap | (213) | 12/21/2026 | (19991392) | 218368 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | (359) | 06/30/2025 | (74725289) | (65296) |
| **Total Unrealized Appreciation (Depreciation)** | **Total Unrealized Appreciation (Depreciation)** | **Total Unrealized Appreciation (Depreciation)** | **Total Unrealized Appreciation (Depreciation)** | $657306 |

---

The average monthly notional value of short futures contracts during the period ended April 30, 2025, was ($81,621,963).

------

#### Securities Valuation and Fair Value Measurements (Unaudited)

The Fund record its investments at fair value in accordance with fair valuation accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs, if any, during the period. In addition, these standards require expanded disclosure for each major category of assets. These inputs are summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments based on the best information available)

The inputs or methodology used for valuing securities are not an indication of the risks associated with investing in those securities. Investments in registered open-end management investment companies, including money market funds, will be valued based upon the net asset value of such investments and are categorized as Level 1 of the fair value hierarchy.

Fair values for long-term debt securities, including asset-backed securities, mortgage-backed securities, collateralized loan obligations, corporate obligations, and whole loans are normally determined on the basis of valuations provided by independent pricing services. Vendors typically value such securities based on one or more inputs, including but not limited to, benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and pricing models such as yield measurers calculated using factors such as cash flows, financial or collateral performance and other reference data. In addition to these inputs, cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information may be utilized. Securities that use similar valuation techniques and inputs are categorized as Level 2 of the fair value hierarchy. To the extent the significant inputs are unobservable; the values generally would be categorized as Level 3.

Equity securities, including preferred stocks, that are traded on a national securities exchange, except those listed on the Nasdaq Global Market<sup>®</sup>, Nasdaq Global Select Market<sup>®</sup> and the Nasdaq Capital Market<sup>®</sup> exchanges (collectively, "Nasdaq"), are valued at the last sale price at the close of that exchange. Securities traded on Nasdaq will be valued at the Nasdaq Official Closing Price. If, on a particular day, an exchange-listed or Nasdaq security does not trade, then: (i) the security shall be valued at the mean between the most recent quoted bid and asked prices at the close of the exchange; or (ii) the security shall be valued at the latest sales price on the Composite Market (defined below) for the day such security is being valued. "Composite Market" means a consolidation of the trade information provided by national securities and foreign exchanges and over-the-counter ("OTC") markets as published by a pricing service. In the event market quotations or Composite Market pricing are not readily available, fair value will be determined in accordance with the procedures adopted by the Board of Trustees ("Board"). All equity securities that are not traded on a listed exchange are valued at the last sale price at the close of the OTC market. If a non-exchange listed security does not trade on a particular day, then the mean between the last quoted bid and asked price will be used as long as it continues to reflect the value of the security. If the mean is not available, then bid price can be used as long as the bid price continues to reflect the value of the security. Otherwise, fair value will be determined in accordance with the procedures adopted by the Board. These securities will generally be categorized as Level 3 securities. When using the market quotations or close prices provided by the pricing service and when the market is considered active, the security will be classified as a Level 1 security. Sometimes, an equity security owned by the Fund will be valued by the pricing service with factors other than market quotations or when the market is considered inactive. When this happens, the security will be classified as a Level 2 security.

Short term debt securities having a maturity of 60 days or less are generally valued at amortized cost, which approximates fair market value. These investments are categorized as Level 2 of the fair value hierarchy. Reverse repurchase agreements and repurchase agreements are priced at their acquisition cost, and assessed for credit adjustments, which represents fair value. These securities will generally be categorized as Level 2 securities.

Financial derivative instruments, such as futures contracts, that are traded on a national securities or commodities exchange are typically valued at the settlement price determined by the relevant exchange. Swaps, such as credit default swaps, interest-rate swaps and currency swaps, are valued by a pricing service. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized as Level 1 of the fair value hierarchy. OTC financial derivative instruments, such as certain futures contracts or swap agreements, derive their values from underlying asset prices, indices, reference rates, other inputs or a combination of these factors. These instruments are normally valued on the basis of evaluations provided by independent pricing services or broker dealer quotations. Derivatives that use similar valuation techniques as described above are typically categorized as Level 2 of the fair value hierarchy.

Securities may be fair valued in accordance with the fair valuation procedures approved by the Board. The Valuation and Risk Management Oversight Committee is generally responsible for overseeing the Fund's valuation processes and reports quarterly to the Board. The Board has selected Angel Oak Capital Advisors, LLC (the "Adviser") as the Valuation Designee. As such, the Valuation Committee of the Adviser has been delegated the day-to-day responsibilities for making all necessary determinations of the fair value of portfolio securities and other assets for which market quotations are not readily available or if the prices obtained from independent pricing services are deemed to be unreliable indicators of market or fair value. Representatives of the Valuation Designee's Valuation Committee report quarterly to the Valuation and Risk Management Oversight Committee.

The following is a summary of the investments by their inputs used to value the Fund's net assets as of April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets** | | | | |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | $– | $187755195 | $– | $187755195 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage-Backed Securities - U.S. Government Agency | – | 115433619 | – | 115433619 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Obligations | – | 101748069 | – | 101748069 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Loan Obligations | – | 93304009 | – | 93304009 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage-Backed Securities | – | 90737991 | – | 90737991 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage-Backed Securities | – | 17397583 | – | 17397583 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage-Backed Securities - U.S. Government Agency Credit Risk Transfer | – | 5123572 | – | 5123572 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage-Backed Securities – U.S. Government Agency | – | 1199619 | – | 1199619 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | 18696879 | – | – | 18696879 |
| **Total** | $18696879 | $612699657 | $– | $631396536 |
| **Other Financial Instruments** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts\* | $722602 | $– | $– | $722602 |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts\* | (65296) | – | – | (65296) |
| **Total** | $657306 | $– | $– | $657306 |
| \* Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. | \* Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. | \* Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. | \* Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. | \* Futures are reflected at the unrealized appreciation (depreciation) on the instrument as presented in the Schedule of Open Futures Contracts. |
| See the Schedule of Investments for further disaggregation of investment categories. | See the Schedule of Investments for further disaggregation of investment categories. | See the Schedule of Investments for further disaggregation of investment categories. | See the Schedule of Investments for further disaggregation of investment categories. | See the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Angel Oak Funds Trust

- **b. Investment Company Act file number:** 811-22980

- **c. CIK number of Registrant:** 0001612930

- **d. LEI of Registrant:** 549300DGLMLNBVBKK655

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

  - **Street Address 1:** 3344 Peachtree Road NE

  - **City:** Atlanta

  - **State:** GA

  - **Foreign country:** US

  - **Zip / Postal Code:** 30326

  - **Telephone number:** 404-953-4900

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

- **a. Name of Series:** Angel Oak UltraShort Income Fund

- **b. EDGAR series identifier (if any):** S000061509

- **c. LEI of Series:** 5493003M92WRE81EWR71

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $630655728.99

**Total Liabilities:** $4080714.36

**Net Assets:** $626575014.63

**Cash Not Reported:** $2950211.82

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 3549.415517838566 | **1-Year:** 33401.655394083620 | **5-Year:** 23190.126101654520 | **10-Year:** 5143.996564957516 | **30-Year:** 0.000000000000

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

- **3-Month:** 196.577211852781 | **1-Year:** 1716.878506727731 | **5-Year:** 533.837986034516 | **10-Year:** 174.419253267477 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000199192 | 0.57%                | 0.30%                | 0.39%                |
| Class ID C000199193 | 0.59%                | 0.32%                | 0.31%                |
| Class ID C000199194 | 0.57%                | 0.30%                | 0.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $71518.90                | $942970.72                                 |
| Month 2  | $-23760.55               | $-464651.75                                |
| Month 3  | $-67633.10               | $-172035.60                                |

**Designated Index Information**

- **Index Name:** Fund's Securities Portfolio

- **Index Identifier:** B0YG6G8GTL

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TRUIST BANK                    | Truist Bank                                                         | CUSIP: 07330MAB3<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    600000 | PA      | $597506.79    | 0.10%             | 2025-09-16      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                                   | CUSIP: 3136AXYR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    462476 | PA      | $446675.48    | 0.07%             | 2046-08-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F62A4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1387150 | PA      | $1383326.84   | 0.22%             | 2030-09-25      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F72L8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    130128 | PA      | $128592.25    | 0.02%             | 2030-10-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F73C7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    770397 | PA      | $768966.07    | 0.12%             | 2027-10-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                     | CUSIP: 3138LCT54<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1980212.00   | 0.32%             | 2026-01-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                     | CUSIP: 3140JB7B6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1258778 | PA      | $1253079.83   | 0.20%             | 2025-10-01      | Variable      | 2.94%                 | No            |                  2 | On Loan: No      |
| LendingPoint Pass-Through Trus | LendingPoint Pass-Through Trust Series 2022-ST2                     | CUSIP: 52607QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    162461 | PA      | $159322.03    | 0.03%             | 2028-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD       | Macquarie Airfinance Holdings Ltd                                   | CUSIP: 55609NAA6<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |   2050000 | PA      | $2135854.00   | 0.34%             | 2028-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2024-2                                         | CUSIP: 694961AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    686322 | PA      | $696585.37    | 0.11%             | 2031-08-15      | Fixed         | 7.57%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-5                                 | CUSIP: 69544LAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1509498 | PA      | $1525016.67   | 0.24%             | 2031-10-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-3                                 | CUSIP: 69544TAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1004236.00   | 0.16%             | 2032-12-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust 2021-1                               | CUSIP: 69547JAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     35218 | PA      | $34463.00     | 0.01%             | 2027-11-15      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2024-3                                         | CUSIP: 69547XAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    720654 | PA      | $731154.25    | 0.12%             | 2031-10-15      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2024-1                                         | CUSIP: 69548AAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2769583 | PA      | $2799778.35   | 0.45%             | 2031-07-15      | Fixed         | 7.11%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC               | Radian Group Inc                                                    | CUSIP: 750236AW1<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1693525.45   | 0.27%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor A | Research-Driven Pagaya Motor Asset Trust 2023-3                     | CUSIP: 76089RAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265476 | PA      | $266985.36    | 0.04%             | 2032-01-26      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION       | Sabine Pass Liquefaction LLC                                        | CUSIP: 785592AU0<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    750000 | PA      | $744889.42    | 0.12%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg | Saluda Grade Alternative Mortgage Trust 2025-NPL1                   | CUSIP: 79582BAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    781819 | PA      | $785598.08    | 0.13%             | 2030-01-25      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                | Sealed Air Corp                                                     | CUSIP: 81211KAZ3<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1670351.03   | 0.27%             | 2026-10-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust         | Sequoia Mortgage Trust 2023-4                                       | CUSIP: 81743JAK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    366971 | PA      | $371736.30    | 0.06%             | 2053-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Sotheby's Artfi Master Trust 2 | Sotheby's Artfi Master Trust                                        | CUSIP: 83589CAA6<br>LEI: 9845002FA850DM72BA31 | Long             | ABS-O            | CORP              | US        |   3446000 | PA      | $3480516.51   | 0.56%             | 2031-12-22      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON            | Southern California Edison Co                                       | CUSIP: 842400GN7<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1691920.63   | 0.27%             | 2025-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Springcastle SPV               | SpringCastle America Funding LLC                                    | CUSIP: 85022WAP9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5212166 | PA      | $4883140.41   | 0.78%             | 2037-09-25      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| Steele Creek CLO Ltd           | Steele Creek CLO 2019-2 LTD                                         | CUSIP: 85817EAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3126132 | PA      | $3120417.48   | 0.50%             | 2032-07-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| TCW CLO 2021-2, Ltd.           | TCW CLO 2021-2 Ltd                                                  | CUSIP: 87190MAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    266667 | PA      | $266676.75    | 0.04%             | 2034-07-25      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Theorem Funding Trust          | Theorem Funding Trust 2022-3                                        | CUSIP: 882925AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1400000 | PA      | $1436831.20   | 0.23%             | 2029-04-15      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2021-SJ2                                  | CUSIP: 89180LAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1392244.50   | 0.22%             | 2061-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T | Tricolor Auto Securitization Trust 2024-3                           | CUSIP: 89617AAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    595579 | PA      | $596271.02    | 0.10%             | 2028-06-15      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS       | Univision Communications Inc                                        | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    600000 | PA      | $581156.64    | 0.09%             | 2027-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust     | Upstart Pass-Through Trust Series 2021-ST4                          | CUSIP: 91534HAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    755388 | PA      | $747219.21    | 0.12%             | 2027-07-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust     | Upstart Pass-Through Trust Series 2020-ST6                          | CUSIP: 91680XAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7191 | PA      | $7178.73      | 0.00%             | 2027-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2024-2PL                                             | CUSIP: 00092HAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1262880 | PA      | $1264910.05   | 0.20%             | 2031-10-27      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                  | Aircastle Ltd                                                       | CUSIP: 00928QAT8<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    450000 | PA      | $449326.34    | 0.07%             | 2025-08-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Barings Middle Market CLO Ltd. | Barings Middle Market CLO Ltd 2021-I                                | CUSIP: 06760WAA4<br>LEI: 549300NSFWDKJE15UK02 | Long             | ABS-CBDO         | CORP              | KY        |    285714 | PA      | $285709.37    | 0.05%             | 2033-07-20      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT               | Bellemeade Re 2023-1 Ltd                                            | CUSIP: 07876XAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    300000 | PA      | $310192.80    | 0.05%             | 2033-10-25      | Floating      | 8.60%                 | No            |                  2 | On Loan: No      |
| BOEING CO                      | Boeing Co/The                                                       | CUSIP: 097023DA0<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1720559.63   | 0.27%             | 2026-02-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | CSMC 2022-ATH1                                                      | CUSIP: 12660BAM3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1839673 | PA      | $1785196.87   | 0.28%             | 2067-01-25      | Variable      | 2.87%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BRQJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1341367 | PA      | $1316723.61   | 0.21%             | 2026-07-25      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd         | Canyon CLO 2018-1 Ltd                                               | CUSIP: 13877BAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5460134 | PA      | $5460996.61   | 0.87%             | 2031-07-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F8ZR7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     98921 | PA      | $97700.03     | 0.02%             | 2030-12-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FLYR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    577647 | PA      | $575806.89    | 0.09%             | 2026-04-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H1LN4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4322867 | PA      | $4257527.29   | 0.68%             | 2031-06-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H5Y35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1024494 | PA      | $1021618.70   | 0.16%             | 2029-01-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Lobel Automobile Receivables T | Lobel Automobile Receivables Trust 2023-2                           | CUSIP: 53949FAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3133102.50   | 0.50%             | 2029-06-15      | Fixed         | 10.04%                | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BSP72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5500000 | PA      | $5392304.50   | 0.86%             | 2026-08-25      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Reach Financial LLC            | LL ABS Trust 2021-1                                                 | CUSIP: 53934QAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    457266 | PA      | $454331.55    | 0.07%             | 2029-05-15      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| PVH CORP                       | PVH Corp                                                            | CUSIP: 693656AC4<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | DBT              | CORP              | US        |    600000 | PA      | $600277.13    | 0.10%             | 2025-07-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Luxury Lease Partners Auto Lea | Luxury Lease Partners Auto Lease Trust 2024-4                       | CUSIP: 55068XAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    384797 | PA      | $386697.49    | 0.06%             | 2030-07-15      | Fixed         | 7.29%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                     | Mattel Inc                                                          | CUSIP: 577081BE1<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1669349.00   | 0.27%             | 2026-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2023-1PL                                             | CUSIP: 00091XAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3084525 | PA      | $3128878.11   | 0.50%             | 2030-03-18      | Fixed         | 8.47%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2024-1PL                                             | CUSIP: 00092BAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    645092 | PA      | $650590.41    | 0.10%             | 2031-04-25      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust   | METLIFE SECURITIZATION TRUST 2020-1                                 | CUSIP: 59166CAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1497332 | PA      | $1329021.82   | 0.21%             | 2050-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Mission Lane Credit Card Maste | Mission Lane Credit Card Master Trust                               | CUSIP: 60510MBK3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1508576.70   | 0.24%             | 2030-05-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Momnt Technologies Trust       | Momnt Technologies Trust 2023-1                                     | CUSIP: 608934AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    605552 | PA      | $605345.12    | 0.10%             | 2045-03-20      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO           | National Fuel Gas Co                                                | CUSIP: 636180BS9<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1719975.97   | 0.27%             | 2026-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se | Natixis Commercial Mortgage Securities Trust 2019-MILE              | CUSIP: 63875FAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    848857 | PA      | $798413.94    | 0.13%             | 2036-07-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC              | Nexstar Media Inc                                                   | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    450000 | PA      | $446189.02    | 0.07%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    450000 | PA      | $431187.89    | 0.07%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC            | Oportun Issuance Trust 2024-2                                       | CUSIP: 68377KAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $502202.90    | 0.08%             | 2032-02-09      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2024-2PL                                             | CUSIP: 00092HAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    670542 | PA      | $673287.23    | 0.11%             | 2031-10-27      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS Trust 2024-3AL                                             | CUSIP: 00092KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1364932 | PA      | $1365493.55   | 0.22%             | 2031-12-26      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                 | Owens-Brockway Glass Container Inc                                  | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    300000 | PA      | $299604.21    | 0.05%             | 2027-05-13      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC             | PBF Holding Co LLC / PBF Finance Corp                               | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $530151.23    | 0.08%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2024-2                                         | CUSIP: 694961AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4221054 | PA      | $4266330.46   | 0.68%             | 2031-08-15      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-3                                 | CUSIP: 69544TAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1004896.00   | 0.16%             | 2032-12-15      | Fixed         | 6.06%                 | No            |                  2 | On Loan: No      |
| Upstart Structured Pass-Throug | Upstart Structured Pass-Through Trust Series 2022-4A                | CUSIP: 91680YBE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1329407 | PA      | $1340324.40   | 0.21%             | 2030-11-15      | Fixed         | 8.54%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya Ai Debt Grantor Trust 2024-9                                 | CUSIP: 69546QAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    999847 | PA      | $998598.55    | 0.16%             | 2032-03-15      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Selection Trust 2021-HG1                             | CUSIP: 69547PAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    555382 | PA      | $543838.50    | 0.09%             | 2029-01-16      | Fixed         | 1.82%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust     | Upstart Pass-Through Trust Series 2022-ST3                          | CUSIP: 91681EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    397906 | PA      | $393446.88    | 0.06%             | 2030-05-20      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust   | Upstart Securitization Trust 2021-1                                 | CUSIP: 91681NAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    113898 | PA      | $113558.43    | 0.02%             | 2031-03-20      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor A | Research-Driven Pagaya Motor Asset Trust 2023-4                     | CUSIP: 76088UAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    894940 | PA      | $903716.30    | 0.14%             | 2032-03-25      | Fixed         | 7.54%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential  | Starwood Mortgage Residential Trust 2020-INV                        | CUSIP: 85573EAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1175389 | PA      | $1129796.61   | 0.18%             | 2055-11-25      | Variable      | 1.59%                 | No            |                  2 | On Loan: No      |
| N/A                            | ERIS SOFR 3yr     Sep22                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -166 | NC      | $173934.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                                                   | CUSIP: 04010LBE2<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1182225.23   | 0.19%             | 2027-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC            | Ashtead Capital Inc                                                 | CUSIP: 045054AN3<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1684942.33   | 0.27%             | 2026-08-12      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Avid Automobile Receivables Tr | Avid Automobile Receivables Trust 2023-1                            | CUSIP: 05368QAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    869284 | PA      | $870375.79    | 0.14%             | 2027-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Avid Automobile Receivables Tr | Avid Automobile Receivables Trust 2021-1                            | CUSIP: 05369LAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118413 | PA      | $118216.64    | 0.02%             | 2028-04-17      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA               | Beazer Homes USA Inc                                                | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    600000 | PA      | $586718.82    | 0.09%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                       | BXP Trust 2017-CQHP                                                 | CUSIP: 12433QAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    688679 | PA      | $672961.52    | 0.11%             | 2034-11-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd         | Canyon Capital CLO 2016-1 Ltd                                       | CUSIP: 13887PAK1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2664198 | PA      | $2664400.21   | 0.43%             | 2031-07-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2021-N2                              | CUSIP: 14686KAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    841984 | PA      | $815408.34    | 0.13%             | 2028-03-10      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp | AMMC CLO XII Ltd                                                    | CUSIP: 00176CAQ4<br>LEI: 549300YZO1X7UK2OVY35 | Long             | ABS-CBDO         | CORP              | KY        |    943077 | PA      | $943071.21    | 0.15%             | 2030-11-10      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| AMCR ABS Trust                 | AMCR ABS TRUST 2024-A                                               | CUSIP: 00178EAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2625774 | PA      | $2635554.11   | 0.42%             | 2031-08-18      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2023-B                            | CUSIP: 00792FAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1209511.68   | 0.19%             | 2028-09-15      | Fixed         | 7.44%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | CSMC Trust 2017-PFHP                                                | CUSIP: 12595KAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    579675 | PA      | $564274.12    | 0.09%             | 2030-12-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2022-D                                   | CUSIP: 12663UAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2900000 | PA      | $3040332.74   | 0.49%             | 2029-01-16      | Fixed         | 8.73%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2021-N3                              | CUSIP: 14687GAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    569204 | PA      | $547989.39    | 0.09%             | 2028-06-12      | Fixed         | 1.02%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2020-NP1                             | CUSIP: 14687PAJ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    906131 | PA      | $903440.19    | 0.14%             | 2027-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi | Carlyle Global Market Strategies CLO 2014-5 Ltd                     | CUSIP: 14311AAS1<br>LEI: 549300ODZUR61VZRRZ07 | Long             | ABS-CBDO         | CORP              | KY        |   3142380 | PA      | $3142634.67   | 0.50%             | 2031-07-15      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Cathedral Lake LTD             | Cathedral Lake VI Ltd                                               | CUSIP: 14919LAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    842105 | PA      | $842205.41    | 0.13%             | 2034-04-25      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Churchill Middle Market CLO Lt | Churchill NCDLC CLO-II LLC                                          | CUSIP: 17151LAA2<br>LEI: 254900966GVHITXUEY28 | Long             | ABS-CBDO         | CORP              | US        |    857143 | PA      | $858125.13    | 0.14%             | 2036-01-20      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC            | Delta Air Lines Inc                                                 | CUSIP: 247361ZZ4<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1724221.60   | 0.28%             | 2026-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC          | Directv Financing LLC / Directv Financing Co-Obligor Inc            | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $580433.23    | 0.09%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2022-3                          | CUSIP: 30166YAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6082369.20   | 0.97%             | 2028-09-15      | Fixed         | 6.76%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank   | Huntington Bank Auto Credit-Linked Notes Series 2024-1              | CUSIP: 44644NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    321958 | PA      | $326131.65    | 0.05%             | 2032-05-20      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST        | Starwood Property Trust Inc                                         | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294536.70    | 0.05%             | 2027-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd              | Elevation Clo 2021-13 Ltd                                           | CUSIP: 28622EAA6<br>LEI: 549300YZ3RIOTSOP0V95 | Long             | ABS-CBDO         | CORP              | KY        |    200000 | PA      | $199982.80    | 0.03%             | 2034-07-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                                                           | CUSIP: 29336UAF4<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    600000 | PA      | $600083.88    | 0.10%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Freedom Financial              | FREED ABS Trust 2021-3FP                                            | CUSIP: 30322MAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     67758 | PA      | $67311.20     | 0.01%             | 2028-11-20      | Fixed         | 2.37%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F8RQ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2587991 | PA      | $2562548.51   | 0.41%             | 2030-11-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| FMC CORP                       | FMC Corp                                                            | CUSIP: 302491AW5<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1752591.00   | 0.28%             | 2026-05-18      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BLAC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1072458 | PA      | $1070270.80   | 0.17%             | 2025-06-25      | Variable      | 3.28%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F9Z46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    988313 | PA      | $973614.64    | 0.16%             | 2030-12-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F9ZZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4687394 | PA      | $4661008.39   | 0.74%             | 2027-11-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BPW21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5746340 | PA      | $5665512.02   | 0.90%             | 2026-03-25      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F73D5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    658690 | PA      | $656190.77    | 0.10%             | 2027-10-25      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FFNQ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    297451 | PA      | $292640.23    | 0.05%             | 2031-01-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FRE98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14649 | PA      | $14593.73     | 0.00%             | 2027-01-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Arivo Acceptance Auto Loan Rec | Arivo Acceptance Auto Loan Receivables Trust 2022-2                 | CUSIP: 04047JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    189682 | PA      | $191300.51    | 0.03%             | 2029-01-16      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD       | Avolon Holdings Funding Ltd                                         | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1100000 | PA      | $1134671.76   | 0.18%             | 2028-05-04      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus | BRAVO Residential Funding Trust 2023-NQM2                           | CUSIP: 105933AC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    811056 | PA      | $803447.33    | 0.13%             | 2062-05-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F84A8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2024457 | PA      | $2015735.18   | 0.32%             | 2030-11-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F9CM1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5105369 | PA      | $5050598.62   | 0.81%             | 2030-12-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                     | Cabot Corp                                                          | CUSIP: 127055AK7<br>LEI: K05C0SER542GQ6VLRO68 | Long             | DBT              | CORP              | US        |    700000 | PA      | $690417.28    | 0.11%             | 2026-09-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H3KE1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1597810 | PA      | $1583232.94   | 0.25%             | 2028-09-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FEJN1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2114307 | PA      | $2107592.39   | 0.34%             | 2028-01-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FMUT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    276633 | PA      | $275662.01    | 0.04%             | 2026-06-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137HKXG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5000000 | PA      | $5006250.00   | 0.80%             | 2032-01-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC       | FHF Trust 2022-2                                                    | CUSIP: 31568EAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    196389 | PA      | $197247.16    | 0.03%             | 2027-12-15      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANK NA            | Fifth Third Bank NA                                                 | CUSIP: 31677AAB0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |    750000 | PA      | $743024.40    | 0.12%             | 2026-03-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L       | First Quantum Minerals Ltd                                          | CUSIP: 335934AT2<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    600000 | PA      | $593238.06    | 0.09%             | 2027-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FNXA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1038607 | PA      | $1043981.64   | 0.17%             | 2029-08-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FPHF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3037907 | PA      | $3045019.16   | 0.49%             | 2026-07-25      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust     | Flagship Credit Auto Trust 2021-3                                   | CUSIP: 33846QAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    193000 | PA      | $184049.10    | 0.03%             | 2027-09-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| FLEX LTD                       | Flex Ltd                                                            | CUSIP: 33938EAU1<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $199918.87    | 0.03%             | 2025-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FREP2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    530402 | PA      | $531502.63    | 0.08%             | 2029-12-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FUZS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    916078 | PA      | $914951.11    | 0.15%             | 2027-06-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FWGC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1406322 | PA      | $1410499.71   | 0.23%             | 2030-07-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FXLS5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1152940 | PA      | $1151421.70   | 0.18%             | 2027-08-25      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H2NK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3589527 | PA      | $3555477.15   | 0.57%             | 2028-08-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H3K84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2217364 | PA      | $2205376.88   | 0.35%             | 2031-09-25      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137HA3Y0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    950536 | PA      | $957081.75    | 0.15%             | 2030-02-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2022-DNA6                             | CUSIP: 35564KH44<br>LEI: 5493000IS30HKV5IAS29 | Long             | ABS-MBS          | CORP              | US        |   1016000 | PA      | $1063046.90   | 0.17%             | 2042-09-25      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2025-DNA1                             | CUSIP: 35564NFY4<br>LEI: 529900WZAMS87JCAOC53 | Long             | ABS-MBS          | CORP              | US        |    637500 | PA      | $634108.50    | 0.10%             | 2045-01-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| GATX CORP                      | GATX Corp                                                           | CUSIP: 361448AY9<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    600000 | PA      | $589077.74    | 0.09%             | 2026-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GATX CORP                      | GATX Corp                                                           | CUSIP: 361448BA0<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1070778.59   | 0.17%             | 2028-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD        | Global Aircraft Leasing Co Ltd                                      | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    600000 | PA      | $598576.26    | 0.10%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2022-DNA4                             | CUSIP: 35564KWT2<br>LEI: 5493000IS4CDPWRMWB65 | Long             | ABS-MBS          | CORP              | US        |   3225000 | PA      | $3342048.15   | 0.53%             | 2042-05-25      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac Stacr Remic Trust 2025-Hqa1                             | CUSIP: 35564NGY3<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | CORP              | US        |   1996875 | PA      | $1989374.74   | 0.32%             | 2045-02-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FYTS5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5150812 | PA      | $5128905.24   | 0.82%             | 2031-02-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H6MJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3647951 | PA      | $3632513.05   | 0.58%             | 2029-02-25      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H7KA0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    690694 | PA      | $689614.29    | 0.11%             | 2029-05-25      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2022-HQA2                             | CUSIP: 35564KB32<br>LEI: 5493000IRLADKYZNON28 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1053816.00   | 0.17%             | 2042-07-25      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2022-DNA3                             | CUSIP: 35564KUX5<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |   3111000 | PA      | $3197140.48   | 0.51%             | 2042-04-25      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac Stacr Remic Trust 2025-Hqa1                             | CUSIP: 35564NGZ0<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | CORP              | US        |   1238660 | PA      | $1246023.10   | 0.20%             | 2045-02-25      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| LJV I MM CLO LLC               | LJV I MM CLO LLC                                                    | CUSIP: 50203VAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2666763 | PA      | $2670808.52   | 0.43%             | 2034-04-28      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                                    | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1553398.03   | 0.25%             | 2027-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust             | A&D Mortgage Trust 2025-NQM1                                        | CUSIP: 00250DAE8<br>LEI: 984500CE0D9FE0NM4277 | Long             | ABS-MBS          | CORP              | US        |   2474691 | PA      | $2502816.24   | 0.40%             | 2070-03-25      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2021-PJ9                        | CUSIP: 36263CAH2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7057260 | PA      | $6190974.02   | 0.99%             | 2052-02-26      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2022-3                            | CUSIP: 38014QAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $2641162.68   | 0.42%             | 2028-06-15      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| ACREC 2021-FL1 Ltd.            | ACREC 2021-FL1 Ltd                                                  | CUSIP: 00500RAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    370000 | PA      | $369659.97    | 0.06%             | 2036-10-16      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                     | Affirm Asset Securitization Trust 2023-X1                           | CUSIP: 00834KAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    449864 | PA      | $450637.78    | 0.07%             | 2028-11-15      | Fixed         | 7.77%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                     | goeasy Ltd                                                          | CUSIP: 380355AF4<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    274000 | PA      | $270237.13    | 0.04%             | 2026-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Greenwood Park CLO, Ltd        | Greenwood Park CLO Ltd                                              | CUSIP: 39729RAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    960005 | PA      | $959989.72    | 0.15%             | 2031-04-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| HPS Loan Management Ltd        | HPS Loan Management 11-2017 Ltd                                     | CUSIP: 40436VAG6<br>LEI: 549300Z5U2GIJ32SH058 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3999980.00   | 0.64%             | 2030-05-06      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT         | HAT Holdings I LLC / HAT Holdings II LLC                            | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1699050.50   | 0.27%             | 2026-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                  | Aircastle Ltd                                                       | CUSIP: 00928QAU5<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $1180098.65   | 0.19%             | 2028-01-26      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec | American Credit Acceptance Receivables Trust 2023-4                 | CUSIP: 02530CAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2026242.00   | 0.32%             | 2030-09-12      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                 | Apidos CLO XXXI                                                     | CUSIP: 03767VAG3<br>LEI: 549300IG6PHVJ3WBR394 | Long             | ABS-CBDO         | CORP              | KY        |   2703874 | PA      | $2703852.53   | 0.43%             | 2031-04-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Arivo Acceptance Auto Loan Rec | Arivo Acceptance Auto Loan Receivables Trust 2022-1                 | CUSIP: 04047EAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    148939 | PA      | $148514.27    | 0.02%             | 2028-05-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC       | Lloyds Banking Group PLC                                            | CUSIP: 539439AM1<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    950000 | PA      | $947434.79    | 0.15%             | 2025-12-10      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust         | Marlette Funding Trust 2023-3                                       | CUSIP: 57109RAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3200000 | PA      | $3233416.32   | 0.52%             | 2033-09-15      | Fixed         | 7.06%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership            | LCM XIV LP                                                          | CUSIP: 50184VAR5<br>LEI: 549300NGJ6CPPJRPGL08 | Long             | ABS-CBDO         | CORP              | KY        |    434652 | PA      | $434632.80    | 0.07%             | 2031-07-20      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust  | Lendbuzz Securitization Trust 2023-1                                | CUSIP: 52608LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    392296 | PA      | $398424.80    | 0.06%             | 2028-08-15      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| ARROW ELECTRONICS INC          | Arrow Electronics Inc                                               | CUSIP: 042735BF6<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1664831.51   | 0.27%             | 2028-01-12      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD       | Avolon Holdings Funding Ltd                                         | CUSIP: 05401AAR2<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $563438.62    | 0.09%             | 2027-11-18      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT               | Bellemeade Re Ltd                                                   | CUSIP: 078915AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   2375000 | PA      | $2383588.00   | 0.38%             | 2034-08-25      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR         | Blackstone Mortgage Trust Inc                                       | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |    600000 | PA      | $570818.16    | 0.09%             | 2027-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GCAT                           | GCAT 2021-NQM2 Trust                                                | CUSIP: 36166XAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1178570 | PA      | $1028380.92   | 0.16%             | 2066-05-25      | Variable      | 1.24%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Trust 2022-GR2                        | CUSIP: 36250BAR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    806002 | PA      | $817048.76    | 0.13%             | 2044-07-25      | Variable      | 6.84%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus | BRAVO Residential Funding Trust 2024-NQM4                           | CUSIP: 10568NAA0<br>LEI: 254900NOKQW417VKV943 | Long             | ABS-MBS          | CORP              | US        |    926072 | PA      | $914906.28    | 0.15%             | 2060-01-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust | CFMT 2021-GRN1 Issuer Trust                                         | CUSIP: 12529KAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    288890 | PA      | $285170.30    | 0.05%             | 2041-03-20      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust | CFMT 2024-NR1 LLC                                                   | CUSIP: 12531DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    944752 | PA      | $960880.55    | 0.15%             | 2029-11-25      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2023-D                                   | CUSIP: 12598VAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2098509.20   | 0.33%             | 2030-01-15      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust   | CSMC Series 2019-NQM1                                               | CUSIP: 12655VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    523177 | PA      | $514034.39    | 0.08%             | 2059-10-25      | Variable      | 3.66%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2021-N2                              | CUSIP: 14686KAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    249913 | PA      | $241950.10    | 0.04%             | 2028-03-10      | Fixed         | 1.07%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                 | NRG Energy Inc                                                      | CUSIP: 629377CN0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1079838.49   | 0.17%             | 2025-12-02      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2022-NQM4                       | CUSIP: 64831UAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    930241 | PA      | $916292.16    | 0.15%             | 2062-06-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust   | GS Mortgage Securities Corp Trust 2018-TWR                          | CUSIP: 36251SAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    775000 | PA      | $367667.48    | 0.06%             | 2031-07-15      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| GMRF Mortgage Acquisition Co., | Galton Funding Mortgage Trust 2017-1                                | CUSIP: 36416UAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     34281 | PA      | $31284.10     | 0.00%             | 2056-07-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC       | Lloyds Banking Group PLC                                            | CUSIP: 53944YAB9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $249245.89    | 0.04%             | 2026-03-24      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Lobel Automobile Receivables T | Lobel Automobile Receivables Trust 2023-1                           | CUSIP: 53946XAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2031411.20   | 0.32%             | 2028-10-16      | Fixed         | 8.31%                 | No            |                  2 | On Loan: No      |
| HARLEY-DAVIDSON FINL SER       | Harley-Davidson Financial Services Inc                              | CUSIP: 41283LAY1<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |    550000 | PA      | $548592.86    | 0.09%             | 2025-06-08      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| HEXCEL CORP                    | Hexcel Corp                                                         | CUSIP: 428291AN8<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1675902.82   | 0.27%             | 2027-02-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP       | Host Hotels & Resorts LP                                            | CUSIP: 44107TAW6<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              | CORP              | US        |    950000 | PA      | $947020.73    | 0.15%             | 2026-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP              | Hyatt Hotels Corp                                                   | CUSIP: 448579AF9<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300159.75    | 0.05%             | 2026-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC              | Imperial Fund Mortgage Trust 2021-NQM1                              | CUSIP: 452764AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1018269 | PA      | $899151.85    | 0.14%             | 2056-06-25      | Variable      | 1.62%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2023-HE1                                   | CUSIP: 46656UAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    436787 | PA      | $449128.55    | 0.07%             | 2053-11-25      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC              | Kinder Morgan Inc                                                   | CUSIP: 49456BAF8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    260000 | PA      | $259818.82    | 0.04%             | 2025-06-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Lake Shore MM CLO LLC          | Lake Shore MM CLO II Ltd                                            | CUSIP: 510760AL5<br>LEI: 5493004NSSTVWDFT9W29 | Long             | ABS-CBDO         | CORP              | KY        |   1271096 | PA      | $1269893.66   | 0.20%             | 2031-10-17      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| LendingPoint Asset Securitizat | Lendingpoint 2022-B Asset Securitization Trust                      | CUSIP: 52606WAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1517 | PA      | $1516.46      | 0.00%             | 2029-10-15      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-RCF1 LLC                                                  | CUSIP: 693581AC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $465597.00    | 0.07%             | 2054-01-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga | MF1 2021-FL7 Ltd                                                    | CUSIP: 55284AAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2010000 | PA      | $2001242.43   | 0.32%             | 2036-10-16      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                     | MFA 2023-NQM4 Trust                                                 | CUSIP: 55286LAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    708427 | PA      | $725905.01    | 0.12%             | 2068-12-25      | Variable      | 6.78%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2021-N1                              | CUSIP: 14687DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    597949 | PA      | $582639.12    | 0.09%             | 2028-01-10      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| ClickLease Equipment Receivabl | ClickLease Equipment Receivables 2024-1 Trust                       | CUSIP: 18682FAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    121736 | PA      | $121867.45    | 0.02%             | 2030-02-15      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg | Saluda Grade Alternative Mortgage Trust 2021-MF1                    | CUSIP: 79582KAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2780517 | PA      | $2831002.61   | 0.45%             | 2029-11-25      | Variable      | 2.81%                 | No            |                  2 | On Loan: No      |
| Steele Creek CLO Ltd           | Steele Creek CLO 2014-1 Ltd                                         | CUSIP: 85816WAE4<br>LEI: 549300ZMV389HVGL0K94 | Long             | ABS-CBDO         | CORP              | KY        |   4218456 | PA      | $4217055.31   | 0.67%             | 2031-04-21      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Steele Creek CLO Ltd           | Steele Creek CLO 2019-1 LTD                                         | CUSIP: 85817BAQ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1788925 | PA      | $1786083.81   | 0.29%             | 2032-04-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| STRIKE ACCEPTANCE AUTO FUNDING | Strike Acceptance Auto Funding Trust 2025-1                         | CUSIP: 86332RAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1931473 | PA      | $1929371.62   | 0.31%             | 2032-04-15      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT Funding LLC                                                    | CUSIP: 19688DAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    507963 | PA      | $457344.18    | 0.07%             | 2064-12-25      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2025-R02                        | CUSIP: 20754TAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    991886 | PA      | $988626.09    | 0.16%             | 2045-02-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust         | Marlette Funding Trust 2023-1                                       | CUSIP: 57110PAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2018449.20   | 0.32%             | 2033-04-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                     | NMLT 2021-INV1 Trust                                                | CUSIP: 62923JAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1174890 | PA      | $1032842.00   | 0.16%             | 2056-05-25      | Variable      | 1.80%                 | No            |                  2 | On Loan: No      |
| TOLL BROS FINANCE CORP         | Toll Brothers Finance Corp                                          | CUSIP: 88947EAS9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    930000 | PA      | $931602.35    | 0.15%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust   | Upstart Securitization Trust 2023-2                                 | CUSIP: 91683VAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     88921 | PA      | $89060.00     | 0.01%             | 2033-06-20      | Fixed         | 6.77%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust   | Upstart Securitization Trust 2025-1                                 | CUSIP: 91684PAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $998995.00    | 0.16%             | 2035-04-20      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Lo | Velocity Commercial Capital Loan Trust 2021-3                       | CUSIP: 92258RAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1837079 | PA      | $1582869.36   | 0.25%             | 2051-10-25      | Variable      | 1.96%                 | No            |                  2 | On Loan: No      |
| Enva 2018-A, LLC               | NetCredit Combined Receivables 2024 LLC                             | CUSIP: 64113EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    136183 | PA      | $138029.91    | 0.02%             | 2030-10-21      | Fixed         | 7.43%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan  | New Residential Mortgage Loan Trust 2021-INV1                       | CUSIP: 64829WAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1965986 | PA      | $1790758.12   | 0.29%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING        | DCP Midstream Operating LP                                          | CUSIP: 23311VAG2<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    126000 | PA      | $126028.83    | 0.02%             | 2025-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| EQT CORP                       | EQT Corp                                                            | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    896000 | PA      | $879164.10    | 0.14%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EQT CORP                       | EQT Corp                                                            | CUSIP: 26884LAM1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    550000 | PA      | $539481.64    | 0.09%             | 2026-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP             | Energy Transfer LP                                                  | CUSIP: 29278NAP8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    600000 | PA      | $599530.65    | 0.10%             | 2025-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                       | OZLM XXIV Ltd                                                       | CUSIP: 67113DAW4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2963177 | PA      | $2960850.47   | 0.47%             | 2032-07-20      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2021-NQM1 Trust                                                 | CUSIP: 67114BAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3660726 | PA      | $3206953.40   | 0.51%             | 2066-02-25      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                                                           | CUSIP: 29336UAE7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    450000 | PA      | $449488.94    | 0.07%             | 2025-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| FTAI INFRA ESC HLDGS LLC       | FTAI Infra Escrow Holdings LLC                                      | CUSIP: 30327TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $675241.45    | 0.11%             | 2027-06-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2024-NQM2 Trust                                                 | CUSIP: 67118HAD2<br>LEI: 254900OHTVKDKZL33I54 | Long             | ABS-MBS          | CORP              | US        |   1131044 | PA      | $1137451.24   | 0.18%             | 2063-12-25      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2025-NQM4 Trust                                                 | CUSIP: 67120QAC0<br>LEI: 254900IAVXYLOCPK6W54 | Long             | ABS-MBS          | CORP              | US        |   2927345 | PA      | $2956908.28   | 0.47%             | 2055-02-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BMTX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1841747 | PA      | $1829748.30   | 0.29%             | 2025-11-25      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BSRE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3420000 | PA      | $3374941.50   | 0.54%             | 2026-09-25      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust       | Octane Receivables Trust 2022-2                                     | CUSIP: 67578XAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3098002.80   | 0.49%             | 2030-02-20      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC                    | Ovintiv Inc                                                         | CUSIP: 69047QAA0<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    450000 | PA      | $449836.22    | 0.07%             | 2025-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC         | Pacific Gas and Electric Co                                         | CUSIP: 694308JP3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1728462.73   | 0.28%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-11                                | CUSIP: 69544AAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4999426 | PA      | $5014078.01   | 0.80%             | 2032-07-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-11                                | CUSIP: 69544AAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    999885 | PA      | $1003438.93   | 0.16%             | 2032-07-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-10                                | CUSIP: 69544MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1999831 | PA      | $2006903.97   | 0.32%             | 2032-06-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-1                                 | CUSIP: 69544NAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1004657.00   | 0.16%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-1                                 | CUSIP: 69544NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $999708.90    | 0.16%             | 2032-07-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2023-5                                         | CUSIP: 69546PAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    363794 | PA      | $364112.79    | 0.06%             | 2031-04-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2024-6 And Pagaya AI Debt Trust 2024-6 | CUSIP: 69548KAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1559147 | PA      | $1576877.42   | 0.25%             | 2031-11-15      | Fixed         | 6.59%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BUX60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    200000 | PA      | $197674.20    | 0.03%             | 2026-12-25      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                                  | CUSIP: 3137F9YS4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    764281 | PA      | $752943.78    | 0.12%             | 2035-09-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2023-7                                         | CUSIP: 69548RAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1249534 | PA      | $1263076.57   | 0.20%             | 2031-07-15      | Fixed         | 8.80%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd               | Symphony CLO XV Ltd                                                 | CUSIP: 87154EBE9<br>LEI: 549300JNP1PJXORD0Y06 | Long             | ABS-CBDO         | CORP              | KY        |   8664211 | PA      | $8664175.96   | 1.38%             | 2032-01-17      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance        | TRTX 2022-FL5 Issuer Ltd                                            | CUSIP: 87277JAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $998666.00    | 0.16%             | 2039-02-15      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| USASF Receivables LLC          | US Auto Funding Trust 2022-1                                        | CUSIP: 90355FAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $317002.35    | 0.05%             | 2025-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| United Auto Credit Securitizat | United Auto Credit Securitization Trust 2025-1                      | CUSIP: 90945JAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3504011.00   | 0.56%             | 2028-02-10      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust   | Upstart Securitization Trust 2021-3                                 | CUSIP: 91679LAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    487347 | PA      | $481201.33    | 0.08%             | 2031-07-20      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust     | Upstart Pass-Through Trust Series 2021-ST1                          | CUSIP: 91681MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    112625 | PA      | $112277.80    | 0.02%             | 2027-02-20      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust     | Upstart Pass-Through Trust Series 2022-ST1                          | CUSIP: 91683NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     72300 | PA      | $72173.98     | 0.01%             | 2030-03-20      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust        | Flagstar Mortgage Trust 2018-6RR                                    | CUSIP: 33851FAB3<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |    844358 | PA      | $802004.53    | 0.13%             | 2048-10-25      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                                            | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1556564.51   | 0.25%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN       | USA Compression Partners LP / USA Compression Finance Corp          | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $297744.03    | 0.05%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Lo | Velocity Commercial Capital Loan Trust 2021-4                       | CUSIP: 92258DAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    883160 | PA      | $763477.71    | 0.12%             | 2051-12-26      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| Freedom Financial              | FREED ABS Trust 2022-4FP                                            | CUSIP: 35634JAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2218618 | PA      | $2230030.28   | 0.36%             | 2029-12-18      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC            | Frontier Issuer LLC                                                 | CUSIP: 35910EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4065740.00   | 0.65%             | 2053-08-20      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Lo | Velocity Commercial Capital Loan Trust 2021-2                       | CUSIP: 92259MAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2711888 | PA      | $2362892.85   | 0.38%             | 2051-08-25      | Variable      | 1.52%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                | Venture 32 CLO Ltd                                                  | CUSIP: 92325QAA5<br>LEI: 549300UP09C89Q3HWD39 | Long             | ABS-CBDO         | CORP              | KY        |   2121928 | PA      | $2121913.44   | 0.34%             | 2031-07-18      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Veros Auto Receivables Trust   | Veros Auto Receivables Trust 2021-1                                 | CUSIP: 92512BAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    515701 | PA      | $512219.90    | 0.08%             | 2028-08-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2019-INV3                                | CUSIP: 92537MAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    428992 | PA      | $425990.42    | 0.07%             | 2059-11-25      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| GCAT                           | GCAT 2022-NQM4 Trust                                                | CUSIP: 36170HAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    572184 | PA      | $578142.59    | 0.09%             | 2067-08-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD               | GGAM Finance Ltd                                                    | CUSIP: 36170JAC0<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $256887.50    | 0.04%             | 2027-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Gallatin Loan Management, LLC  | Gallatin CLO VIII 2017-1 Ltd                                        | CUSIP: 36361UAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1205120 | PA      | $1204235.30   | 0.19%             | 2031-07-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO         | General Motors Financial Co Inc                                     | CUSIP: 37045XDH6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1579968.61   | 0.25%             | 2028-04-10      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Goldman Home Improvement Trust | Goldman Home Improvement Trust 2021-GRN2 Issuer Trust               | CUSIP: 38149XAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    595706 | PA      | $577190.58    | 0.09%             | 2051-06-25      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd               | Greywolf CLO III Ltd                                                | CUSIP: 39809CAY0<br>LEI: 5493002TWMA4NNPZ2B66 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3994512.00   | 0.64%             | 2033-04-22      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2021-4                                   | CUSIP: 92538HAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1372145 | PA      | $1153698.56   | 0.18%             | 2066-07-25      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE         | VICI Properties LP / VICI Note Co Inc                               | CUSIP: 92564RAH8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1573000 | PA      | $1566934.83   | 0.25%             | 2026-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust Series 2024-CES2                   | CUSIP: 92841YAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    448190 | PA      | $450663.69    | 0.07%             | 2054-10-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust   | WinWater Mortgage Loan Trust 2015-A                                 | CUSIP: 97653BAZ4<br>LEI: 549300XEB1FUZ3CHE748 | Long             | ABS-MBS          | CORP              | US        |   5108739 | PA      | $61320.19     | 0.01%             | 2045-06-20      | Variable      | 0.36%                 | No            |                  2 | On Loan: No      |
| HCA INC                        | HCA Inc                                                             | CUSIP: 404119CP2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1727751.38   | 0.28%             | 2028-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC    | Hertz Vehicle Financing III LLC                                     | CUSIP: 42806MBT5<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1004803.60   | 0.16%             | 2027-06-25      | Fixed         | 6.22%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO       | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl          | CUSIP: 46590XAZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    950000 | PA      | $960676.10    | 0.15%             | 2028-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2019-5                                     | CUSIP: 46591FAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    595209 | PA      | $569927.37    | 0.09%             | 2049-11-25      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| JABIL INC                      | Jabil Inc                                                           | CUSIP: 466313AL7<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |    400000 | PA      | $388721.55    | 0.06%             | 2026-04-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2019-6                                     | CUSIP: 46651BAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1079500 | PA      | $988094.07    | 0.16%             | 2049-12-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust       | JP Morgan Mortgage Trust 2019-LTV3                                  | CUSIP: 46651HAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     65267 | PA      | $64214.54     | 0.01%             | 2050-03-25      | Variable      | 3.49%                 | No            |                  2 | On Loan: No      |
| JUNIPER NETWORKS INC           | Juniper Networks Inc                                                | CUSIP: 48203RAN4<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | DBT              | CORP              | US        |    500000 | PA      | $490031.35    | 0.08%             | 2025-12-10      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| KREF 2021-FL2 Ltd              | KREF 2021-FL2 Ltd                                                   | CUSIP: 48275RAA5<br>LEI: 54930083ELM2GCMVTQ91 | Long             | ABS-CBDO         | CORP              | KY        |    244579 | PA      | $244168.10    | 0.04%             | 2039-02-15      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC               | LPL Holdings Inc                                                    | CUSIP: 50212YAJ3<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142745.07    | 0.02%             | 2027-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Lake Shore MM CLO LLC          | Lake Shore MM CLO II Ltd                                            | CUSIP: 510760AQ4<br>LEI: 5493004NSSTVWDFT9W29 | Long             | ABS-CBDO         | CORP              | KY        |   1550000 | PA      | $1552069.25   | 0.25%             | 2031-10-17      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| LendingPoint Asset Securitizat | Lendingpoint 2022-C Asset Securitization Trust                      | CUSIP: 525919AB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    679163 | PA      | $679226.27    | 0.11%             | 2030-02-15      | Fixed         | 7.46%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust  | Lendbuzz Securitization Trust 2023-3                                | CUSIP: 525931AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295459 | PA      | $302985.77    | 0.05%             | 2028-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust  | Lendbuzz Securitization Trust 2024-1                                | CUSIP: 525935AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    627365 | PA      | $632615.91    | 0.10%             | 2029-08-15      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| LendingPoint Pass-Through Trus | LendingPoint Pass-Through Trust Series 2022-ST1                     | CUSIP: 52607NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    108957 | PA      | $106830.04    | 0.02%             | 2028-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MAGNA INTERNATIONAL INC        | Magna International Inc                                             | CUSIP: 559222AX2<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | DBT              | CORP              | CA        |    512000 | PA      | $512017.39    | 0.08%             | 2026-03-21      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Accepta | Mello Mortgage Capital Acceptance 2021-MTG2                         | CUSIP: 585494AK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3190831 | PA      | $2824446.99   | 0.45%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP            | Meritage Homes Corp                                                 | CUSIP: 59001ABA9<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1716491.70   | 0.27%             | 2027-06-06      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                  | Methanex Corp                                                       | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $343870.17    | 0.05%             | 2027-10-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust       | Mill City Mortgage Loan Trust 2021-NMR1                             | CUSIP: 59982HAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    654916 | PA      | $633079.90    | 0.10%             | 2060-11-25      | Variable      | 1.12%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD            | NCL Corp Ltd                                                        | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     76000 | PA      | $75670.48     | 0.01%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                 | NRG Energy Inc                                                      | CUSIP: 629377CP5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    600000 | PA      | $565798.00    | 0.09%             | 2027-12-02      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Newark BSL CLO 1 Ltd.          | Newark BSL CLO 1 Ltd                                                | CUSIP: 65023TAK8<br>LEI: 549300R0C043JWD1XY94 | Long             | ABS-CBDO         | CORP              | KY        |   3595000 | PA      | $3595568.01   | 0.57%             | 2029-12-21      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC                    | Ovintiv Inc                                                         | CUSIP: 651290AR9<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1800329.54   | 0.29%             | 2026-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2025-NQM7 Trust                                                 | CUSIP: 67121DAC8<br>LEI: 2549008GB179CC65SK60 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1517853.00   | 0.24%             | 2055-05-25      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XV | Octagon Investment Partners XVII Ltd                                | CUSIP: 67590GBL2<br>LEI: 54930007Y57X4ONHQV20 | Long             | ABS-CBDO         | CORP              | KY        |   2010000 | PA      | $2008810.08   | 0.32%             | 2031-01-25      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC            | Oportun Funding Trust 2024-3                                        | CUSIP: 68377NAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3004924.80   | 0.48%             | 2029-08-15      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-2                                 | CUSIP: 69545GAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1994277.60   | 0.32%             | 2032-10-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES        | Royal Caribbean Cruises Ltd                                         | CUSIP: 780153BH4<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1000000 | PA      | $987028.20    | 0.16%             | 2026-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION       | Sabine Pass Liquefaction LLC                                        | CUSIP: 785592AV8<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    535000 | PA      | $539733.89    | 0.09%             | 2026-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD            | Sound Point CLO IX Ltd                                              | CUSIP: 83609GBN4<br>LEI: 549300W2FX6HEXN27U70 | Long             | ABS-CBDO         | CORP              | KY        |   5891422 | PA      | $5894125.81   | 0.94%             | 2032-07-20      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN        | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp        | CUSIP: 87470LAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $395218.48    | 0.06%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust      | Towd Point Mortgage Trust 2019-HY3                                  | CUSIP: 89177XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    739903 | PA      | $745952.76    | 0.12%             | 2059-10-25      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| Visio Trust                    | Visio 2021-1R Trust                                                 | CUSIP: 92837UAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1123945 | PA      | $1049390.73   | 0.17%             | 2056-05-25      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2025-VTT                      | CUSIP: 94990GAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4013728.00   | 0.64%             | 2038-03-15      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2023-3PL                                             | CUSIP: 000876AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    169054 | PA      | $169525.06    | 0.03%             | 2030-08-19      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2024-1PL                                             | CUSIP: 00092BAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    990575 | PA      | $1001145.99   | 0.16%             | 2031-04-25      | Fixed         | 7.29%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                 | ACM Auto Trust 2023-2                                               | CUSIP: 00161AAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25027 | PA      | $25065.98     | 0.00%             | 2030-06-20      | Fixed         | 7.97%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                 | AutoNation Inc                                                      | CUSIP: 05329WAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $598407.47    | 0.10%             | 2025-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC               | Berry Global Inc                                                    | CUSIP: 08576PAH4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1657843.52   | 0.26%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| BLOCK FINANCIAL LLC            | Block Financial LLC                                                 | CUSIP: 093662AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $650466.21    | 0.10%             | 2025-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bunker Hill Loan Depositary Tr | Bunker Hill Loan Depositary Trust 2019-3                            | CUSIP: 12062BAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    443632 | PA      | $438901.63    | 0.07%             | 2059-11-25      | Variable      | 3.13%                 | No            |                  2 | On Loan: No      |
| CIM Trust                      | CIM Trust 2019-INV2                                                 | CUSIP: 12554TAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140484 | PA      | $134214.49    | 0.02%             | 2049-05-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2022-7 Mortgage Loan Trust                                     | CUSIP: 12663GAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    463920 | PA      | $465778.52    | 0.07%             | 2067-04-25      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS               | Connecticut Avenue Securities Trust 2023-R08                        | CUSIP: 20755CAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    499709 | PA      | $500177.94    | 0.08%             | 2043-10-25      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust            | DT Auto Owner Trust 2022-2                                          | CUSIP: 23345AAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5006697.00   | 0.80%             | 2028-03-15      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust            | DT Auto Owner Trust 2022-1                                          | CUSIP: 23345YAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1170000 | PA      | $1165219.15   | 0.19%             | 2029-03-15      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2020-3                          | CUSIP: 30166NAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1499806.05   | 0.24%             | 2027-06-15      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BN6G4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1901709 | PA      | $1885297.29   | 0.30%             | 2025-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BQYS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    984851 | PA      | $969158.66    | 0.15%             | 2026-05-25      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FV2G6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    529634 | PA      | $527725.54    | 0.08%             | 2030-06-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FXZA9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3683119 | PA      | $3663970.14   | 0.58%             | 2031-01-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H13Y0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1233575 | PA      | $1215367.11   | 0.19%             | 2031-05-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust     | Flagship Credit Auto Trust 2021-4                                   | CUSIP: 33845AAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    288000 | PA      | $273904.73    | 0.04%             | 2027-12-15      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust       | Foundation Finance Trust 2021-2                                     | CUSIP: 35042PAA8<br>LEI: 54930021B3TF4B4HKE86 | Long             | ABS-O            | CORP              | US        |    549830 | PA      | $515478.11    | 0.08%             | 2042-01-15      | Fixed         | 2.19%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP          | Freedom Mortgage Corp                                               | CUSIP: 35640YAJ6<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    600000 | PA      | $596112.36    | 0.10%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Corp Trust 2020-PJ2                   | CUSIP: 36262DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200387 | PA      | $180374.78    | 0.03%             | 2050-07-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities  | GS Mortgage-Backed Securities Corp Trust 2021-NQM1                  | CUSIP: 36262EAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1243916 | PA      | $1109931.02   | 0.18%             | 2061-07-25      | Variable      | 1.53%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES       | International Flavors & Fragrances Inc                              | CUSIP: 459506AN1<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |   1735000 | PA      | $1703977.71   | 0.27%             | 2025-10-01      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor | JP Morgan Chase Commercial Mortgage Securities Trust 2018-PTC       | CUSIP: 46649GAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1253000 | PA      | $669579.39    | 0.11%             | 2031-04-15      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN       | Jefferson Capital Holdings LLC                                      | CUSIP: 472481AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $219079.30    | 0.03%             | 2026-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust         | Marlette Funding Trust 2023-1                                       | CUSIP: 57110PAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    611237 | PA      | $612555.89    | 0.10%             | 2033-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd       | Neuberger Berman Loan Advisers Clo 40 Ltd                           | CUSIP: 64134JAA1<br>LEI: 549300Y2YE54ON4DJE28 | Long             | ABS-CBDO         | CORP              | KY        |   2948338 | PA      | $2948329.02   | 0.47%             | 2033-04-16      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP            | NOVA Chemicals Corp                                                 | CUSIP: 66977WAP4<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    650000 | PA      | $650000.00    | 0.10%             | 2025-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Continental Finance Credit Cre | Continental Finance Credit Card ABS Master Trust                    | CUSIP: 66981PAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    609477 | PA      | $607969.50    | 0.10%             | 2029-12-17      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR       | Occidental Petroleum Corp                                           | CUSIP: 674599CR4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    950000 | PA      | $930811.81    | 0.15%             | 2026-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2024-3                                         | CUSIP: 69547XAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3605537 | PA      | $3643653.12   | 0.58%             | 2031-10-15      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2022-5                                         | CUSIP: 69548HAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    633232 | PA      | $636439.15    | 0.10%             | 2030-06-17      | Fixed         | 8.10%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC                | Rolls-Royce PLC                                                     | CUSIP: 77578JAB4<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |   1750000 | PA      | $1742235.60   | 0.28%             | 2025-10-14      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SILGAN HOLDINGS INC            | Silgan Holdings Inc                                                 | CUSIP: 827048AX7<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1688074.50   | 0.27%             | 2026-04-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                     | Sprint LLC                                                          | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1732605.41   | 0.28%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| N/A                            | ERIS SOFR 4yr     Dec22                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -213 | NC      | $218367.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ACHV ABS TRUST                 | ACHV ABS TRUST 2023-3PL                                             | CUSIP: 000876AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3200000 | PA      | $3258656.00   | 0.52%             | 2030-08-19      | Fixed         | 8.36%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                   | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    600000 | PA      | $585950.37    | 0.09%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec | American Credit Acceptance Receivables Trust 2022-4                 | CUSIP: 02529XAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7103393.50   | 1.13%             | 2029-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| APOLLO MANAGEMENT HOLDIN       | Apollo Management Holdings LP                                       | CUSIP: 03765HAB7<br>LEI: 5493006XQW0V5K38YM64 | Long             | DBT              | CORP              | US        |    340000 | PA      | $338969.64    | 0.05%             | 2026-05-27      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN       | Archrock Partners LP / Archrock Partners Finance Corp               | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $599732.10    | 0.10%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                                                   | CUSIP: 04010LAY9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    600000 | PA      | $598094.99    | 0.10%             | 2025-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Arivo Acceptance Auto Loan Rec | Arivo Acceptance Auto Loan Receivables Trust 2021-1                 | CUSIP: 04047AAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $149362.64    | 0.02%             | 2027-03-15      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                            | CUSIP: 05377REC4<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   5330000 | PA      | $5286740.12   | 0.84%             | 2027-02-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding | Avis Budget Rental Car Funding AESOP LLC                            | CUSIP: 05377RFW9<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   5498000 | PA      | $5572777.75   | 0.89%             | 2027-04-20      | Fixed         | 7.09%                 | No            |                  2 | On Loan: No      |
| AVNET INC                      | Avnet Inc                                                           | CUSIP: 053807AW3<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1760788.19   | 0.28%             | 2028-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BrightSpire Capital, Inc       | BRSP 2021-FL1 Ltd                                                   | CUSIP: 05591XAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1987982.00   | 0.32%             | 2038-08-19      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Barings Middle Market CLO Ltd. | Barings Middle Market CLO 2023-II Ltd                               | CUSIP: 067934AA7<br>LEI: 2549007Y0JXPKK7NLK37 | Long             | ABS-CBDO         | CORP              | BM        |   1319871 | PA      | $1322421.04   | 0.21%             | 2032-01-20      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| BCRED MML CLO 2021-1 LLC       | BCRED MML CLO 2022-1 LLC                                            | CUSIP: 072917AA5<br>LEI: 2549008X01GXURMQIW78 | Long             | ABS-CBDO         | CORP              | US        |   5000000 | PA      | $4989940.00   | 0.80%             | 2035-04-20      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| BRAMBLES USA INC               | Brambles USA Inc                                                    | CUSIP: 10510KAC1<br>LEI: 549300ELM3HO6HFZSW59 | Long             | DBT              | CORP              | US        |    600000 | PA      | $598524.13    | 0.10%             | 2025-10-23      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus | BRAVO Residential Funding Trust 2025-NQM3                           | CUSIP: 105927AE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    981910 | PA      | $993332.11    | 0.16%             | 2065-03-25      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE            | CDW LLC / CDW Finance Corp                                          | CUSIP: 12513GBG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    950000 | PA      | $919308.92    | 0.15%             | 2026-12-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| COOPR Residential Mortgage Tru | COOPR Residential Mortgage Trust 2025-CES1                          | CUSIP: 12596SAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1010901.00   | 0.16%             | 2060-05-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| CPS Auto Trust                 | CPS Auto Receivables Trust 2021-B                                   | CUSIP: 12656QAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    428850 | PA      | $425833.74    | 0.07%             | 2028-06-15      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO       | Capital One Financial Corp                                          | CUSIP: 14040HBJ3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1696711.95   | 0.27%             | 2025-10-29      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2024-P4                              | CUSIP: 14076LAH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    363320 | PA      | $363334.01    | 0.06%             | 2032-12-10      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                  | Carnival Corp                                                       | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    250000 | PA      | $250893.50    | 0.04%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora | Chase Home Lending Mortgage Trust 2019-ATR2                         | CUSIP: 16159GAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1115940 | PA      | $1050980.05   | 0.17%             | 2049-07-25      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC               | COLT 2020-2 Mortgage Loan Trust                                     | CUSIP: 19688JAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1710000 | PA      | $1665281.79   | 0.27%             | 2065-03-25      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC             | Conagra Brands Inc                                                  | CUSIP: 205887CF7<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    950000 | PA      | $877225.97    | 0.14%             | 2027-11-01      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                      | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    500000 | PA      | $482493.00    | 0.08%             | 2026-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES          | Continental Resources Inc/OK                                        | CUSIP: 212015AU5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1629812.83   | 0.26%             | 2026-11-15      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC            | Delta Air Lines Inc                                                 | CUSIP: 247361ZX9<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    450000 | PA      | $450000.00    | 0.07%             | 2025-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DISCOVER BANK                  | Discover Bank                                                       | CUSIP: 25466AAJ0<br>LEI: X05BVSK68TQ7YTOSNR22 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1083169.96   | 0.17%             | 2026-07-27      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T | EFMT 2025-NQM1                                                      | CUSIP: 26846CAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1311984 | PA      | $1319874.45   | 0.21%             | 2070-01-25      | Variable      | 6.02%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BNGT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2490171 | PA      | $2462876.00   | 0.39%             | 2026-01-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137BUX78<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2860000 | PA      | $2831216.96   | 0.45%             | 2026-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137F84M2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     89655 | PA      | $88656.51     | 0.01%             | 2030-11-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FF3L9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1687984 | PA      | $1675771.21   | 0.27%             | 2028-01-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FGRL1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    818089 | PA      | $816169.42    | 0.13%             | 2028-06-25      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FL7L2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    680213 | PA      | $681430.90    | 0.11%             | 2026-02-25      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FLN34<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    986364 | PA      | $978543.38    | 0.16%             | 2026-02-25      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FXLT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3779615 | PA      | $3768113.84   | 0.60%             | 2027-08-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FXQZ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    594008 | PA      | $594036.14    | 0.09%             | 2030-10-25      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137FYUP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    537211 | PA      | $534366.48    | 0.09%             | 2031-02-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Whole Loan Securit | Freddie Mac Whole Loan Securities Trust 2016-SC02                   | CUSIP: 3137G1BF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1310505 | PA      | $1292323.21   | 0.21%             | 2046-10-25      | Variable      | 3.64%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H13L8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    643199 | PA      | $638677.90    | 0.10%             | 2028-05-25      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H1LV6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    440462 | PA      | $434740.70    | 0.07%             | 2031-06-25      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H1Z82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2435879 | PA      | $2414959.23   | 0.39%             | 2028-07-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H5DU8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3299136 | PA      | $3275752.05   | 0.52%             | 2031-12-25      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137H5XZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2325999 | PA      | $2307277.10   | 0.37%             | 2029-01-25      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates        | CUSIP: 3137HBBP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2110606 | PA      | $2124721.26   | 0.34%             | 2030-10-25      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                    | FIGRE Trust 2024-HE6                                                | CUSIP: 31684DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1867965 | PA      | $1918216.80   | 0.31%             | 2054-12-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund                          | CUSIP: 31846V211<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  16222646 | NS      | $16222646.46  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagship Credit Auto Trust     | Flagship Credit Auto Trust 2022-2                                   | CUSIP: 33844XAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1000125.20   | 0.16%             | 2028-04-17      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FLEX LTD                       | Flex Ltd                                                            | CUSIP: 33938XAC9<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |   1500000 | PA      | $1486832.18   | 0.24%             | 2026-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freedom Financial              | FREED ABS Trust 2022-3FP                                            | CUSIP: 35634EAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    794215 | PA      | $797585.43    | 0.13%             | 2029-08-20      | Fixed         | 7.36%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC         | Nationstar Mortgage Holdings Inc                                    | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $250320.75    | 0.04%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC       | OBX 2020-EXP1 Trust                                                 | CUSIP: 67448TBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    316561 | PA      | $300474.94    | 0.05%             | 2060-02-25      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                      | ONEOK Inc                                                           | CUSIP: 682680AU7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1100048.66   | 0.18%             | 2028-07-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC            | Oportun Issuance Trust 2024-2                                       | CUSIP: 68377KAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    465694 | PA      | $466366.93    | 0.07%             | 2032-02-09      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC            | Oportun Issuance Trust 2022-3                                       | CUSIP: 68378NAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4350000 | PA      | $4347229.49   | 0.69%             | 2031-06-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2022-NQM1 Trust                                                | CUSIP: 69378KAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1937439 | PA      | $1987492.53   | 0.32%             | 2067-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                    | PRKCM 2023-AFC1 Trust                                               | CUSIP: 693981AC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    956127 | PA      | $971078.27    | 0.15%             | 2058-02-25      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2023-8                                         | CUSIP: 694960AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5269857 | PA      | $5387653.62   | 0.86%             | 2031-06-16      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2023-8                                         | CUSIP: 694960AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5716682 | PA      | $5874171.89   | 0.94%             | 2031-06-16      | Fixed         | 9.54%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Grantor Trust 2025-2                                 | CUSIP: 69545GAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1625000 | PA      | $1620541.81   | 0.26%             | 2032-10-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2022-1                                         | CUSIP: 69546MAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3882982 | PA      | $3800928.59   | 0.61%             | 2029-10-15      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2023-5                                         | CUSIP: 69546PAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1749985 | PA      | $1760081.75   | 0.28%             | 2031-04-15      | Fixed         | 9.10%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2024-3                                         | CUSIP: 69547XAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    302363 | PA      | $305071.94    | 0.05%             | 2031-10-15      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2024-1                                         | CUSIP: 69548AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3001174 | PA      | $3053523.85   | 0.49%             | 2031-07-15      | Fixed         | 8.34%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust | Pagaya AI Debt Trust 2023-7                                         | CUSIP: 69548RAH7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1929197 | PA      | $1942294.11   | 0.31%             | 2031-07-15      | Variable      | 8.35%                 | No            |                  2 | On Loan: No      |
| Parliament Funding II Ltd      | Parliament Funding II ltd                                           | CUSIP: 70163QAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5474380 | PA      | $5477697.76   | 0.87%             | 2031-10-20      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC          | PennyMac Financial Services Inc                                     | CUSIP: 70932MAA5<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497504.75    | 0.08%             | 2025-10-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL       | Penske Truck Leasing Co Lp / PTL Finance Corp                       | CUSIP: 709599BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $136484.91    | 0.02%             | 2026-05-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Prestige Auto Receivables Trus | Prestige Auto Receivables Trust 2025-1                              | CUSIP: 74113UAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3009144.00   | 0.48%             | 2028-11-15      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne | PRET 2024-NPL5 LLC                                                  | CUSIP: 74143QAA3<br>LEI: 254900YWXIBNNDQF0Y67 | Long             | ABS-MBS          | CORP              | US        |    964049 | PA      | $963353.15    | 0.15%             | 2054-09-25      | Variable      | 5.96%                 | No            |                  2 | On Loan: No      |
| Prosper Marketplace Issuance T | Prosper Marketplace Issuance Trust Series 2023-1                    | CUSIP: 74390NAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1521575.85   | 0.24%             | 2029-07-16      | Fixed         | 8.29%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC              | PRPM 2024-2 LLC                                                     | CUSIP: 74448BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    674317 | PA      | $688975.61    | 0.11%             | 2029-03-25      | Variable      | 7.03%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners            | SG Residential Mortgage Trust 2021-2                                | CUSIP: 78432YAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3543145 | PA      | $3026348.77   | 0.48%             | 2061-12-25      | Variable      | 1.94%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin | Santander Bank Auto Credit-Linked Notes Series 2022-A               | CUSIP: 80290CAS3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5430 | PA      | $5430.20      | 0.00%             | 2032-05-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| SKOPOS AUTO RECEIVABLES TRUST  | Skopos Auto Receivables Trust 2019-1                                | CUSIP: 83085DAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    546330 | PA      | $548079.74    | 0.09%             | 2026-06-15      | Fixed         | 7.82%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY BANK                 | Synchrony Bank                                                      | CUSIP: 87166FAE3<br>LEI: 549300UATVPGSLE43Z27 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1718698.74   | 0.27%             | 2027-08-23      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TCI-Symphony CLO               | TCI-Symphony CLO 2016-1 Ltd                                         | CUSIP: 87229WAQ4<br>LEI: 5493005WLG3H3B8NI222 | Long             | ABS-CBDO         | CORP              | KY        |   3431894 | PA      | $3431859.46   | 0.55%             | 2032-10-13      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| TEACHERS INSURANCE AND ANNUITY | TIAA CLO I Ltd                                                      | CUSIP: 87271LAY8<br>LEI: 549300SWQCCOXV4X1761 | Long             | ABS-CBDO         | CORP              | KY        |   2942711 | PA      | $2942092.85   | 0.47%             | 2031-07-20      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS       | Targa Resources Partners LP / Targa Resources Partners Finance Corp | CUSIP: 87612BBL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $527183.71    | 0.08%             | 2027-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| USASF Receivables LLC          | US Auto Funding Trust 2022-1                                        | CUSIP: 90355FAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    196674 | PA      | $195213.19    | 0.03%             | 2025-10-15      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL       | United Wholesale Mortgage LLC                                       | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    400000 | PA      | $394976.36    | 0.06%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust   | Upstart Securitization Trust 2022-4                                 | CUSIP: 91678YAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    136578 | PA      | $136586.26    | 0.02%             | 2032-08-20      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Upstart Structured Pass-Throug | Upstart Structured Pass-Through Trust Series 2022-2A                | CUSIP: 91680YAY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    167926 | PA      | $166059.70    | 0.03%             | 2030-06-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2022-5                                   | CUSIP: 924921AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    812009 | PA      | $736172.09    | 0.12%             | 2067-04-25      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Veros Auto Receivables Trust   | Veros Auto Receivables Trust 2023-1                                 | CUSIP: 924933AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    339344 | PA      | $340178.24    | 0.05%             | 2028-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2021-8                                   | CUSIP: 92538GAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1376351 | PA      | $1228688.85   | 0.20%             | 2066-11-25      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2023-2                                   | CUSIP: 92539DAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    616858 | PA      | $626790.95    | 0.10%             | 2068-03-25      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2023-3                                   | CUSIP: 92539GAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    623512 | PA      | $631330.96    | 0.10%             | 2068-03-25      | Variable      | 6.74%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust     | Verus Securitization Trust 2025-2                                   | CUSIP: 92540VAE5<br>LEI: 213800TTP1CNX4WER720 | Long             | ABS-MBS          | CORP              | US        |   1979066 | PA      | $1987962.37   | 0.32%             | 2070-03-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust 2024-CES1                          | CUSIP: 92839HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1137091 | PA      | $1155802.84   | 0.18%             | 2054-05-25      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                            | CUSIP: 92840VAL6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    450000 | PA      | $450000.54    | 0.07%             | 2025-05-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                            | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1708755.00   | 0.27%             | 2026-12-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust 2024-CES3                          | CUSIP: 92841WAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    952543 | PA      | $966023.90    | 0.15%             | 2055-01-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru | Vista Point Securitization Trust 2025-CES1                          | CUSIP: 92842DAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2960433 | PA      | $3011334.38   | 0.48%             | 2055-04-25      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA       | Volkswagen Group of America Finance LLC                             | CUSIP: 928668BE1<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499771.88    | 0.08%             | 2025-05-13      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                   | Voya CLO 2013-2 Ltd                                                 | CUSIP: 92916WAA7<br>LEI: 5493007ASGBOUR3XJY69 | Long             | ABS-CBDO         | CORP              | KY        |    702371 | PA      | $700615.43    | 0.11%             | 2031-04-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd              | Wellfleet CLO 2018-2 Ltd                                            | CUSIP: 94949JAJ4<br>LEI: 254900QO5AI38SSR4719 | Long             | ABS-CBDO         | CORP              | KY        |   1444575 | PA      | $1442603.62   | 0.23%             | 2031-10-20      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT       | Western Midstream Operating LP                                      | CUSIP: 958254AK0<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1687024.61   | 0.27%             | 2028-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE         | Westinghouse Air Brake Technologies Corp                            | CUSIP: 960386AQ3<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    450000 | PA      | $448990.58    | 0.07%             | 2025-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| N/A                            | US 2YR NOTE (CBT) Jun25                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -324 | NC      | $-60798.23    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | ERIS SOFR 3yr     Dec22                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -293 | NC      | $330298.90    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-26

**Name of Applicant:** Angel Oak Funds Trust

**Signature:** /s/ Michael Colombo

**Name of Signer:** Michael Colombo

**Title:** Secretary