# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0000910472-25-001464
**Filing Date:** 2025-9
**Character Count:** 203147
**Document Hash:** af139aaf8579b8df0f7f93a9ebad0ac5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-001464.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000910472-25-001464

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

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

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22718
- **FILM NUMBER:** 251347234

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

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

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

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

## Nport-Ex

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Shares** |  |  |  |  | **Fair Value** |
|  | **OPEN END FUNDS — 3.1%** | **OPEN END FUNDS — 3.1%** |  |  |  |
|  | **FIXED INCOME - 3.1%** | **FIXED INCOME - 3.1%** |  |  |  |
| 286672 | Fidelity Advisor Floating Rate High Income Fund |  |  |  | &nbsp;&nbsp;&nbsp; $2625912 |
| 422170 | Vanguard High-Yield Corporate Fund, Admiral Class |  |  |  | &nbsp;&nbsp;&nbsp; 2326155 |
|  |  |  |  |  | &nbsp;&nbsp; 4952067 |
|  | **TOTAL OPEN END FUNDS (Cost $5,171,518)** | **TOTAL OPEN END FUNDS (Cost $5,171,518)** |  |  | &nbsp;&nbsp; 4952067 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 19.4%** | **ASSET BACKED SECURITIES — 19.4%** |  |  |  |
|  | **CLO** — **18.5%** | **CLO** — **18.5%** |  |  |  |
| 1500000 | Allegro CLO XV Ltd. Series 1A D1AR<sup>(a),(b)</sup> | TSFR3M + 3.000% | 7.3250 | &nbsp;&nbsp;&nbsp;04/20/38 | 1500835 |
| 1000000 | Balboa Bay Loan Funding 2024-1 Ltd. Series 1A D1<sup>(a),(b)</sup> | TSFR3M + 3.200% | 7.5250 | &nbsp;&nbsp;&nbsp;07/20/37 | 1006280 |
| 500000 | Battalion Clo 17 Ltd. Series 17A CR<sup>(a),(b)</sup> | TSFR3M + 2.250% | 6.5750 | &nbsp;&nbsp;&nbsp;03/09/34 | 500150 |
| 1000000 | Battalion Clo XVI Ltd. Series 16A CR2<sup>(a),(b)</sup> | TSFR3M + 2.000% | 6.3250 | &nbsp;&nbsp;&nbsp;01/20/38 | 1003199 |
| 2000000 | BlueMountain Fuji US Clo II Ltd. Series 2A C<sup>(a),(b)</sup> | TSFR3M + 3.262% | 7.5870 | &nbsp;&nbsp;&nbsp;10/20/30 | 2005006 |
| 500500 | Crown Point CLO IV Ltd. Series 2018-4A B<sup>(a),(b)</sup> | TSFR3M + 1.762% | 6.0870 | &nbsp;&nbsp;&nbsp;04/20/31 | 500845 |
| 1000000 | Dryden 55 CLO Ltd. Series 2018-55A D<sup>(a),(b)</sup> | TSFR3M + 3.112% | 7.4290 | &nbsp;&nbsp;&nbsp;04/15/31 | 1000338 |
| 1500000 | Greenwood Park CLO Ltd. Series 2018-1A D<sup>(a),(b)</sup> | TSFR3M + 2.762% | 7.0790 | &nbsp;&nbsp;&nbsp;04/15/31 | 1505468 |
| 1000000 | ICG US Clo 2021-3 Ltd. Series 3A CR<sup>(a),(b)</sup> | TSFR3M + 2.100% | 6.4250 | &nbsp;&nbsp;&nbsp;10/20/34 | 1001408 |
| 500000 | Madison Park Funding XLV Ltd. Series 45A CRR<sup>(a),(b)</sup> | TSFR3M + 1.900% | 6.2180 | &nbsp;&nbsp;&nbsp;07/15/34 | 500733 |
| 2400000 | Man GLG US CLO Series 2018-1A BR<sup>(a),(b)</sup> | TSFR3M + 2.232% | 6.5570 | &nbsp;&nbsp;&nbsp;04/22/30 | 2414171 |
| 1000000 | Octagon Investment Partners 32 Ltd. Series 1A A2R3<sup>(a),(b)</sup> | TSFR3M + 1.600% | 5.9180 | &nbsp;&nbsp;&nbsp;10/31/37 | 1000560 |
| 1000000 | Octagon Investment Partners 46 Ltd. Series 2A DR<sup>(a),(b)</sup> | TSFR3M + 3.562% | 7.8790 | &nbsp;&nbsp;&nbsp;07/15/36 | 998037 |
| 1500000 | Rockford Tower CLO 2017-1 Ltd. Series 2017-1A DR2B<sup>(a),(b)</sup> | TSFR3M + 5.242% | 9.5670 | &nbsp;&nbsp;&nbsp;04/20/34 | 1508385 |
| 2000000 | Sound Point CLO II Ltd. Series 2013-1A A3R<sup>(a),(b)</sup> | TSFR3M + 2.112% | 6.4250 | &nbsp;&nbsp;&nbsp;01/26/31 | 2004066 |
| 342253 | Steele Creek CLO Ltd. Series 2014-1RA B<sup>(a),(b)</sup> | TSFR3M + 1.762% | 6.0870 | &nbsp;&nbsp;&nbsp;04/21/31 | 343174 |
| 1000000 | TCW CLO 2017-1A Ltd. Series 1A A2R3<sup>(a),(b)</sup> | TSFR3M + 1.450% | 5.7640 | &nbsp;&nbsp;&nbsp;10/29/34 | 1000495 |
| 2000000 | Venture 33 CLO Ltd. Series 33A D<sup>(a),(b)</sup> | TSFR3M + 3.422% | 7.7390 | &nbsp;&nbsp;&nbsp;07/15/31 | 1906684 |
| 1000000 | Venture XV CLO Ltd. Series 2013-15A DR2<sup>(a),(b)</sup> | TSFR3M + 4.182% | 8.4990 | &nbsp;&nbsp;&nbsp;07/15/32 | 994513 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 19.4% (Continued)** | **ASSET BACKED SECURITIES — 19.4% (Continued)** |  |  |  |
|  | **CLO** — **18.5% (Continued)** | **CLO** — **18.5% (Continued)** |  |  |  |
| 2750000 | Voya CLO Ltd. Series 2018-1A C<sup>(a),(b)</sup> | TSFR3M + 2.862% | 7.1870 | &nbsp;&nbsp;&nbsp;04/19/31 | $2758777 |
| 2000000 | Wind River 2021-3 CLO Ltd. Series 3A D1AR<sup>(a),(b)</sup> | TSFR3M + 3.000% | 7.3250 | &nbsp;&nbsp;&nbsp;04/20/38 | 1979904 |
| 2000000 | Zais Matrix CDO I Series 2022-18A D1<sup>(a),(b)</sup> | TSFR3M + 4.670% | 8.9880 | &nbsp;&nbsp;&nbsp;01/25/35 | 1992242 |
|  |  |  |  |  | 29425270 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.2%** |  |  |  |
| 121498 | Alternative Loan Trust Series 2004-35T2 A4<sup>(c)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;02/25/35 | 21128 |
| 3195 | Banc of America Mortgage Trust Series 2004-A 2A4<sup>(b)</sup> |  | 5.9040 | &nbsp;&nbsp;&nbsp;02/25/34 | 3161 |
| 5400661 | BCAP, LLC Trust Series 2007-AA2 21IO<sup>(b),(c)</sup> |  | 0.4200 | &nbsp;&nbsp;&nbsp;04/25/37 | 58881 |
| 6346 | Bear Stearns ARM Trust Series 2003-4 3A1<sup>(b)</sup> |  | 6.4140 | &nbsp;&nbsp;&nbsp;07/25/33 | 6133 |
| 3137 | Bear Stearns Asset Backed Securities Trust Series 2003-AC5 A2<sup>(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;10/25/33 | 3157 |
| 462 | Chase Mortgage Finance Trust Series Series 2007-A1 7A1<sup>(b)</sup> |  | 7.2910 | &nbsp;&nbsp;&nbsp;02/25/37 | 464 |
| 17416 | CHL Mortgage Pass-Through Trust Series 2004-7 3A1<sup>(b)</sup> |  | 5.4730 | &nbsp;&nbsp;&nbsp;05/25/34 | 16648 |
| 4705 | Citigroup Global Markets Mortgage Securities VII, Inc. Series 2003-1 A2<sup>(a)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;09/25/33 | 2177 |
| 2733 | Deutsche Mortgage Securities, Inc. Mortgage Loan Trust Series 2004-4 7AR2<sup>(b)</sup> | TSFR1M + 0.564% | 4.9170 | &nbsp;&nbsp;&nbsp;06/25/34 | 2560 |
| 18007 | GSR Mortgage Loan Trust Series 2004-2F 7A2<sup>(b),(c)</sup> | TSFR1M + 7.536% | 3.1830 | &nbsp;&nbsp;&nbsp;01/25/34 | 482 |
| 5494 | GSR Mortgage Loan Trust Series 2004-6F 2A6 |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/25/34 | 5529 |
| 3509 | Impac CMB Trust Series 2004-4 1M3<sup>(b)</sup> | TSFR1M + 1.014% | 5.3670 | &nbsp;&nbsp;&nbsp;09/25/34 | 3499 |
| 14207 | Impac CMB Trust Series 2004-6 M1<sup>(b)</sup> | TSFR1M + 1.034% | 5.2920 | &nbsp;&nbsp;&nbsp;10/25/34 | 13805 |
| 1780 | Impac CMB Trust Series 2004-5 1A3<sup>(b)</sup> | TSFR1M + 0.939% | 5.3870 | &nbsp;&nbsp;&nbsp;10/25/34 | 1769 |
| 12675 | JP Morgan Mortgage Trust Series 2005-A1 3A5<sup>(b)</sup> |  | 5.6410 | &nbsp;&nbsp;&nbsp;02/25/35 | 11965 |
| 10134 | MASTR Alternative Loan Trust Series 2003-7 6A1 |  | 6.5000 | &nbsp;&nbsp;&nbsp;12/25/33 | 10189 |
| 390631 | MASTR Alternative Loan Trust Series 2007-HF1 4AX<sup>(c)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;10/25/47 | 72098 |
| 2889 | Morgan Stanley Mortgage Loan Trust Series 2004-7AR 2A6<sup>(b)</sup> |  | 5.6980 | &nbsp;&nbsp;&nbsp;09/25/34 | 2857 |
| 7117 | Morgan Stanley Mortgage Loan Trust Series 2004-10AR 4A<sup>(b)</sup> |  | 6.9680 | &nbsp;&nbsp;&nbsp;11/25/34 | 6719 |
| 51759 | Wilshire Funding Corporation Series 1997-WFC1 M3<sup>(b)</sup> |  | 7.2500 | &nbsp;&nbsp;&nbsp;08/25/27 | 50918 |
|  |  |  |  |  | 294139 |
|  | **HOME EQUITY** — **0.4%** | **HOME EQUITY** — **0.4%** |  |  |  |
| 22286 | Aames Mortgage Trust Mortgage Pass Through Certs Series 2001-1 M2<sup>(d)</sup> |  | 8.0880 | &nbsp;&nbsp;&nbsp;06/25/31 | 22180 |
| 3892 | AFC Trust Series 2000-1 1A<sup>(b)</sup> | TSFR1M + 0.844% | 5.1970 | &nbsp;&nbsp;&nbsp;03/25/30 | 3876 |
| 113 | Ameriquest Mortgage Securities Asset-Backed Pass-Through Ctfs Series 2003-11 AF6<sup>(d)</sup> |  | 5.3260 | &nbsp;&nbsp;&nbsp;12/25/33 | 246 |
| 135000 | Bear Stearns Asset Backed Securities I Trust Series 2004-BO1 M9B<sup>(b)</sup> | TSFR1M + 6.114% | 10.4670 | &nbsp;&nbsp;&nbsp;10/25/34 | 135984 |
| 15591 | Bear Stearns Asset Backed Securities Trust Series 2003-ABF1 A<sup>(b)</sup> | TSFR1M + 0.854% | 5.2070 | &nbsp;&nbsp;&nbsp;01/25/34 | 15362 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 19.4% (Continued)** | **ASSET BACKED SECURITIES — 19.4% (Continued)** |  |  |  |
|  | **HOME EQUITY**— **0.4% (Continued)** | **HOME EQUITY**— **0.4% (Continued)** |  |  |  |
| 100188 | CDC Mortgage Capital Trust Series 2004-HE1 M2<sup>(b)</sup> | TSFR1M + 1.914% | 6.2670 | &nbsp;&nbsp;&nbsp;06/25/34 | $100327 |
| 86186 | CDC Mortgage Capital Trust Series 2004-HE3 M2<sup>(b)</sup> | TSFR1M + 1.914% | 6.2670 | &nbsp;&nbsp;&nbsp;11/25/34 | 84617 |
| 18946 | Credit Suisse First Boston Mortgage Securities Corporation Series 2001-HE8 A1<sup>(d)</sup> |  | 6.9900 | &nbsp;&nbsp;&nbsp;02/25/31 | 18691 |
| 3845 | Meritage Mortgage Loan Trust Series 2003-1 M2<sup>(b)</sup> | TSFR1M + 2.439% | 6.7920 | &nbsp;&nbsp;&nbsp;11/25/33 | 3873 |
| 28884 | Meritage Mortgage Loan Trust Series 2003-1 M3<sup>(b)</sup> | TSFR1M + 2.814% | 7.1670 | &nbsp;&nbsp;&nbsp;11/25/33 | 28788 |
| 17020 | Merrill Lynch Mortgage Investors Trust Series 2003-OPT1 M2<sup>(b)</sup> | TSFR1M + 2.289% | 6.6420 | &nbsp;&nbsp;&nbsp;07/25/34 | 13537 |
| 11125 | New Century Home Equity Loan Trust Series 2003-A M1<sup>(a),(b)</sup> | TSFR1M + 1.239% | 5.5910 | &nbsp;&nbsp;&nbsp;10/25/33 | 12576 |
| 1843 | NovaStar Mortgage Funding Trust Series 2004-1 M5<sup>(b)</sup> | TSFR1M + 1.689% | 6.0420 | &nbsp;&nbsp;&nbsp;06/25/34 | 1784 |
| 9910 | Option One Mortgage Loan Trust Series 2003-5 A2<sup>(b)</sup> | TSFR1M + 0.754% | 5.1070 | &nbsp;&nbsp;&nbsp;08/25/33 | 10320 |
| 54359 | RASC Series Trust Series 2003-KS4 MI1<sup>(d)</sup> |  | 4.6100 | &nbsp;&nbsp;&nbsp;06/25/33 | 54214 |
| 11440 | Saxon Asset Securities Trust Series 2003-3 M2<sup>(b)</sup> | TSFR1M + 2.514% | 6.8670 | &nbsp;&nbsp;&nbsp;12/25/33 | 10371 |
| 47506 | Terwin Mortgage Trust Series TMTS Series 2003-2HE M2<sup>(b)</sup> | TSFR1M + 3.334% | 0.5010 | &nbsp;&nbsp;&nbsp;07/25/34 | 58811 |
|  |  |  |  |  | 575557 |
|  | **MANUFACTURED HOUSING** — **0.0%<sup>(e)</sup>** | **MANUFACTURED HOUSING** — **0.0%<sup>(e)</sup>** |  |  |  |
| 1569 | Conseco Finance Corporation Series 1997-1 M1<sup>(b)</sup> |  | 7.2200 | &nbsp;&nbsp;&nbsp;03/15/28 | 1578 |
|  | **RESIDENTIAL MORTGAGE** — **0.3%** | **RESIDENTIAL MORTGAGE** — **0.3%** |  |  |  |
| 86080 | Credit-Based Asset Servicing and Securitization, LLC Series 2004-CB3 B1<sup>(b)</sup> | TSFR1M + 2.889% | 3.0970 | &nbsp;&nbsp;&nbsp;03/25/34 | 105499 |
| 46752 | Credit-Based Asset Servicing and Securitization, LLC Series 2004-CB6 M2<sup>(b)</sup> | TSFR1M + 1.839% | 4.5090 | &nbsp;&nbsp;&nbsp;07/25/35 | 44869 |
| 31524 | CWABS, Inc. Asset-Backed Certificates Trust Series 2004-6 2A4<sup>(b)</sup> | TSFR1M + 1.014% | 5.3670 | &nbsp;&nbsp;&nbsp;11/25/34 | 30595 |
| 21837 | CWABS, Inc. Asset-Backed Certificates Trust Series 2A3 2A3<sup>(b)</sup> | TSFR1M + 1.314% | 5.6670 | &nbsp;&nbsp;&nbsp;11/25/34 | 21557 |
| 9849 | Equity One Mortgage Pass-Through Trust Series 2002-5 M1<sup>(d)</sup> |  | 5.8030 | &nbsp;&nbsp;&nbsp;11/25/32 | 10065 |
| 8694 | First Franklin Mortgage Loan Trust Series 2002-FF1 1A2<sup>(b)</sup> | TSFR1M + 1.239% | 5.5680 | &nbsp;&nbsp;&nbsp;04/25/32 | 9258 |
| 14313 | Long Beach Mortgage Loan Trust Series 2003-2 M2<sup>(b)</sup> | TSFR1M + 2.964% | 7.3170 | &nbsp;&nbsp;&nbsp;06/25/33 | 16294 |
| 19996 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2004-NC7 M4<sup>(b)</sup> | TSFR1M + 1.839% | 6.1920 | &nbsp;&nbsp;&nbsp;07/25/34 | 23118 |
| 109279 | Structured Asset Securities Corporation Series 2005-WF1 M7<sup>(b)</sup> | TSFR1M + 2.019% | 6.3720 | &nbsp;&nbsp;&nbsp;02/25/35 | 114940 |
| 143305 | Structured Asset Securities Corporation Series 2005-WF1 M8<sup>(b)</sup> | TSFR1M + 2.169% | 6.5220 | &nbsp;&nbsp;&nbsp;02/25/35 | 149528 |
|  |  |  |  |  | 525723 |
|  | **TOTAL ASSET BACKED SECURITIES (Cost $30,561,666)** | **TOTAL ASSET BACKED SECURITIES (Cost $30,561,666)** |  |  | 30822267 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2%** |  |  |  |
| 101207 | Fannie Mae Interest Strip<sup>(c)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;08/25/35 | $15143 |
| 224701 | Fannie Mae Interest Strip Series 384 2<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;07/25/37 | 26122 |
| 332939 | Fannie Mae Interest Strip Series 385 3<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;01/25/38 | 51681 |
| 818275 | Fannie Mae Interest Strip Series 407 40<sup>(c)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;01/25/38 | 159643 |
| 209917 | Fannie Mae Interest Strip Series 418 141<sup>(b),(c)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/25/39 | 32148 |
| 212194 | Fannie Mae Interest Strip Series 418 147<sup>(b),(c)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/39 | 33862 |
| 97352 | Fannie Mae Interest Strip Series 409 80<sup>(b),(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;11/25/39 | 18405 |
| 404688 | Fannie Mae Interest Strip Series 408 9<sup>(b),(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/25/40 | 74289 |
| 269773 | Fannie Mae Interest Strip Series 409 83<sup>(b),(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;11/25/40 | 44059 |
| 1046632 | Fannie Mae Interest Strip Series 406 15<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/25/40 | 229160 |
| 175679 | Fannie Mae Interest Strip Series 409 C13<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;11/25/41 | 29523 |
| 118959 | Fannie Mae Interest Strip Series 409 64<sup>(b),(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;11/25/41 | 19012 |
| 154936 | Fannie Mae Interest Strip Series 413 126<sup>(b),(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;07/25/42 | 24789 |
| 151733 | Fannie Mae Interest Strip Series 413 177<sup>(b),(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;07/25/42 | 27365 |
| 310269 | Fannie Mae Interest Strip Series 413 155<sup>(b),(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;07/25/42 | 55983 |
| 767813 | Fannie Mae Interest Strip Series 417 C24<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/42 | 98716 |
| 339907 | Fannie Mae Interest Strip Series 419 C3<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;11/25/43 | 46014 |
| 449510 | Fannie Mae Interest Strip Series 426 292<sup>(b),(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;08/25/51 | 72837 |
| 273531 | Fannie Mae REMICS Series 2004-70 XJ<sup>(b),(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/25/34 | 37256 |
| 453504 | Fannie Mae REMICS Series 2006-109 SG<sup>(b),(c)</sup> | SOFR30A + 6.516% | 2.1660 | &nbsp;&nbsp;&nbsp;11/25/36 | 40122 |
| 186538 | Fannie Mae REMICS Series 2007-39 AI<sup>(b),(c)</sup> | SOFR30A + 6.006% | 1.6560 | &nbsp;&nbsp;&nbsp;05/25/37 | 16452 |
| 128052 | Fannie Mae REMICS Series 2007-92 SK<sup>(b),(c)</sup> | SOFR30A + 6.336% | 1.9860 | &nbsp;&nbsp;&nbsp;09/25/37 | 13671 |
| 135904 | Fannie Mae REMICS Series 2007-112 SA<sup>(b),(c)</sup> | SOFR30A + 6.335% | 1.9860 | &nbsp;&nbsp;&nbsp;12/25/37 | 15919 |
| 28740 | Fannie Mae REMICS Series 2009-31 PI<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;11/25/38 | 365 |
| 329052 | Fannie Mae REMICS Series 2009-101 MI<sup>(c)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;12/25/39 | 29558 |
| 366307 | Fannie Mae REMICS Series 2009-113 XI<sup>(b),(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;01/25/40 | 54142 |
| 441531 | Fannie Mae REMICS Series 2010-150 SP<sup>(b),(c)</sup> | SOFR30A + 6.486% | 2.1360 | &nbsp;&nbsp;&nbsp;10/25/40 | 36928 |
| 1294282 | Fannie Mae REMICS Series 2011-149 MS<sup>(b),(c)</sup> | SOFR30A + 5.886% | 1.5360 | &nbsp;&nbsp;&nbsp;11/25/41 | 62065 |
| 108301 | Fannie Mae REMICS Series 2012-84 KI<sup>(b),(c)</sup> | SOFR30A + 6.000% | 6.0000 | &nbsp;&nbsp;&nbsp;08/25/42 | 16457 |
| 139935 | Fannie Mae REMICS Series 2013-10 SJ<sup>(b),(c)</sup> | SOFR30A + 6.036% | 1.6860 | &nbsp;&nbsp;&nbsp;02/25/43 | 14573 |
| 394287 | Fannie Mae REMICS Series 2014-68 IB<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;02/25/43 | 42260 |
| 57701 | Fannie Mae REMICS Series 2015-16 IN<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;09/25/43 | 1260 |
| 1048717 | Fannie Mae REMICS Series 2013-103 JS<sup>(b),(c)</sup> | SOFR30A + 5.886% | 1.5360 | &nbsp;&nbsp;&nbsp;10/25/43 | 98369 |
| 136811 | Fannie Mae REMICS Series 2015-22 BS<sup>(b),(c)</sup> | SOFR30A + 6.036% | 4.5980 | &nbsp;&nbsp;&nbsp;04/25/45 | 14791 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2% (Continued)** |  |  |  |
| 6384390 | Fannie Mae REMICS Series 2015-40 LT<sup>(b),(c)</sup> | SOFR30A + 6.086% | 0.0300 | &nbsp;&nbsp;&nbsp;06/25/45 | $9841 |
| 1920754 | Fannie Mae REMICS Series 2015-34 HI<sup>(c)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/25/45 | 421883 |
| 80768 | Fannie Mae REMICS Series 2017-78 KI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/25/47 | 14551 |
| 49007 | Fannie Mae REMICS Series 2018-37 CI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;10/25/47 | 898 |
| 929146 | Fannie Mae REMICS Series 2017-97 SW<sup>(b),(c)</sup> | SOFR30A + 6.086% | 1.7360 | &nbsp;&nbsp;&nbsp;12/25/47 | 110400 |
| 150816 | Fannie Mae REMICS Series 2018-2 LI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/47 | 14442 |
| 289891 | Fannie Mae REMICS Series 2017-99 DI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/47 | 37987 |
| 258531 | Fannie Mae REMICS Series 2018-31 IO<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;12/25/47 | 50066 |
| 954876 | Fannie Mae REMICS Series 2018-16 MI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/25/48 | 194890 |
| 186569 | Fannie Mae REMICS Series 2018-34 CI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;05/25/48 | 31848 |
| 229895 | Fannie Mae REMICS Series 2018-35 KI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;05/25/48 | 39282 |
| 992584 | Fannie Mae REMICS Series 2018-54 SA<sup>(b),(c)</sup> | SOFR30A + 6.136% | 1.7860 | &nbsp;&nbsp;&nbsp;08/25/48 | 92250 |
| 395439 | Fannie Mae REMICS Series 2018-74 MI<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/25/48 | 77499 |
| 573484 | Fannie Mae REMICS Series 2019-44 IC<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;08/25/49 | 79707 |
| 209898 | Fannie Mae REMICS Series 2021-27 GI<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;05/25/51 | 55802 |
| 960766 | Fannie Mae REMICS Series 2020-10 S<sup>(b),(c)</sup> | SOFR30A + 5.936% | 1.5860 | &nbsp;&nbsp;&nbsp;05/25/59 | 108036 |
| 12588 | Freddie Mac REMICS Series 2433 SA<sup>(b)</sup> | SOFR30A + 20.632% | 9.3490 | &nbsp;&nbsp;&nbsp;02/15/32 | 14776 |
| 619812 | Freddie Mac REMICS Series 5112 IB<sup>(c)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;05/15/32 | 68464 |
| 174262 | Freddie Mac REMICS Series 4394 BI<sup>(c)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;07/15/37 | 22435 |
| 47670 | Freddie Mac REMICS Series 4419 EI<sup>(c)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;10/15/37 | 5274 |
| 3022521 | Freddie Mac REMICS Series 4669 TI<sup>(b),(c)</sup> | SOFR30A + 5.986% | 0.1000 | &nbsp;&nbsp;&nbsp;09/15/40 | 5587 |
| 82365 | Freddie Mac REMICS Series 3772 SA<sup>(b)</sup> | SOFR30A + 14.567% | 1.5480 | &nbsp;&nbsp;&nbsp;12/15/40 | 59298 |
| 280948 | Freddie Mac REMICS Series 3935 SH<sup>(b),(c)</sup> | SOFR30A + 6.486% | 2.1460 | &nbsp;&nbsp;&nbsp;12/15/40 | 4208 |
| 157678 | Freddie Mac REMICS Series 4076 SW<sup>(b),(c)</sup> | SOFR30A + 5.936% | 1.5960 | &nbsp;&nbsp;&nbsp;07/15/42 | 15493 |
| 102250 | Freddie Mac REMICS Series 4139 PO<sup>(f)</sup> |  | 2.4700 | &nbsp;&nbsp;&nbsp;08/15/42 | 67179 |
| 207273 | Freddie Mac REMICS Series 4091 ES<sup>(b),(c)</sup> | SOFR30A + 6.436% | 2.0960 | &nbsp;&nbsp;&nbsp;08/15/42 | 29451 |
| 407091 | Freddie Mac REMICS Series 4197 IG<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;04/15/43 | 49781 |
| 9216597 | Freddie Mac REMICS Series 4765 SI<sup>(b)(c)</sup> |  | 0.2050 | &nbsp;&nbsp;&nbsp;08/15/44 | 77441 |
| 273340 | Freddie Mac REMICS Series 4416 DS<sup>(b),(c)</sup> | SOFR30A + 5.985% | 1.6460 | &nbsp;&nbsp;&nbsp;12/15/44 | 31402 |
| 225292 | Freddie Mac REMICS Series 4480 IN<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/15/45 | 34710 |
| 265373 | Freddie Mac REMICS Series 4473 AS<sup>(b),(c)</sup> | SOFR30A + 5.486% | 1.1460 | &nbsp;&nbsp;&nbsp;05/15/45 | 25289 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2% (Continued)** |  |  |  |
| 96694 | Freddie Mac REMICS Series 4591 QI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/15/46 | $17487 |
| 709781 | Freddie Mac REMICS Series 4583 ST<sup>(b),(c)</sup> | SOFR30A + 5.886% | 1.5460 | &nbsp;&nbsp;&nbsp;05/15/46 | 72342 |
| 598286 | Freddie Mac REMICS Series 4699 NI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;12/15/46 | 73542 |
| 164100 | Freddie Mac REMICS Series 4792 AI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;05/15/48 | 28892 |
| 939908 | Freddie Mac REMICS Series 4827 BI<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;09/15/48 | 146416 |
| 329302 | Freddie Mac REMICS Series 5093 NI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;08/25/49 | 66337 |
| 724776 | Freddie Mac REMICS Series 5022 IO<sup>(c)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;09/25/50 | 123289 |
| 407725 | Freddie Mac REMICS Series 5023 MI<sup>(c)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;10/25/50 | 68292 |
| 421110 | Freddie Mac REMICS Series 5086 IW<sup>(c)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;03/25/51 | 60809 |
| 296843 | Freddie Mac REMICS Series 5082 HI<sup>(c)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;03/25/51 | 39443 |
| 799245 | Freddie Mac REMICS Series 5086 HI<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;03/25/51 | 175261 |
| 1168028 | Freddie Mac REMICS Series 5174 NI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/51 | 204138 |
| 301816 | Freddie Mac REMICS Series 4291 MS<sup>(b),(c)</sup> | SOFR30A + 5.786% | 1.4460 | &nbsp;&nbsp;&nbsp;01/15/54 | 29525 |
| 31605 | Freddie Mac Strips Series 202 IO<sup>(c)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;04/01/29 | 2697 |
| 434900 | Freddie Mac Strips Series 256 50<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;06/15/38 | 53851 |
| 156051 | Freddie Mac Strips Series 303 181<sup>(b),(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;12/15/39 | 18590 |
| 159978 | Freddie Mac Strips Series 303 175<sup>(b),(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;12/15/40 | 21552 |
| 229868 | Freddie Mac Strips Series 303 141<sup>(b),(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;01/15/43 | 35140 |
| 462673 | Freddie Mac Strips Series 324 C24<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/15/43 | 98184 |
| 525968 | Freddie Mac Strips Series 365 C10<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;06/15/49 | 107284 |
| 4450 | Government National Mortgage Association Series 2011-157 AI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;12/16/26 | 45 |
| 438688 | Government National Mortgage Association Series 2021-78 QI<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;05/20/34 | 36190 |
| 2074261 | Government National Mortgage Association Series 2009-87 IW<sup>(b),(c)</sup> | TSFR1M + 6.736% | 2.3850 | &nbsp;&nbsp;&nbsp;07/20/34 | 61777 |
| 5136502 | Government National Mortgage Association Series 2014-94 JI<sup>(b),(c)</sup> | TSFR1M + 6.586% | 0.1500 | &nbsp;&nbsp;&nbsp;09/16/34 | 21604 |
| 616393 | Government National Mortgage Association Series 2007-26 SD<sup>(b),(c)</sup> | TSFR1M + 6.686% | 2.3460 | &nbsp;&nbsp;&nbsp;05/16/37 | 68517 |
| 3812086 | Government National Mortgage Association Series 2017-60 SA<sup>(b),(c)</sup> | TSFR1M + 6.576% | 2.2250 | &nbsp;&nbsp;&nbsp;10/20/37 | 161239 |
| 1081917 | Government National Mortgage Association Series 2008-60 SH<sup>(b),(c)</sup> | TSFR1M + 6.036% | 1.6960 | &nbsp;&nbsp;&nbsp;07/16/38 | 16496 |
| 728692 | Government National Mortgage Association Series 2017-88 IB<sup>(c)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;02/20/39 | 96617 |
| 101569 | Government National Mortgage Association Series 2009-61 AS<sup>(b),(c)</sup> | TSFR1M + 5.986% | 1.6350 | &nbsp;&nbsp;&nbsp;03/20/39 | 519 |
| 600416 | Government National Mortgage Association Series 2009-69 IV<sup>(c)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;08/20/39 | 79744 |
| 1963749 | Government National Mortgage Association Series 2010-29 SA<sup>(b),(c)</sup> | TSFR1M + 6.436% | 2.0850 | &nbsp;&nbsp;&nbsp;10/20/39 | 230636 |
| 194003 | Government National Mortgage Association Series 2013-90 AI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/20/39 | 2671 |
| 628580 | Government National Mortgage Association Series 2017-60 SU<sup>(b),(c)</sup> | TSFR1M + 6.286% | 1.9460 | &nbsp;&nbsp;&nbsp;01/16/40 | 53643 |
| 744534 | Government National Mortgage Association Series 2013-20 IM<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;04/20/40 | 114041 |
| 1063894 | Government National Mortgage Association Series 2017-160 TI<sup>(b),(c)</sup> |  | 0.5000 | &nbsp;&nbsp;&nbsp;06/20/40 | 16287 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2% (Continued)** |  |  |  |
| 954778 | Government National Mortgage Association Series 2010-133 SB<sup>(b),(c)</sup> | TSFR1M + 5.906% | 1.5660 | &nbsp;&nbsp;&nbsp;10/16/40 | $109280 |
| 160493 | Government National Mortgage Association Series 2019-22 HI<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/16/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19151 |
| 1581504 | Government National Mortgage Association Series 2010-166 SA<sup>(b),(c)</sup> | TSFR1M + 5.936% | 1.5960 | &nbsp;&nbsp;&nbsp;12/16/40 | 182913 |
| 241033 | Government National Mortgage Association Series 2012-69 QI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/16/41 | 24994 |
| 149821 | Government National Mortgage Association Series 2011-68 EI<sup>(c)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;04/20/41 | 14545 |
| 45412 | Government National Mortgage Association Series 2013-75 GI<sup>(c)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;06/20/41 | 145 |
| 119222 | Government National Mortgage Association Series 2015-44 AI<sup>(c)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;08/20/41 | 435 |
| 218396 | Government National Mortgage Association Series 2012-108 PS<sup>(b),(c)</sup> | TSFR1M + 6.636% | 2.2960 | &nbsp;&nbsp;&nbsp;03/16/42 | 26915 |
| 899572 | Government National Mortgage Association Series 2013-4 ID<sup>(c)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/16/42 | 162088 |
| 146602 | Government National Mortgage Association Series 2012-149 GI<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;07/20/42 | 12436 |
| 314468 | Government National Mortgage Association Series 2012-98 HS<sup>(b),(c)</sup> | TSFR1M + 5.885% | 1.5350 | &nbsp;&nbsp;&nbsp;08/20/42 | 31656 |
| 750635 | Government National Mortgage Association Series 2012-126 IO<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/20/42 | 105271 |
| 392935 | Government National Mortgage Association Series 2012-140 IC<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;11/20/42 | 63892 |
| 223707 | Government National Mortgage Association Series 2012-149 CS<sup>(b),(c)</sup> | TSFR1M + 6.086% | 1.7350 | &nbsp;&nbsp;&nbsp;12/20/42 | 16898 |
| 66052 | Government National Mortgage Association Series 2013-5 BI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;01/20/43 | 10385 |
| 315143 | Government National Mortgage Association Series 2013-20 KI<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;01/20/43 | 56296 |
| 885803 | Government National Mortgage Association Series 2013-144 AS<sup>(b),(c)</sup> | TSFR1M + 6.636% | 2.2850 | &nbsp;&nbsp;&nbsp;03/20/43 | 11682 |
| 335413 | Government National Mortgage Association Series 2013-82 IG<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;05/20/43 | 48877 |
| 480169 | Government National Mortgage Association Series 2019-22 EI<sup>(b),(c)</sup> |  | 1.0000 | &nbsp;&nbsp;&nbsp;07/20/43 | 9962 |
| 65876 | Government National Mortgage Association Series 2013-103 DS<sup>(b),(c)</sup> | TSFR1M + 6.036% | 1.6850 | &nbsp;&nbsp;&nbsp;07/20/43 | 7620 |
| 280956 | Government National Mortgage Association Series 2013-189 PS<sup>(b),(c)</sup> | TSFR1M + 6.036% | 1.6850 | &nbsp;&nbsp;&nbsp;07/20/43 | 24914 |
| 591181 | Government National Mortgage Association Series 2013-122 SB<sup>(b),(c)</sup> | TSFR1M + 5.986% | 1.6460 | &nbsp;&nbsp;&nbsp;08/16/43 | 64779 |
| 8113507 | Government National Mortgage Association Series 2019-21 SI<sup>(b),(c)</sup> |  | 0.2660 | &nbsp;&nbsp;&nbsp;10/20/43 | 56087 |
| 181299 | Government National Mortgage Association Series 2014-132 SL<sup>(b),(c)</sup> | TSFR1M + 5.986% | 1.6350 | &nbsp;&nbsp;&nbsp;10/20/43 | 8967 |
| 136434 | Government National Mortgage Association Series 2013-181 SA<sup>(b),(c)</sup> | TSFR1M + 5.986% | 1.6350 | &nbsp;&nbsp;&nbsp;11/20/43 | 14800 |
| 275629 | Government National Mortgage Association Series 2014-91 SB<sup>(b),(c)</sup> | TSFR1M + 5.486% | 1.1460 | &nbsp;&nbsp;&nbsp;06/16/44 | 20957 |
| 91339 | Government National Mortgage Association Series 2014-133 BS<sup>(b),(c)</sup> | TSFR1M + 5.486% | 1.1350 | &nbsp;&nbsp;&nbsp;09/20/44 | 8109 |
| 464706 | Government National Mortgage Association Series 2019-22 SA<sup>(b),(c)</sup> | TSFR1M + 5.486% | 1.1350 | &nbsp;&nbsp;&nbsp;02/20/45 | 41045 |
| 111044 | Government National Mortgage Association Series 2017-99 DI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;07/20/45 | 4683 |
| 386508 | Government National Mortgage Association Series 2017-112 KI<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;08/20/45 | 36053 |
| 499154 | Government National Mortgage Association Series 2016-163 KI<sup>(c)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;08/20/45 | 38245 |
| 285376 | Government National Mortgage Association Series 2017-130 LI<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/16/45 | 21727 |
| 1887777 | Government National Mortgage Association Series 2019-22 CI<sup>(b),(c)</sup> | TSFR1M + 30.678% | 1.0000 | &nbsp;&nbsp;&nbsp;10/20/45 | 88579 |
| 257991 | Government National Mortgage Association Series 2015-179 GS<sup>(b),(c)</sup> | TSFR1M + 6.636% | 2.2850 | &nbsp;&nbsp;&nbsp;12/20/45 | 37676 |
| 90479 | Government National Mortgage Association Series 2016-54 PI<sup>(c)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;04/20/46 | 8873 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 5.2% (Continued)** |  |  |  |
| 267049 | Government National Mortgage Association Series 2016-46 IO<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/20/46 | $42799 |
| 65501 | Government National Mortgage Association Series 2017-101 ID<sup>(c)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;04/20/46 | 4465 |
| 163735 | Government National Mortgage Association Series 2016-81 IO<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;06/20/46 | 30607 |
| 827408 | Government National Mortgage Association Series 2016-121 JS<sup>(b),(c)</sup> | TSFR1M + 5.986% | 1.6350 | &nbsp;&nbsp;&nbsp;09/20/46 | 103288 |
| 288035 | Government National Mortgage Association Series 2016-116 IJ<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;09/20/46 | 30341 |
| 116987 | Government National Mortgage Association Series 2019-11 MI<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;11/20/46 | 5882 |
| 149757 | Government National Mortgage Association Series 2017-114 CI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;03/20/47 | 10895 |
| 10993 | Government National Mortgage Association Series 2017-141 ID<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;07/20/47 | 1522 |
| 299690 | Government National Mortgage Association Series 2018-18 BI<sup>(c)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;11/20/47 | 24931 |
| 718214 | Government National Mortgage Association Series 2017-179 KS<sup>(b),(c)</sup> | TSFR1M + 6.086% | 1.7350 | &nbsp;&nbsp;&nbsp;12/20/47 | 92760 |
| 118088 | Government National Mortgage Association Series 2017-179 WI<sup>(c)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/20/47 | 27054 |
| 285591 | Government National Mortgage Association Series 2018-1 IP<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;01/20/48 | 30249 |
| 16717798 | Government National Mortgage Association Series 2020-86 TK<sup>(b),(c)</sup> | TSFR1M + 6.086% | 0.1500 | &nbsp;&nbsp;&nbsp;08/20/48 | 83974 |
| 155366 | Government National Mortgage Association Series 2018-120 JI<sup>(c)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;09/20/48 | 22435 |
| 222225 | Government National Mortgage Association Series 2018-154 IT<sup>(c)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;10/20/48 | 40777 |
| 419383 | Government National Mortgage Association Series 2019-6 SA<sup>(b),(c)</sup> | TSFR1M + 5.936% | 1.5850 | &nbsp;&nbsp;&nbsp;01/20/49 | 45346 |
| 191290 | Government National Mortgage Association Series 2019-18 CS<sup>(b),(c)</sup> | TSFR1M + 5.936% | 1.5850 | &nbsp;&nbsp;&nbsp;02/20/49 | 15307 |
| 872619 | Government National Mortgage Association Series 2020-47 MI<sup>(c)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/20/50 | 168131 |
| 375459 | Government National Mortgage Association Series 2020-127 IN<sup>(c)</sup> |  | 2.5000 | &nbsp;&nbsp;&nbsp;08/20/50 | 54949 |
| 580228 | Government National Mortgage Association Series 2020-167 NS<sup>(b),(c)</sup> | TSFR1M + 6.186% | 1.8350 | &nbsp;&nbsp;&nbsp;11/20/50 | 80583 |
| 1767357 | Government National Mortgage Association Series 2019-H16 CI<sup>(b),(c)</sup> |  | 2.1340 | &nbsp;&nbsp;&nbsp;10/20/69 | 68135 |
|  |  |  |  |  | 8181571 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $19,527,241)** | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $19,527,241)** |  |  | 8181571 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 47.4%** | **CORPORATE BONDS — 47.4%** |  |  |  |
|  | **ASSET MANAGEMENT** — **4.9%** | **ASSET MANAGEMENT** — **4.9%** |  |  |  |
| 700000 | Ares Capital Corporation |  | 2.1500 | &nbsp;&nbsp;&nbsp;07/15/26 | 683516 |
| 925000 | Ares Capital Corporation |  | 5.5000 | &nbsp;&nbsp;&nbsp;09/01/30 | 923766 |
| 2349000 | Bain Capital Specialty Finance, Inc. |  | 2.9500 | &nbsp;&nbsp;&nbsp;03/10/26 | 2314984 |
| 160000 | Bain Capital Specialty Finance, Inc. |  | 5.9500 | &nbsp;&nbsp;&nbsp;03/15/30 | 159173 |
| 600000 | Blackstone Secured Lending Fund |  | 3.6250 | &nbsp;&nbsp;&nbsp;01/15/26 | 596154 |
| 850000 | FS KKR Capital Corporation |  | 3.4000 | &nbsp;&nbsp;&nbsp;01/15/26 | 843842 |
| 275000 | FS KKR Capital Corporation |  | 2.6250 | &nbsp;&nbsp;&nbsp;01/15/27 | 264309 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 47.4%(Continued)** | **CORPORATE BONDS — 47.4%(Continued)** |  |  |  |
|  | **ASSET MANAGEMENT** — **4.9%(Continued)** | **ASSET MANAGEMENT** — **4.9%(Continued)** |  |  |  |
| 500000 | FS KKR Capital Corporation |  | 3.1250 | &nbsp;&nbsp;&nbsp;10/12/28 | $461037 |
| 1445000 | Icahn Enterprises, L.P. / Icahn Enterprises |  | 6.2500 | &nbsp;&nbsp;&nbsp;05/15/26 | 1436815 |
|  |  |  |  |  | 7683596 |
|  | **AUTOMOTIVE** — **8.2%** | **AUTOMOTIVE** — **8.2%** |  |  |  |
| 1935000 | Ford Motor Credit Company, LLC |  | 3.3750 | &nbsp;&nbsp;&nbsp;11/13/25 | 1925504 |
| 375000 | Ford Motor Credit Company, LLC |  | 2.7000 | &nbsp;&nbsp;&nbsp;08/10/26 | 365700 |
| 500000 | Ford Motor Credit Company, LLC |  | 5.8000 | &nbsp;&nbsp;&nbsp;03/05/27 | 502754 |
| 700000 | Ford Motor Credit Company, LLC |  | 4.9500 | &nbsp;&nbsp;&nbsp;05/28/27 | 694352 |
| 313000 | Ford Motor Credit Company, LLC |  | 4.1250 | &nbsp;&nbsp;&nbsp;08/17/27 | 304933 |
| 500000 | Ford Motor Credit Company, LLC |  | 3.8150 | &nbsp;&nbsp;&nbsp;11/02/27 | 482803 |
| 275000 | Ford Motor Credit Company, LLC |  | 5.8000 | &nbsp;&nbsp;&nbsp;03/08/29 | 275612 |
| 1000000 | Ford Motor Credit Company, LLC |  | 6.2000 | &nbsp;&nbsp;&nbsp;06/20/34 | 987480 |
| 1263000 | General Motors Financial Company, Inc. | H15T5Y + 4.997% | 5.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 1237039 |
| 938000 | Nissan Motor Acceptance Company, LLC<sup>(a)</sup> |  | 1.8500 | &nbsp;&nbsp;&nbsp;09/16/26 | 900610 |
| 1288000 | Nissan Motor Acceptance Company, LLC<sup>(a)</sup> |  | 5.3000 | &nbsp;&nbsp;&nbsp;09/13/27 | 1279312 |
| 945000 | Nissan Motor Acceptance Company, LLC<sup>(a)</sup> |  | 2.7500 | &nbsp;&nbsp;&nbsp;03/09/28 | 878891 |
| 490000 | Nissan Motor Acceptance Company, LLC<sup>(a)</sup> |  | 2.4500 | &nbsp;&nbsp;&nbsp;09/15/28 | 443124 |
| 2525000 | Nissan Motor Acceptance Corporation<sup>(a)</sup> |  | 2.0000 | &nbsp;&nbsp;&nbsp;03/09/26 | 2477374 |
| 250000 | Volkswagen Group of America Finance, LLC<sup>(a)</sup> |  | 4.7500 | &nbsp;&nbsp;&nbsp;11/13/28 | 248785 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13004273 |
|  | **BANKING** — **11.6%** | **BANKING** — **11.6%** |  |  |  |
| 1040000 | Bank of America Corporation<sup>(b)</sup> | H15T5Y + 2.760% | 4.3750 | &nbsp;&nbsp;&nbsp;Perpetual | 1017525 |
| 1325000 | Bank of Nova Scotia (The)<sup>(b)</sup> | H15T5Y + 2.613% | 3.6250 | &nbsp;&nbsp;&nbsp;10/27/81 | 1240858 |
| 250000 | Barclays plc<sup>(b)</sup> | H15T1Y + 2.300% | 5.3040 | &nbsp;&nbsp;&nbsp;08/09/26 | 250000 |
| 600000 | BNP Paribas S.A.<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;&nbsp;09/28/25 | 599469 |
| 2480000 | BNP Paribas S.A.<sup>(a),(b)</sup> | H15T5Y + 3.196% | 4.6250 | &nbsp;&nbsp;&nbsp;Perpetual | 2435907 |
| 394000 | BPCE S.A.<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;&nbsp;04/01/26 | 394009 |
| 2000000 | Citigroup, Inc.<sup>(b)</sup> | H15T5Y + 3.417% | 3.8750 | &nbsp;&nbsp;&nbsp;Perpetual | 1981568 |
| 1708000 | Citigroup, Inc. Series Y<sup>(b)</sup> | H15T5Y + 3.000% | 4.1500 | &nbsp;&nbsp;&nbsp;Perpetual | 1669652 |
| 1035000 | Citizens Financial Group, Inc.<sup>(b)</sup> | H15T5Y + 3.215% | 4.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 1008596 |
| 1000000 | Credit Agricole S.A.<sup>(b)</sup> | H15T5Y + 3.237% | 4.7500 | &nbsp;&nbsp;&nbsp;Perpetual | 947247 |
| 1000000 | Deutsche Bank A.G.<sup>(b)</sup> | H15T5Y + 4.524% | 6.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 1000617 |
| 1648000 | KeyCorporation<sup>(b)</sup> | US0003M + 3.606% | 5.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 1626701 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 47.4% (Continued)** | **CORPORATE BONDS — 47.4% (Continued)** |  |  |  |
|  | **BANKING** — **11.6% (Continued)** | **BANKING** — **11.6% (Continued)** |  |  |  |
| 1180000 | M&T Bank Corporation<sup>(b)</sup> | H15T5Y + 2.679% | 3.5000 | &nbsp;&nbsp;&nbsp;Perpetual | $1137207 |
| 1000000 | PNC Financial Services Group, Inc. (The)<sup>(b)</sup> | H15T5Y + 2.595% | 3.4000 | &nbsp;&nbsp;&nbsp;Perpetual | 964688 |
| 419000 | Royal Bank of Canada<sup>(b)</sup> | SOFRRATE + 7.450% | 8.5000 | &nbsp;&nbsp;&nbsp;02/28/39 | 427350 |
| 1000000 | Societe Generale S.A.<sup>(b)</sup> | H15T5Y + 4.514% | 5.3750 | &nbsp;&nbsp;&nbsp;Perpetual | 928805 |
| 732000 | US Bancorp<sup>(b)</sup> | SOFR + 2.914% | 5.3000 | &nbsp;&nbsp;&nbsp;Perpetual | 730864 |
|  |  |  |  |  | 18361063 |
|  | **BIOTECH & PHARMA** — **1.6%** | **BIOTECH & PHARMA** — **1.6%** |  |  |  |
| 989000 | Teva Pharmaceutical Finance Netherlands III BV3 |  | 3.1500 | &nbsp;&nbsp;&nbsp;10/01/26 | 967935 |
| 1600000 | Teva Pharmaceutical Finance Netherlands III BV4 |  | 4.7500 | &nbsp;&nbsp;&nbsp;05/09/27 | 1590176 |
|  |  |  |  |  | 2558111 |
|  | **COMMERCIAL SUPPORT SERVICES** — **0.6%** | **COMMERCIAL SUPPORT SERVICES** — **0.6%** |  |  |  |
| 975000 | Aramark Services, Inc.<sup>(a)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;02/01/28 | 966648 |
|  | **ELECTRIC UTILITIES** — **5.3%** | **ELECTRIC UTILITIES** — **5.3%** |  |  |  |
| 1552000 | American Electric Power Company, Inc.<sup>(b)</sup> | H15T5Y + 2.675% | 3.8750 | &nbsp;&nbsp;&nbsp;02/15/62 | 1499910 |
| 1110000 | CenterPoint Energy, Inc.<sup>(b)</sup> | H15T5Y + 3.254% | 7.0000 | &nbsp;&nbsp;&nbsp;02/15/55 | 1161027 |
| 1000000 | CMS Energy Corporation<sup>(b)</sup> | H15T5Y + 4.116% | 4.7500 | &nbsp;&nbsp;&nbsp;06/01/50 | 964544 |
| 380000 | Duke Energy Corporation<sup>(b)</sup> | H15T5Y + 2.321% | 3.2500 | &nbsp;&nbsp;&nbsp;01/15/82 | 365467 |
| 2000000 | Electricite de France S.A.<sup>(a),(b)</sup> | H15T5Y + 5.411% | 9.1250 | &nbsp;&nbsp;&nbsp;Perpetual | 2296720 |
| 150000 | FirstEnergy Corporation |  | 4.1500 | &nbsp;&nbsp;&nbsp;07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148192 |
| 730000 | Sempra<sup>(b)</sup> | H15T5Y + 2.868% | 4.1250 | &nbsp;&nbsp;&nbsp;04/01/52 | 706935 |
| 1250000 | Southern Company (The)<sup>(b)</sup> | H15T5Y + 2.915% | 3.7500 | &nbsp;&nbsp;&nbsp;09/15/51 | 1232026 |
|  |  |  |  |  | 8374821 |
|  | **ENTERTAINMENT CONTENT** — **0.3%** | **ENTERTAINMENT CONTENT** — **0.3%** |  |  |  |
| 575000 | Univision Communications, Inc.<sup>(a)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;05/01/29 | 532596 |
|  | **HEALTH CARE FACILITIES & SERVICES** — **0.3%** | **HEALTH CARE FACILITIES & SERVICES** — **0.3%** |  |  |  |
| 512000 | Charles River Laboratories International, Inc.<sup>(a)</sup> |  | 4.2500 | &nbsp;&nbsp;&nbsp;05/01/28 | 497322 |
|  | **INSURANCE** — **0.2%** | **INSURANCE** — **0.2%** |  |  |  |
| 250000 | Athene Global Funding<sup>(a)</sup> |  | 2.9500 | &nbsp;&nbsp;&nbsp;11/12/26 | 244819 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 47.4% (Continued)** | **CORPORATE BONDS — 47.4% (Continued)** |  |  |  |
|  | **LEISURE FACILITIES & SERVICES — 4.8%** | **LEISURE FACILITIES & SERVICES — 4.8%** |  |  |  |
| 828000 | Boyd Gaming Corporation |  | 4.7500 | &nbsp;&nbsp;&nbsp;12/01/27 | $821966 |
| 838000 | Caesars Entertainment, Inc.<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;&nbsp;10/15/29 | 792472 |
| 963000 | International Game Technology plc<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;&nbsp;01/15/27 | 971298 |
| 500000 | International Game Technology plc<sup>(a)</sup> |  | 5.2500 | &nbsp;&nbsp;&nbsp;01/15/29 | 495403 |
| 1200000 | Penn National Gaming, Inc.<sup>(a)</sup> |  | 5.6250 | &nbsp;&nbsp;&nbsp;01/15/27 | 1194490 |
| 820000 | Penn National Gaming, Inc.<sup>(a)</sup> |  | 4.1250 | &nbsp;&nbsp;&nbsp;07/01/29 | 759743 |
| 844000 | Scientific Games International, Inc.<sup>(a)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;05/15/28 | 845418 |
| 533000 | Scientific Games International, Inc.<sup>(a)</sup> |  | 7.2500 | &nbsp;&nbsp;&nbsp;11/15/29 | 548445 |
| 1248000 | Station Casinos, LLC<sup>(a)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;02/15/28 | 1222528 |
|  |  |  |  |  | 7651763 |
|  | **REAL ESTATE INVESTMENT TRUSTS** — **1.1%** | **REAL ESTATE INVESTMENT TRUSTS** — **1.1%** |  |  |  |
| 1250000 | GLP Capital, L.P. / GLP Financing II, Inc. |  | 5.3750 | &nbsp;&nbsp;&nbsp;04/15/26 | 1251142 |
| 500000 | VICI Properties, L.P. / VICI Note Company, Inc.<sup>(a)</sup> |  | 5.7500 | &nbsp;&nbsp;&nbsp;02/01/27 | 505403 |
|  |  |  |  |  | 1756545 |
|  | **RETAIL - DISCRETIONARY** — **1.0%** | **RETAIL - DISCRETIONARY** — **1.0%** |  |  |  |
| 1563000 | Penske Automotive Group, Inc. |  | 3.5000 | &nbsp;&nbsp;&nbsp;09/01/25 | 1560083 |
|  | **SPECIALTY FINANCE** — **5.9%** | **SPECIALTY FINANCE** — **5.9%** |  |  |  |
| 2577000 | Air Lease Corporation | H15T5Y + 4.076% | 4.6500 | &nbsp;&nbsp;&nbsp;Perpetual | 2552019 |
| 200000 | Ally Financial, Inc. |  | 6.0500 | &nbsp;&nbsp;&nbsp;02/15/26 | 200507 |
| 250000 | Ally Financial, Inc. |  | 6.0000 | &nbsp;&nbsp;&nbsp;07/15/29 | 250051 |
| 2137000 | Ally Financial, Inc. Series B | H15T5Y + 3.868% | 4.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 2081252 |
| 500000 | Aviation Capital Group, LLC<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;&nbsp;10/01/25 | 499174 |
| 250000 | Aviation Capital Group, LLC<sup>(a)</sup> |  | 1.9500 | &nbsp;&nbsp;&nbsp;01/30/26 | 246524 |
| 1363000 | Capital One Financial Corporation | H15T5Y + 3.157% | 3.9500 | &nbsp;&nbsp;&nbsp;Perpetual | 1333199 |
| 628000 | Capital One Financial Corporation<sup>(b)</sup> | TSFR3M + 3.338% | 5.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 622575 |
| 1000000 | ILFC E-Capital Trust I<sup>(a),(b)</sup> | TSFR3M + 1.812% | 6.4300 | &nbsp;&nbsp;&nbsp;12/21/65 | 838706 |
| 165000 | OneMain Finance Corporation |  | 3.5000 | &nbsp;&nbsp;&nbsp;01/15/27 | 161026 |
| 350000 | OneMain Finance Corporation |  | 5.3750 | &nbsp;&nbsp;&nbsp;11/15/29 | 343537 |
| 250000 | Synchrony Financial |  | 3.7000 | &nbsp;&nbsp;&nbsp;08/04/26 | 247510 |
|  |  |  |  |  | 9376080 |
|  | **TRANSPORTATION & LOGISTICS** — **1.6%** | **TRANSPORTATION & LOGISTICS** — **1.6%** |  |  |  |
| 1425000 | Air Canada<sup>(a)</sup> |  | 3.8750 | &nbsp;&nbsp;&nbsp;08/15/26 | 1408765 |
| 998515 | American Airlines 2016-2 Class A Pass Through Series 2016-2 A |  | 3.6500 | &nbsp;&nbsp;&nbsp;06/15/28 | 947109 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 47.4% (Continued)** | **CORPORATE BONDS — 47.4% (Continued)** |  |  |  |
|  | **TRANSPORTATION & LOGISTICS** — **1.6%(Continued)** | **TRANSPORTATION & LOGISTICS** — **1.6%(Continued)** |  |  |  |
| 187500 | Delta Air Lines Inc / SkyMiles IP Ltd.<sup>(a)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/20/25 | $187056 |
|  |  |  |  |  | 2542930 |
|  | **TOTAL CORPORATE BONDS (Cost $74,309,839)** | **TOTAL CORPORATE BONDS (Cost $74,309,839)** |  |  | 75110650 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **PREFERRED STOCK — 9.2%** | **PREFERRED STOCK — 9.2%** |  |  |  |
|  | **ASSET MANAGEMENT** — **1.0%** | **ASSET MANAGEMENT** — **1.0%** |  |  |  |
| 1550000 | Charles Schwab Corporation (The)<sup>(b)</sup> | H15T5Y + 3.170% | 4.0000 | &nbsp;&nbsp;&nbsp;Perpetual | $1529731 |
|  | **BANKING** — **3.1%** | **BANKING** — **3.1%** |  |  |  |
| 3704000 | First Citizens BancShares, Inc.<sup>(a),(b)</sup> | TSFR3M + 4.230% | 8.5520 | &nbsp;&nbsp;&nbsp;Perpetual | 3851053 |
| 1000000 | Wells Fargo & Company<sup>(b)</sup> | H15T5Y + 3.450% | 3.9000 | &nbsp;&nbsp;&nbsp;Perpetual | 991348 |
|  |  |  |  |  | 4842401 |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **2.6%** | **INSTITUTIONAL FINANCIAL SERVICES** — **2.6%** |  |  |  |
| 2625000 | Bank of New York Mellon Corporation (The) Series H<sup>(b)</sup> | H15T5Y + 3.350% | 3.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 2600787 |
| 1607000 | Goldman Sachs Group, Inc. (The)<sup>(b)</sup> | H15T5Y + 2.920% | 3.6500 | &nbsp;&nbsp;&nbsp;Perpetual | 1576262 |
|  |  |  |  |  | 4177049 |
|  | **OIL & GAS PRODUCERS** — **2.5%** | **OIL & GAS PRODUCERS** — **2.5%** |  |  |  |
| 3986000 | Energy Transfer, L.P.<sup>(b)</sup> | H15T5Y + 5.690% | 6.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 4003382 |
|  | **TOTAL PREFERRED STOCK (Cost $14,301,159)** | **TOTAL PREFERRED STOCK (Cost $14,301,159)** |  |  | 14552563 |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **TERM LOANS — 10.0%** | **TERM LOANS — 10.0%** |  |  |  |
|  | **COMMERCIAL SUPPORT SERVICES** — **1.7%** | **COMMERCIAL SUPPORT SERVICES** — **1.7%** |  |  |  |
| 2630573 | Aramark Services, Inc.<sup>(b)</sup> | TSFR1M + 2.000% | 6.3560 | &nbsp;&nbsp;&nbsp;04/06/28 | $2638254 |
|  | **LEISURE FACILITIES & SERVICES** — **3.4%** | **LEISURE FACILITIES & SERVICES** — **3.4%** |  |  |  |
| 987525 | Restaurant Brands<sup>(b)</sup> | TSFR1M + 1.750% | 6.1060 | &nbsp;&nbsp;&nbsp;09/23/30 | 986523 |
| 1984975 | Caesars Entertainment, Inc.<sup>(b)</sup> | TSFR1M + 2.250% | 6.6060 | &nbsp;&nbsp;&nbsp;02/06/31 | 1985223 |
| 988167 | Light & Wonder International, Inc.<sup>(b)</sup> | TSFR1M + 2.250% | 6.5930 | &nbsp;&nbsp;&nbsp;04/16/29 | 991626 |
| 497442 | Penn Entertainment, Inc.<sup>(b)</sup> | TSFR1M + 2.500% | 6.8560 | &nbsp;&nbsp;&nbsp;05/03/29 | 499539 |
| 1000000 | Six Flags Entertainment Corporation<sup>(b)</sup> | TSFR1M + 2.000% | 6.3240 | &nbsp;&nbsp;&nbsp;05/01/31 | 1000625 |
|  |  |  |  |  | 5463536 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** | **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** | **July 31, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **TERM LOANS — 10.0%(Continued)** | **TERM LOANS — 10.0%(Continued)** |  |  |  |
|  | **RETAIL - DISCRETIONARY** — **1.2%** | **RETAIL - DISCRETIONARY** — **1.2%** |  |  |  |
| 1942472 | Great Outdoors Group, LLC<sup>(b)</sup> | TSFR1M + 3.250% | 7.6060 | &nbsp;&nbsp;&nbsp;01/16/32 | $1946842 |
|  | **SEMICONDUCTORS** — **0.7%** | **SEMICONDUCTORS** — **0.7%** |  |  |  |
| 1063863 | MKS Instruments, Inc.<sup>(b)</sup> | TSFR1M + 2.000% | 6.3530 | &nbsp;&nbsp;&nbsp;08/17/29 | 1065592 |
|  | **TRANSPORTATION & LOGISTICS** — **3.0%** | **TRANSPORTATION & LOGISTICS** — **3.0%** |  |  |  |
| 1150000 | AAdvantage Loyalty IP Ltd.<sup>(b)</sup> | TSFR3M + 2.250% | 6.5220 | &nbsp;&nbsp;&nbsp;04/20/28 | 1146838 |
| 1975000 | Air Canada<sup>(b)</sup> | TSFR1M + 2.000% | 6.3530 | &nbsp;&nbsp;&nbsp;03/21/31 | 1977469 |
| 1657412 | United Airlines, Inc.<sup>(b)</sup> | TSFR3M + 2.000% | 6.3510 | &nbsp;&nbsp;&nbsp;02/24/31 | 1665906 |
|  |  |  |  |  | 4790213 |
|  | **TOTAL TERM LOANS (Cost $15,931,180)** | **TOTAL TERM LOANS (Cost $15,931,180)** |  |  | 15904437 |
| **Principal Amount ($)** |  |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 3.1%** | **U.S. GOVERNMENT & AGENCIES — 3.1%** |  |  |  |
|  | **U.S. TREASURY BILLS** — **3.1%** | **U.S. TREASURY BILLS** — **3.1%** |  |  |  |
| 5000000 | United States Treasury Bill<sup>(f)</sup> |  | 4.2600 | &nbsp;&nbsp;&nbsp;09/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4975613 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $4,976,791)** | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $4,976,791)** |  |  | 4975613 |
|  | **TOTAL INVESTMENTS - 97.4% (Cost $164,779,394)** | **TOTAL INVESTMENTS - 97.4% (Cost $164,779,394)** |  |  | &nbsp;&nbsp;&nbsp; $154499168 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 2.6%** | **OTHER ASSETS IN EXCESS OF LIABILITIES- 2.6%** |  |  | &nbsp;&nbsp; 4160067 |
|  | **NET ASSETS - 100.0%** |  |  |  | &nbsp;&nbsp; $158659235 |

---

---

| |
|:---|
| **ANFIELD UNIVERSAL FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **July 31, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |
| **Number of Contracts** | **Open Long Futures Contracts** | **Broker** | **Expiration** | **Notional Amount<sup>(g)</sup>** | **Value and Unrealized Appreciation** |
| 20 | CBOT 10 Year US Treasury Note | Interactive Broker | 09/19/2025 | $2221250 | $10625 |
| 20 | CBOT 5 Year US Treasury Note | Interactive Broker | 09/30/2025 | 2163438 | 3594 |
| 20 | CBOT Treasure Bond Futures | Interactive Broker | 09/19/2025 | 2283750 | 34375 |
|  |  |  |  |  | $48594 |
|  | **TOTAL FUTURES CONTRACTS** |  |  |  |  |

---

---

| | |
|:---|:---|
| A.G. | - Aktiengesellschaft |
| CLO | - Collateralized Loan Obligation |
| CBOT | - Chicago Board of Trade |
| LLC | - Limited Liability Company |
| LP | - Limited Partnership |
| LTD | - Limited Company |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |
| REMIC | - Real Estate Mortgage Investment Conduit |
| S/A | - Société Anonyme |
| H15T1Y | US Treasury Yield Curve Rate T Note Constant Maturity 1 Year |
| H15T5Y | US Treasury Yield Curve Rate T Note Constant Maturity 5 Year |
| SOFR | United States SOFR Secured Overnight Financing Index |
| SOFR30A | United States 30 Day Average SOFR Secured Overnight Financing Rate |
| SOFRRATE | United States SOFR Secured Overnight Financing Rate |
| TSFR1M | Term SOFR Secured Overnight Financing Rate 1 Month |
| TSFR3M | Term SOFR Secured Overnight Financing Rate 3 Month |
| US0003M | ICE LIBOR USD 3 Month |

---

<sup>(a)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2025 the total market value of 144A securities is $58,002,087 or 36.6% of net assets.

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

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

<sup>(d)</sup> Step bond. Coupon rate is fixed rate that changes on a specified date. The rate shown is the current rate at July 31, 2025.

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

<sup>(f)</sup> Zero coupon bond. Rate disclosed is the current yield as of July 31, 2025

<sup>(g)</sup> The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $159653622.05

**Total Liabilities:** $994386.96

**Net Assets:** $158659235.09

**Cash Not Reported:** $369513.60

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 451.79563800 | **1-Year:** 3865.99201000 | **5-Year:** 9396.34840600 | **10-Year:** 9432.00502400 | **30-Year:** 858.11576600

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

- **3-Month:** 804.32045000 | **1-Year:** 3376.70312200 | **5-Year:** 6129.63777800 | **10-Year:** 1396.94493200 | **30-Year:** 11.38160300

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000124329 | 0.90%                | 0.97%                | 0.19%                |
| Class ID C000124331 | 0.72%                | 0.91%                | 0.12%                |
| Class ID C000124332 | 0.80%                | 0.99%                | 0.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15065.90                | $2896619.76                                |
| Month 2  | $20812.83                | $942866.81                                 |
| Month 3  | $-33.07                  | $-32437.51                                 |

### Schedule of Portfolio Investments

| Name                                                                                     | Title                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Government National Mortgage Association                                                 | GNR 2013-20 IM          | CUSIP: 38378F4B3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    744534 | PA      | $114040.80    | 0.07%             | 2040-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CDC Mortgage Capital Trust 2002-He2                                                      | CDCMC 2004-HE1 M2       | CUSIP: 12506YCM9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100188 | PA      | $100326.75    | 0.06%             | 2034-06-25      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-5 BI           | CUSIP: 38378FPP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     66052 | PA      | $10384.67     | 0.01%             | 2043-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia                                                                      | BNS 3 5/8 10/27/2081    | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1325000 | PA      | $1240858.39   | 0.78%             | 2081-10-27      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                                           | NSANY 2 3/4 03/09/28    | CUSIP: 654740BT5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    945000 | PA      | $878891.48    | 0.55%             | 2028-03-09      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-22 EI          | CUSIP: 38381REC9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    480169 | PA      | $9961.64      | 0.01%             | 2043-07-20      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                                                      | FSK 2 5/8 01/15/27      | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    275000 | PA      | $264309.29    | 0.17%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-112 KI         | CUSIP: 38380TZU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    386508 | PA      | $36053.35     | 0.02%             | 2045-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 32 Ltd.                                                      | OCT32 2017-1A A2R3      | CUSIP: 67573CAU3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000560.00   | 0.63%             | 2037-10-31      | Floating      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2018-54 SA          | CUSIP: 3136B2XW7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    992584 | PA      | $92250.23     | 0.06%             | 2048-08-25      | Floating      | 1.79%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corporation                                                                   | CMS 4 3/4 06/01/50      | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $964544.30    | 0.61%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                                                                        | FE 3.9 07/15/27         | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148192.28    | 0.09%             | 2027-07-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Cwalt Incorporation                                                                      | CWALT 2004-35T2 A4      | CUSIP: 12667FQ81<br>LEI: 549300NHEJTDVQUV3M53 | Long             | ABS-O            | CORP              | US        |    121498 | PA      | $21127.96     | 0.01%             | 2035-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                                                         | DUK 3 1/4 01/15/2082    | CUSIP: 26441CBP9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    380000 | PA      | $365466.63    | 0.23%             | 2082-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4139 PO             | CUSIP: 3137AWYB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    102250 | PA      | $67178.99     | 0.04%             | 2042-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2008-60 SH          | CUSIP: 38375DAJ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1081917 | PA      | $16495.99     | 0.01%             | 2038-07-16      | Floating      | 1.70%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                             | BACR 5.304 08/09/26     | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $249999.50    | 0.16%             | 2026-08-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities Corp.                                     | CSFB 2001-HE8 A1        | CUSIP: 22540AB49<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     18946 | PA      | $18690.56     | 0.01%             | 2031-02-25      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Aramark                                                                                  | ARMK TL B7 1L USD       | CUSIP: 03852JAU5<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |   2630573 | PA      | $2638254.14   | 1.66%             | 2028-04-06      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2015-16 IN          | CUSIP: 3136ANBL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     57701 | PA      | $1260.12      | 0.00%             | 2043-09-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bluemountain Fuji US CLO I Ltd.                                                          | BLUEM 2017-2A C         | CUSIP: 09629EAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2005005.60   | 1.26%             | 2030-10-20      | Floating      | 7.59%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHS 202 IO              | CUSIP: 31282YCR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31605 | PA      | $2696.63      | 0.00%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 5086 HI             | CUSIP: 3137FFGG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    799245 | PA      | $175261.22    | 0.11%             | 2051-03-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities I Trust 2004 Ac5                                    | BSABS 2004-BO1 M9B      | CUSIP: 073879JV1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135000 | PA      | $135982.61    | 0.09%             | 2034-10-25      | Floating      | 10.47%                | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2018-154 IT         | CUSIP: 38381AWW2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    222225 | PA      | $40776.88     | 0.03%             | 2048-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                                   | FHR 4699 NI             | CUSIP: 3137F1PV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    598286 | PA      | $73541.85     | 0.05%             | 2046-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Penn Entertainment (fka Penn National Gaming)                                            | PENN TL B 1L USD        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    497442 | PA      | $499539.18    | 0.31%             | 2029-05-03      | Variable      | 6.86%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                                                             | CFG 4 PERP              | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1008595.70   | 0.64%             | 2171-10-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Centerpoint Energy Inc                                                                   | CNP 7 02/15/55          | CUSIP: 15189TBH9<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1161026.70   | 0.73%             | 2055-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 5086 IW             | CUSIP: 3137FFGQ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    421110 | PA      | $60808.99     | 0.04%             | 2051-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4076 SW             | CUSIP: 3137ASGB4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    157678 | PA      | $15492.53     | 0.01%             | 2042-07-15      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO 2017-1 Ltd.                                                           | ROCKT 2017-1A DR2B      | CUSIP: 77340EBG0<br>LEI: 5493007GXSFXDXOXG741 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1508385.00   | 0.95%             | 2034-04-20      | Floating      | 9.57%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2017-78 KI          | CUSIP: 3136AX6Z3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     80768 | PA      | $14550.77     | 0.01%             | 2047-10-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 406 15              | CUSIP: 3136FG2V8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1046632 | PA      | $229160.46    | 0.14%             | 2040-12-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4827 BI             | CUSIP: 3137FHM91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    939908 | PA      | $146415.96    | 0.09%             | 2048-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Light & Wonder International Inc.                                                        | SGMS 7 1/4 11/15/29     | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    533000 | PA      | $548445.27    | 0.35%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment Inc                                                                | CZR TL B1 1L USD        | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   1984975 | PA      | $1985222.87   | 1.25%             | 2031-02-06      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| Vanguard Fixed Income Securities Funds                                                   | VANG-H/Y CO-ADM         | CUSIP: 922031760<br>LEI: 549300F3N7VQKU6I4K64 | Long             | EC               | RF                | US        |    422170 | NS      | $2326155.03   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2018-74 MI          | CUSIP: 3136B3JA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    395439 | PA      | $77499.27     | 0.05%             | 2048-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                         | TEVA 3.15 10/01/26      | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    989000 | PA      | $967934.98    | 0.61%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2020-10 S           | CUSIP: 3136B9AZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    960766 | PA      | $108036.19    | 0.07%             | 2059-05-25      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2010-166 SA         | CUSIP: 38377RUF0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1581504 | PA      | $182913.22    | 0.12%             | 2040-12-16      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2007-112 SA         | CUSIP: 31396X4C5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    135904 | PA      | $15919.49     | 0.01%             | 2037-12-25      | Floating      | 1.99%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 384 2               | CUSIP: 3136FER20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    224701 | PA      | $26122.00     | 0.02%             | 2037-07-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2019-44 IC          | CUSIP: 3136B5VE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    573484 | PA      | $79707.34     | 0.05%             | 2049-08-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                            | F 4 1/8 08/17/27        | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    313000 | PA      | $304932.82    | 0.19%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                                                      | RRR 4 1/2 02/15/28      | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   1248000 | PA      | $1222527.82   | 0.77%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2021-27 GI          | CUSIP: 3136BHAW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    209898 | PA      | $55802.18     | 0.04%             | 2051-05-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                            | F 6.2 06/20/34          | CUSIP: 34540TH88<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $987480.00    | 0.62%             | 2034-06-20      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2009-101 MI         | CUSIP: 31398F6Z9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    329052 | PA      | $29557.60     | 0.02%             | 2039-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First Citizens BancShares Inc (Delaware)                                                 | FCNCA FLOAT PERP        | CUSIP: 31959XAA1<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   3704000 | PA      | $3851052.50   | 2.43%             | 2170-06-15      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-82 IG          | CUSIP: 38378TDR8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    335413 | PA      | $48877.08     | 0.03%             | 2043-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc.                                                       | CBASS 2004-CB3 B1       | CUSIP: 17307GES3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     86080 | PA      | $105498.58    | 0.07%             | 2034-03-25      | Floating      | 3.18%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4197 IG             | CUSIP: 3137B1TF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    407091 | PA      | $49781.42     | 0.03%             | 2043-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                            | F 3.815 11/02/27        | CUSIP: 345397YT4<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $482803.14    | 0.30%             | 2027-11-02      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding XLV Ltd/Llc                                                         | MDPK 2020-45A CRR       | CUSIP: 55820BAW7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500732.50    | 0.32%             | 2034-07-15      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-11 MI          | CUSIP: 38381BSL9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    116987 | PA      | $5882.10      | 0.00%             | 2046-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-88 IB          | CUSIP: 38380FRE8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    728692 | PA      | $96617.15     | 0.06%             | 2039-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2015-44 AI          | CUSIP: 38379LFV3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    119222 | PA      | $434.86       | 0.00%             | 2041-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                                                  | BPCEGP 4 7/8 04/01/26   | CUSIP: 05578QAE3<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    394000 | PA      | $394009.24    | 0.25%             | 2026-04-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Venture XV CLO Ltd.                                                                      | VENTR 2013-15A DR2      | CUSIP: 92328XAZ2<br>LEI: 549300UYHZCJPN3LMT03 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $994512.50    | 0.63%             | 2032-07-15      | Floating      | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4583 ST             | CUSIP: 3137BPDJ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    709781 | PA      | $72341.69     | 0.05%             | 2046-05-15      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2018-1 IP           | CUSIP: 38380UA45<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    285591 | PA      | $30249.27     | 0.02%             | 2048-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                        | WFC 3.9 PERP            | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991348.21    | 0.62%             | 2169-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4480 IN             | CUSIP: 3137BKD31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    225292 | PA      | $34710.46     | 0.02%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2006-109 SG         | CUSIP: 31396LQX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    453504 | PA      | $40122.05     | 0.03%             | 2036-11-25      | Floating      | 2.17%                 | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                             | MALT 2003-7 6A1         | CUSIP: 576434HH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10134 | PA      | $10188.96     | 0.01%             | 2033-12-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Brightstar Lottery PLC                                                                   | IGT 6 1/4 01/15/27      | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    963000 | PA      | $971298.17    | 0.61%             | 2027-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| GSR Mtg Loan Trust                                                                       | GSR 2004-2F 7A2         | CUSIP: 36229RLM9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     18007 | PA      | $482.16       | 0.00%             | 2034-01-25      | Floating      | 3.18%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2015-179 GS         | CUSIP: 38379TCB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    257991 | PA      | $37675.56     | 0.02%             | 2045-12-20      | Floating      | 2.28%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-20 KI          | CUSIP: 38378F6S4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    315143 | PA      | $56295.53     | 0.04%             | 2043-01-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 409 80              | CUSIP: 3136FLDH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     97352 | PA      | $18404.93     | 0.01%             | 2039-11-25      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2018-34 CI          | CUSIP: 3136B1G65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    186569 | PA      | $31847.75     | 0.02%             | 2048-05-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                           | C 3 7/8 PERP            | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1981567.80   | 1.25%             | 2169-05-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Cwabs Asset Backed Certificates Series 2002-4                                            | CWL 2004-6 2A4          | CUSIP: 126673BB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     31524 | PA      | $30594.79     | 0.02%             | 2034-11-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                                               | ACGCAP 4 7/8 10/01/25   | CUSIP: 05367AAH6<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499173.80    | 0.31%             | 2025-10-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 413 177             | CUSIP: 31395QPJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    151733 | PA      | $27365.22     | 0.02%             | 2042-07-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHS 256 50              | CUSIP: 3128HU3T6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    434900 | PA      | $53851.40     | 0.03%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2010-29 SA          | CUSIP: 38376XSS3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1963749 | PA      | $230635.85    | 0.15%             | 2039-10-20      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 3772 SA             | CUSIP: 3137A4JG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     82365 | PA      | $59298.40     | 0.04%             | 2040-12-15      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| MKS INC                                                                                  | MKSI TL B 1L USD        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1063863 | PA      | $1065592.27   | 0.67%             | 2029-08-17      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Corp                                                              | GSR 2004-6F 2A6         | CUSIP: 36228F2M7<br>LEI: CU46ESEFJB81SUVBJO28 | Long             | ABS-O            | CORP              | US        |      5494 | PA      | $5529.37      | 0.00%             | 2034-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-141 ID         | CUSIP: 38380HKZ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     10993 | PA      | $1522.03      | 0.00%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2016-121 JS         | CUSIP: 38380AZD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    827408 | PA      | $103287.62    | 0.07%             | 2046-09-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHS 303 181             | CUSIP: 31325UBL9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    156051 | PA      | $18590.38     | 0.01%             | 2039-12-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2016-81 IO          | CUSIP: 38379YNN4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    163735 | PA      | $30606.50     | 0.02%             | 2046-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                                                                 | EDF 9 1/8 PERP          | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $2296720.00   | 1.45%             | 2173-06-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| KeyCorp                                                                                  | KEY 5 PERP              | CUSIP: 493267AK4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   1648000 | PA      | $1626700.75   | 1.03%             | 2049-12-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2012-140 IC         | CUSIP: 38378GHA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    392935 | PA      | $63891.76     | 0.04%             | 2042-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2020-127 IN         | CUSIP: 38382HY87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    375459 | PA      | $54948.80     | 0.03%             | 2050-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2012-98 HS          | CUSIP: 38375GA76<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    314468 | PA      | $31656.05     | 0.02%             | 2042-08-20      | Floating      | 1.53%                 | No            |                  2 | On Loan: No      |
| CWMBS Inc                                                                                | CWHL 2004-7 3A1         | CUSIP: 12669FXK4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17416 | PA      | $16647.80     | 0.01%             | 2034-05-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2016-116 IJ         | CUSIP: 38380AJQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    288035 | PA      | $30340.63     | 0.02%             | 2046-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 5082 HI             | CUSIP: 3137FFWZ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    296843 | PA      | $39442.96     | 0.02%             | 2051-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 359 14              | CUSIP: 3136FCUF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    101207 | PA      | $15142.56     | 0.01%             | 2035-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2014-133 BS         | CUSIP: 38379GQY6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     91339 | PA      | $8109.22      | 0.01%             | 2044-09-20      | Floating      | 1.13%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fnd                                                                   | DRSLF 2018-55A D        | CUSIP: 26245MAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000338.00   | 0.63%             | 2031-04-15      | Floating      | 7.43%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 418 147             | CUSIP: 31395Q2K5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    212194 | PA      | $33861.79     | 0.02%             | 2039-05-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Light & Wonder (Scientific Games)                                                        | LNW TL B 1L USD         | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    988167 | PA      | $991625.68    | 0.63%             | 2029-04-16      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-75 GI          | CUSIP: 38378J3Z3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     45412 | PA      | $144.97       | 0.00%             | 2041-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Conseco Finance Corp.                                                                    | GT 1997-1 M1            | CUSIP: 393505SK9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1569 | PA      | $1578.13      | 0.00%             | 2028-03-15      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company  Inc                                                    | GM 5.7 PERP             | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1263000 | PA      | $1237038.53   | 0.78%             | 2069-03-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Option One Mortgage Acceptance Corp.                                                     | OOMLT 2003-5 A2         | CUSIP: 68400XBS8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9910 | PA      | $10320.25     | 0.01%             | 2033-08-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Corporation                                                            | OMF 5 3/8 11/15/29      | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    350000 | PA      | $343536.59    | 0.22%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Residential Asset Securities Corp.                                                       | RASC 2003-KS4 MI1       | CUSIP: 76110WRV0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     54359 | PA      | $54214.49     | 0.03%             | 2033-06-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2011-149 MS         | CUSIP: 3136A3FF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1294282 | PA      | $62065.46     | 0.04%             | 2041-11-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Air Canada                                                                               | ACACN TL B 1L USD       | CUSIP: N/A<br>LEI: 4B4HI3CGXMBDC0G6BM51       | Long             | LON              | CORP              | US        |   1975000 | PA      | $1977468.75   | 1.25%             | 2031-03-21      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-60 SA          | CUSIP: 38376UED7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3812086 | PA      | $161238.66    | 0.10%             | 2037-10-20      | Floating      | 2.22%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                            | F 2.7 08/10/26          | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    375000 | PA      | $365699.82    | 0.23%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2018-18 BI          | CUSIP: 38380KW43<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    299690 | PA      | $24931.39     | 0.02%             | 2047-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                                                           | LBMLT 2003-2 M2         | CUSIP: 542514DV3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14313 | PA      | $16294.28     | 0.01%             | 2033-06-25      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| American Airlines                                                                        | AAL TL B 1L USD         | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1150000 | PA      | $1146837.50   | 0.72%             | 2028-04-20      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4765 SI             | CUSIP: 3137FEQC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   9216597 | PA      | $77440.61     | 0.05%             | 2044-08-15      | Floating      | 0.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-179 WI         | CUSIP: 38380UMS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    118088 | PA      | $27053.62     | 0.02%             | 2047-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                                       | MSM 2004-10AR 4A        | CUSIP: 61748HFJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7117 | PA      | $6719.49      | 0.00%             | 2034-11-25      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2011-68 EI          | CUSIP: 38377VX50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    149821 | PA      | $14544.99     | 0.01%             | 2041-04-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Voya CLO 2018-3 Ltd.                                                                     | VOYA 2018-1A C          | CUSIP: 92917AAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2758776.90   | 1.74%             | 2031-04-19      | Floating      | 7.19%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-101 ID         | CUSIP: 38380FR57<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     65501 | PA      | $4465.33      | 0.00%             | 2046-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-18 CS          | CUSIP: 38381B4F8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    191290 | PA      | $15307.32     | 0.01%             | 2049-02-20      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Corporation                                                            | OMF 3 1/2 01/15/27      | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    165000 | PA      | $161026.21    | 0.10%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-122 SB         | CUSIP: 38378WAU7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    591181 | PA      | $64778.88     | 0.04%             | 2043-08-16      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp.                                                        | SASC 2005-WF1 M8        | CUSIP: 86359BW64<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    143305 | PA      | $149528.28    | 0.09%             | 2035-02-25      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                                                      | ALLY 6 07/15/29         | CUSIP: 02006DV40<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250050.75    | 0.16%             | 2029-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-189 PS         | CUSIP: 38378PMH8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    280956 | PA      | $24913.56     | 0.02%             | 2043-07-20      | Floating      | 1.68%                 | No            |                  2 | On Loan: No      |
| Ecp Clo 2015-7 Ltd/Llc                                                                   | GLGU 2018-1A BR         | CUSIP: 26829CBB2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2400000 | PA      | $2414171.04   | 1.52%             | 2030-04-22      | Floating      | 6.56%                 | Yes           |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                                               | ACGCAP 1.95 01/30/26    | CUSIP: 05369AAK7<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246524.48    | 0.16%             | 2026-01-30      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Salomon Brothers Mortgage Securities VII Inc.                                            | SBM7 2003-1 A2          | CUSIP: 79549AYQ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4705 | PA      | $2176.53      | 0.00%             | 2033-09-25      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                                                         | AEP 3 7/8 02/15/62      | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   1552000 | PA      | $1499909.91   | 0.95%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2009-61 AS          | CUSIP: 38376FHU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    101569 | PA      | $519.44       | 0.00%             | 2039-03-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2016-46 IO          | CUSIP: 38379WBY7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    267049 | PA      | $42798.74     | 0.03%             | 2046-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Great American Outdoors (Bass Pro Shops)                                                 | BASSPR TL B 1L USD      | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |   1942472 | PA      | $1946842.22   | 1.23%             | 2032-01-16      | Variable      | 7.61%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 418 141             | CUSIP: 31395Q2D1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    209917 | PA      | $32148.31     | 0.02%             | 2039-05-25      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-144 AS         | CUSIP: 38378UB63<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    885803 | PA      | $11681.70     | 0.01%             | 2043-03-20      | Floating      | 2.28%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                                                     | ACAFP 4 3/4 PERP        | CUSIP: F2R125CJ2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $947246.90    | 0.60%             | 2174-03-23      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-179 KS         | CUSIP: 38380ULB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    718214 | PA      | $92760.09     | 0.06%             | 2047-12-20      | Floating      | 1.73%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation                          | IEP 6 1/4 05/15/26      | CUSIP: 451102BT3<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |   1445000 | PA      | $1436814.65   | 0.91%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4792 AI             | CUSIP: 3137F5AG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    164100 | PA      | $28891.68     | 0.02%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.                                                            | PAG 3 1/2 09/01/25      | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   1563000 | PA      | $1560082.97   | 0.98%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 5022 IO             | CUSIP: 3137FXDW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    724776 | PA      | $123289.23    | 0.08%             | 2050-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 419 C3              | CUSIP: 31395Q5Q9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    339907 | PA      | $46013.68     | 0.03%             | 2043-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PENN Entertainment Inc                                                                   | PENN 4 1/8 07/01/29     | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    820000 | PA      | $759742.63    | 0.48%             | 2029-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| ZAIS CLO 18 LTD                                                                          | ZAIS 2022-18A D1        | CUSIP: 98885NAL7<br>LEI: 549300PRQCSTFU7VEI08 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1992242.00   | 1.26%             | 2035-01-25      | Floating      | 8.99%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial Inc.                                                                      | ALLY 4.7 PERP           | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2137000 | PA      | $2081252.00   | 1.31%             | 2169-08-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.                                           | CRL 4 1/4 05/01/28      | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    512000 | PA      | $497321.83    | 0.31%             | 2028-05-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2020-167 NS         | CUSIP: 38382LBR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    580228 | PA      | $80583.42     | 0.05%             | 2050-11-20      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                           | BNP 4 3/8 09/28/25      | CUSIP: 05581KAA9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $599469.16    | 0.38%             | 2025-09-28      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                              | COF FLOAT PERP          | CUSIP: 14040HDK8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    628000 | PA      | $622575.21    | 0.39%             | 2173-10-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4473 AS             | CUSIP: 3137BJAS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    265373 | PA      | $25289.18     | 0.02%             | 2045-05-15      | Floating      | 1.15%                 | No            |                  2 | On Loan: No      |
| MASTR Alternative Loan Trust                                                             | MALT 2007-HF1 4AX       | CUSIP: 55291YAP2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    390631 | PA      | $72097.85     | 0.05%             | 2047-10-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                                 | JPMMT 2005-A1 3A5       | CUSIP: 466247NJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12675 | PA      | $11965.00     | 0.01%             | 2035-02-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corporation                                                                     | MTB 3 1/2 PERP          | CUSIP: 55261FAN4<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1137206.71   | 0.72%             | 2173-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Restaurant Brands International                                                          | BCULC TL B5 1L USD      | CUSIP: C6901LAM9<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | US        |    987525 | PA      | $986522.66    | 0.62%             | 2030-09-23      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4394 BI             | CUSIP: 3137BEUD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    174262 | PA      | $22434.59     | 0.01%             | 2037-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Brightstar Lottery PLC                                                                   | IGT 5 1/4 01/15/29      | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $495403.35    | 0.31%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2018-16 MI          | CUSIP: 3136B1BT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    954876 | PA      | $194890.02    | 0.12%             | 2048-03-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2014-94 JI          | CUSIP: 38379CZP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5136502 | PA      | $21604.13     | 0.01%             | 2034-09-16      | Fixed         | 0.15%                 | No            |                  2 | On Loan: No      |
| United Airlines                                                                          | UAL TL B 1L USD         | CUSIP: 90932RAP9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1657412 | PA      | $1665906.30   | 1.05%             | 2031-02-24      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                         | TEVA 4 3/4 05/09/27     | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1600000 | PA      | $1590176.16   | 1.00%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ABS Capital I Inc. Trust 2004-NC1                                         | MSAC 2004-NC7 M4        | CUSIP: 61744CFS0<br>LEI: 549300RLSHIMYD3FZB52 | Long             | ABS-O            | CORP              | US        |     19996 | PA      | $23118.04     | 0.01%             | 2034-07-25      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                           | C 4.15 PERP             | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1708000 | PA      | $1669652.33   | 1.05%             | 2170-02-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AFC Mortgage Loan                                                                        | AFC 2000-1 1A           | CUSIP: 00105HEG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3892 | PA      | $3875.81      | 0.00%             | 2030-03-25      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| BATTALION CLO XVI LTD                                                                    | BATLN 2019-16A CR2      | CUSIP: 07133MAW6<br>LEI: 549300TL38G7SDO1N781 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003199.00   | 0.63%             | 2038-01-20      | Floating      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| Air Canada                                                                               | ACACN 3 7/8 08/15/26    | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |   1425000 | PA      | $1408765.55   | 0.89%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2018-35 KI          | CUSIP: 3136B1E59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    229895 | PA      | $39281.66     | 0.02%             | 2048-05-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                                           | SCHW 4 PERP             | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1529731.27   | 0.96%             | 2169-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Century Home Equity Loan Trust 2005-1                                                | NCHET 2003-A M1         | CUSIP: 64352VDS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11125 | PA      | $12576.31     | 0.01%             | 2033-10-25      | Floating      | 3.43%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                         | DB 6 PERP               | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $1000617.30   | 0.63%             | 2170-02-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                                               | BSABS 2003-ABF1 A       | CUSIP: 07384YLE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15591 | PA      | $15362.14     | 0.01%             | 2034-01-25      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 5093 NI             | CUSIP: 3137FYK88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    329302 | PA      | $66337.38     | 0.04%             | 2049-08-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Octagon Invt Partners 46 Ltd /  Llc                                                      | OCT46 2020-2A DR        | CUSIP: 67577VAS2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $998037.00    | 0.63%             | 2036-07-15      | Floating      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHS 324 C24             | CUSIP: 31325VBU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    462673 | PA      | $98183.88     | 0.06%             | 2043-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 5023 MI             | CUSIP: 3137FWV80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    407725 | PA      | $68292.29     | 0.04%             | 2050-10-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                            | F 4.95 05/28/27         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    700000 | PA      | $694352.11    | 0.44%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2004-70 XJ          | CUSIP: 31394A4U7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    273531 | PA      | $37255.57     | 0.02%             | 2034-10-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-114 CI         | CUSIP: 38380TYV2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    149757 | PA      | $10895.33     | 0.01%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                            | F 3 3/8 11/13/25        | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1935000 | PA      | $1925504.36   | 1.21%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2013-10 SJ          | CUSIP: 3136ACEL1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    139935 | PA      | $14572.81     | 0.01%             | 2043-02-25      | Floating      | 1.69%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2007-39 AI          | CUSIP: 31396VSJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    186538 | PA      | $16451.57     | 0.01%             | 2037-05-25      | Floating      | 1.66%                 | No            |                  2 | On Loan: No      |
| Novastar Mortgage Funding Trust Series 2005-1                                            | NHEL 2004-1 M5          | CUSIP: 66987XEE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1843 | PA      | $1784.05      | 0.00%             | 2034-06-25      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 5174 NI             | CUSIP: 3137H4MG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1168028 | PA      | $204138.21    | 0.13%             | 2051-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                                             | B 09/11/25              | CUSIP: 912797PW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $4975612.85   | 3.14%             | 2025-09-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4419 EI             | CUSIP: 3137BFQ20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     47670 | PA      | $5274.27      | 0.00%             | 2037-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Saxon Asset Securities Trust 2004-2                                                      | SAST 2003-3 M2          | CUSIP: 805564PF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11440 | PA      | $10370.97     | 0.01%             | 2033-12-25      | Floating      | 3.91%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2014-68 IB          | CUSIP: 3136ALRF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    394287 | PA      | $42260.39     | 0.03%             | 2043-02-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                       | ET 6 1/2 PERP           | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   3986000 | PA      | $4003381.63   | 2.52%             | 2169-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Equity One, Inc.                                                                         | EQABS 2002-5 M1         | CUSIP: 294751BP6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9849 | PA      | $10065.00     | 0.01%             | 2032-11-25      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                              | COF 3.95 PERP           | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1363000 | PA      | $1333198.54   | 0.84%             | 2169-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                           | BNP 4 5/8 PERP          | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2480000 | PA      | $2435907.34   | 1.54%             | 2177-01-12      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-130 LI         | CUSIP: 38380GDT8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    285376 | PA      | $21726.65     | 0.01%             | 2045-10-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2010-133 SB         | CUSIP: 38377MHU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    954778 | PA      | $109279.56    | 0.07%             | 2040-10-16      | Floating      | 1.57%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2010-150 SP         | CUSIP: 31397QBA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    441531 | PA      | $36927.62     | 0.02%             | 2040-10-25      | Floating      | 2.14%                 | No            |                  2 | On Loan: No      |
| Societe Generale S.A.                                                                    | SOCGEN 5 3/8 PERP       | CUSIP: F8500RAA0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $928805.30    | 0.59%             | 2173-05-18      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                                                   | US LONG BOND(CBT) Sep25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        20 | NC      | $34375.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Merrill Lynch Mortgage Investors, Inc.                                                   | MLMI 2003-OPT1 M2       | CUSIP: 5899295L8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17020 | PA      | $13536.76     | 0.01%             | 2034-07-25      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                                | GS 3.65 PERP            | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1607000 | PA      | $1576261.95   | 0.99%             | 2170-08-10      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                                                    | ATH 2.95 11/12/26       | CUSIP: 04685A2K6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244819.12    | 0.15%             | 2026-11-12      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| Tcw Clo                                                                                  | TCW 2017-1A A2R3        | CUSIP: 87240NBJ4<br>LEI: 549300BD6SSD2EBMCC95 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000495.00   | 0.63%             | 2034-10-29      | Floating      | 5.76%                 | Yes           |                  2 | On Loan: No      |
| Meritage Mortgage Loan Trust 2005-1                                                      | MMLT 2003-1 M2          | CUSIP: 59001FAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3845 | PA      | $3873.43      | 0.00%             | 2033-11-25      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                                                          | BXSL 3 5/8 01/15/26     | CUSIP: 09261LAC2<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    600000 | PA      | $596154.35    | 0.38%             | 2026-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CROWN POINT CLO 4 Ltd                                                                    | CRNPT 2018-4A B         | CUSIP: 22845XAE0<br>LEI: 549300735PG2ZC70V672 | Long             | ABS-CBDO         | CORP              | KY        |    500500 | PA      | $500844.84    | 0.32%             | 2031-04-20      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                                                   | AER Float 12/21/65      | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $838705.70    | 0.53%             | 2065-12-21      | Floating      | 6.43%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 413 155             | CUSIP: 31395QNL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    310269 | PA      | $55982.82     | 0.04%             | 2042-07-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fidelity Advisor Series II                                                               | FID-FL RT HI            | CUSIP: 315916783<br>LEI: EIVUM2R16VT371T5KS40 | Long             | EC               | RF                | US        |    286672 | NS      | $2625911.84   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                                           | NSANY 5.3 09/13/27      | CUSIP: 65480CAG0<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1288000 | PA      | $1279312.44   | 0.81%             | 2027-09-13      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2015-40 LT          | CUSIP: 3136AN4R5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   6384390 | PA      | $9840.90      | 0.01%             | 2045-06-25      | Floating      | 0.03%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                                                      | SYF 3.7 08/04/26        | CUSIP: 87165BAL7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247510.31    | 0.16%             | 2026-08-04      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                    | BAC 4 3/8 PERP          | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1017525.02   | 0.64%             | 2174-04-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 426 292             | CUSIP: 31422MYJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    449510 | PA      | $72836.78     | 0.05%             | 2051-08-25      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-103 DS         | CUSIP: 38378VAL9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     65876 | PA      | $7619.86      | 0.00%             | 2043-07-20      | Floating      | 1.68%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                                                      | ALLY 6.05 02/15/26      | CUSIP: 02006DL90<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200507.11    | 0.13%             | 2026-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities Corp.                                     | WIFC 1997-WFC1 M3       | CUSIP: 22540ACY2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     51759 | PA      | $50917.96     | 0.03%             | 2027-08-25      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Southern Co.                                                                             | SO 3 3/4 09/15/51       | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1232026.00   | 0.78%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2009-113 XI         | CUSIP: 31398GVZ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    366307 | PA      | $54142.48     | 0.03%             | 2040-01-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                                                  | AAL 3.65 06/15/28       | CUSIP: 023764AA1<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | ABS-O            | CORP              | US        |    998515 | PA      | $947108.85    | 0.60%             | 2028-06-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                                                      | FSK 3 1/8 10/12/28      | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    500000 | PA      | $461036.73    | 0.29%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2009-69 IV          | CUSIP: 38373AD86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    600416 | PA      | $79744.29     | 0.05%             | 2039-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| First Franklin Mortgage Loan Trust 2005-FF4                                              | FFML 2002-FF1 1A2       | CUSIP: 32027NAP6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8694 | PA      | $9258.30      | 0.01%             | 2032-04-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2017-99 DI          | CUSIP: 3136AY2Y8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    289891 | PA      | $37986.95     | 0.02%             | 2047-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-160 TI         | CUSIP: 38380HYT3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1063894 | PA      | $16286.94     | 0.01%             | 2040-06-20      | Floating      | 0.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2012-149 GI         | CUSIP: 38378GX86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    146602 | PA      | $12435.83     | 0.01%             | 2042-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-99 DI          | CUSIP: 38380F5B8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    111044 | PA      | $4683.24      | 0.00%             | 2045-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CDC Mortgage Capital Trust 2002-He2                                                      | CDCMC 2004-HE3 M2       | CUSIP: 12506YDG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     86186 | PA      | $84617.30     | 0.05%             | 2034-11-25      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2015-34 HI          | CUSIP: 3136AN3F2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1920754 | PA      | $421883.94    | 0.27%             | 2045-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2018-37 CI          | CUSIP: 3136B16S8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     49007 | PA      | $898.28       | 0.00%             | 2047-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 408 9               | CUSIP: 3136FG5X1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    404688 | PA      | $74288.81     | 0.05%             | 2040-10-25      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc.                                                            | UVN 4 1/2 05/01/29      | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    575000 | PA      | $532595.76    | 0.34%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                                                        | BK 3.7 PERP             | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2625000 | PA      | $2600787.53   | 1.64%             | 2170-03-20      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Battalion Clo Xvii Ltd/ Llc                                                              | BATLN 2021-17A CR       | CUSIP: 07133PAS8<br>LEI: 549300QQUW46V6EB1N30 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500150.00    | 0.32%             | 2034-03-09      | Floating      | 6.58%                 | Yes           |                  2 | On Loan: No      |
| Ares Capital Corp.                                                                       | ARCC 5 1/2 09/01/30     | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    925000 | PA      | $923766.34    | 0.58%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                                           | NSANY 2 03/09/26        | CUSIP: 654740BS7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   2525000 | PA      | $2477373.60   | 1.56%             | 2026-03-09      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| ANFIELD BBH SWEEP                                                                        | BBH SWEEP VEHICLE       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    989598 | PA      | $989597.80    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2011-157 AI         | CUSIP: 38378ATU5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |      4450 | PA      | $44.85        | 0.00%             | 2026-12-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO II Ltd.                                                                  | SNDPT 2013-1A A3R       | CUSIP: 83608GAS5<br>LEI: 549300Q00FJ0WHHYC788 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2004066.00   | 1.26%             | 2031-01-26      | Floating      | 6.43%                 | Yes           |                  2 | On Loan: No      |
| Aramark Services, Inc.                                                                   | ARMK 5 02/01/28         | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    975000 | PA      | $966647.86    | 0.61%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Bcap Llc Tr 07-Aa2                                                                       | BCAP 2007-AA2 21IO      | CUSIP: 05530NBF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5400661 | PA      | $58881.24     | 0.04%             | 2037-04-25      | Floating      | 0.42%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                                          | IMM 2004-4 1M3          | CUSIP: 45254NHX8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3509 | PA      | $3498.86      | 0.00%             | 2034-09-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2012-108 PS         | CUSIP: 38378HPT7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    218396 | PA      | $26915.04     | 0.02%             | 2042-03-16      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4669 TI             | CUSIP: 3137BW5Y6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   3022521 | PA      | $5587.43      | 0.00%             | 2040-09-15      | Floating      | 0.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2014-91 SB          | CUSIP: 38379CPE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    275629 | PA      | $20956.94     | 0.01%             | 2044-06-16      | Floating      | 1.15%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                            | F 5.8 03/05/27          | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502753.82    | 0.32%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 417 C24             | CUSIP: 31395QE71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    767813 | PA      | $98715.97     | 0.06%             | 2042-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Icg Us Clo 2021-3 Ltd / Icg Us Clo 2021-3 Llc                                            | ICG 2021-3A CR          | CUSIP: 449249AW1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001408.00   | 0.63%             | 2034-10-20      | Floating      | 6.43%                 | Yes           |                  2 | On Loan: No      |
| Six Flags                                                                                | FUN TL B 1L USD         | CUSIP: 15018LAN1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $1000625.00   | 0.63%             | 2031-05-01      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Meritage Mortgage Loan Trust 2005-1                                                      | MMLT 2003-1 M3          | CUSIP: 59001FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28884 | PA      | $28788.25     | 0.02%             | 2033-11-25      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| Venture 33 Clo Limited & Llc                                                             | VENTR 2018-33A D        | CUSIP: 92330YAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1906684.00   | 1.20%             | 2031-07-15      | Floating      | 7.74%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4416 DS             | CUSIP: 3137BFM32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    273340 | PA      | $31402.03     | 0.02%             | 2044-12-15      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 409 C13             | CUSIP: 3136FLFG6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    175679 | PA      | $29522.80     | 0.02%             | 2041-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 2433 SA             | CUSIP: 3133TVPR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     12588 | PA      | $14776.35     | 0.01%             | 2032-02-15      | Floating      | 9.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2018-120 JI         | CUSIP: 38380YVE2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    155366 | PA      | $22435.09     | 0.01%             | 2048-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2017-97 SW          | CUSIP: 3136B0DZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    929146 | PA      | $110399.98    | 0.07%             | 2047-12-25      | Floating      | 1.74%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                            | F 5.8 03/08/29          | CUSIP: 345397E58<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    275000 | PA      | $275612.09    | 0.17%             | 2029-03-08      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2012-69 QI          | CUSIP: 38378EQG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    241033 | PA      | $24993.94     | 0.02%             | 2041-03-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2021-78 QI          | CUSIP: 38382TBW3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    438688 | PA      | $36190.38     | 0.02%             | 2034-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 409 64              | CUSIP: 3136FLCR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    118959 | PA      | $19012.42     | 0.01%             | 2041-11-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2007-92 SK          | CUSIP: 31396XNB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    128052 | PA      | $13671.14     | 0.01%             | 2037-09-25      | Floating      | 1.99%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2012-126 IO         | CUSIP: 38378H3E4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    750635 | PA      | $105271.30    | 0.07%             | 2042-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AAMES Mortgage Trust 1997-D                                                              | AMT 2001-1 M2           | CUSIP: 00253CGQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22286 | PA      | $22179.52     | 0.01%             | 2031-06-25      | Fixed         | 8.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-4 ID           | CUSIP: 38378FNU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    899572 | PA      | $162088.16    | 0.10%             | 2042-05-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHS 303 141             | CUSIP: 31325UAC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    229868 | PA      | $35140.39     | 0.02%             | 2043-01-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors, Inc.                                                   | CBASS 2004-CB6 M2       | CUSIP: 59020UJD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     46752 | PA      | $44869.14     | 0.03%             | 2035-07-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                            | USB 5.3 PERP            | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    732000 | PA      | $730863.86    | 0.46%             | 2049-12-29      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                                  | VW 4 3/4 11/13/28       | CUSIP: 928668AU6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248784.83    | 0.16%             | 2028-11-13      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2016-54 PI          | CUSIP: 38379WMH2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     90479 | PA      | $8873.39      | 0.01%             | 2046-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4291 MS             | CUSIP: 3137B7AC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    301816 | PA      | $29525.30     | 0.02%             | 2054-01-15      | Floating      | 1.45%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2012-149 CS         | CUSIP: 38378GR91<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    223707 | PA      | $16897.55     | 0.01%             | 2042-12-20      | Floating      | 1.73%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4591 QI             | CUSIP: 3137BQQ91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     96694 | PA      | $17487.20     | 0.01%             | 2046-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                                   | US 10YR NOTE (CBT)Sep25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        20 | NC      | $10625.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc Of America Mortgage Securities Inc.                                                 | BOAMS 2004-A 2A4        | CUSIP: 05948XT43<br>LEI: 549300IE5TDZLY0T0V30 | Long             | ABS-O            | CORP              | US        |      3195 | PA      | $3160.98      | 0.00%             | 2034-02-25      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| Skymiles IP Ltd. & Delta Air Lines Inc.                                                  | DAL 4 1/2 10/20/25      | CUSIP: 830867AA5<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | KY        |    187500 | PA      | $187056.06    | 0.12%             | 2025-10-20      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 409 83              | CUSIP: 3136FLDL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    269773 | PA      | $44058.92     | 0.03%             | 2040-11-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Allegro CLO XV Ltd.                                                                      | ALLEG 2022-1A D1AR      | CUSIP: 01749WAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1500835.50   | 0.95%             | 2038-04-20      | Floating      | 7.33%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                                                     | RY 8 1/2 02/28/39       | CUSIP: 78014RTB6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    419000 | PA      | $427350.28    | 0.27%             | 2039-02-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2009-31 PI          | CUSIP: 31397ND85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     28740 | PA      | $365.09       | 0.00%             | 2038-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Deutsche Mortgage Securities Inc Mortgage Loan Trust                                     | DMSI 2004-4 7AR2        | CUSIP: 251563FE7<br>LEI: 529900RSBMUF46QF5O69 | Long             | ABS-O            | CORP              | US        |      2733 | PA      | $2560.06      | 0.00%             | 2034-06-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2012-84 KI          | CUSIP: 3136A7R95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    108301 | PA      | $16457.16     | 0.01%             | 2042-08-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                                   | US 5YR NOTE (CBT) Sep25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        20 | NC      | $3593.75      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriquest Mortgage Securities Inc Asset Backed Pass-Through Certificates Series 2005-R7 | AMSI 2003-11 AF6        | CUSIP: 03072SLU7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       113 | PA      | $246.13       | 0.00%             | 2033-12-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 407 40              | CUSIP: 3136FG4X2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    818275 | PA      | $159643.14    | 0.10%             | 2038-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 413 126             | CUSIP: 31395QMF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    154936 | PA      | $24789.25     | 0.02%             | 2042-07-25      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-H16 CI         | CUSIP: 38380LG23<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1767357 | PA      | $68135.14     | 0.04%             | 2069-10-20      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                                   | SRE 4 1/8 04/01/52      | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    730000 | PA      | $706935.36    | 0.45%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2007-26 SD          | CUSIP: 38375KAK8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    616393 | PA      | $68517.30     | 0.04%             | 2037-05-16      | Floating      | 2.35%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corp.                                                        | SASC 2005-WF1 M7        | CUSIP: 86359BW56<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    109279 | PA      | $114939.52    | 0.07%             | 2035-02-25      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2020-47 MI          | CUSIP: 38382EDP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    872619 | PA      | $168130.76    | 0.11%             | 2050-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 3935 SH             | CUSIP: 3137AGTF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    280948 | PA      | $4208.10      | 0.00%             | 2040-12-15      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Vici Properties Inc                                                                      | VICI 5 3/4 02/01/27     | CUSIP: 92564RAJ4<br>LEI: 254900RKH6RY9KCJQH63 | Long             | DBT              | CORP              | US        |    500000 | PA      | $505403.45    | 0.32%             | 2027-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                                       | MSM 2004-7AR 2A6        | CUSIP: 61748HCK5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2889 | PA      | $2856.67      | 0.00%             | 2034-09-25      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Steele Creek Clo 2014-1R Ltd.                                                            | STCR 2014-1RA B         | CUSIP: 85816WAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    342253 | PA      | $343174.20    | 0.22%             | 2031-04-21      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Terwin Mortgage Trust                                                                    | TMTS 2003-2HE M2        | CUSIP: 881561AT1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     47506 | PA      | $58811.21     | 0.04%             | 2034-07-25      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 4091 ES             | CUSIP: 3137ATDJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    207273 | PA      | $29450.54     | 0.02%             | 2042-08-15      | Floating      | 2.10%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2018-31 IO          | CUSIP: 3136B1YP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    258531 | PA      | $50065.71     | 0.03%             | 2047-12-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-6 SA           | CUSIP: 38381BG65<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    419383 | PA      | $45345.70     | 0.03%             | 2049-01-20      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-181 SA         | CUSIP: 38378YFA2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    136434 | PA      | $14799.70     | 0.01%             | 2043-11-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                                                    | AL 4.65 PERP            | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2577000 | PA      | $2552019.34   | 1.61%             | 2170-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2015-22 BS          | CUSIP: 3136ANEX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    136811 | PA      | $14791.22     | 0.01%             | 2045-04-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                                                      | FSK 3.4 01/15/26        | CUSIP: 302635AG2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    850000 | PA      | $843841.75    | 0.53%             | 2026-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Bain Capital Specialty Finance Inc                                                       | BCSF 2.95 03/10/26      | CUSIP: 05684BAB3<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |   2349000 | PA      | $2314983.90   | 1.46%             | 2026-03-10      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| WIND RIVER CLOLTD 2021-3                                                                 | WINDR 2021-3A D1AR      | CUSIP: 97316DAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1979904.00   | 1.25%             | 2038-04-20      | Floating      | 7.33%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2016-163 KI         | CUSIP: 38380TBD7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    499154 | PA      | $38244.85     | 0.02%             | 2045-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHS 365 C10             | CUSIP: 31325XUV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    525968 | PA      | $107284.26    | 0.07%             | 2049-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                                           | NSANY 1.85 09/16/26     | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    938000 | PA      | $900610.19    | 0.57%             | 2026-09-16      | Fixed         | 1.85%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Specialty Finance Inc                                                       | BCSF 5.95 03/15/30      | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    160000 | PA      | $159172.89    | 0.10%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2020-86 TK          | CUSIP: 38382GCS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  16717798 | PA      | $83973.50     | 0.05%             | 2048-08-20      | Floating      | 0.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2013-90 AI          | CUSIP: 38378TXG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    194003 | PA      | $2670.61      | 0.00%             | 2039-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHS 303 175             | CUSIP: 31325UBE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    159978 | PA      | $21552.11     | 0.01%             | 2040-12-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                                                        | PNC 3.4 PERP            | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $964688.10    | 0.61%             | 2172-12-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Boyd Gaming Corporation                                                                  | BYD 4 3/4 12/01/27      | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    828000 | PA      | $821966.28    | 0.52%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BALBOA BAY LOAN FUNDING 2024-1 LTD                                                       | BOBA 2024-1A D1         | CUSIP: 05766NAN2<br>LEI: 254900ZDWC7EDY07BS61 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1006280.00   | 0.63%             | 2037-07-20      | Floating      | 7.53%                 | Yes           |                  2 | On Loan: No      |
| Bear Stearns Arm Trust                                                                   | BSARM 2003-4 3A1        | CUSIP: 07384MVR0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6346 | PA      | $6132.45      | 0.00%             | 2033-07-25      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| PENN Entertainment Inc                                                                   | PENN 5 5/8 01/15/27     | CUSIP: 707569AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1194489.60   | 0.75%             | 2027-01-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2013-103 JS         | CUSIP: 3136AGNX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1048717 | PA      | $98368.81     | 0.06%             | 2043-10-25      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Greenwood Pk Clo Ltd                                                                     | GRNPK 2018-1A D         | CUSIP: 39729RAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1500000 | PA      | $1505468.25   | 0.95%             | 2031-04-15      | Floating      | 7.08%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                                           | NSANY 2.45 09/15/28     | CUSIP: 65480CAD7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    490000 | PA      | $443123.94    | 0.28%             | 2028-09-15      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-22 SA          | CUSIP: 38381RDX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    464706 | PA      | $41045.44     | 0.03%             | 2045-02-20      | Floating      | 1.13%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                                          | IMM 2004-6 M1           | CUSIP: 45254NJX6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14207 | PA      | $13805.36     | 0.01%             | 2034-10-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2014-132 SL         | CUSIP: 38379EW73<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    181299 | PA      | $8966.52      | 0.01%             | 2043-10-20      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                         | FHR 5112 IB             | CUSIP: 3137H0R91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    619812 | PA      | $68463.70     | 0.04%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2017-60 SU          | CUSIP: 38376UFJ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    628580 | PA      | $53643.18     | 0.03%             | 2040-01-16      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                                               | BSABS 2003-AC5 A2       | CUSIP: 07384YMB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3137 | PA      | $3157.25      | 0.00%             | 2033-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-22 CI          | CUSIP: 38381RDY2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1887777 | PA      | $88578.65     | 0.06%             | 2045-10-20      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-22 HI          | CUSIP: 38381REQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    160493 | PA      | $19150.74     | 0.01%             | 2040-10-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNS 385 3               | CUSIP: 3136FEV74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    332939 | PA      | $51680.59     | 0.03%             | 2038-01-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corp.                                                                       | ARCC 2.15 07/15/26      | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    700000 | PA      | $683516.04    | 0.43%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc.                                                               | CZR 4 5/8 10/15/29      | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    838000 | PA      | $792472.30    | 0.50%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2009-87 IW          | CUSIP: 38376KXJ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2074261 | PA      | $61777.10     | 0.04%             | 2034-07-20      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| Light & Wonder International Inc.                                                        | SGMS 7 05/15/28         | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    844000 | PA      | $845417.92    | 0.53%             | 2028-05-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                    | FNR 2018-2 LI           | CUSIP: 3136B0ZQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    150816 | PA      | $14442.03     | 0.01%             | 2047-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GLP Capital L.P. and GLP Financing II, Inc.                                              | GLPI 5 3/8 04/15/26     | CUSIP: 361841AH2<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1251141.25   | 0.79%             | 2026-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Cwabs Asset Backed Certificates Series 2002-4                                            | CWL 2004-6 2A3          | CUSIP: 126673BA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21837 | PA      | $21557.17     | 0.01%             | 2034-11-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                                          | IMM 2004-5 1A3          | CUSIP: 45254NJJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1780 | PA      | $1769.03      | 0.00%             | 2034-10-25      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Trust                                                             | CHASE 2007-A1 7A1       | CUSIP: 161630AU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       462 | PA      | $464.45       | 0.00%             | 2037-02-25      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                                 | GNR 2019-21 SI          | CUSIP: 38381B7A6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   8113507 | PA      | $56087.05     | 0.04%             | 2043-10-20      | Floating      | 0.27%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-28

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

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer