# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0000940400-26-011775
**Filing Date:** 2026-3
**Character Count:** 137182
**Document Hash:** 7c35f5f79613213dfd715617a83290f6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-011775.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0000940400-26-011775

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20261031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06625
- **FILM NUMBER:** 26805618

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

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

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

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

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

## Series and Classes Contracts Data

### Payden Strategic Income Fund (Series ID: S000045226)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000140807 | Payden Strategic Income Fund (Investor Class) | PYSGX           |
| C000140808 | Payden Strategic Income Fund (SI Class)       | PYSIX           |
| C000248246 | Payden Strategic Income Fund (Adviser Class)  | PYSLX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

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

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

- **a. Name of Series:** Payden Strategic Income Fund

- **b. EDGAR series identifier (if any):** S000045226

- **c. LEI of Series:** 5493002EUNEMBLRCKL57

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-30

**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:** $191724332.85

**Total Liabilities:** $8528703.65

**Net Assets:** $183195629.20

**Delayed Delivery Securities:** $3644396.57

**Cash Not Reported:** $1173708.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 6.00000000 | **1-Year:** 167.00000000 | **5-Year:** 5998.00000000 | **10-Year:** 11531.00000000 | **30-Year:** 20688.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 1191.00000000 | **5-Year:** 3738.00000000 | **10-Year:** 1445.00000000 | **30-Year:** 3122.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000140807 | 0.48%                | 0.29%                | 0.33%                |
| Class ID C000140808 | 0.59%                | 0.19%                | 0.44%                |
| Class ID C000248246 | 0.56%                | 0.16%                | 0.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $117528.63               | $268853.36                                 |
| Month 2  | $169636.60               | $-585584.77                                |
| Month 3  | $309562.50               | $-296129.48                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                   | Title                                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MORGAN STANLEY & CO. LLC                               | GBP/USD FORWARD                                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $51446.33     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-134333.16   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BXMT Ltd                                               | BXMT 2026-FL6 Ltd                                                            | CUSIP: 05620AAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300401.70    | 0.16%             | 2043-08-19      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                         | BRAVO Residential Funding Trust 2026-NQM1                                    | CUSIP: 10570CAC6<br>LEI: 254900XRZJZN8JGL1235 | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $351162.70    | 0.19%             | 2065-12-25      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                    | CDW LLC / CDW Finance Corp                                                   | CUSIP: 12513GBL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $355677.51    | 0.19%             | 2034-08-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                               | OCP SA                                                                       | CUSIP: 67091TAH8<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    250000 | PA      | $260401.65    | 0.14%             | 2030-04-30      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                | Jane Street Group / JSG Finance Inc                                          | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $611434.20    | 0.33%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                                 | Taco Bell Funding LLC                                                        | CUSIP: 87342RAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | PA      | $548490.20    | 0.30%             | 2055-08-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| CIA DE MINAS BUENAVENTUR                               | Cia de Minas Buenaventura SAA                                                | CUSIP: 204448AB0<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |    250000 | PA      | $260818.84    | 0.14%             | 2032-02-04      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Payden Emerging Markets Local Bond Fund                | Payden Emerging Markets Local Bond Fund                                      | CUSIP: 70432T867<br>LEI: 549300ZRY78UEWJB7K76 | Long             | EC               | RF                | US        |    197095 | NS      | $1965041.49   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                  | PennyMac Financial Services Inc                                              | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204534.80    | 0.11%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                          | New Residential Mortgage Loan Trust 2017-4                                   | CUSIP: 64829NAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    148113 | PA      | $144439.96    | 0.08%             | 2057-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $154959.47    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| MIC Glen LLC                                           | MIC GLEN LLC                                                                 | CUSIP: 55304PAH4<br>LEI: 549300XD843A2SP50882 | Long             | LON              | CORP              | US        |    426577 | PA      | $428443.29    | 0.23%             | 2028-07-21      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                                     | Saavi Energia Sarl                                                           | CUSIP: 78518PAA3<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $325170.00    | 0.18%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                                                   | CUSIP: 14040HDQ5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    900000 | PA      | $898700.33    | 0.49%             | 2037-01-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 3140QPVD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1703539 | PA      | $1678089.28   | 0.92%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                         | SWCH Commercial Mortgage Trust 2025-DATA                                     | CUSIP: 78489CAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $399174.68    | 0.22%             | 2042-02-15      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| EQUINIX EU 2 FINANCING C                               | Equinix Europe 2 Financing Corp LLC                                          | CUSIP: 29390XAG9<br>LEI: 254900FSZR46BPMCKI50 | Long             | DBT              | CORP              | US        |    600000 | PA      | $602609.44    | 0.33%             | 2030-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                  | Micron Technology Inc                                                        | CUSIP: 595112CD3<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    350000 | PA      | $363628.10    | 0.20%             | 2031-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC                               | Patterson-UTI Energy Inc                                                     | CUSIP: 703481AD3<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    550000 | PA      | $592874.23    | 0.32%             | 2033-10-01      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                               | Avolon Holdings Funding Ltd                                                  | CUSIP: 05401ABD2<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $596935.41    | 0.33%             | 2031-01-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                  | CUSIP: 38145GAS9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    850000 | PA      | $846683.44    | 0.46%             | 2037-01-21      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS AUD                                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-28044.91    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CPPIB CAPITAL INC                                      | CPPIB Capital Inc                                                            | CUSIP: 12593CAJ0<br>LEI: 549300KW9NB55HTDK075 | Long             | DBT              | NUSS              | CA        |    830000 | PA      | $589384.42    | 0.32%             | 2029-09-30      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| OHI GROUP SA                                           | OHI Group SA                                                                 | CUSIP: 67712MAB5<br>LEI: 529900GW2J8DSYJHEH26 | Long             | DBT              | CORP              | LU        |    332500 | PA      | $339150.00    | 0.19%             | 2029-07-22      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| Cologix Data Centers Issuer LL                         | Cologix Canadian Issuer LP                                                   | CUSIP: 19521DAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    675000 | PA      | $493045.20    | 0.27%             | 2052-01-25      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                                     | Crown Americas LLC                                                           | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    350000 | PA      | $358208.90    | 0.20%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                     | Regal Rexnord Corp                                                           | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    400000 | PA      | $427570.98    | 0.23%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| BCPE FLAVOR DEBT/ISSUER                                | BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer Inc                   | CUSIP: 072933AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $405399.30    | 0.22%             | 2032-07-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                         | CVR Energy Inc                                                               | CUSIP: 12662PAJ7<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496568.98    | 0.27%             | 2034-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 3140QT4F3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    526602 | PA      | $553214.74    | 0.30%             | 2054-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PETSMART LLC/PETSMART FI                               | PetSmart LLC / PetSmart Finance Corp                                         | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $256517.75    | 0.14%             | 2032-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM16 Trust                                                         | CUSIP: 67120GAA6<br>LEI: 254900AIRPH5Q5COT575 | Long             | ABS-MBS          | CORP              | US        |    262310 | PA      | $265132.07    | 0.14%             | 2064-10-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-127913.34   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Juniper Receivables 2021-2 DAC Holding Class R-1 Notes | Juniper Receivables 2021-2 DAC Holding Class R-1 Notes                       | CUSIP: 48204VAA2<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |         1 | NS      | $129467.22    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| BKV UPSTREAM MIDSTREAM L                               | BKV Upstream Midstream LLC                                                   | CUSIP: 05619CAA3<br>LEI: 254900LG75NBYHBBAU18 | Long             | DBT              | CORP              | US        |    300000 | PA      | $303988.50    | 0.17%             | 2030-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                                        | United States Treasury Inflation Indexed Bonds                               | CUSIP: 91282CNB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3777522 | PA      | $3835643.90   | 2.09%             | 2030-04-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS                                 | Repsol E&P Capital Markets US LLC                                            | CUSIP: 76026AAB3<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507844.26    | 0.28%             | 2030-09-16      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                  | Wells Fargo & Co                                                             | CUSIP: 95000U4A8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    750000 | PA      | $749439.96    | 0.41%             | 2029-09-15      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CPF2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2953828.14   | 1.61%             | 2032-10-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS PRIVATE CR                               | Goldman Sachs Private Credit Corp                                            | CUSIP: 38152BAE1<br>LEI: 549300TD27G6372IYJ65 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300479.50    | 0.16%             | 2029-01-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LIMAK CIMENTO SANAYI                                   | Limak Cimento Sanayi ve Ticaret AS                                           | CUSIP: 53263AAA6<br>LEI: 789000EEUQIGHI88WH47 | Long             | DBT              | CORP              | TR        |    350000 | PA      | $357404.86    | 0.20%             | 2029-07-25      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206052.74    | 0.11%             | 2031-04-23      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Fr Br Holdings, L.L.C.                                 | FR BR HOLDINGS LLC                                                           | CUSIP: 30260XAD1<br>LEI: 549300FJFG2CK1VX3Y85 | Long             | LON              | CORP              | US        |    299250 | PA      | $301494.38    | 0.16%             | 2030-10-09      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $212252.80    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                     | Dominican Republic International Bond                                        | CUSIP: 25714PEZ7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    350000 | PA      | $366625.00    | 0.20%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                               | Antero Midstream Partners LP / Antero Midstream Finance Corp                 | CUSIP: 03690AAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $303433.96    | 0.17%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                             | goeasy Ltd                                                                   | CUSIP: 380355AM9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $475948.25    | 0.26%             | 2030-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Last Mile Logistics Pan Euro F                         | Last Mile Logistics Pan Euro Finance DAC                                     | CUSIP: 000000000<br>LEI: 635400NOPX1IKIAX7N90 | Long             | ABS-MBS          | CORP              | IE        |    186553 | PA      | $221288.55    | 0.12%             | 2033-08-17      | Floating      | 3.96%                 | No            |                  2 | On Loan: No      |
| TENN VALLEY AUTHORITY                                  | Tennessee Valley Authority                                                   | CUSIP: 880591EH1<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    950000 | PA      | $1001574.22   | 0.55%             | 2039-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BSPRT Issuer, Ltd.                                     | BSPRT 2025-FL12 Issuer LLC                                                   | CUSIP: 05619BAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $301080.18    | 0.16%             | 2043-01-17      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                   | Paraguay Government International Bond                                       | CUSIP: 699149AD2<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    172000 | PA      | $173675.28    | 0.09%             | 2027-03-27      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                                    | LCM 39 Ltd                                                                   | CUSIP: 50204NAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    750000 | PA      | $752084.25    | 0.41%             | 2034-10-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| BBVA MEX BANCA GRUPO TX                                | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX | CUSIP: 07336UAC7<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    300000 | PA      | $307575.00    | 0.17%             | 2029-09-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                     | CUSIP: 30711XCH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    493527 | PA      | $501101.93    | 0.27%             | 2028-09-25      | Floating      | 16.06%                | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $34758.83     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ABU DHABI NATIONAL ENERG                               | Abu Dhabi National Energy Co PJSC                                            | CUSIP: 00388WAQ4<br>LEI: 213800UNJSVQFNUYYW03 | Long             | DBT              | CORP              | AE        |    700000 | PA      | $697828.18    | 0.38%             | 2031-10-09      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Last Mile Logistics Pan Euro F                         | Last Mile Logistics Pan Euro Finance DAC                                     | CUSIP: 000000000<br>LEI: 635400NOPX1IKIAX7N90 | Long             | ABS-MBS          | CORP              | IE        |    785485 | PA      | $930825.10    | 0.51%             | 2033-08-17      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                       | Hewlett Packard Enterprise Co                                                | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    325000 | PA      | $320151.52    | 0.17%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                               | Antero Midstream Partners LP / Antero Midstream Finance Corp                 | CUSIP: 03690AAN6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $555849.80    | 0.30%             | 2034-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                             | CUSIP: 3133KQEW2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    822429 | PA      | $838738.50    | 0.46%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                                                   | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    275000 | PA      | $308797.65    | 0.17%             | 2031-10-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                         | Galaxy XXII CLO Ltd                                                          | CUSIP: 36320TBM4<br>LEI: 54930022KENWLYJ8SJ86 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000000.00   | 0.55%             | 2034-04-16      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 31418ES68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1409868 | PA      | $1452871.35   | 0.79%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Arbys Funding LLC                                      | Arbys Funding LLC                                                            | CUSIP: 038779AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    207900 | PA      | $203069.03    | 0.11%             | 2050-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc           | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $236580.08    | 0.13%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                     | Athene Holding Ltd                                                           | CUSIP: 04686JAJ0<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500040.10    | 0.27%             | 2054-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                               | Western Midstream Operating LP                                               | CUSIP: 958667AF4<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105498.03    | 0.06%             | 2029-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| AMFAM HOLDINGS INC                                     | AmFam Holdings Inc                                                           | CUSIP: 03115AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    725000 | PA      | $640476.11    | 0.35%             | 2031-03-11      | Fixed         | 2.81%                 | No            |                  2 | On Loan: No      |
| PT SORIK MAR GEO POW                                   | Sorik Marapi Geothermal Power PT                                             | CUSIP: 74390TAA7<br>LEI: 254900OW9VKG09S8C597 | Long             | DBT              | CORP              | ID        |    384120 | PA      | $397084.05    | 0.22%             | 2031-08-05      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust 2026-1                                            | CUSIP: 92541JAF8<br>LEI: 2138009KJR7Q44BI8668 | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $200998.16    | 0.11%             | 2071-01-25      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| GOVT OF BERMUDA                                        | Bermuda Government International Bond                                        | CUSIP: 085209AH7<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |    200000 | PA      | $138164.00    | 0.08%             | 2050-08-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                       | Peruvian Government International Bond                                       | CUSIP: 715638EB4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    300000 | PA      | $306300.00    | 0.17%             | 2035-02-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM12 Trust                                                         | CUSIP: 67448PAA1<br>LEI: 254900MY906NOBBPOA44 | Long             | ABS-MBS          | CORP              | US        |    321246 | PA      | $324216.07    | 0.18%             | 2064-07-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                 | Williams Cos Inc/The                                                         | CUSIP: 969457CJ7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    800000 | PA      | $836783.93    | 0.46%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust 2024-8                                            | CUSIP: 92540PAA6<br>LEI: 213800RZ8QGNZ38DSP77 | Long             | ABS-MBS          | CORP              | US        |    268205 | PA      | $270499.96    | 0.15%             | 2069-10-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                  | Blue Owl Capital Corp                                                        | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    400000 | PA      | $404425.58    | 0.22%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                     | Expand Energy Corp                                                           | CUSIP: 165167DH7<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    750000 | PA      | $775814.57    | 0.42%             | 2035-01-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN SF MTG                         | Idaho Housing & Finance Association                                          | CUSIP: 45129Y7Z3<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    340000 | PA      | $354566.81    | 0.19%             | 2065-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                               | Banco Bilbao Vizcaya Argentaria SA                                           | CUSIP: 05946KAL5<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    425000 | PA      | $439681.14    | 0.24%             | 2028-09-14      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                     | Energy Transfer LP                                                           | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    400000 | PA      | $419598.26    | 0.23%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                                        | United States Treasury Inflation Indexed Bonds                               | CUSIP: 91282CHP9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2988216 | PA      | $2940151.38   | 1.60%             | 2033-07-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                   | Cross 2024-H7 Mortgage Trust                                                 | CUSIP: 22757CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    229306 | PA      | $231670.07    | 0.13%             | 2069-11-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | Freddie Mac STACR Trust 2019-FTR3                                            | CUSIP: 35565EAE2<br>LEI: 5493009ZFZYH4FRCW638 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $328876.98    | 0.18%             | 2047-09-25      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I                         | CyrusOne Data Centers Issuer I LLC                                           | CUSIP: 23284BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | PA      | $539958.43    | 0.29%             | 2049-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 3140QPSR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    953188 | PA      | $937966.67    | 0.51%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust                           | DC Commercial Mortgage Trust 2023-DC                                         | CUSIP: 24023AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $411864.24    | 0.22%             | 2040-09-12      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1550000 | PA      | $1516335.94   | 0.83%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NXPT Commercial Mortgage Trust                         | NXPT Commercial Mortgage Trust 2024-STOR                                     | CUSIP: 67119YAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $744853.58    | 0.41%             | 2041-11-05      | Variable      | 4.31%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                  | Foundry JV Holdco LLC                                                        | CUSIP: 350930AB9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $524398.22    | 0.29%             | 2030-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                     | Banco Santander SA                                                           | CUSIP: 05964HAN5<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $394243.23    | 0.22%             | 2027-09-14      | Fixed         | 1.72%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 912810SZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1940000 | PA      | $1108262.89   | 0.60%             | 2051-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                               | Western Midstream Operating LP                                               | CUSIP: 958667AE7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    250000 | PA      | $264296.18    | 0.14%             | 2033-04-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                   | Cleveland-Cliffs Inc                                                         | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    600000 | PA      | $616491.60    | 0.34%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BSPRT Issuer, Ltd.                                     | BSPRT 2025-FL12 Issuer LLC                                                   | CUSIP: 05619BAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    400000 | PA      | $401006.32    | 0.22%             | 2043-01-17      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                             | Driven Brands Funding LLC                                                    | CUSIP: 26209XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    562348 | PA      | $555094.45    | 0.30%             | 2050-07-20      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                 | Santander Holdings USA Inc                                                   | CUSIP: 80282KAZ9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    450000 | PA      | $447764.42    | 0.24%             | 2026-10-05      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| Montmartre Euro CLO                                    | Montmartre Euro CLO 2020-2 DAC                                               | CUSIP: 000000000<br>LEI: 213800HCQ9D9IBM16U83 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $296381.95    | 0.16%             | 2034-07-15      | Floating      | 2.98%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2025-CES11                                               | CUSIP: 749423AA7<br>LEI: 254900BTBXWWIQBK4D47 | Long             | ABS-MBS          | CORP              | US        |    586707 | PA      | $589190.60    | 0.32%             | 2055-11-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                  | Guatemala Government Bond                                                    | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    590000 | PA      | $591132.80    | 0.32%             | 2026-05-03      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                               | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp           | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $467561.70    | 0.26%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                    | Bank of Nova Scotia/The                                                      | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $750035.28    | 0.41%             | 2084-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                         | Bravo Residential Funding Trust 2025-NQM9                                    | CUSIP: 10569WAC5<br>LEI: 254900XY2WSFF1Q6S467 | Long             | ABS-MBS          | CORP              | US        |    470487 | PA      | $473051.81    | 0.26%             | 2065-09-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                         | Bravo Residential Funding Trust 2025-NQM10                                   | CUSIP: 10570BAC8<br>LEI: 2549000KHGUZMZ31N203 | Long             | ABS-MBS          | CORP              | US        |    674195 | PA      | $676308.44    | 0.37%             | 2065-09-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                       | Hewlett Packard Enterprise Co                                                | CUSIP: 42824CCA5<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    700000 | PA      | $696800.81    | 0.38%             | 2030-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2025-CES5                                                | CUSIP: 74942CAA7<br>LEI: 2549008EA2IHW9G2TZ48 | Long             | ABS-MBS          | CORP              | US        |    336106 | PA      | $341234.74    | 0.19%             | 2055-05-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Planet Fitness Master Issuer L                         | Planet Fitness Master Issuer LLC                                             | CUSIP: 72703PAC7<br>LEI: 549300NX9W3U2DO53T22 | Long             | ABS-O            | CORP              | US        |    385400 | PA      | $370920.41    | 0.20%             | 2049-12-05      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                  | Huntington Bancshares Inc/OH                                                 | CUSIP: 446150BF0<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    600000 | PA      | $627763.35    | 0.34%             | 2039-11-18      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Loan Trust                         | Nationstar Mortgage Loan Trust 2013-A                                        | CUSIP: 63861HAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     22847 | PA      | $22113.03     | 0.01%             | 2052-12-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| SANTANDER CONSUMER AUTO RECEIVABLES TRUST 2021-C       | SANTANDER CONSUMER AUTO RECEIVABLES TRUST 2021-C                             | CUSIP: 80281HAD6<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        50 | NS      | $564777.16    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                               | USD/CAD FORWARD                                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-17101.29    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TIERRA MOJADA LUX II SRL                               | Tierra Mojada Luxembourg II Sarl                                             | CUSIP: 30260LAA3<br>LEI: 254900H2U8PBIY32VI94 | Long             | DBT              | CORP              | LU        |    263990 | PA      | $258446.34    | 0.14%             | 2040-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                               | Republic of South Africa Government International Bond                       | CUSIP: 836205AY0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    250000 | PA      | $257668.33    | 0.14%             | 2030-06-22      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                | Dryden 55 CLO Ltd                                                            | CUSIP: 26245MAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    107473 | PA      | $107527.60    | 0.06%             | 2031-04-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                           | Synopsys Inc                                                                 | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    700000 | PA      | $714541.88    | 0.39%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                 | Santander Holdings USA Inc                                                   | CUSIP: 80282KBM7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    275000 | PA      | $282155.14    | 0.15%             | 2030-09-06      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GB29<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512168.65    | 0.28%             | 2030-07-23      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                | Blackstone Secured Lending Fund                                              | CUSIP: 09261XAB8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    625000 | PA      | $618855.25    | 0.34%             | 2026-09-16      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Emg Utica Midstream Holdings LLC                       | EMG UTICA MIDSTREAM HOLDINGS LLC                                             | CUSIP: 26869HAB3<br>LEI: 254900H5HLPM7ZD1LU54 | Long             | LON              | CORP              | US        |    496239 | PA      | $499960.83    | 0.27%             | 2030-04-01      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2257382 | PA      | $2268375.25   | 1.24%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                     | CNX Resources Corp                                                           | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    370000 | PA      | $387335.61    | 0.21%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                                 | Republic of Uzbekistan International Bond                                    | CUSIP: 91822Q2E6<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    575000 | PA      | $535148.53    | 0.29%             | 2031-10-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2026-CES1                                                | CUSIP: 74939BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $453729.15    | 0.25%             | 2056-01-25      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                     | Ally Financial Inc                                                           | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    450000 | PA      | $447502.55    | 0.24%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA WTR & SWR AUT                         | District of Columbia Water & Sewer Authority                                 | CUSIP: 254845JZ4<br>LEI: 549300OT2FIJQJ5PSH71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $212460.00    | 0.12%             | 2114-10-01      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                   | Saudi Arabian Oil Co                                                         | CUSIP: 80414L2Q7<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    600000 | PA      | $572250.00    | 0.31%             | 2064-07-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                         | Var Energi ASA                                                               | CUSIP: 92212WAE0<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    400000 | PA      | $458594.00    | 0.25%             | 2032-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                | HCA Inc                                                                      | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    260000 | PA      | $250032.27    | 0.14%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2024-XL5                                        | CUSIP: 05612GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    525000 | PA      | $526778.18    | 0.29%             | 2041-03-15      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                               | Moss Creek Resources Holdings Inc                                            | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    680000 | PA      | $661726.90    | 0.36%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                               | JH North America Holdings Inc                                                | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508840.00    | 0.28%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                       | VB-S1 Issuer LLC - VBTEL                                                     | CUSIP: 91823ABG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $310543.08    | 0.17%             | 2054-05-15      | Fixed         | 8.87%                 | No            |                  2 | On Loan: No      |
| Lackawanna Energy Center LLC                           | LACKAWANNA ENERGY CENTER                                                     | CUSIP: 000000000<br>LEI: 549300IW2LJBNY42EC59 | Long             | LON              | CORP              | US        |    315876 | PA      | $318205.90    | 0.17%             | 2032-08-05      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                               | Corebridge Financial Inc                                                     | CUSIP: 21871XAH2<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    900000 | PA      | $857713.50    | 0.47%             | 2032-04-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                         | OneMain Financial Issuance Trust 2022-2                                      | CUSIP: 68268VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     45628 | PA      | $45657.08     | 0.02%             | 2034-10-14      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                               | HPS Corporate Lending Fund                                                   | CUSIP: 40440VAL9<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251395.48    | 0.14%             | 2027-06-05      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EARTHQUAKE AUTH                          | California Earthquake Authority                                              | CUSIP: 13017HAP1<br>LEI: 254900P2MGLOUH3QS859 | Long             | DBT              | MUN               | US        |    295000 | PA      | $299124.00    | 0.16%             | 2027-07-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| FIEMEX ENERGIA - BANC AC                               | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple             | CUSIP: 05974EAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    198101 | PA      | $206394.00    | 0.11%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                | GLP Capital LP / GLP Financing II Inc                                        | CUSIP: 361841AQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $526369.03    | 0.29%             | 2031-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                               | Comision Federal de Electricidad                                             | CUSIP: 200447AQ3<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    400000 | PA      | $400500.00    | 0.22%             | 2034-01-28      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| DUQUESNE LIGHT HOLDINGS                                | Duquesne Light Holdings Inc                                                  | CUSIP: 266233AJ4<br>LEI: 4CUJ1D8WDXK9X7QI6B93 | Long             | DBT              | CORP              | US        |    975000 | PA      | $872117.39    | 0.48%             | 2032-01-07      | Fixed         | 2.77%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                   | Cross 2024-H8 Mortgage Trust                                                 | CUSIP: 22757GAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    204199 | PA      | $206445.93    | 0.11%             | 2069-12-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                | Starwood Property Trust Inc                                                  | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502866.00    | 0.27%             | 2028-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                               | Ascent Resources Utica Holdings LLC / ARU Finance Corp                       | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $310845.90    | 0.17%             | 2033-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                             | CUSIP: 3133KPUP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    626962 | PA      | $631945.24    | 0.34%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENOVUS ENERGY INC                                     | Cenovus Energy Inc                                                           | CUSIP: 15135UBA6<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $699419.83    | 0.38%             | 2031-03-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                 | BP Capital Markets PLC                                                       | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $372158.50    | 0.20%             | N/A             | Fixed         | 6.45%                 | No            |                  2 | On Loan: —       |
| Basswood Park CLO Ltd                                  | Basswood Park CLO Ltd                                                        | CUSIP: 070252AJ0<br>LEI: 5493005HSAGIQZIVAS94 | Long             | ABS-CBDO         | CORP              | KY        |    650000 | PA      | $650930.15    | 0.36%             | 2034-04-20      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING                                | Alcoa Nederland Holding BV                                                   | CUSIP: 013822AH4<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |    550000 | PA      | $582168.95    | 0.32%             | 2031-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CPQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1770000 | PA      | $1754512.50   | 0.96%             | 2032-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2025-NQM1 Trust                                                          | CUSIP: 673914AC1<br>LEI: 2549007E8KF1RJ2ZV866 | Long             | ABS-MBS          | CORP              | US        |    409102 | PA      | $413914.50    | 0.23%             | 2064-12-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                                | STANDARD INDUSTRIES INC                                                      | CUSIP: 85350EAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    150188 | PA      | $150816.79    | 0.08%             | 2028-09-22      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                               | CUSIP: 61748UAE2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    275000 | PA      | $283174.53    | 0.15%             | 2031-01-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Juniper Valley Park CLO, Ltd                           | Juniper Valley Park CLO Ltd                                                  | CUSIP: 48206KBC9<br>LEI: 213800ACSV8GAJ4CCO70 | Long             | ABS-CBDO         | CORP              | JE        |    400000 | PA      | $400582.00    | 0.22%             | 2036-07-20      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                                | BDS 2024-FL13 LLC                                                            | CUSIP: 05555MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    450000 | PA      | $451596.69    | 0.25%             | 2039-09-19      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust 2024-9                                            | CUSIP: 92540RAC8<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-MBS          | CORP              | US        |    284902 | PA      | $287927.64    | 0.16%             | 2069-11-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM13 Trust                                                         | CUSIP: 67119PAP6<br>LEI: 254900W2SY2Z6X7UAX78 | Long             | ABS-MBS          | CORP              | US        |    320450 | PA      | $321996.38    | 0.18%             | 2064-06-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                    | STACR Trust 2018-HRP2                                                        | CUSIP: 35564ACC3<br>LEI: 549300YG8OJES76WL398 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $366613.08    | 0.20%             | 2047-02-25      | Floating      | 14.31%                | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                         | BRAVO Residential Funding Trust 2024-NQM7                                    | CUSIP: 105698AC8<br>LEI: 254900T3YTF92WA96N66 | Long             | ABS-MBS          | CORP              | US        |    310274 | PA      | $313356.37    | 0.17%             | 2064-10-27      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| BrightSpire Capital, Inc                               | BRSP 2021-FL1 Ltd                                                            | CUSIP: 05591XAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $604754.88    | 0.33%             | 2038-08-19      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| Pegasus Bidco Bv                                       | PEGASUS BIDCO BV                                                             | CUSIP: 000000000<br>LEI: 254900U303DPAFR7MA71 | Long             | LON              | CORP              | NL        |    343046 | PA      | $344332.26    | 0.19%             | 2029-07-12      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                               | Azule Energy Finance Plc                                                     | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $303830.55    | 0.17%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Commercial Mortgage Trust 2024-XL4                                        | CUSIP: 05611VAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    742428 | PA      | $745113.51    | 0.41%             | 2039-02-15      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                            | Ivory Coast Government International Bond                                    | CUSIP: 221625AT3<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    300000 | PA      | $320372.28    | 0.17%             | 2033-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM18 Trust                                                         | CUSIP: 673913AA7<br>LEI: 254900NK9PNLY9I00149 | Long             | ABS-MBS          | CORP              | US        |    172398 | PA      | $174024.66    | 0.09%             | 2064-10-25      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                     | Energy Transfer LP                                                           | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    600000 | PA      | $656814.44    | 0.36%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM17 Trust                                                         | CUSIP: 673911AC7<br>LEI: 254900HMH8TR6ZSMCB34 | Long             | ABS-MBS          | CORP              | US        |    180013 | PA      | $182255.63    | 0.10%             | 2064-11-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1900000 | PA      | $1857992.18   | 1.01%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                       | COLT 2025-10 Mortgage Loan Trust                                             | CUSIP: 12675XAA4<br>LEI: 213800STFGFKQEQSRE63 | Long             | ABS-MBS          | CORP              | US        |    243878 | PA      | $245284.63    | 0.13%             | 2070-10-25      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| ASURION LLC/ASURION CO                                 | Asurion LLC and Asurion Co-Issuer Inc                                        | CUSIP: 045941AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $250909.08    | 0.14%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                       | Colt 2025-1 Mortgage Loan Trust                                              | CUSIP: 196920AC6<br>LEI: 21380069FFOP8RZNF423 | Long             | ABS-MBS          | CORP              | US        |    569000 | PA      | $575902.26    | 0.31%             | 2070-01-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2025-NQM16 Trust                                                         | CUSIP: 67122DAF0<br>LEI: 254900WI6P4MRT24JH23 | Long             | ABS-MBS          | CORP              | US        |    275704 | PA      | $276023.18    | 0.15%             | 2065-08-25      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA CA RGTS MED                         | Regents of the University of California Medical Center Pooled Revenue        | CUSIP: 913366KV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $592355.48    | 0.32%             | 2032-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                    | Petroleos Mexicanos                                                          | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    450000 | PA      | $449554.68    | 0.25%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                       | NTT Finance Corp                                                             | CUSIP: 62954WAP0<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $302698.04    | 0.17%             | 2027-07-16      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                             | CUSIP: 3133KPUB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    583560 | PA      | $574241.46    | 0.31%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                               | USA Compression Partners LP / USA Compression Finance Corp                   | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $405386.80    | 0.22%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                           | Centene Corp                                                                 | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    450000 | PA      | $447542.82    | 0.24%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                               | CUSIP: 61748UAT9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    900000 | PA      | $896859.16    | 0.49%             | 2037-01-30      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| WESTERN-SOUTHERN GLOBAL                                | Western-Southern Global Funding                                              | CUSIP: 95954A2C6<br>LEI: 635400PFYEGVSGK4VB37 | Long             | DBT              | CORP              | US        |    650000 | PA      | $643951.13    | 0.35%             | 2032-12-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                              | ONEOK Inc                                                                    | CUSIP: 682680BK8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    300000 | PA      | $315919.43    | 0.17%             | 2030-11-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                     | CUSIP: 30711XCR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    763301 | PA      | $780877.97    | 0.43%             | 2028-10-25      | Floating      | 15.56%                | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                      | General Motors Co                                                            | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    550000 | PA      | $574931.89    | 0.31%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                | TRTX 2025-FL7 Issuer Ltd                                                     | CUSIP: 87277LAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $550649.00    | 0.30%             | 2043-06-18      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                               | Solstice Advanced Materials Inc                                              | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502878.00    | 0.27%             | 2033-09-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ARCHROCK SERVICES/PARTNE                               | Archrock Services LP / Archrock Partners Finance Corp                        | CUSIP: 03958CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $499857.75    | 0.27%             | 2034-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Connecticut Avenue Securities Trust 2024-R03                                 | CUSIP: 207941AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $556472.40    | 0.30%             | 2044-03-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                          | CoreWeave Inc                                                                | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    700000 | PA      | $681455.74    | 0.37%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP                               | Main Street Capital Corp                                                     | CUSIP: 56035LAH7<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    300000 | PA      | $313583.50    | 0.17%             | 2029-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                         | NRG Energy Inc                                                               | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    800000 | PA      | $821682.40    | 0.45%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                               | Petrobras Global Finance BV                                                  | CUSIP: 71647NBN8<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    450000 | PA      | $442687.50    | 0.24%             | 2036-01-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                        | IHS Holding Ltd                                                              | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    450000 | PA      | $464275.62    | 0.25%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                 | General Motors Financial Co Inc                                              | CUSIP: 37045XFM3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    550000 | PA      | $550295.06    | 0.30%             | 2031-01-08      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                 | Extra Space Storage LP                                                       | CUSIP: 30225VAR8<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    600000 | PA      | $635108.43    | 0.35%             | 2031-01-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                               | Graphic Packaging International LLC                                          | CUSIP: 38869PAP9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298042.99    | 0.16%             | 2026-04-15      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2050000 | PA      | $2059729.48   | 1.12%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2025-CES8                                                | CUSIP: 74939WAA8<br>LEI: 254900FCN7EI8DTYGA19 | Long             | ABS-MBS          | CORP              | US        |    507096 | PA      | $511229.14    | 0.28%             | 2055-08-25      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                          | Citigroup Inc                                                                | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    600000 | PA      | $611174.43    | 0.33%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Payden Cash Reserves Money Market Fund                 | Payden Cash Reserves Money Market Fund                                       | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |   2893979 | NS      | $2893979.40   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 3140QQKG9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    926031 | PA      | $910682.81    | 0.50%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                                | Algonquin Power & Utilities Corp                                             | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    550000 | PA      | $552516.14    | 0.30%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| LAND O'LAKES INC                                       | Land O' Lakes Inc                                                            | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $179000.00    | 0.10%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                   | Paraguay Government International Bond                                       | CUSIP: 699149AM2<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    450000 | PA      | $471622.50    | 0.26%             | 2033-08-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                               | HPS Corporate Lending Fund                                                   | CUSIP: 40440VAQ8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    550000 | PA      | $546901.00    | 0.30%             | 2028-09-11      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES                               | Banco de Credito e Inversiones SA                                            | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    350000 | PA      | $378066.50    | 0.21%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                               | Occidental Petroleum Corp                                                    | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    450000 | PA      | $460560.60    | 0.25%             | 2034-10-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: —       |
| CAPITAL ONE FINANCIAL CO                               | Capital One Financial Corp                                                   | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207172.12    | 0.11%             | 2036-01-30      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1810000 | PA      | $1772704.10   | 0.97%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                         | Galaxy XXII CLO Ltd                                                          | CUSIP: 36320TBD4<br>LEI: 54930022KENWLYJ8SJ86 | Long             | ABS-CBDO         | CORP              | KY        |    934429 | PA      | $934429.06    | 0.51%             | 2034-04-16      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| WHISTLER PIPELINE LLC                                  | Whistler Pipeline LLC                                                        | CUSIP: 96337RAA0<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |    400000 | PA      | $413569.20    | 0.23%             | 2029-09-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8730000 | PA      | $8738866.36   | 4.77%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI                         | Golden State Tobacco Securitization Corp                                     | CUSIP: 38122NB50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $288632.68    | 0.16%             | 2034-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                             | CUSIP: 3133KPY93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    500880 | PA      | $507211.66    | 0.28%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock European CLO DAC                             | Blackrock European CLO VII DAC                                               | CUSIP: 000000000<br>LEI: 635400IDVZFM7YPKHY80 | Long             | ABS-CBDO         | CORP              | IE        |    700000 | PA      | $830157.38    | 0.45%             | 2031-10-15      | Floating      | 3.32%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                           | Barclays PLC                                                                 | CUSIP: 06738ECF0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $452057.07    | 0.25%             | 2027-05-09      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Oak Street Investment Grade Ne                         | Oak Street Investment Grade Net Lease Fund Series 2020-1                     | CUSIP: 67181DAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    247604 | PA      | $194229.62    | 0.11%             | 2050-11-20      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                               | Western Midstream Operating LP                                               | CUSIP: 958667AH0<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    700000 | PA      | $700493.43    | 0.38%             | 2031-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                    | Ashtead Capital Inc                                                          | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    450000 | PA      | $465248.87    | 0.25%             | 2033-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                  | Quikrete Holdings Inc                                                        | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    300000 | PA      | $311826.90    | 0.17%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                               | South Bow USA Infrastructure Holdings LLC                                    | CUSIP: 83007CAF9<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    550000 | PA      | $554969.60    | 0.30%             | 2034-10-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                    | American Tower Corp                                                          | CUSIP: 03027XAU4<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    560000 | PA      | $556993.45    | 0.30%             | 2029-03-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                               | USD/EUR FORWARD                                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-7286.44     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OCEANICA LUX                                           | Oceanica Lux                                                                 | CUSIP: 000000000<br>LEI: 635400VU48WVABC1TO64 | Long             | DBT              | CORP              | LU        |    325000 | PA      | $338000.00    | 0.18%             | 2029-10-02      | Fixed         | 13.00%                | No            |                  2 | On Loan: —       |
| CALIFORNIA ST POLL CONTROL FIN                         | California Pollution Control Financing Authority                             | CUSIP: 130536RK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245111 | PA      | $39.22        | 0.00%             | 2039-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                          | Pennsylvania Economic Development Financing Authority                        | CUSIP: 70869PFT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $435246.31    | 0.24%             | 2039-06-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Veritiv Operating Co                                   | VERITIV OPERATING CO                                                         | CUSIP: 92338TAB2<br>LEI: 5493004G8OK5L1UTIY12 | Long             | LON              | CORP              | US        |    543125 | PA      | $533009.30    | 0.29%             | 2030-11-29      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                        | Danske Bank A/S                                                              | CUSIP: 23636ABH3<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    300000 | PA      | $312126.56    | 0.17%             | 2030-03-01      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                 | Rockford Tower CLO 2018-2 Ltd                                                | CUSIP: 77342KAA8<br>LEI: 5493001SZ764RMCNU069 | Long             | ABS-CBDO         | CORP              | KY        |    132875 | PA      | $132948.61    | 0.07%             | 2031-10-20      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                       | Fannie Mae Connecticut Avenue Securities                                     | CUSIP: 30711XDB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    491309 | PA      | $511136.15    | 0.28%             | 2029-01-25      | Floating      | 14.06%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 31418EM23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    168364 | PA      | $173976.63    | 0.09%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                  | Wells Fargo & Co                                                             | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    600000 | PA      | $617973.17    | 0.34%             | 2031-04-23      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Esta                         | Greystone CRE Notes 2025 HC-4 LLC                                            | CUSIP: 39809NAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    550000 | PA      | $550065.34    | 0.30%             | 2042-10-15      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                  | Guatemala Government Bond                                                    | CUSIP: 401494AZ2<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    350000 | PA      | $373222.50    | 0.20%             | 2037-02-06      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 3140QPSJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    405459 | PA      | $389764.66    | 0.21%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2025-NQM18 Trust                                                         | CUSIP: 673918AC2<br>LEI: 254900JLM1WC0WGYCA96 | Long             | ABS-MBS          | CORP              | US        |    231294 | PA      | $232913.31    | 0.13%             | 2065-09-25      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                         | Wells Fargo Commercial Mortgage Trust 2025-HI                                | CUSIP: 949933AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $554814.70    | 0.30%             | 2042-10-15      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                  | Palmer Square CLO 2018-2 Ltd                                                 | CUSIP: 69688MAN5<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $700940.80    | 0.38%             | 2037-04-16      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7720000 | PA      | $7738093.75   | 4.22%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DHAFRAH PV2 ENERGY COMPA                               | Dhafrah Pv2 Energy Co LLC                                                    | CUSIP: 25241MAA5<br>LEI: 529900AHXZA1YRZN9C67 | Long             | DBT              | CORP              | AE        |    400000 | PA      | $406474.84    | 0.22%             | 2053-06-30      | Fixed         | 5.79%                 | No            |                  2 | On Loan: —       |
| ACWA POWER MGMT INVST                                  | Acwa Power Management And Investments One Ltd                                | CUSIP: 005117AA4<br>LEI: 635400M3OWQGQBZOYO38 | Long             | DBT              | CORP              | AE        |    588828 | PA      | $606004.85    | 0.33%             | 2039-12-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers                         | Neuberger Berman Loan Advisers Euro CLO 2 DAC                                | CUSIP: 000000000<br>LEI: 549300PWQEWJ6XJV7687 | Long             | ABS-CBDO         | CORP              | IE        |    500000 | PA      | $593306.79    | 0.32%             | 2034-04-15      | Floating      | 3.05%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVT SUKUK                                   | Perusahaan Penerbit SBSN Indonesia III                                       | CUSIP: 71567TAB8<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |    700000 | PA      | $712703.87    | 0.39%             | 2034-07-02      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                               | Store Master Funding I-VII XIV XIX XX XXIV XXII                              | CUSIP: 86212XAM2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    495625 | PA      | $506067.92    | 0.28%             | 2054-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM15 Trust                                                         | CUSIP: 67449DAA7<br>LEI: 254900YXEB756F6RCA13 | Long             | ABS-MBS          | CORP              | US        |    240270 | PA      | $242245.59    | 0.13%             | 2064-10-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                               | USD/GBP FORWARD                                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8137.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOEASY LTD                                             | goeasy Ltd                                                                   | CUSIP: 380355AH0<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    700000 | PA      | $720209.70    | 0.39%             | 2028-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                  | Freedom Mortgage Holdings LLC                                                | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    275000 | PA      | $291092.45    | 0.16%             | 2031-05-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2026-NQM1 Trust                                                          | CUSIP: 67123HAA1<br>LEI: 25490068H0VHV68K7086 | Long             | ABS-MBS          | CORP              | US        |    298418 | PA      | $299490.80    | 0.16%             | 2065-11-25      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| Voya Euro CLO                                          | Voya Euro CLO III DAC                                                        | CUSIP: 000000000<br>LEI: 635400K38PBPFZARQW28 | Long             | ABS-CBDO         | CORP              | IE        |    237830 | PA      | $282103.95    | 0.15%             | 2033-04-15      | Floating      | 2.94%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                               | Ares Strategic Income Fund                                                   | CUSIP: 04020EAL1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    400000 | PA      | $403348.80    | 0.22%             | 2028-09-09      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SHRIRAM FINANCE LTD                                    | Shriram Finance Ltd                                                          | CUSIP: 82556FAA0<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |    800000 | PA      | $817913.01    | 0.45%             | 2027-04-22      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CNW7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    320000 | PA      | $317825.00    | 0.17%             | 2032-08-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                                      | Chile Government International Bond                                          | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    350000 | PA      | $414992.69    | 0.23%             | 2036-04-14      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                    | Braskem Netherlands Finance BV                                               | CUSIP: 10554TAD7<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $172880.00    | 0.09%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                    | Synchrony Financial                                                          | CUSIP: 87165BAU7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    280000 | PA      | $297465.96    | 0.16%             | 2033-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US 5YR NOTE (CBT)                                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -206 | NC      | $169783.14    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                               | Ford Motor Credit Co LLC                                                     | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    550000 | PA      | $557857.58    | 0.30%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                   | FS RIALTO                                                                    | CUSIP: 30319YAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1050000 | PA      | $1048722.15   | 0.57%             | 2038-05-16      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LTD                                     | Macquarie Bank Ltd                                                           | CUSIP: 556079AD3<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |    750000 | PA      | $684710.81    | 0.37%             | 2036-03-03      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                               | Standard Building Solutions Inc                                              | CUSIP: 853192AA0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    450000 | PA      | $449860.01    | 0.25%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2025-CES9                                                | CUSIP: 74942JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    758267 | PA      | $759399.27    | 0.41%             | 2055-09-25      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                   | FS Rialto 2026-FL11 Issuer LLC                                               | CUSIP: 30343TAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500692.50    | 0.27%             | 2044-01-19      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                         | Morgan Stanley                                                               | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     40000 | NS      | $1018400.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CGH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    490000 | PA      | $489684.18    | 0.27%             | 2028-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                        | United States Treasury Note/Bond                                             | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2938828.14   | 1.60%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                     | Ally Financial Inc                                                           | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    450000 | PA      | $476490.78    | 0.26%             | 2030-01-03      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.            | US 2YR NOTE (CBT)                                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       229 | NC      | $-56244.23    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| MADISON IAQ LLC                                        | Madison IAQ LLC                                                              | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    475000 | PA      | $474708.64    | 0.26%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                          | United States Treasury Bill                                                  | CUSIP: 912797SW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4830000 | PA      | $4775149.31   | 2.61%             | 2026-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FIN US INC                                  | Stellantis Finance US Inc                                                    | CUSIP: 85855CAA8<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |    800000 | PA      | $781038.29    | 0.43%             | 2027-01-29      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| PALOMINO FUNDING TRUST I                               | Palomino Funding Trust I                                                     | CUSIP: 69754AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $687485.17    | 0.38%             | 2028-05-17      | Fixed         | 7.23%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                            | Extended Stay America Trust 2025-ESH                                         | CUSIP: 30227TAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $201604.24    | 0.11%             | 2042-10-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                             | Fannie Mae Pool                                                              | CUSIP: 3140QPAY3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    951836 | PA      | $915069.66    | 0.50%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                               | Republic of South Africa Government International Bond                       | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    250000 | PA      | $249555.81    | 0.14%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                        | Murphy Oil Corp                                                              | CUSIP: 626717AQ5<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    300000 | PA      | $299057.08    | 0.16%             | 2034-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BRIT COL MUNI FIN AUTH                                 | Municipal Finance Authority of British Columbia                              | CUSIP: 62620DAH4<br>LEI: 549300XJ89QPG8565B79 | Long             | DBT              | NUSS              | CA        |    500000 | PA      | $362181.91    | 0.20%             | 2029-10-09      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                             | Driven Brands Funding LLC                                                    | CUSIP: 26209XAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    548625 | PA      | $548351.68    | 0.30%             | 2055-10-20      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                               | USD/EUR FORWARD                                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $47071.11     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                               | BX Trust 2024-BIO                                                            | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $700804.93    | 0.38%             | 2041-02-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CNTY CA                                        | County of Alameda CA                                                         | CUSIP: 010878BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $879621.80    | 0.48%             | 2033-08-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV                                        | Cemex SAB de CV                                                              | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    225000 | PA      | $236193.75    | 0.13%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| OBSIDIAN ENERGY LTD                                    | Obsidian Energy Ltd                                                          | CUSIP: 674482AE4<br>LEI: 549300DITPHH8W8CK636 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $257683.69    | 0.14%             | 2030-12-03      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                   | M&T Bank Corp                                                                | CUSIP: 55261FAU8<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508155.25    | 0.28%             | 2029-01-16      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| FIBRA PROLOGIS                                         | FIBRA Prologis                                                               | CUSIP: 31575KAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    400000 | PA      | $394880.00    | 0.22%             | 2038-01-14      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2025-CES7                                                | CUSIP: 74943AAA0<br>LEI: 254900E35NYYFOUTHD06 | Long             | ABS-MBS          | CORP              | US        |    397626 | PA      | $402035.33    | 0.22%             | 2055-07-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                               | OBX 2024-NQM14 Trust                                                         | CUSIP: 67119XAC8<br>LEI: 254900C7ZCEHM7Y5MX79 | Long             | ABS-MBS          | CORP              | US        |    269487 | PA      | $270559.33    | 0.15%             | 2064-09-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| MARCOBRE SAC                                           | Marcobre SAC                                                                 | CUSIP: 56625AAA2<br>LEI: 254900BORIUZFCM1XB72 | Long             | DBT              | CORP              | PE        |    250000 | PA      | $248987.50    | 0.14%             | 2036-01-22      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                               | Republic of South Africa Government International Bond                       | CUSIP: 836205BH6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    300000 | PA      | $291560.25    | 0.16%             | 2037-12-11      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $175862.04    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERFLEX INC                                           | Enerflex Inc                                                                 | CUSIP: 29281WAA6<br>LEI: 549300SQCOV1LC1GBK07 | Long             | DBT              | CORP              | US        |    600000 | PA      | $620523.60    | 0.34%             | 2031-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                | Hyundai Capital America                                                      | CUSIP: 44891ACR6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    650000 | PA      | $689555.70    | 0.38%             | 2029-01-16      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Payden Emerging Markets Corporate Bond Fund            | Payden Emerging Markets Corporate Bond Fund                                  | CUSIP: 704329176<br>LEI: 549300YZ4XY581C25P40 | Long             | EC               | RF                | US        |    101806 | NS      | $903018.95    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AREIT CRE Trust                                        | AREIT 2025-CRE11                                                             | CUSIP: 04002DAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    800000 | PA      | $802576.00    | 0.44%             | 2043-07-25      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec                         | American Credit Acceptance Receivables Trust 2024-1                          | CUSIP: 02531AAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $466115.40    | 0.25%             | 2031-11-12      | Fixed         | 7.98%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                 | Clydesdale Acquisition Holdings Inc                                          | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504247.21    | 0.28%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                            | RCKT Mortgage Trust 2025-CES6                                                | CUSIP: 748949AA2<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |    169519 | PA      | $171539.29    | 0.09%             | 2055-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Zaxby's Funding LLC                                    | Zaxbys Funding LLC                                                           | CUSIP: 98920MAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    630300 | PA      | $601545.46    | 0.33%             | 2051-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                            | Extended Stay America Trust 2026-ESH2                                        | CUSIP: 30227WAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $702423.47    | 0.38%             | 2043-02-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                          | United States Treasury Bill                                                  | CUSIP: 912797TN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4050000 | PA      | $3984963.76   | 2.18%             | 2026-07-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                              | IRS USD                                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-125995.75   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGUATE TRUST 2 0                                    | Energuate Trust 2 0                                                          | CUSIP: 29277RAB1<br>LEI: 2549000ZL9MU01FZK194 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $200028.39    | 0.11%             | 2035-09-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                            | Freddie Mac Pool                                                             | CUSIP: 3133KQK47<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1137951 | PA      | $1160402.89   | 0.63%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| C&W SENIOR FINANCE LTD                                 | C&W Senior Finance Ltd                                                       | CUSIP: 12665MAA0<br>LEI: 213800CG16G1YMJRCG10 | Long             | DBT              | CORP              | KY        |    550000 | PA      | $572706.20    | 0.31%             | 2033-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                       | NUMERICABLE US LLC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      6617 | PA      | $6729.78      | 0.00%             | 2031-05-31      | Floating      | 10.55%                | No            |                  2 | On Loan: No      |
| CPPIB OVM MEMBER US LLC                                | CPPIB OVM MEMBER US LLC                                                      | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    246876 | PA      | $247471.11    | 0.14%             | 2031-08-20      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                | Romanian Government International Bond                                       | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    300000 | PA      | $309780.00    | 0.17%             | 2030-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                             | Verus Securitization Trust 2025-1                                            | CUSIP: 92540TAA8<br>LEI: 213800JOKZMXZECMAB50 | Long             | ABS-MBS          | CORP              | US        |    612110 | PA      | $619570.38    | 0.34%             | 2070-01-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                   | Flutter Treasury DAC                                                         | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    300000 | PA      | $304045.01    | 0.17%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FLOWERS FOODS INC                                      | Flowers Foods Inc                                                            | CUSIP: 343498AD3<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498056.89    | 0.27%             | 2035-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                              | Sunoco LP                                                                    | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256572.50    | 0.14%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-27

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

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer