# EDGAR Filing Document

**Accession Number:** 0001557794
**File Stem:** 0001752724-25-198369
**Filing Date:** 2025-8
**Character Count:** 2532041
**Document Hash:** fa5644e8ce8adf64ef765205446be890
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-198369.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001752724-25-198369

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Blackstone Alternative Investment Funds
- **CENTRAL INDEX KEY:** 0001557794

**ORGANIZATION NAME:**
- **EIN:** 300748288
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22743
- **FILM NUMBER:** 251243155

**BUSINESS ADDRESS:**
- **STREET 1:** 345 PARK AVENUE
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10154
- **BUSINESS PHONE:** 212-583-5000

**MAIL ADDRESS:**
- **STREET 1:** 345 PARK AVENUE
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10154

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Blackstone Investor Solutions Funds
- **DATE OF NAME CHANGE:** 20120907

## Series and Classes Contracts Data

### Blackstone Alternative Multi-Strategy Fund (Series ID: S000045538)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000141764 | Class I        |  |
| C000145025 | Class D Shares |  |
| C000145027 | Class Y Shares |  |

## Nport-Ex

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
|  **INVESTMENT IN SECURITIES — 86.9%** |  |  |
|  **COMMON STOCK — 30.7%** |  |  |
|  **Africa — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sasol Ltd., ADR (a) | 10800 | $47736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sibanye Stillwater Ltd., ADR (a) | 78200 | 564604 |
|  |  | 612340 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunication Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; IHS Holding Ltd. (a) | 7200 | 40032 |
|  **Total Africa** |  | **652372** |
|  **Asia — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Automobiles & Components — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hesai Group, ADR (a) | 13000 | 285350 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BioNexus Gene Lab Corp. (a) | 3 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp; China Yuchai International Ltd. | 100 | 2391 |
| &nbsp;&nbsp;&nbsp;&nbsp; ITOCHU Corp. (b) | 900 | 47128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marubeni Corp. (b) | 1400 | 28222 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi Corp. (b) | 3100 | 61944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mitsui & Co. Ltd. (b) | 1900 | 38722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Corp. (b) | 900 | 23226 |
|  |  | 201643 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial & Professional Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunrise New Energy Co., Ltd., Class A (a) | 27 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; TaskUS, Inc., Class A (a) | 2600 | 43576 |
| &nbsp;&nbsp;&nbsp;&nbsp; VCI Global Ltd. (a) | 2 | 4 |
|  |  | 43605 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Services — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Gaotu Techedu, Inc., ADR (a) | 2000 | 7220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiade Ltd. (a) | 1 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp; MakeMyTrip Ltd. (a) | 19953 | 1955793 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Oriental Education & Technology Group, Inc., ADR (a) | 10 | 539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trip.com Group Ltd., ADR | 500 | 29320 |
|  |  | 1992875 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futu Holdings Ltd., ADR (a) | 1600 | 197744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan Exchange Group, Inc. (b) | 22500 | 227925 |
| &nbsp;&nbsp;&nbsp;&nbsp; LexinFintech Holdings Ltd., ADR | 12900 | 93009 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lufax Holding Ltd., ADR (a) | 9900 | 27621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solowin Holdings (a) | 11 | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp; Up Fintech Holding Ltd., ADR (a) | 3100 | 29915 |
|  |  | 576249 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Energy — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PTL Ltd., Class A (a) | 7 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food & Staples Retailing — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Meiwu Technology Co. Ltd. (a) | 50 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CN Energy Group, Inc., Class A (a) | 2 | 6 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Silvercorp Metals, Inc. | 6500 | $27430 |
|  |  | 27436 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bilibili, Inc., ADR (a) | 6600 | 141570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grindr, Inc. (a) | 27600 | 626520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hello Group, Inc., ADR (a) | 800 | 6752 |
| &nbsp;&nbsp;&nbsp;&nbsp; iQIYI, Inc., ADR (a) | 49900 | 88323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nintendo Co., Ltd. (b) | 8500 | 816253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pop Culture Group Co. Ltd., Class A (a) | 40 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sea Ltd., ADR (a) | 34900 | 5581906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weibo Corp., ADR | 9500 | 90535 |
|  |  | 7351881 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals, Biotechnology & Life Sciences — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; I-Mab, ADR (a) | 6307 | 15263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zai Lab Ltd., ADR (a) | 400 | 13988 |
|  |  | 29251 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retailing — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd., ADR | 1600 | 181456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Baozun, Inc., ADR (a) | 9400 | 23500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coupang, Inc. (a) | 124800 | 3739008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jiuzi Holdings, Inc. (a) | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; J-Long Group Ltd. (a) | 45 | 273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tokyo Lifestyle Co., Ltd., ADR (a) | 10 | 38 |
|  |  | 3944276 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Semiconductors & Semiconductor Equipment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Himax Technologies, Inc., ADR | 5800 | 51794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Magnachip Semiconductor Corp. (a) | 4700 | 18706 |
|  |  | 70500 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Agora, Inc., ADR (a) | 400 | 1524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tuya, Inc., ADR (a) | 9700 | 22407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vnet Group, Inc., ADR (a) | 63300 | 436770 |
|  |  | 460701 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Technology Hardware & Equipment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Canaan, Inc., ADR (a) | 36400 | 22506 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunication Services — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; KT Corp., ADR | 1900 | 39482 |
| &nbsp;&nbsp;&nbsp;&nbsp; SoftBank Group Corp. (b) | 22500 | 1635885 |
| &nbsp;&nbsp;&nbsp;&nbsp; VEON Ltd., ADR (a) | 400 | 18428 |
|  |  | 1693795 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Grab Holdings Ltd., Class A (a) | 112600 | 566378 |
|  **Total Asia** |  | **17266544** |
|  **Europe — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Automobiles & Components — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferrari NV (b) | 2640 | 1293365 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AerCap Holdings NV | 5600 | 655200 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbus SE (b) | 8109 | $1696407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxfer Holdings PLC, ADR (a) | 2300 | 28014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Siemens AG (b) | 5188 | 1332581 |
|  |  | 3712202 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Durables & Apparel — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amer Sports, Inc. (a) | 88152 | 3416772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Birkenstock Holding PLC (a) | 53207 | 2616720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ermenegildo Zegna NV | 1500 | 12825 |
| &nbsp;&nbsp;&nbsp;&nbsp; On Holding AG, Class A (a) | 3600 | 187380 |
|  |  | 6233697 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financials — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Blue Group Holding AG (a) | 500 | 3735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marex Group PLC | 129451 | 5109431 |
|  |  | 5113166 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Energy — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinor ASA (b) | 8563 | 216250 |
| &nbsp;&nbsp;&nbsp;&nbsp; KNOT Offshore Partners LP | 2800 | 17528 |
| &nbsp;&nbsp;&nbsp;&nbsp; StealthGas, Inc. (a) | 3800 | 24358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tsakos Energy Navigation Ltd. | 1700 | 32623 |
|  |  | 290759 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food, Beverage & Tobacco — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC, ADR | 12100 | 572693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nomad Foods Ltd. | 7500 | 127425 |
|  |  | 700118 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercer International, Inc. | 2400 | 8400 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Criteo SA, ADR (a) | 2900 | 69484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gambling.com Group Ltd. (a) | 100 | 1189 |
|  |  | 70673 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals, Biotechnology & Life Sciences — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AC Immune SA (a) | 200 | 406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Achilles Therapeutics PLC, ADR (a),(c) | 1700 | 2516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Akanda Corp. (a) | 3 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amarin Corp. PLC, ADR (a) | 685 | 11111 |
| &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC, ADR (b) | 13928 | 973289 |
| &nbsp;&nbsp;&nbsp;&nbsp; ATAI Life Sciences NV (a) | 100 | 219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bicycle Therapeutics PLC, ADR (a) | 500 | 3475 |
| &nbsp;&nbsp;&nbsp;&nbsp; CRISPR Therapeutics AG (a) | 19000 | 924160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genmab AS, ADR (a) | 24400 | 504104 |
| &nbsp;&nbsp;&nbsp;&nbsp; Immunocore Holdings PLC, ADR (a) | 6500 | 203970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mereo Biopharma Group PLC, ADR (a) | 2100 | 5691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merus NV (a) | 5600 | 294560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk AS, ADR | 77700 | 5362854 |
| &nbsp;&nbsp;&nbsp;&nbsp; ProQR Therapeutics NV (a) | 4000 | 8160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prothena Corp. PLC (a) | 1100 | 6677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Silence Therapeutics PLC, ADR (a) | 1600 | 9280 |
| &nbsp;&nbsp;&nbsp;&nbsp; uniQure NV (a) | 11900 | 165886 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Zura Bio Ltd. (a) | 2300 | $2415 |
|  |  | 8478777 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Semiconductors & Semiconductor Equipment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Infineon Technologies AG (b) | 5428 | 231624 |
| &nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors NV (b) | 2317 | 506241 |
|  |  | 737865 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Materialise NV, ADR (a) | 300 | 1695 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Ship Lease, Inc., Class A | 8300 | 218373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Golden Ocean Group Ltd. | 11000 | 80520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryanair Holdings PLC, ADR | 550 | 31718 |
| &nbsp;&nbsp;&nbsp;&nbsp; Safe Bulkers, Inc. | 4500 | 16245 |
| &nbsp;&nbsp;&nbsp;&nbsp; Star Bulk Carriers Corp. | 24 | 414 |
|  |  | 347270 |
|  **Total Europe** |  | **26987987** |
|  **Middle East — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Automobiles & Components — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mobileye Global, Inc., Class A (a) | 23500 | 422530 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Elbit Systems Ltd. | 6652 | 2990074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nano Dimension Ltd., ADR (a) | 100 | 162 |
|  |  | 2990236 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Health Care Equipment & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brainsway Ltd., ADR (a) | 700 | 9205 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Household & Personal Products — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Oddity Tech Ltd., Class A (a) | 2900 | 218863 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taboola.com Ltd. (a) | 3700 | 13542 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals, Biotechnology & Life Sciences — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Compugen Ltd. (a) | 4000 | 7120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kamada Ltd. (a) | 500 | 3875 |
|  |  | 10995 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Semiconductors & Semiconductor Equipment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Camtek Ltd. (a) | 6200 | 524272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nova Ltd. (a) | 200 | 55040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valens Semiconductor Ltd. (a) | 1700 | 4471 |
|  |  | 583783 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alarum Technologies Ltd., ADR (a) | 400 | 5412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cellebrite DI Ltd. (a) | 17800 | 284800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Radware Ltd. (a) | 1100 | 32384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sapiens International Corp. NV | 500 | 14625 |
| &nbsp;&nbsp;&nbsp;&nbsp; SimilarWeb Ltd. (a) | 700 | 5488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wix.com Ltd. (a) | 1600 | 253536 |
|  |  | 596245 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Technology Hardware & Equipment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AudioCodes Ltd. | 1300 | $12766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ceragon Networks Ltd. (a) | 3400 | 8364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gilat Satellite Networks Ltd. (a) | 1200 | 8508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ituran Location & Control Ltd. | 400 | 15492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Silicom Ltd. (a) | 400 | 6272 |
|  |  | 51402 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunication Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri AS, ADR | 2300 | 13915 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ZIM Integrated Shipping Services Ltd. | 21700 | 349153 |
|  **Total Middle East** |  | **5259869** |
|  **North America — 29.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Automobiles & Components — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing Holdings, Inc. (a) | 300 | 1224 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors Co. (b) | 21895 | 1077453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Motorcar Parts of America, Inc. (a) | 800 | 8960 |
| &nbsp;&nbsp;&nbsp;&nbsp; QuantumScape Corp. (a) | 11400 | 76608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rivian Automotive, Inc., Class A (a) | 211100 | 2900514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stoneridge, Inc. (a) | 1300 | 9152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc. (a) | 300 | 95298 |
|  |  | 4169209 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Banks — 3.3%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1st Source Corp. | 300 | 18621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amerant Bancorp, Inc. | 2000 | 36460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameris Bancorp | 127663 | 8259796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrow Financial Corp. | 522 | 13791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp. | 184786 | 5780106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banc of California, Inc. | 2874 | 40380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bancorp, Inc. (a) | 1900 | 108243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. (b) | 173441 | 8207228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Marin Bancorp | 35965 | 821441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bar Harbor Bankshares | 200 | 5992 |
| &nbsp;&nbsp;&nbsp;&nbsp; BayCom Corp. | 200 | 5542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hills Bancorp, Inc. | 2800 | 70112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blue Ridge Bankshares, Inc. (a) | 33776 | 121256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bridgewater Bancshares, Inc. (a) | 600 | 9546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookline Bancorp, Inc. | 4697 | 49553 |
| &nbsp;&nbsp;&nbsp;&nbsp; Business First Bancshares, Inc. | 600 | 14790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Byline Bancorp, Inc. | 1000 | 26730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Camden National Corp. | 300 | 12174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital City Bank Group, Inc. | 300 | 11805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capitol Federal Financial, Inc. | 13400 | 81740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carter Bankshares, Inc. (a) | 500 | 8670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Pacific Financial Corp. | 2400 | 67272 |
| &nbsp;&nbsp;&nbsp;&nbsp; ChoiceOne Financial Services, Inc. | 200 | 5740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. | 30398 | 2587478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Civista Bancshares, Inc. | 100 | 2320 |
| &nbsp;&nbsp;&nbsp;&nbsp; CNB Financial Corp. | 700 | 16002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coastal Financial Corp. (a) | 400 | 38748 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Colony Bankcorp, Inc. | 900 | $14823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Columbia Financial, Inc. (a) | 100 | 1451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comerica, Inc. | 261685 | 15609510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Community Trust Bancorp, Inc. | 400 | 21168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Community West Bancshares | 100 | 1951 |
| &nbsp;&nbsp;&nbsp;&nbsp; ConnectOne Bancorp, Inc. | 2142 | 49609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dime Community Bancshares, Inc. | 300 | 8082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eagle Bancorp, Inc. | 29821 | 580913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Bancshares, Inc., Class A | 200 | 8160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Farmers National Banc Corp. | 800 | 11032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Institutions, Inc. | 700 | 17976 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Bank | 200 | 3094 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Busey Corp. | 33 | 755 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Community Bankshares, Inc. | 200 | 7834 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Community Corp. | 1300 | 31694 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Financial Corp. | 300 | 16257 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Foundation, Inc. (a) | 450735 | 2298748 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Horizon Corp. | 738476 | 15655691 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Internet Bancorp | 200 | 5380 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Western Financial, Inc. (a) | 27237 | 614467 |
| &nbsp;&nbsp;&nbsp;&nbsp; Firstsun Capital Bancorp (a) | 100 | 3475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Five Star Bancorp | 100 | 2854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flushing Financial Corp. | 5300 | 62964 |
| &nbsp;&nbsp;&nbsp;&nbsp; FS Bancorp, Inc. | 100 | 3938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Great Southern Bancorp, Inc. | 100 | 5878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guaranty Bancshares, Inc. | 674 | 28605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hanmi Financial Corp. | 2200 | 54296 |
| &nbsp;&nbsp;&nbsp;&nbsp; HarborOne Bancorp, Inc. | 400 | 4672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heritage Commerce Corp. | 5200 | 51636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heritage Financial Corp. | 1500 | 35760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilltop Holdings, Inc. | 79626 | 2416649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hingham Institution For Savings | 18752 | 4657059 |
| &nbsp;&nbsp;&nbsp;&nbsp; HomeTrust Bancshares, Inc. | 300 | 11223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hope Bancorp, Inc. | 12700 | 136271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Horizon Bancorp, Inc. | 1600 | 24608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Independent Bank Corp. | 500 | 16205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kearny Financial Corp. | 8300 | 53618 |
| &nbsp;&nbsp;&nbsp;&nbsp; LCNB Corp. | 200 | 2906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Oak Bancshares, Inc. | 1400 | 41720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercantile Bank Corp. | 300 | 13923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metrocity Bankshares, Inc. | 100 | 2858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Bank Holding Corp. (a) | 1000 | 70000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Penn Bancorp, Inc. | 200 | 5640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Midland States Bancorp, Inc. | 1100 | 19052 |
| &nbsp;&nbsp;&nbsp;&nbsp; MidWestOne Financial Group, Inc. | 200 | 5754 |
| &nbsp;&nbsp;&nbsp;&nbsp; NB Bancorp, Inc. (a) | 200 | 3572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northeast Bank | 100 | 8899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northfield Bancorp, Inc. | 2800 | 32144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northpointe Bancshares, Inc. | 40434 | 554350 |
| &nbsp;&nbsp;&nbsp;&nbsp; OceanFirst Financial Corp. | 3300 | 58113 |
| &nbsp;&nbsp;&nbsp;&nbsp; OFG Bancorp | 1100 | 47080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Old Second Bancorp, Inc. | 1200 | 21288 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Onity Group, Inc. (a) | 94 | $3588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Orrstown Financial Services, Inc. | 587 | 18684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pathward Financial, Inc. | 500 | 39560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peapack-Gladstone Financial Corp. | 600 | 16950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Penns Woods Bancorp, Inc. | 200 | 6072 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peoples Bancorp, Inc. | 700 | 21378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc. | 76807 | 8480261 |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred Bank | 400 | 34618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Primis Financial Corp. | 1200 | 13020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Provident Financial Services, Inc. | 2743 | 48085 |
| &nbsp;&nbsp;&nbsp;&nbsp; QCR Holdings, Inc. | 200 | 13580 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBB Bancorp | 400 | 6884 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&T Bancorp, Inc. | 200 | 7564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seacoast Banking Corp. of Florida | 388422 | 10728216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shore Bancshares, Inc. | 500 | 7860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sierra Bancorp | 200 | 5938 |
| &nbsp;&nbsp;&nbsp;&nbsp; SmartFinancial, Inc. | 3315 | 111981 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Plains Financial, Inc. | 400 | 14416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern First Bancshares, Inc. (a) | 100 | 3803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Missouri Bancorp, Inc. | 100 | 5478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Southside Bancshares, Inc. | 1300 | 38259 |
| &nbsp;&nbsp;&nbsp;&nbsp; SouthState Corp. | 32 | 2945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stellar Bancorp, Inc. | 90181 | 2523264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synovus Financial Corp. | 236637 | 12245965 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc. (a) | 134088 | 10646587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Third Coast Bancshares, Inc. (a) | 100 | 3267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tompkins Financial Corp. | 100 | 6273 |
| &nbsp;&nbsp;&nbsp;&nbsp; TriCo Bancshares | 700 | 28343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. | 21973 | 944619 |
| &nbsp;&nbsp;&nbsp;&nbsp; TrustCo Bank Corp. | 420 | 14036 |
| &nbsp;&nbsp;&nbsp;&nbsp; UMB Financial Corp. | 20 | 2103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Univest Financial Corp. | 1000 | 30040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veritex Holdings, Inc. | 6788 | 177167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Washington Trust Bancorp, Inc. | 600 | 16968 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co. (b) | 105538 | 8455705 |
| &nbsp;&nbsp;&nbsp;&nbsp; West BanCorp, Inc. | 200 | 3926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Westamerica BanCorp | 800 | 38752 |
|  |  | 124603296 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — 3.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3D Systems Corp. (a) | 22500 | 34650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Industries Group (a) | 100 | 336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Albany International Corp., Class A | 100 | 7013 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allient, Inc. | 500 | 18155 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMETEK, Inc. | 90000 | 16286400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amprius Technologies, Inc. (a) | 2700 | 11367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apogee Enterprises, Inc. | 1400 | 56840 |
| &nbsp;&nbsp;&nbsp;&nbsp; Argan, Inc. | 500 | 110240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Astronics Corp. (a) | 1300 | 43524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atmus Filtration Technologies, Inc. | 30 | 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc. (a) | 200 | 165588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ballard Power Systems, Inc. (a) | 56100 | 89199 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Bloom Energy Corp., Class A (a) | 55638 | $1330861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blue Bird Corp. (a) | 1500 | 64740 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlueLinx Holdings, Inc. (a) | 600 | 44628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carrier Global Corp. | 26604 | 1947147 |
| &nbsp;&nbsp;&nbsp;&nbsp; ChargePoint Holdings, Inc. (a) | 300 | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Vehicle Group, Inc. (a) | 8300 | 13778 |
| &nbsp;&nbsp;&nbsp;&nbsp; Concrete Pumping Holdings, Inc. (a) | 1200 | 7380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cummins, Inc. | 31 | 10152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Signal Corp. | 300 | 31926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fluence Energy, Inc. (a) | 19100 | 128161 |
| &nbsp;&nbsp;&nbsp;&nbsp; FreightCar America, Inc. (a) | 200 | 1724 |
| &nbsp;&nbsp;&nbsp;&nbsp; FTAI Aviation Ltd. | 14000 | 1610560 |
| &nbsp;&nbsp;&nbsp;&nbsp; FTC Solar, Inc. (a) | 0 | 164 |
| &nbsp;&nbsp;&nbsp;&nbsp; FuelCell Energy, Inc. (a) | 21 | 118 |
| &nbsp;&nbsp;&nbsp;&nbsp; GE Vernova, Inc. | 4799 | 2539391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Industrial Co. | 700 | 18907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gorman-Rupp Co. (The) | 400 | 14688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Graco, Inc. | 74213 | 6380092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp. (a) | 3300 | 40227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Griffon Corp. | 1600 | 115792 |
| &nbsp;&nbsp;&nbsp;&nbsp; HEICO Corp. | 4200 | 1377600 |
| &nbsp;&nbsp;&nbsp;&nbsp; HEICO Corp., Class A | 67800 | 17543250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Helios Technologies, Inc. | 400 | 13348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hudson Technologies, Inc. (a) | 6000 | 48720 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEX Corp. | 31012 | 5444777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insteel Industries, Inc. | 400 | 14884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuitive Machines, Inc. (a) | 14900 | 161963 |
| &nbsp;&nbsp;&nbsp;&nbsp; JELD-WEN Holding, Inc. (a) | 1200 | 4704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Karat Packaging, Inc. | 100 | 2816 |
| &nbsp;&nbsp;&nbsp;&nbsp; Karman Holdings, Inc. (a) | 93112 | 4690051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc. (a) | 133017 | 6178640 |
| &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. (b) | 2918 | 731951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 23600 | 10930104 |
| &nbsp;&nbsp;&nbsp;&nbsp; LSI Industries, Inc. | 100 | 1701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Manitowoc Co., Inc. (The) (a) | 4100 | 49282 |
| &nbsp;&nbsp;&nbsp;&nbsp; Matrix Service Co. (a) | 500 | 6755 |
| &nbsp;&nbsp;&nbsp;&nbsp; McGrath RentCorp | 600 | 69576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microvast Holdings, Inc. (a) | 900 | 3267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miller Industries, Inc. | 300 | 13338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net Power, Inc. (a) | 1200 | 2964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | 2800 | 1399944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nuvve Holding Corp. (a) | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; NWPX Infrastructure, Inc. (a) | 400 | 16404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palladyne AI Corp. (a) | 33 | 286 |
| &nbsp;&nbsp;&nbsp;&nbsp; Park Aerospace Corp. | 500 | 7385 |
| &nbsp;&nbsp;&nbsp;&nbsp; QXO, Inc. (a) | 184505 | 3974238 |
| &nbsp;&nbsp;&nbsp;&nbsp; RBC Bearings, Inc. (a) | 46338 | 17830862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rush Enterprises, Inc., Class A | 100 | 5151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shyft Group, Inc. (The) | 1200 | 15048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | 46802 | 7268819 |
| &nbsp;&nbsp;&nbsp;&nbsp; StandardAero, Inc. (a) | 199525 | 6314966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc. (a) | 2300 | 530679 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Tecnoglass, Inc. | 600 | $46416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terex Corp. | 500 | 23345 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thermon Group Holdings, Inc. (a) | 1000 | 28080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Titan Machinery, Inc. (a) | 1600 | 31696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transcat, Inc. (a) | 100 | 8596 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tutor Perini Corp. (a) | 2600 | 121628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ultralife Corp. (a) | 500 | 4490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vicor Corp. (a) | 600 | 27216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voyager Technologies, Inc., Class A (a) | 46556 | 1827323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wabash National Corp. | 500 | 5315 |
| &nbsp;&nbsp;&nbsp;&nbsp; WillScot Holdings Corp. | 41615 | 1140251 |
|  |  | 119042882 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial & Professional Services — 0.5%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ACCO Brands Corp. | 8700 | 31146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bitcoin Depot, Inc. (a) | 5400 | 27378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bridger Aerospace Group Holdings, Inc. (a) | 100 | 193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Civeo Corp. | 725 | 16740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Copart, Inc. (a) | 168000 | 8243760 |
| &nbsp;&nbsp;&nbsp;&nbsp; CRA International, Inc. | 1300 | 243581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ennis, Inc. | 800 | 14512 |
| &nbsp;&nbsp;&nbsp;&nbsp; ExlService Holdings, Inc. (a) | 6500 | 284635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiverr International Ltd. (a) | 5700 | 167181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forrester Research, Inc. (a) | 1500 | 14850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Covey Co. (a) | 600 | 13692 |
| &nbsp;&nbsp;&nbsp;&nbsp; GEE Group, Inc. (a) | 5200 | 1023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthcare Services Group, Inc. (a) | 2200 | 33066 |
| &nbsp;&nbsp;&nbsp;&nbsp; HNI Corp. | 34 | 1672 |
| &nbsp;&nbsp;&nbsp;&nbsp; IBEX Holdings Ltd. (a) | 1800 | 52380 |
| &nbsp;&nbsp;&nbsp;&nbsp; ICF International, Inc. | 1000 | 84710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kelly Services, Inc., Class A | 5300 | 62063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legalzoom.com, Inc. (a) | 2500 | 22275 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liquidity Services, Inc. (a) | 500 | 11795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Millennium Corp. (a),(b),(c) | 60879 | 2876533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mistras Group, Inc. (a) | 600 | 4806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paylocity Holding Corp. (a) | 400 | 72476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quad/Graphics, Inc. | 2300 | 12995 |
| &nbsp;&nbsp;&nbsp;&nbsp; RCM Technologies, Inc. (a) | 500 | 11785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Republic Services, Inc. | 300 | 73983 |
| &nbsp;&nbsp;&nbsp;&nbsp; ShiftPixy, Inc. (a),(c) | 1 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; TELUS International CDA, Inc. (a) | 400 | 1452 |
| &nbsp;&nbsp;&nbsp;&nbsp; TrueBlue, Inc. (a) | 700 | 4536 |
| &nbsp;&nbsp;&nbsp;&nbsp; TTEC Holdings, Inc. (a) | 10900 | 52429 |
| &nbsp;&nbsp;&nbsp;&nbsp; UL Solutions, Inc., Class A | 69808 | 5086211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Upwork, Inc. (a) | 18900 | 254016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verisk Analytics, Inc., Class A (b) | 2409 | 750403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waste Connections, Inc. | 3200 | 597504 |
|  |  | 19125788 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Durables & Apparel — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Acushnet Holdings Corp. | 600 | 43692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Algorhythm Holdings, Inc. (a) | 5 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allbirds, Inc., Class A (a) | 395 | 4199 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Beazer Homes USA, Inc. (a) | 500 | $11185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada Goose Holdings, Inc. (a) | 300 | 3357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deckers Outdoor Corp. (a) | 5100 | 525657 |
| &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc. | 3800 | 489896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ethan Allen Interiors, Inc. | 200 | 5570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Figs, Inc., Class A (a) | 3800 | 21432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fossil Group, Inc. (a) | 11300 | 16724 |
| &nbsp;&nbsp;&nbsp;&nbsp; G-III Apparel Group Ltd. (a) | 300 | 6720 |
| &nbsp;&nbsp;&nbsp;&nbsp; GoPro, Inc., Class A (a) | 31500 | 23855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hooker Furnishings Corp. | 200 | 2116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Installed Building Products, Inc. | 200 | 36064 |
| &nbsp;&nbsp;&nbsp;&nbsp; iRobot Corp. (a) | 4700 | 14711 |
| &nbsp;&nbsp;&nbsp;&nbsp; JAKKS Pacific, Inc. | 600 | 12468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson Outdoors, Inc., Class A | 300 | 9081 |
| &nbsp;&nbsp;&nbsp;&nbsp; KB Home | 5700 | 301929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legacy Housing Corp. (a) | 500 | 11330 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leggett & Platt, Inc. | 12900 | 115068 |
| &nbsp;&nbsp;&nbsp;&nbsp; M/I Homes, Inc. (a) | 400 | 44848 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meritage Homes Corp. | 200 | 13394 |
| &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc., Class B | 45200 | 3211008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peloton Interactive, Inc., Class A (a) | 91000 | 631540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polaris, Inc. | 6900 | 280485 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smith & Wesson Brands, Inc. | 3500 | 30380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonos, Inc. (a) | 400 | 4324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Superior Group of Cos., Inc. | 200 | 2060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc. (a) | 5300 | 169335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unifi, Inc. (a) | 1800 | 9396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Electronics, Inc. (a) | 1200 | 7944 |
| &nbsp;&nbsp;&nbsp;&nbsp; VF Corp. | 1500 | 17625 |
|  |  | 6077405 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Services — 0.7%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accel Entertainment, Inc. (a) | 300 | 3531 |
| &nbsp;&nbsp;&nbsp;&nbsp; ADT, Inc. | 133017 | 1126654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adtalem Global Education, Inc. (a) | 200 | 25446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc., Class A (a) | 57800 | 7649252 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allurion Technologies, Inc. (a) | 49 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Public Education, Inc. (a) | 300 | 9138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amesite, Inc. (a) | 33 | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bloomin' Brands, Inc. | 20400 | 175644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brinker International, Inc. (a) | 3900 | 703287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carriage Services, Inc. | 900 | 41166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cava Group, Inc. (a) | 6800 | 572764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chegg, Inc. (a) | 24500 | 29645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coursera, Inc. (a) | 1000 | 8760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Denny's Corp. (a) | 400 | 1640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dine Brands Global, Inc. | 3700 | 90021 |
| &nbsp;&nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A (a) | 39300 | 9687843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Duolingo, Inc. (a) | 9400 | 3854188 |
| &nbsp;&nbsp;&nbsp;&nbsp; European Wax Center, Inc., Class A (a) | 2400 | 13512 |
| &nbsp;&nbsp;&nbsp;&nbsp; GEN Restaurant Group, Inc. (a) | 300 | 1170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kura Sushi USA, Inc., Class A (a) | 300 | 25824 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Time Group Holdings, Inc. (a) | 10300 | $312399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lincoln Educational Services Corp. (a) | 700 | 16135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lindblad Expeditions Holdings, Inc. (a) | 2100 | 24507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings Ltd. (a) | 9900 | 200772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Potbelly Corp. (a) | 400 | 4900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Red Robin Gourmet Burgers, Inc. (a) | 1100 | 6369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. (b) | 2809 | 879610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rush Street Interactive, Inc. (a) | 1200 | 17880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sabre Corp. (a) | 68800 | 217408 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonder Holdings, Inc. (a) | 25 | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweetgreen, Inc., Class A (a) | 13600 | 202368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viking Holdings Ltd. (a) | 25700 | 1369553 |
|  |  | 27271660 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financials — 2.8%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Acadian Asset Management, Inc. | 36395 | 1282560 |
| &nbsp;&nbsp;&nbsp;&nbsp; AG Mortgage Investment Trust, Inc. | 100 | 755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alerus Financial Corp. | 400 | 8656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc. | 200 | 7790 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co. (b) | 72 | 22967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Angel Oak Mortgage REIT, Inc. | 100 | 942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Commercial Real Estate Corp. | 200 | 954 |
| &nbsp;&nbsp;&nbsp;&nbsp; ARMOUR Residential REIT, Inc. | 40 | 672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlanticus Holdings Corp. (a) | 100 | 5475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Specialty Finance, Inc. | 1500 | 22560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barings BDC, Inc. | 6800 | 62152 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock TCP Capital Corp. | 7601 | 58528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bridge Investment Group Holdings, Inc., Class A | 2300 | 23023 |
| &nbsp;&nbsp;&nbsp;&nbsp; BrightSpire Capital, Inc. | 1100 | 5555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital Southwest Corp. | 11300 | 249052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlyle Secured Lending, Inc. | 400 | 5472 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cass Information Systems, Inc. | 200 | 8690 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 3100 | 722951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The) | 73414 | 6698293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cherry Hill Mortgage Investment Corp. | 3500 | 9555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chime Financial, Inc., Class A (a) | 26604 | 918104 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chimera Investment Corp. | 1498 | 20777 |
| &nbsp;&nbsp;&nbsp;&nbsp; CION Investment Corp. | 4000 | 38280 |
| &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Inc. | 40700 | 11217734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compass Diversified Holdings | 400 | 2512 |
| &nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Corp. (a) | 200 | 101886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crescent Capital BDC, Inc. | 1600 | 22560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dave, Inc. (a) | 2800 | 751548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ellington Financial, Inc. | 12 | 156 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enact Holdings, Inc. | 500 | 18575 |
| &nbsp;&nbsp;&nbsp;&nbsp; Encore Capital Group, Inc. (a) | 200 | 7742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essent Group Ltd. | 900 | 54657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Etoro Group Ltd., Class A (a) | 6652 | 442957 |
| &nbsp;&nbsp;&nbsp;&nbsp; EZCORP, Inc., Class A (a) | 12400 | 172112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. (b) | 14410 | 1173118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidus Investment Corp. | 1500 | 30300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flywire Corp. (a) | 74372 | 870152 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Galaxy Digital, Inc., Class A (a) | 332430 | $7280217 |
| &nbsp;&nbsp;&nbsp;&nbsp; GCM Grosvenor, Inc., Class A | 43079 | 497993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Green Dot Corp., Class A (a) | 11800 | 127204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hercules Capital, Inc. | 13900 | 254092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc., Class A | 37900 | 2100039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco Mortgage Capital, Inc. | 9900 | 77616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jackson Financial, Inc., Class A | 100 | 8879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. | 7400 | 404706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jefferson Capital, Inc. (a) | 16701 | 308133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Corp., Class A | 10200 | 109650 |
| &nbsp;&nbsp;&nbsp;&nbsp; LendingClub Corp. (a) | 5700 | 68571 |
| &nbsp;&nbsp;&nbsp;&nbsp; LendingTree, Inc. (a) | 200 | 7414 |
| &nbsp;&nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. | 13302 | 4987851 |
| &nbsp;&nbsp;&nbsp;&nbsp; MarketAxess Holdings, Inc. | 30814 | 6881999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marqeta, Inc., Class A (a) | 478686 | 2790739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 23800 | 13374172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medallion Financial Corp. | 1400 | 13342 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merchants Bancorp | 50 | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monroe Capital Corp. | 1200 | 7632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morningstar, Inc. | 600 | 188358 |
| &nbsp;&nbsp;&nbsp;&nbsp; MSCI, Inc., Class A | 11700 | 6747858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nasdaq, Inc. | 133017 | 11894380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Navient Corp. | 500 | 7050 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Mountain Finance Corp. | 6100 | 64355 |
| &nbsp;&nbsp;&nbsp;&nbsp; New York Mortgage Trust, Inc. | 75 | 503 |
| &nbsp;&nbsp;&nbsp;&nbsp; NMI Holdings, Inc. (a) | 1200 | 50628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Trust Corp. | 12497 | 1584495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nuveen Churchill Direct Lending Corp. | 3100 | 50189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oaktree Specialty Lending Corp. | 31 | 423 |
| &nbsp;&nbsp;&nbsp;&nbsp; OFS Capital Corp. | 1900 | 16036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Open Lending Corp., Class A (a) | 19400 | 37636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oportun Financial Corp. (a) | 8600 | 61576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oppenheimer Holdings, Inc., Class A | 600 | 39462 |
| &nbsp;&nbsp;&nbsp;&nbsp; OppFi, Inc. (a) | 6200 | 86738 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oxford Square Capital Corp. | 10000 | 22300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palmer Square Capital BDC, Inc. | 800 | 11168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payoneer Global, Inc. (a) | 38300 | 262355 |
| &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc. (a) | 3041 | 226007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paysafe Ltd. (a) | 1475 | 18615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paysign, Inc. (a) | 2800 | 20160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Piper Sandler Cos. | 15455 | 4295563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Portman Ridge Finance Corp. | 2000 | 25040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prestige Wealth, Inc. (a) | 20 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; Priority Technology Holdings, Inc. (a) | 900 | 7002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prospect Capital Corp. | 48100 | 152958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Radian Group, Inc. | 900 | 32418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regional Management Corp. | 200 | 5842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rithm Property Trust, Inc. | 2500 | 6750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A (a) | 97600 | 9138288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rocket Cos., Inc., Class A (a) | 15100 | 214118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Runway Growth Finance Corp. | 8900 | 95497 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P Global, Inc. | 12 | 6327 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Saratoga Investment Corp. | 2200 | $54560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sezzle, Inc. (a) | 300 | 53775 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc., Class A (a) | 1689 | 167397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Silvercrest Asset Management Group, Inc., Class A | 300 | 4758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sixth Street Specialty Lending, Inc. | 2500 | 59525 |
| &nbsp;&nbsp;&nbsp;&nbsp; SLR Investment Corp. | 5000 | 80700 |
| &nbsp;&nbsp;&nbsp;&nbsp; SoFi Technologies, Inc. (a) | 86300 | 1571523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprott, Inc. | 100 | 6909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stellus Capital Investment Corp. | 3900 | 54366 |
| &nbsp;&nbsp;&nbsp;&nbsp; TPG RE Finance Trust, Inc. | 13500 | 104220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinity Capital, Inc. | 4700 | 66129 |
| &nbsp;&nbsp;&nbsp;&nbsp; TriplePoint Venture Growth BDC Corp., Class B | 5602 | 39270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Upstart Holdings, Inc. (a) | 10100 | 653268 |
| &nbsp;&nbsp;&nbsp;&nbsp; UWM Holdings Corp. | 400 | 1656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 9457 | 3357708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waterstone Financial, Inc. | 300 | 4143 |
| &nbsp;&nbsp;&nbsp;&nbsp; WhiteHorse Finance, Inc. | 3500 | 30520 |
| &nbsp;&nbsp;&nbsp;&nbsp; WisdomTree, Inc. | 13200 | 151932 |
|  |  | 106174136 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Energy — 0.6%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aemetis, Inc. (a) | 200 | 496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Antero Resources Corp. (a) | 22600 | 910328 |
| &nbsp;&nbsp;&nbsp;&nbsp; APA Corp. | 23137 | 423176 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas Energy Solutions, Inc. | 66509 | 889225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berry Corp. | 2900 | 8033 |
| &nbsp;&nbsp;&nbsp;&nbsp; BP PLC (b) | 72838 | 362900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrus Energy Corp., Class A (a) | 1000 | 183180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. | 7500 | 1826400 |
| &nbsp;&nbsp;&nbsp;&nbsp; CNX Resources Corp. (a) | 1100 | 37048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crescent Energy Co., Class A | 66509 | 571977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Devon Energy Corp. | 17 | 541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. (b) | 7185 | 987219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Energy Co. PLC | 100 | 1467 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enerflex Ltd. | 1800 | 14202 |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp. (b) | 17964 | 1047660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expand Energy Corp. | 18157 | 2123280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flowco Holdings, Inc., Class A | 18623 | 331676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forum Energy Technologies, Inc. (a) | 400 | 7788 |
| &nbsp;&nbsp;&nbsp;&nbsp; FutureFuel Corp. | 4000 | 15520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Granite Ridge Resources, Inc. | 1100 | 7007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Green Plains, Inc. (a) | 14400 | 86832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gulfport Energy Corp. (a) | 400 | 80468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. (b) | 17662 | 2446893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Houston American Energy Corp. (a) | 40 | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Infinity Natural Resources, Inc., Class A (a) | 13302 | 243560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kodiak Gas Services, Inc. | 64707 | 2217509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 2200 | 365442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries Ltd. (a) | 200 | 5604 |
| &nbsp;&nbsp;&nbsp;&nbsp; NACCO Industries, Inc., Class A | 100 | 4431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Natural Gas Services Group, Inc. (a) | 400 | 10324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Navigator Holdings Ltd. | 2600 | 36790 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; New Fortress Energy, Inc. | 5700 | $18924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nordic American Tankers Ltd. | 25900 | 68117 |
| &nbsp;&nbsp;&nbsp;&nbsp; North American Construction Group Ltd. | 1600 | 25568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Obsidian Energy Ltd. (a) | 200 | 1110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oil States International, Inc. (a) | 2600 | 13936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ovintiv, Inc. | 18 | 685 |
| &nbsp;&nbsp;&nbsp;&nbsp; PBF Energy, Inc., Class A | 18200 | 394394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Precision Drilling Corp. (a) | 600 | 28344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shell PLC, ADR (b) | 12031 | 847103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shell PLC (b) | 71946 | 2523628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solaris Energy Infrastructure, Inc., Class A | 2700 | 76383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teekay Corp. (a) | 1600 | 13200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transocean Ltd. (a) | 158033 | 409305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vermilion Energy, Inc. | 10800 | 78624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viper Energy, Inc. (b) | 65331 | 2491071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vital Energy, Inc. (a) | 50 | 804 |
| &nbsp;&nbsp;&nbsp;&nbsp; W&T Offshore, Inc. | 22400 | 36960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weatherford International PLC (b) | 7847 | 394783 |
|  |  | 22670339 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Financial Services — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Curo Group Holdings LLC (a),(b) | 645803 | 3336864 |
| &nbsp;&nbsp;&nbsp;&nbsp; PennantPark Investment Corp. | 14600 | 99864 |
|  |  | 3436728 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food & Staples Retailing — 0.4%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BBB Foods, Inc., Class A (a) | 66508 | 1846262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 10900 | 10790346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar General Corp. | 8501 | 972344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grocery Outlet Holding Corp. (a) | 2800 | 34776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guardian Pharmacy Services, Inc., Class A (a) | 53208 | 1133863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingles Markets, Inc., Class A | 500 | 31690 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maison Solutions, Inc., Class A (a) | 46 | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp; Natural Grocers by Vitamin Cottage, Inc., Class C | 100 | 3925 |
| &nbsp;&nbsp;&nbsp;&nbsp; SpartanNash Co. | 1400 | 37086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc. (a) | 400 | 65856 |
| &nbsp;&nbsp;&nbsp;&nbsp; Village Super Market, Inc., Class A | 200 | 7700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weis Markets, Inc. | 1100 | 79739 |
|  |  | 15003628 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food, Beverage & Tobacco — 0.6%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AgriFORCE Growing Systems Ltd. (a) | 14 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp; B&G Foods, Inc., Class A | 16400 | 69372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beeline Holdings, Inc. (a) | 19 | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cal-Maine Foods, Inc. | 18623 | 1855410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Co. (b) | 189 | 13372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Conagra Brands, Inc. | 23400 | 478998 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hain Celestial Group, Inc. (The) (a) | 21100 | 32072 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hormel Foods Corp. | 7600 | 229900 |
| &nbsp;&nbsp;&nbsp;&nbsp; John B Sanfilippo & Son, Inc. | 500 | 31620 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kraft Heinz Co. (b) | 154 | 3976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Laird Superfood, Inc. (a) | 400 | 2520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 500 | 25925 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Lifeway Foods, Inc. (a) | 100 | $2465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Limoneira Co. | 400 | 6260 |
| &nbsp;&nbsp;&nbsp;&nbsp; MGP Ingredients, Inc. | 2900 | 86913 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Beverage Corp. (a) | 2300 | 99452 |
| &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc. (b) | 4767 | 868214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Primo Brands Corp., Class A | 531457 | 15741756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Smithfield Foods, Inc. | 71208 | 1675524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tootsie Roll Industries, Inc. | 1445 | 48335 |
| &nbsp;&nbsp;&nbsp;&nbsp; TreeHouse Foods, Inc. (a) | 200 | 3884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Turning Point Brands, Inc. | 700 | 53039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Corp. | 1900 | 110656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Utz Brands, Inc. | 1200 | 15060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Village Farms International, Inc. (a) | 4000 | 4400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vita Coco Co., Inc. (The) (a) | 30604 | 1104804 |
|  |  | 22563966 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Health Care Equipment & Services — 1.3%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc. (a) | 8100 | 89910 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Well Corp., Class A (a) | 335 | 2978 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMN Healthcare Services, Inc. (a) | 2800 | 57876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Artivion, Inc. (a) | 100 | 3110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assure Holdings Corp. (a) | 0 | 80 |
| &nbsp;&nbsp;&nbsp;&nbsp; AtriCure, Inc. (a) | 7100 | 232667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Axogen, Inc. (a) | 800 | 8680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp. (a) | 86500 | 9290965 |
| &nbsp;&nbsp;&nbsp;&nbsp; BrightSpring Health Services, Inc. (a) | 43605 | 1028642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Butterfly Network, Inc. (a) | 3200 | 6400 |
| &nbsp;&nbsp;&nbsp;&nbsp; CareCloud, Inc. (a) | 1700 | 4012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cencora, Inc. | 16200 | 4857570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centene Corp. (a) | 54900 | 2979972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ceribell, Inc. (a) | 1600 | 29968 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cerus Corp. (a) | 9200 | 12972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cigna Group (b) | 2494 | 824467 |
| &nbsp;&nbsp;&nbsp;&nbsp; Community Health Systems, Inc. (a) | 27500 | 93500 |
| &nbsp;&nbsp;&nbsp;&nbsp; CorVel Corp. (a) | 400 | 41112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cosmos Health, Inc. (a) | 47 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVRx, Inc. (a) | 700 | 4116 |
| &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc. (a),(b) | 16 | 2279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Definitive Healthcare Corp. (a) | 2100 | 8190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electromed, Inc. (a) | 1800 | 39582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Encompass Health Corp. | 800 | 98104 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fulgent Genetics, Inc. (a) | 700 | 13916 |
| &nbsp;&nbsp;&nbsp;&nbsp; GoodRx Holdings, Inc., Class A (a) | 13000 | 64740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guardant Health, Inc. (a) | 29700 | 1545588 |
| &nbsp;&nbsp;&nbsp;&nbsp; HealthStream, Inc. | 600 | 16602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hinge Health, Inc., Class A (a) | 66452 | 3438891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. | 19500 | 4767360 |
| &nbsp;&nbsp;&nbsp;&nbsp; iCAD, Inc. (a) | 1200 | 4572 |
| &nbsp;&nbsp;&nbsp;&nbsp; InfuSystem Holdings, Inc. (a) | 500 | 3120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insulet Corp. (a) | 1000 | 314180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Integer Holdings Corp. (a) | 600 | 73782 |
| &nbsp;&nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp. (a) | 6300 | 77301 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. (a),(b) | 5201 | $2826275 |
| &nbsp;&nbsp;&nbsp;&nbsp; iRadimed Corp. | 400 | 23916 |
| &nbsp;&nbsp;&nbsp;&nbsp; iSpecimen, Inc. (a) | 26 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; LeMaitre Vascular, Inc. | 400 | 33220 |
| &nbsp;&nbsp;&nbsp;&nbsp; LifeMD, Inc. (a) | 1600 | 21792 |
| &nbsp;&nbsp;&nbsp;&nbsp; LivaNova PLC (a) | 2100 | 94542 |
| &nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp. | 1700 | 1245726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merit Medical Systems, Inc. (a) | 7200 | 673056 |
| &nbsp;&nbsp;&nbsp;&nbsp; ModivCare, Inc. (a) | 37 | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp; National HealthCare Corp. | 400 | 42804 |
| &nbsp;&nbsp;&nbsp;&nbsp; National Research Corp. | 100 | 1680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neuronetics, Inc. (a) | 2600 | 9074 |
| &nbsp;&nbsp;&nbsp;&nbsp; NeuroPace, Inc. (a) | 200 | 2228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novocure Ltd. (a) | 5400 | 96120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc. (a) | 500 | 14700 |
| &nbsp;&nbsp;&nbsp;&nbsp; OPKO Health, Inc. (a) | 2801 | 3697 |
| &nbsp;&nbsp;&nbsp;&nbsp; OptimizeRx Corp. (a) | 100 | 1350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Option Care Health, Inc. (a) | 3200 | 103936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Outset Medical, Inc. (a) | 366 | 7031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Owens & Minor, Inc. (a) | 6600 | 60060 |
| &nbsp;&nbsp;&nbsp;&nbsp; PACS Group, Inc. (a) | 4600 | 59432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pennant Group, Inc. (a) | 2500 | 74625 |
| &nbsp;&nbsp;&nbsp;&nbsp; PROCEPT BioRobotics Corp. (a) | 600 | 34560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pulmonx Corp. (a) | 3200 | 8288 |
| &nbsp;&nbsp;&nbsp;&nbsp; RxSight, Inc. (a) | 3500 | 45500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schrodinger, Inc. (a) | 8500 | 171020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Senseonics Holdings, Inc. (a) | 8200 | 3907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sensus Healthcare, Inc. (a) | 300 | 1422 |
| &nbsp;&nbsp;&nbsp;&nbsp; SI-BONE, Inc. (a) | 2800 | 52696 |
| &nbsp;&nbsp;&nbsp;&nbsp; SiNtx Technologies, Inc. (a) | 43 | 137 |
| &nbsp;&nbsp;&nbsp;&nbsp; STAAR Surgical Co. (a) | 500 | 8390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tactile Systems Technology, Inc. (a) | 800 | 8112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc. (a) | 14200 | 264688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teladoc Health, Inc. (a) | 34100 | 297011 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. (a),(b) | 2664 | 468864 |
| &nbsp;&nbsp;&nbsp;&nbsp; TransMedics Group, Inc. (a) | 3000 | 402030 |
| &nbsp;&nbsp;&nbsp;&nbsp; TruBridge, Inc. (a) | 1200 | 28104 |
| &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 13500 | 4211595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Varex Imaging Corp. (a) | 3200 | 27744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veeva Systems, Inc., Class A (a) | 6200 | 1785476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viemed Healthcare, Inc. (a) | 1600 | 11056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waystar Holding Corp. (a) | 175020 | 7153067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zynex, Inc. (a) | 4300 | 11094 |
|  |  | 50427390 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Household & Personal Products — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BellRing Brands, Inc. (a),(b) | 7976 | 462050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clorox Co. | 1600 | 192112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Herbalife Ltd. (a) | 6700 | 57754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medifast, Inc. (a) | 2600 | 36530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nature's Sunshine Products, Inc. (a) | 500 | 7395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nu Skin Enterprises, Inc., Class A | 11700 | 93483 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Olaplex Holdings, Inc. (a) | 14300 | $20020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spectrum Brands Holdings, Inc. | 700 | 37100 |
| &nbsp;&nbsp;&nbsp;&nbsp; USANA Health Sciences, Inc. (a) | 200 | 6106 |
| &nbsp;&nbsp;&nbsp;&nbsp; WD-40 Co. | 300 | 68427 |
|  |  | 980977 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Insurance — 1.9%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Coastal Insurance Corp., Class C (a) | 800 | 8896 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Integrity Insurance Group, Inc. (a) | 13301 | 244605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aon PLC, Class A | 5800 | 2069208 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arch Capital Group Ltd. (a) | 103800 | 9450990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aspen Insurance Holdings Ltd., Class A (a) | 15962 | 502324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bowhead Specialty Holdings, Inc. (a) | 15302 | 574284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brighthouse Financial, Inc. (a) | 3700 | 198949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 199525 | 22121337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chubb Ltd. (b) | 514 | 148916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crawford & Co., Class A | 300 | 3174 |
| &nbsp;&nbsp;&nbsp;&nbsp; eHealth, Inc. (a) | 5900 | 25665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Employers Holdings, Inc. | 100 | 4718 |
| &nbsp;&nbsp;&nbsp;&nbsp; F&G Annuities & Life, Inc. | 800 | 25584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Financial, Inc. | 200 | 11212 |
| &nbsp;&nbsp;&nbsp;&nbsp; Greenlight Capital Re Ltd., Class A (a) | 800 | 11496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hagerty, Inc., Class A (a) | 1400 | 14154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. (b) | 413 | 52397 |
| &nbsp;&nbsp;&nbsp;&nbsp; HCI Group, Inc. | 1600 | 243520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hearthside Food Solutions LLC (a),(b) | 215636 | 4118648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heritage Insurance Holdings, Inc. (a) | 3600 | 89784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Horace Mann Educators Corp. | 100 | 4297 |
| &nbsp;&nbsp;&nbsp;&nbsp; James River Group Holdings Ltd. | 7000 | 41020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | 20018 | 9686710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lemonade, Inc. (a) | 5827 | 255281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lincoln National Corp. | 1300 | 44980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 400 | 87456 |
| &nbsp;&nbsp;&nbsp;&nbsp; MBIA, Inc. (a) | 1400 | 6076 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercury General Corp. | 2300 | 154882 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oscar Health, Inc., Class A (a) | 1700 | 36448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Progressive Corp. (b) | 660 | 176128 |
| &nbsp;&nbsp;&nbsp;&nbsp; RLI Corp. | 165750 | 11970465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryan Specialty Holdings, Inc., Class A | 1200 | 81588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skyward Specialty Insurance Group, Inc. (a) | 4100 | 236939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tiptree, Inc. | 200 | 4716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Travelers Cos., Inc. (b) | 330 | 88288 |
| &nbsp;&nbsp;&nbsp;&nbsp; TWFG, Inc. (a) | 11141 | 389935 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Fire Group, Inc. | 1400 | 40180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Insurance Holdings, Inc. | 4100 | 113693 |
| &nbsp;&nbsp;&nbsp;&nbsp; W R Berkley Corp. | 130500 | 9587835 |
|  |  | 72926778 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.6%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AdvanSix, Inc. | 500 | 11875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Albemarle Corp. | 200 | 12534 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Vanguard Corp. (a) | 2800 | 10976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ampco-Pittsburgh Corp. (a) | 300 | 888 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Ardagh Metal Packaging SA | 4700 | $20116 |
| &nbsp;&nbsp;&nbsp;&nbsp; B2Gold Corp. | 310000 | 1119100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Balchem Corp. | 600 | 95520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centerra Gold, Inc. | 9800 | 70658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemours Co. (The) | 5500 | 62975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clearwater Paper Corp. (a) | 800 | 21792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc. (a) | 400 | 3040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Coeur Mining, Inc. (a) | 18501 | 163919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dakota Gold Corp. (a) | 1400 | 5166 |
| &nbsp;&nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. (b) | 19283 | 1322621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | 300 | 60633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ecovyst, Inc. (a) | 39905 | 328418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinox Gold Corp. (a) | 58500 | 336375 |
| &nbsp;&nbsp;&nbsp;&nbsp; FMC Corp. | 8300 | 346525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortuna Mining Corp. (a) | 10000 | 65400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franco-Nevada Corp. | 10100 | 1655592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Galiano Gold, Inc. (a) | 200 | 254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ginkgo Bioworks Holdings, Inc. (a) | 612 | 6885 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gold Royalty Corp. (a) | 6800 | 15028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hycroft Mining Holding Corp. (a) | 40 | 125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Innospec, Inc. | 100 | 8409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intrepid Potash, Inc. (a) | 800 | 28584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Knife River Corp. (a) | 100 | 8164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Koppers Holdings, Inc. | 400 | 12860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kronos Worldwide, Inc. | 200 | 1240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Linde PLC | 26000 | 12198680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lithium Americas Corp. (a) | 15 | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp; McEwen Mining, Inc. (a) | 2600 | 24986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metalla Royalty & Streaming Ltd. (a) | 1500 | 5760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metallus, Inc. (a) | 600 | 9246 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mosaic Co. | 27700 | 1010496 |
| &nbsp;&nbsp;&nbsp;&nbsp; MP Materials Corp. (a),(b) | 22770 | 757558 |
| &nbsp;&nbsp;&nbsp;&nbsp; Myers Industries, Inc. | 100 | 1449 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Gold, Inc. (a) | 57200 | 283140 |
| &nbsp;&nbsp;&nbsp;&nbsp; O-I Glass, Inc. (a) | 2600 | 38324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Olin Corp. | 2000 | 40180 |
| &nbsp;&nbsp;&nbsp;&nbsp; OR Royalties, Inc. | 6300 | 161973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Packaging Corp. of America | 1900 | 358055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rayonier Advanced Materials, Inc. (a) | 6900 | 26565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sandstorm Gold Ltd. | 55100 | 517940 |
| &nbsp;&nbsp;&nbsp;&nbsp; SSR Mining, Inc. (a) | 13400 | 170716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teck Resources Ltd., Class B (b) | 979 | 39538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tredegar Corp. (a) | 1800 | 15840 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trilogy Metals, Inc. (a) | 2000 | 2700 |
| &nbsp;&nbsp;&nbsp;&nbsp; TriMas Corp. | 400 | 11444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinseo PLC | 100 | 312 |
| &nbsp;&nbsp;&nbsp;&nbsp; Triple Flag Precious Metals Corp. | 5100 | 120819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tronox Holdings PLC, Class A | 1200 | 6084 |
|  |  | 21597517 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — 2.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A (b) | 77373 | 13635444 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Altice USA, Inc., Class A (a) | 3400 | $7276 |
| &nbsp;&nbsp;&nbsp;&nbsp; AMC Networks, Inc., Class A (a) | 6800 | 42636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Omaha Corp., Class A (a) | 100 | 1404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bumble, Inc., Class A (a) | 14400 | 94896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cardlytics, Inc. (a) | 200 | 329 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cinemark Holdings, Inc. | 4500 | 135810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entravision Communications Corp., Class A | 900 | 2088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eventbrite, Inc., Class A (a) | 14700 | 38661 |
| &nbsp;&nbsp;&nbsp;&nbsp; EverQuote, Inc., Class A (a) | 200 | 4836 |
| &nbsp;&nbsp;&nbsp;&nbsp; EW Scripps Co. (The), Class A (a) | 9700 | 28518 |
| &nbsp;&nbsp;&nbsp;&nbsp; fuboTV, Inc. (a) | 57800 | 223108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gannett Co., Inc. (a) | 1800 | 6444 |
| &nbsp;&nbsp;&nbsp;&nbsp; iHeartMedia, Inc., Class A (a) | 2000 | 3520 |
| &nbsp;&nbsp;&nbsp;&nbsp; IMAX Corp. (a) | 4200 | 117432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Learfield Communications LLC (a),(b),(c) | 91802 | 8170378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One, Class C (a),(b) | 5234 | 546953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Live, Class C (a),(b) | 5586 | 453360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Live, Class A (a),(b) | 3290 | 261489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. (a) | 39905 | 6036828 |
| &nbsp;&nbsp;&nbsp;&nbsp; McLaren Racing Ltd. (a),(b),(c) | 22935 | 4440687 |
| &nbsp;&nbsp;&nbsp;&nbsp; MediaAlpha, Inc., Class A (a) | 800 | 8760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A (b) | 2436 | 1797987 |
| &nbsp;&nbsp;&nbsp;&nbsp; MNTN, Inc., Class A (a) | 6518 | 142549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc. (a),(b) | 11219 | 15023700 |
| &nbsp;&nbsp;&nbsp;&nbsp; New York Times Co., Class A | 8400 | 470232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nextdoor Holdings, Inc. (a) | 7900 | 13114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Playstudios, Inc. (a) | 4500 | 5895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Playtika Holding Corp. | 7700 | 36421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reddit, Inc., Class A (a) | 30600 | 4607442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reservoir Media, Inc. (a) | 600 | 4602 |
| &nbsp;&nbsp;&nbsp;&nbsp; ROBLOX Corp., Class A (a) | 132300 | 13917960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skillz, Inc. (a) | 100 | 682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Snap, Inc., Class A (a) | 163100 | 1417339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spotify Technology SA (a) | 3100 | 2378754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. (a),(b) | 31125 | 7558706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Townsquare Media, Inc., Class A | 2900 | 22939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Travelzoo (a) | 1300 | 16549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Treasure Global, Inc. (a) | 4 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; TrueCar, Inc. (a) | 600 | 1140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vimeo, Inc. (a) | 2000 | 8080 |
| &nbsp;&nbsp;&nbsp;&nbsp; ZoomInfo Technologies, Inc., Class A (a) | 6700 | 67804 |
|  |  | 81752756 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals, Biotechnology & Life Sciences — 1.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10X Genomics, Inc., Class A (a) | 24700 | 286026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 180 Life Sciences Corp. (a) | 31 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4D Molecular Therapeutics, Inc. (a) | 11100 | 41181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 89bio, Inc. (a) | 900 | 8838 |
| &nbsp;&nbsp;&nbsp;&nbsp; AbCellera Biologics, Inc. (a) | 58500 | 200655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Absci Corp. (a) | 9200 | 23644 |
| &nbsp;&nbsp;&nbsp;&nbsp; ACADIA Pharmaceuticals, Inc. (a) | 5300 | 114321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aclaris Therapeutics, Inc. (a) | 12100 | 17182 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Acrivon Therapeutics, Inc. (a) | 300 | $357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Acumen Pharmaceuticals, Inc. (a) | 6300 | 7308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adaptimmune Therapeutics PLC, ADR (a) | 3021 | 724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adicet Bio, Inc. (a) | 11242 | 6858 |
| &nbsp;&nbsp;&nbsp;&nbsp; ADMA Biologics, Inc. (a) | 17900 | 325959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adverum Biotechnologies, Inc. (a) | 170 | 366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alector, Inc. (a) | 9400 | 13160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allogene Therapeutics, Inc. (a) | 42300 | 47799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc. (a) | 2900 | 945661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Altimmune, Inc. (a) | 3400 | 13158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alto Neuroscience, Inc. (a) | 400 | 880 |
| &nbsp;&nbsp;&nbsp;&nbsp; ALX Oncology Holdings, Inc. (a) | 12300 | 5106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amicus Therapeutics, Inc. (a) | 11600 | 66468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals, Inc. (a) | 500 | 11480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amylyx Pharmaceuticals, Inc. (a) | 12400 | 79484 |
| &nbsp;&nbsp;&nbsp;&nbsp; AN2 Therapeutics, Inc. (a) | 3100 | 3286 |
| &nbsp;&nbsp;&nbsp;&nbsp; AnaptysBio, Inc. (a) | 4400 | 97680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anavex Life Sciences Corp. (a) | 12800 | 118016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anika Therapeutics, Inc. (a) | 800 | 8464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apellis Pharmaceuticals, Inc. (a) | 4000 | 69240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied DNA Sciences, Inc. (a) | 1 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Therapeutics, Inc. (a) | 11700 | 3640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aquestive Therapeutics, Inc. (a) | 9900 | 32769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arcus Biosciences, Inc. (a) | 2700 | 21978 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ardelyx, Inc. (a) | 18300 | 71736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrowhead Pharmaceuticals, Inc. (a) | 7500 | 118500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Assertio Holdings, Inc. (a) | 11150 | 7149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atea Pharmaceuticals, Inc. (a) | 8200 | 29520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Athira Pharma, Inc. (a) | 3600 | 1087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atossa Therapeutics, Inc. (a) | 300 | 249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aurinia Pharmaceuticals, Inc. (a) | 1300 | 11011 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc. (a) | 1700 | 11322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beam Therapeutics, Inc. (a) | 7100 | 120771 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioAge Labs, Inc. (a) | 300 | 1239 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioAtla, Inc. (a) | 3000 | 1188 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioCardia, Inc. (a) | 47 | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp; BioCryst Pharmaceuticals, Inc. (a) | 50200 | 449792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biofrontera, Inc. (a) | 14 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biogen, Inc. (a) | 900 | 113031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biomea Fusion, Inc. (a) | 7500 | 13500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bridgebio Pharma, Inc. (a) | 17600 | 759968 |
| &nbsp;&nbsp;&nbsp;&nbsp; C4 Therapeutics, Inc. (a) | 14900 | 21307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cabaletta Bio, Inc. (a) | 9600 | 14592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capricor Therapeutics, Inc. (a) | 900 | 8937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cardiff Oncology, Inc. (a) | 4000 | 12600 |
| &nbsp;&nbsp;&nbsp;&nbsp; CareDx, Inc. (a) | 8200 | 160228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cargo Therapeutics, Inc. (a) | 400 | 1648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caribou Biosciences, Inc. (a) | 22200 | 27972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Caris Life Sciences, Inc. (a) | 13302 | 355429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carisma Therapeutics, Inc. (a) | 22 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cassava Sciences, Inc. (a) | 11500 | 20815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Celcuity, Inc. (a) | 200 | 2670 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Celldex Therapeutics, Inc. (a) | 300 | $6105 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cellectar Biosciences, Inc. (a) | 1 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; Century Therapeutics, Inc. (a) | 5100 | 2849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Climb Bio, Inc. (a) | 1900 | 2356 |
| &nbsp;&nbsp;&nbsp;&nbsp; Codexis, Inc. (a) | 2600 | 6344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Contineum Therapeutics, Inc., Class A (a) | 300 | 1191 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corcept Therapeutics, Inc. (a) | 4900 | 359660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corvus Pharmaceuticals, Inc. (a) | 5400 | 21600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crinetics Pharmaceuticals, Inc. (a) | 200 | 5752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Curis, Inc. (a) | 95 | 220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. (b) | 22574 | 4459268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Design Therapeutics, Inc. (a) | 3700 | 12469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Disc Medicine, Inc. (a) | 200 | 10592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dynavax Technologies Corp. (a) | 22600 | 224192 |
| &nbsp;&nbsp;&nbsp;&nbsp; Editas Medicine, Inc. (a) | 16700 | 36740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevation Oncology, Inc. (a) | 5400 | 1982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Co. (b) | 1240 | 966617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Emergent BioSolutions, Inc. (a) | 8900 | 56782 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enanta Pharmaceuticals, Inc. (a) | 3700 | 27972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Erasca, Inc. (a) | 7400 | 9398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Esperion Therapeutics, Inc. (a) | 36100 | 35537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essa Pharma, Inc. (a) | 4000 | 6800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eton Pharmaceuticals, Inc. (a) | 700 | 9975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evolus, Inc. (a) | 800 | 7368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exelixis, Inc. (a) | 3500 | 154263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eyenovia, Inc. (a) | 49 | 509 |
| &nbsp;&nbsp;&nbsp;&nbsp; EyePoint Pharmaceuticals, Inc. (a) | 1300 | 12233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fate Therapeutics, Inc. (a) | 12700 | 14224 |
| &nbsp;&nbsp;&nbsp;&nbsp; FibroGen, Inc. (a) | 185 | 981 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortrea Holdings, Inc. (a) | 2000 | 9880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fulcrum Therapeutics, Inc. (a) | 7000 | 48160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Generation Bio Co. (a) | 2500 | 800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gossamer Bio, Inc. (a) | 29400 | 36162 |
| &nbsp;&nbsp;&nbsp;&nbsp; GRAIL, Inc. (a) | 600 | 30852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc. (a) | 3300 | 171666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Harmony Biosciences Holdings, Inc. (a) | 1100 | 34760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Harrow, Inc. (a) | 2300 | 70242 |
| &nbsp;&nbsp;&nbsp;&nbsp; Harvard Bioscience, Inc. (a) | 200 | 89 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heron Therapeutics, Inc. (a) | 10400 | 21528 |
| &nbsp;&nbsp;&nbsp;&nbsp; HilleVax, Inc. (a) | 2200 | 4378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hookipa Pharma, Inc. (a) | 60 | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humacyte, Inc. (a) | 6600 | 13794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ideaya Biosciences, Inc. (a) | 6200 | 130324 |
| &nbsp;&nbsp;&nbsp;&nbsp; IGM Biosciences, Inc. (a) | 1900 | 2128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ikena Oncology, Inc. (a) | 1700 | 2278 |
| &nbsp;&nbsp;&nbsp;&nbsp; ImmunityBio, Inc. (a) | 2 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inovio Pharmaceuticals, Inc. (a) | 8 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Insmed, Inc. (a),(b) | 9049 | 910691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intellia Therapeutics, Inc. (a) | 24800 | 232624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc. (a) | 36000 | 1422360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iovance Biotherapeutics, Inc. (a) | 28600 | 49192 |
| &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc. (a) | 13300 | 2095947 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Ironwood Pharmaceuticals, Inc. (a) | 38800 | $27827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jade Biosciences, Inc. (a) | 5 | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kairos Pharma Ltd. (a) | 35 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kalaris Therapeutics, Inc. (a) | 265 | 708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kezar Life Sciences, Inc. (a) | 1050 | 4809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kiniksa Pharmaceuticals International PLC, Class A (a) | 600 | 16602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kodiak Sciences, Inc. (a) | 4600 | 17158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kura Oncology, Inc. (a) | 7300 | 42121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kymera Therapeutics, Inc. (a) | 5700 | 248748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kyverna Therapeutics, Inc. (a) | 1500 | 4605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Larimar Therapeutics, Inc. (a) | 15233 | 44023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leap Therapeutics, Inc. (a) | 500 | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Legend Biotech Corp., ADR (a) | 8700 | 308763 |
| &nbsp;&nbsp;&nbsp;&nbsp; LENZ Therapeutics, Inc. (a) | 128 | 3752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lexeo Therapeutics, Inc. (a) | 300 | 1206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liquidia Corp. (a) | 6100 | 76006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lyell Immunopharma, Inc. (a) | 145 | 1282 |
| &nbsp;&nbsp;&nbsp;&nbsp; MacroGenics, Inc. (a) | 13700 | 16577 |
| &nbsp;&nbsp;&nbsp;&nbsp; MannKind Corp. (a) | 52000 | 194480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maravai LifeSciences Holdings, Inc., Class A (a) | 33400 | 80494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medpace Holdings, Inc. (a) | 3500 | 1098510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merck & Co., Inc. (b) | 78165 | 6187541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mersana Therapeutics, Inc. (a) | 20800 | 6157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Metagenomi, Inc. (a) | 300 | 444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mirum Pharmaceuticals, Inc. (a) | 3400 | 173026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moderna, Inc. (a) | 92800 | 2560352 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monte Rosa Therapeutics, Inc. (a) | 300 | 1353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Myriad Genetics, Inc. (a) | 4500 | 23895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Natera, Inc. (a) | 1800 | 304092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neumora Therapeutics, Inc. (a) | 18400 | 13493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nkarta, Inc. (a) | 2400 | 3984 |
| &nbsp;&nbsp;&nbsp;&nbsp; NovaBay Pharmaceuticals, Inc. (a) | 31 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novavax, Inc. (a) | 3600 | 22680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nurix Therapeutics, Inc. (a) | 4600 | 52394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nuvation Bio, Inc. (a) | 7900 | 15405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Olema Pharmaceuticals, Inc. (a) | 4200 | 17892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omeros Corp. (a) | 6800 | 20400 |
| &nbsp;&nbsp;&nbsp;&nbsp; OmniAb, Inc. (a) | 600 | 1044 |
| &nbsp;&nbsp;&nbsp;&nbsp; OnKure Therapeutics, Inc., Class A (a) | 470 | 1123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Organon & Co. | 2500 | 24200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Perspective Therapeutics, Inc. (a) | 9610 | 33058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phio Pharmaceuticals Corp. (a) | 4 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pliant Therapeutics, Inc. (a) | 7500 | 8700 |
| &nbsp;&nbsp;&nbsp;&nbsp; PMV Pharmaceuticals, Inc. (a) | 5800 | 6148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prelude Therapeutics, Inc. (a) | 5700 | 4614 |
| &nbsp;&nbsp;&nbsp;&nbsp; PTC Therapeutics, Inc. (a) | 2300 | 112332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Puma Biotechnology, Inc. (a) | 4500 | 15435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanterix Corp. (a) | 2100 | 13965 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rallybio Corp. (a) | 1200 | 406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rapport Therapeutics, Inc. (a) | 100 | 1137 |
| &nbsp;&nbsp;&nbsp;&nbsp; RAPT Therapeutics, Inc. (a) | 812 | 6496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 19500 | 10237500 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; REGENXBIO, Inc. (a) | 2900 | $23809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Relay Therapeutics, Inc. (a) | 19700 | 68162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Relmada Therapeutics, Inc. (a) | 2400 | 1441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rigel Pharmaceuticals, Inc. (a) | 990 | 18543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rocket Pharmaceuticals, Inc. (a) | 19900 | 48755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sage Therapeutics, Inc. (a) | 3100 | 28272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sana Biotechnology, Inc. (a) | 300 | 819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sangamo Therapeutics, Inc. (a) | 25000 | 13533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc. (a) | 23500 | 401850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Savara, Inc. (a) | 3300 | 7524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seer, Inc. (a) | 7800 | 16692 |
| &nbsp;&nbsp;&nbsp;&nbsp; SELLAS Life Sciences Group, Inc. (a) | 33 | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shattuck Labs, Inc. (a) | 1700 | 1346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spyre Therapeutics, Inc. (a) | 4700 | 70359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Summit Therapeutics, Inc. (a),(b) | 3078 | 65500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sutro Biopharma, Inc. (a) | 5700 | 4069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Syndax Pharmaceuticals, Inc. (a) | 7100 | 66492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tectonic Therapeutic, Inc. (a) | 50 | 993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tempus AI, Inc. (a) | 200 | 12708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tenaya Therapeutics, Inc. (a) | 2300 | 1406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terns Pharmaceuticals, Inc. (a) | 5800 | 21634 |
| &nbsp;&nbsp;&nbsp;&nbsp; TG Therapeutics, Inc. (a) | 400 | 14396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Theriva Biologics, Inc. (a) | 31 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp; TransCode Therapeutics, Inc. (a) | 1 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp; Travere Therapeutics, Inc. (a) | 20800 | 307840 |
| &nbsp;&nbsp;&nbsp;&nbsp; TScan Therapeutics, Inc. (a) | 3000 | 4350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tvardi Therapeutics, Inc. (a) | 222 | 5179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Twist Bioscience Corp. (a) | 400 | 14716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyra Biosciences, Inc. (a) | 600 | 5742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ultragenyx Pharmaceutical, Inc. (a) | 13100 | 476316 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vanda Pharmaceuticals, Inc. (a) | 13200 | 62304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ventyx Biosciences, Inc. (a) | 8100 | 17334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verastem, Inc. (a) | 1208 | 5013 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verve Therapeutics, Inc. (a) | 8400 | 94332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viking Therapeutics, Inc. (a) | 13600 | 360400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vir Biotechnology, Inc. (a) | 2600 | 13104 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viridian Therapeutics, Inc. (a) | 2300 | 32154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vistagen Therapeutics, Inc. (a) | 247 | 494 |
| &nbsp;&nbsp;&nbsp;&nbsp; WaVe Life Sciences Ltd. (a) | 400 | 2600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Werewolf Therapeutics, Inc. (a) | 3200 | 3488 |
| &nbsp;&nbsp;&nbsp;&nbsp; West Pharmaceutical Services, Inc. | 5000 | 1094000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Whitehawk Therapeutics, Inc. (a) | 700 | 1309 |
| &nbsp;&nbsp;&nbsp;&nbsp; Windtree Therapeutics, Inc. (a) | 38 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xencor, Inc. (a) | 9800 | 77028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xenon Pharmaceuticals, Inc. (a) | 100 | 3130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xeris Biopharma Holdings, Inc. (a) | 16864 | 78755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Y-mAbs Therapeutics, Inc. (a) | 3900 | 17589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zentalis Pharmaceuticals, Inc. (a) | 17200 | 19952 |
|  |  | 42292763 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Agree Realty Corp. | 23600 | 1724216 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; CareTrust REIT, Inc. | 11500 | $351900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Community Healthcare Trust, Inc. | 1800 | 29934 |
| &nbsp;&nbsp;&nbsp;&nbsp; CTO Realty Growth, Inc. | 1500 | 25890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Healthcare Trust | 3000 | 10740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. (b) | 776 | 617285 |
| &nbsp;&nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | 400 | 12764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Four Corners Property Trust, Inc. | 4600 | 123786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Street Properties Corp. | 600 | 984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Getty Realty Corp. | 4400 | 121616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hudson Pacific Properties, Inc. | 3100 | 8494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lineage, Inc. | 53207 | 2315568 |
| &nbsp;&nbsp;&nbsp;&nbsp; LTC Properties, Inc. | 300 | 10383 |
| &nbsp;&nbsp;&nbsp;&nbsp; NETSTREIT Corp. | 8600 | 145598 |
| &nbsp;&nbsp;&nbsp;&nbsp; Office Properties Income Trust | 17000 | 4199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Piedmont Realty Trust, Inc., Class A | 4400 | 32076 |
| &nbsp;&nbsp;&nbsp;&nbsp; Postal Realty Trust, Inc., Class A | 2500 | 36825 |
| &nbsp;&nbsp;&nbsp;&nbsp; SBA Communications Corp. (b) | 1019 | 239302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust | 900 | 2151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Strawberry Fields REIT, Inc. | 200 | 2108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Health Realty Income Trust | 300 | 11991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veris Residential, Inc. | 2200 | 32758 |
|  |  | 5860568 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate Management & Development — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Avalon GloboCare Corp. (a) | 3 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp; Douglas Elliman, Inc. (a) | 900 | 2088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forestar Group, Inc. (a) | 1200 | 24000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Landbridge Co. LLC, Class A | 27003 | 1824863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Opendoor Technologies, Inc. (a) | 168900 | 90024 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redfin Corp. (a) | 11400 | 127566 |
| &nbsp;&nbsp;&nbsp;&nbsp; RMR Group, Inc. (The), Class A | 700 | 11445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seritage Growth Properties, Class A (a) | 800 | 2464 |
|  |  | 2082458 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retailing — 1.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1stdibs.com, Inc. (a) | 2200 | 6050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc. | 6800 | 316132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc. (a),(b) | 67350 | 14775916 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Eagle Outfitters, Inc. | 400 | 3848 |
| &nbsp;&nbsp;&nbsp;&nbsp; America's Car-Mart, Inc. (a) | 15295 | 857132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Beyond, Inc. (a) | 4000 | 27520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Big 5 Sporting Goods Corp. | 800 | 1136 |
| &nbsp;&nbsp;&nbsp;&nbsp; Burlington Stores, Inc. (a),(b) | 3149 | 732583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Camping World Holdings, Inc., Class A | 6100 | 104859 |
| &nbsp;&nbsp;&nbsp;&nbsp; CarMax, Inc. (a) | 800 | 53768 |
| &nbsp;&nbsp;&nbsp;&nbsp; CarParts.com, Inc. (a) | 5300 | 3923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carvana Co. (a) | 32400 | 10917504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cato Corp. (The), Class A | 1500 | 4215 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chewy, Inc., Class A (a) | 86705 | 3695367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citi Trends, Inc. (a) | 900 | 30051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Designer Brands, Inc., Class A | 9700 | 23086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc. (a) | 800 | 40128 |
| &nbsp;&nbsp;&nbsp;&nbsp; EVgo, Inc. (a) | 27800 | 101470 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Five Below, Inc. (a) | 8400 | $1101912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Groupon, Inc. (a) | 22 | 736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guess?, Inc. | 2000 | 24180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Haverty Furniture Cos., Inc. | 200 | 4070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. (b) | 2717 | 996161 |
| &nbsp;&nbsp;&nbsp;&nbsp; J Jill, Inc. | 800 | 11712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kohl's Corp. | 26600 | 225568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Leslie's, Inc. (a) | 12900 | 5417 |
| &nbsp;&nbsp;&nbsp;&nbsp; ODP Corp. (a) | 4000 | 72520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. | 200 | 34362 |
| &nbsp;&nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc. (a) | 41600 | 117728 |
| &nbsp;&nbsp;&nbsp;&nbsp; PetMed Express, Inc. (a) | 900 | 2988 |
| &nbsp;&nbsp;&nbsp;&nbsp; QVC Group, Inc. (a) | 1392 | 3828 |
| &nbsp;&nbsp;&nbsp;&nbsp; RealReal, Inc. (The) (a) | 27100 | 129809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rent the Runway, Inc., Class A (a) | 25 | 126 |
| &nbsp;&nbsp;&nbsp;&nbsp; RH (a) | 400 | 75604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores, Inc. (b) | 3807 | 485697 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sonic Automotive, Inc., Class A | 100 | 7993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sportsman's Warehouse Holdings, Inc. (a) | 6500 | 22425 |
| &nbsp;&nbsp;&nbsp;&nbsp; ThredUp, Inc., Class A (a) | 11300 | 84637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tilly's, Inc., Class A (a) | 400 | 552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warby Parker, Inc., Class A (a) | 800 | 17544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wayfair, Inc., Class A (a) | 24200 | 1237588 |
|  |  | 36357845 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Semiconductors & Semiconductor Equipment — 0.8%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. (a),(b) | 4576 | 649334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alpha & Omega Semiconductor Ltd. (a) | 600 | 15396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Astera Labs, Inc. (a) | 4300 | 388806 |
| &nbsp;&nbsp;&nbsp;&nbsp; AXT, Inc. (a) | 3200 | 6688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. (b) | 1920 | 529248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Credo Technology Group Holding Ltd. (a) | 26300 | 2435117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc. (a) | 31400 | 1245010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Everspin Technologies, Inc. (a) | 1600 | 10064 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc. (a),(b) | 2088 | 345648 |
| &nbsp;&nbsp;&nbsp;&nbsp; GSI Technology, Inc. (a) | 100 | 336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. | 300 | 6720 |
| &nbsp;&nbsp;&nbsp;&nbsp; inTEST Corp. (a) | 1100 | 8008 |
| &nbsp;&nbsp;&nbsp;&nbsp; KLA Corp. (b) | 129 | 115551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marvell Technology, Inc. (b) | 1800 | 139320 |
| &nbsp;&nbsp;&nbsp;&nbsp; MaxLinear, Inc. (a) | 14700 | 208887 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. (b) | 95386 | 15070034 |
| &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp. (a),(b) | 12845 | 673206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Onto Innovation, Inc. (a) | 6900 | 696417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Penguin Solutions, Inc. (a) | 3000 | 59430 |
| &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 22000 | 3503720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rambus, Inc. (a) | 700 | 44814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Semtech Corp. (a) | 9400 | 424316 |
| &nbsp;&nbsp;&nbsp;&nbsp; SiTime Corp. (a) | 3991 | 850402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc. | 16700 | 1244484 |
| &nbsp;&nbsp;&nbsp;&nbsp; SolarEdge Technologies, Inc. (a) | 14100 | 287640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synaptics, Inc. (a) | 1300 | 84266 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Veeco Instruments, Inc. (a) | 2530 | $51410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wolfspeed, Inc. (a) | 37300 | 14875 |
|  |  | 29109147 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — 5.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8x8, Inc. (a) | 14300 | 28028 |
| &nbsp;&nbsp;&nbsp;&nbsp; A10 Networks, Inc. | 5300 | 102555 |
| &nbsp;&nbsp;&nbsp;&nbsp; ACI Worldwide, Inc. (a) | 170995 | 7850380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc. (a) | 32700 | 12650976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alkami Technology, Inc. (a) | 9374 | 282532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amplitude, Inc., Class A (a) | 900 | 11160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asana, Inc., Class A (a) | 10900 | 147150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlassian Corp., Class A (a) | 27300 | 5544357 |
| &nbsp;&nbsp;&nbsp;&nbsp; AudioEye, Inc. (a) | 100 | 1165 |
| &nbsp;&nbsp;&nbsp;&nbsp; AvePoint, Inc. (a) | 4000 | 77240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Backblaze, Inc., Class A (a) | 2900 | 15950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bill Holdings, Inc. (a) | 16100 | 744786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Box, Inc., Class A (a) | 21400 | 731238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cipher Mining, Inc. (a) | 4900 | 23422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clear Secure, Inc., Class A | 300 | 8328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Clearwater Analytics Holdings, Inc., Class A (a) | 177222 | 3886478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cloudflare, Inc., Class A (a) | 6700 | 1312061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commvault Systems, Inc. (a) | 2000 | 348660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Scientific, Inc. (a) | 12700 | 216789 |
| &nbsp;&nbsp;&nbsp;&nbsp; CoreCard Corp. (a) | 200 | 5794 |
| &nbsp;&nbsp;&nbsp;&nbsp; CPI Card Group, Inc. (a) | 200 | 4744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crexendo, Inc. (a) | 200 | 1214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Turbine, Inc. (a) | 11400 | 67260 |
| &nbsp;&nbsp;&nbsp;&nbsp; eGain Corp. (a) | 1100 | 6875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elastic NV (a) | 25000 | 2108250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expensify, Inc., Class A (a) | 7600 | 19684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac Corp. (a),(b) | 441 | 806130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fastly, Inc., Class A (a) | 15800 | 111548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortinet, Inc. (a) | 26600 | 2812152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gartner, Inc. (a) | 5400 | 2182788 |
| &nbsp;&nbsp;&nbsp;&nbsp; GoDaddy, Inc., Class A (a) | 8400 | 1512504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hackett Group, Inc. (The) | 4300 | 109306 |
| &nbsp;&nbsp;&nbsp;&nbsp; HubSpot, Inc. (a) | 3377 | 1879740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Information Services Group, Inc. | 1900 | 9120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 300 | 236289 |
| &nbsp;&nbsp;&nbsp;&nbsp; JFrog Ltd. (a) | 1300 | 57044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kaltura, Inc. (a) | 100 | 201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Klaviyo, Inc., Class A (a) | 19500 | 654810 |
| &nbsp;&nbsp;&nbsp;&nbsp; LivePerson, Inc. (a) | 10300 | 10403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. (b) | 131618 | 65468109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monday.com Ltd. (a) | 2800 | 880544 |
| &nbsp;&nbsp;&nbsp;&nbsp; MongoDB, Inc. (a) | 2700 | 566973 |
| &nbsp;&nbsp;&nbsp;&nbsp; N-able, Inc. (a) | 1000 | 8100 |
| &nbsp;&nbsp;&nbsp;&nbsp; NCR Voyix Corp. (a) | 60516 | 709853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nutanix, Inc., Class A (a) | 11100 | 848484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oblong, Inc. (a) | 1 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; Okta, Inc. (a),(b) | 7541 | 753874 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Olo, Inc., Class A (a) | 6700 | $59630 |
| &nbsp;&nbsp;&nbsp;&nbsp; ON24, Inc. (a) | 2200 | 11946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Onestream, Inc. (a) | 226129 | 6399451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ooma, Inc. (a) | 1000 | 12900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pagaya Technologies Ltd., Class A (a) | 15100 | 321932 |
| &nbsp;&nbsp;&nbsp;&nbsp; PagerDuty, Inc. (a) | 4000 | 61120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A (a) | 96800 | 13195776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Porch Group, Inc. (a) | 2600 | 30654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Q2 Holdings, Inc. (a) | 56490 | 5286899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Qualys, Inc. (a) | 900 | 128583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rackspace Technology, Inc. (a) | 2100 | 2688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Red Violet, Inc. (a) | 100 | 4920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rimini Street, Inc. (a) | 1900 | 7163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rubrik, Inc., Class A (a) | 11500 | 1030285 |
| &nbsp;&nbsp;&nbsp;&nbsp; SailPoint, Inc. (a) | 133017 | 3040769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salesforce, Inc. | 48900 | 13334541 |
| &nbsp;&nbsp;&nbsp;&nbsp; SentinelOne, Inc., Class A (a) | 6900 | 126132 |
| &nbsp;&nbsp;&nbsp;&nbsp; ServiceTitan, Inc., Class A (a) | 71830 | 7698739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Snowflake, Inc., Class A (a) | 62500 | 13985625 |
| &nbsp;&nbsp;&nbsp;&nbsp; SoundThinking, Inc. (a) | 300 | 3917 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprout Social, Inc., Class A (a) | 400 | 8364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchronoss Technologies, Inc. (a) | 700 | 4795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Telos Corp. (a) | 300 | 951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tenable Holdings, Inc. (a) | 1200 | 40536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teradata Corp. (a) | 1400 | 31234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Terawulf, Inc. (a) | 5300 | 23214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unisys Corp. (a) | 7700 | 34881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unity Software, Inc. (a) | 800 | 19360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Upland Software, Inc. (a) | 5400 | 10530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Varonis Systems, Inc. (a) | 25000 | 1268750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weave Communications, Inc. (a) | 4800 | 39936 |
| &nbsp;&nbsp;&nbsp;&nbsp; WM Technology, Inc. (a) | 9700 | 8691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yext, Inc. (a) | 5600 | 47600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zeta Global Holdings Corp., Class A (a) | 13400 | 207566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zscaler, Inc. (a) | 19900 | 6247406 |
|  |  | 188552536 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Technology Hardware & Equipment — 1.7%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aeva Technologies, Inc. (a) | 5840 | 220694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 196104 | 19365270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. (b) | 68767 | 14108925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Optoelectronics, Inc. (a) | 1500 | 38535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arista Networks, Inc. (a) | 23000 | 2353130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aviat Networks, Inc. (a) | 100 | 2405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bel Fuse, Inc., Class B | 300 | 29307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cambium Networks Corp. (a) | 4865 | 1970 |
| &nbsp;&nbsp;&nbsp;&nbsp; CommScope Holding Co., Inc. (a) | 45900 | 380052 |
| &nbsp;&nbsp;&nbsp;&nbsp; CompoSecure, Inc., Class A (a) | 7400 | 104266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comtech Telecommunications Corp. (a) | 1800 | 4410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crane NXT Co. | 700 | 37730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Evolv Technologies Holdings, Inc. (a) | 17300 | 107952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Extreme Networks, Inc. (a) | 4400 | 78980 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; FARO Technologies, Inc. (a) | 100 | $4392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Frequency Electronics, Inc. (a) | 600 | 13626 |
| &nbsp;&nbsp;&nbsp;&nbsp; Identiv, Inc. (a) | 100 | 326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Juniper Networks, Inc. | 67300 | 2687289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimball Electronics, Inc. (a) | 700 | 13461 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lantronix, Inc. (a) | 5200 | 14924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Methode Electronics, Inc. | 3000 | 28530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 300 | 126138 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetScout Systems, Inc. (a) | 2700 | 66987 |
| &nbsp;&nbsp;&nbsp;&nbsp; PC Connection, Inc. | 100 | 6578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quantum Computing, Inc. (a) | 26 | 499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sandisk Corp. (a) | 133017 | 6032321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc. (a) | 34200 | 17521002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viasat, Inc. (a) | 7000 | 102200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vishay Precision Group, Inc. (a) | 500 | 14050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xerox Holdings Corp. | 10400 | 54808 |
|  |  | 63520757 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunication Services — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. (b) | 9914 | 286911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bandwidth, Inc., Class A (a) | 2300 | 36570 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDT Corp., Class B | 800 | 54656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. (a) | 100100 | 438438 |
| &nbsp;&nbsp;&nbsp;&nbsp; NII Holdings, Inc. (a),(c) | 50677 | 13176 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spok Holdings, Inc. | 900 | 15912 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile U.S., Inc. | 22800 | 5432328 |
|  |  | 6277991 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — 0.4%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alaska Air Group, Inc. (a) | 1200 | 59376 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group, Inc. (a) | 29200 | 327624 |
| &nbsp;&nbsp;&nbsp;&nbsp; ArcBest Corp. | 600 | 46206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avis Budget Group, Inc. (a) | 2100 | 355005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Kansas City Ltd. | 140000 | 11097800 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp. (b) | 1007 | 32858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Frontier Group Holdings, Inc. (a) | 2400 | 8712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genco Shipping & Trading Ltd. | 1300 | 16991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Heartland Express, Inc. | 7100 | 61344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hertz Global Holdings, Inc. (a) | 7300 | 49859 |
| &nbsp;&nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | 2900 | 416440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lyft, Inc., Class A (a) | 76077 | 1198974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marten Transport Ltd. | 1099 | 14276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corp. (b) | 128 | 32764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Radiant Logistics, Inc. (a) | 1500 | 9120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saia, Inc. (a) | 3900 | 1068561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schneider National, Inc., Class B | 1600 | 38640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seanergy Maritime Holdings Corp. | 2230 | 14071 |
| &nbsp;&nbsp;&nbsp;&nbsp; TFI International, Inc. | 200 | 17934 |
| &nbsp;&nbsp;&nbsp;&nbsp; U-Haul Holding Co. (a) | 800 | 48448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp. | 100 | 23008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Logistics Holdings, Inc. | 300 | 7614 |
|  |  | 14945625 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Utilities — 0.3%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | 39905 | $4140543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Artesian Resources Corp., Class A | 400 | 13424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edison International | 17200 | 887520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Electric Industries, Inc. (a) | 500 | 5315 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDACORP, Inc. | 20353 | 2349754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oklo, Inc. (a) | 53207 | 2979060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp. | 3500 | 313145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Talen Energy Corp. (a) | 700 | 203539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unitil Corp. | 200 | 10430 |
| &nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure LP | 2900 | 23780 |
| &nbsp;&nbsp;&nbsp;&nbsp; York Water Co. (The) | 500 | 15800 |
|  |  | 10942310 |
|  **Total North America** |  | **1097766455** |
|  **Oceania — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Energy — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Imperial Petroleum, Inc. (a) | 40 | 123 |
|  **Total Oceania** |  | **123** |
|  **South America — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Banks — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Bradesco SA, ADR | 418100 | 1291929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Grupo Financiero Galicia SA, ADR | 53207 | 2681101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inter & Co., Inc., Class A | 700 | 5201 |
|  |  | 3978231 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Afya Ltd., Class A | 1800 | 32148 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dlocal Ltd. (a) | 5000 | 56700 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Energy — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Gran Tierra Energy, Inc. (a) | 2090 | 9969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ultrapar Participacoes SA, ADR | 1500 | 4920 |
|  |  | 14889 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food, Beverage & Tobacco — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ambev SA, ADR | 33200 | 80012 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aris Mining Corp. (a) | 2100 | 14112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gerdau SA, ADR | 3480 | 10161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nexa Resources SA (a) | 500 | 2480 |
|  |  | 26753 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; VTEX, Class A (a) | 700 | 4620 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Latam Airlines Group SA, ADR | 600 | 24384 |
|  **Total South America** |  | **4217737** |
|  **TOTAL COMMON STOCK<br>(COST $1,019,816,346)** |  | **1152151087** |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
|  **PREFERRED STOCK — 0.0%** |  |  |
|  **North America — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Health Care Equipment & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ATI Physical Therapy, Inc. (a),(b),(c) | 3039 | $2013337 |
|  **Total North America** |  | **2013337** |
|  **TOTAL PREFERRED STOCK<br>(COST $3,008,610)** |  | **2013337** |
|  | **Principal<br>Amount** |  |
|  **ASSET-BACKED SECURITIES — 6.4%** |  |  |
|  **Europe — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Loan Funding IV Ltd., Series 2023-ALF4A, Class D, 3 mo. TSFR + 4.68%,<br>8.94%, 10/15/36 (b),(d),(e) | $1000000 | 1003255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares LXVI CLO Ltd., Series 2022-66A, Class ER, 3 mo. TSFR + 7.00%,<br>11.28%, 07/25/36 (b),(d),(e) | 2000000 | 1996302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class D1, 3 mo. TSFR + 3.70%, 7.96%, 07/15/37 (b),(d),(e) | 1000000 | 1004061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A, Class E, 3 mo. TSFR + 8.48%, 12.75%, 07/18/36 (b),(d),(e) | 1000000 | 996927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Birch Grove CLO 7 Ltd., Series 2023-7A, Class E, 3 mo. TSFR + 8.64%,<br>12.91%, 10/20/36 (b),(d),(e) | 3100000 | 3113535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canyon Capital CLO Ltd., Series 2022-2A, Class D2R, 3 mo. TSFR + 4.00%,<br>8.26%, 04/15/38 (b),(d),(e) | 2000000 | 2003130 |
| &nbsp;&nbsp;&nbsp;&nbsp; CarVal CLO IX-C Ltd., Series 2024-1A, Class E, 3 mo. TSFR + 6.75%,<br>11.02%, 04/20/37 (b),(d),(e) | 1000000 | 1003227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dryden 107 CLO Ltd., Series 2023-107A, Class E, 3 mo. TSFR + 7.73%,<br>12.06%, 08/15/35 (b),(d),(e) | 500000 | 499431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Katayma CLO I Ltd., Series 2023-1A, Class D, 3 mo. TSFR + 5.25%, 9.52%, 10/20/36 (b),(d),(e) | 3580000 | 3608028 |
| &nbsp;&nbsp;&nbsp;&nbsp; KKR CLO 43 Ltd., Series 2022-43A, Class ER, 3 mo. TSFR + 7.97%,<br>12.23%, 01/15/36 (b),(d),(e) | 2000000 | 1999124 |
| &nbsp;&nbsp;&nbsp;&nbsp; MidOcean Credit CLO XV Ltd., Series 2024-15A, Class D, 3 mo. TSFR + 3.35%,<br>7.62%, 07/21/37 (b),(d),(e) | 2000000 | 1989944 |
| &nbsp;&nbsp;&nbsp;&nbsp; OCP CLO Ltd., Series 2023-28A, Class E, 3 mo. TSFR + 8.40%, 12.66%, 07/16/36 (b),(d),(e) | 1000000 | 996250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pikes Peak CLO 17 Ltd., Series 2024-17A, Class E, 3 mo. TSFR + 5.75%,<br>10.01%, 01/15/38 (b),(d),(e) | 1500000 | 1503567 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pikes Peak CLO Ltd., Series 2023-14A, Class ER, 3 mo. TSFR + 6.00%,<br>10.32%, 07/20/38 (b),(d),(e) | 1000000 | 996221 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vibrant CLO XVI Ltd., Series 2023-16A, Class DR, 3 mo. TSFR + 7.06%,<br>11.39%, 07/15/36 (b),(d),(e) | 1000000 | 999417 |
|  **Total Europe** |  | **23712419** |
|  **North America — 5.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ACE Securities Corp. Home Equity Loan Trust, Series 2006-ASP6, Class A2C, 1 mo. TSFR + .43%, 4.75%, 12/25/36 (b),(e) | 2270500 | 705939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital CLO 26 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-26A, Class D2R, 3 mo. TSFR + 4.75%, 9.04%, 03/19/38 (b),(d),(e) | 500000 | 499033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-26A, Class ER, 3 mo. TSFR + 6.25%, 10.54%, 03/19/38 (b),(d),(e) | 500000 | 498001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital CLO 29 Ltd., Series 2024-29A, Class E, 3 mo. TSFR + 6.84%,<br>11.11%, 07/20/37 (b),(d),(e) | 1250000 | 1250587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apidos CLO LIII Ltd., Series 2025-53A, Class E, 3 mo. TSFR + 6.43%,<br>10.76%, 07/20/38 (b),(d),(e) | 1125000 | 1133083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apidos CLO XXV Ltd., Series 2016-25A, Class E1R3, 3 mo. TSFR + 5.35%,<br>9.62%, 01/20/37 (b),(d),(e) | 1000000 | 998827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares LI CLO Ltd., Series 2019-51A, Class ER2, 3 mo. TSFR + 6.25%,<br>10.51%, 10/15/37 (b),(d),(e) | 3000000 | 2992092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares LIV CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-54A, Class ER2, 3 mo. TSFR + 6.00%, 0.00%, 07/15/38 (b),(d),(e),(f) | 1000000 | 1000000 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-54A, Class E, 3 mo. TSFR + 7.60%, 11.86%, 10/15/32 (b),(d),(e) | $250000 | $249063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Loan Funding II Ltd., Series 2022-ALF2A, Class ER, 3 mo. TSFR + 8.24%,<br>12.51%, 10/20/36 (b),(d),(e) | 1150000 | 1151159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Loan Funding VIII Ltd., Series 2024-ALF8, Class E, 3 mo. TSFR + 5.25%,<br>9.54%, 01/24/38 (b),(d),(e) | 1000000 | 1002372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares LVI CLO Ltd., Series 2020-56A, Class ER2, 3 mo. TSFR + 5.35%, 9.63%, 01/25/38 (b),(d),(e) | 2000000 | 2004982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares LXI CLO Ltd., Series 2021-61A, Class DR, 3 mo. TSFR + 3.90%, 8.17%, 04/20/37 (b),(d),(e) | 1000000 | 1007143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlantic Avenue Ltd., Series 2024-2A, Class D, 3 mo. TSFR + 4.75%, 9.02%, 04/20/37 (b),(d),(e) | 2500000 | 2516215 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4A, Class D1AR, 3 mo. TSFR + 4.75%, 9.02%, 10/20/36 (b),(d),(e) | 1000000 | 1002407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4A, Class ER, 3 mo. TSFR + 7.98%, 12.25%, 10/20/36 (b),(d),(e) | 1000000 | 1002543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Balboa Bay Loan Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class E, 3 mo. TSFR + 6.25%, 10.52%, 07/20/37 (b),(d),(e) | 1000000 | 1007452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class E, 3 mo. TSFR + 6.42%, 10.69%, 07/20/34 (b),(d),(e) | 1000000 | 980521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A, Class E, 3 mo. TSFR + 7.25%, 11.52%, 10/20/36 (b),(d),(e) | 1100000 | 1099861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ballyrock CLO Ltd., Series 2022-19A, Class C, 3 mo. TSFR + 3.50%, 7.77%, 04/20/35 (b),(d),(e) | 1350000 | 1351035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barings CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A, Class D, 3 mo. TSFR + 4.50%, 8.76%, 10/15/36 (b),(d),(e) | 1500000 | 1501479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3A, Class ERR, 3 mo. TSFR + 5.85%, 10.12%, 01/20/36 (b),(d),(e) | 1000000 | 988301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class E, 3 mo. TSFR + 6.51%, 10.77%, 07/15/34 (b),(d),(e) | 1000000 | 993468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A, Class E, 3 mo. TSFR + 7.33%, 11.59%, 10/15/36 (b),(d),(e) | 1000000 | 997769 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBAM U.S. CLO II Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A, Class C2, 3 mo. TSFR + 7.00%, 11.26%, 10/15/38 (b),(d),(e) | 2000000 | 2016500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A, Class D, 3 mo. TSFR + 8.15%, 12.41%, 10/15/38 (b),(d),(e) | 4300000 | 4311429 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBAM U.S. CLO III Ltd., Series 2023-3A, Class C2, 3 mo. TSFR + 7.35%,<br>11.61%, 10/15/38 (b),(d),(e) | 4600000 | 4627531 |
| &nbsp;&nbsp;&nbsp;&nbsp; BCAPB LLC Trust, Series 2007-AB1, Class A1, 1 mo. TSFR + .41%, 4.62%, 03/25/37 (b),(e) | 646004 | 226568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benefit Street Partners CLO X Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-10A, Class CRR, 3 mo. TSFR + 3.76%, 8.03%, 04/20/34 (b),(d),(e) | 2000000 | 1997476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-10A, Class DRR, 3 mo. TSFR + 7.01%, 11.28%, 04/20/34 (b),(d),(e) | 1000000 | 996134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XL Ltd., Series 2025-40A, Class E, 3 mo. TSFR + 5.25%, 0.00%, 07/25/38 (b),(d),(e),(f) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XX Ltd., Series 2020-20A, Class ER, 3 mo. TSFR + 7.01%,<br>11.27%, 07/15/34 (b),(d),(e) | 1000000 | 996179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXI Ltd., Series 2020-21A, Class ER, 3 mo. TSFR + 6.96%,<br>11.22%, 10/15/34 (b),(d),(e) | 1000000 | 996156 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXII Ltd., Series 2020-22A, Class ER, 3 mo. TSFR + 6.93%,<br>11.20%, 04/20/35 (b),(d),(e) | 1000000 | 999955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXIII Ltd., Series 2021-23A, Class D, 3 mo. TSFR + 3.91%,<br>8.19%, 04/25/34 (b),(d),(e) | 1800000 | 1807090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXVI Ltd., Series 2022-26A, Class ER, 3 mo. TSFR + 6.00%, 10.27%, 07/20/37 (b),(d),(e) | 1000000 | 1002167 |
| &nbsp;&nbsp;&nbsp;&nbsp; BHG Securitization Trust, Series 2022-A, Class C, 3.08%, 02/20/35 (b),(d) | 312000 | 301991 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlueMountain CLO XXIX Ltd., Series 2020-29A, Class ER, 3 mo. TSFR + 7.12%,<br>11.40%, 07/25/34 (b),(d),(e) | 1000000 | 975421 |
| &nbsp;&nbsp;&nbsp;&nbsp; BlueMountain CLO XXVIII Ltd., Series 2021-28A, Class E, 3 mo. TSFR + 6.66%,<br>10.92%, 04/15/34 (b),(d),(e) | 250000 | 249043 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broad River BSL Funding CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A, Class DR, 3 mo. TSFR + 3.36%, 7.63%, 07/20/34 (b),(d),(e) | 1400000 | 1399622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A, Class ER, 3 mo. TSFR + 6.76%, 11.03%, 07/20/34 (b),(d),(e) | 2000000 | 1992264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bryant Park Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-23A, Class D1, 3 mo. TSFR + 3.85%, 8.18%, 05/15/37 (b),(d),(e) | 1250000 | 1256721 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-23A, Class D2, 3 mo. TSFR + 5.05%, 9.38%, 05/15/37 (b),(d),(e) | $2000000 | $1998406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-20A, Class ER, 3 mo. TSFR + 6.75%, 11.08%, 04/15/38 (b),(d),(e) | 1000000 | 1023249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-22A, Class E, 3 mo. TSFR + 7.13%, 11.39%, 04/15/37 (b),(d),(e) | 1250000 | 1248717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canyon CLO Ltd., Series 2021-3A, Class D, 3 mo. TSFR + 3.31%, 7.57%, 07/15/34 (b),(d),(e) | 1000000 | 999260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlyle U.S. CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1A, Class CR, 3 mo. TSFR + 3.61%, 7.88%, 04/20/31 (b),(d),(e) | 1500000 | 1504261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-8A, Class E, 3 mo. TSFR + 5.50%, 9.82%, 01/25/37 (b),(d),(e) | 1350000 | 1352971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class E, 3 mo. TSFR + 5.70%, 10.01%, 04/25/38 (b),(d),(e) | 1000000 | 998744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-10A, Class ER, 3 mo. TSFR + 6.75%, 11.02%, 01/20/38 (b),(d),(e) | 1000000 | 1011250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-9A, Class E, 3 mo. TSFR + 6.89%, 11.16%, 10/20/34 (b),(d),(e) | 1000000 | 995722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5A, Class E, 3 mo. TSFR + 7.90%, 12.18%, 01/27/36 (b),(d),(e) | 1500000 | 1512043 |
| &nbsp;&nbsp;&nbsp;&nbsp; CarVal CLO IV Ltd., Series 2021-1A, Class E, 3 mo. TSFR + 6.86%,<br>11.13%, 07/20/34 (b),(d),(e) | 1000000 | 993221 |
| &nbsp;&nbsp;&nbsp;&nbsp; CBAMR Ltd., Series 2019-9A, Class ER, 3 mo. TSFR + 7.05%, 11.31%, 07/15/37 (b),(d),(e) | 1000000 | 998986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cedar Funding VI CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-6A, Class DRR, 3 mo. TSFR + 3.57%, 7.84%, 04/20/34 (b),(d),(e) | 1000000 | 1003512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-6A, Class ERR, 3 mo. TSFR + 6.98%, 11.25%, 04/20/34 (b),(d),(e) | 1250000 | 1245205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cedar Funding XVII CLO Ltd., Series 2023-17A, Class E, 3 mo. TSFR + 8.16%,<br>12.43%, 07/20/36 (b),(d),(e) | 1000000 | 997478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centex Home Equity Loan Trust, Series 2004-D, Class BF, 6.40%, 09/25/34 (b),(g) | 343182 | 304571 |
| &nbsp;&nbsp;&nbsp;&nbsp; CFG Investments Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class B, 9.16%, 03/25/36 (b),(d) | 251000 | 252903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class C, 12.72%, 03/25/36 (b),(d) | 400000 | 399942 |
| &nbsp;&nbsp;&nbsp;&nbsp; CIFC Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-6A, Class D, 3 mo. TSFR + 3.36%, 7.62%, 10/15/34 (b),(d),(e) | 1000000 | 999802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5A, Class ER, 3 mo. TSFR + 5.10%, 9.36%, 01/15/38 (b),(d),(e) | 1000000 | 974190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class E, 3 mo. TSFR + 6.46%, 10.72%, 04/15/34 (b),(d),(e) | 1000000 | 996187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A, Class ER, 3 mo. TSFR + 6.85%, 11.13%, 04/17/34 (b),(d),(e) | 1000000 | 996143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Portfolio Services Auto Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class E, 7.65%, 08/16/32 (b),(d) | 1671000 | 1715990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class E, 7.95%, 03/15/33 (b),(d) | 1080000 | 1118821 |
| &nbsp;&nbsp;&nbsp;&nbsp; CoreVest American Finance Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3, Class XA, 2.16%, 10/15/52 (b),(d),(e),(h) | 1533940 | 6660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4, Class XB, 2.91%, 12/15/52 (b),(d),(e),(h) | 1000000 | 52023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1, Class XA, 2.99%, 04/15/53 (b),(d),(e),(h) | 484480 | 9229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class XA, 3.03%, 07/15/54 (b),(d),(e),(h) | 532908 | 15212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4, Class XA, 3.96%, 12/15/52 (b),(d),(e),(h) | 344004 | 2974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class E, 4.74%, 03/15/50 (b),(d),(e) | 125000 | 115989 |
| &nbsp;&nbsp;&nbsp;&nbsp; CPS Auto Receivables Trust, Series 2024-D, Class E, 7.13%, 06/15/32 (b),(d) | 1000000 | 1012961 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crockett Partners Equipment Co. IIA LLC, Series 2024-1C, Class C, 10.16%, 01/20/31 (b),(d) | 213333 | 217963 |
| &nbsp;&nbsp;&nbsp;&nbsp; CTM CLO Ltd., Series 2025-1A, Class E, 3 mo. TSFR + 6.75%, 0.00%, 07/15/38 (b),(d),(e),(f) | 2000000 | 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; CWABS Asset-Backed Certificates Trust, Series 2005-10, Class MF2, 4.14%, 02/25/36 (b),(e) | 268236 | 271378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividend Solar Loans LLC, Series 2018-1, Class B, 4.29%, 07/20/38 (b),(d) | 1604810 | 1489540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dryden 95 CLO Ltd., Series 2021-95A, Class E, 3 mo. TSFR + 6.41%,<br>10.73%, 08/20/34 (b),(d),(e) | 1000000 | 972223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eaton Vance CLO Ltd., Series 2013-1A, Class C3R, 3 mo. TSFR + 3.66%,<br>7.92%, 01/15/34 (b),(d),(e) | 2500000 | 2498057 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elmwood CLO 21 Ltd., Series 2022-8A, Class DR, 3 mo. TSFR + 4.00%,<br>8.27%, 10/20/36 (b),(d),(e) | 1000000 | 1001514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elmwood CLO 26 Ltd., Series 2024-1A, Class E, 3 mo. TSFR + 6.45%,<br>10.72%, 04/18/37 (b),(d),(e) | 1605200 | 1606470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elmwood CLO 42 Ltd., Series 2025-5A, Class E, 3 mo. TSFR + 6.50%,<br>10.78%, 03/31/38 (b),(d),(e) | 2000000 | 2076000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5A, Class E, 7.22%, 05/17/32 (b),(d) | 1414000 | 1423781 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class E, 7.48%, 09/15/32 (b),(d) | $1558000 | $1599924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A, Class E, 7.65%, 02/17/32 (b),(d) | 1480000 | 1522516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class E, 7.89%, 08/15/31 (b),(d) | 1426000 | 1494131 |
| &nbsp;&nbsp;&nbsp;&nbsp; FIGRE Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HE4, Class F, 8.48%, 09/25/54 (b),(d),(e) | 251000 | 254487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HE1, Class F, 8.53%, 01/25/55 (b),(d),(e) | 364000 | 371760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HE5, Class F, 8.63%, 10/25/54 (b),(d),(e) | 251000 | 254580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HE2, Class F, 8.73%, 04/25/49 (b),(d),(e) | 506000 | 505198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Flatiron CLO 21 Ltd., Series 2021-1A, Class ER, 3 mo. TSFR + 5.90%,<br>10.17%, 10/19/37 (b),(d),(e) | 2500000 | 2505715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fort Washington CLO Ltd., Series 2021-2A, Class E, 3 mo. TSFR + 6.87%,<br>11.14%, 10/20/34 (b),(d),(e) | 1500000 | 1473423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Galaxy 30 CLO Ltd., Series 2022-30A, Class ER, 3 mo. TSFR + 5.90%,<br>10.16%, 01/15/38 (b),(d),(e) | 1000000 | 1002403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Galaxy 31 CLO Ltd., Series 2023-31A, Class ER, 3 mo. TSFR + 5.50%,<br>9.81%, 07/15/38 (b),(d),(e) | 1000000 | 995902 |
| &nbsp;&nbsp;&nbsp;&nbsp; Galaxy 32 CLO Ltd., Series 2023-32A, Class D, 3 mo. TSFR + 4.30%,<br>8.57%, 10/20/36 (b),(d),(e) | 1000000 | 1001994 |
| &nbsp;&nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class E, 7.19%, 03/15/32 (b),(d) | 1045000 | 1067495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class E, 7.25%, 06/16/31 (b),(d) | 813000 | 820763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A, Class E, 7.51%, 08/15/31 (b),(d) | 1666000 | 1720818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class E, 7.73%, 06/15/32 (b),(d) | 1410000 | 1459264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goodleap Sustainable Home Solutions Trust, Series 2023-3C, Class B, 7.80%, 07/20/55 (b),(d) | 361000 | 281770 |
| &nbsp;&nbsp;&nbsp;&nbsp; GreenSky Home Improvement Trust, Series 2024-1, Class E, 9.00%, 06/25/59 (b),(d) | 829000 | 855572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Greywolf CLO II Ltd., Series 2013-1A, Class C1RR, 3 mo. TSFR + 3.61%,<br>7.87%, 04/15/34 (b),(d),(e) | 1000000 | 998274 |
| &nbsp;&nbsp;&nbsp;&nbsp; GSAA Home Equity Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-5, Class M2, 4.32%, 06/25/34 (b),(g) | 293801 | 242241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8, Class 2A3B, 1 mo. TSFR + .67%, 4.99%, 05/25/36 (b),(e) | 1527000 | 304243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-6, Class AF3, 5.73%, 03/25/36 (b),(e) | 775492 | 218822 |
| &nbsp;&nbsp;&nbsp;&nbsp; GSAA Trust, Series 2005-7, Class M1, 5.36%, 05/25/35 (b),(g) | 323685 | 253989 |
| &nbsp;&nbsp;&nbsp;&nbsp; HalseyPoint CLO 4 Ltd., Series 2021-4A, Class E, 3 mo. TSFR + 6.97%,<br>11.24%, 04/20/34 (b),(d),(e) | 1500000 | 1494229 |
| &nbsp;&nbsp;&nbsp;&nbsp; HalseyPoint CLO 5 Ltd., Series 2021-5A, Class E, 3 mo. TSFR + 7.20%,<br>11.48%, 01/30/35 (b),(d),(e) | 1000000 | 994963 |
| &nbsp;&nbsp;&nbsp;&nbsp; HalseyPoint CLO II Ltd., Series 2020-2A, Class ER, 3 mo. TSFR + 7.50%,<br>11.77%, 07/20/37 (b),(d),(e) | 1500000 | 1502704 |
| &nbsp;&nbsp;&nbsp;&nbsp; HPS Loan Management Ltd., Series 2021-16A, Class E, 3 mo. TSFR + 6.76%,<br>11.04%, 01/23/35 (b),(d),(e) | 1000000 | 991854 |
| &nbsp;&nbsp;&nbsp;&nbsp; KKR CLO 49 Ltd., Series 49A, Class ER, 3 mo. TSFR + 6.82%, 11.09%, 10/20/37 (b),(d),(e) | 2000000 | 1976948 |
| &nbsp;&nbsp;&nbsp;&nbsp; KKR CLO 60 Ltd., Series 2024-60A, Class E, 3 mo. TSFR + 6.10%,<br>10.36%, 01/15/38 (b),(d),(e) | 1000000 | 1001916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-H1, Class 2A2, 1 mo. TSFR + 3.61%, 7.93%, 10/25/37 (b),(e) | 707971 | 511074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-RM5, Class A2B, 1 mo. TSFR + .35%, 4.67%, 10/25/37 (b),(e) | 1465614 | 212193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-RM5, Class A2C, 1 mo. TSFR + .47%, 4.79%, 10/25/37 (b),(e) | 2134918 | 311786 |
| &nbsp;&nbsp;&nbsp;&nbsp; MidOcean Credit CLO XI Ltd., Series 2022-11A, Class ER2, 3 mo. TSFR + 6.00%,<br>10.27%, 01/15/36 (b),(d),(e) | 1000000 | 998781 |
| &nbsp;&nbsp;&nbsp;&nbsp; MidOcean Credit CLO XIII Ltd., Series 2023-13A, Class D, 3 mo. TSFR + 5.09%,<br>9.36%, 01/21/37 (b),(d),(e) | 1000000 | 1008299 |
| &nbsp;&nbsp;&nbsp;&nbsp; MidOcean Credit CLO XIX, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-19A, Class D2, 3 mo. TSFR + 3.90%, 8.22%, 07/20/36 (b),(d),(e) | 2000000 | 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-19A, Class E, 3 mo. TSFR + 6.25%, 10.57%, 07/20/36 (b),(d),(e) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; MidOcean Credit CLO XVIII LLC, Series 2025-18A, Class E, 3 mo. TSFR + 5.40%,<br>0.00%, 10/18/35 (b),(d),(e),(f) | 1000000 | 1000000 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust, Series 2006-17XS, Class A3A,<br>6.15%, 10/25/46 (b),(g) | $829212 | $213402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 30 Ltd., Series 2018-30A, Class ER2, 3 mo. TSFR + 5.15%, 9.42%, 01/20/39 (b),(d),(e) | 1000000 | 999353 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Mountain CLO 2 Ltd., Series CLO-2A, Class ER, 3 mo. TSFR + 5.70%,<br>9.96%, 01/15/38 (b),(d),(e) | 1500000 | 1503630 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Mountain CLO 4 Ltd., Series CLO-4A, Class ER, 3 mo. TSFR + 6.91%,<br>11.19%, 03/20/38 (b),(d),(e) | 2000000 | 2045980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oaktree CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-32A, Class E, 3 mo. TSFR + 5.35%, 0.00%, 07/15/38 (b),(d),(e),(f) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A, Class ER2, 3 mo. TSFR + 6.40%, 10.66%, 10/15/37 (b),(d),(e) | 1000000 | 1002216 |
| &nbsp;&nbsp;&nbsp;&nbsp; OCP CLO Ltd., Series 2017-13A, Class ER2, 3 mo. TSFR + 5.90%,<br>10.17%, 11/26/37 (b),(d),(e) | 1500000 | 1498848 |
| &nbsp;&nbsp;&nbsp;&nbsp; Octane Receivables Trust, Series 2024-3A, Class E, 7.66%, 11/22/32 (b),(d) | 475000 | 478427 |
| &nbsp;&nbsp;&nbsp;&nbsp; OHA Credit Funding 10 Ltd., Series 2021-10A, Class E, 3 mo. TSFR + 6.51%,<br>10.78%, 01/18/36 (b),(d),(e) | 1000000 | 999095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oportun Funding Trust, Series 2025-1, Class D, 8.27%, 08/16/32 (b),(d) | 661000 | 663464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pagaya AI Debt Trust, Series 2022-2, Class C, 7.50%, 01/15/30 (b),(d) | 4087651 | 4108674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class D1, 3 mo. TSFR + 3.10%, 7.42%, 07/20/38 (b),(d),(e) | 1000000 | 1001396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2A, Class CR, 3 mo. TSFR + 3.90%, 8.16%, 04/16/37 (b),(d),(e) | 1000000 | 1001826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class E, 3 mo. TSFR + 5.75%, 10.07%, 07/20/38 (b),(d),(e) | 2250000 | 2240577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., Series 2022-3A, Class CR, 3 mo. TSFR + 3.00%,<br>7.26%, 04/15/31 (b),(d),(e) | 1500000 | 1504572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Park Avenue Institutional Advisers CLO Ltd., Series 2022-1A, Class D, 3 mo. TSFR + 7.29%, 11.56%, 04/20/35 (b),(d),(e) | 1000000 | 998031 |
| &nbsp;&nbsp;&nbsp;&nbsp; People's Choice Home Loan Securities Trust, Series 2005-2, Class M5, 1 mo. TSFR + 1.09%, 5.41%, 05/25/35 (b),(e) | 488000 | 317085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pikes Peak CLO 10, Series 2022-10A, Class ER, 3 mo. TSFR + 5.90%,<br>10.17%, 01/22/38 (b),(d),(e) | 1000000 | 999253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pikes Peak CLO 8, Series 2021-8A, Class ER, 3 mo. TSFR + 5.75%,<br>10.02%, 01/20/38 (b),(d),(e) | 1000000 | 1002430 |
| &nbsp;&nbsp;&nbsp;&nbsp; Polus U.S. CLO II Ltd., Series 2024-1A, Class E, 3 mo. TSFR + 7.34%,<br>11.61%, 10/20/37 (b),(d),(e) | 1000000 | 1010126 |
| &nbsp;&nbsp;&nbsp;&nbsp; PPM CLO 3 Ltd., Series 2019-3A, Class ER, 3 mo. TSFR + 6.87%,<br>11.15%, 04/17/34 (b),(d),(e) | 500000 | 435091 |
| &nbsp;&nbsp;&nbsp;&nbsp; RAD CLO 28 Ltd., Series 2024-28A, Class E, 3 mo. TSFR + 5.25%,<br>9.51%, 04/20/38 (b),(d),(e) | 1000000 | 972686 |
| &nbsp;&nbsp;&nbsp;&nbsp; RAD CLO 9 Ltd., Series 2020-9A, Class ER, 3 mo. TSFR + 5.75%,<br>10.01%, 01/15/38 (b),(d),(e) | 1000000 | 980676 |
| &nbsp;&nbsp;&nbsp;&nbsp; RASC Trust, Series 2006-KS1, Class M4, 1 mo. TSFR + .64%, 5.23%, 02/25/36 (b),(e) | 337000 | 269162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Romark CLO II Ltd., Series 2018-2A, Class D, 3 mo. TSFR + 6.51%,<br>10.79%, 07/25/31 (b),(d),(e) | 2250000 | 2164997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Romark CLO IV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A, Class C1, 3 mo. TSFR + 3.46%, 7.67%, 07/10/34 (b),(d),(e) | 1000000 | 1003755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A, Class D, 3 mo. TSFR + 7.21%, 11.42%, 07/10/34 (b),(d),(e) | 500000 | 483703 |
| &nbsp;&nbsp;&nbsp;&nbsp; RR 19 Ltd., Series 2021-19A, Class DR, 3 mo. TSFR + 4.70%, 9.06%, 04/15/40 (b),(d),(e) | 1000000 | 989593 |
| &nbsp;&nbsp;&nbsp;&nbsp; RR 32 Ltd., Series 2024-32RA, Class DR, 3 mo. TSFR + 6.10%, 10.36%, 10/15/39 (b),(d),(e) | 1000000 | 1011598 |
| &nbsp;&nbsp;&nbsp;&nbsp; RR 34 Ltd., Series 2024-34RA, Class DR, 3 mo. TSFR + 5.50%, 9.76%, 10/15/39 (b),(d),(e) | 2000000 | 1998556 |
| &nbsp;&nbsp;&nbsp;&nbsp; RR15 Ltd., Series 2021-15A, Class C, 3 mo. TSFR + 3.16%, 7.42%, 04/15/36 (b),(d),(e) | 1000000 | 998763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust, Series 2023-FIG4, Class C,<br>8.01%, 11/25/53 (b),(d),(e) | 820949 | 852733 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saxon Asset Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class MF3, 2.12%, 08/25/35 (b),(g) | 333674 | 268009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2, Class MF4, 2.12%, 08/25/35 (b),(g) | 363971 | 269490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sculptor CLO XXIX Ltd., Series 29A, Class D1, 3 mo. TSFR + 3.46%,<br>7.73%, 10/22/34 (b),(d),(e) | 2000000 | 2002516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Signal Peak CLO 5 Ltd., Series 2018-5A, Class D1R, 3 mo. TSFR + 4.20%,<br>8.48%, 04/25/37 (b),(d),(e) | 1000000 | 1006701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Silver Point CLO 5 Ltd., Series 2024-5A, Class D2, 3 mo. TSFR + 4.35%,<br>8.62%, 10/20/37 (b),(d),(e) | 1095000 | 1094901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sound Point CLO XXIII Ltd., Series 2019-2A, Class ER, 3 mo. TSFR + 6.73%,<br>10.99%, 07/15/34 (b),(d),(e) | 2400000 | 2127019 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; STAR Trust, Series 2022-SFR3, Class E2, 1 mo. TSFR + 3.70%, 8.01%, 05/17/39 (b),(d),(e) | $1000000 | $994355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunnova Helios XIII Issuer LLC, Series 2024-A, Class C, 7.00%, 02/20/51 (b),(d) | 689415 | 596335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunnova Helios XIV Issuer LLC, Series 2024-B, Class B, 7.00%, 05/22/51 (b),(d) | 1126133 | 1016703 |
| &nbsp;&nbsp;&nbsp;&nbsp; Symphony CLO 40 Ltd., Series 2023-40A, Class D2R, 3 mo. TSFR + 4.00%,<br>8.24%, 01/05/38 (b),(d),(e) | 1300000 | 1303107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Symphony CLO 43 Ltd., Series 2024-43X, Class E, 3 mo. TSFR + 6.75%,<br>11.01%, 04/15/37 (b),(e),(i) | 1000000 | 1002505 |
| &nbsp;&nbsp;&nbsp;&nbsp; Symphony CLO 46 Ltd., Series 2024-46A, Class E, 3 mo. TSFR + 5.65%,<br>9.92%, 01/20/38 (b),(d),(e) | 2000000 | 2004860 |
| &nbsp;&nbsp;&nbsp;&nbsp; TIC Home Improvement Trust, Series 2024-A, Class B, 7.89%, 10/15/46 (b),(d) | 252000 | 246330 |
| &nbsp;&nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust, Series 2023-CES2, Class M1, 8.08%, 10/25/63 (b),(d),(e) | 3644000 | 3732761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tricolor Auto Securitization Trust, Series 2025-1A, Class D, 6.84%, 04/15/31 (b),(d) | 498000 | 510071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinitas CLO VI Ltd., Series 2017-6A, Class ER, 3 mo. TSFR + 7.08%,<br>11.36%, 01/25/34 (b),(d),(e) | 1000000 | 940679 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinitas CLO XXIV Ltd., Series 2024-24A, Class E, 3 mo. TSFR + 7.34%,<br>11.62%, 04/05/37 (b),(d),(e) | 1000000 | 996396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinitas CLO XXVI Ltd., Series 2023-26A, Class DR, 3 mo. TSFR + 3.70%,<br>7.99%, 07/20/38 (b),(d),(e) | 1000000 | 1001494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinitas CLO XXVII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-27A, Class D1, 3 mo. TSFR + 4.30%, 8.57%, 04/18/37 (b),(d),(e) | 3940000 | 3972785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-27X, Class D1, 3 mo. TSFR + 4.30%, 8.57%, 04/18/37 (b),(e),(i) | 1000000 | 1008321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinitas CLO XXVIII Ltd., Series 2024-28A, Class D, 3 mo. TSFR + 4.00%,<br>8.28%, 04/25/37 (b),(d),(e) | 4750000 | 4779222 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinitas CLO XXX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-30A, Class D1A, 3 mo. TSFR + 3.50%, 7.78%, 10/23/37 (b),(d),(e) | 3000000 | 3003369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-30A, Class E, 3 mo. TSFR + 6.90%, 11.18%, 10/23/37 (b),(d),(e) | 1750000 | 1769208 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Auto Credit Securitization Trust, Series 2025-1, Class E, 7.71%, 10/10/31 (b),(d) | 1402000 | 1409745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Upstart Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5, Class C, 4.15%, 11/20/31 (b),(d) | 705615 | 691610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class D, 8.00%, 06/20/35 (b),(d) | 918000 | 924040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class C, 9.27%, 04/20/35 (b),(d) | 1415000 | 1487455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vibrant CLO XII Ltd., Series 2021-12A, Class DR, 3 mo. TSFR + 6.94%,<br>11.21%, 04/20/34 (b),(d),(e) | 1000000 | 993419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vibrant CLO XIV Ltd., Series 2021-14A, Class D, 3 mo. TSFR + 7.12%,<br>11.39%, 10/20/34 (b),(d),(e) | 1000000 | 992513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voya CLO Ltd., Series 2018-3A, Class E, 3 mo. TSFR + 6.01%, 10.27%, 10/15/31 (b),(d),(e) | 1500000 | 1423609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wellfleet CLO Ltd., Series 2022-2A, Class ER, 3 mo. TSFR + 7.75%,<br>12.02%, 10/18/37 (b),(d),(e) | 2000000 | 1997938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo Home Equity Asset-Backed Securities Trust, Series 2006-1, Class M6, 1 mo. TSFR + .79%, 5.11%, 05/25/36 (b),(e) | 3132649 | 3146398 |
|  **Total North America** |  | **217172720** |
|  **TOTAL ASSET-BACKED SECURITIES<br>(COST $242,409,637)** |  | **240885139** |
|  **CONVERTIBLE BONDS — 0.1%** |  |  |
|  **Asia — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Internet — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd., 0.50%, 06/01/31 (b) | 133000 | 169419 |
|  **Total Asia** |  | **169419** |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | | **Value** |
|  **North America — 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Healthcare-Services — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ATI Physical Therapy, Inc.,<br>8.00%, 08/24/28 (b),(c) | $344162 |  | $344162 |
|  |  |  | 344162 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MicroStrategy, Inc., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 12/01/29 - 03/01/30 (b),(d),(f),(g) | 1400000 |  | 1480406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 09/15/28 (b),(d) | 200000 |  | 466300 |
|  |  |  | 1946706 |
|  **Total North America** |  |  | **2290868** |
|  **TOTAL CONVERTIBLE BONDS<br>(COST $2,318,868)** |  |  | **2460287** |
|  **BANK DEBT — 3.9%** |  |  |  |
|  **Europe — 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Entertainment — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; McLaren Racing Ltd., GBP Term Loan, 3 mo. GBP LIBOR + 5.50%,<br>0.00%, 12/31/35 (b),(c),(f) | 2484942 | GBP | 3628882 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cuppa Bidco BV, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR Term Loan B1, 6 mo. EURIBOR + 4.75%, 6.79%, 06/29/29 (b),(e) | 1854029 | EUR | 1884577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBP Term Loan B2, 12 mo. SONIA + 5.63%, 9.84%, 07/30/29 (b),(e) | 2600970 | GBP | 3116303 |
|  |  |  | 5000880 |
|  **Total Europe** |  |  | **8629762** |
|  **North America — 3.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Chemicals — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; TPC Group, Inc., 2024 Term Loan B, 6 mo. USD Term SOFR + 5.75%,<br>9.95%, 12/16/31 (b),(e) | $880548 |  | 845326 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial Services — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brock Holdings III, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 5.75%,<br>10.05%, 05/02/30 (b),(c),(e) | 696667 |  | 660092 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Construction Materials — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.75%,<br>8.18%, 11/23/27 (b),(e) | 1390158 |  | 1383791 |
| &nbsp;&nbsp;&nbsp;&nbsp; LHS Borrower LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 4.75%,<br>9.18%, 02/16/29 (b),(e) | 1160894 |  | 1059803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oscar AcquisitionCo LLC, Term Loan B, 3 mo. USD Term SOFR + 4.25%,<br>8.55%, 04/29/29 (b),(e) | 1518668 |  | 1394958 |
|  |  |  | 3838552 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Cosmetics/Personal Care — 0.2%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Revlon Intermediate Holdings IV LLC, 2023 Exit Term Loan, 6 mo. USD Term SOFR + 6.88%, 10.95%, 05/02/28 (b),(e) | 8487354 |  | 8285779 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Distribution/Wholesale — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Veritiv Corp., Term Loan B, 3 mo. USD Term SOFR + 4.00%, 8.30%, 11/30/30 (b),(e) | 565841 |  | 567398 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financial Services — 0.4%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas CC Acquisition Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 3 mo. USD Term SOFR + 4.25%, 8.84%, 05/25/28 (b),(e) | 1209011 |  | 626099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan C, 3 mo. USD Term SOFR + 4.25%, 8.84%, 05/25/28 (b),(e) | 238897 |  | 123529 |
| &nbsp;&nbsp;&nbsp;&nbsp; CPC Acquisition Corp., Term Loan, 3 mo. USD Term SOFR + 3.75%,<br>8.31%, 12/29/27 (b),(c),(e) | 4420169 |  | 3845547 |
| &nbsp;&nbsp;&nbsp;&nbsp; Curo Group Holdings Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 PIK 1st Out Term Loan, 3 mo. USD Term SOFR + 14.27%,<br>0.00%, 07/19/28 (b),(c),(e),(f) | 1451994 |  | 1451994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 PIK 2nd Out Term Loan, 13.00%, 07/19/28 (b) | 6130099 |  | 5455788 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Form Technologies LLC, 2025 Term Loan, 3 mo. USD Term SOFR + 5.75%,<br>10.02%, 07/19/30 (b),(c),(e) | 1858563 | $1754019 |
|  |  | 13256976 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Engineering & Construction — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brand Industrial Services, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 4.50%,<br>8.78%, 08/01/30 (b),(e) | 639132 | 532397 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; H-Food Holdings LLC, 2025 Exit Term Loan, 1 mo. USD Term SOFR + 6.50%,<br>10.83%, 03/29/30 (b),(e) | 3065347 | 3093456 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Natural Foods, Inc., 2024 Term Loan, 1 mo. USD Term SOFR + 4.75%,<br>9.08%, 05/01/31 (b),(e) | 2489431 | 2501879 |
|  |  | 5595335 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food Service — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; TKC Holdings, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 PIK Toggle Holdco Term Loan, 6 mo. USD Term SOFR + 12.00%,<br>12.00%, 02/15/27 (b),(c) | 3860610 | 3600018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, 1 mo. USD Term SOFR + 5.00%, 9.32%, 05/15/28 (b),(e) | 1189531 | 1188544 |
|  |  | 4788562 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Healthcare-Products — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Arthur U.S. Finco, Inc., Term Loan B, 3 mo. USD Term SOFR + 5.25%, 9.55%, 12/14/29 (b),(e) | 2795610 | 2596423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bausch & Lomb Corp., 2025 Term Loan B, 4.25%, 01/15/31 (b),(c),(e),(j) | 214656 | 214791 |
|  |  | 2811214 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Healthcare-Services — 0.7%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aveanna Healthcare LLC, 2021 2nd Lien Term Loan, 3 mo. USD Term SOFR + 7.00%,<br>11.48%, 12/10/29 (b),(e) | 3266610 | 3188211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.00%,<br>8.40%, 10/01/27 (b),(e) | 98279 | 94519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Symplr Software, Inc., 2020 Term Loan, 3 mo. USD Term SOFR + 4.50%, 8.88%, 12/22/27 (b),(e) | 5165074 | 4698771 |
| &nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc., 2022 Term Loan B, 3 mo. USD Term SOFR + 5.25%,<br>9.53%, 03/02/27 (b),(e) | 11088446 | 11017369 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Renal Care, Inc., 2023 Superpriority Term Loan, 1 mo. USD Term SOFR + 5.00%,<br>9.44%, 06/20/28 (b),(e) | 1367146 | 1290244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Women's Care Enterprises LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, 3 mo. USD Term SOFR + 8.25%, 12.63%, 01/12/29 (b),(e) | 2998891 | 2466588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 3 mo. USD Term SOFR + 4.50%, 8.88%, 01/15/28 (b),(e) | 2953512 | 2702464 |
|  |  | 25458166 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Home Furnishings — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Weber-Stephen Products LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Incremental Term Loan B, 1 mo. USD Term SOFR + 4.25%, 8.68%, 10/30/27 (b),(e) | 263100 | 261850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.69%, 10/30/27 (b),(e) | 3084274 | 3059045 |
|  |  | 3320895 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Household Products/Wares — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kronos Acquisition Holdings, Inc., 2024 Term Loan, 3 mo. USD Term SOFR + 4.00%,<br>8.30%, 07/08/31 (b),(e) | 3929827 | 3506389 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Housewares — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Springs Windows Fashions LLC, 2024 First Lien Second Out TL A2, 1 mo. USD Term SOFR + 4.00%, 8.44%, 10/06/28 (b),(e) | 8742239 | 6662286 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Insurance — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asurion LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan B3, 1 mo. USD Term SOFR + 5.25%, 9.69%, 01/31/28 (b),(e) | 1429835 | $1363705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan B4, 1 mo. USD Term SOFR + 5.25%, 9.69%, 01/20/29 (b),(e) | 2774471 | 2568549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B11, 1 mo. USD Term SOFR + 4.25%, 8.68%, 08/19/28 (b),(e) | 770080 | 761140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B12, 1 mo. USD Term SOFR + 4.25%, 8.58%, 09/19/30 (b),(e) | 1494218 | 1455458 |
|  |  | 6148852 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Internet — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MH Sub I LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, 6.25%, 02/23/29 (b),(e),(j) | 492215 | 430073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, 4.25%, 05/03/28 (b),(e),(j) | 670049 | 627963 |
|  |  | 1058036 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Investment Company Security — 0.3%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ATI Holdings Acquisition, Inc., 2023 2nd Lien Delayed Draw Term Loan, 8.00%, 08/24/28 (b),(c) | 876731 | 876730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bulldog Purchaser, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Fungible Add On Term Loan B, 0.00%, 06/27/31 (b),(c),(e),(f) | 12000 | 11970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, 3 mo. USD Term SOFR + 3.75%, 8.03%, 06/27/31 (b),(e) | 992512 | 993753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Infinity Bidco U.S. LLC, 2025 PIK Tranche 1 Term Loan, 3 mo. USD Term SOFR + 5.50%,<br>9.80%, 04/30/26 (b),(c),(e) | 5380413 | 5380413 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Millennium HoldCo, Inc., 2020 Term Loan, 1 mo. USD Term SOFR + 5.50%, 9.83%, 05/14/26 (b),(c),(e) | 915860 | 915860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Solaris U.S. Bidco LLC, Term Loan B, 3 mo. USD Term SOFR + 5.25%,<br>9.58%, 11/29/30 (b),(c),(e) | 2952292 | 2893246 |
|  |  | 11071972 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>IT Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Optiv Security, Inc., 2023 Term Loan, 3 mo. USD Term SOFR + 5.25%, 9.53%, 07/31/26 (b),(e) | 1370946 | 1098223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peraton Corp., Term Loan B, 1 mo. USD Term SOFR + 3.75%, 8.18%, 02/01/28 (b),(e) | 36733 | 32337 |
|  |  | 1130560 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Machinery-Diversified — 0.3%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Engineered Machinery Holdings, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 2nd Lien Incremental Term Loan, 3 mo. USD Term SOFR + 6.50%,<br>11.06%, 05/21/29 (b),(c),(e) | 1122432 | 1125238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 2nd Lien Term Loan, 3 mo. USD Term SOFR + 6.00%,<br>10.56%, 05/21/29 (b),(c),(e) | 9045028 | 9056334 |
|  |  | 10181572 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Learfield Communications LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 4.50%,<br>8.83%, 06/30/28 (b),(e) | 5336553 | 5367238 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Mining — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Rock Salt Co. LLC, 2021 Term Loan, 1 mo. USD Term SOFR + 4.00%,<br>8.59%, 06/09/28 (b),(e) | 49134 | 39869 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Pathway Vet Alliance LLC, 2025 Tranche A Term Loan A, 3 mo. USD Term SOFR + 5.00%, 9.28%, 06/30/28 (b),(e) | 777626 | 779959 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate Investment Trusts — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc., 2025 Term Loan B, 3.25%, 06/13/30 (b),(c),(e),(j) | 1000000 | 1001250 |
| &nbsp;&nbsp;&nbsp;&nbsp; KREF Holdings X LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.25%,<br>7.56%, 03/05/32 (b),(c),(e) | 244388 | 245609 |
|  |  | 1246859 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retail — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Michaels Cos., Inc., 2021 Term Loan B, 3 mo. USD Term SOFR + 4.25%,<br>8.81%, 04/17/28 (b),(e) | 2159778 |  | $1805661 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software — 0.4%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Castle U.S. Holding Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 EUR FLSO Term Loan B1, 3 mo. EURIBOR + 4.25%,<br>6.29%, 05/31/30 (b),(e) | 1908570 | EUR | 1112859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 New Money FLFO Term Loan, 3 mo. USD Term SOFR + 5.00%,<br>9.33%, 04/29/30 (b),(e) | $1301544 |  | 1301544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD FLSO Term Loan B1, 3 mo. USD Term SOFR + 4.25%,<br>8.84%, 05/31/30 (b),(e) | 6748227 |  | 3652478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD FLSO Term Loan B2, 4.50%, 05/31/30 (b),(e),(j) | 26540 |  | 14146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Parent, Inc., 2024 Term Loan B, 3.25%, 07/06/29 (b),(e),(j) | 845557 |  | 704010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Constant Contact, Inc., Term Loan, 3 mo. USD Term SOFR + 4.00%,<br>8.52%, 02/10/28 (b),(e) | 7780425 |  | 7430306 |
|  |  |  | 14215343 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunications — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Tel\*Link Corp., 2024 Term Loan, 1 mo. USD Term SOFR + 7.50%,<br>11.83%, 08/06/29 (b),(e) | 1447624 |  | 1425910 |
|  **Total North America** |  |  | **134601198** |
|  **Oceania — 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financial Services — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; HB Acquisitions LLC, 2024 AUD Term Loan A, 3 mo. BBSY + 6.50%,<br>10.33%, 08/06/29 (b),(c),(e) | 3574471 | AUD | 2317249 |
|  **Total Oceania** |  |  | **2317249** |
|  **South America — 0.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Airlines — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Azul Secured Finance LLP, New Money DIP Term Loan, PRIME + 16.00%,<br>16.00%, 02/27/26 (b),(e) | $15602 |  | 2906 |
|  **Total South America** |  |  | **2906** |
|  **TOTAL BANK DEBT<br>(COST $145,313,275)** |  |  | **145551115** |
|  **CORPORATE BONDS & NOTES — 8.8%** |  |  |  |
|  **Africa — 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Chemicals — 0.2%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sasol Financing USA LLC, 6.50%, 09/27/28 (b) | $7908000 |  | 7513493 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Engineering & Construction — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; IHS Holding Ltd., 5.63%, 11/29/26 (b),(i) | 1533000 |  | 1505726 |
|  **Total Africa** |  |  | **9019219** |
|  **Asia — 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Auto Manufacturers — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Uzauto Motors AJ, 4.85%, 05/04/26 (b),(i) | 1899000 |  | 1866202 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial Services — 0.2%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adani Ports & Special Economic Zone Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/30/27 (b),(i) | 2424000 |  | 2337867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/04/27 (b),(i) | 5774000 |  | 5560637 |
|  |  |  | 7898504 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Electric — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; LLPL Capital Pte. Ltd., 6.88%, 02/04/39 (b),(i) | 2278317 |  | 2317824 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Lodging — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., 5.75%, 07/21/28 (b),(i) | 3231000 |  | 3156687 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Scenery Journey Ltd., GBP Term Loan B2, 11.50%, 10/24/22 (b),(i),(k) | $3607000 |  | $36070 |
|  **Total Asia** |  |  | **15275287** |
|  **Europe — 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Agriculture — 0.2%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MHP Lux SA, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 09/19/29 (b),(d) | 689000 |  | 558835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBP Term Loan B2, 6.25%, 09/19/29 (b),(i) | 3232000 |  | 2621417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBP Term Loan B2, 6.95%, 04/03/26 (b),(i) | 2857000 |  | 2657010 |
|  |  |  | 5837262 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Healthcare-Services — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kedrion SpA, 6.50%, 09/01/29 (b),(d) | 1464000 |  | 1401102 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Oil & Gas — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ORLEN SA, 3.63%, 07/02/32 (b),(i) | 3763000 | EUR | 4392998 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retail — 0.3%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Stonegate Pub Co. Financing 2019 PLC, 10.75%, 07/31/29 (b),(d) | 8565000 | GBP | 12188173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stonegate Pub Co. Financing PLC, 10.75%, 07/31/29 (b),(i) | 200000 | GBP | 284604 |
|  |  |  | 12472777 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Water — 0.4%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Water Services Finance Ltd., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 03/30/27 (b),(i) | 1721000 | GBP | 2102917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.64%, 03/31/26 (b),(i) | 2432000 | GBP | 3255087 |
| &nbsp;&nbsp;&nbsp;&nbsp; SW Finance I PLC, 7.75%, 10/31/31 (b),(i) | 1990000 | GBP | 2759055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 10/10/27 (b),(d) | 305356 | GBP | 459089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thames Water Utilities Finance PLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 01/31/32 (b),(i) | 1186000 | EUR | 890635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 04/22/40 (b),(i) | 495000 | GBP | 446690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 01/24/32 (b),(i) | 1188000 | GBP | 1056391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/18/27 (b),(i) | 545000 | EUR | 414410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/28/37 (b),(i) | 295000 | GBP | 269541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/11/41 (b),(i) | 200000 | GBP | 180890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/16/28 (b) | 1380000 | GBP | 1266196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 04/30/31 (b),(i) | 612000 | GBP | 567805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 04/30/44 (b),(i) | 200000 | GBP | 185828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 04/25/40 (b),(i) | 200000 | GBP | 193279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thames Water Utilities Ltd., 0.00%, 03/22/27 (b),(d),(f) | 45204 | GBP | 51754 |
|  |  |  | 14099567 |
|  **Total Europe** |  |  | **38203706** |
|  **Middle East — 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial Services — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mersin Uluslararasi Liman Isletmeciligi AS, 8.25%, 11/15/28 (b),(i) | $3241000 |  | 3368163 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Electric — 0.4%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aydem Yenilenebilir Enerji AS, 7.75%, 02/02/27 (b),(i) | 7008300 |  | 6936605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zorlu Enerji Elektrik Uretim AS, 11.00%, 04/23/30 (b),(i) | 7651000 |  | 7058602 |
|  |  |  | 13995207 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Investment Company Security — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Gaci First Investment Co., 5.38%, 10/13/22 (b),(i) | 7473000 |  | 6165225 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alpha Star Holding VIII Ltd., 8.38%, 04/12/27 (b),(i) | $3125000 | $3234919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26 (b),(i) | 3023000 | 2916850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sobha Sukuk Ltd., 8.00%, 02/19/29 (b),(i) | 2000000 | 2043631 |
|  |  | 8195400 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunications — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Turk Telekomunikasyon AS, 7.38%, 05/20/29 (b),(i) | 7014000 | 7154659 |
|  **Total Middle East** |  | **38878654** |
|  **North America — 4.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Advertising — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/29 (b),(d) | 9451000 | 8741207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 04/15/28 (b),(d) | 665000 | 628425 |
|  |  | 9369632 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Auto Manufacturers — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Rivian Holdings LLC, 10.00%, 01/15/31 (b),(d) | 716000 | 703486 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Chemicals — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Braskem Idesa SAPI, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.99%, 02/20/32 (b),(i) | 1226000 | 851161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 11/15/29 (b),(i) | 4037000 | 2973251 |
| &nbsp;&nbsp;&nbsp;&nbsp; WR Grace Holdings LLC, 5.63%, 08/15/29 (b),(d) | 3578000 | 3238756 |
|  |  | 7063168 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial Services — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sotheby's, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/01/29 (b),(d) | 1505000 | 1355285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/15/27 (b),(d) | 534000 | 527853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verde Purchaser LLC, 10.50%, 11/30/30 (b),(d) | 1757000 | 1901944 |
|  |  | 3785082 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Construction Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Oscar AcquisitionCo LLC, 9.50%, 04/15/30 (b),(d) | 808000 | 657924 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financial Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MF Global Holdings Ltd., 6.75%, 08/08/49 (b),(c),(g),(k) | 436000 | 101370 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Engineering & Construction — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brand Industrial Services, Inc., 10.38%, 08/01/30 (b),(d) | 1748000 | 1612768 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; C&S Group Enterprises LLC, 5.00%, 12/15/28 (b),(d) | 126000 | 113767 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food Service — 0.3%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; TKC Holdings, Inc., 10.50%, 05/15/29 (b),(d) | 9832000 | 10102693 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Healthcare-Services — 0.3%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Akumin, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 08/01/28 (b),(d) | 6650000 | 5953089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIK, 9.00%, 08/01/27 (b),(d) | 1639485 | 1545215 |
| &nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc., PIK, 13.50%, 06/30/28 (b),(d) | 1578928 | 1713137 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Renal Care, Inc., 10.63%, 06/28/28 (b),(d) | 1563050 | 1330546 |
|  |  | 10541987 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Household Products/Wares — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kronos Acquisition Holdings, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 06/30/31 (b),(d) | $1139000 | $1034306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 06/30/32 (b),(d) | 3258000 | 2367095 |
|  |  | 3401401 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Housewares — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; SWF Holdings I Corp., 6.50%, 10/06/29 (b),(d) | 2853400 | 1355349 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Insurance — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re Ltd., 14.07%, 04/10/29 (b),(d),(e) | 250000 | 250775 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Internet — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Telegram Group, Inc., 9.00%, 06/05/30 (b),(i) | 716000 | 714854 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Lodging — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Full House Resorts, Inc., 8.25%, 02/15/28 (b),(d) | 1948000 | 1892821 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; McGraw-Hill Education, Inc., 8.00%, 08/01/29 (b),(d) | 7487000 | 7623278 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Oil & Gas — 1.5%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Calumet Specialty Products Partners LP, 9.75%, 07/15/28 (d) | 4448000 | 4434704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Petroleos Mexicanos, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/12/28 (b) | 11000000 | 10562658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/13/27 - 01/23/29 (b) | 9280000 | 9174975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 06/15/35 (b) | 2800000 | 2359781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/21/47 (b) | 13241000 | 9590336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 01/28/60 (b) | 3240000 | 2328228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.69%, 01/23/50 (b) | 23792000 | 18714435 |
|  |  | 57165117 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Packaging & Containers — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co., 9.25%, 04/15/27 (b),(d) | 2026000 | 2011795 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1261229 BC Ltd., 10.00%, 04/15/32 (b),(d) | 3183000 | 3210915 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pipelines — 0.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Martin Midstream Partners LP/Martin Midstream Finance Corp., 11.50%, 02/15/28 (b),(d) | 8352000 | 8778436 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate Investment Trusts — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; IIP Operating Partnership LP, 5.50%, 05/25/26 (b) | 1779000 | 1730400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pebblebrook Hotel LP, 6.38%, 10/15/29 (b),(d) | 270000 | 271451 |
|  |  | 2001851 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retail — 0.3%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GPS Hospitality Holding Co. LLC, 7.00%, 08/15/28 (b),(d) | 4829000 | 2800820 |
| &nbsp;&nbsp;&nbsp;&nbsp; Guitar Center Holdings, Inc., 0.00%, 12/13/30 (b),(c),(f) | 5755948 | 1539716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Michaels Cos., Inc. (The), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/01/28 (b),(d) | 2002000 | 1600603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 05/01/29 (b),(d) | 7046000 | 4615130 |
|  |  | 10556269 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software — 0.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Parent LLC, 8.00%, 06/15/29 (b),(d) | 1208000 | 998891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Central Parent, Inc., 7.25%, 06/15/29 (b),(d) | 1120000 | 910179 |
|  |  | 1909070 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunications — 0.6%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; America Movil SAB de CV, 5.00%, 01/20/33 (b) | $4006000 |  | $4012169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digicel Intermediate Holdings Ltd., PIK, 12.00%, 05/25/27 (b),(g) | 2170439 |  | 2189430 |
| &nbsp;&nbsp;&nbsp;&nbsp; Digicel Midco Ltd., PIK, 10.50%, 11/25/28 (b),(g) | 4963708 |  | 4914068 |
| &nbsp;&nbsp;&nbsp;&nbsp; EchoStar Corp., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 11/30/29 (b) | 429796 |  | 442690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIK, 6.75%, 11/30/30 (b) | 609055 |  | 555842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Millicom International Cellular SA, 4.50%, 04/27/31 (b),(i) | 7532000 |  | 6879470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Play Telecomunicaciones SA de CV, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 12/31/28 (b),(i) | 498000 |  | 472144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.13%, 12/31/32 (b),(d),(i) | 3504650 |  | 3316801 |
|  |  |  | 22782614 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brightline East LLC, 11.00%, 01/31/30 (b),(d) | 860000 |  | 636400 |
|  **Total North America** |  |  | **168342822** |
|  **South America — 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Airlines — 0.2%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Azul Secured Finance LLP, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/28/30 (b),(d),(k) | 1585293 |  | 1981616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.88%, 08/28/30 (b),(k) | 802022 |  | 20051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 08/28/29 (b),(k) | 2385785 |  | 47716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.93%, 08/28/28 (b),(c),(k) | 2699274 |  | 985235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.50%, 10/30/25 (b),(c),(d),(k) | 5072420 | BRL | 933614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Latam Airlines Group SA, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 01/07/31 (b),(d) | $214000 |  | 214802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 04/15/30 (b),(i) | 4000000 |  | 4080000 |
|  |  |  | 8263034 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Chemicals — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Braskem Netherlands Finance BV, 4.50%, 01/10/28 (b),(i) | 2883000 |  | 2480248 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Electric — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Generacion Mediterranea SA, 11.00%, 11/01/31 (b),(i) | 1909000 |  | 1107220 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Forest Products&Paper — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; LD Celulose International GmbH, 7.95%, 01/26/32 (b),(i) | 4422000 |  | 4654155 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Iron/Steel — 0.3%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Samarco Mineracao SA, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIK, 0.00%, 06/30/31 (b),(f),(i) | 3178175 |  | 3124322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIK, 9.50%, 06/30/31 (b),(d) | 9242889 |  | 9086272 |
|  |  |  | 12210594 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media — 0.2%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; VTR Comunicaciones SpA, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/29 (b),(i) | 3800000 |  | 3369091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/15/28 (b),(i) | 2840000 |  | 2687971 |
|  |  |  | 6057062 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Oil & Gas — 0.7%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Petroleos del Peru SA, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/19/32 (b),(i) | $11931000 |  | $9224625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/19/47 (b),(i) | 6987000 |  | 4403164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Petrorio Luxembourg Holding SARL, 6.13%, 06/09/26 (b),(i) | 2759000 |  | 2764041 |
| &nbsp;&nbsp;&nbsp;&nbsp; Raizen Fuels Finance SA, 6.95%, 03/05/54 (b),(i) | 5520000 |  | 5121061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trident Energy Finance PLC, 12.50%, 11/30/29 (b),(i) | 2520000 |  | 2517952 |
|  |  |  | 24030843 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunications — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Telecom Argentina SA, 9.50%, 07/18/31 (b),(i) | 3006000 |  | 3133755 |
|  **Total South America** |  |  | **61936911** |
|  **Supranational — 0.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Multi-National — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; International Bank for Reconstruction & Development, 15.62%, 04/24/28 (b),(d),(e) | 250000 |  | 254575 |
|  **Total Supranational** |  |  | **254575** |
|  **TOTAL CORPORATE BONDS & NOTES<br>(COST $330,005,863)** |  |  | **331911174** |
|  **SOVEREIGN DEBT — 3.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile Government International Bonds, 5.65%, 01/13/37 (b) | 13353000 |  | 13754925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ecuador Government International Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 07/31/30 (b),(f),(i) | 3243630 |  | 2341252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/31/35 (b),(g),(i) | 2081241 |  | 1507839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 07/31/30 (b),(g),(i) | 7824396 |  | 6787664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Egypt Government International Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 02/16/61 (b),(i) | 8510000 |  | 6195277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.90%, 02/21/48 (b),(i) | 1281000 |  | 983865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.70%, 03/01/49 (b),(i) | 303000 |  | 248433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 05/29/50 (b),(i) | 539000 |  | 447581 |
| &nbsp;&nbsp;&nbsp;&nbsp; El Salvador Government International Bonds, 0.25%, 04/17/30 (b),(i) | 4700000 |  | 98700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iraq International Bonds, 5.80%, 01/15/28 (b),(i) | 10601250 |  | 10467557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ivory Coast Government International Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/31/32 (b),(g),(i) | 1520507 |  | 1444501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/03/28 (b),(i) | 4837000 |  | 4845261 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lebanon Government International Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/09/24 (b),(i),(k) | 41209000 |  | 7720506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 04/19/30 (b),(i),(k) | 36333000 |  | 6823337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico Udibonos, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/40 (b) | 11307700 | MXN | 538819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/22/35 (b) | 32307714 | MXN | 1652911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Montenegro Government International Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/32 (b),(i) | 2148000 | EUR | 2503064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 03/12/31 (b),(i) | $2404000 |  | 2488140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Provincia de Buenos Aires, 6.63%, 09/01/37 (b),(g),(i) | 2956405 |  | 2121220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Republic of South Africa Government International Bonds, 5.88%, 09/16/25 (b) | 8097000 |  | 8089160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Republic of Tajikistan International Bonds, 7.13%, 09/14/27 (b),(i) | 2933333 |  | 2898133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Republic of Uzbekistan International Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/25/29 (b),(i) | 5002000 | EUR | 6028075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/29/27—02/20/29 (b),(i) | 5567000 | EUR | 6663326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 02/28/32 (b),(i) | $4584000 |  | 4710465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.85%, 10/12/28 (b),(i) | 3407000 |  | 3630462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Romania Government International Bonds, 5.38%, 03/22/31 (b),(i) | 2686000 | EUR | 3172320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sri Lanka Government International Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/15/38 (b),(g),(i) | $2483825 |  | 2013300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/28 (b),(i) | 4207816 |  | 3944828 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkiye Government International Bonds, 7.25%, 05/29/32 (b) | $4006000 |  | $4020817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viet Nam Debt & Asset Trading Corp., 1.00%, 10/10/25 (b),(i) | 7430000 |  | 7246515 |
|  **TOTAL SOVEREIGN DEBT<br>(COST $114,015,575)** |  |  | **125388253** |
|  **MORTGAGE-BACKED SECURITIES — 20.7%** |  |  |  |
|  **Europe — 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Collateralized Mortgage Obligation (Residential) — 0.0%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse First Boston Mortgage Securities Corp., Series 2003-AR26, Class CB1, 6.13%, 11/25/33 (b),(e) | 200348 |  | 180995 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial Mortgage-Backed Securities — 0.1%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Atom Mortgage Securities DAC, Series 1A, Class E, 3 mo. SONIO + 2.80%,<br>7.10%, 07/22/31 (b),(d),(e) | 550695 | GBP | 656736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taurus EU DAC, Series 2025-EU1A, Class E, 3 mo. EURIBOR + 3.50%,<br>5.99%, 02/17/35 (b),(d),(e) | 999933 | EUR | 1150520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taurus NL DAC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-NL1X, Class C, 3 mo. EURIBOR + 2.05%,<br>4.18%, 02/20/30 (b),(e),(i) | 53144 | EUR | 59046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-NL1X, Class D, 3 mo. EURIBOR + 2.50%,<br>4.63%, 02/20/30 (b),(e),(i) | 531446 | EUR | 546415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taurus UK DAC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-UK4X, Class E, 1 Day SONIO + 3.10%, 7.34%, 08/17/31 (b),(e),(i) | 69652 | GBP | 94020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series UK3A, Class E, 1 Day SONIO + 3.80%, 0.00%, 07/20/35 (b),(d),(e),(f) | 142000 | GBP | 194916 |
|  |  |  | 2701653 |
|  **Total Europe** |  |  | **2882648** |
|  **North America — 20.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Collateralized Mortgage Obligation (Residential) — 2.5%</u>* |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ajax Mortgage Loan Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-E, Class B1, 3.73%, 12/25/60 (b),(d),(e) | $972000 |  | 639506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-E, Class B2, 4.01%, 12/25/60 (b),(d),(e) | 762000 |  | 477497 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alternative Loan Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-16CB, Class M, 5.77%, 08/25/34 (b),(e) | 282679 |  | 248622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-22CB, Class M, 6.00%, 10/25/34 (b),(e) | 355685 |  | 247439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-2CB, Class M, 5.95%, 03/25/34 (b),(e) | 301388 |  | 249728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-4CB, Class M, 5.68%, 04/25/34 (b),(e) | 155467 |  | 119338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10CB, Class 1A1, 1 mo. TSFR + .61%, 4.93%, 05/25/35 (b),(e) | 252906 |  | 190364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11CB, Class 3A2, 1 mo. TSFR + .61%, 4.93%, 06/25/35 (b),(e) | 270452 |  | 198706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-28CB, Class 2A8, 1 mo. TSFR + .51%, 4.83%, 08/25/35 (b),(e) | 1588285 |  | 881119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-56, Class 1A2, 1 mo. TSFR + 1.27%, 4.42%, 11/25/35 (b),(e) | 273062 |  | 258776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-59, Class 1A1, 1 mo. TSFR + .77%, 5.10%, 11/20/35 (b),(e) | 5988860 |  | 5307196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-69, Class A2, 12 mo. MTA + 1.70%, 6.10%, 12/25/35 (b),(e) | 253931 |  | 254314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-76, Class 1A2, 12 mo. MTA + 2.00%, 6.40%, 01/25/36 (b),(e) | 1544180 |  | 1316798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J9, Class 1A1, 1 mo. TSFR + .81%, 5.13%, 08/25/35 (b),(e) | 465254 |  | 242511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-13T1, Class A15, 6.00%, 05/25/36 (b) | 382973 |  | 160283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-19CB, Class A19, 1 mo. TSFR + .91%, 5.23%, 08/25/36 (b),(e) | 545452 |  | 245128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-20CB, Class A1, 1 mo. TSFR + .45%, 4.77%, 07/25/36 (b),(e) | 703318 |  | 193990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-20CB, Class A6, 1 mo. TSFR + .61%, 4.93%, 07/25/36 (b),(e) | 683611 |  | 205861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-21CB, Class A5, 1 mo. TSFR + .51%, 4.83%, 07/25/36 (b),(e) | 498832 |  | 202911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-23CB, Class 2A3, 6.50%, 08/25/36 (b) | 712979 |  | 202575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-28CB, Class A10, 1 mo. TSFR + .81%, 5.13%, 10/25/36 (b),(e) | 671394 |  | 248676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-28CB, Class A19, 1 mo. TSFR + .51%, 4.83%, 10/25/36 (b),(e) | 709661 |  | 239970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-29T1, Class 3A1, 6.50%, 10/25/36 (b) | 565911 |  | 140888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-31CB, Class A3, 6.00%, 11/25/36 (b) | 429033 |  | 249930 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-31CB, Class A5, 1 mo. TSFR + .86%, 5.18%, 11/25/36 (b),(e) | $485023 | $214169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-39CB, Class 1A6, 1 mo. TSFR + .71%, 5.03%, 01/25/37 (b),(e) | 275281 | 194206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-41CB, Class 2A7, 1 mo. TSFR + .71%, 5.03%, 01/25/37 (b),(e) | 1104176 | 451701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-41CB, Class 2A8, 1 mo. TSFR + .76%, 5.08%, 01/25/37 (b),(e) | 1141531 | 469377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-7CB, Class 1A4, 6.00%, 05/25/36 (b) | 739581 | 379537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8T1, Class 1A1, 1 mo. TSFR + .61%, 4.93%, 04/25/36 (b),(e) | 685791 | 228698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J1, Class 1A4, 1 mo. TSFR + .61%, 4.93%, 02/25/36 (b),(e) | 332691 | 202017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J2, Class A1, 1 mo. TSFR + .61%, 4.93%, 04/25/36 (b),(e) | 588057 | 224957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA12, Class A1C, 1 mo. TSFR + .39%, 4.71%, 09/20/46 (b),(e) | 306896 | 253024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA12, Class A2, 1 mo. TSFR + .32%, 4.64%, 09/20/46 (b),(e) | 170104 | 153083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA16, Class A3, 1 mo. TSFR + .61%, 4.93%, 10/25/46 (b),(e) | 254149 | 214882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA19, Class A1, 1 mo. TSFR + .29%, 4.61%, 02/20/47 (b),(e) | 502899 | 397002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA19, Class A4, 1 mo. TSFR + .32%, 4.64%, 02/20/47 (b),(e) | 299695 | 244615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA2, Class A1, 1 mo. TSFR + .53%, 4.85%, 05/20/46 (b),(e) | 501686 | 431353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA8, Class 2A3, 1 mo. TSFR + .49%, 4.81%, 07/25/46 (b),(e) | 108711 | 110210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA8, Class 2A4, 1 mo. TSFR + .63%, 4.95%, 07/25/46 (b),(e) | 339420 | 260997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA9, Class 2A1A, 1 mo. TSFR + .53%, 4.85%, 07/20/46 (b),(e) | 572872 | 466087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-16CB, Class 1A2, 1 mo. TSFR + .51%, 4.83%, 08/25/37 (b),(e) | 371665 | 236058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-16CB, Class 2A1, 1 mo. TSFR + .56%, 4.88%, 08/25/37 (b),(e) | 2126005 | 695922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-17CB, Class 1A6, 1 mo. TSFR + .61%, 4.93%, 08/25/37 (b),(e) | 806133 | 366298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-18CB, Class 1A2, 1 mo. TSFR + .58%, 4.90%, 08/25/37 (b),(e) | 703300 | 188369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-20, Class A1, 1 mo. TSFR + .61%, 4.93%, 08/25/47 (b),(e) | 858165 | 310610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-23CB, Class A3, 1 mo. TSFR + .61%, 4.93%, 09/25/37 (b),(e) | 1788964 | 635984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-23CB, Class A7, 1 mo. TSFR + .51%, 4.83%, 09/25/37 (b),(e) | 626232 | 219709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-2CB, Class 1A7, 1 mo. TSFR + .61%, 4.93%, 03/25/37 (b),(e) | 550749 | 217658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-8CB, Class A5, 1 mo. TSFR + .61%, 4.93%, 05/25/37 (b),(e) | 873674 | 360874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HY6, Class A1, 1 mo. TSFR + .53%, 4.85%, 08/25/47 (b),(e) | 382644 | 324178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-J1, Class 3A1, 4.18%, 11/25/36 (b),(g) | 328920 | 227964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA11, Class A1A, 12 mo. MTA + 1.38%, 5.78%, 11/25/47 (b),(e) | 293635 | 254467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA2, Class 1A1, 12 mo. MTA + .84%, 5.24%, 03/25/47 (b),(e) | 187816 | 157145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OH2, Class A2B, 1 mo. TSFR + .47%, 4.79%, 08/25/47 (b),(e) | 125334 | 128555 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Home Mortgage Investment Trust, Series 2004-4, Class 6A2,<br>6.00%, 02/25/45 (b),(g) | 7500000 | 6450570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust, Series 2021-8, Class B1, 4.11%, 11/25/66 (b),(d),(e) | 109000 | 87160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Balboa Bay Loan Funding Ltd., Series 2023-2A, Class D, 3 mo. TSFR + 4.50%,<br>8.77%, 10/20/36 (b),(d),(e) | 1250000 | 1257812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banc of America Funding Trust, Series 2006-H, Class 5A1, 1 mo. TSFR + .47%,<br>4.79%, 10/20/36 (b),(e) | 3747543 | 1183362 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banc of America Mortgage Trust, Series 2004-F, Class B1, 6.12%, 07/25/34 (b),(e) | 199340 | 179017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Mortgage Loan Trust, Series 2021-NQM1, Class B2, 5.43%, 09/25/51 (b),(d) | 100000 | 87654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bear Stearns ALT-A Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-9, Class B1, 5.90%, 09/25/34 (b),(e) | 216058 | 209103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 2B1, 4.85%, 01/25/36 (b),(e) | 386699 | 241139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1, Class 11A2, 1 mo. TSFR + .75%, 5.07%, 02/25/36 (b),(e) | 1132632 | 974424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-3, Class 22A1, 4.19%, 05/25/36 (b),(e) | 328611 | 236312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4, Class 13A1, 1 mo. TSFR + .43%, 4.75%, 08/25/36 (b),(e) | 234013 | 194424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bear Stearns Asset-Backed Securities I Trust, Series 2007-AC5, Class A5, 1 mo. TSFR + .56%, 4.88%, 07/25/37 (b),(e) | 2514755 | 554305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Calcon Mutual Mortgage, Series 2023-1, Class M1, 4.97%, 06/25/54 (b),(d),(e) | 3006000 | 3012779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chase Mortgage Finance Trust, Series 2007-A1, Class 1M, 6.46%, 02/25/37 (b),(e) | 213193 | 170746 |
| &nbsp;&nbsp;&nbsp;&nbsp; ChaseFlex Trust, Series 2007-1, Class 1A1, 6.50%, 02/25/37 (b) | 1002703 | 348483 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; CHL Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-25, Class 1A2, 1 mo. TSFR + .89%, 5.21%, 02/25/35 (b),(e) | $401190 | $384515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3, Class 1A4, 1 mo. TSFR + .83%, 5.15%, 04/25/35 (b),(e) | 403622 | 365340 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-NCM2, Class B1, 7.30%, 08/25/34 (b),(e) | 658346 | 260820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR6, Class 2A4, 1 mo. TSFR + .55%, 4.87%, 09/25/36 (b),(e) | 809988 | 292829 |
| &nbsp;&nbsp;&nbsp;&nbsp; CitiMortgage Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A4, Class 1A5, 1 mo. TSFR + .76%, 5.08%, 09/25/36 (b),(e) | 710889 | 575317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A6, Class 1A1, 1 mo. TSFR + .71%, 5.03%, 06/25/37 (b),(e) | 264712 | 220448 |
| &nbsp;&nbsp;&nbsp;&nbsp; COLT Funding LLC, Series 2025-1, Class B1, 7.15%, 01/25/70 (b),(d),(e) | 627000 | 613106 |
| &nbsp;&nbsp;&nbsp;&nbsp; COLT Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2, Class B1, 3.95%, 02/25/67 (b),(d),(e) | 100000 | 84413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-5, Class B1, 4.68%, 03/25/67 (b),(d),(e) | 1000000 | 922017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class B1, 7.85%, 06/25/69 (b),(d),(e) | 3201000 | 3205619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-INV2, Class B1, 8.12%, 05/25/69 (b),(d),(e) | 1816000 | 1826743 |
| &nbsp;&nbsp;&nbsp;&nbsp; COLT Trust, Series 2021-RPL1, Class B2, 4.56%, 09/25/61 (b),(d),(e) | 446000 | 337394 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-8, Class DB1,<br>5.59%, 12/25/34 (b),(e) | 334124 | 244925 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSMC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM3, Class B2, 4.13%, 04/25/66 (b),(d),(e) | 800000 | 541685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM8, Class B2, 4.25%, 10/25/66 (b),(d),(e) | 100000 | 79203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deephaven Residential Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class B2, 3.93%, 04/25/66 (b),(d),(e) | 100000 | 72024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class B2, 4.13%, 08/25/66 (b),(d),(e) | 100000 | 72136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4, Class B2, 4.44%, 11/25/66 (b),(d),(e) | 100000 | 75498 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Alt-A Securities Mortgage Loan Trust, Series 2006-AR5, Class 1A1, 1 mo. TSFR + .37%, 4.69%, 10/25/36 (b),(e) | 1262802 | 396543 |
| &nbsp;&nbsp;&nbsp;&nbsp; DSLA Mortgage Loan Trust, Series 2005-AR2, Class 2A1A, 1 mo. TSFR + .53%,<br>4.85%, 03/19/45 (b),(e) | 937479 | 869116 |
| &nbsp;&nbsp;&nbsp;&nbsp; First Horizon Alternative Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FA8, Class 1A3, 1 mo. TSFR + .61%, 4.93%, 02/25/37 (b),(e) | 730124 | 211555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-FA2, Class 1A2, 1 mo. TSFR + .66%, 4.98%, 04/25/37 (b),(e) | 952636 | 228809 |
| &nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Corp. Trust, Series 2021-PJ1, Class B3,<br>2.75%, 06/25/51 (b),(d),(e) | 3678565 | 3007448 |
| &nbsp;&nbsp;&nbsp;&nbsp; GSR Mortgage Loan Trust, Series 2005-AR6, Class B1, 6.00%, 09/25/35 (b),(e) | 263118 | 210385 |
| &nbsp;&nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-10, Class 2A1B, 1 mo. TSFR + .87%, 5.19%, 11/19/35 (b),(e) | 991257 | 662848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4, Class 1A1A, 1 mo. TSFR + .47%, 4.79%, 05/19/46 (b),(e) | 536167 | 271562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-6, Class 2A1B, 1 mo. TSFR + .34%, 4.66%, 08/19/37 (b),(e) | 7027053 | 5691561 |
| &nbsp;&nbsp;&nbsp;&nbsp; IndyMac IMSC Mortgage Loan Trust, Series 2007-HOA1, Class A22, 1 mo. TSFR + .47%, 4.79%, 07/25/47 (b),(e) | 392330 | 285896 |
| &nbsp;&nbsp;&nbsp;&nbsp; IndyMac INDX Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR7, Class 3A1, 3.96%, 05/25/36 (b),(e) | 210504 | 181097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-FLX2, Class A2, 1 mo. TSFR + .49%, 4.81%, 04/25/37 (b),(e) | 207716 | 211564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-FLX5, Class 2A2, 1 mo. TSFR + .59%, 4.91%, 08/25/37 (b),(e) | 4186919 | 3561004 |
| &nbsp;&nbsp;&nbsp;&nbsp; JP Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A5, Class IB1, 5.39%, 08/25/35 (b),(e) | 561144 | 430089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-HE2, Class M3, 1 mo. SOFR + 3.25%, 7.55%, 03/25/54 (b),(d),(e) | 4000000 | 4047028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lehman Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2, Class 3A1, 1 mo. TSFR + .86%, 5.18%, 12/25/35 (b),(e) | 495391 | 240912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1, Class 1A2, 5.75%, 02/25/37 (b) | 480140 | 464830 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Lehman XS Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-17, Class WF41, 6.23%, 11/25/36 (b),(g) | $264251 | $249286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-15N, Class 4A1, 1 mo. TSFR + 1.01%, 5.33%, 08/25/47 (b),(e) | 243210 | 221247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3, Class M1, 5.40%, 11/25/35 (b),(e) | 276720 | 150136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A5, Class M1, 4.74%, 06/25/35 (b),(e) | 613214 | 543780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-7AR, Class B1, 5.86%, 09/25/34 (b),(e) | 243101 | 175090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-9, Class B1, 5.41%, 11/25/34 (b),(e) | 263166 | 226374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1, Class B1, 5.63%, 03/25/35 (b),(e) | 419195 | 293811 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, Series 2022-NQM1, Class B2,<br>3.79%, 01/25/26 (b),(d),(e) | 100000 | 60185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2006-AR3, Class A3A, 1 mo. TSFR + .45%, 4.77%, 10/25/36 (b),(e) | 280259 | 244281 |
| &nbsp;&nbsp;&nbsp;&nbsp; PRKCM Trust, Series 2023-AFC2, Class B2, 8.05%, 06/25/58 (b),(d),(e),(f) | 100000 | 100873 |
| &nbsp;&nbsp;&nbsp;&nbsp; RALI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QO7, Class 1A1, 12 mo. MTA + .80%, 5.20%, 09/25/46 (b),(e) | 303043 | 236608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-QH5, Class AI1, 1 mo. TSFR + .53%, 4.85%, 06/25/37 (b),(e) | 1371503 | 1029892 |
| &nbsp;&nbsp;&nbsp;&nbsp; RAMP Trust, Series 2005-RS4, Class M7, 1 mo. TSFR + 1.39%, 6.35%, 04/25/35 (b),(e) | 2253000 | 1891202 |
| &nbsp;&nbsp;&nbsp;&nbsp; RCKT Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-CES1, Class M2, 7.98%, 06/25/43 (b),(d),(e) | 251000 | 256916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-CES2, Class M1, 7.36%, 09/25/43 (b),(d),(e) | 5513000 | 5609296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential Asset Securitization Trust, Series 2006-A7CB, Class 1A4, 6.25%, 07/25/36 (b) | 300835 | 237580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FIG3, Class B, 7.71%, 08/25/53 (b),(d) | 1332784 | 1365333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-INV1, Class B1, 7.21%, 08/25/59 (b),(d),(e) | 1054000 | 1068227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sequoia Mortgage Trust, Series 2019-4, Class B4, 3.78%, 11/25/49 (b),(d),(e) | 2158000 | 1519754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-INV1, Class B1, 3.26%, 11/25/55 (b),(d) | 123000 | 112205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class B1, 3.35%, 06/25/56 (b),(d),(e) | 100000 | 71814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4, Class B2, 4.14%, 08/25/56 (b),(d),(e) | 268000 | 213398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class B1, 3.96%, 12/25/66 (b),(d),(e) | 135000 | 99308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Structured Asset Mortgage Investments II Trust, Series 2007-AR1, Class 2A2, 1 mo. TSFR + .53%, 4.85%, 01/25/37 (b),(e) | 393569 | 430835 |
| &nbsp;&nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2003-26A, Class B1II, 5.24%, 09/25/33 (b),(e) | 176305 | 124095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thornburg Mortgage Securities Trust, Series 2005-3, Class B1, 6.21%, 10/25/45 (b),(e) | 583521 | 455990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class B3, 4.56%, 01/25/60 (b),(d),(e) | 2690000 | 1869480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1, Class B2, 4.31%, 11/25/61 (b),(d),(e) | 494000 | 362583 |
| &nbsp;&nbsp;&nbsp;&nbsp; TRK Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV2, Class B2, 4.35%, 11/25/56 (b),(d),(e) | 1000000 | 728127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-INV1, Class B1, 3.99%, 02/25/57 (b),(d),(e) | 111000 | 83983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-INV1, Class B2, 3.99%, 02/25/57 (b),(d),(e) | 100000 | 62049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verus Securitization Trust, Series 2024-1, Class B1, 7.91%, 01/25/69 (b),(d),(e) | 2149000 | 2168485 |
| &nbsp;&nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR1, Class B1, 1 mo. TSFR + .94%, 5.26%, 01/25/45 (b),(e) | 225773 | 200638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR17, Class A1C4, 1 mo. TSFR + .91%, 5.23%, 12/25/45 (b),(e) | 455384 | 358966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR6, Class B1, 1 mo. TSFR + 1.01%, 5.33%, 04/25/45 (b),(e) | 450058 | 357561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR9, Class B1, 1 mo. TSFR + 1.06%, 5.38%, 07/25/45 (b),(e) | 147486 | 141057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR1, Class 2A1C, 12 mo. MTA + 1.07%, 5.47%, 01/25/46 (b),(e) | 177996 | 177619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR17, Class 1A, 12 mo. MTA + .82%, 4.07%, 12/25/46 (b),(e) | 1170570 | 979134 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR7, Class 2A, 12 mo. MTA + .98%, 5.38%, 07/25/46 (b),(e) | $297833 | $282816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HY6, Class 1A1, 4.04%, 06/25/37 (b),(e) | 268371 | 221459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11, Class A2, 5.75%, 01/25/36 (b) | 206402 | 175925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR1, Class A1B, 1 mo. TSFR + .79%, 5.11%, 12/25/35 (b),(e) | 240841 | 261188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5, Class 1A3, 6.00%, 07/25/36 (b) | 327233 | 256716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3, Class A19, 6.00%, 04/25/37 (b) | 465227 | 426525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA3, Class 2A, 12 mo. MTA + .75%, 5.15%, 02/25/47 (b),(e) | 216280 | 177895 |
|  |  | 94555123 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial Mortgage-Backed Securities — 2.8%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Arbor Multifamily Mortgage Securities Trust, Series 2022-MF4, Class E,<br>2.00%, 02/15/55 (b),(d) | 130000 | 96818 |
| &nbsp;&nbsp;&nbsp;&nbsp; AREIT LLC, Series 2022-CRE7, Class C, 1 mo. TSFR + 3.84%, 8.16%, 06/17/39 (b),(d),(e) | 1000000 | 1000750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Trust, Series 2025-IND3, Class E, 1 mo. TSFR + 3.55%, 7.86%, 04/15/27 (b),(d),(e) | 1000000 | 1001197 |
| &nbsp;&nbsp;&nbsp;&nbsp; BAHA Trust, Series 2024-MAR, Class C, 7.77%, 12/10/29 (b),(d),(e) | 166000 | 172376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-B7, Class D, 3.00%, 05/15/53 (b),(d) | 290000 | 232585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V11, Class XD, 2.09%, 11/15/57 (b),(d),(e),(h) | 1000000 | 70828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V7, Class XD, 3.08%, 06/15/29 (b),(d),(e),(h) | 1000000 | 94337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V8, Class XD, 3.18%, 07/15/57 (b),(d),(e),(h) | 1000000 | 101613 |
| &nbsp;&nbsp;&nbsp;&nbsp; BHMS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-ATLS, Class C, 1 mo. TSFR + 2.20%, 6.51%, 07/15/35 (b),(d),(e) | 525000 | 523897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-ATLS, Class E, 1 mo. TSFR + 3.30%, 7.61%, 07/15/35 (b),(d),(e) | 2103000 | 2086927 |
| &nbsp;&nbsp;&nbsp;&nbsp; BLP Commercial Mortgage Trust, Series 2024-IND2, Class E, 1 mo. TSFR + 3.69%,<br>8.00%, 03/15/41 (b),(d),(e) | 4734648 | 4732878 |
| &nbsp;&nbsp;&nbsp;&nbsp; BMO Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C10, Class XD, 2.50%, 05/15/58 (b),(d),(e),(h) | 1000000 | 96173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C9, Class XD, 2.20%, 12/15/57 (b),(d),(e),(h) | 1000000 | 83599 |
| &nbsp;&nbsp;&nbsp;&nbsp; BSPRT Issuer Ltd., Series 2022-FL9, Class C, 1 mo. TSFR + 3.92%,<br>8.23%, 07/15/39 (b),(d),(e) | 1277000 | 1277149 |
| &nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-VIVA, Class E, 3.67%, 03/11/44 (b),(d),(e) | 5006000 | 4507252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-CIP, Class F, 1 mo. TSFR + 3.33%, 7.65%, 12/15/38 (b),(d),(e) | 134586 | 134273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MC, Class G, 1 mo. TSFR + 3.20%, 7.51%, 04/15/34 (b),(d),(e) | 100000 | 96569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SOAR, Class F, 1 mo. TSFR + 2.46%, 6.78%, 06/15/38 (b),(d),(e) | 460287 | 460863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SOAR, Class G, 1 mo. TSFR + 2.91%, 7.23%, 06/15/38 (b),(d),(e) | 208663 | 208691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SOAR, Class J, 1 mo. TSFR + 3.86%, 8.18%, 06/15/38 (b),(d),(e) | 876738 | 876851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-AHP, Class E, 1 mo. TSFR + 3.04%, 7.35%, 01/17/39 (b),(d),(e) | 227000 | 225305 |
| &nbsp;&nbsp;&nbsp;&nbsp; BX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-GW, Class F, 1 mo. TSFR + 2.72%, 7.03%, 05/15/35 (b),(d),(e) | 106000 | 105847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ARIA, Class G, 1 mo. TSFR + 3.26%, 7.57%, 10/15/36 (b),(d),(e) | 1000000 | 994519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FOX2, Class E, 1 mo. TSFR + 2.96%, 7.27%, 04/15/39 (b),(d),(e) | 700000 | 698566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cali, Series 2024-SUN, Class E, 1 mo. TSFR + 4.62%, 8.94%, 07/15/41 (b),(d),(e) | 1000000 | 1001150 |
| &nbsp;&nbsp;&nbsp;&nbsp; CD Mortgage Trust, Series 2016-CD1, Class D, 2.89%, 08/10/49 (b),(d),(e) | 422000 | 208793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-GC8, Class C, 5.30%, 09/10/45 (b),(d),(e) | 91143 | 85880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-GC37, Class D, 2.79%, 04/10/49 (b),(d) | 100000 | 90778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C7, Class E, 2.75%, 12/15/72 (b),(d) | 697000 | 461789 |
| &nbsp;&nbsp;&nbsp;&nbsp; COMM Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-CR14, Class D, 3.79%, 02/10/47 (b),(d),(e) | 591000 | 462617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR27, Class E, 3.25%, 10/10/48 (b),(d) | 1439000 | 1217482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GC44, Class 180B, 3.51%, 08/15/57 (b),(d),(e) | 160000 | 143960 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR22, Class E, 3.00%, 03/10/48 (b),(d) | $239000 | $192196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR23, Class D, 4.36%, 05/10/48 (b),(e) | 218971 | 210014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR25, Class D, 3.94%, 08/10/48 (b),(e) | 479000 | 459442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR27, Class D, 3.60%, 10/10/48 (b),(d),(e) | 3065000 | 2748284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC21, Class C, 4.52%, 07/10/48 (b),(e) | 1113000 | 1086491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC21, Class D, 4.52%, 07/10/48 (b),(e) | 1348000 | 1291305 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSAIL Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C2, Class D, 4.24%, 06/15/57 (b),(e) | 843000 | 677971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C4, Class E, 3.89%, 11/15/48 (b),(e) | 100000 | 96201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C4, Class F, 3.50%, 11/15/48 (b),(d),(e) | 5568000 | 5163312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C5, Class C, 4.78%, 11/15/48 (b),(e) | 355000 | 349666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-CX11, Class D, 2.75%, 04/15/51 (b),(d),(e) | 604000 | 486933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C16, Class D, 3.00%, 06/15/52 (b),(d) | 163000 | 136212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C17, Class D, 2.50%, 09/15/52 (b),(d) | 1409000 | 1015641 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSTL Commercial Mortgage Trust, Series 2024-GATE, Class E, 7.19%, 11/10/41 (b),(d),(e) | 1000000 | 1019897 |
| &nbsp;&nbsp;&nbsp;&nbsp; ELP Commercial Mortgage Trust, Series 2021-ELP, Class J, 1 mo. TSFR + 3.73%,<br>8.04%, 11/15/38 (b),(d),(e) | 1035794 | 1035241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN1, Class M2, 1 mo. SOFR + 3.75%, 8.06%, 01/25/51 (b),(d),(e) | 102000 | 105158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MN2, Class M2, 1 mo. SOFR + 3.35%, 7.66%, 07/25/41 (b),(d),(e) | 128000 | 126714 |
| &nbsp;&nbsp;&nbsp;&nbsp; FREMF Mortgage Trust, Series 2017-KGX1, Class CFX, 3.71%, 10/25/27 (b),(d),(e) | 1000000 | 891445 |
| &nbsp;&nbsp;&nbsp;&nbsp; FS Rialto Issuer LLC, Series 2022-FL4, Class C, 1 mo. SOFR + 3.25%,<br>7.55%, 01/19/39 (b),(d),(e) | 1000000 | 999991 |
| &nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DM, Class F, 1 mo. TSFR + 3.55%, 7.86%, 11/15/36 (b),(d),(e) | 312000 | 306125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ROSS, Class F, 1 mo. TSFR + 4.16%, 8.48%, 05/15/26 (b),(d),(e) | 1019000 | 474386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ROSS, Class G, 1 mo. TSFR + 4.91%, 9.23%, 05/15/26 (b),(d),(e) | 1000000 | 352255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ROSS, Class H, 1 mo. TSFR + 6.16%, 10.48%, 05/15/26 (b),(d),(e) | 1000000 | 114157 |
| &nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-GCJ9, Class D, 4.74%, 11/10/45 (b),(d),(e) | 165512 | 153441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-GC24, Class B, 4.52%, 09/10/47 (b),(e) | 100000 | 93639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-GC24, Class C, 4.54%, 09/10/47 (b),(e) | 303000 | 269247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-GS2, Class D, 2.75%, 05/10/49 (b),(d) | 1415000 | 1294562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GS8, Class D, 2.70%, 11/10/50 (b),(d) | 1593000 | 1166024 |
| &nbsp;&nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust, Series 2005-12, Class 2A1B, 12 mo. MTA + 2.00%, 6.40%, 10/19/35 (b),(e) | 361055 | 286889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilton USA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-HHV, Class F, 4.33%, 11/05/38 (b),(d),(e) | 11467000 | 11017471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-SFP, Class F, 6.16%, 11/05/35 (b),(d) | 1068000 | 22010 |
| &nbsp;&nbsp;&nbsp;&nbsp; ICNQ Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MF, Class E, 6.56%, 11/06/34 (b),(d),(e) | 1827000 | 1836175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MF, Class F, 6.56%, 11/06/34 (b),(d),(e) | 1000000 | 971884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MF, Class X, 0.63%, 12/10/34 (b),(d),(e),(h) | 1000000 | 18213 |
| &nbsp;&nbsp;&nbsp;&nbsp; JP Morgan Chase Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-JP1, Class C, 4.88%, 01/15/49 (b),(e) | 102000 | 93623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-JP3, Class D, 3.56%, 08/15/49 (b),(d),(e) | 100000 | 84749 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C23, Class D, 4.20%, 09/15/47 (b),(d),(e) | 100000 | 87347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C26, Class C, 4.31%, 01/15/48 (b),(e) | 642000 | 615695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C31, Class E, 4.75%, 08/15/48 (b),(d),(e) | 1093000 | 396528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1, Class C, 4.85%, 03/17/49 (b),(e) | 651000 | 634873 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1, Class E, 4.85%, 03/15/49 (b),(d),(e) | $3126000 | $2706635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Mortgage Trust, Series 2021-BMR, Class F, 1 mo. TSFR + 2.46%,<br>6.78%, 03/15/38 (b),(d),(e) | 805000 | 797285 |
| &nbsp;&nbsp;&nbsp;&nbsp; LSTAR Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-5, Class C, 4.82%, 03/10/50 (b),(d),(e) | 967000 | 882914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-5, Class D, 4.82%, 03/10/50 (b),(d),(e) | 1125000 | 924264 |
| &nbsp;&nbsp;&nbsp;&nbsp; MF1 LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL9, Class B, 1 mo. TSFR + 3.15%, 7.47%, 06/19/37 (b),(d),(e) | 1213000 | 1213992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL9, Class C, 1 mo. TSFR + 3.70%, 8.02%, 06/19/37 (b),(d),(e) | 1000000 | 1000768 |
| &nbsp;&nbsp;&nbsp;&nbsp; MF1 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL6, Class D, 1 mo. TSFR + 2.66%, 6.98%, 07/16/36 (b),(d),(e) | 100000 | 99197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL8, Class C, 1 mo. TSFR + 2.20%, 6.52%, 02/19/37 (b),(d),(e) | 847000 | 842039 |
| &nbsp;&nbsp;&nbsp;&nbsp; MF1 Multifamily Housing Mortgage Loan Trust, Series 2021-FL5, Class E, 1 mo. TSFR + 3.11%, 7.43%, 07/15/36 (b),(d),(e) | 100000 | 99670 |
| &nbsp;&nbsp;&nbsp;&nbsp; MHC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MHC2, Class E, 1 mo. TSFR + 2.06%, 6.38%, 05/15/38 (b),(d),(e) | 265600 | 265847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MHC2, Class F, 1 mo. TSFR + 2.51%, 6.83%, 05/15/38 (b),(d),(e) | 876000 | 873201 |
| &nbsp;&nbsp;&nbsp;&nbsp; MHP Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-MHIL, Class F, 1 mo. TSFR + 3.26%, 7.57%, 01/15/27 (b),(d),(e) | 80000 | 79776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-MHIL, Class G, 1 mo. TSFR + 3.96%, 8.27%, 01/15/27 (b),(d),(e) | 626400 | 625093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C31, Class D, 3.00%, 11/15/49 (b),(d),(e) | 1441000 | 1094650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C32, Class D, 3.40%, 12/15/49 (b),(d),(e) | 991000 | 745210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust, Series 2016-UB11, Class E, 2.72%, 08/15/49 (b),(d),(e) | 3200500 | 2796363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class C, 1 mo. TSFR + 3.10%, 7.41%, 03/15/35 (b),(d),(e) | 98250 | 98290 |
| &nbsp;&nbsp;&nbsp;&nbsp; New Orleans Hotel Trust, Series 2019-HNLA, Class E, 1 mo. TSFR + 2.74%,<br>7.05%, 04/15/32 (b),(d),(e) | 1301000 | 1260961 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prima Capital CRE Securitization Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-RK1, Class CG, 4.00%, 04/15/38 (b),(d) | 339000 | 291768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-RK1, Class CT, 4.45%, 04/15/38 (b),(d) | 121000 | 105461 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ready Capital Mortgage Financing LLC, Series 2021-FL7, Class D, 1 mo. TSFR + 3.06%, 7.38%, 11/25/36 (b),(d),(e) | 100000 | 99897 |
| &nbsp;&nbsp;&nbsp;&nbsp; ReadyCap Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-6, Class C, 4.13%, 10/25/52 (b),(d),(e) | 1691000 | 1530742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-6, Class D, 4.67%, 10/25/52 (b),(d),(e) | 227000 | 189583 |
| &nbsp;&nbsp;&nbsp;&nbsp; RFR Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SGRM, Class E, 7.51%, 03/11/29 (b),(d),(e) | 1062000 | 1080264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SGRM, Class X, 0.11%, 03/11/29 (b),(d),(e),(h) | 1204000 | 3246 |
| &nbsp;&nbsp;&nbsp;&nbsp; RIDE, Series 2025-SHRE, Class E, 8.07%, 02/14/35 (b),(d),(e) | 1000000 | 1007794 |
| &nbsp;&nbsp;&nbsp;&nbsp; SFO Commercial Mortgage Trust, Series 2021-555, Class D, 1 mo. TSFR + 2.51%,<br>6.83%, 05/15/38 (b),(d),(e) | 1001000 | 976447 |
| &nbsp;&nbsp;&nbsp;&nbsp; SG Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C5, Class D, 4.97%, 10/10/48 (b),(d),(e) | 205000 | 162727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PREZ, Class E, 3.59%, 09/15/39 (b),(d),(e) | 1720000 | 1423205 |
| &nbsp;&nbsp;&nbsp;&nbsp; SHR Trust, Series 2024-LXRY, Class D, 1 mo. TSFR + 3.60%, 7.91%, 10/15/41 (b),(d),(e) | 674000 | 677215 |
| &nbsp;&nbsp;&nbsp;&nbsp; SREIT Trust, Series 2021-IND, Class G, 1 mo. TSFR + 3.38%, 7.69%, 10/15/38 (b),(d),(e) | 2556000 | 2538039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-LIH, Class F, 1 mo. TSFR + 3.67%, 7.98%, 11/15/36 (b),(d),(e) | 125000 | 123721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-LIH, Class G, 1 mo. TSFR + 4.31%, 8.63%, 11/15/36 (b),(d),(e) | 1000000 | 983374 |
| &nbsp;&nbsp;&nbsp;&nbsp; STWD Trust, Series 2021-FLWR, Class G, 1 mo. TSFR + 3.79%, 8.10%, 07/15/36 (b),(d),(e) | 178400 | 177570 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C11, Class D, 3.00%, 06/15/51 (b),(d),(e) | $112000 | $77869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C9, Class D, 5.11%, 03/15/51 (b),(d),(e) | 331000 | 219297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C17, Class D, 2.50%, 10/15/52 (b),(d) | 103000 | 70366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Velocity Commercial Capital Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3, Class M1, 7.51%, 08/25/53 (b),(d),(e) | 2736623 | 2809603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3, Class M2, 8.27%, 08/25/53 (b),(d),(e) | 222422 | 228285 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-LC18, Class D, 3.96%, 12/15/47 (b),(d),(e) | 992000 | 888824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C27, Class D, 3.77%, 02/15/48 (b),(d) | 2991000 | 1570559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-NXS4, Class D, 3.83%, 12/15/48 (b),(e) | 100000 | 96766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C32, Class D, 3.79%, 01/15/59 (b),(d),(e) | 465000 | 447975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-LC24, Class D, 3.21%, 10/15/49 (b),(d) | 4253000 | 3690503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-NXS5, Class E, 5.12%, 01/15/59 (b),(d),(e) | 100000 | 60122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C4, Class XD, 2.45%, 05/15/58 (b),(d),(e),(h) | 1000000 | 96876 |
| &nbsp;&nbsp;&nbsp;&nbsp; WMRK Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-WMRK, Class C, 1 mo. TSFR + 4.08%, 8.39%, 11/15/27 (b),(d),(e) | 2696000 | 2707822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-WMRK, Class D, 1 mo. TSFR + 4.93%, 9.24%, 11/15/27 (b),(d),(e) | 1000000 | 1005987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Worldwide Plaza Trust, Series 2017-WWP, Class F, 3.72%, 11/10/36 (b),(d),(e) | 109000 | 6638 |
|  |  | 103688419 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Interest Only Commercial Mortgage-Backed Securities — 2.1%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank5, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5YR11, Class XD, 2.53%, 11/15/57 (b),(d),(e),(h) | 1000000 | 88440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5YR5, Class XD, 3.24%, 02/15/29 (b),(d),(e),(h) | 1000000 | 96625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5YR14, Class XD, 2.50%, 04/15/58 (b),(d),(e),(h) | 1000000 | 97251 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBCMS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C16, Class XD, 2.33%, 06/15/55 (b),(d),(e),(h) | 4299000 | 531838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C34, Class XD, 2.78%, 05/15/58 (b),(d),(e),(h) | 1000000 | 110118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, Series 2023-V3, Class XD, 3.41%, 07/15/56 (b),(d),(e),(h) | 1000000 | 89335 |
| &nbsp;&nbsp;&nbsp;&nbsp; California Housing Finance Agency, Series X, 0.29%, 01/15/35 (b),(e),(h) | 14075399 | 207035 |
| &nbsp;&nbsp;&nbsp;&nbsp; CFK Trust, Series 2020-MF2, Class X, 0.89%, 03/15/39 (b),(d),(e),(h) | 19612000 | 195492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C7, Class XD, 1.30%, 12/15/72 (b),(d),(e),(h) | 5347000 | 306629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GC43, Class XD, 0.72%, 11/10/52 (b),(d),(e),(h) | 5918000 | 146109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage Trust, Series 2014-UBS4, Class XA,<br>0.91%, 08/10/47 (b),(e),(h) | 2108221 | 885 |
| &nbsp;&nbsp;&nbsp;&nbsp; CSAIL Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C2, Class XA, 0.42%, 06/15/57 (b),(e),(h) | 3383234 | 5589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C3, Class XA, 0.62%, 08/15/48 (b),(e),(h) | 19831576 | 8706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C18, Class XD, 1.54%, 12/15/52 (b),(d),(e),(h) | 4452333 | 229090 |
| &nbsp;&nbsp;&nbsp;&nbsp; DC Office Trust, Series 2019-MTC, Class X, 0.21%, 09/15/45 (b),(d),(e),(h) | 64579000 | 361836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 303, Class C28, 4.50%, 01/15/43 (h) | 8103180 | 1562480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4976, Class MI, 4.50%, 05/25/50 (h) | 12352394 | 2594904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5036, Class IB, 5.00%, 10/25/48 (h) | 9934277 | 2420675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5036, Class KI, 4.00%, 06/25/48 (h) | 14765971 | 2925316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5093, Class AI, 3.50%, 04/25/51 (h) | 10958500 | 1774839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5104, Class GI, 3.50%, 06/25/49 (h) | 8242084 | 1596566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5134, Class BI, 4.50%, 08/25/51 (h) | 15011389 | 3391433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5146, Class BI, 4.00%, 08/25/50 (h) | 19294585 | 3788743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5236, Class KI, 4.00%, 11/25/51 (h) | 25784657 | 5116140 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5322, Class DI, 3.00%, 10/25/51 (h) | $13603977 | $2117949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K049, Class X3, 1.62%, 10/25/43 (b),(e),(h) | 2177000 | 218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K061, Class X1, 0.28%, 11/25/26 (b),(e),(h) | 15264529 | 30407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K071, Class X1, 0.41%, 11/25/27 (b),(e),(h) | 84484013 | 455031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K085, Class X3, 2.39%, 12/25/45 (b),(e),(h) | 1000000 | 69264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K095, Class X3, 2.17%, 08/25/47 (b),(e),(h) | 9297000 | 701487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K102, Class X3, 1.96%, 12/25/46 (b),(e),(h) | 1000000 | 72453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K115, Class X3, 3.06%, 09/25/48 (b),(e),(h) | 1000000 | 122157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K118, Class X3, 2.78%, 10/25/48 (b),(e),(h) | 652000 | 74790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K119, Class X3, 2.82%, 09/25/48 (b),(e),(h) | 1525000 | 179485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K122, Class X3, 2.72%, 01/25/49 (b),(e),(h) | 1000000 | 115315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K128, Class X3, 2.88%, 04/25/31 (b),(e),(h) | 1000000 | 128903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K143, Class X3, 3.25%, 04/25/50 (b),(e),(h) | 1000000 | 168392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K154, Class X1, 0.43%, 11/25/32 (b),(e),(h) | 30270842 | 464869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KLU1, Class X3, 4.17%, 01/25/31 (b),(e),(h) | 11459422 | 1176000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KLU2, Class X1, 1.09%, 08/25/29 (b),(e),(h) | 54147154 | 1569239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KLU2, Class X3, 4.05%, 08/25/29 (b),(e),(h) | 8042142 | 731272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KS11, Class XFX, 1.75%, 06/25/29 (b),(e),(h) | 24677100 | 1146992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KW10, Class X3, 2.82%, 10/25/32 (b),(e),(h) | 5935000 | 586538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-41, Class GI, 4.00%, 10/15/44 (h) | 30109228 | 5653519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-65, Class JI, 4.00%, 09/25/50 (h) | 9996576 | 2116835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-67, Class GI, 3.50%, 10/25/51 (h) | 24722601 | 4301609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4, Class WI, 3.00%, 02/25/52 (h) | 26000576 | 2962376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 409, Class C14, 3.50%, 04/25/42 (h) | 11180339 | 1767176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 413, Class C35, 4.50%, 10/25/40 (h) | 9073408 | 1657122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-188, Class IB, 4.00%, 12/20/44 (h) | 10694194 | 1432915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-127, Class IY, 4.00%, 08/20/50 (h) | 10581066 | 2171743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-158, Class JI, 5.00%, 02/20/50 (h) | 10795955 | 2324499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-125, Class CI, 5.00%, 06/20/52 (h) | 18748951 | 3498160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-125, Class IO, 4.50%, 06/20/52 (h) | 23562439 | 4696135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-159, Class IA, 4.50%, 12/20/48 (h) | 15991420 | 2917507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-85, Class IB, 4.00%, 05/20/51 (h) | 17468541 | 3471925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-93, Class ID, 4.00%, 07/20/50 (h) | 14811369 | 2903606 |
| &nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. Trust, Series 2020-DUNE, Class XCP,<br>0.00%, 12/15/36 (b),(d),(e),(f),(h) | 15243000 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust, Series 2019-GC40, Class XD, 1.37%, 07/10/52 (b),(d),(e),(h) | 2219000 | 93083 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMDB Commercial Mortgage Securities Trust, Series 2019-COR6, Class XD,<br>1.55%, 11/13/52 (b),(d),(e),(h) | 4231000 | 223638 |
| &nbsp;&nbsp;&nbsp;&nbsp; MFT Mortgage Trust, Series 2020-ABC, Class XA, 0.23%, 02/10/42 (b),(d),(e),(h) | 20401000 | 123691 |
|  |  | 79872526 |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>U.S. Government Sponsored Agency Securities — 13.2%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 30 Year Maturity, 5.00%, 07/13/74 (l) | 140000000 | 137238220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 30 Year Maturity, 5.50%, 07/13/74 (l) | 171000000 | 170979993 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA, 30 Year Maturity, 6.50%, 08/12/72 (l) | $182000000 | $187637814 |
|  |  | 495856027 |
|  **Total North America** |  | **773972095** |
|  **TOTAL MORTGAGE-BACKED SECURITIES<br>(COST $791,475,891)** |  | **776854743** |
|  **U.S. TREASURY OBLIGATIONS — 0.7%** |  |  |
|  **North America — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 08/07/25 (f) | 12500000 | 12445391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 09/23/25 (f) | 12500000 | 12377289 |
|  **Total North America** |  | **24822680** |
|  **TOTAL U.S. TREASURY OBLIGATIONS<br>(COST $24,821,946)** |  | **24822680** |
|  | **Shares** |  |
|  **CLOSED-END FUND — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Pershing Square Holdings Ltd. | 715393 | 38441334 |
|  **TOTAL CLOSED-END FUND<br>(COST $37,687,962)** |  | **38441334** |
|  **EXCHANGE-TRADED FUNDS — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Select Sector SPDR Fund (b) | 62000 | 3246940 |
| &nbsp;&nbsp;&nbsp;&nbsp; SPDR Dow Jones International Real Estate ETF (b) | 45800 | 1254920 |
| &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P Insurance ETF (b) | 125 | 7468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Utilities Select Sector SPDR Fund (b) | 746 | 60918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vanguard Global ex-U.S. Real Estate ETF (b) | 130800 | 6036420 |
|  **TOTAL EXCHANGE-TRADED FUNDS<br>(COST $10,185,710)** |  | **10606666** |
|  **WARRANTS — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ATI Penny Warrant (a),(b) | 111184 | 1112 |
| &nbsp;&nbsp;&nbsp;&nbsp; ATI Warrant (a),(b) | 100595 | 0 |
|  **TOTAL WARRANTS<br>(COST $0)** |  | **1112** |
|  **INVESTMENTS IN INVESTEE FUNDS — 11.0%** |  |  |
|  **North America — 11.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aeolus Property Catastrophe Keystone PF Fund LP<br>(cost $7,165,756) (a),(m) | 3 | 10617791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asgard Fixed Income Risk Premia Fund<br>(cost $114,197,961) (a),(m) | 116686 | 169883347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Atreides Special Circumstances Fund, LLC<br>(cost $1,762,684) (a),(m) | 1 | 5217138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kirkoswald Global Macro Fund Ltd.<br>(cost $52,567,982) (a),(m) | 476987 | 52426581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rokos Global Macro Fund Ltd.<br>(cost $93,000,000) (a),(m) | 1 | 175836890 |
|  **Total North America** |  | **413981747** |
|  **TOTAL INVESTMENTS IN INVESTEE FUNDS<br>(COST $268,694,383)** |  | **413981747** |
|  **RIGHTS — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aduro Biotech, Inc. (a),(c) | 1040 | 0 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Gracell Biotechnologies, Inc. (a),(c) | 5000 | $0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pershing Square SPARC Holdings Ltd. (a),(c) | 505024 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pershing Square Tontine Holdings Ltd. (a),(c) | 2020101 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tectonic Therapeutic (a),(c) | 450 | 0 |
|  **TOTAL RIGHTS<br>(COST $0)** |  | **0** |
|  **TOTAL LONG-TERM INVESTMENTS<br>(COST $2,989,754,066)** |  | **3265068674** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Paid** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **PURCHASED OPTIONS — 0.9%** | **PURCHASED OPTIONS — 0.9%** | **PURCHASED OPTIONS — 0.9%** | **PURCHASED OPTIONS — 0.9%** | **PURCHASED OPTIONS — 0.9%** |  |  |  |
|  **Exchange-Traded Call Options — 0.3%** | **Exchange-Traded Call Options — 0.3%** | **Exchange-Traded Call Options — 0.3%** | **Exchange-Traded Call Options — 0.3%** | **Exchange-Traded Call Options — 0.3%** | **Exchange-Traded Call Options — 0.3%** | **Exchange-Traded Call Options — 0.3%** | **Exchange-Traded Call Options — 0.3%** |
|  NAT GAS EURO OPT JAN 26 | 6.00 USD | 12/26/25 | 25 | 150 | $95500 | $101350 | $5850 |
|  NAT GAS EURO OPT FEB 26 | 6.00 USD | 1/27/26 | 25 | 150 | 95500 | 105475 | 9975 |
|  NAT GAS EURO OPT MAR 26 | 6.00 USD | 2/24/26 | 25 | 150 | 95500 | 73250 | (22250) |
|  NAT GAS EURO OPT APR 26 | 6.00 USD | 3/26/26 | 25 | 150 | 95500 | 35125 | (60375) |
|  NAT GAS EURO OPT MAY 26 | 6.00 USD | 4/27/26 | 25 | 150 | 95500 | 28475 | (67025) |
|  NAT GAS EURO OPT JUN 26 | 6.00 USD | 5/26/26 | 25 | 150 | 95500 | 35550 | (59950) |
|  NAT GAS EURO OPT JUL 26 | 6.00 USD | 6/25/26 | 25 | 150 | 95500 | 47400 | (48100) |
|  NAT GAS EURO OPT AUG 26 | 6.00 USD | 7/28/26 | 25 | 150 | 95500 | 53600 | (41900) |
|  NAT GAS EURO OPT SEP 26 | 6.00 USD | 8/26/26 | 25 | 150 | 95500 | 53825 | (41675) |
|  NAT GAS EURO OPT OCT 26 | 6.00 USD | 9/25/26 | 25 | 150 | 95500 | 60475 | (35025) |
|  NAT GAS EURO OPT NOV 26 | 6.00 USD | 10/27/26 | 25 | 150 | 95500 | 82925 | (12575) |
|  NAT GAS EURO OPT DEC 26 | 6.00 USD | 11/24/26 | 25 | 150 | 95500 | 116925 | 21425 |
|  NAT GAS EURO OPT JAN 26 | 4.50 USD | 12/26/25 | 25 | 112 | 118250 | 214100 | 95850 |
|  NAT GAS EURO OPT FEB 26 | 4.50 USD | 1/27/26 | 25 | 112 | 118250 | 193800 | 75550 |
|  NAT GAS EURO OPT MAR 26 | 4.50 USD | 2/24/26 | 25 | 112 | 118250 | 138775 | 20525 |
|  NAT GAS EURO OPT APR 26 | 4.50 USD | 3/26/26 | 25 | 112 | 118250 | 89075 | (29175) |
|  NAT GAS EURO OPT MAY 26 | 4.50 USD | 4/27/26 | 25 | 112 | 118250 | 83600 | (34650) |
|  NAT GAS EURO OPT JUN 26 | 4.50 USD | 5/26/26 | 25 | 113 | 118250 | 100150 | (18100) |
|  NAT GAS EURO OPT JUL 26 | 4.50 USD | 6/25/26 | 25 | 113 | 118250 | 124575 | 6325 |
|  NAT GAS EURO OPT AUG 26 | 4.50 USD | 7/28/26 | 25 | 113 | 118250 | 134675 | 16425 |
|  NAT GAS EURO OPT SEP 26 | 4.50 USD | 8/26/26 | 25 | 113 | 118250 | 132425 | 14175 |
|  NAT GAS EURO OPT OCT 26 | 4.50 USD | 9/25/26 | 25 | 113 | 118250 | 142975 | 24725 |
|  NAT GAS EURO OPT NOV 26 | 4.50 USD | 10/27/26 | 25 | 113 | 118250 | 175350 | 57100 |
|  NAT GAS EURO OPT DEC 26 | 4.50 USD | 11/24/26 | 25 | 113 | 118250 | 231125 | 112875 |
|  SOYBEAN OIL DEC 25 | 50.00 USD | 11/21/25 | 31 | 1550 | 80373 | 101835 | 21462 |
|  LME Copper 3Mo Call | 10,500.00 USD | 12/03/25 | 60 | 630000 | 566667 | 391365 | (175302) |
|  LME Copper 3Mo Call | 12,500.00 USD | 12/03/25 | 50 | 625000 | 354372 | 48912 | (305460) |
|  California Carbon Allowance Vintage DEC 25 | 40.00 USD | 12/15/25 | 36 | 1440 | 131790 | 10296 | (121494) |
|  California Carbon Allowance Vintage DEC 25 | 45.00 USD | 12/15/25 | 1100 | 49500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1189552) |
|  NAT GAS EURO FUT JAN 26 | 50.00 EUR | 12/24/25 | 60 | 3000 | 328082 | 94861 | (233221) |
|  NAT GAS EURO FUT NOV 25 | 50.00 EUR | 10/27/25 | 60 | 3000 | 317499 | 57096 | (260403) |
|  NAT GAS EURO FUT MAR 26 | 50.00 EUR | 2/24/26 | 60 | 3000 | 327641 | 124351 | (203290) |
|  NAT GAS EURO FUT DEC 25 | 50.00 EUR | 11/26/25 | 60 | 3000 | 328082 | 79191 | (248891) |
|  NAT GAS EURO FUT FEB 26 | 50.00 EUR | 1/27/26 | 60 | 3000 | 296332 | 105011 | (191321) |
|  CRUDE OIL FUT DEC 25 | 110.00 USD | 11/17/25 | 100 | 11000 | 32367 | 19000 | (13367) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Paid** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CRUDE OIL FUT SEP 25 | 90.00 USD | 8/15/25 | 63 | 5670 | $113047 | $11340 | $(101707) |
|  California Carbon Allowance Vintage DEC 25 | 35.00 USD | 12/15/25 | 275 | 9625 | 580476 | 174625 | (405851) |
|  LME Copper 3Mo Call | 11,500.00 USD | 12/02/26 | 40 | 460000 | 503128 | 415120 | (88008) |
|  NAT GAS EURO OPT SEP 25 | 4.50 USD | 8/26/25 | 63 | 283 | 345890 | 45549 | (300341) |
|  SOYBEAN DEC 25 | 350.00 USD | 11/21/25 | 315 | 110250 | 194755 | 44100 | (150655) |
|  NAT GAS EURO OPT JUL 25 | 6.00 USD | 7/28/25 | 29 | 174 | 5885 | 1218 | (4667) |
|  SPX Index Option Call 28 7/1/25 | 28.00 USD | 7/16/25 | 1702 | 47656 | 247742 | 51060 | (196682) |
|  SOYBEAN OIL MAR 26 | 55.00 USD | 2/20/26 | 63 | 3465 | 117411 | 147798 | 30387 |
|  GOLD AUG 25 | 3,350.00 USD | 7/28/25 | 63 | 211050 | 448580 | 233100 | (215480) |
|  SPX Index Option Call 47.5 7/1/25 | 47.50 USD | 7/16/25 | 3404 | 161690 | 189124 | 34040 | (155084) |
|  LME Copper 3Mo Call (c) | 11,000.00 USD | 7/02/25 | 20 | 220000 | 6564 | 6500 | (64) |
|  LME Copper 3Mo Call | 11,500.00 USD | 6/03/26 | 40 | 460000 | 235128 | 265790 | 30662 |
|  LME Copper 3Mo Call | 10,500.00 USD | 6/03/26 | 60 | 630000 | 633192 | 729000 | 95808 |
|  NAT GAS EURO OPT AUG 25 | 3.75 USD | 7/28/25 | 21 | 79 | 56087 | 25473 | (30614) |
|  NAT GAS EURO OPT SEP 25 | 3.75 USD | 8/26/25 | 21 | 79 | 73727 | 45675 | (28052) |
|  CRUDE OIL FUT DEC 26 | 75.00 USD | 11/17/26 | 84 | 6300 | 204370 | 230160 | 25790 |
|  SILVER SEP 25 | 35.50 USD | 8/26/25 | 37 | 1313 | 436706 | 331335 | (105371) |
|  California Carbon Allowance Vintage DEC 25 | 32.00 USD | 12/15/25 | 660 | 21120 | 931141 | 759000 | (172141) |
|  S&P 500 Index | 9,000.00 USD | 12/18/26 | 4382 | 39438000 | 1741887 | 2541560 | 799673 |
|  CRUDE OIL FUT SEP 25 | 80.00 USD | 8/15/25 | 42 | 3360 | 34145 | 13440 | (20705) |
|  COTTON SEP 25 | 67.00 USD | 8/15/25 | 42 | 2814 | 45067 | 45780 | 713 |
|  NAT GAS EURO OPT AUG 25 | 5.50 USD | 7/28/25 | 2 | 11 | 385 | 128 | (257) |
|  SPX Index Option Call 26 7/1/25 | 26.00 USD | 7/16/25 | 700 | 18200 | 91392 | 25900 | (65492) |
|  NAT GAS EURO OPT JUL 25 | 6.50 USD | 7/28/25 | 203 | 1319 | 47192 | 5887 | (41305) |
|  ALUMINIUM SEP 25 | 2,600.00 USD | 9/03/25 | 80 | 208000 | 118256 | 154100 | 35844 |
|  NAT GAS EURO OPT SEP 25 | 6.00 USD | 9/01/25 | 2 | 12 | 365 | 274 | (91) |
|  NAT GAS EURO OPT AUG 25 | 5.00 USD | 7/28/25 | 2 | 10 | 355 | 216 | (139) |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14102354 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10107686 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3994668) |
|  **Exchange-Traded Put Options — 0.3%** | **Exchange-Traded Put Options — 0.3%** | **Exchange-Traded Put Options — 0.3%** |  |  |  |  |  |
|  California Carbon Allowance Vintage DEC 25 | 30.00 USD | 12/15/25 | 575 | 17250 | 1443721 | 1927400 | 483679 |
|  California Carbon Allowance Vintage DEC 25 | 25.00 USD | 12/15/25 | 2770 | 69250 | 6430871 | 3193810 | (3237061) |
|  LME Copper 3Mo Call | 8,000.00 USD | 12/03/25 | 60 | 480000 | 401347 | 66660 | (334687) |
|  SGX IRON ORE AUG 25 | 97.50 USD | 8/29/25 | 82 | 7995 | 58282 | 36162 | (22120) |
|  SGX IRON ORE JUL 25 | 97.50 USD | 7/31/25 | 82 | 7995 | 58281 | 27552 | (30729) |
|  SGX IRON ORE SEP 25 | 97.50 USD | 9/30/25 | 82 | 7995 | 58261 | 43378 | (14883) |
|  California Carbon Allowance Vintage DEC 25 | 20.00 USD | 12/15/25 | 1880 | 37600 | 2937942 | 1086640 | (1851302) |
|  LME Copper 3Mo Call | 8,500.00 USD | 12/03/25 | 40 | 340000 | 239128 | 95020 | (144108) |
|  NAT GAS EURO OPT SEP 25 | 3.25 USD | 8/26/25 | 267 | 868 | 303131 | 534801 | 231670 |
|  NAT GAS EURO OPT SEP 25 | 4.05 USD | 8/26/25 | 256 | 1037 | 1045988 | 1780736 | 734748 |
|  NAT GAS EURO OPT NOV 25 | 3.60 USD | 10/28/25 | 100 | 360 | 149292 | 295800 | 146508 |
|  NAT GAS EURO OPT NOV 25 | 2.90 USD | 10/28/25 | 200 | 580 | 92584 | 192000 | 99416 |
|  NAT GAS EURO OPT OCT 25 | 4.05 USD | 9/25/25 | 100 | 405 | 348292 | 688600 | 340308 |
|  LME Copper 3Mo Call | 8,500.00 USD | 12/02/26 | 40 | 340000 | 463128 | 374700 | (88428) |
|  NAT GAS EURO OPT AUG 25 | 3.25 USD | 7/28/25 | 10 | 33 | 16910 | 12850 | (4060) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Paid** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  SOYBEAN DEC 25 | 280.00 USD | 11/21/25 | 315 | 88200 | $208930 | $217350 | $8420 |
|  CRUDE OIL FUT SEP 25 | 55.00 USD | 8/15/25 | 50 | 2750 | 136588 | 28500 | (108088) |
|  LME Copper 3Mo Call (c) | 8,500.00 USD | 7/02/25 | 20 | 170000 | 7064 | 7885 | 821 |
|  LME Copper 3Mo Call | 8,500.00 USD | 6/03/26 | 40 | 340000 | 382128 | 250470 | (131658) |
|  LME Copper 3Mo Call | 8,000.00 USD | 6/03/26 | 60 | 480000 | 369192 | 234630 | (134562) |
|  E-Mini S&P 500 Index | 5,700.00 USD | 9/19/25 | 52 | 296400 | 314887 | 140400 | (174487) |
|  S&P 500 Index | 5,675.00 USD | 7/18/25 | 739 | 4193825 | 3342517 | 302990 | (3039527) |
|  CRUDE OIL FUT DEC 26 | 50.00 USD | 11/17/26 | 84 | 4200 | 304329 | 286440 | (17889) |
|  ALUMINIUM SEP 25 (c) | 2,100.00 USD | 9/03/25 | 80 | 168000 | 12256 | 8140 | (4116) |
|  PALLADIUM SEP 25 | 1,025.00 USD | 8/20/25 | 42 | 43050 | 128185 | 71820 | (56365) |
|  COTTON SEP 25 | 67.00 USD | 8/15/25 | 42 | 2814 | 38893 | 22050 | (16843) |
|  NAT GAS EURO OPT OCT 25 | 2.50 USD | 9/25/25 | 167 | 417 | 88998 | 88343 | (655) |
|  NAT GAS EURO OPT OCT 25 | 3.50 USD | 10/01/25 | 100 | 350 | 437192 | 347700 | (89492) |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19818317 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12362827 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7455490) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Counterparty** | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Paid** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **OTC Call Options — 0.2%** | **OTC Call Options — 0.2%** | **OTC Call Options — 0.2%** | **OTC Call Options — 0.2%** | **OTC Call Options — 0.2%** | **OTC Call Options — 0.2%** | **OTC Call Options — 0.2%** | **OTC Call Options — 0.2%** | **OTC Call Options — 0.2%** |
|  USD CNH FX Option Call 7.4 7/18/25 | Citibank N.A. | 7.40 USD | 7/18/25 | 1245000 | 9213000 | $117342 | $2574 | $(114768) |
|  SOFR Interest Rate Swaption Call 3.265 8/16/2034 | Bank Of America Merrill Lynch | 3.27 USD | 8/16/34 | 2500000 | 8162500 | 351000 | 143091 | (207909) |
|  SOFR Interest Rate Swaption Call 3.21 8/21/2034 | Bank Of America Merrill Lynch | 3.21 USD | 8/21/34 | 2500000 | 8025000 | 351875 | 137913 | (213962) |
|  SOFR Interest Rate Swaption Call 3.187 8/21/2034 | Barclays Bank PLC | 3.19 USD | 8/21/34 | 2500000 | 7967500 | 354625 | 135750 | (218875) |
|  SOFR Interest Rate Swaption Call 3.225 8/23/2034 | Bank Of America Merrill Lynch | 3.23 USD | 8/23/34 | 2500000 | 8062500 | 350000 | 139353 | (210647) |
|  SOFR Interest Rate Swaption Call 3.22 8/29/2029 | Bank Of America Merrill Lynch | 3.22 USD | 8/29/29 | 2500000 | 8050000 | 357500 | 141163 | (216337) |
|  SOFR Interest Rate Swaption Call 3.21 8/29/2029 | Bank Of America Merrill Lynch | 3.21 USD | 8/29/29 | 2500000 | 8025000 | 357500 | 139865 | (217635) |
|  XAG USD FX Option Call 35 12/29/25 | J.P. Morgan Securities LLC | 35.00 USD | 12/29/25 | 200000 | 7000000 | 652000 | 665409 | 13409 |
|  LME Copper 3Mo Call | Citibank N.A. | 12,500.00 USD | 3/04/26 | 3739 | 46737500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(295104) |
|  LME Copper 3Mo Call | Goldman Sachs & Co. | 12,500.00 USD | 3/04/26 | 2917 | 36462500 | 555688 | 286082 | (269606) |
|  LME Copper 3Mo Call | Morgan Stanley Capital Services LLC | 12,500.00 USD | 3/04/26 | 2992 | 37400000 | 523899 | 293438 | (230461) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Counterparty** | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Paid** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  SOFR Interest Rate Swaption Call 3.745 2/28/2034 | Deutsche Bank AG | 3.75 USD | 2/27/34 | 4000000 | 14980000 | $525000 | $308395 | $(216605) |
|  USD CNH FX Option Call 7.35 10/8/25 | J.P. Morgan Securities LLC | 7.35 USD | 10/08/25 | 20000000 | 147000000 | 44400 | 25236 | (19164) |
|  USD CNH FX Option Call 7.4 10/8/25 | J.P. Morgan Securities LLC | 7.40 USD | 10/08/25 | 10000000 | 74000000 | 145500 | 8746 | (136754) |
|  USD CNH FX Option Call 7.45 7/18/25 | Bank Of America Merrill Lynch | 7.45 USD | 7/18/25 | 30000000 | 223500000 | 119325 | 175 | (119150) |
|  XAU USD FX Option Call 3500 7/18/25 | J.P. Morgan Securities LLC | 3,500.00 USD | 7/18/25 | 1550 | 5425000 | 209250 | 6613 | (202637) |
|  XAU USD FX Option 3150/3250 8/20/25 | Citibank N.A. | 3,150.00 USD | 8/20/25 | 428000 | 1348200000 | 115560 | 44545 | (71015) |
|  Micron Technology, Inc. JUL 25 | Bank Of America Merrill Lynch | 85.00 USD | 7/18/25 | 30 | 2550 | 95370 | 114998 | 19628 |
|  NVIDIA Corp. SEP 25 | Bank Of America Merrill Lynch | 115.00 USD | 9/19/25 | 15 | 1725 | 51105 | 69063 | 17958 |
|  NVIDIA Corp. JAN 26 | Bank Of America Merrill Lynch | 160.00 USD | 1/16/26 | 45 | 7200 | 64455 | 91778 | 27323 |
|  XAG USD FX Option Call 37.5 12/18/25 | J.P. Morgan Securities LLC | 37.50 USD | 12/18/25 | 210000 | 7875000 | 625800 | 448182 | (177618) |
|  NVIDIA Corp. JAN 26 | Bank Of America Merrill Lynch | 115.00 USD | 1/16/26 | 10 | 1150 | 39140 | 50313 | 11173 |
|  LME Copper 3Mo Call | Goldman Sachs International | 12,000.00 USD | 6/03/26 | 7179 | 86148000 | 1418952 | 1430496 | 11544 |
|  NVIDIA Corp. JUL 25 | Bank Of America Merrill Lynch | 120.00 USD | 7/18/25 | 18 | 2160 | 44244 | 69557 | 25313 |
|  LME Copper 3Mo Call | Citibank N.A. | 12,000.00 USD | 6/03/26 | 2639 | 31668000 | 567385 | 525850 | (41535) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8698718 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5645284 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3053434) |
|  **OTC Put Options — 0.1%** | **OTC Put Options — 0.1%** | **OTC Put Options — 0.1%** | **OTC Put Options — 0.1%** |  |  |  |  |  |
|  SOFR Interest Rate Swaption Put 6.25 12/15/2025 | Barclays Bank PLC | 6.25 USD | 12/15/25 | 35000000 | 218750000 | 9625 | 14 | (9611) |
|  SOFR Interest Rate Swaption Put 3.265 8/16/2034 | Bank Of America Merrill Lynch | 3.27 USD | 8/16/34 | 2500000 | 8162500 | 351001 | 352348 | 1347 |
|  SOFR Interest Rate Swaption Put 3.21 8/21/2034 | Bank Of America Merrill Lynch | 3.21 USD | 8/21/34 | 2500000 | 8025000 | 351875 | 360189 | 8314 |
|  SOFR Interest Rate Swaption Put 5.375 10/16/2026 | Barclays Bank PLC | 5.38 USD | 12/16/26 | 5500000 | 29562500 | 7782 | 1865 | (5917) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Counterparty** | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional**<br> **Amount** | **Premium<br>Paid** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  SOFR Interest Rate Swaption Put 3.187 8/21/2034 | Barclays Bank PLC | 3.19 USD | 8/21/34 | 2500000 | 7967500 | $354625 | $363563 | $8938 |
|  SOFR Interest Rate Swaption Put 3.225 8/23/2034 | Bank Of America Merrill Lynch | 3.23 USD | 8/23/34 | 2500000 | 8062500 | 350000 | 357929 | 7929 |
|  SOFR Interest Rate Swaption Put 5.375 7/12/2027 | Barclays Bank PLC | 5.38 USD | 7/12/27 | 5500000 | 29562500 | 9295 | 4456 | (4839) |
|  SOFR Interest Rate Swaption Put 5.375 6/28/2027 | Barclays Bank PLC | 5.38 USD | 6/28/27 | 11050000 | 59393750 | 18343 | 8600 | (9743) |
|  SOFR Interest Rate Swaption Put 3.22 8/29/2029 | Bank Of America Merrill Lynch | 3.22 USD | 8/29/29 | 2500000 | 8050000 | 357500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423352 | 65852 |
|  SOFR Interest Rate Swaption Put 3.21 8/29/2029 | Bank Of America Merrill Lynch | 3.21 USD | 8/29/29 | 2500000 | 8025000 | 357500 | 425807 | 68307 |
|  SOFR Interest Rate Swaption Put 6 10/3/2025 | Barclays Bank PLC | 6.00 USD | 10/03/25 | 8250000 | 49500000 | 1155 | 0 | (1155) |
|  SOFR Interest Rate Swaption Put 6.25 10/3/2025 | Barclays Bank PLC | 6.25 USD | 10/03/25 | 11000000 | 68750000 | 1265 | 0 | (1265) |
|  XAU USD FX Option Put 2300 12/18/25 | Goldman Sachs<br> International | 2,300.00 USD | 12/18/25 | 21850000 | 50255000000 | 44032 | 32545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11487) |
|  USD TRY FX Option Put 37.2 7/9/25 | JP Morgan Chase Bank N.A. | 37.20 USD | 7/09/25 | 851000 | 31657200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106375 | 1069 | (105306) |
|  SOFR Interest Rate Swaption Put 3.745 2/28/2034 | Deutsche Bank AG | 3.75 USD | 2/27/34 | 4000000 | 14980000 | 525000 | 466345 | (58655) |
|  USD JPY FX Option Put 139 8/261/25 | Bank Of America Merrill Lynch | 139.00 USD | 8/26/25 | 2000000 | 278000000 | 13980 | 13522 | (458) |
|  USD JPY FX Option Put 140 9/25/25 | Bank Of America Merrill Lynch | 140.00 USD | 9/25/25 | 2000000 | 280000000 | 20952 | 25810 | 4858 |
|  FTSE100 Index Put 8055.46 9/9/25 | Citibank N.A. | 8,055.46 GBP | 9/19/25 | 2008 | 16175364 | 63313 | 19576 | (43737) |
|  S&P 500 Index | JP Morgan Chase Bank N.A. | 5,335.87 USD | 9/19/25 | 7576 | 40424551 | 280843 | 41267 | (239576) |
|  EURO STOXX 50 PR Index Option Put 4971.35 9/19/25 | Citibank N.A. | 4,971.35 EUR | 9/19/25 | 4907 | 24394414 | 258329 | 186171 | (72158) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Counterparty** | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional**<br> **Amount** | **Premium<br>Paid** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CDX IG44 Credit Swaption Put 67.5 1/1/2038 | Goldman Sachs & Co. | 67.50 USD | 9/17/25 | 3101750000 | 209368125000 | $3838415 | $2149602 | $(1688813) |
|  |  |  |  |  |  | $7321205 | $5234030 | $(2087175) |
|  **Total Purchased Options Outstanding** | **Total Purchased Options Outstanding** | **Total Purchased Options Outstanding** | **Total Purchased Options Outstanding** | **Total Purchased Options Outstanding** | **Total Purchased Options Outstanding** | $49940594 | $33349827 | $(16590767) |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
|  **REPURCHASE AGREEMENTS(n) — 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 11/28/2024, due On Demand (collateralized by Bahrain International Bond, 5.45% due 09/16/2032, market value $1,184,146) (o) | 1233853 | $1233853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 11/28/2024, due On Demand (collateralized by Bahrain International Bond, 5.45% due 09/16/2032, market value $688,586) (o) | 717492 | 717492 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 4.10%, dated 01/07/2025, due 07/31/2025 (collateralized by Bahrain International Bond, 5.45% due 09/16/2032, market value $1,183,218) | 1251205 | 1251205 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 4.10%, dated 01/07/2025, due 07/31/2025 (collateralized by Bahrain International Bond, 5.45% due 09/16/2032, market value $688,586) | 728152 | 728152 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 0.00%, dated 01/23/2025, due 07/31/2025 (collateralized by Sisecam U.K. PLC, 8.63% due 05/02/2032, market value $710,463) | 749884 | 749884 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 0.00%, dated 01/23/2025, due 07/31/2025 (collateralized by Sisecam U.K. PLC, 8.63% due 05/02/2032, market value $1,216,782) | 1284296 | 1284296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup Global Markets Limited, 1.00%, dated 01/30/2025, due 05/02/2032 (collateralized by Sisecam U.K. PLC, 8.63% due 05/02/2032, market value $1,217,792) | 1299111 | 1299111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 1.45%, dated 01/30/2025, due On Demand (collateralized by Sisecam U.K. PLC, 8.63% due 05/02/2032, market value $711,474) (o) | 744534 | 744534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 1.45%, dated 02/10/2025, due On Demand (collateralized by Sisecam U.K. PLC, 8.63% due 05/02/2032, market value $509,350) (o) | 535409 | 535409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 1.45%, dated 02/10/2025, due On Demand (collateralized by Sisecam U.K. PLC, 8.63% due 05/02/2032, market value $301,164) (o) | 316571 | 316571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.05%, dated 03/10/2025, due On Demand (collateralized by Sasol Financing USA LLC, 4.38% due 09/18/2026, market value $460,590) (o) | 475747 | 475747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 1.45%, dated 03/13/2025, due On Demand (collateralized by Sisecam U.K. PLC, 8.63% due 05/02/2032, market value $348,663) (o) | 372145 | 372145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 1.45%, dated 03/13/2025, due On Demand (collateralized by Sisecam U.K. PLC, 8.63% due 05/02/2032, market value $202,123) (o) | 215736 | 215736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 03/17/2025, due On Demand (collateralized by Saudi Arabia International Bond, 5.38% due 01/13/2031, market value $1,164,055) (o) | 1183959 | 1183959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 03/17/2025, due On Demand (collateralized by Saudi Arabia International Bond, 5.38% due 01/13/2031, market value $681,019) (o) | 692663 | 692663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.95%, dated 03/26/2025, due On Demand (collateralized by Bahrain International Bond, 5.88% due 06/05/2032, market value $2,794,099) (o) | 2940668 | 2940668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.95%, dated 03/26/2025, due On Demand (collateralized by Bahrain International Bond, 5.88% due 06/05/2032, market value $1,634,888) (o) | 1720648 | 1720648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.90%, dated 04/03/2025, due On Demand (collateralized by Bahrain International Bond, 5.88% due 06/05/2032, market value $513,651) (o) | 541607 | 541607 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.90%, dated 04/03/2025, due On Demand (collateralized by Bahrain International Bond, 5.88% due 06/05/2032, market value $885,398) (o) | 933587 | 933587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.75%, dated 04/07/2025, due On Demand (collateralized by Bahrain International Bond, 6.00% due 02/12/2031, market value $1,033,445) (o) | 1059138 | 1059138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.75%, dated 04/07/2025, due On Demand (collateralized by Bahrain International Bond, 6.00% due 02/12/2031, market value $603,095) (o) | 618089 | 618089 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.75%, dated 04/07/2025, due On Demand (collateralized by Bahrain International Bond, 6.00% due 02/12/2031, market value $516,217) (o) | 529562 | $529562 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.75%, dated 04/07/2025, due On Demand (collateralized by Bahrain International Bond, 6.00% due 02/12/2031, market value $302,053) (o) | 309861 | 309861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.75%, dated 04/08/2025, due On Demand (collateralized by Bahrain International Bond, 6.00% due 02/12/2031, market value $1,033,445) (o) | 1065909 | 1065909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.75%, dated 04/08/2025, due On Demand (collateralized by Bahrain International Bond, 6.00% due 02/12/2031, market value $603,095) (o) | 622041 | 622041 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.90%, dated 04/08/2025, due On Demand (collateralized by Bahrain International Bond, 5.88% due 06/05/2032, market value $543,630) (o) | 562884 | 562884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.75%, dated 04/10/2025, due On Demand (collateralized by Bahrain International Bond, 5.88% due 06/05/2032, market value $597,593) (o) | 617173 | 617173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.75%, dated 04/10/2025, due On Demand (collateralized by Bahrain International Bond, 5.88% due 06/05/2032, market value $478,674) (o) | 494368 | 494368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.05%, dated 04/14/2025, due On Demand (collateralized by The National Copper Corporation of Chile, 6.44% due 01/26/2036, market value $3,637,063) (o) | 3653020 | 3653020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.05%, dated 04/14/2025, due On Demand (collateralized by The National Copper Corporation of Chile, 6.44% due 01/26/2036, market value $2,124,496) (o) | 2133817 | 2133817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 04/23/2025, due On Demand (collateralized by Mexican International Bond, 6.35% due 02/09/2035, market value $5,793,097) (o) | 5821123 | 5821123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 04/23/2025, due On Demand (collateralized by Mexican International Bond, 6.35% due 02/09/2035, market value $3,383,733) (o) | 3400103 | 3400103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 04/23/2025, due On Demand (collateralized by Mexican International Bond, 7.38% due 05/13/2055, market value $1,849,148) (o) | 1853014 | 1853014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 04/23/2025, due On Demand (collateralized by Mexican International Bond, 7.38% due 05/13/2055, market value $3,165,403) (o) | 3172021 | 3172021 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 04/25/2025, due On Demand (collateralized by Saudi Arabia International Bond, 5.38% due 01/13/2031, market value $3,187,416) (o) | 3290922 | 3290922 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 04/25/2025, due On Demand (collateralized by Saudi Arabia International Bond, 5.38% due 01/13/2031, market value $1,860,622) (o) | 1921042 | 1921042 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 4.00%, dated 05/02/2025, due 07/31/2025 (collateralized by Dominican Republic International Bond, 6.00% due 02/22/2033, market value $598,745) | 627259 | 627259 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 4.00%, dated 05/02/2025, due 07/31/2025 (collateralized by Dominican Republic International Bond, 6.00% due 02/22/2033, market value $349,186) | 365815 | 365815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merrill Lynch, Pierce, Fenner & Smith, Inc., 4.30%, dated 05/02/2025, due 08/05/2025 (collateralized by US Treasury Notes, 2.13% due 01/15/2035, market value $1,422,840) | 1436750 | 1436750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.00%, dated 05/06/2025, due On Demand (collateralized by Bahrain International Bond, 7.50% due 07/07/2037, market value $952,655) (o) | 964306 | 964306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.00%, dated 05/06/2025, due On Demand (collateralized by Bahrain International Bond, 7.50% due 07/07/2037, market value $1,635,576) (o) | 1655580 | 1655580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.00%, dated 05/07/2025, due On Demand (collateralized by Bahrain International Bond, 7.50% due 07/07/2037, market value $409,147) (o) | 415698 | 415698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.00%, dated 05/07/2025, due On Demand (collateralized by Bahrain International Bond, 7.50% due 07/07/2037, market value $238,416) (o) | 242234 | 242234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup Global Markets Limited, 3.90%, dated 05/13/2025, due 05/17/2031 (collateralized by African Export Import Bank, 3.80% due 05/17/2031, market value $349,774) | 380903 | 380903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup Global Markets Limited, 4.10%, dated 05/13/2025, due 02/09/2035 (collateralized by Mexican International Bond, 6.35% due 02/09/2035, market value $663,878) | 687310 | 687310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 05/13/2025, due On Demand (collateralized by Mexican International Bond, 6.35% due 02/09/2035, market value $357,473) (o) | 363282 | 363282 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.50%, dated 05/15/2025, due On Demand (collateralized by Sisecam U.K. PLC, 8.25% due 05/02/2029, market value $286,389) (o) | 296310 | 296310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.50%, dated 05/15/2025, due On Demand (collateralized by Sisecam U.K. PLC, 8.25% due 05/02/2029, market value $202,395) (o) | 209406 | 209406 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.00%, dated 05/21/2025, due On Demand (collateralized by Bahrain International Bond, 7.50% due 07/07/2037, market value $1,022,361) (o) | 1039299 | $1039299 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.00%, dated 05/21/2025, due On Demand (collateralized by Bahrain International Bond, 7.50% due 07/07/2037, market value $595,030) (o) | 604888 | 604888 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 3.85%, dated 06/04/2025, due 07/07/2025 (collateralized by African Export Import Bank, 3.80% due 05/17/2031, market value $419,729) | 444346 | 444346 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 3.85%, dated 06/04/2025, due 07/07/2025 (collateralized by African Export Import Bank, 3.80% due 05/17/2031, market value $244,410) | 258745 | 258745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.85%, dated 06/04/2025, due 07/07/2025 (collateralized by African Export Import Bank, 3.80% due 05/17/2031, market value $532,866) | 556862 | 556862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.85%, dated 06/04/2025, due 07/07/2025 (collateralized by African Export Import Bank, 3.80% due 05/17/2031, market value $513,866) | 537006 | 537006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 06/04/2025, due On Demand (collateralized by Israel International Bond, 5.63% due 02/19/2035, market value $4,622,910) (o) | 4689295 | 4689295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 06/04/2025, due On Demand (collateralized by Israel International Bond, 5.63% due 02/19/2035, market value $2,699,153) (o) | 2737913 | 2737913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.85%, dated 06/04/2025, due 07/07/2025 (collateralized by African Export Import Bank, 3.99% due 09/21/2029, market value $1,032,188) | 1066445 | 1066445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 3.85%, dated 06/04/2025, due 07/07/2025 (collateralized by African Export Import Bank, 3.99% due 09/21/2029, market value $641,333) | 662618 | 662618 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 4.05%, dated 06/18/2025, due 07/31/2025 (collateralized by African Export Import Bank, 3.99% due 09/21/2029, market value $641,333) | 673307 | 673307 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A., 4.05%, dated 06/18/2025, due 07/31/2025 (collateralized by African Export Import Bank, 3.99% due 09/21/2029, market value $1,032,188) | 1083648 | 1083648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 05/14/2025, due On Demand (collateralized by Mexican International Bond, 6.88% due 05/13/2037, market value $2,449,405) (o) | 2442674 | 2442674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 05/14/2025, due On Demand (collateralized by Mexican International Bond, 6.88% due 05/13/2037, market value $3,804,395) (o) | 3793941 | 3793941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 04/30/2025, due On Demand (collateralized by Mexican International Bond, 6.88% due 05/13/2037, market value $1,250,760) (o) | 1274223 | 1274223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.10%, dated 04/30/2025, due On Demand (collateralized by Mexican International Bond, 6.88% due 05/13/2037, market value $833,840) (o) | 849482 | 849482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.05%, dated 03/14/2025, due On Demand (collateralized by Sasol Financing USA LLC, 4.38% due 09/18/2026, market value $840,478) (o) | 869741 | 869741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.05%, dated 03/14/2025, due On Demand (collateralized by Sasol Financing USA LLC, 4.38% due 09/18/2026, market value $845,398) (o) | 874833 | 874833 |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital, Inc., 4.05%, dated 03/10/2025, due On Demand (collateralized by Sasol Financing USA LLC, 4.38% due 09/18/2026, market value $1,378,816) (o) | 1424190 | 1424190 |
|  **TOTAL REPURCHASE AGREEMENTS<br>(COST $82,589,663)** | **82589663** | **82589663** |
|  **TOTAL INVESTMENTS IN SECURITIES — 90.0%<br>(COST $3,122,284,323)** | **TOTAL INVESTMENTS IN SECURITIES — 90.0%<br>(COST $3,122,284,323)** | **3381008164** |
|  **TOTAL SECURITIES SOLD SHORT — (23.5)%<br>(PROCEEDS $832,318,432)** | **TOTAL SECURITIES SOLD SHORT — (23.5)%<br>(PROCEEDS $832,318,432)** | **(882528759)** |
|  **Other Assets and Liabilities(p) — 33.5%** | **Other Assets and Liabilities(p) — 33.5%** | **1257052300** |
|  **Net Assets — 100.0%** | **Net Assets — 100.0%** | $**3755531705** |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
|  **SECURITIES SOLD SHORT — (23.5)%** |  |  |
|  **COMMON STOCK — (17.6)%** |  |  |
|  **Africa — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Harmony Gold Mining Co. Ltd., ADR | 5400 | $(75438) |
| &nbsp;&nbsp;&nbsp;&nbsp; IAMGOLD Corp. (a) | 400 | (2940) |
|  |  | (78378) |
|  **Total Africa** |  | **(78378)** |
|  **Asia — (0.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Automobiles & Components — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ECARX Holdings, Inc. (a) | 47 | (96) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ezgo Technologies Ltd. (a) | 20 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp; Honda Motor Co. Ltd., ADR | 12800 | (369024) |
| &nbsp;&nbsp;&nbsp;&nbsp; Li Auto, Inc., ADR (a) | 11500 | (311765) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lotus Technology, Inc., ADR (a) | 300 | (660) |
| &nbsp;&nbsp;&nbsp;&nbsp; NIO, Inc., ADR (a) | 221000 | (758030) |
| &nbsp;&nbsp;&nbsp;&nbsp; Polestar Automotive Holding U.K. PLC, ADR (a) | 2240 | (2397) |
| &nbsp;&nbsp;&nbsp;&nbsp; Toyota Motor Corp., ADR | 13500 | (2325510) |
| &nbsp;&nbsp;&nbsp;&nbsp; WeRide, Inc., ADR (a) | 1000 | (7880) |
| &nbsp;&nbsp;&nbsp;&nbsp; ZEEKR Intelligent Technology Holding Ltd., ADR (a) | 4300 | (109650) |
|  |  | (3885018) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Banks — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc., ADR | 69600 | (954912) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc., ADR | 27000 | (407970) |
|  |  | (1362882) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BAIYU Holdings, Inc. (a),(c) | 5388 | (964) |
| &nbsp;&nbsp;&nbsp;&nbsp; EHang Holdings Ltd., ADR (a) | 3000 | (52080) |
| &nbsp;&nbsp;&nbsp;&nbsp; Emeren Group Ltd., ADR (a) | 5400 | (10098) |
| &nbsp;&nbsp;&nbsp;&nbsp; FBS Global Ltd. (a) | 500 | (304) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inlif Ltd. (a) | 50 | (58) |
|  |  | (63504) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial & Professional Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Earlyworks Co., Ltd., ADR (a) | 40 | (72) |
| &nbsp;&nbsp;&nbsp;&nbsp; Guardforce AI Co., Ltd. (a) | 2500 | (2875) |
|  |  | (2947) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Durables & Apparel — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Neo-Concept International Group Holdings Ltd. (a) | 7 | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BTC Digital Ltd. (a) | 36 | (112) |
| &nbsp;&nbsp;&nbsp;&nbsp; Color Star Technology Co. Ltd. (a) | 200 | (174) |
| &nbsp;&nbsp;&nbsp;&nbsp; E-Home Household Service Holdings Ltd. (a) | 800 | (2040) |
| &nbsp;&nbsp;&nbsp;&nbsp; Genius Group Ltd. (a) | 23292 | (31677) |
| &nbsp;&nbsp;&nbsp;&nbsp; Golden Sun Health Technology Group Ltd. (a) | 400 | (952) |
| &nbsp;&nbsp;&nbsp;&nbsp; Quantasing Group Ltd., ADR (a) | 1700 | (16065) |
| &nbsp;&nbsp;&nbsp;&nbsp; TAL Education Group, ADR (a) | 3400 | (34748) |
| &nbsp;&nbsp;&nbsp;&nbsp; TCTM Kids IT Education, Inc., ADR (a) | 18 | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Youdao, Inc., ADR (a) | 2300 | (19780) |
|  |  | (105566) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AGM Group Holdings, Inc. (a) | 100 | $(233) |
| &nbsp;&nbsp;&nbsp;&nbsp; Garden Stage Ltd. (a) | 1627 | (2522) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kaspi.KZ JSC, ADR | 100 | (8489) |
| &nbsp;&nbsp;&nbsp;&nbsp; mF International Ltd. (a) | 2300 | (13938) |
| &nbsp;&nbsp;&nbsp;&nbsp; Triller Group, Inc. (a) | 21 | (20) |
|  |  | (25202) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food, Beverage & Tobacco — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Origin Agritech Ltd. (a) | 674 | (687) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Health Care Equipment & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jin Medical International Ltd. (a) | 300 | (193) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Household & Personal Products — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Yatsen Holding Ltd., ADR (a) | 4220 | (40681) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Insurance — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Huize Holding Ltd., ADR (a) | 100 | (209) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; POSCO Holdings, Inc., ADR | 200 | (9698) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tantech Holdings Ltd. (a) | 240 | (470) |
|  |  | (10168) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AirNet Technology, Inc. (a) | 1000 | (630) |
| &nbsp;&nbsp;&nbsp;&nbsp; Autohome, Inc., ADR | 900 | (23211) |
| &nbsp;&nbsp;&nbsp;&nbsp; Baidu, Inc., ADR (a) | 40300 | (3456128) |
| &nbsp;&nbsp;&nbsp;&nbsp; Blue Hat Interactive Entertainment Technology (a) | 42 | (73) |
| &nbsp;&nbsp;&nbsp;&nbsp; Everbright Digital Holding Ltd. (a) | 1473 | (8823) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fangdd Network Group Ltd. (a) | 100 | (212) |
| &nbsp;&nbsp;&nbsp;&nbsp; GD Culture Group Ltd. (a) | 3000 | (11280) |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Mofy AI Ltd. (a) | 100 | (258) |
| &nbsp;&nbsp;&nbsp;&nbsp; Haoxi Health Technology Ltd. (a) | 200 | (256) |
| &nbsp;&nbsp;&nbsp;&nbsp; QMMM Holdings Ltd. (a) | 7600 | (10640) |
| &nbsp;&nbsp;&nbsp;&nbsp; Smart Digital Group Ltd. (a) | 97 | (1106) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sohu.com Ltd., ADR (a) | 300 | (3993) |
| &nbsp;&nbsp;&nbsp;&nbsp; Webtoon Entertainment, Inc. (a) | 1200 | (10896) |
| &nbsp;&nbsp;&nbsp;&nbsp; WiMi Hologram Cloud, Inc. (a) | 10 | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp; Zhihu, Inc., ADR (a) | 5666 | (22551) |
|  |  | (3550085) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals, Biotechnology & Life Sciences — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dr. Reddy's Laboratories Ltd., ADR | 4700 | (70641) |
| &nbsp;&nbsp;&nbsp;&nbsp; Scilex Holding Co. (a) | 318 | (1873) |
| &nbsp;&nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd., ADR | 8900 | (137594) |
|  |  | (210108) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate Management & Development — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; KE Holdings, Inc., ADR | 85700 | (1520318) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retailing — (0.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd., ADR (b) | 1033 | (117153) |
| &nbsp;&nbsp;&nbsp;&nbsp; GigaCloud Technology, Inc. (a) | 9700 | (191866) |
| &nbsp;&nbsp;&nbsp;&nbsp; NaaS Technology, Inc., ADR (a) | 1000 | (800) |
| &nbsp;&nbsp;&nbsp;&nbsp; PDD Holdings, Inc., ADR (a) | 67500 | (7064550) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Uxin Ltd., ADR (a) | 1288 | $(4740) |
|  |  | (7379109) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Semiconductors & Semiconductor Equipment — (0.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Advantest Corp. (b) | 100 | (7413) |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc. (a) | 9800 | (335062) |
| &nbsp;&nbsp;&nbsp;&nbsp; ASE Technology Holding Co. Ltd., ADR | 17900 | (184907) |
| &nbsp;&nbsp;&nbsp;&nbsp; Daqo New Energy Corp., ADR (a) | 19100 | (289747) |
| &nbsp;&nbsp;&nbsp;&nbsp; indie Semiconductor, Inc. (a) | 5100 | (18156) |
| &nbsp;&nbsp;&nbsp;&nbsp; JinkoSolar Holding Co. Ltd., ADR | 9900 | (210078) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kioxia Holdings Corp. (a),(b) | 1600 | (27841) |
| &nbsp;&nbsp;&nbsp;&nbsp; STMicroelectronics NV (b) | 1140 | (34667) |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., ADR (b) | 28421 | (6437072) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tokyo Electron Ltd. (b) | 3600 | (689433) |
|  |  | (8234376) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BIT Mining Ltd., ADR (a) | 50 | (103) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bit Origin Ltd. (a) | 1600 | (253) |
| &nbsp;&nbsp;&nbsp;&nbsp; Datasea, Inc. (a) | 33 | (64) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kingsoft Cloud Holdings Ltd., ADR (a) | 3000 | (37560) |
| &nbsp;&nbsp;&nbsp;&nbsp; Link Motion, Inc., ADR (a),(c) | 11000 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mercurity Fintech Holding, Inc. (a) | 1300 | (5005) |
| &nbsp;&nbsp;&nbsp;&nbsp; MMTEC, Inc. (a) | 1295 | (1373) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nukkleus, Inc. (a) | 700 | (7651) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pony AI, Inc., ADR (a) | 5300 | (69960) |
| &nbsp;&nbsp;&nbsp;&nbsp; Trident Digital Tech Holdings Ltd., ADR (a) | 5600 | (1356) |
| &nbsp;&nbsp;&nbsp;&nbsp; Xiao I Corp., ADR (a) | 1200 | (3432) |
| &nbsp;&nbsp;&nbsp;&nbsp; Xunlei Ltd., ADR (a) | 400 | (1620) |
|  |  | (128377) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Technology Hardware & Equipment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fabrinet (a) | 1900 | (559892) |
| &nbsp;&nbsp;&nbsp;&nbsp; UTime Ltd. (a) | 588 | (564) |
|  |  | (560456) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunication Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FingerMotion, Inc. (a) | 25 | (51) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Primega Group Holdings Ltd. (a) | 100 | (78) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryde Group Ltd. (a) | 3743 | (1123) |
| &nbsp;&nbsp;&nbsp;&nbsp; Shengfeng Development Ltd. (a) | 400 | (400) |
| &nbsp;&nbsp;&nbsp;&nbsp; ZTO Express Cayman, Inc., ADR | 9300 | (165075) |
|  |  | (166676) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Utilities — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ReNew Energy Global PLC (a) | 3200 | (22112) |
|  **Total Asia** |  | **(27268741)** |
|  **Europe — (0.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Automobiles & Components — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aptiv PLC (a) | 20600 | (1405332) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG (a),(b) | 64 | (5700) |
|  |  | (1411032) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Banks — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC, ADR | 64500 | $(1199055) |
| &nbsp;&nbsp;&nbsp;&nbsp; ING Groep NV, ADR | 47100 | (1030077) |
| &nbsp;&nbsp;&nbsp;&nbsp; ING Groep NV (b) | 439 | (9622) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, ADR | 85200 | (362100) |
| &nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC, ADR | 10300 | (145745) |
|  |  | (2746599) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ABB Ltd. (b) | 4181 | (250562) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alfa Laval AB (b) | 456 | (19206) |
| &nbsp;&nbsp;&nbsp;&nbsp; Daimler Truck Holding AG (b) | 445 | (21113) |
| &nbsp;&nbsp;&nbsp;&nbsp; Epiroc AB (b) | 1326 | (28854) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fusion Fuel Green PLC, A Shares (a) | 400 | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp; Geberit AG (a),(b) | 103 | (81117) |
| &nbsp;&nbsp;&nbsp;&nbsp; Knorr-Bremse AG (b) | 224 | (21727) |
| &nbsp;&nbsp;&nbsp;&nbsp; MTU Aero Engines AG (b) | 87 | (38650) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rexel SA (b) | 343 | (10579) |
| &nbsp;&nbsp;&nbsp;&nbsp; Siemens Energy AG (a),(b) | 800 | (93505) |
| &nbsp;&nbsp;&nbsp;&nbsp; SKF AB (a),(b) | 1382 | (31745) |
| &nbsp;&nbsp;&nbsp;&nbsp; Spirax Group PLC (b) | 79 | (6460) |
| &nbsp;&nbsp;&nbsp;&nbsp; T1 Energy, Inc. (a) | 5000 | (6150) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vat Group AG (a),(b),(d) | 90 | (38136) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vestas Wind Systems AS (b) | 3513 | (52769) |
| &nbsp;&nbsp;&nbsp;&nbsp; Wallbox NV (a) | 3300 | (1048) |
| &nbsp;&nbsp;&nbsp;&nbsp; Wartsila OYJ Abp (b) | 1410 | (33324) |
|  |  | (735025) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial & Professional Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bureau Veritas SA (b) | 680 | (23210) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cimpress PLC (a) | 800 | (37600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Randstad NV (a),(b) | 319 | (14744) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rentokil Initial PLC, ADR | 3400 | (81600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Securitas AB (b) | 432 | (6468) |
| &nbsp;&nbsp;&nbsp;&nbsp; SGS SA (b) | 307 | (31171) |
| &nbsp;&nbsp;&nbsp;&nbsp; WNS Holdings Ltd. (a) | 500 | (31620) |
|  |  | (226413) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Durables & Apparel — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Birkenstock Holding PLC (a) | 11500 | (565570) |
| &nbsp;&nbsp;&nbsp;&nbsp; Connexa Sports Technologies In (a) | 1 | (1) |
|  |  | (565571) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Services — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Flutter Entertainment PLC (a) | 11900 | (3400544) |
| &nbsp;&nbsp;&nbsp;&nbsp; Soho House & Co., Inc., A Shares (a) | 2500 | (18375) |
|  |  | (3418919) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financials — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Bank AG | 36500 | (1068720) |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Boerse AG (b) | 24 | (7841) |
| &nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG | 47265 | (1598502) |
|  |  | (2675063) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Energy — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ardmore Shipping Corp. | 5300 | (50880) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Eni SpA (b) | 1317 | $(21275) |
| &nbsp;&nbsp;&nbsp;&nbsp; Frontline PLC | 300 | (4923) |
| &nbsp;&nbsp;&nbsp;&nbsp; Seadrill Ltd. (a) | 21100 | (553875) |
| &nbsp;&nbsp;&nbsp;&nbsp; SFL Corp. Ltd. | 1100 | (9163) |
| &nbsp;&nbsp;&nbsp;&nbsp; TotalEnergies SE (b) | 6938 | (424069) |
|  |  | (1064185) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food & Staples Retailing — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV (b) | 1228 | (51289) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food, Beverage & Tobacco — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch InBev SA, ADR | 5000 | (343600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch InBev SA (b) | 562 | (38666) |
| &nbsp;&nbsp;&nbsp;&nbsp; Danone SA (b) | 817 | (66850) |
| &nbsp;&nbsp;&nbsp;&nbsp; Diageo PLC, ADR | 2200 | (221848) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pernod Ricard SA (b) | 470 | (46883) |
|  |  | (717847) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Health Care Equipment & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; EssilorLuxottica SA (b) | 238 | (65353) |
| &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke Philips NV | 20204 | (484492) |
| &nbsp;&nbsp;&nbsp;&nbsp; OneMedNet Corp. (a) | 4769 | (2719) |
| &nbsp;&nbsp;&nbsp;&nbsp; Siemens Healthineers AG (b),(d) | 1663 | (92320) |
| &nbsp;&nbsp;&nbsp;&nbsp; Smith & Nephew PLC, ADR | 14800 | (453324) |
|  |  | (1098208) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Insurance — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allianz SE (b) | 28 | (11363) |
| &nbsp;&nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (b) | 26 | (16883) |
|  |  | (28246) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ArcelorMittal SA | 13900 | (438962) |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas Lithium Corp. (a) | 3300 | (12474) |
| &nbsp;&nbsp;&nbsp;&nbsp; BASF SE (b) | 1966 | (97237) |
| &nbsp;&nbsp;&nbsp;&nbsp; Critical Metals Corp. (a) | 900 | (3222) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lifezone Metals Ltd. (a) | 400 | (1648) |
|  |  | (553543) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Manchester United PLC (a) | 700 | (12467) |
| &nbsp;&nbsp;&nbsp;&nbsp; WPP PLC, ADR | 4700 | (164547) |
|  |  | (177014) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals, Biotechnology & Life Sciences — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Abivax SA, ADR (a) | 300 | (2295) |
| &nbsp;&nbsp;&nbsp;&nbsp; ADC Therapeutics SA (a) | 309 | (828) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alvotech SA (a) | 1400 | (12768) |
| &nbsp;&nbsp;&nbsp;&nbsp; Autolus Therapeutics PLC, ADR (a) | 1200 | (2736) |
| &nbsp;&nbsp;&nbsp;&nbsp; BioNTech SE, ADR (a) | 8100 | (862407) |
| &nbsp;&nbsp;&nbsp;&nbsp; Galapagos NV, ADR (a) | 400 | (11196) |
| &nbsp;&nbsp;&nbsp;&nbsp; Immatics NV (a) | 1800 | (9684) |
| &nbsp;&nbsp;&nbsp;&nbsp; Merck KGaA (a),(b) | 329 | (42658) |
| &nbsp;&nbsp;&nbsp;&nbsp; Newamsterdam Pharma Co. NV (a) | 2100 | (38031) |
| &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk AS, ADR (b) | 33267 | (2296088) |
| &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk AS (b) | 6385 | (443157) |
| &nbsp;&nbsp;&nbsp;&nbsp; Roche Holding AG (a),(b) | 568 | (185406) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Tiziana Life Sciences Ltd. (a) | 500 | $(790) |
| &nbsp;&nbsp;&nbsp;&nbsp; Verona Pharma PLC, ADR (a) | 300 | (28374) |
|  |  | (3936418) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retailing — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jumia Technologies AG, ADR (a) | 7800 | (31356) |
| &nbsp;&nbsp;&nbsp;&nbsp; LuxExperience BV, ADR (a) | 900 | (7146) |
|  |  | (38502) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Semiconductors & Semiconductor Equipment — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors NV | 9800 | (2141202) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Argo Blockchain PLC, ADR (a) | 6600 | (1234) |
| &nbsp;&nbsp;&nbsp;&nbsp; Arqit Quantum, Inc. (a) | 10 | (370) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dassault Systemes SE (b) | 1623 | (58750) |
| &nbsp;&nbsp;&nbsp;&nbsp; Endava PLC, ADR (a) | 2300 | (35236) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nebius Group NV (a) | 21400 | (1184062) |
| &nbsp;&nbsp;&nbsp;&nbsp; SAP SE, ADR | 10000 | (3041000) |
|  |  | (4320652) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Technology Hardware & Equipment — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Logitech International SA | 200 | (18026) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nokia OYJ, ADR | 114100 | (591038) |
| &nbsp;&nbsp;&nbsp;&nbsp; SMX Security Matters PLC (a) | 97 | (411) |
| &nbsp;&nbsp;&nbsp;&nbsp; TE Connectivity PLC (b) | 7177 | (1210545) |
| &nbsp;&nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson, ADR | 52200 | (442656) |
|  |  | (2262676) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunication Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunrise Communications AG, ADR (a) | 1600 | (90480) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group PLC, ADR | 5500 | (58630) |
|  |  | (149110) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aeroports de Paris SA (b) | 81 | (10155) |
| &nbsp;&nbsp;&nbsp;&nbsp; AP Moller - Maersk AS (b) | 18 | (33475) |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Lufthansa AG (b) | 6935 | (58876) |
| &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Post AG (b) | 1022 | (47339) |
|  |  | (149845) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Utilities — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC, ADR | 3700 | (275317) |
|  **Total Europe** |  | **(28742676)** |
|  **Middle East — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Automobiles & Components — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foresight Autonomous Holdings Ltd., ADR (a) | 388 | (179) |
| &nbsp;&nbsp;&nbsp;&nbsp; REE Automotive Ltd. (a) | 100 | (60) |
|  |  | (239) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brenmiller Energy Ltd. (a) | 2 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kornit Digital Ltd. (a) | 600 | (11946) |
|  |  | (11951) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Health Care Equipment & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GlucoTrack, Inc. (a) | 100 | (600) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ICL Group Ltd. | 4400 | $(30272) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Yalla Group Ltd., ADR (a) | 900 | (6066) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retailing — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Global-e Online Ltd. (a) | 14900 | (499746) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beamr Imaging Ltd. (a) | 800 | (2524) |
| &nbsp;&nbsp;&nbsp;&nbsp; Check Point Software Technologies Ltd. (a),(b) | 244 | (53985) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hub Cyber Security Ltd. (a) | 2360 | (4531) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nice Ltd., ADR (a) | 1300 | (219583) |
|  |  | (280623) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Technology Hardware & Equipment — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Arbe Robotics Ltd. (a) | 700 | (1246) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gauzy Ltd. (a) | 200 | (1688) |
| &nbsp;&nbsp;&nbsp;&nbsp; Innoviz Technologies Ltd. (a) | 45500 | (74620) |
| &nbsp;&nbsp;&nbsp;&nbsp; ParaZero Technologies Ltd. (a) | 5550 | (6937) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rail Vision Ltd. (a) | 4400 | (1431) |
|  |  | (85922) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Utilities — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Enlight Renewable Energy Ltd. (a) | 200 | (4546) |
|  **Total Middle East** |  | **(919965)** |
|  **North America — (16.1)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Automobiles & Components — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BorgWarner, Inc. | 5000 | (167400) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cooper-Standard Holdings, Inc. (a) | 500 | (10750) |
| &nbsp;&nbsp;&nbsp;&nbsp; Faraday Future Intelligent Electric, Inc. (a) | 14400 | (24192) |
| &nbsp;&nbsp;&nbsp;&nbsp; FLY-E Group, Inc. (a) | 200 | (182) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Co. (b) | 2796 | (30337) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gentex Corp. | 5100 | (112149) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gentherm, Inc. (a) | 1100 | (31119) |
| &nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (a) | 68100 | (706197) |
| &nbsp;&nbsp;&nbsp;&nbsp; Harley-Davidson, Inc. | 1800 | (42480) |
| &nbsp;&nbsp;&nbsp;&nbsp; LCI Industries | 1500 | (136785) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lear Corp. | 7200 | (683856) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lucid Group, Inc. (a) | 20300 | (42833) |
| &nbsp;&nbsp;&nbsp;&nbsp; Modine Manufacturing Co. (a) | 12500 | (1231250) |
| &nbsp;&nbsp;&nbsp;&nbsp; Patrick Industries, Inc. | 1350 | (124564) |
| &nbsp;&nbsp;&nbsp;&nbsp; Phinia, Inc. | 1400 | (62286) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rivian Automotive, Inc. (a),(b) | 1230 | (16900) |
| &nbsp;&nbsp;&nbsp;&nbsp; Solid Power, Inc. (a) | 34700 | (75993) |
| &nbsp;&nbsp;&nbsp;&nbsp; Stellantis NV (b) | 79498 | (797365) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc. (a),(b) | 458 | (145488) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thor Industries, Inc. | 500 | (44405) |
| &nbsp;&nbsp;&nbsp;&nbsp; Volcon, Inc. (a) | 151 | (1062) |
| &nbsp;&nbsp;&nbsp;&nbsp; Workhorse Group, Inc. (a) | 1 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; Worksport Ltd. (a) | 1705 | (4825) |
| &nbsp;&nbsp;&nbsp;&nbsp; XPEL, Inc. (a) | 1500 | (53850) |
|  |  | (4546269) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Banks — (2.8)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amerant Bancorp, Inc. | 1009 | $(18394) |
| &nbsp;&nbsp;&nbsp;&nbsp; Associated Banc-Corp. | 20172 | (491995) |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp. | 30 | (938) |
| &nbsp;&nbsp;&nbsp;&nbsp; Axos Financial, Inc. (a) | 46272 | (3518523) |
| &nbsp;&nbsp;&nbsp;&nbsp; Banc of California, Inc. | 6724 | (94472) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bancorp, Inc. (a) | 44752 | (2549521) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Montreal | 1300 | (143819) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia | 10900 | (602443) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank OZK | 166418 | (7831631) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bankwell Financial Group, Inc. | 4342 | (156442) |
| &nbsp;&nbsp;&nbsp;&nbsp; Burke & Herbert Financial Services Corp. | 2690 | (160674) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cadence Bank | 30027 | (960263) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce | 2400 | (169992) |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital Bancorp, Inc. | 10758 | (361254) |
| &nbsp;&nbsp;&nbsp;&nbsp; City Holding Co. | 43937 | (5378768) |
| &nbsp;&nbsp;&nbsp;&nbsp; Civista Bancshares, Inc. | 11301 | (262183) |
| &nbsp;&nbsp;&nbsp;&nbsp; Columbia Banking System, Inc. | 72686 | (1699399) |
| &nbsp;&nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 114603 | (11572611) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 369571 | (15200455) |
| &nbsp;&nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc. | 600 | (1173882) |
| &nbsp;&nbsp;&nbsp;&nbsp; First Horizon Corp. | 300 | (6360) |
| &nbsp;&nbsp;&nbsp;&nbsp; Firstsun Capital Bancorp (a) | 1690 | (58727) |
| &nbsp;&nbsp;&nbsp;&nbsp; Flagstar Financial, Inc. | 3832 | (40619) |
| &nbsp;&nbsp;&nbsp;&nbsp; FNB Corp. | 20172 | (294108) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | 28656 | (1644854) |
| &nbsp;&nbsp;&nbsp;&nbsp; Home BancShares, Inc. | 92454 | (2631241) |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 932988 | (15636879) |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | 155369 | (2706528) |
| &nbsp;&nbsp;&nbsp;&nbsp; MidWestOne Financial Group, Inc. | 7129 | (205101) |
| &nbsp;&nbsp;&nbsp;&nbsp; OceanFirst Financial Corp. | 12405 | (218452) |
| &nbsp;&nbsp;&nbsp;&nbsp; Old National Bancorp | 30800 | (657272) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pathward Financial, Inc. | 50254 | (3976096) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc. | 500 | (55205) |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred Bank | 56481 | (4888148) |
| &nbsp;&nbsp;&nbsp;&nbsp; Regions Financial Corp. | 3378 | (79451) |
| &nbsp;&nbsp;&nbsp;&nbsp; Renasant Corp. | 300 | (10779) |
| &nbsp;&nbsp;&nbsp;&nbsp; ServisFirst Bancshares, Inc. | 14248 | (1104362) |
| &nbsp;&nbsp;&nbsp;&nbsp; Simmons First National Corp., Class A | 53762 | (1019328) |
| &nbsp;&nbsp;&nbsp;&nbsp; SouthState Corp. | 67214 | (6185704) |
| &nbsp;&nbsp;&nbsp;&nbsp; Toronto-Dominion Bank | 37100 | (2724995) |
| &nbsp;&nbsp;&nbsp;&nbsp; Triumph Financial, Inc. (a) | 11655 | (642307) |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustmark Corp. | 61177 | (2230513) |
| &nbsp;&nbsp;&nbsp;&nbsp; United Bankshares, Inc. | 3685 | (134245) |
| &nbsp;&nbsp;&nbsp;&nbsp; Valley National Bancorp | 63878 | (570431) |
| &nbsp;&nbsp;&nbsp;&nbsp; WaFd, Inc. | 33 | (966) |
| &nbsp;&nbsp;&nbsp;&nbsp; Washington Trust Bancorp, Inc. | 15186 | (429460) |
| &nbsp;&nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | 805 | (99804) |
| &nbsp;&nbsp;&nbsp;&nbsp; WSFS Financial Corp. | 1100 | (60500) |
| &nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp NA | 72618 | (3771779) |
|  |  | (104431873) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — (0.7)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3M Co. | 9700 | $(1476728) |
| &nbsp;&nbsp;&nbsp;&nbsp; A.O. Smith Corp. (b) | 614 | (40260) |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. | 900 | (103374) |
| &nbsp;&nbsp;&nbsp;&nbsp; AeroVironment, Inc. (a),(b) | 3226 | (919249) |
| &nbsp;&nbsp;&nbsp;&nbsp; AgEagle Aerial Systems, Inc. (a) | 4400 | (4532) |
| &nbsp;&nbsp;&nbsp;&nbsp; AirJoule Technologies Corp. (a) | 100 | (463) |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegion PLC | 200 | (28824) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alta Equipment Group, Inc. | 300 | (1896) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameresco, Inc., Class A (a) | 1800 | (27342) |
| &nbsp;&nbsp;&nbsp;&nbsp; American Superconductor Corp. (a) | 1700 | (62373) |
| &nbsp;&nbsp;&nbsp;&nbsp; Array Technologies, Inc. (a) | 6700 | (39530) |
| &nbsp;&nbsp;&nbsp;&nbsp; ATS Corp. (a) | 2800 | (89264) |
| &nbsp;&nbsp;&nbsp;&nbsp; AZEK Co., Inc. (a) | 3600 | (195660) |
| &nbsp;&nbsp;&nbsp;&nbsp; Babcock & Wilcox Enterprises, Inc. (a) | 2700 | (2598) |
| &nbsp;&nbsp;&nbsp;&nbsp; Blink Charging Co. (a) | 10300 | (9681) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Business Corp. | 300 | (9360) |
| &nbsp;&nbsp;&nbsp;&nbsp; Builders FirstSource, Inc. (a),(b) | 1500 | (175035) |
| &nbsp;&nbsp;&nbsp;&nbsp; Byrna Technologies, Inc. (a) | 800 | (24704) |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | 700 | (261380) |
| &nbsp;&nbsp;&nbsp;&nbsp; Caterpillar, Inc. (b) | 628 | (243796) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc. (a) | 4900 | (806785) |
| &nbsp;&nbsp;&nbsp;&nbsp; Complete Solaria, Inc. (a) | 5870 | (10801) |
| &nbsp;&nbsp;&nbsp;&nbsp; Core & Main, Inc., Class A (a) | 200 | (12070) |
| &nbsp;&nbsp;&nbsp;&nbsp; Deere & Co. | 15000 | (7627350) |
| &nbsp;&nbsp;&nbsp;&nbsp; DNOW, Inc. (a) | 100 | (1483) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dover Corp. (b) | 328 | (60099) |
| &nbsp;&nbsp;&nbsp;&nbsp; Draganfly, Inc. (a) | 1300 | (4121) |
| &nbsp;&nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 2200 | (785378) |
| &nbsp;&nbsp;&nbsp;&nbsp; Emerson Electric Co. (b) | 2943 | (392390) |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Focus, Inc. (a) | 7 | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp; Enovix Corp. (a) | 12900 | (133386) |
| &nbsp;&nbsp;&nbsp;&nbsp; Eos Energy Enterprises, Inc. (a) | 17700 | (90624) |
| &nbsp;&nbsp;&nbsp;&nbsp; ESS Tech, Inc. (a) | 2413 | (3209) |
| &nbsp;&nbsp;&nbsp;&nbsp; Everus Construction Group, Inc. (a) | 800 | (50824) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fastenal Co. | 52198 | (2192316) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. | 4900 | (1066975) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferrovial SE | 1 | (54) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fluor Corp. (a) | 5800 | (297366) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. (b) | 1603 | (82522) |
| &nbsp;&nbsp;&nbsp;&nbsp; FTAI Aviation Ltd. (b) | 6786 | (780661) |
| &nbsp;&nbsp;&nbsp;&nbsp; FTC Solar, Inc. (a) | 2134 | (9667) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gates Industrial Corp. PLC (a) | 800 | (18424) |
| &nbsp;&nbsp;&nbsp;&nbsp; Generac Holdings, Inc. (a) | 300 | (42963) |
| &nbsp;&nbsp;&nbsp;&nbsp; General Electric Co. | 2300 | (591997) |
| &nbsp;&nbsp;&nbsp;&nbsp; GrafTech International Ltd. (a) | 2400 | (2334) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hayward Holdings, Inc. (a) | 1000 | (13800) |
| &nbsp;&nbsp;&nbsp;&nbsp; HEICO Corp. (b) | 24 | (7872) |
| &nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc. | 25 | (3292) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hillenbrand, Inc. | 1900 | (38133) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hillman Solutions Corp. (a) | 600 | (4284) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 3800 | $(707294) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubbell, Inc. | 400 | (163364) |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. (b) | 181 | (43704) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hyliion Holdings Corp. (a) | 400 | (528) |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEX Corp. (b) | 232 | (40732) |
| &nbsp;&nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. (b) | 201 | (49697) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc. (b) | 981 | (81600) |
| &nbsp;&nbsp;&nbsp;&nbsp; JBT Marel Corp. | 1700 | (204442) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc. (a) | 7400 | (343730) |
| &nbsp;&nbsp;&nbsp;&nbsp; KULR Technology Group, Inc. (a) | 8000 | (57040) |
| &nbsp;&nbsp;&nbsp;&nbsp; Laser Photonics Corp. (a) | 400 | (1076) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin Corp. (b) | 102 | (47240) |
| &nbsp;&nbsp;&nbsp;&nbsp; Masco Corp. (b) | 1679 | (108060) |
| &nbsp;&nbsp;&nbsp;&nbsp; Momentus, Inc. (a) | 1128 | (1376) |
| &nbsp;&nbsp;&nbsp;&nbsp; NANO Nuclear Energy, Inc. (a) | 5000 | (172450) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nauticus Robotics, Inc. (a) | 100 | (92) |
| &nbsp;&nbsp;&nbsp;&nbsp; NeoVolta, Inc. (a) | 1200 | (3960) |
| &nbsp;&nbsp;&nbsp;&nbsp; New Horizon Aircraft Ltd. (a) | 3818 | (6529) |
| &nbsp;&nbsp;&nbsp;&nbsp; NEXTracker, Inc., Class A (a) | 20096 | (1092620) |
| &nbsp;&nbsp;&nbsp;&nbsp; NN, Inc. (a) | 700 | (1470) |
| &nbsp;&nbsp;&nbsp;&nbsp; Northann Corp. (a) | 11379 | (1821) |
| &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp. (b) | 114 | (56998) |
| &nbsp;&nbsp;&nbsp;&nbsp; nVent Electric PLC | 900 | (65925) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pentair PLC (b) | 61 | (6262) |
| &nbsp;&nbsp;&nbsp;&nbsp; Powell Industries, Inc. | 1100 | (231495) |
| &nbsp;&nbsp;&nbsp;&nbsp; Primoris Services Corp. | 800 | (62352) |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 4500 | (1701360) |
| &nbsp;&nbsp;&nbsp;&nbsp; QXO, Inc. (a) | 25 | (539) |
| &nbsp;&nbsp;&nbsp;&nbsp; Regal Rexnord Corp. | 3700 | (536352) |
| &nbsp;&nbsp;&nbsp;&nbsp; Resideo Technologies, Inc. (a) | 3300 | (72798) |
| &nbsp;&nbsp;&nbsp;&nbsp; Richtech Robotics, Inc. (a) | 25400 | (49530) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rocket Lab Corp. (a) | 5300 | (189581) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rockwell Automation, Inc. (b) | 678 | (225211) |
| &nbsp;&nbsp;&nbsp;&nbsp; RTX Corp. | 16700 | (2438534) |
| &nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric SE (b) | 330 | (88600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC | 700 | (21077) |
| &nbsp;&nbsp;&nbsp;&nbsp; Shoals Technologies Group, Inc. (a) | 400 | (1700) |
| &nbsp;&nbsp;&nbsp;&nbsp; Solidion Technology, Inc. (a) | 100 | (394) |
| &nbsp;&nbsp;&nbsp;&nbsp; Spirit AeroSystems Holdings, Inc. (a) | 5300 | (202195) |
| &nbsp;&nbsp;&nbsp;&nbsp; Standex International Corp. | 200 | (31296) |
| &nbsp;&nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc. | 3300 | (223575) |
| &nbsp;&nbsp;&nbsp;&nbsp; Stem, Inc. (a) | 100 | (623) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunrun, Inc. (a) | 59215 | (484379) |
| &nbsp;&nbsp;&nbsp;&nbsp; Textron, Inc. | 400 | (32116) |
| &nbsp;&nbsp;&nbsp;&nbsp; TransDigm Group, Inc. (a),(b) | 25 | (38016) |
| &nbsp;&nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 400 | (39744) |
| &nbsp;&nbsp;&nbsp;&nbsp; Valmont Industries, Inc. | 300 | (97971) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vertiv Holdings Co. | 12200 | (1566602) |
| &nbsp;&nbsp;&nbsp;&nbsp; Virgin Galactic Holdings, Inc. (a) | 10 | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp; Voyager Technologies, Inc. (a) | 300 | (11775) |
| &nbsp;&nbsp;&nbsp;&nbsp; WillScot Holdings Corp. | 4300 | (117820) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Xometry, Inc. (a) | 3000 | $(101370) |
|  |  | (30672288) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Commercial & Professional Services — (0.4)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Acuren Corp. (a) | 100 | (1104) |
| &nbsp;&nbsp;&nbsp;&nbsp; ACV Auctions, Inc., Class A (a) | 8000 | (129760) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alight, Inc. | 26700 | (151122) |
| &nbsp;&nbsp;&nbsp;&nbsp; ALT5 Sigma Corp. (a) | 1336 | (9679) |
| &nbsp;&nbsp;&nbsp;&nbsp; Amentum Holdings, Inc. (a) | 1109 | (26183) |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackSky Technology, Inc. (a) | 4258 | (87630) |
| &nbsp;&nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp. (b) | 296 | (30822) |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. (b) | 422 | (102559) |
| &nbsp;&nbsp;&nbsp;&nbsp; CACI International, Inc. (a) | 1000 | (476700) |
| &nbsp;&nbsp;&nbsp;&nbsp; Casella Waste Systems, Inc. (a) | 900 | (103842) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ceridian HCM Holding, Inc. (a) | 24900 | (1379211) |
| &nbsp;&nbsp;&nbsp;&nbsp; Clarivate PLC (a) | 66700 | (286810) |
| &nbsp;&nbsp;&nbsp;&nbsp; Concentrix Corp. | 2600 | (137423) |
| &nbsp;&nbsp;&nbsp;&nbsp; Conduent, Inc. (a) | 2200 | (5808) |
| &nbsp;&nbsp;&nbsp;&nbsp; Copart, Inc. (a) | 45800 | (2247406) |
| &nbsp;&nbsp;&nbsp;&nbsp; Enviri Corp. (a) | 1200 | (10416) |
| &nbsp;&nbsp;&nbsp;&nbsp; Equifax, Inc. (b) | 616 | (159772) |
| &nbsp;&nbsp;&nbsp;&nbsp; First Advantage Corp. (a) | 2486 | (41292) |
| &nbsp;&nbsp;&nbsp;&nbsp; FiscalNote Holdings, Inc. (a) | 4000 | (2146) |
| &nbsp;&nbsp;&nbsp;&nbsp; Knightscope, Inc. (a) | 1544 | (7627) |
| &nbsp;&nbsp;&nbsp;&nbsp; Korn Ferry | 300 | (21999) |
| &nbsp;&nbsp;&nbsp;&nbsp; LanzaTech Global, Inc. (a) | 11303 | (3065) |
| &nbsp;&nbsp;&nbsp;&nbsp; Montrose Environmental Group, Inc. (a) | 4100 | (89749) |
| &nbsp;&nbsp;&nbsp;&nbsp; MSA Safety, Inc. | 195 | (32668) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nixxy, Inc. (a) | 400 | (836) |
| &nbsp;&nbsp;&nbsp;&nbsp; NV5 Global, Inc. (a) | 200 | (4618) |
| &nbsp;&nbsp;&nbsp;&nbsp; Odyssey Marine Exploration, Inc. (a) | 1253 | (1479) |
| &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | 20600 | (2996476) |
| &nbsp;&nbsp;&nbsp;&nbsp; Perma-Fix Environmental Services, Inc. (a) | 3300 | (34716) |
| &nbsp;&nbsp;&nbsp;&nbsp; Planet Labs PBC (a) | 4800 | (29280) |
| &nbsp;&nbsp;&nbsp;&nbsp; Quest Resource Holding Corp. (a) | 300 | (606) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Global, Inc. | 31100 | (3302509) |
| &nbsp;&nbsp;&nbsp;&nbsp; Resources Connection, Inc. | 100 | (537) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rollins, Inc. | 798 | (45023) |
| &nbsp;&nbsp;&nbsp;&nbsp; Spire Global, Inc. (a) | 50 | (595) |
| &nbsp;&nbsp;&nbsp;&nbsp; SS&C Technologies Holdings, Inc. (b) | 13437 | (1112584) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tetra Tech, Inc. | 800 | (28768) |
| &nbsp;&nbsp;&nbsp;&nbsp; TransUnion (b) | 4499 | (395912) |
| &nbsp;&nbsp;&nbsp;&nbsp; Veralto Corp. (b) | 1278 | (129014) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vestis Corp. | 7500 | (42975) |
| &nbsp;&nbsp;&nbsp;&nbsp; VSE Corp. | 100 | (13098) |
|  |  | (13683819) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Durables & Apparel — (0.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aterian, Inc. (a) | 300 | (498) |
| &nbsp;&nbsp;&nbsp;&nbsp; Capri Holdings Ltd. (a) | 25300 | (447810) |
| &nbsp;&nbsp;&nbsp;&nbsp; Champion Homes, Inc. (a) | 200 | (12522) |
| &nbsp;&nbsp;&nbsp;&nbsp; Crocs, Inc. (a) | 3600 | (364608) |
| &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc. (b) | 913 | (117704) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dream Finders Homes, Inc. (a) | 400 | $(10052) |
| &nbsp;&nbsp;&nbsp;&nbsp; Funko, Inc. (a) | 200 | (952) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hasbro, Inc. | 2900 | (214078) |
| &nbsp;&nbsp;&nbsp;&nbsp; Helen of Troy Ltd. (a) | 800 | (22704) |
| &nbsp;&nbsp;&nbsp;&nbsp; Installed Building Products, Inc. (b) | 215 | (38769) |
| &nbsp;&nbsp;&nbsp;&nbsp; KB Home (b) | 920 | (48732) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. | 300 | (19791) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lakeland Industries, Inc. | 200 | (2722) |
| &nbsp;&nbsp;&nbsp;&nbsp; Latham Group, Inc. (a) | 1800 | (11484) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lennar Corp., Class A (b) | 1019 | (112712) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc. (a) | 3500 | (831530) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mattel, Inc. (a) | 25200 | (496944) |
| &nbsp;&nbsp;&nbsp;&nbsp; Outdoor Holding Co. (a) | 6500 | (8320) |
| &nbsp;&nbsp;&nbsp;&nbsp; PLBY Group, Inc. (a) | 19664 | (31856) |
| &nbsp;&nbsp;&nbsp;&nbsp; Purple Innovation, Inc. (a) | 3800 | (2771) |
| &nbsp;&nbsp;&nbsp;&nbsp; PVH Corp. | 8398 | (576103) |
| &nbsp;&nbsp;&nbsp;&nbsp; SharkNinja, Inc. (a) | 100 | (9899) |
| &nbsp;&nbsp;&nbsp;&nbsp; Skechers USA, Inc. (a) | 44200 | (2789020) |
| &nbsp;&nbsp;&nbsp;&nbsp; Somnigroup International, Inc. | 50500 | (3436525) |
| &nbsp;&nbsp;&nbsp;&nbsp; SRM Entertainment, Inc. (a) | 1000 | (7750) |
| &nbsp;&nbsp;&nbsp;&nbsp; Steven Madden Ltd. | 5899 | (141458) |
| &nbsp;&nbsp;&nbsp;&nbsp; Toll Brothers, Inc. (b) | 969 | (110592) |
| &nbsp;&nbsp;&nbsp;&nbsp; TopBuild Corp. (a),(b) | 333 | (107805) |
| &nbsp;&nbsp;&nbsp;&nbsp; Traeger, Inc. (a) | 2600 | (4446) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vera Bradley, Inc. (a) | 101 | (223) |
| &nbsp;&nbsp;&nbsp;&nbsp; Whirlpool Corp. | 4100 | (415822) |
|  |  | (10396202) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Services — (1.4)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc., Class A (a),(b) | 1853 | (245226) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aramark | 22800 | (954636) |
| &nbsp;&nbsp;&nbsp;&nbsp; Boyd Gaming Corp. | 3100 | (242513) |
| &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. (a) | 59076 | (1677168) |
| &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp. (a) | 13500 | (379620) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc. (a) | 65300 | (3666595) |
| &nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs, Inc. | 200 | (20200) |
| &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | 4500 | (980865) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dave & Buster's Entertainment, Inc. (a) | 11599 | (348898) |
| &nbsp;&nbsp;&nbsp;&nbsp; DraftKings, Inc. (a) | 51030 | (2188677) |
| &nbsp;&nbsp;&nbsp;&nbsp; El Pollo Loco Holdings, Inc. (a) | 100 | (1101) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expedia Group, Inc. (b) | 5093 | (859087) |
| &nbsp;&nbsp;&nbsp;&nbsp; Frontdoor, Inc. (a) | 2300 | (135562) |
| &nbsp;&nbsp;&nbsp;&nbsp; Full House Resorts, Inc. (a) | 2200 | (8052) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hilton Grand Vacations, Inc. (a) | 4000 | (166120) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hyatt Hotels Corp. | 699 | (97615) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inspirato, Inc. (a) | 29 | (99) |
| &nbsp;&nbsp;&nbsp;&nbsp; International Game Technology PLC | 3000 | (47430) |
| &nbsp;&nbsp;&nbsp;&nbsp; Jack in the Box, Inc. | 900 | (15714) |
| &nbsp;&nbsp;&nbsp;&nbsp; KinderCare Learning Cos., Inc. (a) | 300 | (3030) |
| &nbsp;&nbsp;&nbsp;&nbsp; Krispy Kreme, Inc. | 27700 | (80607) |
| &nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 64100 | (2788991) |
| &nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder, Inc. (a) | 800 | (77008) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Lucky Strike Entertainment Corp. | 200 | $(1826) |
| &nbsp;&nbsp;&nbsp;&nbsp; Marriott International, Inc. | 15500 | (4234755) |
| &nbsp;&nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp. | 3100 | (224161) |
| &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp. | 21200 | (6194004) |
| &nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International (a) | 40600 | (1396234) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mister Car Wash, Inc. (a) | 3000 | (18030) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nerdy, Inc. (a) | 14500 | (23635) |
| &nbsp;&nbsp;&nbsp;&nbsp; Noodles & Co. (a) | 2500 | (1782) |
| &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings Ltd. (a),(b) | 6113 | (123972) |
| &nbsp;&nbsp;&nbsp;&nbsp; ONE Group Hospitality, Inc. (a) | 400 | (1620) |
| &nbsp;&nbsp;&nbsp;&nbsp; Papa John's International, Inc. | 3470 | (169822) |
| &nbsp;&nbsp;&nbsp;&nbsp; Penn Entertainment, Inc. (a) | 44500 | (795215) |
| &nbsp;&nbsp;&nbsp;&nbsp; Planet Fitness, Inc., Class A (a) | 8849 | (964983) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pursuit Attractions & Hospitality, Inc. (a) | 200 | (5766) |
| &nbsp;&nbsp;&nbsp;&nbsp; Restaurant Brands International, Inc. | 20800 | (1378832) |
| &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. | 20300 | (6356742) |
| &nbsp;&nbsp;&nbsp;&nbsp; SeaWorld Entertainment, Inc. (a),(b) | 2585 | (121883) |
| &nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. | 30588 | (930793) |
| &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp. | 81900 | (7504497) |
| &nbsp;&nbsp;&nbsp;&nbsp; Travel & Leisure Co. | 800 | (41288) |
| &nbsp;&nbsp;&nbsp;&nbsp; Udemy, Inc. (a) | 1400 | (9842) |
| &nbsp;&nbsp;&nbsp;&nbsp; Viking Holdings Ltd. (a),(b) | 5606 | (298744) |
| &nbsp;&nbsp;&nbsp;&nbsp; Wendy's Co. | 35100 | (400842) |
| &nbsp;&nbsp;&nbsp;&nbsp; Wingstop, Inc. | 1600 | (538784) |
| &nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. (b) | 8764 | (711724) |
| &nbsp;&nbsp;&nbsp;&nbsp; Wynn Resorts Ltd. | 16500 | (1545555) |
| &nbsp;&nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 3200 | (474176) |
|  |  | (49454321) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financials — (2.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Acacia Research Corp. (a) | 1200 | (4296) |
| &nbsp;&nbsp;&nbsp;&nbsp; Affirm Holdings, Inc. (a) | 5068 | (350402) |
| &nbsp;&nbsp;&nbsp;&nbsp; AGNC Investment Corp. | 293300 | (2695427) |
| &nbsp;&nbsp;&nbsp;&nbsp; AlTi Global, Inc. (a) | 2200 | (9130) |
| &nbsp;&nbsp;&nbsp;&nbsp; American Express Co. | 23112 | (7372266) |
| &nbsp;&nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc. | 22750 | (428155) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Management Corp. | 14100 | (2442120) |
| &nbsp;&nbsp;&nbsp;&nbsp; AvidXchange Holdings, Inc. (a) | 3500 | (34265) |
| &nbsp;&nbsp;&nbsp;&nbsp; B Riley Financial, Inc. | 700 | (2079) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bakkt Holdings, Inc. (a) | 340 | (4743) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 1600 | (145776) |
| &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., Class B (a),(b) | 11745 | (5705369) |
| &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. (a),(b) | 1 | (728800) |
| &nbsp;&nbsp;&nbsp;&nbsp; Better Home & Finance Holding Co. (a) | 1192 | (14769) |
| &nbsp;&nbsp;&nbsp;&nbsp; Block, Inc. (a) | 21300 | (1446909) |
| &nbsp;&nbsp;&nbsp;&nbsp; Blue Owl Capital Corp. | 14200 | (203628) |
| &nbsp;&nbsp;&nbsp;&nbsp; Blue Owl Capital, Inc. | 16700 | (320807) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Asset Management Ltd. | 20000 | (1105600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Corp. | 55567 | (3436819) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cantaloupe, Inc. (a) | 900 | (9891) |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. | 20267 | (4312007) |
| &nbsp;&nbsp;&nbsp;&nbsp; Carlyle Group, Inc. | 3500 | (179900) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 40317 | $(9402328) |
| &nbsp;&nbsp;&nbsp;&nbsp; Claros Mortgage Trust, Inc. | 600 | (1710) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cohen & Steers, Inc. | 100 | (7535) |
| &nbsp;&nbsp;&nbsp;&nbsp; Corpay, Inc. (a) | 7548 | (2504577) |
| &nbsp;&nbsp;&nbsp;&nbsp; DigitalBridge Group, Inc. | 4506 | (46637) |
| &nbsp;&nbsp;&nbsp;&nbsp; Enova International, Inc. (a) | 90713 | (10116314) |
| &nbsp;&nbsp;&nbsp;&nbsp; Euronet Worldwide, Inc. (a) | 34750 | (3522955) |
| &nbsp;&nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. (b) | 97 | (43386) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | 86700 | (7058247) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiserv, Inc. (a),(b) | 2868 | (494472) |
| &nbsp;&nbsp;&nbsp;&nbsp; Forge Global Holdings, Inc. (a) | 1331 | (25342) |
| &nbsp;&nbsp;&nbsp;&nbsp; Galaxy Digital, Inc. (a) | 300 | (6570) |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Payments, Inc. | 6700 | (536268) |
| &nbsp;&nbsp;&nbsp;&nbsp; Granite Point Mortgage Trust, Inc. | 300 | (741) |
| &nbsp;&nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. | 5200 | (139672) |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco Ltd. | 300 | (4731) |
| &nbsp;&nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. (b) | 4487 | (808423) |
| &nbsp;&nbsp;&nbsp;&nbsp; KKR & Co., Inc. | 17900 | (2381237) |
| &nbsp;&nbsp;&nbsp;&nbsp; loanDepot, Inc. (a) | 1300 | (1651) |
| &nbsp;&nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. | 2100 | (787437) |
| &nbsp;&nbsp;&nbsp;&nbsp; Moody's Corp. (b) | 167 | (83766) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mr. Cooper Group, Inc. (a) | 1600 | (238736) |
| &nbsp;&nbsp;&nbsp;&nbsp; MSCI, Inc., Class A (b) | 214 | (123422) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nasdaq, Inc. | 6362 | (568890) |
| &nbsp;&nbsp;&nbsp;&nbsp; NCR Atleos Corp. (a) | 100 | (2853) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nelnet, Inc. | 100 | (12112) |
| &nbsp;&nbsp;&nbsp;&nbsp; NerdWallet, Inc. (a) | 400 | (4388) |
| &nbsp;&nbsp;&nbsp;&nbsp; Netcapital, Inc. (a) | 100 | (686) |
| &nbsp;&nbsp;&nbsp;&nbsp; NewtekOne, Inc. | 42078 | (474640) |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Trust Corp. | 4300 | (545197) |
| &nbsp;&nbsp;&nbsp;&nbsp; PRA Group, Inc. (a) | 200 | (2950) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ready Capital Corp. | 14800 | (64676) |
| &nbsp;&nbsp;&nbsp;&nbsp; Regional Management Corp. | 7733 | (225881) |
| &nbsp;&nbsp;&nbsp;&nbsp; Remitly Global, Inc. (a) | 14800 | (277796) |
| &nbsp;&nbsp;&nbsp;&nbsp; Robinhood Markets, Inc. (a) | 45260 | (4237694) |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P Global, Inc. (b) | 214 | (112840) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sachem Capital Corp. | 1400 | (1680) |
| &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. (a) | 9300 | (921723) |
| &nbsp;&nbsp;&nbsp;&nbsp; StepStone Group, Inc. | 3500 | (194250) |
| &nbsp;&nbsp;&nbsp;&nbsp; StoneX Group, Inc. (a) | 8113 | (739419) |
| &nbsp;&nbsp;&nbsp;&nbsp; Synchrony Financial | 9700 | (647378) |
| &nbsp;&nbsp;&nbsp;&nbsp; TPG, Inc. | 900 | (47205) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tradeweb Markets, Inc. | 25280 | (3700992) |
| &nbsp;&nbsp;&nbsp;&nbsp; Two Harbors Investment Corp. | 350 | (3770) |
| &nbsp;&nbsp;&nbsp;&nbsp; Virtu Financial, Inc. | 6754 | (302512) |
|  |  | (82378847) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Energy — (0.7)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Resources Corp. (a) | 2200 | (1822) |
| &nbsp;&nbsp;&nbsp;&nbsp; Amplify Energy Corp. (a) | 1034 | (3309) |
| &nbsp;&nbsp;&nbsp;&nbsp; APA Corp. (b) | 8155 | (149155) |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlas Energy Solutions, Inc. | 4200 | (56154) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baker Hughes Co. | 62900 | $(2411586) |
| &nbsp;&nbsp;&nbsp;&nbsp; Baytex Energy Corp. | 886 | (1586) |
| &nbsp;&nbsp;&nbsp;&nbsp; Borr Drilling Ltd. | 15600 | (28548) |
| &nbsp;&nbsp;&nbsp;&nbsp; BP PLC, ADR | 48100 | (1439633) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cactus, Inc. | 6000 | (262320) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cameco Corp. | 6500 | (482495) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cenovus Energy, Inc. | 3800 | (51680) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp. (b) | 17803 | (2549212) |
| &nbsp;&nbsp;&nbsp;&nbsp; Chord Energy Corp. (b) | 1572 | (152248) |
| &nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources, Inc. (b) | 26516 | (729720) |
| &nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Fuels Corp. (a) | 3600 | (7020) |
| &nbsp;&nbsp;&nbsp;&nbsp; CNX Resources Corp. (a),(b) | 9201 | (309890) |
| &nbsp;&nbsp;&nbsp;&nbsp; Comstock, Inc. (a) | 3780 | (14326) |
| &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips (b) | 333 | (29883) |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Laboratories, Inc. | 300 | (3456) |
| &nbsp;&nbsp;&nbsp;&nbsp; Core Natural Resources, Inc. | 2321 | (161867) |
| &nbsp;&nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 77300 | (1961874) |
| &nbsp;&nbsp;&nbsp;&nbsp; Crescent Energy Co., Class A | 6470 | (55642) |
| &nbsp;&nbsp;&nbsp;&nbsp; Delek U.S. Holdings, Inc. | 300 | (6354) |
| &nbsp;&nbsp;&nbsp;&nbsp; Denison Mines Corp. (a) | 118500 | (215670) |
| &nbsp;&nbsp;&nbsp;&nbsp; Encore Energy Corp. (a) | 2200 | (6292) |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Fuels, Inc. (a) | 59400 | (341550) |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Vault Holdings, Inc. (a) | 17000 | (12186) |
| &nbsp;&nbsp;&nbsp;&nbsp; EOG Resources, Inc. (b) | 8526 | (1019795) |
| &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp. | 11590 | (675929) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expro Group Holdings NV (a) | 19600 | (168364) |
| &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp. (b) | 54470 | (5871866) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gevo, Inc. (a) | 21000 | (27720) |
| &nbsp;&nbsp;&nbsp;&nbsp; Helix Energy Solutions Group, Inc. (a) | 200 | (1248) |
| &nbsp;&nbsp;&nbsp;&nbsp; Helmerich & Payne, Inc. | 6700 | (101572) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 5200 | (720408) |
| &nbsp;&nbsp;&nbsp;&nbsp; International Seaways, Inc. | 2000 | (72960) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinetik Holdings, Inc. | 20 | (881) |
| &nbsp;&nbsp;&nbsp;&nbsp; KLX Energy Services Holdings, Inc. (a) | 5200 | (9724) |
| &nbsp;&nbsp;&nbsp;&nbsp; Murphy Oil Corp. (b) | 5319 | (119677) |
| &nbsp;&nbsp;&nbsp;&nbsp; NexGen Energy Ltd. (a) | 36300 | (251922) |
| &nbsp;&nbsp;&nbsp;&nbsp; NextDecade Corp. (a) | 5900 | (52569) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nine Energy Service, Inc. (a) | 11800 | (9099) |
| &nbsp;&nbsp;&nbsp;&nbsp; Noble Corp. PLC | 10048 | (266774) |
| &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. | 10600 | (300510) |
| &nbsp;&nbsp;&nbsp;&nbsp; NOV, Inc. | 400 | (4972) |
| &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. (b) | 8464 | (355573) |
| &nbsp;&nbsp;&nbsp;&nbsp; Oceaneering International, Inc. (a) | 1600 | (33152) |
| &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | 14776 | (1206165) |
| &nbsp;&nbsp;&nbsp;&nbsp; OPAL Fuels, Inc. (a) | 2000 | (4840) |
| &nbsp;&nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. | 81315 | (482198) |
| &nbsp;&nbsp;&nbsp;&nbsp; PBF Energy, Inc. (b) | 5711 | (123757) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peabody Energy Corp. | 3400 | (45628) |
| &nbsp;&nbsp;&nbsp;&nbsp; Permian Resources Corp. (b) | 3954 | (53853) |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips 66 | 100 | (11930) |
| &nbsp;&nbsp;&nbsp;&nbsp; Prairie Operating Co. (a) | 300 | (899) |
| &nbsp;&nbsp;&nbsp;&nbsp; ProFrac Holding Corp. (a) | 3500 | (27160) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Range Resources Corp. (b) | 7541 | $(306692) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ring Energy, Inc. (a) | 200 | (159) |
| &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger NV (b) | 8521 | (288010) |
| &nbsp;&nbsp;&nbsp;&nbsp; SEACOR Marine Holdings, Inc. (a) | 1700 | (8670) |
| &nbsp;&nbsp;&nbsp;&nbsp; Shell PLC, ADR | 200 | (14082) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sitio Royalties Corp. | 7 | (129) |
| &nbsp;&nbsp;&nbsp;&nbsp; Talos Energy, Inc. (a) | 800 | (6784) |
| &nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Corp. | 500 | (87040) |
| &nbsp;&nbsp;&nbsp;&nbsp; Teekay Tankers Ltd. | 37 | (1544) |
| &nbsp;&nbsp;&nbsp;&nbsp; TETRA Technologies, Inc. (a) | 900 | (3024) |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. | 800 | (845112) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tidewater, Inc. (a) | 200 | (9226) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uranium Energy Corp. (a) | 65400 | (444720) |
| &nbsp;&nbsp;&nbsp;&nbsp; Uranium Royalty Corp. (a) | 41000 | (102500) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ur-Energy, Inc. (a) | 70200 | (73710) |
| &nbsp;&nbsp;&nbsp;&nbsp; VAALCO Energy, Inc. | 6641 | (23974) |
| &nbsp;&nbsp;&nbsp;&nbsp; Valaris Ltd. (a) | 18200 | (766402) |
| &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy Corp. (b) | 5102 | (685811) |
| &nbsp;&nbsp;&nbsp;&nbsp; Venture Global, Inc. | 3100 | (48298) |
|  |  | (27182510) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food & Staples Retailing — (0.4)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc. (a) | 2200 | (237226) |
| &nbsp;&nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. | 2000 | (1020540) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar Tree, Inc. (a) | 2600 | (257504) |
| &nbsp;&nbsp;&nbsp;&nbsp; Maplebear, Inc. (a) | 200 | (9048) |
| &nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group Co. (a) | 27800 | (2431666) |
| &nbsp;&nbsp;&nbsp;&nbsp; PriceSmart, Inc. | 100 | (10504) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 56600 | (4286884) |
| &nbsp;&nbsp;&nbsp;&nbsp; Target Corp. | 46200 | (4557630) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Foods Holding Corp. (a) | 9100 | (700791) |
| &nbsp;&nbsp;&nbsp;&nbsp; United Natural Foods, Inc. (a) | 1400 | (32634) |
| &nbsp;&nbsp;&nbsp;&nbsp; Walgreens Boots Alliance, Inc. | 1100 | (12628) |
| &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc. | 37100 | (3627638) |
|  |  | (17184693) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Food, Beverage & Tobacco — (0.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BRC, Inc. (a) | 1700 | (2227) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown-Forman Corp., Class B | 26900 | (723879) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bunge Global SA | 1300 | (104364) |
| &nbsp;&nbsp;&nbsp;&nbsp; Celsius Holdings, Inc. (a) | 12100 | (561319) |
| &nbsp;&nbsp;&nbsp;&nbsp; CIMG, Inc. (a) | 100 | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc. | 3600 | (585648) |
| &nbsp;&nbsp;&nbsp;&nbsp; Edible Garden AG, Inc. (a) | 16 | (42) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ispire Technology, Inc. (a) | 1700 | (4352) |
| &nbsp;&nbsp;&nbsp;&nbsp; Keurig Dr. Pepper, Inc. | 10100 | (333906) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mama's Creations, Inc. (a) | 300 | (2490) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A | 100700 | (6791208) |
| &nbsp;&nbsp;&nbsp;&nbsp; Oatly Group AB, ADR (a) | 25 | (297) |
| &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings, Inc. (a) | 900 | (98127) |
| &nbsp;&nbsp;&nbsp;&nbsp; Primo Brands Corp. | 100 | (2962) |
| &nbsp;&nbsp;&nbsp;&nbsp; Westrock Coffee Co. (a) | 3000 | (17190) |
|  |  | (9228039) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Health Care Equipment & Services — (0.4)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accuray, Inc. (a) | 1200 | $(1644) |
| &nbsp;&nbsp;&nbsp;&nbsp; AdaptHealth Corp. (a) | 1900 | (17917) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alcon AG | 26800 | (2365904) |
| &nbsp;&nbsp;&nbsp;&nbsp; Align Technology, Inc. (a) | 3200 | (605856) |
| &nbsp;&nbsp;&nbsp;&nbsp; Amedisys, Inc. (a) | 1624 | (159785) |
| &nbsp;&nbsp;&nbsp;&nbsp; AngioDynamics, Inc. (a) | 200 | (1984) |
| &nbsp;&nbsp;&nbsp;&nbsp; Avinger, Inc. (a),(c) | 266 | (126) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bausch & Lomb Corp. (a) | 200 | (2602) |
| &nbsp;&nbsp;&nbsp;&nbsp; Baxter International, Inc. | 3600 | (109008) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookdale Senior Living, Inc. (a) | 1191 | (8289) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bullfrog AI Holdings, Inc. (a) | 2400 | (3624) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cardinal Health, Inc. (b) | 402 | (67536) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cencora, Inc. (b) | 241 | (72264) |
| &nbsp;&nbsp;&nbsp;&nbsp; Claritev Corp. (a) | 605 | (27304) |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearPoint Neuro, Inc. (a) | 1200 | (14328) |
| &nbsp;&nbsp;&nbsp;&nbsp; Clover Health Investments Corp. (a) | 35000 | (97650) |
| &nbsp;&nbsp;&nbsp;&nbsp; Concentra Group Holdings Parent, Inc. | 1500 | (30855) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cooper Cos., Inc. (a) | 500 | (35580) |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. | 122700 | (8463846) |
| &nbsp;&nbsp;&nbsp;&nbsp; Delcath Systems, Inc. (a) | 1200 | (16320) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dentsply Sirona, Inc. | 500 | (7940) |
| &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp. (a) | 900 | (70389) |
| &nbsp;&nbsp;&nbsp;&nbsp; Embecta Corp. | 5900 | (57171) |
| &nbsp;&nbsp;&nbsp;&nbsp; Enovis Corp. (a) | 15800 | (495488) |
| &nbsp;&nbsp;&nbsp;&nbsp; Envista Holdings Corp. (a) | 43100 | (842174) |
| &nbsp;&nbsp;&nbsp;&nbsp; Evolent Health, Inc. (a) | 4800 | (54048) |
| &nbsp;&nbsp;&nbsp;&nbsp; Femasys, Inc. (a) | 1700 | (1642) |
| &nbsp;&nbsp;&nbsp;&nbsp; Firefly Neuroscience, Inc. (a) | 2000 | (5660) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fractyl Health, Inc. (a) | 200 | (324) |
| &nbsp;&nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. | 54200 | (4014594) |
| &nbsp;&nbsp;&nbsp;&nbsp; GeneDx Holdings Corp. (a) | 6601 | (609338) |
| &nbsp;&nbsp;&nbsp;&nbsp; Glaukos Corp. (a) | 5200 | (537108) |
| &nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. (b) | 3093 | (1184928) |
| &nbsp;&nbsp;&nbsp;&nbsp; HealthEquity, Inc. (a) | 1200 | (125712) |
| &nbsp;&nbsp;&nbsp;&nbsp; Henry Schein, Inc. (a) | 4100 | (299505) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hologic, Inc. (a) | 1000 | (65160) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hyperfine, Inc. (a) | 15600 | (11226) |
| &nbsp;&nbsp;&nbsp;&nbsp; ICU Medical, Inc. (a) | 2800 | (370020) |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc. (a) | 2100 | (1126314) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inogen, Inc. (a) | 300 | (2109) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inspire Veterinary Partners, Inc. (a) | 200 | (344) |
| &nbsp;&nbsp;&nbsp;&nbsp; Intelligent Bio Solutions, Inc. (a) | 1400 | (2408) |
| &nbsp;&nbsp;&nbsp;&nbsp; iRhythm Technologies, Inc. (a) | 3400 | (523464) |
| &nbsp;&nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | 2400 | (630024) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc. (a) | 4499 | (368288) |
| &nbsp;&nbsp;&nbsp;&nbsp; Masimo Corp. (a) | 1700 | (285974) |
| &nbsp;&nbsp;&nbsp;&nbsp; Monogram Technologies, Inc. (a) | 900 | (2601) |
| &nbsp;&nbsp;&nbsp;&nbsp; MSP Recovery, Inc. (a) | 104 | (145) |
| &nbsp;&nbsp;&nbsp;&nbsp; NAYA Biosciences, Inc. (a) | 619 | (545) |
| &nbsp;&nbsp;&nbsp;&nbsp; Neogen Corp. (a) | 39600 | (189288) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; NeoGenomics, Inc. (a) | 6100 | $(44591) |
| &nbsp;&nbsp;&nbsp;&nbsp; Orchestra BioMed Holdings, Inc. (a) | 1038 | (2782) |
| &nbsp;&nbsp;&nbsp;&nbsp; Orthofix Medical, Inc. (a) | 694 | (7738) |
| &nbsp;&nbsp;&nbsp;&nbsp; OrthoPediatrics Corp. (a) | 300 | (6444) |
| &nbsp;&nbsp;&nbsp;&nbsp; PDL BioPharma, Inc. (a),(c) | 4500 | (11115) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. (a) | 500 | (7175) |
| &nbsp;&nbsp;&nbsp;&nbsp; Performant Healthcare, Inc. (a) | 1900 | (7600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Phreesia, Inc. (a) | 700 | (19922) |
| &nbsp;&nbsp;&nbsp;&nbsp; Predictive Oncology, Inc. (a) | 23 | (19) |
| &nbsp;&nbsp;&nbsp;&nbsp; Premier, Inc. | 400 | (8772) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pulse Biosciences, Inc. (a) | 202 | (3048) |
| &nbsp;&nbsp;&nbsp;&nbsp; QuidelOrtho Corp. (a) | 7156 | (206236) |
| &nbsp;&nbsp;&nbsp;&nbsp; Quipt Home Medical Corp. (a) | 1500 | (2685) |
| &nbsp;&nbsp;&nbsp;&nbsp; ResMed, Inc. (b) | 1707 | (440406) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rockwell Medical, Inc. (a) | 2436 | (2066) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sanara Medtech, Inc. (a) | 100 | (2839) |
| &nbsp;&nbsp;&nbsp;&nbsp; SeaStar Medical Holding Corp. (a) | 5900 | (2512) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sight Sciences, Inc. (a) | 300 | (1239) |
| &nbsp;&nbsp;&nbsp;&nbsp; Solventum Corp. (a) | 2600 | (197184) |
| &nbsp;&nbsp;&nbsp;&nbsp; Stereotaxis, Inc. (a) | 600 | (1272) |
| &nbsp;&nbsp;&nbsp;&nbsp; Surgery Partners, Inc. (a) | 3900 | (86697) |
| &nbsp;&nbsp;&nbsp;&nbsp; Surmodics, Inc. (a) | 500 | (14855) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tela Bio, Inc. (a) | 2100 | (4074) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tenon Medical, Inc. (a) | 49 | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tivic Health Systems, Inc. (a) | 2 | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Health Services, Inc., Class B | 1200 | (217380) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vivani Medical, Inc. (a) | 466 | (601) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vivos Therapeutics, Inc. (a) | 2200 | (6952) |
| &nbsp;&nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 3300 | (300993) |
|  |  | (25593606) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Household & Personal Products — (0.3)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beauty Health Co. (a) | 14700 | (28077) |
| &nbsp;&nbsp;&nbsp;&nbsp; BellRing Brands, Inc. (a) | 799 | (46286) |
| &nbsp;&nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. | 2300 | (221053) |
| &nbsp;&nbsp;&nbsp;&nbsp; elf Beauty, Inc. (a) | 8100 | (1007964) |
| &nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. | 600 | (12096) |
| &nbsp;&nbsp;&nbsp;&nbsp; Flora Growth Corp. (a) | 1900 | (1102) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kenvue, Inc. | 476400 | (9971052) |
| &nbsp;&nbsp;&nbsp;&nbsp; Safety Shot, Inc. (a) | 3300 | (1089) |
|  |  | (11288719) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Insurance — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Baldwin Insurance Group, Inc. (a) | 400 | (17124) |
| &nbsp;&nbsp;&nbsp;&nbsp; Caret Holdings, Inc. (a) | 2917 | (373288) |
| &nbsp;&nbsp;&nbsp;&nbsp; Enstar Group Ltd. (a) | 200 | (67272) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Financial, Inc. (b) | 1006 | (56396) |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Financial Corp. (b) | 911 | (55926) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hippo Holdings, Inc. (a) | 1024 | (28600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Manulife Financial Corp. | 13100 | (418676) |
| &nbsp;&nbsp;&nbsp;&nbsp; Markel Group, Inc. (a) | 200 | (399472) |
| &nbsp;&nbsp;&nbsp;&nbsp; Old Republic International Corp. (b) | 1149 | (44168) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Sun Life Financial, Inc. | 100 | $(6645) |
|  |  | (1467567) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — (0.3)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Products & Chemicals, Inc. | 7800 | (2200068) |
| &nbsp;&nbsp;&nbsp;&nbsp; Albemarle Corp. (b) | 626 | (39231) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alcoa Corp. | 24100 | (711191) |
| &nbsp;&nbsp;&nbsp;&nbsp; Algoma Steel Group, Inc. | 1700 | (11713) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alpha Metallurgical Resources, Inc. (a) | 400 | (44992) |
| &nbsp;&nbsp;&nbsp;&nbsp; Arq, Inc. (a) | 1100 | (5907) |
| &nbsp;&nbsp;&nbsp;&nbsp; ASP Isotopes, Inc. (a) | 200 | (1472) |
| &nbsp;&nbsp;&nbsp;&nbsp; Avient Corp. | 100 | (3231) |
| &nbsp;&nbsp;&nbsp;&nbsp; Avino Silver & Gold Mines Ltd. (a) | 100 | (360) |
| &nbsp;&nbsp;&nbsp;&nbsp; Century Aluminum Co. (a) | 800 | (14416) |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial Metals Co. | 2300 | (112493) |
| &nbsp;&nbsp;&nbsp;&nbsp; Compass Minerals International, Inc. (a) | 900 | (18081) |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellium SE (a) | 6000 | (79800) |
| &nbsp;&nbsp;&nbsp;&nbsp; Corteva, Inc. (b) | 5980 | (445689) |
| &nbsp;&nbsp;&nbsp;&nbsp; CRH PLC | 3700 | (339660) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dow, Inc. (b) | 6870 | (181918) |
| &nbsp;&nbsp;&nbsp;&nbsp; Element Solutions, Inc. (b) | 10487 | (237531) |
| &nbsp;&nbsp;&nbsp;&nbsp; Endeavour Silver Corp. (a) | 19800 | (97416) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferroglobe PLC | 1100 | (4037) |
| &nbsp;&nbsp;&nbsp;&nbsp; First Majestic Silver Corp. | 20 | (165) |
| &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. (b) | 82542 | (3578196) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hecla Mining Co. | 40 | (240) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hudbay Minerals, Inc. | 15000 | (159150) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingevity Corp. (a) | 600 | (25854) |
| &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. | 14100 | (1037055) |
| &nbsp;&nbsp;&nbsp;&nbsp; International Paper Co. | 300 | (14049) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ivanhoe Electric, Inc. (a) | 7000 | (63490) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. | 500 | (39950) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lithium Argentina AG (a) | 900 | (1872) |
| &nbsp;&nbsp;&nbsp;&nbsp; LyondellBasell Industries NV | 3900 | (225654) |
| &nbsp;&nbsp;&nbsp;&nbsp; MAG Silver Corp. | 6300 | (133119) |
| &nbsp;&nbsp;&nbsp;&nbsp; Magnera Corp. (a) | 3179 | (38402) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mativ Holdings, Inc. | 2400 | (16368) |
| &nbsp;&nbsp;&nbsp;&nbsp; Newmont Corp. | 9900 | (576774) |
| &nbsp;&nbsp;&nbsp;&nbsp; Novagold Resources, Inc. (a) | 1000 | (4090) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nucor Corp. | 900 | (116586) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nutrien Ltd. | 1500 | (87360) |
| &nbsp;&nbsp;&nbsp;&nbsp; Perimeter Solutions, Inc. (a) | 800 | (11136) |
| &nbsp;&nbsp;&nbsp;&nbsp; Perpetua Resources Corp. (a) | 100 | (1214) |
| &nbsp;&nbsp;&nbsp;&nbsp; Piedmont Lithium, Inc. (a) | 4700 | (27354) |
| &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. (b) | 277 | (31509) |
| &nbsp;&nbsp;&nbsp;&nbsp; PureCycle Technologies, Inc. (a) | 24100 | (330170) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ramaco Resources, Inc. | 1800 | (23652) |
| &nbsp;&nbsp;&nbsp;&nbsp; Skeena Resources Ltd. (a) | 1600 | (25472) |
| &nbsp;&nbsp;&nbsp;&nbsp; Smurfit WestRock PLC | 56000 | (2416400) |
| &nbsp;&nbsp;&nbsp;&nbsp; Southern Copper Corp. | 33 | (3339) |
| &nbsp;&nbsp;&nbsp;&nbsp; Standard Lithium Ltd. (a) | 22200 | (43512) |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | 6200 | (793662) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Taseko Mines Ltd. (a) | 4300 | $(13545) |
| &nbsp;&nbsp;&nbsp;&nbsp; TMC the metals Co., Inc. (a) | 21000 | (138600) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Antimony Corp. (a) | 600 | (1308) |
| &nbsp;&nbsp;&nbsp;&nbsp; Warrior Met Coal, Inc. | 4700 | (215401) |
|  |  | (14743854) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Media & Entertainment — (0.5)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Advantage Solutions, Inc. (a) | 6200 | (8184) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C (b) | 3810 | (675856) |
| &nbsp;&nbsp;&nbsp;&nbsp; Angi, Inc. (a) | 8910 | (135967) |
| &nbsp;&nbsp;&nbsp;&nbsp; Atlanta Braves Holdings, Inc., Class C (a) | 1200 | (56124) |
| &nbsp;&nbsp;&nbsp;&nbsp; BuzzFeed, Inc. (a) | 277 | (554) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cable One, Inc. | 300 | (40743) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cargurus, Inc. (a) | 2900 | (97063) |
| &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications, Inc. (a) | 11960 | (4889368) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cineverse Corp. (a) | 1681 | (8035) |
| &nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. (a) | 3800 | (4446) |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. (b) | 19861 | (708839) |
| &nbsp;&nbsp;&nbsp;&nbsp; EchoStar Corp. (a) | 2458 | (68087) |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Arts, Inc. (b) | 1402 | (223899) |
| &nbsp;&nbsp;&nbsp;&nbsp; Emerald Holding, Inc. | 100 | (485) |
| &nbsp;&nbsp;&nbsp;&nbsp; Getty Images Holdings, Inc. (a) | 1200 | (1992) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gray Media, Inc. | 300 | (1359) |
| &nbsp;&nbsp;&nbsp;&nbsp; John Wiley & Sons, Inc. | 1600 | (71408) |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Broadband Corp. (a) | 25700 | (2528366) |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One (a) | 900 | (85464) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lionsgate Studios Corp. (a) | 1308 | (7599) |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. (a),(b) | 2203 | (333270) |
| &nbsp;&nbsp;&nbsp;&nbsp; LQR House, Inc. (a) | 171 | (251) |
| &nbsp;&nbsp;&nbsp;&nbsp; Marcus Corp. (The) | 1600 | (26976) |
| &nbsp;&nbsp;&nbsp;&nbsp; Match Group, Inc. | 17300 | (534397) |
| &nbsp;&nbsp;&nbsp;&nbsp; National CineMedia, Inc. | 12460 | (60369) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nexstar Media Group, Inc. | 1711 | (295917) |
| &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global | 15700 | (202530) |
| &nbsp;&nbsp;&nbsp;&nbsp; PSQ Holdings, Inc. (a) | 700 | (1435) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sinclair, Inc. | 2800 | (38696) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Holdings, Inc. | 19 | (436) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sphere Entertainment Co. (a) | 3900 | (163020) |
| &nbsp;&nbsp;&nbsp;&nbsp; Stagwell, Inc. (a) | 800 | (3600) |
| &nbsp;&nbsp;&nbsp;&nbsp; System1, Inc. (a) | 378 | (2090) |
| &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. (a) | 16300 | (3958455) |
| &nbsp;&nbsp;&nbsp;&nbsp; TEGNA, Inc. | 6100 | (102236) |
| &nbsp;&nbsp;&nbsp;&nbsp; Trade Desk, Inc., Class A (a) | 19900 | (1432601) |
| &nbsp;&nbsp;&nbsp;&nbsp; TripAdvisor, Inc. (a) | 2300 | (30015) |
| &nbsp;&nbsp;&nbsp;&nbsp; TruGolf Holdings, Inc. (a) | 187 | (1070) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vivid Seats, Inc. (a) | 200 | (338) |
| &nbsp;&nbsp;&nbsp;&nbsp; Warner Bros Discovery, Inc. (a) | 241774 | (2770730) |
| &nbsp;&nbsp;&nbsp;&nbsp; WideOpenWest, Inc. (a) | 800 | (3248) |
| &nbsp;&nbsp;&nbsp;&nbsp; Yelp, Inc. (a) | 500 | (17135) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ziff Davis, Inc. (a) | 100 | (3027) |
| &nbsp;&nbsp;&nbsp;&nbsp; ZipRecruiter, Inc. (a) | 300 | (1503) |
|  |  | (19597183) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals, Biotechnology & Life Sciences — (0.8)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. (b) | 1038 | $(192674) |
| &nbsp;&nbsp;&nbsp;&nbsp; Abeona Therapeutics, Inc. (a) | 2628 | (14927) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aceragen, Inc. (a),(c) | 735 | (283) |
| &nbsp;&nbsp;&nbsp;&nbsp; Achieve Life Sciences, Inc. (a) | 700 | (1582) |
| &nbsp;&nbsp;&nbsp;&nbsp; Actinium Pharmaceuticals, Inc. (a) | 186 | (260) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adaptive Biotechnologies Corp. (a) | 2000 | (23300) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adial Pharmaceuticals, Inc. (a) | 32 | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp; AEON Biopharma, Inc. (a) | 1300 | (988) |
| &nbsp;&nbsp;&nbsp;&nbsp; Agenus, Inc. (a) | 7175 | (32790) |
| &nbsp;&nbsp;&nbsp;&nbsp; Akebia Therapeutics, Inc. (a) | 9500 | (34580) |
| &nbsp;&nbsp;&nbsp;&nbsp; Akero Therapeutics, Inc. (a) | 300 | (16008) |
| &nbsp;&nbsp;&nbsp;&nbsp; Akoya Biosciences, Inc. (a) | 3400 | (4420) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aldeyra Therapeutics, Inc. (a) | 500 | (1915) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aligos Therapeutics, Inc. (a) | 1100 | (7931) |
| &nbsp;&nbsp;&nbsp;&nbsp; Allarity Therapeutics, Inc. (a) | 5100 | (5151) |
| &nbsp;&nbsp;&nbsp;&nbsp; Alumis, Inc. (a) | 88 | (264) |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc. | 11200 | (3127152) |
| &nbsp;&nbsp;&nbsp;&nbsp; Arbutus Biopharma Corp. (a) | 1500 | (4635) |
| &nbsp;&nbsp;&nbsp;&nbsp; Arcellx, Inc. (a) | 1200 | (79020) |
| &nbsp;&nbsp;&nbsp;&nbsp; ARS Pharmaceuticals, Inc. (a) | 5300 | (92485) |
| &nbsp;&nbsp;&nbsp;&nbsp; Arvinas, Inc. (a) | 100 | (736) |
| &nbsp;&nbsp;&nbsp;&nbsp; Atara Biotherapeutics, Inc. (a) | 1964 | (15162) |
| &nbsp;&nbsp;&nbsp;&nbsp; aTyr Pharma, Inc. (a) | 3400 | (17238) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aura Biosciences, Inc. (a) | 200 | (1252) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aurora Cannabis, Inc. (a) | 5800 | (24592) |
| &nbsp;&nbsp;&nbsp;&nbsp; Avadel Pharmaceuticals PLC (a) | 7700 | (68145) |
| &nbsp;&nbsp;&nbsp;&nbsp; Avantor, Inc. (a) | 20800 | (279968) |
| &nbsp;&nbsp;&nbsp;&nbsp; Avidity Biosciences, Inc. (a) | 4600 | (130640) |
| &nbsp;&nbsp;&nbsp;&nbsp; Avita Medical, Inc. (a) | 400 | (2116) |
| &nbsp;&nbsp;&nbsp;&nbsp; Axsome Therapeutics, Inc. (a) | 200 | (20878) |
| &nbsp;&nbsp;&nbsp;&nbsp; Azitra, Inc. (a) | 1600 | (418) |
| &nbsp;&nbsp;&nbsp;&nbsp; BioLife Solutions, Inc. (a) | 2400 | (51696) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bionano Genomics, Inc. (a) | 900 | (2952) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bio-Techne Corp. | 2900 | (149205) |
| &nbsp;&nbsp;&nbsp;&nbsp; BioVie, Inc. (a) | 900 | (833) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bioxcel Therapeutics, Inc. (a) | 196 | (355) |
| &nbsp;&nbsp;&nbsp;&nbsp; Black Diamond Therapeutics, Inc. (a) | 17700 | (43896) |
| &nbsp;&nbsp;&nbsp;&nbsp; Blueprint Medicines Corp. (a) | 600 | (76908) |
| &nbsp;&nbsp;&nbsp;&nbsp; BrainStorm Cell Therapeutics, Inc. (a) | 33 | (37) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. (b) | 4339 | (200852) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canopy Growth Corp. (a) | 22880 | (27914) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cardio Diagnostics Holdings, Inc. (a) | 315 | (1134) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cartesian Therapeutics, Inc. (a) | 60 | (623) |
| &nbsp;&nbsp;&nbsp;&nbsp; CASI Pharmaceuticals Holdings, Inc. (a) | 447 | (527) |
| &nbsp;&nbsp;&nbsp;&nbsp; Catalyst Pharmaceuticals, Inc. (a) | 4700 | (101990) |
| &nbsp;&nbsp;&nbsp;&nbsp; cbdMD, Inc. (a) | 30 | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp; CEL-SCI Corp. (a) | 500 | (1145) |
| &nbsp;&nbsp;&nbsp;&nbsp; Centessa Pharmaceuticals PLC, ADR (a) | 6700 | (88038) |
| &nbsp;&nbsp;&nbsp;&nbsp; CG oncology, Inc. (a) | 3500 | (91000) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cibus, Inc. (a) | 1500 | (2070) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Cidara Therapeutics, Inc. (a) | 1555 | $(75744) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cingulate, Inc. (a) | 900 | (3663) |
| &nbsp;&nbsp;&nbsp;&nbsp; Citius Pharmaceuticals, Inc. (a) | 260 | (413) |
| &nbsp;&nbsp;&nbsp;&nbsp; CNS Pharmaceuticals, Inc. (a) | 1791 | (1478) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cogent Biosciences, Inc. (a) | 1500 | (10770) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cognition Therapeutics, Inc. (a) | 3500 | (1084) |
| &nbsp;&nbsp;&nbsp;&nbsp; Coherus Biosciences, Inc. (a) | 3300 | (2413) |
| &nbsp;&nbsp;&nbsp;&nbsp; Compass Therapeutics, Inc. (a) | 4100 | (10660) |
| &nbsp;&nbsp;&nbsp;&nbsp; Conduit Pharmaceuticals, Inc. (a) | 1 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp; CryoPort, Inc. (a) | 300 | (2238) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cue Biopharma, Inc. (a) | 200 | (136) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cybin, Inc. (a) | 500 | (4195) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cytek Biosciences, Inc. (a) | 1200 | (4080) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cytokinetics, Inc. (a) | 3000 | (99120) |
| &nbsp;&nbsp;&nbsp;&nbsp; CytomX Therapeutics, Inc. (a) | 2900 | (6583) |
| &nbsp;&nbsp;&nbsp;&nbsp; Day One Biopharmaceuticals, Inc. (a) | 200 | (1300) |
| &nbsp;&nbsp;&nbsp;&nbsp; Edgewise Therapeutics, Inc. (a) | 2900 | (38019) |
| &nbsp;&nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc. (a) | 37800 | (539784) |
| &nbsp;&nbsp;&nbsp;&nbsp; Eledon Pharmaceuticals, Inc. (a) | 900 | (2439) |
| &nbsp;&nbsp;&nbsp;&nbsp; Enliven Therapeutics, Inc. (a) | 700 | (14042) |
| &nbsp;&nbsp;&nbsp;&nbsp; Entrada Therapeutics, Inc. (a) | 700 | (4704) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ernexa Therapeutics, Inc. (a) | 26 | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp; Exact Sciences Corp. (a) | 26700 | (1418838) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fennec Pharmaceuticals, Inc. (a) | 700 | (5810) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fibrobiologics, Inc. (a) | 3300 | (2053) |
| &nbsp;&nbsp;&nbsp;&nbsp; Foghorn Therapeutics, Inc. (a) | 900 | (4230) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortress Biotech, Inc. (a) | 2080 | (3869) |
| &nbsp;&nbsp;&nbsp;&nbsp; GeoVax Labs, Inc. (a) | 5400 | (4675) |
| &nbsp;&nbsp;&nbsp;&nbsp; Geron Corp. (a) | 49500 | (69795) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 16000 | (1773920) |
| &nbsp;&nbsp;&nbsp;&nbsp; GRI Bio, Inc. (a) | 35 | (45) |
| &nbsp;&nbsp;&nbsp;&nbsp; GSK PLC, ADR (b) | 11396 | (437606) |
| &nbsp;&nbsp;&nbsp;&nbsp; Haleon PLC, ADR | 198100 | (2054297) |
| &nbsp;&nbsp;&nbsp;&nbsp; iBio, Inc. (a) | 5400 | (4121) |
| &nbsp;&nbsp;&nbsp;&nbsp; Illumina, Inc. (a) | 300 | (28623) |
| &nbsp;&nbsp;&nbsp;&nbsp; Immuneering Corp. (a) | 600 | (2022) |
| &nbsp;&nbsp;&nbsp;&nbsp; Immunic, Inc. (a) | 8200 | (5720) |
| &nbsp;&nbsp;&nbsp;&nbsp; Immunovant, Inc. (a) | 500 | (8000) |
| &nbsp;&nbsp;&nbsp;&nbsp; Impact BioMedical, Inc. (a) | 4100 | (2654) |
| &nbsp;&nbsp;&nbsp;&nbsp; IN8bio, Inc. (a) | 300 | (627) |
| &nbsp;&nbsp;&nbsp;&nbsp; Incyte Corp. (a) | 200 | (13620) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inhibikase Therapeutics, Inc. (a) | 600 | (1170) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inhibrx Biosciences, Inc. (a) | 200 | (2854) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inmune Bio, Inc. (a) | 700 | (1617) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inotiv, Inc. (a) | 300 | (546) |
| &nbsp;&nbsp;&nbsp;&nbsp; Inozyme Pharma, Inc. (a) | 700 | (2800) |
| &nbsp;&nbsp;&nbsp;&nbsp; Instil Bio, Inc. (a) | 600 | (12498) |
| &nbsp;&nbsp;&nbsp;&nbsp; Invivyd, Inc. (a) | 16000 | (11440) |
| &nbsp;&nbsp;&nbsp;&nbsp; iTeos Therapeutics, Inc. (a) | 400 | (3988) |
| &nbsp;&nbsp;&nbsp;&nbsp; Iterum Therapeutics PLC (a) | 1413 | (1406) |
| &nbsp;&nbsp;&nbsp;&nbsp; Jaguar Health, Inc. (a) | 19 | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp; Janux Therapeutics, Inc. (a) | 300 | (6930) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Jasper Therapeutics, Inc. (a) | 200 | $(1110) |
| &nbsp;&nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals PLC (a) | 700 | (74284) |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson (b) | 2 | (306) |
| &nbsp;&nbsp;&nbsp;&nbsp; KalVista Pharmaceuticals, Inc. (a) | 4200 | (47481) |
| &nbsp;&nbsp;&nbsp;&nbsp; Karyopharm Therapeutics, Inc. (a) | 333 | (1435) |
| &nbsp;&nbsp;&nbsp;&nbsp; Keros Therapeutics, Inc. (a) | 1500 | (20025) |
| &nbsp;&nbsp;&nbsp;&nbsp; Korro Bio, Inc. (a) | 200 | (2498) |
| &nbsp;&nbsp;&nbsp;&nbsp; Krystal Biotech, Inc. (a) | 1600 | (219936) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lexicon Pharmaceuticals, Inc. (a) | 8800 | (8322) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lifecore Biomedical, Inc. (a) | 300 | (2436) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc. (a) | 100 | (11368) |
| &nbsp;&nbsp;&nbsp;&nbsp; Longeveron, Inc. (a) | 400 | (520) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lyra Therapeutics, Inc. (a) | 70 | (627) |
| &nbsp;&nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals, Inc. (a) | 7500 | (2269800) |
| &nbsp;&nbsp;&nbsp;&nbsp; Matinas BioPharma Holdings, Inc. (a) | 337 | (300) |
| &nbsp;&nbsp;&nbsp;&nbsp; Meiragtx Holdings PLC (a) | 3600 | (23472) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc. (a) | 1100 | (1292192) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mind Medicine MindMed, Inc. (a) | 6 | (39) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mira Pharmaceuticals, Inc. (a) | 100 | (121) |
| &nbsp;&nbsp;&nbsp;&nbsp; Nektar Therapeutics (a) | 440 | (11370) |
| &nbsp;&nbsp;&nbsp;&nbsp; NeuBase Therapeutics, Inc. (a),(c) | 49 | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc. (a) | 1100 | (138259) |
| &nbsp;&nbsp;&nbsp;&nbsp; Neurogene, Inc. (a) | 200 | (2990) |
| &nbsp;&nbsp;&nbsp;&nbsp; Niagen Bioscience, Inc. (a) | 900 | (12969) |
| &nbsp;&nbsp;&nbsp;&nbsp; NRX Pharmaceuticals, Inc. (a) | 11 | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp; Onconetix, Inc. (a) | 125 | (596) |
| &nbsp;&nbsp;&nbsp;&nbsp; Organigram Global, Inc. (a) | 14175 | (19136) |
| &nbsp;&nbsp;&nbsp;&nbsp; Organogenesis Holdings, Inc. (a) | 600 | (2196) |
| &nbsp;&nbsp;&nbsp;&nbsp; ORIC Pharmaceuticals, Inc. (a) | 100 | (1015) |
| &nbsp;&nbsp;&nbsp;&nbsp; Outlook Therapeutics, Inc. (a) | 3810 | (6096) |
| &nbsp;&nbsp;&nbsp;&nbsp; PDS Biotechnology Corp. (a) | 1600 | (2128) |
| &nbsp;&nbsp;&nbsp;&nbsp; PepGen, Inc. (a) | 9600 | (10656) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pfizer, Inc. (b) | 36040 | (873610) |
| &nbsp;&nbsp;&nbsp;&nbsp; Phathom Pharmaceuticals, Inc. (a) | 5400 | (51786) |
| &nbsp;&nbsp;&nbsp;&nbsp; Praxis Precision Medicines, Inc. (a) | 260 | (10933) |
| &nbsp;&nbsp;&nbsp;&nbsp; Precigen, Inc. (a) | 9500 | (13490) |
| &nbsp;&nbsp;&nbsp;&nbsp; Precision BioSciences, Inc. (a) | 1281 | (5380) |
| &nbsp;&nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc. (a) | 300 | (23955) |
| &nbsp;&nbsp;&nbsp;&nbsp; Prime Medicine, Inc. (a) | 400 | (988) |
| &nbsp;&nbsp;&nbsp;&nbsp; Protagonist Therapeutics, Inc. (a) | 13800 | (762726) |
| &nbsp;&nbsp;&nbsp;&nbsp; Protara Therapeutics, Inc. (a) | 800 | (2424) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pyxis Oncology, Inc. (a) | 600 | (660) |
| &nbsp;&nbsp;&nbsp;&nbsp; Qiagen NV (a) | 5700 | (273942) |
| &nbsp;&nbsp;&nbsp;&nbsp; Quantum-Si, Inc. (a) | 4000 | (7840) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reviva Pharmaceuticals Holdings, Inc. (a) | 2600 | (991) |
| &nbsp;&nbsp;&nbsp;&nbsp; REVOLUTION Medicines, Inc. (a) | 45 | (1656) |
| &nbsp;&nbsp;&nbsp;&nbsp; Revvity, Inc. | 800 | (77376) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rezolute, Inc. (a) | 1600 | (7136) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rhythm Pharmaceuticals, Inc. (a) | 5300 | (334907) |
| &nbsp;&nbsp;&nbsp;&nbsp; Roivant Sciences Ltd. (a) | 118500 | (1335495) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sagimet Biosciences, Inc. (a) | 3300 | (25146) |
| &nbsp;&nbsp;&nbsp;&nbsp; Scholar Rock Holding Corp. (a) | 700 | (24794) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; scPharmaceuticals, Inc. (a) | 5000 | $(19050) |
| &nbsp;&nbsp;&nbsp;&nbsp; SCYNEXIS, Inc. (a) | 3600 | (2429) |
| &nbsp;&nbsp;&nbsp;&nbsp; Senti Biosciences, Inc. (a) | 400 | (844) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sera Prognostics, Inc. (a) | 475 | (1316) |
| &nbsp;&nbsp;&nbsp;&nbsp; Seres Therapeutics, Inc. (a) | 1145 | (12721) |
| &nbsp;&nbsp;&nbsp;&nbsp; Shuttle Pharmaceuticals Holdings, Inc. (a) | 100 | (353) |
| &nbsp;&nbsp;&nbsp;&nbsp; SNDL, Inc. (a) | 28340 | (34291) |
| &nbsp;&nbsp;&nbsp;&nbsp; Soleno Therapeutics, Inc. (a) | 6900 | (578082) |
| &nbsp;&nbsp;&nbsp;&nbsp; Solid Biosciences, Inc. (a) | 1027 | (5001) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sotera Health Co. (a) | 1000 | (11120) |
| &nbsp;&nbsp;&nbsp;&nbsp; SpringWorks Therapeutics, Inc. (a) | 25600 | (1202944) |
| &nbsp;&nbsp;&nbsp;&nbsp; Spyre Therapeutics, Inc. (a) | 248 | (3713) |
| &nbsp;&nbsp;&nbsp;&nbsp; Standard BioTools, Inc. (a) | 16100 | (19320) |
| &nbsp;&nbsp;&nbsp;&nbsp; Stoke Therapeutics, Inc. (a) | 100 | (1135) |
| &nbsp;&nbsp;&nbsp;&nbsp; Structure Therapeutics, Inc., ADR (a) | 1800 | (37332) |
| &nbsp;&nbsp;&nbsp;&nbsp; Summit Therapeutics, Inc. (a) | 85900 | (1827952) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tango Therapeutics, Inc. (a) | 1800 | (9216) |
| &nbsp;&nbsp;&nbsp;&nbsp; Taysha Gene Therapies, Inc. (a) | 4400 | (10164) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tempest Therapeutics, Inc. (a) | 527 | (3584) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. (b) | 235 | (95283) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tilray Brands, Inc. (a) | 178222 | (73855) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tonix Pharmaceuticals Holding Corp. (a) | 35 | (1259) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tourmaline Bio, Inc. (a) | 430 | (6876) |
| &nbsp;&nbsp;&nbsp;&nbsp; Trevi Therapeutics, Inc. (a) | 1000 | (5470) |
| &nbsp;&nbsp;&nbsp;&nbsp; TuHURA Biosciences, Inc. (a) | 3600 | (8028) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vaxcyte, Inc. (a) | 14000 | (455140) |
| &nbsp;&nbsp;&nbsp;&nbsp; Veracyte, Inc. (a) | 6000 | (162180) |
| &nbsp;&nbsp;&nbsp;&nbsp; Verrica Pharmaceuticals, Inc. (a) | 600 | (318) |
| &nbsp;&nbsp;&nbsp;&nbsp; Veru, Inc. (a) | 26724 | (15548) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vigil Neuroscience, Inc. (a) | 700 | (5565) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vor BioPharma, Inc. (a) | 21200 | (34344) |
| &nbsp;&nbsp;&nbsp;&nbsp; Voyager Therapeutics, Inc. (a) | 1400 | (4354) |
| &nbsp;&nbsp;&nbsp;&nbsp; vTv Therapeutics, Inc. (a) | 30 | (442) |
| &nbsp;&nbsp;&nbsp;&nbsp; X4 Pharmaceuticals, Inc. (a) | 1750 | (3325) |
| &nbsp;&nbsp;&nbsp;&nbsp; Zevra Therapeutics, Inc. (a) | 7400 | (65194) |
| &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc. | 1500 | (233925) |
| &nbsp;&nbsp;&nbsp;&nbsp; Zymeworks, Inc. (a) | 2400 | (30120) |
|  |  | (24752225) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate — (0.5)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Agree Realty Corp. (b) | 2409 | (176002) |
| &nbsp;&nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. | 5700 | (209418) |
| &nbsp;&nbsp;&nbsp;&nbsp; American Homes 4 Rent, Class A | 700 | (25249) |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. (b) | 414 | (91502) |
| &nbsp;&nbsp;&nbsp;&nbsp; Americold Realty Trust, Inc. | 33300 | (553779) |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple Hospitality REIT, Inc. | 10400 | (121368) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashford Hospitality Trust, Inc. (a) | 1020 | (6140) |
| &nbsp;&nbsp;&nbsp;&nbsp; Braemar Hotels & Resorts, Inc. | 4600 | (11270) |
| &nbsp;&nbsp;&nbsp;&nbsp; BXP, Inc. | 7100 | (479037) |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. (b) | 1298 | (133344) |
| &nbsp;&nbsp;&nbsp;&nbsp; Douglas Emmett, Inc. | 1700 | (25568) |
| &nbsp;&nbsp;&nbsp;&nbsp; Easterly Government Properties, Inc. | 220 | (4884) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity Residential | 6500 | $(438685) |
| &nbsp;&nbsp;&nbsp;&nbsp; Extra Space Storage, Inc. | 11800 | (1739792) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gaming and Leisure Properties, Inc. (b) | 4715 | (220096) |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc. | 6 | (45) |
| &nbsp;&nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc. (b) | 13340 | (233583) |
| &nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. (b) | 169198 | (2598881) |
| &nbsp;&nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. | 100 | (1769) |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Logistics Properties Trust | 400 | (1820) |
| &nbsp;&nbsp;&nbsp;&nbsp; Innovative Industrial Properties, Inc. | 2100 | (115962) |
| &nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain, Inc. (b) | 733 | (75184) |
| &nbsp;&nbsp;&nbsp;&nbsp; JBG SMITH Properties | 500 | (8650) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimco Realty Corp. | 200 | (4204) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kite Realty Group Trust | 7400 | (167610) |
| &nbsp;&nbsp;&nbsp;&nbsp; Macerich Co. | 11800 | (190924) |
| &nbsp;&nbsp;&nbsp;&nbsp; Millrose Properties, Inc. (a) | 1700 | (48467) |
| &nbsp;&nbsp;&nbsp;&nbsp; NexPoint Diversified Real Estate Trust | 354 | (1483) |
| &nbsp;&nbsp;&nbsp;&nbsp; NNN REIT, Inc. (b) | 6260 | (270307) |
| &nbsp;&nbsp;&nbsp;&nbsp; Orion Properties, Inc. | 1700 | (3621) |
| &nbsp;&nbsp;&nbsp;&nbsp; Outfront Media, Inc. | 29996 | (489535) |
| &nbsp;&nbsp;&nbsp;&nbsp; Peakstone Realty Trust | 1500 | (19815) |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | 1100 | (38533) |
| &nbsp;&nbsp;&nbsp;&nbsp; PotlatchDeltic Corp. | 321 | (12317) |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. | 4900 | (515088) |
| &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. (b) | 23437 | (1350206) |
| &nbsp;&nbsp;&nbsp;&nbsp; Regency Centers Corp. | 2000 | (142460) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc. | 2000 | (71140) |
| &nbsp;&nbsp;&nbsp;&nbsp; RLJ Lodging Trust | 500 | (3640) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. (b) | 5659 | (104352) |
| &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 1100 | (176836) |
| &nbsp;&nbsp;&nbsp;&nbsp; SL Green Realty Corp. | 5751 | (355987) |
| &nbsp;&nbsp;&nbsp;&nbsp; Summit Hotel Properties, Inc. | 700 | (3563) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sun Communities, Inc. | 900 | (113841) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sunstone Hotel Investors, Inc. | 20300 | (176204) |
| &nbsp;&nbsp;&nbsp;&nbsp; UDR, Inc. | 1100 | (44913) |
| &nbsp;&nbsp;&nbsp;&nbsp; Urban Edge Properties | 2600 | (48516) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ventas, Inc. | 38 | (2400) |
| &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties, Inc. (b) | 84929 | (2768685) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vornado Realty Trust | 17500 | (669200) |
| &nbsp;&nbsp;&nbsp;&nbsp; Welltower, Inc. | 15900 | (2444307) |
| &nbsp;&nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | 20600 | (529214) |
| &nbsp;&nbsp;&nbsp;&nbsp; WP Carey, Inc. (b) | 9616 | (599846) |
| &nbsp;&nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. | 800 | (10056) |
|  |  | (18649298) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Real Estate Management & Development — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBRE Group, Inc. (a) | 13500 | (1891620) |
| &nbsp;&nbsp;&nbsp;&nbsp; Colliers International Group, Inc. | 800 | (104432) |
| &nbsp;&nbsp;&nbsp;&nbsp; CoStar Group, Inc. (a) | 2519 | (202528) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cushman & Wakefield PLC (a) | 5600 | (61992) |
| &nbsp;&nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc. (a) | 3000 | (767340) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kennedy-Wilson Holdings, Inc. | 4000 | (27200) |
| &nbsp;&nbsp;&nbsp;&nbsp; La Rosa Holdings Corp. (a) | 300 | (39) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Brokerage, Inc. (a) | 1100 | $(4961) |
| &nbsp;&nbsp;&nbsp;&nbsp; Safe & Green Development Corp. (a) | 5 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp; Seaport Entertainment Group, Inc. (a) | 200 | (3748) |
|  |  | (3063864) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Retailing — (0.7)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Academy Sports & Outdoors, Inc. | 3600 | (161316) |
| &nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. (a) | 800 | (190832) |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc. (a) | 200 | (742446) |
| &nbsp;&nbsp;&nbsp;&nbsp; BARK, Inc. (a) | 7900 | (6948) |
| &nbsp;&nbsp;&nbsp;&nbsp; Barnes & Noble Education, Inc. (a) | 4835 | (56908) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. | 5400 | (161784) |
| &nbsp;&nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | 4000 | (268520) |
| &nbsp;&nbsp;&nbsp;&nbsp; Boot Barn Holdings, Inc. (a) | 6700 | (1018400) |
| &nbsp;&nbsp;&nbsp;&nbsp; Burlington Stores, Inc. (a) | 11000 | (2559040) |
| &nbsp;&nbsp;&nbsp;&nbsp; Children's Place, Inc. (a) | 700 | (3101) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dick's Sporting Goods, Inc. | 2600 | (514306) |
| &nbsp;&nbsp;&nbsp;&nbsp; eBay, Inc. | 3800 | (282948) |
| &nbsp;&nbsp;&nbsp;&nbsp; Express, Inc. (a) | 0 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp; Foot Locker, Inc. (a) | 24400 | (597800) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gap, Inc. | 1300 | (28353) |
| &nbsp;&nbsp;&nbsp;&nbsp; Genuine Parts Co. | 7400 | (897694) |
| &nbsp;&nbsp;&nbsp;&nbsp; Greenlane Holdings, Inc. (a) | 300 | (1590) |
| &nbsp;&nbsp;&nbsp;&nbsp; GrowGeneration Corp. (a) | 200 | (187) |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. | 4500 | (1649880) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lands' End, Inc. (a) | 300 | (3213) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lithia Motors, Inc. | 100 | (33782) |
| &nbsp;&nbsp;&nbsp;&nbsp; LKQ Corp. | 10700 | (396007) |
| &nbsp;&nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 400 | (162720) |
| &nbsp;&nbsp;&nbsp;&nbsp; Newegg Commerce, Inc. (a) | 1595 | (25903) |
| &nbsp;&nbsp;&nbsp;&nbsp; OneWater Marine, Inc. (a) | 1000 | (13390) |
| &nbsp;&nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc. (a) | 17900 | (1613327) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pool Corp. | 6700 | (1952916) |
| &nbsp;&nbsp;&nbsp;&nbsp; Revolve Group, Inc. (a) | 200 | (4010) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 900 | (114822) |
| &nbsp;&nbsp;&nbsp;&nbsp; RumbleON, Inc. (a) | 1649 | (3809) |
| &nbsp;&nbsp;&nbsp;&nbsp; Savers Value Village, Inc. (a) | 800 | (8160) |
| &nbsp;&nbsp;&nbsp;&nbsp; Signet Jewelers Ltd. | 13900 | (1105745) |
| &nbsp;&nbsp;&nbsp;&nbsp; Stitch Fix, Inc. (a) | 3100 | (11470) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tractor Supply Co. | 25800 | (1361466) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc. (a) | 12800 | (5988096) |
| &nbsp;&nbsp;&nbsp;&nbsp; Upbound Group, Inc. | 400 | (10040) |
| &nbsp;&nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 4200 | (686154) |
|  |  | (22637086) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Semiconductors & Semiconductor Equipment — (0.8)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ACM Research, Inc. (a) | 1900 | (49210) |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. (a) | 56800 | (8059920) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ambarella, Inc. (a) | 100 | (6607) |
| &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 3200 | (761664) |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 200 | (36614) |
| &nbsp;&nbsp;&nbsp;&nbsp; ARM Holdings PLC, ADR (a),(b) | 33540 | (5424760) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ascent Solar Technologies, Inc. (a) | 200 | (528) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Atomera, Inc. (a) | 500 | $(2520) |
| &nbsp;&nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc. (a) | 400 | (27876) |
| &nbsp;&nbsp;&nbsp;&nbsp; Blaize Holdings, Inc. (a) | 500 | (1490) |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 1300 | (358345) |
| &nbsp;&nbsp;&nbsp;&nbsp; Datavault AI, Inc. (a) | 2000 | (1345) |
| &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc. (a),(b) | 6872 | (272475) |
| &nbsp;&nbsp;&nbsp;&nbsp; Entegris, Inc. (b) | 9802 | (790531) |
| &nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc. (a) | 36400 | (6025656) |
| &nbsp;&nbsp;&nbsp;&nbsp; GCT Semiconductor Holding, Inc. (a) | 2700 | (4023) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ichor Holdings Ltd. (a) | 200 | (3928) |
| &nbsp;&nbsp;&nbsp;&nbsp; KLA Corp. | 100 | (89574) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kopin Corp. (a) | 2100 | (3213) |
| &nbsp;&nbsp;&nbsp;&nbsp; Marvell Technology, Inc. | 2300 | (178020) |
| &nbsp;&nbsp;&nbsp;&nbsp; Maxeon Solar Technologies Ltd. (a) | 79 | (242) |
| &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc. (b) | 21845 | (2692396) |
| &nbsp;&nbsp;&nbsp;&nbsp; MKS, Inc. | 3900 | (387504) |
| &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 2200 | (1609036) |
| &nbsp;&nbsp;&nbsp;&nbsp; Navitas Semiconductor Corp. (a) | 65200 | (427060) |
| &nbsp;&nbsp;&nbsp;&nbsp; POET Technologies, Inc. (a) | 2800 | (14588) |
| &nbsp;&nbsp;&nbsp;&nbsp; Qorvo, Inc. (a) | 100 | (8491) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rigetti Computing, Inc. (a) | 5300 | (62858) |
| &nbsp;&nbsp;&nbsp;&nbsp; SiTime Corp. (a) | 400 | (85232) |
| &nbsp;&nbsp;&nbsp;&nbsp; SkyWater Technology, Inc. (a) | 1500 | (14760) |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc. (b) | 452 | (93844) |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Display Corp. | 100 | (15446) |
|  |  | (27509756) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — (0.9)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adeia, Inc. | 1000 | (14140) |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilysys, Inc. (a) | 100 | (11464) |
| &nbsp;&nbsp;&nbsp;&nbsp; Airship AI Holdings, Inc. (a) | 1460 | (8599) |
| &nbsp;&nbsp;&nbsp;&nbsp; ANSYS, Inc. (a) | 3300 | (1159026) |
| &nbsp;&nbsp;&nbsp;&nbsp; Appfolio, Inc. (a) | 400 | (92112) |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Digital Corp. (a) | 67800 | (682746) |
| &nbsp;&nbsp;&nbsp;&nbsp; ASGN, Inc. (a) | 500 | (24965) |
| &nbsp;&nbsp;&nbsp;&nbsp; Auddia, Inc. (a) | 123 | (695) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aurora Innovation, Inc. (a) | 100700 | (527668) |
| &nbsp;&nbsp;&nbsp;&nbsp; Autodesk, Inc. (a) | 1000 | (309570) |
| &nbsp;&nbsp;&nbsp;&nbsp; BigBear.ai Holdings, Inc. (a) | 21307 | (144675) |
| &nbsp;&nbsp;&nbsp;&nbsp; BigCommerce Holdings, Inc. (a) | 300 | (1500) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bio-key International, Inc. (a) | 9 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bit Digital, Inc. (a) | 17700 | (38763) |
| &nbsp;&nbsp;&nbsp;&nbsp; Bitdeer Technologies Group (a) | 23300 | (267484) |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackLine, Inc. (a) | 700 | (39634) |
| &nbsp;&nbsp;&nbsp;&nbsp; Braze, Inc. (a) | 13400 | (376540) |
| &nbsp;&nbsp;&nbsp;&nbsp; C3.ai, Inc. (a) | 12300 | (302211) |
| &nbsp;&nbsp;&nbsp;&nbsp; CCC Intelligent Solutions Holdings, Inc. (a) | 59100 | (556131) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cerence, Inc. (a) | 4900 | (50029) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cleanspark, Inc. (a) | 86300 | (951889) |
| &nbsp;&nbsp;&nbsp;&nbsp; Clearwater Analytics Holdings, Inc. (a) | 600 | (13158) |
| &nbsp;&nbsp;&nbsp;&nbsp; Confluent, Inc. (a) | 17000 | (423810) |
| &nbsp;&nbsp;&nbsp;&nbsp; Consensus Cloud Solutions, Inc. (a) | 400 | (9224) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc. (a),(b) | 491 | $(250071) |
| &nbsp;&nbsp;&nbsp;&nbsp; CXApp, Inc. (a) | 7000 | (7490) |
| &nbsp;&nbsp;&nbsp;&nbsp; CYNGN, Inc. (a) | 1600 | (23040) |
| &nbsp;&nbsp;&nbsp;&nbsp; Digimarc Corp. (a) | 800 | (10568) |
| &nbsp;&nbsp;&nbsp;&nbsp; Docusign, Inc. (a) | 4300 | (334927) |
| &nbsp;&nbsp;&nbsp;&nbsp; Domo, Inc. (a) | 1200 | (16764) |
| &nbsp;&nbsp;&nbsp;&nbsp; D-Wave Quantum, Inc. (a) | 25400 | (371856) |
| &nbsp;&nbsp;&nbsp;&nbsp; E2open Parent Holdings, Inc. (a) | 25100 | (81073) |
| &nbsp;&nbsp;&nbsp;&nbsp; EverCommerce, Inc. (a) | 600 | (6300) |
| &nbsp;&nbsp;&nbsp;&nbsp; Fortinet, Inc. (a),(b) | 1548 | (163655) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gartner, Inc. (a),(b) | 222 | (89737) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 17700 | (520380) |
| &nbsp;&nbsp;&nbsp;&nbsp; Globant SA (a) | 700 | (63588) |
| &nbsp;&nbsp;&nbsp;&nbsp; Greenidge Generation Holdings, Inc. (a) | 2730 | (3522) |
| &nbsp;&nbsp;&nbsp;&nbsp; Gryphon Digital Mining, Inc. (a) | 24400 | (21504) |
| &nbsp;&nbsp;&nbsp;&nbsp; HUT 8 Corp. (a) | 32400 | (602640) |
| &nbsp;&nbsp;&nbsp;&nbsp; I3 Verticals, Inc. (a) | 400 | (10992) |
| &nbsp;&nbsp;&nbsp;&nbsp; Informatica, Inc., Class A (a) | 16200 | (394470) |
| &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines Corp. | 9700 | (2859366) |
| &nbsp;&nbsp;&nbsp;&nbsp; Jamf Holding Corp. (a) | 200 | (1902) |
| &nbsp;&nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc. (a) | 4700 | (197212) |
| &nbsp;&nbsp;&nbsp;&nbsp; Life360, Inc. (a) | 1900 | (123975) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lightspeed Commerce, Inc. (a) | 8100 | (94851) |
| &nbsp;&nbsp;&nbsp;&nbsp; MARA Holdings, Inc. (a) | 94911 | (1488204) |
| &nbsp;&nbsp;&nbsp;&nbsp; Marin Software, Inc. (a) | 33 | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp; Meridianlink, Inc. (a) | 100 | (1623) |
| &nbsp;&nbsp;&nbsp;&nbsp; MicroAlgo, Inc. (a) | 8202 | (4176) |
| &nbsp;&nbsp;&nbsp;&nbsp; MicroCloud Hologram, Inc. (a) | 1367 | (6671) |
| &nbsp;&nbsp;&nbsp;&nbsp; MicroStrategy, Inc. (a),(b) | 11485 | (4642582) |
| &nbsp;&nbsp;&nbsp;&nbsp; nCino, Inc. (a) | 2600 | (72722) |
| &nbsp;&nbsp;&nbsp;&nbsp; NCR Voyix Corp. (a) | 3700 | (43401) |
| &nbsp;&nbsp;&nbsp;&nbsp; NextNav, Inc. (a) | 1900 | (28880) |
| &nbsp;&nbsp;&nbsp;&nbsp; Okta, Inc. (a) | 5900 | (589823) |
| &nbsp;&nbsp;&nbsp;&nbsp; Onestream, Inc. (a) | 400 | (11320) |
| &nbsp;&nbsp;&nbsp;&nbsp; Open Text Corp. | 1700 | (49640) |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | 2600 | (568438) |
| &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc. (a),(b) | 709 | (145090) |
| &nbsp;&nbsp;&nbsp;&nbsp; Phunware, Inc. (a) | 6852 | (21721) |
| &nbsp;&nbsp;&nbsp;&nbsp; Procore Technologies, Inc. (a) | 21500 | (1471030) |
| &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc. (a) | 1200 | (206808) |
| &nbsp;&nbsp;&nbsp;&nbsp; reAlpha Tech Corp. (a) | 1800 | (550) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rekor Systems, Inc. (a) | 27900 | (32364) |
| &nbsp;&nbsp;&nbsp;&nbsp; Roadzen, Inc. (a) | 1100 | (1078) |
| &nbsp;&nbsp;&nbsp;&nbsp; SailPoint, Inc. (a),(b) | 4623 | (105682) |
| &nbsp;&nbsp;&nbsp;&nbsp; SentinelOne, Inc., Class A (a),(b) | 2740 | (50087) |
| &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc. (a) | 1500 | (1542120) |
| &nbsp;&nbsp;&nbsp;&nbsp; ServiceTitan, Inc. (a) | 200 | (21436) |
| &nbsp;&nbsp;&nbsp;&nbsp; Shopify, Inc. (a) | 72530 | (8366335) |
| &nbsp;&nbsp;&nbsp;&nbsp; Silvaco Group, Inc. (a) | 400 | (1888) |
| &nbsp;&nbsp;&nbsp;&nbsp; Soluna Holdings, Inc. (a) | 2900 | (1670) |
| &nbsp;&nbsp;&nbsp;&nbsp; SoundHound AI, Inc., Class A (a) | 125500 | (1346615) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sphere 3D Corp. (a) | 2714 | (1602) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprinklr, Inc. (a) | 1100 | $(9306) |
| &nbsp;&nbsp;&nbsp;&nbsp; Synopsys, Inc. (a) | 7600 | (3896368) |
| &nbsp;&nbsp;&nbsp;&nbsp; Thumzup Media Corp. (a) | 200 | (1402) |
| &nbsp;&nbsp;&nbsp;&nbsp; TSS, Inc. (a) | 300 | (8649) |
| &nbsp;&nbsp;&nbsp;&nbsp; Urgent.ly, Inc. (a) | 200 | (1280) |
| &nbsp;&nbsp;&nbsp;&nbsp; Varonis Systems, Inc. (a),(b) | 634 | (32175) |
| &nbsp;&nbsp;&nbsp;&nbsp; VeriSign, Inc. (b) | 101 | (29169) |
| &nbsp;&nbsp;&nbsp;&nbsp; Veritone, Inc. (a) | 500 | (630) |
|  |  | (37058488) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Technology Hardware & Equipment — (0.8)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 908 Devices, Inc. (a) | 2800 | (19964) |
| &nbsp;&nbsp;&nbsp;&nbsp; AEye, Inc. (a) | 3270 | (3368) |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp., Class A (b) | 1777 | (175479) |
| &nbsp;&nbsp;&nbsp;&nbsp; Arista Networks, Inc. (a),(b) | 895 | (91567) |
| &nbsp;&nbsp;&nbsp;&nbsp; Arlo Technologies, Inc. (a) | 400 | (6784) |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrow Electronics, Inc. (a) | 300 | (38229) |
| &nbsp;&nbsp;&nbsp;&nbsp; Avnet, Inc. | 300 | (15924) |
| &nbsp;&nbsp;&nbsp;&nbsp; CDW Corp. | 200 | (35718) |
| &nbsp;&nbsp;&nbsp;&nbsp; Celestica, Inc. (a) | 37000 | (5776070) |
| &nbsp;&nbsp;&nbsp;&nbsp; Clearfield, Inc. (a) | 1600 | (69456) |
| &nbsp;&nbsp;&nbsp;&nbsp; Coherent Corp. (a) | 19400 | (1730674) |
| &nbsp;&nbsp;&nbsp;&nbsp; Corning, Inc. | 3400 | (178806) |
| &nbsp;&nbsp;&nbsp;&nbsp; Corsair Gaming, Inc. (a) | 300 | (2829) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dell Technologies, Inc. (b) | 449 | (55047) |
| &nbsp;&nbsp;&nbsp;&nbsp; Digital Ally, Inc. (a) | 500 | (1190) |
| &nbsp;&nbsp;&nbsp;&nbsp; Flex Ltd. (a) | 41600 | (2076672) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 43900 | (897755) |
| &nbsp;&nbsp;&nbsp;&nbsp; HP, Inc. | 10600 | (259276) |
| &nbsp;&nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. (a) | 700 | (96659) |
| &nbsp;&nbsp;&nbsp;&nbsp; IonQ, Inc. (a) | 48000 | (2062560) |
| &nbsp;&nbsp;&nbsp;&nbsp; Knowles Corp. (a) | 500 | (8810) |
| &nbsp;&nbsp;&nbsp;&nbsp; LightPath Technologies, Inc., Class A (a) | 1900 | (5852) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lightwave Logic, Inc. (a) | 6400 | (7936) |
| &nbsp;&nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc. (a) | 11900 | (1131214) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mirion Technologies, Inc. (a) | 19600 | (421988) |
| &nbsp;&nbsp;&nbsp;&nbsp; MultiSensor AI Holdings, Inc. (a) | 1553 | (929) |
| &nbsp;&nbsp;&nbsp;&nbsp; Neonode, Inc. (a) | 3000 | (76500) |
| &nbsp;&nbsp;&nbsp;&nbsp; NETGEAR, Inc. (a) | 2000 | (58140) |
| &nbsp;&nbsp;&nbsp;&nbsp; Novanta, Inc. (a) | 1100 | (141823) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ondas Holdings, Inc. (a) | 11000 | (21120) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ouster, Inc. (a) | 4970 | (120522) |
| &nbsp;&nbsp;&nbsp;&nbsp; Powerfleet, Inc. NJ (a) | 12300 | (53013) |
| &nbsp;&nbsp;&nbsp;&nbsp; Red Cat Holdings, Inc. (a) | 19501 | (141967) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sandisk Corp. (a) | 23100 | (1047585) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sanmina Corp. (a) | 900 | (88047) |
| &nbsp;&nbsp;&nbsp;&nbsp; SmartRent, Inc. (a) | 800 | (792) |
| &nbsp;&nbsp;&nbsp;&nbsp; Super Micro Computer, Inc. (a) | 184000 | (9017840) |
| &nbsp;&nbsp;&nbsp;&nbsp; Syntec Optics Holdings, Inc. (a) | 9 | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp; TD SYNNEX Corp. | 700 | (94990) |
| &nbsp;&nbsp;&nbsp;&nbsp; Trimble, Inc. (a) | 8600 | (653428) |
| &nbsp;&nbsp;&nbsp;&nbsp; Turtle Beach Corp. (a) | 1600 | (22128) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Ubiquiti, Inc. | 600 | $(246990) |
| &nbsp;&nbsp;&nbsp;&nbsp; Unusual Machines, Inc. (a) | 6800 | (58276) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vontier Corp. | 2400 | (88560) |
|  |  | (27102489) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Telecommunication Services — (0.4)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AST SpaceMobile, Inc. (a) | 65600 | (3065488) |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. | 178500 | (5165790) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cogent Communications Holdings, Inc. | 300 | (14463) |
| &nbsp;&nbsp;&nbsp;&nbsp; Frontier Communications Parent, Inc. (a) | 61800 | (2249520) |
| &nbsp;&nbsp;&nbsp;&nbsp; Globalstar, Inc. (a) | 1347 | (31722) |
| &nbsp;&nbsp;&nbsp;&nbsp; Liberty Latin America Ltd. (a) | 7400 | (46028) |
| &nbsp;&nbsp;&nbsp;&nbsp; Millicom International Cellular SA | 1100 | (41217) |
| &nbsp;&nbsp;&nbsp;&nbsp; SurgePays, Inc. (a) | 200 | (624) |
| &nbsp;&nbsp;&nbsp;&nbsp; Telephone & Data Systems, Inc. | 24500 | (871710) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Cellular Corp. (a) | 2000 | (127940) |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. (b) | 18894 | (817543) |
|  |  | (12432045) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Transportation — (0.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel Co. | 700 | (38465) |
| &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group, Inc. (a),(b) | 5794 | (65009) |
| &nbsp;&nbsp;&nbsp;&nbsp; Blade Air Mobility, Inc. (a) | 5700 | (22971) |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Kansas City Ltd. | 48830 | (3870754) |
| &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp. | 11700 | (381771) |
| &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. (b) | 922 | (45344) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc. | 500 | (57125) |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Air Corp. (a) | 2000 | (49080) |
| &nbsp;&nbsp;&nbsp;&nbsp; FTAI Infrastructure, Inc. | 3700 | (22829) |
| &nbsp;&nbsp;&nbsp;&nbsp; GXO Logistics, Inc. (a) | 1800 | (87660) |
| &nbsp;&nbsp;&nbsp;&nbsp; Joby Aviation, Inc. (a) | 179000 | (1888450) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mesa Air Group, Inc. (a) | 300 | (279) |
| &nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 1200 | (307164) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pangaea Logistics Solutions Ltd. | 200 | (940) |
| &nbsp;&nbsp;&nbsp;&nbsp; Proficient Auto Logistics, Inc. (a) | 100 | (726) |
| &nbsp;&nbsp;&nbsp;&nbsp; RXO, Inc. (a) | 10100 | (158772) |
| &nbsp;&nbsp;&nbsp;&nbsp; SkyWest, Inc. (a) | 600 | (61782) |
| &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Co. | 12000 | (389280) |
| &nbsp;&nbsp;&nbsp;&nbsp; Surf Air Mobility, Inc. (a) | 11671 | (43066) |
| &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. (a) | 8600 | (684818) |
| &nbsp;&nbsp;&nbsp;&nbsp; Volato Group, Inc. (a) | 24 | (31) |
| &nbsp;&nbsp;&nbsp;&nbsp; Wheels Up Experience, Inc. (a) | 10 | (11) |
|  |  | (8176327) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Utilities — (0.3)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp. | 27000 | (154710) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Infrastructure Corp. | 7800 | (324480) |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Renewable Corp. | 15300 | (501534) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cadiz, Inc. (a) | 3946 | (11799) |
| &nbsp;&nbsp;&nbsp;&nbsp; Constellation Energy Corp. | 17500 | (5648300) |
| &nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. | 1200 | (52104) |
| &nbsp;&nbsp;&nbsp;&nbsp; Montauk Renewables, Inc. (a) | 900 | (1998) |
| &nbsp;&nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 5100 | (818958) |
| &nbsp;&nbsp;&nbsp;&nbsp; Oklo, Inc. (a) | 47900 | (2681921) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Southwest Gas Holdings, Inc. | 2200 | $(163658) |
| &nbsp;&nbsp;&nbsp;&nbsp; TXNM Energy, Inc. | 1700 | (95744) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp. | 3500 | (678335) |
|  |  | (11133541) |
|  **Total North America** |  | **(614364909)** |
|  **Oceania — (0.1)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Energy — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Heidmar Maritime Holdings Corp. (a) | 3 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp; Woodside Energy Group Ltd., ADR | 1500 | (23145) |
|  |  | (23150) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BHP Group Ltd., ADR | 38100 | (1832229) |
| &nbsp;&nbsp;&nbsp;&nbsp; MAC Copper Ltd. (a) | 700 | (8463) |
|  |  | (1840692) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Pharmaceuticals, Biotechnology & Life Sciences — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alterity Therapeutics Ltd., ADR (a) | 10 | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Software & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; IREN Ltd. (a) | 59500 | (866915) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mawson Infrastructure Group, Inc. (a) | 66 | (25) |
|  |  | (866940) |
|  **Total Oceania** |  | **(2730823)** |
|  **South America — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Capital Goods — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Embraer SA, ADR | 100 | (5691) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Consumer Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Arcos Dorados Holdings, Inc. | 37 | (292) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Diversified Financials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; StoneCo Ltd. (a) | 12900 | (206916) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Health Care Equipment & Services — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Establishment Labs Holdings, Inc. (a) | 500 | (21355) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Materials — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bioceres Crop Solutions Corp. (a) | 1700 | (7599) |
| &nbsp;&nbsp;&nbsp;&nbsp; Braskem SA, ADR (a) | 2700 | (8856) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cia Siderurgica Nacional SA, ADR | 200 | (280) |
| &nbsp;&nbsp;&nbsp;&nbsp; ERO Copper Corp. (a) | 3200 | (53920) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sigma Lithium Corp. (a) | 23200 | (104400) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sociedad Quimica y Minera de Chile SA, ADR (a) | 1700 | (59959) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vale SA, ADR | 400 | (3884) |
|  |  | (238898) |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Utilities — 0.0%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cia de Saneamento Basico do Estado de Sao Paulo SABESP, ADR | 3600 | (79092) |
| &nbsp;&nbsp;&nbsp;&nbsp; Pampa Energia SA, ADR (a) | 100 | (6938) |
|  |  | (86030) |
|  **Total South America** |  | **(559182)** |
|  **TOTAL COMMON STOCK<br>(PROCEEDS $628,056,308)** |  | **(674664674)** |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
|  **CORPORATE BONDS AND NOTES — (0.7)%** |  |  |
|  **Africa — (0.1)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Chemicals — (0.1)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sasol Financing USA LLC, 4.38%, 09/18/26 (b) | $3582000 | $(3525282) |
|  **Total Africa** |  | **(3525282)** |
|  **Middle East — (0.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Construction Materials — (0.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sisecam U.K. PLC, 8.25%, 05/02/29 (b),(i) | 483000 | (488783) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sisecam U.K. PLC, 8.63%, 05/02/32 (b),(i) | 5163000 | (5217810) |
|  |  | (5706593) |
|  **Total Middle East** |  | **(5706593)** |
|  **South America — (0.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Mining — (0.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Corp. Nacional del Cobre de Chile, 6.44%, 01/26/36 (b),(i) | 5508000 | (5761559) |
|  **Total South America** |  | **(5761559)** |
|  **Supranational — (0.2)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>Multi-National — (0.2)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; African Export-Import Bank, 3.80%, 05/17/31 (b),(i) | 2386000 | (2060645) |
| &nbsp;&nbsp;&nbsp;&nbsp; African Export-Import Bank, 3.99%, 09/21/29 (b),(i) | 1824000 | (1673520) |
|  |  | (3734165) |
|  **Total Supranational** |  | **(3734165)** |
|  **TOTAL CORPORATE BONDS AND NOTES<br>(PROCEEDS $18,636,385)** |  | **(18727599)** |
|  | **Shares** |  |
|  **EXCHANGE-TRADED FUNDS — (0.8)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy Select Sector SPDR Fund (b) | 15644 | (1326768) |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Select Sector SPDR Fund (b) | 1587 | (213912) |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial Select Sector SPDR Fund (b) | 931 | (137341) |
| &nbsp;&nbsp;&nbsp;&nbsp; iShares Expanded Tech-Software Sector ETF (a),(b) | 32022 | (3506409) |
| &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI Taiwan ETF (b) | 252 | (14465) |
| &nbsp;&nbsp;&nbsp;&nbsp; Materials Select Sector SPDR Fund (b) | 1734 | (152263) |
| &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust | 36095 | (22301296) |
| &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P Biotech ETF (b) | 2958 | (245307) |
| &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P Oil & Gas Exploration & Production ETF (b) | 5764 | (725111) |
| &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P Regional Banking ETF (b) | 1304 | (77445) |
| &nbsp;&nbsp;&nbsp;&nbsp; VanEck Oil Services ETF (b) | 356 | (81983) |
| &nbsp;&nbsp;&nbsp;&nbsp; Vanguard Real Estate ETF (b) | 772 | (68754) |
|  **TOTAL EXCHANGE-TRADED FUNDS<br>(PROCEEDS $27,823,685)** |  | **(28851054)** |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal<br>Amount** | **Value** |
|  **MORTGAGE BACKED SECURITIES — (2.7)%** |  |  |
|  **North America — (2.7)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *<u>U.S. Government Sponsored Agency Security — (2.7)%</u>* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Security, TBA, 5.00%, 07/13/74 (b),(l) | $102000000 | $(99987846) |
|  **Total North America** |  | **(99987846)** |
|  **TOTAL MORTGAGE BACKED SECURITIES<br>(PROCEEDS $98,819,922)** |  | **(99987846)** |
|  **SOVEREIGN DEBT — (1.6)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bahrain Government International Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/16/32 (b),(i) | 4035000 | (3744537) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/05/32 (b),(i) | 7453000 | (7447933) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/12/31 (b),(i) | 4050000 | (4091350) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 07/07/37 (b),(i) | 4804000 | (4853186) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominican Republic International Bonds, 6.00%, 02/22/33 (b),(i) | 961000 | (947930) |
| &nbsp;&nbsp;&nbsp;&nbsp; Israel Government International Bonds, 5.63%, 02/19/35 (b) | 7205000 | (7322063) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico Government International Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/09/35 (b) | 9985000 | (10198180) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 05/13/37 (b) | 8000000 | (8338400) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 05/13/55 (b) | 4865000 | (5014550) |
| &nbsp;&nbsp;&nbsp;&nbsp; Saudi Government International Bonds, 5.38%, 01/13/31 (b),(i) | 6650000 | (6893111) |
|  **TOTAL SOVEREIGN DEBT<br>(PROCEEDS $57,558,996)** |  | **(58851240)** |
|  **U.S. TREASURY OBLIGATIONS — (0.1)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Inflation-Indexed Notes 2.13%,01/15/35 | 1423100 | $(1446317) |
|  **TOTAL U.S. TREASURY OBLIGATIONS<br>(PROCEEDS $1,422,595)** |  | **(1446317)** |
|  | **Shares** |  |
|  **WARRANTS — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Galectin Therapeutics, Inc. (a),(c) | 1340 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pulse Biosciences, Inc. (a),(c) | 68 | 0 |
|  **TOTAL WARRANTS<br>(PROCEEDS $0)** |  | **0** |
|  **RIGHTS — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NeuroBo Pharmaceuticals, Inc. (a),(c) | 92 | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp; Catalyst Biosciences, Inc. (a),(c) | 4600 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sesen Bio, Inc. (a),(c) | 25568 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novusterra, Inc. (a),(c) | 383 | 0 |
|  **TOTAL RIGHTS<br>(PROCEEDS $541)** |  | **(29)** |
|  **TOTAL SECURITIES SOLD SHORT — (23.5)%<br>(PROCEEDS $832,318,432)** |  | $**(882528759)** |

---

**Footnote Legend:** 

---

| | |
|:---|:---|
| ^ | A balance indicated with a "0", reflects either a zero balance or an amount that rounds to less than 1.  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Security is held by a consolidated wholly-owned subsidiary of Blackstone Alternative Multi-Strategy Fund.

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;(c) Security is valued using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended.
Security may only be sold to qualified institutional buyers unless registered under the Securities Act of 1933, as amended, or otherwise exempt from registration.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Variable/Floating interest rate security. Certain variable/floating interest rate securities are not based on a
published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities may not indicate a reference rate and spread in their description above. Rate presented is as of June 30,
2025. &nbsp;&nbsp;&nbsp;&nbsp;(f) Non-interest bearing bond.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Represents a step-up bond. Coupon rate increases in increments to maturity. Rate presented is as of June 30,
2025. Maturity date presented is the ultimate maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Security is an Interest Only (IO) bond, which represents the "interest only" portion of payments on
a pool of underlying mortgages or mortgage-backed securities. IO securities are subject to prepayment risk of the pool of underlying mortgages.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Security is exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended.
Security may only be offered or sold outside of the Unites States unless registered under the Securities Act of 1933, as amended, or otherwise exempt from registration.

&nbsp;&nbsp;&nbsp;&nbsp;(j) All or a portion of the security represents an unsettled loan commitment at June 30, 2025 where the rate will be
determined at time of settlement.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Security is currently in default due to bankruptcy or failure to make payment of principal or interest.

&nbsp;&nbsp;&nbsp;&nbsp;(l) A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Security is restricted per Rule 12-12.8 of Regulation S-X. First acquisition dates of Aeolus Property
Catastrophe Keystone PF Fund LP, Atreides Special Circumstances Fund, LLC, Asgard Fixed Income Risk Premia Fund, Rokos Global Macro Fund Ltd. and Kirkoswald Global Macro Fund Ltd., 1/2/2019, 7/1/2021, 8/2/2021, 9/1/2021 and 5/1/2024. Amounts to
$413,981,747 and represents 11.0% of Net Assets.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Repurchase agreements may additionally have cash collateral held to meet collateral requirements.

&nbsp;&nbsp;&nbsp;&nbsp;(o) Open repurchase agreement with no specific maturity date. Either party may terminate the agreement upon demand.

&nbsp;&nbsp;&nbsp;&nbsp;(p) Assets, other than investments in securities, less liabilities other than securities sold short.

**Options Written Contracts Outstanding at June 30, 2025** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Received** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Exchange-Traded Call Options Written** | **Exchange-Traded Call Options Written** | **Exchange-Traded Call Options Written** | **Exchange-Traded Call Options Written** | **Exchange-Traded Call Options Written** |  |  |  |
|  ALUMINIUM SEP 25 | 2,800.00 USD | 09/03/25 | (80) | (224000) | $(35744) | $(44400) | $(8656) |
|  CALIFORNIA CARBON ALLOWANCE VINTAGE DEC 25 | 27.00 USD | 12/15/25 | (660) | (17820) | (2203859) | (2102100) | 101759 |
|  CALIFORNIA CARBON ALLOWANCE VINTAGE DEC 25 | 38.00 USD | 12/15/25 | (660) | (25080) | (289859) | (250140) | 39719 |
|  CALIFORNIA CARBON ALLOWANCE VINTAGE DEC 25 | 50.00 USD | 12/15/25 | (225) | (11250) | (319315) | (19800) | 299515 |
|  CALIFORNIA CARBON ALLOWANCE VINTAGE DEC 25 | 60.00 USD | 12/15/25 | (1315) | (78900) | (360772) | (35505) | 325267 |
|  CRUDE OIL FUT SEP 25 | 100.00 USD | 08/15/25 | (100) | (10000) | (32703) | (12000) | 20703 |
|  GOLD AUG 25 | 3,550.00 USD | 07/28/25 | (63) | (223650) | (168820) | (25830) | 142990 |
|  LME COPPER 3MO CALL <sup>1</sup> | 9,500.00 USD | 07/02/25 | (20) | (190000) | (152436) | (144500) | 7936 |
|  NAT GAS EURO OPT AUG 25 | 4.25 USD | 07/28/25 | (21) | (89) | (29552) | (8526) | 21026 |
|  NAT GAS EURO OPT APR 26 | 8.00 USD | 03/26/26 | (50) | (400) | (85500) | (24800) | 60700 |
|  NAT GAS EURO OPT AUG 26 | 8.00 USD | 07/28/26 | (50) | (400) | (85500) | (35650) | 49850 |
|  NAT GAS EURO OPT DEC 26 | 8.00 USD | 11/24/26 | (50) | (400) | (85500) | (105950) | (20450) |
|  NAT GAS EURO OPT FEB 26 | 8.00 USD | 01/27/26 | (50) | (400) | (85500) | (114500) | (29000) |
|  NAT GAS EURO OPT JAN 26 | 8.00 USD | 12/26/25 | (50) | (400) | (85500) | (91850) | (6350) |
|  NAT GAS EURO OPT JUL 26 | 8.00 USD | 06/25/26 | (50) | (400) | (85500) | (30050) | 55450 |
|  NAT GAS EURO OPT JUN 26 | 8.00 USD | 05/26/26 | (50) | (400) | (85500) | (21400) | 64100 |
|  NAT GAS EURO OPT MAR 26 | 8.00 USD | 02/24/26 | (50) | (400) | (85500) | (76150) | 9350 |
|  NAT GAS EURO OPT MAY 26 | 8.00 USD | 04/27/26 | (50) | (400) | (85500) | (16800) | 68700 |
|  NAT GAS EURO OPT NOV 26 | 8.00 USD | 10/27/26 | (50) | (400) | (85500) | (72600) | 12900 |
|  NAT GAS EURO OPT OCT 26 | 8.00 USD | 09/25/26 | (50) | (400) | (85500) | (43300) | 42200 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Received** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  NAT GAS EURO OPT SEP 25 | 4.25 USD | 08/26/25 | (21) | (89) | $(29552) | $(21777) | $7775 |
|  NAT GAS EURO OPT SEP 25 | 5.50 USD | 08/26/25 | (63) | (347) | (188980) | (13419) | 175561 |
|  NAT GAS EURO OPT SEP 26 | 8.00 USD | 08/26/26 | (50) | (400) | (85500) | (36900) | 48600 |
|  S&P 500 INDEX | 10,000.00 USD | 12/18/26 | (4382) | (43820000) | (384330) | (492975) | (108645) |
|  SILVER SEP 25 | 39.50 USD | 08/26/25 | (37) | (1461) | (179364) | (96755) | 82609 |
|  SOYBEAN OIL DEC 25 | 70.00 USD | 11/21/25 | (31) | (2170) | (12534) | (10695) | 1839 |
|  SOYBEAN OIL MAR 26 | 75.00 USD | 02/20/26 | (63) | (4725) | (23583) | (22491) | 1092 |
|  SPX INDEX OPTION<br>CALL 32 7/1/25 | 32.00 USD | 07/16/25 | (700) | (22400) | (59108) | (16100) | 43008 |
|  SPX INDEX OPTION<br>CALL 38 7/1/25 | 38.00 USD | 07/16/25 | (799) | (30362) | (62674) | (13583) | 49091 |
|  |  |  |  |  | $(5559185) | $(4000546) | $1558639 |
|  **Exchange-Traded Put Options Written** | **Exchange-Traded Put Options Written** | **Exchange-Traded Put Options Written** | **Exchange-Traded Put Options Written** | **Exchange-Traded Put Options Written** |  |  |  |
|  ALUMINIUM SEP 25 | 2,300.00 USD | 09/03/25 | (80) | (184000) | (55744) | (14060) | 41684 |
|  CALIFORNIA CARBON ALLOWANCE VINTAGE DEC 25 | 15.00 USD | 12/15/25 | (2850) | (42750) | (2990163) | (829350) | 2160813 |
|  CALIFORNIA CARBON ALLOWANCE VINTAGE DEC 25 | 27.00 USD | 12/15/25 | (1135) | (30645) | (3849419) | (2037325) | 1812094 |
|  CALIFORNIA CARBON ALLOWANCE VINTAGE DEC 25 | 35.00 USD | 12/15/25 | (1445) | (50575) | (6447715) | (10469025) | (4021310) |
|  CRUDE OIL FUT AUG 25 | 55.50 USD | 08/15/25 | (20) | (1110) | (14365) | (12600) | 1765 |
|  CRUDE OIL FUT SEP 25 | 50.00 USD | 08/15/25 | (50) | (2500) | (74412) | (14000) | 60412 |
|  E-MINI S&P 500 INDEX | 5,200.00 USD | 09/19/25 | (52) | (270400) | (141200) | (55900) | 85300 |
|  LME COPPER 3MO CALL <sup>1</sup> | 9,500.00 USD | 07/02/25 | (20) | (190000) | (85436) | (6755) | 78681 |
|  NAT GAS EURO OPT NOV 25 | 3.20 USD | 10/28/25 | (300) | (960) | (227124) | (484200) | (257076) |
|  NAT GAS EURO OPT OCT 25 | 3.75 USD | 09/25/25 | (200) | (750) | (451416) | (976400) | (524984) |
|  NAT GAS EURO OPT SEP 25 | 3.75 USD | 08/26/25 | (513) | (1924) | (1361882) | (2440341) | (1078459) |
|  PALLADIUM SEP 25 | 950.00 USD | 08/20/25 | (42) | (39900) | (37715) | (25200) | 12515 |
|  S&P 500 INDEX | 5,375.00 USD | 07/18/25 | (739) | (3972125) | (1453593) | (189923) | 1263670 |
|  SGX IRON ORE AUG 25 | 85.00 USD | 08/29/25 | (84) | (7140) | (20769) | (1092) | 19677 |
|  SGX IRON ORE JUL 25 | 85.00 USD | 07/31/25 | (84) | (7140) | (20769) | 0 | 20769 |
|  SGX IRON ORE SEP 25 | 85.00 USD | 09/30/25 | (84) | (7140) | (20790) | (3948) | 16842 |
|  SPX INDEX OPTION<br>PUT 17 7/1/25 | 17.00 USD | 07/16/25 | (2402) | (40834) | (130176) | (74462) | 55714 |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17382688) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17634581) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(251893) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Counterparty** | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Received** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **OTC Call Options Written** | **OTC Call Options Written** | **OTC Call Options Written** | **OTC Call Options Written** | **OTC Call Options Written** |  |  |  |  |
|  CDX IG44 CREDIT SWAPTION CALL 82.5 1/1/2038 | Goldman Sachs & Co. | 82.50 USD | 09/17/25 | (3101750000) | (255894375000) | $(1938593) | $(1159375) | $779218 |
|  CNH USD FX OPTION CALL 7.65 10/8/25 | J.P. Morgan<br> Securities LLC | 7.65 USD | 10/08/25 | (10000000) | (76500000) | (61200) | (1926) | 59274 |
|  NVIDIA CORP.<br>JAN 26 | Bank Of America Merrill Lynch | 210.00 USD | 01/16/26 | (15) | (3150) | (5625) | (8240) | (2615) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Counterparty** | **Strike** | **Expiration<br>Date** | **Contracts** | **Notional<br>Amount** | **Premium<br>Received** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  VIX INDEX OPTION CALL 26 7/1/25 | Morgan Stanley & Co. LLC | 47.50 USD | 07/30/25 | (290) | (13775) | $(4243) | $(6960) | $(2717) |
|  XAG USD FX OPTION CALL 42.5 12/18/25 | J.P. Morgan<br> Securities LLC | 42.50 USD | 12/18/25 | (210000) | (8925000) | (294001) | (184045) | 109956 |
|  XAG USD FX OPTION CALL 45 12/29/25 | J.P. Morgan<br> Securities LLC | 45.00 USD | 12/29/25 | (200000) | (9000000) | (240000) | (86412) | 153588 |
|  XAU USD FX OPTION CALL 3750 7/18/25 | J.P. Morgan<br> Securities LLC | 3,750.00 USD | 07/18/25 | (1550) | (5812500) | (88350) | (203) | 88147 |
|  |  |  |  |  |  | $(2632012) | $(1447161) | $1184851 |
|  **OTC Put Options Written** | **OTC Put Options Written** | **OTC Put Options Written** | **OTC Put Options Written** |  |  |  |  |  |
|  USD JPY FX OPTION PUT 132 9/25/25 | Bank Of America Merrill Lynch | 132.00 USD | 09/25/25 | (2000000) | (264000000) | (6730) | (5933) | 797 |
|  Total Options Written Outstanding | Total Options Written Outstanding | Total Options Written Outstanding | Total Options Written Outstanding | Total Options Written Outstanding | Total Options Written Outstanding | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25580615) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23088221) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492394 |

---

1 Security is valued using significant unobservable inputs.

At June 30, 2025 the Fund had the following unfunded loan commitment(s) for the loan agreement(s) noted, which could be extended at the option of the borrower:

---

| | | | |
|:---|:---|:---|:---|
| **Borrower** | **Unfunded<br>Loan<br>Commitment** | **Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Azul Secured Finance LLP, New Money DIP Term Loan, , 16.00, PRIME + 16.00%, 02/27/26 | $5096961 | $949222 | $129517 |
|  Total Unfunded Loan Commitment | $5096961 | $949222 | $129517 |

---

**Future Contracts Outstanding at June 30, 2025** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Long Futures** |  |  |  |  |  |
|  1 Year Mid-Curve 3 Month Eurodollar Option | 274 | EUREX | 32,393,600 EUR | 09/08/25 | $(175845) |
|  3 Month Eurodollar | 481 | LIFFE | 118,085,867 EUR | 09/15/25 | (127916) |
|  3 Month Eurodollar | 474 | LIFFE | 116,459,487 EUR | 03/16/26 | (81028) |
|  3 Month Eurodollar | 417 | LIFFE | 102,424,680 EUR | 06/15/26 | (54148) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  3 Month Eurodollar | 124 | LIFFE | 30,431,713 EUR | 09/14/26 | $(663) |
|  3 Month Eurodollar | 417 | LIFFE | 102,312,196 EUR | 12/14/26 | (50588) |
|  3 Month Eurodollar | 334 | LIFFE | 81,870,212 EUR | 03/15/27 | (17861) |
|  3 Month Eurodollar | 195 | LIFFE | 47,766,428 EUR | 06/14/27 | (15744) |
|  3 Month SOFR | 1256 | CME | 301,152,157 USD | 12/17/25 | 256443 |
|  3 Month SOFR | 40 | CME | 9,630,594 USD | 03/18/26 | 2406 |
|  3 Month SOFR | 61 | CME | 14,726,850 USD | 06/17/26 | 4650 |
|  3 Month SOFR | 315 | CME | 76,336,382 USD | 03/17/27 | 27493 |
|  3 Month SOFR | 1260 | CME | 304,475,451 USD | 09/15/27 | 775299 |
|  Aluminium | 85 | LME | 5,408,488 USD | 07/14/25 | 111837 |
|  Aluminium | 36 | LME | 2,242,620 USD | 09/02/25 | 95787 |
|  Australian 10-Year Bond | 309 | SFE | 35,347,051 AUD | 09/15/25 | 46267 |
|  Australian Dollar Currency | 35 | CME | 2,289,957 USD | 09/15/25 | 16368 |
|  Brazilian Real Currency | 293 | CME | 5,257,592 USD | 07/31/25 | 99913 |
|  Brent Crude | 907 | ICE | 62,671,122 USD | 07/31/25 | (2137942) |
|  Brent Crude | 30 | NYMEX | 1,831,950 USD | 07/31/25 | 170250 |
|  Brent Crude | 105 | ICE | 258,300 USD | 08/26/25 | 28350 |
|  Brent Crude | 63 | ICE | 42,210 USD | 08/26/25 | (15120) |
|  Brent Crude | 1 | NYMEX | 68,820 USD | 08/29/25 | (2960) |
|  Brent Crude | 51 | ICE | 3,605,276 USD | 09/30/25 | (277526) |
|  Brent Crude | 377 | ICE | 246,230 USD | 10/28/25 | 28980 |
|  Brent Crude | 105 | ICE | 333,900 USD | 10/28/25 | (68250) |
|  Brent Crude | 372 | ICE | 2,176,150 USD | 10/28/25 | 658490 |
|  Brent Crude | 105 | ICE | 410,550 USD | 10/28/25 | 70350 |
|  Brent Crude | 94 | NYMEX | 6,608,520 USD | 10/31/25 | (506980) |
|  Brent Crude | 17 | ICE | 1,111,112 USD | 10/31/25 | (7642) |
|  Brent Crude | 225 | ICE | 1,203,750 USD | 04/27/26 | 308250 |
|  Brent Crude | 15 | ICE | 1,057,340 USD | 04/30/26 | (86240) |
|  Brent Crude | 294 | ICE | 648,480 USD | 10/27/26 | 92400 |
|  Brent Crude | 294 | ICE | 1,013,460 USD | 10/27/26 | (246120) |
|  Brent Crude | 3 | ICE | 191,020 USD | 10/30/26 | 3740 |
|  British Pound Currency | 344 | GBX | 29,193,283 USD | 09/15/25 | 315467 |
|  CAC40 Index | 45 | MAT | 3,454,200 EUR | 07/18/25 | (3180) |
|  California Carbon Allowance Vintage DEC 25 | 5039 | ICE | 161,300,117 USD | 12/24/25 | (18242907) |
|  Canadian 10-Year Bond | 394 | MOE | 47,948,018 CAD | 09/18/25 | 88109 |
|  Canadian Dollar Currency | 107 | CME | 7,896,848 USD | 09/16/25 | (13088) |
|  Carbon Emission | 50 | ICE | 212,500 EUR | 12/10/25 | (71560) |
|  Cattle | 691 | CME | 56,809,080 USD | 10/31/25 | 1283290 |
|  CBOE Volatility Index | 81 | CBOE | 1,681,490 USD | 07/16/25 | (165778) |
|  CBOE Volatility Index | 139 | CBOE | 2,907,640 USD | 08/20/25 | (114074) |
|  CBOE Volatility Index | 417 | CBOE | 9,022,360 USD | 12/17/25 | (155481) |
|  Cocoa | 6 | NYBOT | 506,900 USD | 12/15/25 | (8960) |
|  Coffee 'C' | 18 | NYBOT | 2,297,016 USD | 12/18/25 | (308466) |
|  Copper | 42 | LME | 10,225,563 USD | 07/14/25 | 216929 |
|  Copper | 45 | COMEX | 5,565,025 USD | 09/26/25 | 152787 |
|  Copper | 53 | LME | 12,327,331 USD | 12/17/25 | 718619 |
|  Copper | 260 | COMEX | 32,519,426 USD | 12/29/25 | 942574 |
|  Corn | 2037 | CBT | 43,683,974 USD | 12/12/25 | (346799) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  Cotton No.2 | 585 | NYBOT | 19,910,695 USD | 12/08/25 | $17331 |
|  DAX Index | 20 | EUREX | 11,849,150 EUR | 09/19/25 | 206554 |
|  DJIA mini E-CBOT | 52 | CBT | 11,118,143 USD | 09/19/25 | 422997 |
|  E-Mini Russell Index | 50 | ICE | 5,302,583 USD | 09/19/25 | 176667 |
|  E-Mini S&P 500 Index | 187 | CME | 56,966,330 USD | 09/19/25 | 1506232 |
|  E-Mini S&P Mid Cap 400 Index | 2 | CME | 614,960 USD | 09/19/25 | 10140 |
|  Euro FX | 74 | CME | 10,786,339 USD | 09/15/25 | 161961 |
|  Euro OAT | 141 | EUREX | 17,591,630 EUR | 09/08/25 | (153357) |
|  Euro Stoxx 50 | 48 | EUREX | 2,545,840 EUR | 09/19/25 | 13099 |
|  Euro-BTP | 345 | EUREX | 41,688,488 EUR | 09/08/25 | 66568 |
|  Euro-BTP | 357 | EUREX | 38,598,305 EUR | 09/08/25 | (72962) |
|  Euro-Bund | 132 | EUREX | 17,312,100 EUR | 09/08/25 | (155843) |
|  Euro-Schatz | 2509 | EUREX | 269,448,030 EUR | 09/08/25 | (421447) |
|  FTSE 100 Index | 115 | LIFFE | 10,206,660 GBP | 09/19/25 | (135528) |
|  FTSE/MIB Index | 15 | MIL | 2,956,130 EUR | 09/19/25 | 38601 |
|  Gas Oil | 282 | ICE | 19,592,204 USD | 08/12/25 | (952004) |
|  Gas Oil | 1 | ICE | 65,000 USD | 09/11/25 | 300 |
|  Gas Oil | 105 | ICE | 6,956,497 USD | 11/12/25 | (239122) |
|  Gasoline RBOB | 577 | NYMEX | 50,673,996 USD | 07/31/25 | (458725) |
|  Gasoline RBOB | 118 | NYMEX | 9,798,358 USD | 10/31/25 | (663459) |
|  Globex Natural Gas | 15 | NYMEX | 544,950 USD | 07/28/25 | (26550) |
|  Gold | 128 | COMEX | 42,968,748 USD | 08/27/25 | (630188) |
|  Henry Hub | 682 | ICE | 6,639,911 USD | 12/29/25 | 1632749 |
|  Henry Hub | 616 | ICE | 5,997,339 USD | 02/01/26 | 1028141 |
|  Henry Hub | 682 | ICE | 6,639,911 USD | 03/01/26 | 338654 |
|  Henry Hub | 720 | ICE | 6,678,087 USD | 04/01/26 | 192513 |
|  Henry Hub | 744 | ICE | 6,900,690 USD | 05/01/26 | 185910 |
|  Henry Hub | 720 | ICE | 6,678,087 USD | 06/01/26 | 473313 |
|  Henry Hub | 744 | ICE | 6,900,690 USD | 07/01/26 | 842490 |
|  Henry Hub | 744 | ICE | 6,900,690 USD | 08/01/26 | 933630 |
|  Henry Hub | 720 | ICE | 6,678,087 USD | 09/01/26 | 818913 |
|  Henry Hub | 744 | ICE | 6,900,690 USD | 10/01/26 | 944790 |
|  Henry Hub | 690 | ICE | 6,365,712 USD | 11/01/26 | 1267413 |
|  Henry Hub | 713 | ICE | 6,577,903 USD | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956707 |
|  Henry Hub | 30 | ICE | 282,600 USD | 12/29/26 | 93825 |
|  Henry Hub | 24 | ICE | 226,080 USD | 01/27/27 | 49080 |
|  Henry Hub | 61 | ICE | 564,570 USD | 02/24/27 | 34907 |
|  Henry Hub | 58 | ICE | 505,900 USD | 03/29/27 | 150 |
|  Henry Hub | 30 | ICE | 282,600 USD | 04/28/27 | (23850) |
|  Henry Hub | 28 | ICE | 263,760 USD | 05/26/27 | (12250) |
|  Henry Hub | 30 | ICE | 282,600 USD | 06/28/27 | (75) |
|  Henry Hub | 30 | ICE | 282,600 USD | 07/28/27 | 3675 |
|  Henry Hub | 28 | ICE | 263,760 USD | 08/27/27 | 840 |
|  Henry Hub | 61 | ICE | 555,495 USD | 09/28/27 | 31173 |
|  Henry Hub | 28 | ICE | 263,760 USD | 10/27/27 | 18830 |
|  Henry Hub | 30 | ICE | 282,600 USD | 11/26/27 | 50550 |
|  Henry Hub | 16 | ICE | 140,000 USD | 12/27/29 | 42680 |
|  Henry Hub | 16 | ICE | 140,000 USD | 01/29/30 | 30400 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  Henry Hub | 16 | ICE | 140,000 USD | 02/26/30 | $2680 |
|  Henry Hub | 16 | ICE | 140,000 USD | 03/27/30 | (19280) |
|  Henry Hub | 16 | ICE | 140,000 USD | 04/26/30 | (20760) |
|  Henry Hub | 16 | ICE | 140,000 USD | 05/29/30 | (14520) |
|  Henry Hub | 16 | ICE | 140,000 USD | 06/26/30 | (7880) |
|  Henry Hub | 16 | ICE | 140,000 USD | 07/29/30 | (5720) |
|  Henry Hub | 16 | ICE | 140,000 USD | 08/28/30 | (6480) |
|  Henry Hub | 16 | ICE | 140,000 USD | 09/26/30 | (2480) |
|  Henry Hub | 16 | ICE | 140,000 USD | 10/29/30 | 7040 |
|  Henry Hub | 16 | ICE | 140,000 USD | 11/26/30 | 25440 |
|  HKG Hang Seng Index | 49 | HFE | 59,298,250 HKD | 07/30/25 | (37255) |
|  ICE 3 Month Sonia | 735 | ICE | 177,013,181 GBP | 03/17/26 | 129381 |
|  ICE 3 Month Sonia | 624 | ICE | 150,478,825 GBP | 09/15/26 | 298105 |
|  ICE 3 Month Sonia | 375 | ICE | 90,467,413 GBP | 12/15/26 | 156259 |
|  ICE 3 Month Sonia | 115 | ICE | 27,758,302 GBP | 03/16/27 | 25408 |
|  ICE 3 Month Sonia | 722 | ICE | 174,089,652 GBP | 09/14/27 | 251330 |
|  Japan Yen Currency | 166 | CME | 14,453,881 USD | 09/15/25 | 60744 |
|  Korean 10-Year Bond | 7 | KFE | 823,130,000 KRW | 09/16/25 | 4357 |
|  Lean Hogs | 120 | CME | 5,269,392 USD | 08/18/25 | (109392) |
|  Lean Hogs | 407 | CME | 15,370,092 USD | 10/16/25 | (327372) |
|  Long Gilt | 112 | LIFFE | 10,422,600 GBP | 09/26/25 | (4447) |
|  Mexican Peso Currency | 459 | CME | 11,969,573 USD | 09/15/25 | 170977 |
|  MSCI Emerging Markets Index | 72 | NYSE | 4,369,320 USD | 09/19/25 | 71280 |
|  NASDAQ 100 E-Mini | 29 | CME | 12,797,925 USD | 09/19/25 | 480160 |
|  Natural Gas | 301 | NYMEX | 11,223,741 USD | 07/29/25 | (821181) |
|  Natural Gas | 20 | NYMEX | 717,930 USD | 08/27/25 | (19930) |
|  Natural Gas | 28 | NYMEX | 919,648 USD | 09/01/25 | 57552 |
|  Natural Gas | 295 | NYMEX | 11,188,330 USD | 09/26/25 | (588980) |
|  Natural Gas | 60 | ICE | 316,253 EUR | 09/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(336883) |
|  Natural Gas | 28 | NYMEX | 919,648 USD | 10/01/25 | 86392 |
|  Natural Gas | 129 | NYMEX | 5,412,826 USD | 10/29/25 | (272176) |
|  Natural Gas | 32 | NYMEX | 971,555 USD | 11/01/25 | 303645 |
|  Natural Gas | 166 | NYMEX | 8,084,254 USD | 11/25/25 | (514654) |
|  Natural Gas | 32 | NYMEX | 971,555 USD | 12/01/25 | 487645 |
|  Natural Gas | 116 | NYMEX | 5,754,418 USD | 12/29/25 | (126098) |
|  Natural Gas | 43 | NYMEX | 1,929,720 USD | 02/25/26 | (169730) |
|  Natural Gas | 72 | NYMEX | 2,824,750 USD | 03/27/26 | (76510) |
|  Natural Gas | 55 | ICE | 1,524,600 EUR | 03/30/26 | (258097) |
|  Natural Gas | 160 | NYMEX | 6,277,403 USD | 04/28/26 | (181403) |
|  Natural Gas | 55 | ICE | 1,575,420 EUR | 04/29/26 | (299959) |
|  Natural Gas | 270 | NYMEX | 11,294,661 USD | 05/27/26 | (567561) |
|  Natural Gas | 55 | ICE | 1,524,600 EUR | 05/28/26 | (302085) |
|  Natural Gas | 4 | NYMEX | 169,440 USD | 06/26/26 | (2920) |
|  Natural Gas | 55 | ICE | 1,575,420 EUR | 06/29/26 | (306852) |
|  Natural Gas | 4 | NYMEX | 175,480 USD | 07/29/26 | (7000) |
|  Natural Gas | 55 | ICE | 1,575,420 EUR | 07/30/26 | (301550) |
|  Natural Gas | 4 | NYMEX | 173,590 USD | 08/27/26 | (6990) |
|  Natural Gas | 55 | ICE | 1,524,600 EUR | 08/27/26 | (282726) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  Natural Gas | 4 | NYMEX | 175,800 USD | 09/28/26 | $(7080) |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 01/01/27 | 675567 |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 02/01/27 | 441747 |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 03/01/27 | 88047 |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 04/01/27 | (150093) |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 05/01/27 | (171693) |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 06/01/27 | (94473) |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 07/01/27 | (513) |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 08/01/27 | 26487 |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 09/01/27 | 6507 |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 10/01/27 | 42687 |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 11/01/27 | 145287 |
|  Natural Gas | 54 | NYMEX | 2,034,693 USD | 12/01/27 | 363987 |
|  New Zealand Dollar | 40 | ICE | 2,427,290 USD | 09/15/25 | 16910 |
|  Nikkei Index | 10 | OSE | 380,435,000 JPY | 09/12/25 | 171279 |
|  NY Harbor ULSD | 191 | NYMEX | 17,893,534 USD | 07/31/25 | 366944 |
|  OMXS30 Index | 130 | SOM | 32,156,595 SEK | 07/18/25 | 26679 |
|  Palladium | 7 | NYMEX | 762,067 USD | 09/26/25 | 12903 |
|  Platinum | 20 | NYMEX | 1,302,396 USD | 10/29/25 | 40604 |
|  S&P ASX Share Price Index 200 | 34 | SFE | 7,262,975 AUD | 09/18/25 | (4294) |
|  S&P TSX 60 Index | 23 | MOE | 7,271,572 CAD | 09/18/25 | 64937 |
|  Silver | 40 | COMEX | 7,321,353 USD | 09/26/25 | (86953) |
|  Silver | 10 | COMEX | 1,854,990 USD | 12/29/25 | (24290) |
|  Soybean | 43 | CBT | 2,248,294 USD | 08/14/25 | (34332) |
|  Soybean | 1220 | CBT | 63,396,037 USD | 11/14/25 | (749037) |
|  Soybean | 942 | CBT | 28,076,320 USD | 12/12/25 | (824260) |
|  Soybean Oil | 1112 | CBT | 36,945,222 USD | 01/14/26 | (1650342) |
|  Sugar | 816 | NYBOT | 15,358,103 USD | 09/30/25 | (552599) |
|  Swiss Franc Currency | 34 | CME | 5,317,106 USD | 09/15/25 | 91656 |
|  TOPIX | 27 | OSE | 753,255,250 JPY | 09/11/25 | 123119 |
|  U.S. Treasury 10-Year Note | 178 | CBT | 19,741,688 USD | 09/19/25 | 216562 |
|  U.S. Treasury 10-Year Note | 25 | CBT | 2,773,438 USD | 12/19/25 | 28516 |
|  U.S. Treasury 2-Year Note | 1045 | CBT | 216,682,774 USD | 09/30/25 | 701719 |
|  U.S. Treasury 5-Year Note | 489 | CBT | 52,723,547 USD | 09/30/25 | 577453 |
|  U.S. Treasury Ultra 10-Year Bond | 188 | CBT | 21,025,163 USD | 09/19/25 | 456774 |
|  U.S. Treasury Ultra Bond | 19 | CBT | 2,171,453 USD | 09/19/25 | 91922 |
|  VSTOXX | 4091 | EUREX | 617,153 EUR | 07/16/25 | (558310) |
|  VSTOXX | 1300 | EUREX | 84,000 EUR | 07/16/25 | (83634) |
|  Wheat | 1183 | CBT | 32,359,199 USD | 09/12/25 | (521712) |
|  WTI Crude | 367 | NYMEX | 24,429,608 USD | 07/22/25 | (534238) |
|  WTI Crude | 2 | ICE | 127,840 USD | 08/19/25 | (140) |
|  WTI Crude | 75 | NYMEX | 4,729,212 USD | 09/22/25 | (22212) |
|  WTI Crude | 54 | NYMEX | 3,560,770 USD | 10/21/25 | (209530) |
|  WTI Crude | 27 | NYMEX | 1,769,368 USD | 11/20/25 | (104818) |
|  WTI Crude | 569 | NYMEX | 34,977,370 USD | 01/20/26 | (69220) |
|  WTI Crude | 10 | NYMEX | 614,200 USD | 05/19/26 | (800) |
|  WTI Crude | 152 | NYMEX | 9,408,010 USD | 11/20/26 | (69130) |
|  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12267281) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Short Futures** |  |  |  |  |  |
|  1 Year Mid-Curve 3 Month Eurodollar Option | 325 | EUREX | 38,322,368 EUR | 09/08/25 | $89958 |
|  3 Month Eurodollar | 1356 | LIFFE | 333,187,299 EUR | 12/15/25 | 340780 |
|  3 Month SOFR | 97 | CME | 23,282,731 USD | 12/17/25 | 5156 |
|  3 Month SOFR | 91 | CME | 21,887,100 USD | 03/18/26 | (27975) |
|  3 Month SOFR | 53 | CME | 12,764,600 USD | 06/17/26 | (34900) |
|  3 Month SOFR | 1171 | CME | 282,720,800 USD | 09/16/26 | (719750) |
|  3 Month SOFR | 685 | CME | 165,564,428 USD | 12/16/26 | (436759) |
|  3 Month SOFR | 33 | CME | 7,968,425 USD | 03/17/27 | (31600) |
|  3 Month SOFR | 403 | CME | 97,406,245 USD | 06/16/27 | (275918) |
|  3 Month SOFR | 9 | CME | 2,175,125 USD | 09/15/27 | (5238) |
|  3 Month SOFR | 34 | CME | 8,205,437 USD | 12/15/27 | (26388) |
|  3 Month SOFR | 38 | CME | 9,161,700 USD | 03/15/28 | (32875) |
|  3 Month SOFR | 25 | CME | 6,012,125 USD | 06/20/28 | (33500) |
|  3 Month SOFR | 37 | CME | 8,912,562 USD | 09/19/28 | (29875) |
|  3 Month SOFR | 37 | CME | 8,917,825 USD | 12/20/28 | (20450) |
|  3 Month SOFR | 20 | CME | 4,815,750 USD | 03/20/29 | (13500) |
|  3 Month SOFR | 17 | CME | 4,090,687 USD | 06/18/29 | (12050) |
|  3 Month SOFR | 10 | CME | 2,410,912 USD | 09/18/29 | (1213) |
|  3 Month SOFR | 9 | CME | 2,168,950 USD | 12/18/29 | (838) |
|  3 Month SOFR | 2 | CME | 481,825 USD | 03/20/30 | (50) |
|  3 Month SOFR | 9 | CME | 2,166,287 USD | 06/20/30 | (800) |
|  Aluminium | 85 | LME | 5,167,469 USD | 07/14/25 | (352856) |
|  Aluminium | 36 | LME | 2,204,550 USD | 09/02/25 | (133857) |
|  Brent Crude | 1 | ICE | 3,150 USD | 07/28/25 | 2900 |
|  Brent Crude | 63 | ICE | 22,050 USD | 08/26/25 | 6930 |
|  Brent Crude | 210 | ICE | 203,700 USD | 08/26/25 | 102900 |
|  Brent Crude | 180 | ICE | 589,860 USD | 08/26/25 | (446940) |
|  Brent Crude | 15 | ICE | 89,250 USD | 08/26/25 | 77400 |
|  Brent Crude | 415 | ICE | 28,815,306 USD | 08/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483406 |
|  Brent Crude | 175 | ICE | 11,420,510 USD | 09/30/25 | 1760 |
|  Brent Crude | 105 | ICE | 133,350 USD | 10/28/25 | (7350) |
|  Brent Crude | 105 | ICE | 180,600 USD | 10/28/25 | 103950 |
|  Brent Crude | 749 | ICE | 1,559,760 USD | 10/28/25 | (335210) |
|  Brent Crude | 87 | ICE | 5,644,610 USD | 10/31/25 | (2560) |
|  Brent Crude | 13 | ICE | 842,626 USD | 11/28/25 | 616 |
|  Brent Crude | 644 | ICE | 42,014,740 USD | 12/30/25 | 335060 |
|  Brent Crude | 225 | ICE | 551,250 USD | 04/27/26 | (119250) |
|  Brent Crude | 45 | ICE | 3,017,764 USD | 10/30/26 | 96364 |
|  Canadian Dollar Currency | 44 | CME | 3,235,382 USD | 09/16/25 | (6538) |
|  Carbon Emission | 50 | ICE | 28,500 EUR | 12/10/25 | 11780 |
|  Cattle | 542 | CME | 44,751,923 USD | 08/29/25 | (1616177) |
|  CBOE Volatility Index | 96 | CBOE | 2,056,374 USD | 09/17/25 | 69059 |
|  CBOE Volatility Index | 206 | CBOE | 4,476,393 USD | 10/22/25 | 128351 |
|  CBOE Volatility Index | 104 | CBOE | 2,257,047 USD | 11/19/25 | 41847 |
|  Cocoa | 2 | NYBOT | 183,470 USD | 09/15/25 | 3470 |
|  Coffee 'C' | 25 | NYBOT | 3,141,822 USD | 09/18/25 | 328384 |
|  Copper | 250 | COMEX | 30,966,113 USD | 09/26/25 | (799512) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  Copper | 53 | LME | 12,640,062 USD | 12/17/25 | $(405888) |
|  Corn | 131 | CBT | 2,713,413 USD | 09/12/25 | 32825 |
|  Corn | 1874 | CBT | 41,763,788 USD | 03/13/26 | 442088 |
|  Cotton No.2 | 197 | NYBOT | 6,718,626 USD | 12/08/25 | 7821 |
|  Cotton No.2 | 679 | NYBOT | 23,488,498 USD | 03/09/26 | (93172) |
|  E-Mini S&P 500 Index | 22 | CME | 6,716,617 USD | 09/19/25 | (162508) |
|  Euro FX | 17 | CME | 2,480,700 USD | 09/15/25 | (34450) |
|  Euro OAT | 9 | EUREX | 1,115,319 EUR | 09/08/25 | 894 |
|  Euro Stoxx 50 | 540 | EUREX | 28,594,950 EUR | 09/19/25 | (201253) |
|  Euro Stoxx 600 | 3 | EUREX | 76,740 EUR | 09/19/25 | (1343) |
|  Euro-Bund | 259 | EUREX | 33,887,784 EUR | 09/08/25 | 210775 |
|  Euro-Buxl | 103 | EUREX | 12,411,085 EUR | 09/08/25 | 213050 |
|  Euro-Schatz | 1217 | EUREX | 130,558,992 EUR | 09/08/25 | 42103 |
|  FTSE Taiwan Index | 25 | SING | 1,820,250 USD | 07/30/25 | (3250) |
|  Gas Oil | 1 | ICE | 69,750 USD | 07/10/25 | 2050 |
|  Gas Oil | 7 | ICE | 454,650 USD | 09/11/25 | (2450) |
|  Gas Oil | 91 | ICE | 5,986,175 USD | 10/10/25 | 82550 |
|  Gas Oil | 90 | ICE | 6,041,000 USD | 12/11/25 | 373250 |
|  Gasoline RBOB | 1 | ICE | 85,890 USD | 08/28/25 | 118 |
|  Gasoline RBOB | 491 | NYMEX | 42,688,241 USD | 08/29/25 | 573992 |
|  Gasoline RBOB | 58 | NYMEX | 5,000,811 USD | 09/30/25 | 395796 |
|  Gasoline RBOB | 6 | NYMEX | 412,440 USD | 11/28/25 | (44234) |
|  Globex Natural Gas | 13 | NYMEX | 517,370 USD | 09/25/25 | 50280 |
|  Globex Natural Gas | 13 | NYMEX | 515,240 USD | 09/25/25 | 61540 |
|  Globex Natural Gas | 12 | NYMEX | 484,700 USD | 10/28/25 | 6500 |
|  Gold | 8 | COMEX | 2,649,612 USD | 08/27/25 | 3452 |
|  Henry Hub | 93 | ICE | 955,110 USD | 07/29/25 | 151590 |
|  Henry Hub | 58 | NYMEX | 583,700 USD | 08/01/25 | 82580 |
|  Henry Hub | 150 | ICE | 1,665,698 USD | 08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356947 |
|  Henry Hub | 58 | NYMEX | 583,700 USD | 09/01/25 | 77650 |
|  Henry Hub | 93 | ICE | 955,110 USD | 09/26/25 | 119737 |
|  Henry Hub | 58 | NYMEX | 583,700 USD | 10/01/25 | 62715 |
|  Henry Hub | 180 | ICE | 2,008,024 USD | 10/29/25 | 214774 |
|  Henry Hub | 58 | NYMEX | 583,700 USD | 11/01/25 | 5875 |
|  Henry Hub | 186 | ICE | 2,072,168 USD | 11/25/25 | (48232) |
|  Henry Hub | 58 | NYMEX | 583,700 USD | 12/01/25 | (77500) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 12/26/25 | (84150) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 01/27/26 | (62400) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 02/24/26 | (27225) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 03/26/26 | (6525) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 04/27/26 | (6000) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 05/26/26 | (18225) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 06/25/26 | (32475) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 07/28/26 | (36150) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 08/26/26 | (32625) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 09/25/26 | (36600) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 10/27/26 | (52125) |
|  Henry Hub | 30 | NYMEX | 279,750 USD | 11/24/26 | (79350) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  Henry Hub | 10 | ICE | 96,500 USD | 12/29/26 | $(28975) |
|  Henry Hub | 10 | ICE | 96,500 USD | 01/27/27 | (18150) |
|  Henry Hub | 10 | ICE | 96,500 USD | 02/24/27 | (1775) |
|  Henry Hub | 10 | ICE | 96,500 USD | 03/29/27 | 9250 |
|  Henry Hub | 10 | ICE | 96,500 USD | 04/28/27 | 10250 |
|  Henry Hub | 10 | ICE | 96,500 USD | 05/26/27 | 6675 |
|  Henry Hub | 10 | ICE | 96,500 USD | 06/28/27 | 2325 |
|  Henry Hub | 10 | ICE | 96,500 USD | 07/28/27 | 1075 |
|  Henry Hub | 10 | ICE | 96,500 USD | 08/27/27 | 2000 |
|  Henry Hub | 10 | ICE | 96,500 USD | 09/28/27 | 325 |
|  Henry Hub | 10 | ICE | 96,500 USD | 10/27/27 | (4425) |
|  Henry Hub | 10 | ICE | 96,500 USD | 11/26/27 | (14550) |
|  ICE 3 Month Sonia | 1292 | ICE | 311,504,099 GBP | 06/16/26 | (417218) |
|  ICE 3 Month Sonia | 308 | ICE | 74,287,942 GBP | 06/15/27 | (113255) |
|  Iron Ore | 681 | SING | 6,295,845 USD | 08/29/25 | (106917) |
|  Japan Yen Currency | 92 | CME | 8,036,516 USD | 09/15/25 | (7734) |
|  Japanese 10-Year Bond | 5 | OSE | 693,200,000 JPY | 09/12/25 | (13194) |
|  Japanese 10-Year Bond | 24 | OSE | 3,332,030,002 JPY | 09/12/25 | (30902) |
|  KOSPI 200 Index | 3 | KFE | 289,200,000 KRW | 09/11/25 | (16977) |
|  Lean Hogs | 370 | CME | 16,502,946 USD | 08/18/25 | 592946 |
|  Long Gilt | 37 | LIFFE | 3,365,625 GBP | 09/26/25 | (104987) |
|  Mexican Peso Currency | 38 | CME | 994,250 USD | 09/15/25 | (10850) |
|  NASDAQ 100 E-Mini | 47 | CME | 20,822,864 USD | 09/19/25 | (696791) |
|  Natural Gas | 28 | NYMEX | 273,860 USD | 07/29/25 | 31940 |
|  Natural Gas | 361 | NYMEX | 14,317,460 USD | 07/29/25 | 1841300 |
|  Natural Gas | 25 | ICE | 686,691 EUR | 07/30/25 | 88097 |
|  Natural Gas | 28 | NYMEX | 273,860 USD | 08/27/25 | 29560 |
|  Natural Gas | 370 | NYMEX | 13,981,095 USD | 08/27/25 | 1068095 |
|  Natural Gas | 28 | NYMEX | 273,860 USD | 09/26/25 | 22350 |
|  Natural Gas | 108 | NYMEX | 4,579,723 USD | 09/26/25 | 699283 |
|  Natural Gas | 28 | NYMEX | 273,860 USD | 10/29/25 | (5090) |
|  Natural Gas | 13 | NYMEX | 538,400 USD | 11/24/25 | (54400) |
|  Natural Gas | 28 | NYMEX | 273,860 USD | 11/25/25 | (45340) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 12/26/25 | (24360) |
|  Natural Gas | 288 | NYMEX | 14,281,180 USD | 12/29/25 | 307420 |
|  Natural Gas | 110 | ICE | 3,182,605 EUR | 12/30/25 | 344945 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 01/01/26 | (1659997) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 01/27/26 | (15660) |
|  Natural Gas | 40 | NYMEX | 1,811,179 USD | 01/28/26 | (13621) |
|  Natural Gas | 110 | ICE | 2,874,611 EUR | 01/29/26 | 315917 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 02/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1259797) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 02/24/26 | (1590) |
|  Natural Gas | 232 | NYMEX | 10,076,930 USD | 02/25/26 | 581170 |
|  Natural Gas | 110 | ICE | 3,178,327 EUR | 02/26/26 | 399838 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 03/01/26 | (612577) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 03/26/26 | 6690 |
|  Natural Gas | 28 | NYMEX | 1,077,380 USD | 03/27/26 | 8620 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 04/01/26 | (231697) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 04/27/26 | $6900 |
|  Natural Gas | 33 | NYMEX | 1,417,829 USD | 04/28/26 | 160529 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 05/01/26 | (222037) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 05/26/26 | 2010 |
|  Natural Gas | 28 | NYMEX | 1,089,870 USD | 05/27/26 | (22570) |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 06/01/26 | (446977) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 06/25/26 | (3690) |
|  Natural Gas | 390 | NYMEX | 16,864,354 USD | 06/26/26 | 628654 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 07/01/26 | (709177) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 07/28/26 | (5160) |
|  Natural Gas | 33 | NYMEX | 1,454,200 USD | 07/29/26 | 64240 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 08/01/26 | (776797) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 08/26/26 | (3750) |
|  Natural Gas | 28 | NYMEX | 1,225,159 USD | 08/27/26 | 58959 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 09/01/26 | (711937) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 09/25/26 | (5340) |
|  Natural Gas | 34 | NYMEX | 1,290,050 USD | 09/28/26 | (144070) |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 10/01/26 | (785077) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 10/27/26 | (11550) |
|  Natural Gas | 23 | NYMEX | 1,023,959 USD | 10/28/26 | 6209 |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 11/01/26 | (1070737) |
|  Natural Gas | 3 | NYMEX | 121,200 USD | 11/24/26 | (22440) |
|  Natural Gas | 30 | NYMEX | 1,319,059 USD | 11/25/26 | (117341) |
|  Natural Gas | 138 | NYMEX | 5,035,763 USD | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1571677) |
|  Natural Gas | 55 | NYMEX | 2,465,200 USD | 12/29/26 | (295250) |
|  Natural Gas | 53 | NYMEX | 2,370,900 USD | 01/27/27 | (59680) |
|  Natural Gas | 61 | NYMEX | 2,658,290 USD | 02/24/27 | 260380 |
|  Natural Gas | 60 | NYMEX | 2,593,710 USD | 03/29/27 | 499710 |
|  Natural Gas | 53 | NYMEX | 2,370,900 USD | 04/28/27 | 542400 |
|  Natural Gas | 53 | NYMEX | 2,370,900 USD | 05/26/27 | 466610 |
|  Natural Gas | 53 | NYMEX | 2,370,900 USD | 06/28/27 | 374390 |
|  Natural Gas | 53 | NYMEX | 2,370,900 USD | 07/28/27 | 347890 |
|  Natural Gas | 53 | NYMEX | 2,370,900 USD | 08/27/27 | 367500 |
|  Natural Gas | 60 | NYMEX | 2,620,100 USD | 09/28/27 | 311900 |
|  Natural Gas | 53 | NYMEX | 2,370,900 USD | 10/27/27 | 231290 |
|  Natural Gas | 53 | NYMEX | 2,370,900 USD | 11/26/27 | 16640 |
|  NY Harbor ULSD | 36 | NYMEX | 3,434,625 USD | 08/29/25 | 29904 |
|  NY Harbor ULSD | 12 | NYMEX | 1,084,183 USD | 09/30/25 | (44273) |
|  NY Harbor ULSD | 56 | NYMEX | 5,536,732 USD | 10/31/25 | 316233 |
|  NY Harbor ULSD | 2 | NYMEX | 183,985 USD | 11/28/25 | (344) |
|  Soybean | 241 | CBT | 7,254,100 USD | 08/14/25 | 607320 |
|  Soybean | 951 | CBT | 28,631,380 USD | 01/14/26 | 786100 |
|  Soybean | 1292 | CBT | 68,158,819 USD | 01/14/26 | 829469 |
|  Soybean Oil | 1070 | CBT | 35,471,717 USD | 12/12/25 | 1606217 |
|  Sugar | 264 | NYBOT | 4,960,889 USD | 09/30/25 | 170873 |
|  Sugar | 951 | NYBOT | 18,490,834 USD | 02/27/26 | 447701 |
|  Swiss Franc Currency | 11 | CME | 1,713,131 USD | 09/15/25 | (36763) |
|  U.S. Treasury 10-Year Note | 2524 | CBT | 279,045,163 USD | 09/19/25 | (3958337) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Exchange** | **Notional<br>Amount** | **Expiration<br>Date** | **Value/<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  U.S. Treasury 2-Year Note | 188 | CBT | 38,979,544 USD | 09/30/25 | $(128862) |
|  U.S. Treasury 5-Year Note | 258 | CBT | 27,863,035 USD | 09/30/25 | (258965) |
|  U.S. Treasury Long Bond | 268 | CBT | 30,070,399 USD | 09/19/25 | (875226) |
|  U.S. Treasury Ultra Bond | 145 | CBT | 16,915,470 USD | 09/19/25 | (357655) |
|  VSTOXX | 73 | EUREX | 144,382 EUR | 07/16/25 | 10992 |
|  VSTOXX | 3891 | EUREX | 278,765 EUR | 07/16/25 | 282537 |
|  VSTOXX | 1179 | EUREX | 35,265 EUR | 07/16/25 | (14012) |
|  VSTOXX | 164 | EUREX | 332,265 EUR | 09/17/25 | 12751 |
|  Wheat | 1457 | CBT | 41,610,043 USD | 12/12/25 | 814043 |
|  WTI Crude | 129 | ICE | 8,055,770 USD | 07/21/25 | (343420) |
|  WTI Crude | 666 | NYMEX | 43,079,117 USD | 08/20/25 | 555017 |
|  WTI Crude | 336 | NYMEX | 20,797,014 USD | 11/20/25 | 82614 |
|  WTI Crude | 64 | NYMEX | 4,049,842 USD | 12/19/25 | 117682 |
|  WTI Crude | 8 | NYMEX | 518,490 USD | 11/20/26 | 26970 |
|  Zinc | 105 | LME | 6,956,470 USD | 07/14/25 | (293990) |
|  |  |  |  |  | $(1666264) |
|  Total Futures Contracts Outstanding | Total Futures Contracts Outstanding | Total Futures Contracts Outstanding | Total Futures Contracts Outstanding | Total Futures Contracts Outstanding | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13933545) |

---

**Forward Foreign Currency Exchange Contracts Outstanding at June 30, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency<br>Purchased** | **Amount in<br>Currency<br>Purchased** | **Currency<br>Sold** | **Amount in<br>Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  COP | 8815400000 | USD | 2016091 | State Street Bank and Trust Company | 07/31/25 | $133578 |
|  HKD | 7431000 | USD | 959525 | State Street Bank and Trust Company | 07/31/25 | (10056) |
|  IDR | 10431200000 | USD | 615069 | State Street Bank and Trust Company | 07/31/25 | 29628 |
|  PEN | 70000 | USD | 18888 | State Street Bank and Trust Company | 07/31/25 | 859 |
|  PHP | 16500000 | USD | 294976 | State Street Bank and Trust Company | 07/31/25 | (2183) |
|  SGD | 1737500 | USD | 1336936 | State Street Bank and Trust Company | 07/31/25 | 32488 |
|  THB | 10400000 | USD | 313021 | State Street Bank and Trust Company | 07/31/25 | 7568 |
|  TWD | 34600000 | USD | 1174007 | State Street Bank and Trust Company | 07/31/25 | 22486 |
|  TWD | 100000000 | USD | 3499130 | State Street Bank and Trust Company | 07/31/25 | (41058) |
|  USD | 312032 | COP | 1298300000 | State Street Bank and Trust Company | 07/31/25 | (4564) |
|  USD | 12901 | HKD | 100000 | State Street Bank and Trust Company | 07/31/25 | 124 |
|  USD | 387066 | IDR | 6325700000 | State Street Bank and Trust Company | 07/31/25 | (3891) |
|  USD | 266369 | PHP | 15100000 | State Street Bank and Trust Company | 07/31/25 | (1581) |
|  USD | 697265 | SGD | 900000 | State Street Bank and Trust Company | 07/31/25 | (12077) |
|  USD | 2080311 | THB | 69200000 | State Street Bank and Trust Company | 07/31/25 | (52844) |
|  USD | 8899592 | TWD | 283900000 | State Street Bank and Trust Company | 07/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(917874) |
|  BRL | 24200000 | USD | 4230825 | State Street Bank and Trust Company | 07/02/25 | 223354 |
|  BRL | 32975284 | USD | 5986820 | JP Morgan Chase Bank N.A. | 07/03/25 | 81004 |
|  BRL | 55790587 | USD | 9847228 | JP Morgan Chase Bank N.A. | 07/07/25 | 277450 |
|  BRL | 22800000 | USD | 4106295 | State Street Bank and Trust Company | 08/04/25 | 57784 |
|  CLP | 287800000 | USD | 306423 | State Street Bank and Trust Company | 07/31/25 | 2505 |
|  CNH | 33904460 | USD | 4675000 | Bank Of America Merrill Lynch | 07/22/25 | 68498 |
|  CNH | 122500000 | USD | 17113260 | State Street Bank and Trust Company | 07/31/25 | 37264 |
|  EUR | 1158932 | USD | 1347372 | Morgan Stanley Capital Services LLC | 07/16/25 | 19052 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency<br>Purchased** | **Amount in<br>Currency<br>Purchased** | **Currency<br>Sold** | **Amount in<br>Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  GBP | 91000 | USD | 123641 | State Street Bank and Trust Company | 07/25/25 | $1283 |
|  HUF | 171400000 | USD | 476719 | State Street Bank and Trust Company | 07/31/25 | 27742 |
|  ILS | 2700000 | USD | 763798 | State Street Bank and Trust Company | 07/31/25 | 37914 |
|  INR | 499700000 | USD | 5777411 | State Street Bank and Trust Company | 07/31/25 | 45605 |
|  JPY | 41767726 | USD | 293294 | Bank Of America Merrill Lynch | 08/28/25 | (1393) |
|  JPY | 38853067 | USD | 273792 | Bank Of America Merrill Lynch | 09/29/25 | (1293) |
|  KRW | 1652000000 | USD | 1185877 | State Street Bank and Trust Company | 07/31/25 | 37204 |
|  MXN | 4400000 | USD | 221354 | State Street Bank and Trust Company | 07/31/25 | 12427 |
|  NOK | 25186566 | USD | 2445785 | State Street Bank and Trust Company | 07/31/25 | 53448 |
|  NOK | 5200000 | USD | 522052 | State Street Bank and Trust Company | 07/31/25 | (6062) |
|  SEK | 23900000 | USD | 2499488 | State Street Bank and Trust Company | 07/31/25 | 31437 |
|  TRY | 51360 | USD | 1279 | JP Morgan Chase Bank N.A. | 07/07/25 | 5 |
|  TRY | 105745560 | USD | 2554272 | JP Morgan Chase Bank N.A. | 07/10/25 | 81387 |
|  TRY | 114500000 | USD | 2706562 | State Street Bank and Trust Company | 07/31/25 | 96114 |
|  USD | 2320915 | AUD | 3637000 | State Street Bank and Trust Company | 07/25/25 | (73752) |
|  USD | 4381949 | BRL | 24200000 | State Street Bank and Trust Company | 07/02/25 | (72230) |
|  USD | 5992000 | BRL | 32975284 | JP Morgan Chase Bank N.A. | 07/03/25 | (75823) |
|  USD | 9834089 | BRL | 55790588 | JP Morgan Chase Bank N.A. | 07/07/25 | (290590) |
|  USD | 4326440 | CHF | 3535000 | State Street Bank and Trust Company | 07/31/25 | (145043) |
|  USD | 884201 | CLP | 828700000 | State Street Bank and Trust Company | 07/31/25 | (5334) |
|  USD | 18565380 | CNH | 134318000 | State Street Bank and Trust Company | 07/31/25 | (239714) |
|  USD | 712787 | CZK | 15600000 | State Street Bank and Trust Company | 07/31/25 | (31063) |
|  USD | 18272705 | EUR | 15749800 | Morgan Stanley Capital Services LLC | 07/16/25 | (296906) |
|  USD | 4877244 | EUR | 4243000 | State Street Bank and Trust Company | 07/25/25 | (128392) |
|  USD | 1140680 | EUR | 1000000 | Citibank N.A. | 08/22/25 | (41248) |
|  USD | 671863 | EUR | 584000 | Citibank N.A. | 09/09/25 | (19200) |
|  USD | 36654565 | GBP | 27473000 | State Street Bank and Trust Company | 07/25/25 | (1060085) |
|  USD | 631061 | GBP | 475000 | Citibank N.A. | 08/06/25 | (21053) |
|  USD | 94679 | GBP | 70000 | Citibank N.A. | 09/05/25 | (1446) |
|  USD | 1458067 | ILS | 5285000 | State Street Bank and Trust Company | 07/31/25 | (111212) |
|  USD | 324567 | INR | 27800000 | State Street Bank and Trust Company | 07/31/25 | 613 |
|  USD | 282100 | JPY | 41767726 | Bank Of America Merrill Lynch | 08/28/25 | (9801) |
|  USD | 263250 | JPY | 38853068 | Bank Of America Merrill Lynch | 09/29/25 | (9249) |
|  USD | 5151103 | KRW | 7295800000 | State Street Bank and Trust Company | 07/31/25 | (250439) |
|  USD | 898903 | NOK | 9200000 | State Street Bank and Trust Company | 07/31/25 | (14002) |
|  USD | 79682 | PLN | 300000 | State Street Bank and Trust Company | 07/31/25 | (3493) |
|  USD | 3315269 | SEK | 31609723 | State Street Bank and Trust Company | 07/31/25 | (32090) |
|  USD | 1276 | TRY | 51360 | JP Morgan Chase Bank N.A. | 07/07/25 | (8) |
|  USD | 7 | TRY | 300 | JP Morgan Chase Bank N.A. | 07/10/25 | 0 |
|  USD | 2553000 | TRY | 105745260 | JP Morgan Chase Bank N.A. | 07/10/25 | (82651) |
|  USD | 666812 | ZAR | 12100000 | State Street Bank and Trust Company | 07/31/25 | (15188) |
|  ZAR | 13600000 | USD | 724829 | State Street Bank and Trust Company | 07/31/25 | 41718 |
|  Total Forward Foreign Currency Exchange Contacts Outstanding | Total Forward Foreign Currency Exchange Contacts Outstanding | Total Forward Foreign Currency Exchange Contacts Outstanding | Total Forward Foreign Currency Exchange Contacts Outstanding | Total Forward Foreign Currency Exchange Contacts Outstanding | Total Forward Foreign Currency Exchange Contacts Outstanding | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2624349) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

**Centrally Cleared Credit Default Swaps on Single-Name Issuer (Buy Protection) — Outstanding at June 30, 2025** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Obligation** | **Financing<br>Fee** | **Payment<br>Frequency** | **Maturity**<br> **Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid**<br> **(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Mexico Government International Bonds | 1.00 | 3M | 12/20/29 | Bank of America<br> Securities, Inc. | 1,000,000 USD | $(1025) | $14182 | $(15207) |
|  China Government International Bonds | 1.00 | 3M | 12/20/29 | Morgan Stanley<br> Capital<br> Services LLC | 12,000,000 USD | (265499) | (225519) | (39980) |
|  China Government International Bonds | 1.00 | 3M | 12/20/29 | Morgan Stanley<br> Capital<br> Services LLC | 7,000,000 USD | (154875) | (131553) | (23322) |
|  China Government International Bonds | 1.00 | 3M | 12/20/29 | Morgan Stanley<br> Capital<br> Services LLC | 1,500,000 USD | (33187) | (29825) | (3362) |
|  China Government International Bonds | 1.00 | 3M | 12/20/29 | Morgan Stanley<br> Capital<br> Services LLC | 2,600,000 USD | (57525) | (51698) | (5827) |
|  Total Centrally Cleared Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Single-Name Issuer (Buy Protection) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(512111) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424413) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(87698) |

---

**Centrally Cleared Credit Default Swaps on Index (Buy Protection) — Outstanding at June 30, 2025** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Financing<br> Fee**  | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid (Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CDX.NA.HY.43 | 5.00% 3M | 12/20/2029 | Bank of America<br> Securities, Inc. | 100,000 USD | $(7464) | $(7431) | $(33) |
|  iTraxx Europe Xover Series 43 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 10,900,000 EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1215148) | (828851) | (386297) |
|  iTraxx Europe Xover Series 43 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 5,400,000 EUR | (602000) | (408587) | (193413) |
|  iTraxx Europe Xover Series 43 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 5,200,000 EUR | (579703) | (394124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(185579) |
|  CDX.NA.HY.44 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 10,100,000 USD | (772456) | (386830) | (385626) |
|  CDX.NA.HY.44 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 5,900,000 USD | (451237) | (225970) | (225267) |
|  CDX.NA.HY.44 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 10,100,000 USD | (772456) | (431270) | (341186) |
|  CDX.NA.HY.44 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 5,900,000 USD | (451237) | (251930) | (199307) |
|  iTraxx Europe Xover Series 43 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 8,400,000 EUR | (936444) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(672704) | (263740) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Financing<br> Fee**  | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid (Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CDX.NA.HY.44 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 9,400,000 USD | $(718919) | $(418770) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(300149) |
|  CDX.NA.HY.44 | 5.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 5,400,000 USD | (412996) | (240570) | (172426) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 5,500,000 USD | 135008 | 168300 | (33292) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 9,400,000 USD | 230741 | 287640 | (56899) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 7,700,000 USD | 189012 | 230231 | (41219) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 13,200,000 USD | 324020 | 394680 | (70660) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 17,100,000 USD | 419753 | 513000 | (93247) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 29,400,000 USD | 721680 | 882000 | (160320) |
|  iTraxx Asia Ex-Japan IG Series 43<sup>1</sup> | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 10,800,000 USD | (124359) | (96561) | (27798) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 34,300,000 USD | 841960 | 1068445 | (226485) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 48,800,000 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520120 | (322229) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 20,000,000 USD | 490939 | 617000 | (126061) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 22,300,000 USD | 547397 | 665655 | (118258) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 13,900,000 USD | 341203 | 416305 | (75102) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 18,300,000 USD | 449209 | 546255 | (97046) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 19,500,000 USD | 478665 | 584025 | (105360) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Financing<br>Fee** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid (Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 42,000,000 USD | $1030972 | $1247400 | $(216428) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 10,000,000 USD | 245469 | 297000 | (51531) |
|  Total Centrally Cleared Credit Default Swaps on Index (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Index (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Index (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Index (Buy Protection) | Total Centrally Cleared Credit Default Swaps on Index (Buy Protection) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5074458 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4474958) |

---

**Centrally Cleared Credit Default Swaps on Index (Sell Protection) — Outstanding at June 30, 2025** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Financing<br> Fee**  | **Maturity<br>Date** | **Counterparty** | **Rating** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid (Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  iTraxx Europe Main<br> Series 43 | 1.00% 3M | 6/20/2030 | Bank of America<br> Securities, Inc. | NR | 93,100,000 EUR | $2371680 | $1862013 | $509667 |
|  iTraxx Europe Xover Series 43 | 5.00% 3M | 6/20/2030 | Bank of America<br> Securities, Inc. | NR | 5,000,000 EUR | 557407 | 2226145 | (1668738) |
|  CDX.EM.43 | 1.00% 3M | 6/20/2030 | Bank of America<br> Securities, Inc. | NR | 10,000,000 USD | (245470) | (478311) | 232841 |
|  CDX.NA.IG.44 | 1.00% 3M | 6/20/2030 | Bank of America<br> Securities, Inc. | NR | 41,000,000 USD | 916625 | 927393 | (10768) |
|  Total Centrally Cleared Credit Default Swaps on Index (Sell Protection) | Total Centrally Cleared Credit Default Swaps on Index (Sell Protection) | Total Centrally Cleared Credit Default Swaps on Index (Sell Protection) | Total Centrally Cleared Credit Default Swaps on Index (Sell Protection) | Total Centrally Cleared Credit Default Swaps on Index (Sell Protection) | Total Centrally Cleared Credit Default Swaps on Index (Sell Protection) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600242 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4537240 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(936998) |

---

**OTC Credit Default Swaps on Single-Name Issuer (Buy Protection) — Outstanding at June 30, 2025** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Financing<br> Fee**  | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid**<br> **(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Qatar Government International Bonds | 1.00% 3M | 06/20/2029 | Goldman Sachs<br> International | 13,000,000 USD | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(356615) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(333749) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22866) |
|  Qatar Government International Bonds | 1.00% 3M | 06/20/2029 | Goldman Sachs<br> International | 7,000,000 USD | (192023) | (179710) | (12313) |
|  China Government International Bonds | 1.00% 3M | 12/20/2027 | Citibank N.A. | 23,700,000 USD | (374960) | (411704) | 36744 |
|  China Government International Bonds | 1.00% 3M | 12/20/2027 | Citibank N.A. | 13,800,000 USD | (218331) | (239726) | 21395 |
|  Industrial & Commercial Bank of China Ltd. | 1.00% 3M | 12/20/2027 | Goldman Sachs<br> International | 2,200,000 USD | (36314) | (37174) | 860 |
|  Industrial & Commercial Bank of China Ltd. | 1.00% 3M | 12/20/2027 | Goldman Sachs<br> International | 3,800,000 USD | (62724) | (64210) | 1486 |
|  China Construction Bank Corp. | 1.00% 3M | 12/20/2027 | Barclays Bank<br> PLC | 6,700,000 USD | (112294) | (115160) | 2866 |
|  China Construction Bank Corp. | 1.00% 3M | 12/20/2027 | Barclays Bank<br> PLC | 11,400,000 USD | (191067) | (195944) | 4877 |
|  China Development Bank | 1.00% 3M | 12/20/2027 | Morgan Stanley<br> Capital<br> Services LLC | 3,600,000 USD | (66422) | (60307) | (6115) |
|  China Development Bank | 1.00% 3M | 12/20/2027 | Morgan Stanley<br> Capital<br> Services LLC | 2,200,000 USD | (40591) | (36854) | (3737) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Financing<br> Fee**  | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid**<br> **(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Bank of China Ltd. | 1.00% 3M | 12/20/2027 | Goldman Sachs<br> International | 8,500,000 USD | $(132081) | $(143460) | $11379 |
|  Bank of China Ltd. | 1.00% 3M | 12/20/2027 | Goldman Sachs<br> International | 4,800,000 USD | (74587) | (81013) | 6426 |
|  Turkiye Government International Bonds | 1.00% 3M | 06/20/2027 | Goldman Sachs<br> International | 1,900,000 USD | 30175 | 82827 | (52652) |
|  Turkiye Government International Bonds | 1.00% 3M | 06/20/2027 | Goldman Sachs<br> International | 1,100,000 USD | 17470 | 47504 | (30034) |
|  Turkiye Government International Bonds | 1.00% 3M | 12/20/2026 | Goldman Sachs<br> International | 4,800,000 USD | 47140 | 26877 | 20263 |
|  Turkiye Government International Bonds | 1.00% 3M | 12/20/2026 | Goldman Sachs<br> International | 8,300,000 USD | 81513 | 46475 | 35038 |
|  Turkiye Government International Bonds | 1.00% 3M | 06/20/2027 | Goldman Sachs<br> International | 3,300,000 USD | 52409 | 82887 | (30478) |
|  Turkiye Government International Bonds | 1.00% 3M | 12/20/2026 | Goldman Sachs<br> International | 4,800,000 USD | 47140 | 29986 | 17154 |
|  Turkiye Government International Bonds | 1.00% 3M | 12/20/2026 | Goldman Sachs<br> International | 8,200,000 USD | 80531 | 51225 | 29306 |
|  Turkiye Government International Bonds | 1.00% 3M | 06/20/2027 | Goldman Sachs<br> International | 2,000,000 USD | 31763 | 48248 | (16485) |
|  Turkiye Government International Bonds | 1.00% 3M | 12/20/2026 | Goldman Sachs<br> International | 3,400,000 USD | 33391 | 29855 | 3536 |
|  Turkiye Government International Bonds | 1.00% 3M | 12/20/2026 | Goldman Sachs<br> International | 5,800,000 USD | 56961 | 50929 | 6032 |
|  Republic of Peru | 1.00% 3M | 06/20/2030 | JP Morgan Chase<br> & Co. | 4,215,000 USD | (35484) | (15734) | (19750) |
|  Republic of Peru | 1.00% 3M | 06/20/2030 | JP Morgan Chase<br> Bank N.A. | 7,206,000 USD | (60663) | (26898) | (33765) |
|  Mexico Government International Bonds | 1.00% 3M | 06/20/2030 | Goldman Sachs<br> International | 11,800,000 USD | 35984 | 179194 | (143210) |
|  Saudi Government International Bonds | 1.00% 3M | 06/20/2035 | Goldman Sachs<br> International | 19,900,000 USD | 115638 | 509698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(394060) |
|  Saudi Government International Bonds | 1.00% 3M | 06/20/2035 | Goldman Sachs<br> International | 11,600,000 USD | 67407 | 297110 | (229703) |
|  Mexico Government International Bonds | 1.00% 3M | 06/20/2030 | Morgan Stanley<br> Capital<br> Services LLC | 6,900,000 USD | 21042 | 123654 | (102612) |
|  Saudi Government International Bonds | 1.00% 3M | 06/20/2035 | Goldman Sachs<br> International | 10,200,000 USD | 59272 | 177102 | (117830) |
|  Saudi Government International Bonds | 1.00% 3M | 06/20/2035 | Goldman Sachs<br> International | 17,500,000 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303852 | (202160) |
|  Mexico Government International Bonds | 1.00% 3M | 06/20/2030 | Citibank N.A. | 4,900,000 USD | 14943 | 95669 | (80726) |
|  Mexico Government International Bonds | 1.00% 3M | 06/20/2030 | Citibank N.A. | 2,800,000 USD | 8539 | 54668 | (46129) |
|  Mexico Government International Bonds | 1.00% 3M | 06/20/2030 | JP Morgan Chase<br> & Co. | 2,400,000 USD | 7319 | 46591 | (39272) |
|  Mexico Government International Bonds | 1.00% 3M | 06/20/2030 | JP Morgan Chase<br> Bank N.A. | 4,000,000 USD | 12198 | 77652 | (65454) |
|  Turkiye Government International Bonds | 1.00% 3M | 12/20/2027 | Goldman Sachs<br> International | 200,000 USD | 4897 | 4919 | (22) |
|  Turkiye Government International Bonds | 1.00% 3M | 12/20/2027 | Goldman Sachs<br> International | 500,000 USD | 12241 | 12296 | (55) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Financing<br> Fee**  | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid**<br> **(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Republic of South Africa | 1.00% 3M | 06/20/2030 | Goldman Sachs<br> International | 10,100,000 USD | $381159 | $478177 | $(97018) |
|  Republic of South Africa | 1.00% 3M | 06/20/2030 | Goldman Sachs<br> International | 5,900,000 USD | 222657 | 279331 | (56674) |
|  Total OTC Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total OTC Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total OTC Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total OTC Credit Default Swaps on Single-Name Issuer (Buy Protection) | Total OTC Credit Default Swaps on Single-Name Issuer (Buy Protection) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(410675) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195083 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1605758) |

---

**OTC Credit Default Swaps on Index (Sell Protection) — Outstanding at June 30, 2025** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Obligation** | **Financing<br> Fee**  | **Maturity<br>Date** | **Counterparty** | **Rating<sup>2</sup>** | **Notional<br>Amount<sup>3</sup>** | **Market<br>Value** | **Upfront<br>Premium<br>Paid**<br> **(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CMBX.NA.A.8 | 2.00% M | 10/17/2057 | Goldman Sachs<br>International | A | 432,000 USD | $(14638) | $(3376) | $(11262) |
|  CMBX.NA.BBB-.10 | 3.00% M | 11/17/2059 | Goldman Sachs<br>International | BBB | 5,052,000 USD | (950787) | (207051) | (743736) |
|  Total OTC Credit Default Swaps on Index (Sell Protection) | Total OTC Credit Default Swaps on Index (Sell Protection) | Total OTC Credit Default Swaps on Index (Sell Protection) | Total OTC Credit Default Swaps on Index (Sell Protection) | Total OTC Credit Default Swaps on Index (Sell Protection) | Total OTC Credit Default Swaps on Index (Sell Protection) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(965425) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(210427) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(754998) |

---

1 Security is valued using significant unobservable inputs.

2 Using the higher of S&P's or Moody's rating. NR represents a security that is not rated.

---

| | |
|:---|:---|
| 3 | The maximum potential amount the Fund could be required to pay as a seller of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.  |

---

**Variance/Volatility Swaps (Buy Contracts) — Outstanding at June 30, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid**<br> **(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  S&P 500 Index | 9/19/25 | JP Morgan Chase<br>Bank N.A. | 2,017 USD | $9284 | $— | $9284 |
|  Variance Swap - SX5E<br>(21.2% - 2025-09-19) | 9/19/25 | Morgan Stanley<br> CapitalServices LLC | 1,404 EUR | (226923) |  | (226923) |
|  S&P 500 Index | 9/19/25 | Morgan Stanley<br> CapitalServices LLC | 2,251 USD | (320321) |  | (320321) |
|  Variance Swap - SX5E<br>(20.45% - 2025-09-19) | 9/19/25 | Goldman Sachs<br>International | 2,323 EUR | (261797) |  | (261797) |
|  S&P 500 Index | 9/19/25 | Bank of America<br>N.A. | 2,482 USD | (309265) |  | (309265) |
|  S&P 500 Index | 9/19/25 | Citibank N.A. | 1,256 USD | (53786) |  | (53786) |
|  S&P 500 Index | 9/19/25 | Morgan Stanley<br> CapitalServices LLC | 1,071 USD | (44703) |  | (44703) |
|  Total Variance/Volatility Swaps (Buy Contracts) | Total Variance/Volatility Swaps (Buy Contracts) | Total Variance/Volatility Swaps (Buy Contracts) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1207511) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1207511) |

---

**Variance/Volatility Swaps (Sell Contracts) — Outstanding at June 30, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid**<br> **(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  S&P 500 Index | 9/19/2025 | Morgan Stanley<br> CapitalServices LLC | (3350) USD | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(391996) | $— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(391996) |
|  S&P 500 Index | 9/19/2025 | Bank of<br>America N.A. | (4450) USD | (534836) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | (534836) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Obligation** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  S&P 500 Index | 9/19/2025 | Morgan Stanley Capital<br> Services LLC | (2205) | USD | $(251883) | $— | $(251883) |
|  S&P 500 Index | 9/19/2025 | Citibank N.A. | (3281) | USD | (380133) |  | (380133) |
|  S&P 500 Index | 9/19/2025 | Citibank N.A. | (4362) | USD | (513223) |  | (513223) |
|  Variance Swap - SX5E (19.7% - 2025-09-19) | 9/19/2025 | Morgan Stanley Capital<br> Services LLC | (3240) | EUR | (9229) |  | (9229) |
|  S&P 500 Index | 9/19/2025 | Bank of America N.A. | (2017) | USD | (159454) |  | (159454) |
|  Variance Swap - SX5E (19.3% - 2025-09-19) | 9/19/2025 | Goldman Sachs International | (3307) | EUR | (164194) |  | (164194) |
|  S&P 500 Index | 9/19/2025 | Morgan Stanley Capital<br> Services LLC | (3121) | USD | (429547) |  | (429547) |
|  Variance Swap - SX5E (19.6% - 2025-09-19) | 9/19/2025 | Goldman Sachs International | (2168) | EUR | (202193) |  | (202193) |
|  Total Variance/Volatility Swaps (Sell Contracts) | Total Variance/Volatility Swaps (Sell Contracts) | Total Variance/Volatility Swaps (Sell Contracts) | Total Variance/Volatility Swaps (Sell Contracts) | Total Variance/Volatility Swaps (Sell Contracts) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3036688) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3036688) |

---

**OTC Total Return Swaps Outstanding at June 30, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Instrument** | **Termination<br> Date<sup>1</sup>**  | **Payment<br>Frequency** | **Financing<br> Rate**  | **Counterparty** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Buys** |  |  |  |  |  |  |
|  Admiral Acquisition Ltd. | 07/21/25 | M | 4.33% | Morgan Stanley Capital Services LLC | 279,955 USD | $83986 |
|  Cheniere Energy, Inc. | 07/21/25 | M | 4.63% | Morgan Stanley Capital Services LLC | 5,418,182 USD | 256078 |
|  CSI 1000 Net Total Return Index | 07/21/25 | M | 13.10% | Goldman Sachs International | 37,650,151 USD | 1865606 |
|  DT Midstream, Inc. | 07/21/25 | M | 4.63% | Morgan Stanley Capital Services LLC | 1,694,579 USD | 59694 |
|  Dubai Residential REIT | 07/21/25 | M | 5.58% | Morgan Stanley Capital Services LLC | 59,353 USD | 2 |
|  Egypt Treasury Bills | 07/21/25 | M | 0.00% | Goldman Sachs International | 779,550,000 USD | 14709993 |
|  Egypt Treasury Bills | 07/21/25 | M | 0.00% | Goldman Sachs International | 455,200,000 USD | 8589557 |
|  Enbridge, Inc. | 07/21/25 | M | 4.63% | Morgan Stanley Capital Services LLC | 6,202,586 USD | 53839 |
|  Energy Transfer LP | 07/21/25 | M | 5.23% | Morgan Stanley Capital Services LLC | 7,134,851 USD | 198190 |
|  Enterprise Products Partners LP | 07/21/25 | M | 5.23% | Morgan Stanley Capital Services LLC | 3,275,411 USD | 13789 |
|  Hacksaw AB | 07/21/25 | M | 2.56% | Morgan Stanley Capital Services LLC | 76,330,625 SEK | (353682) |
|  Intermestic, Inc. | 07/21/25 | M | 0.48% | Goldman Sachs & Co. | 364,803,600 JPY | 90118 |
|  Kinder Morgan, Inc. | 07/21/25 | M | 4.63% | Morgan Stanley Capital Services LLC | 3,638,694 USD | 169693 |
|  Logistea AB | 07/21/25 | M | 2.61% | Morgan Stanley Capital Services LLC | 1,525,762 SEK | 5154 |
|  Martin Midstream Partners LP | 07/21/25 | M | 5.23% | Morgan Stanley Capital Services LLC | 382,367 USD | (21989) |
|  MPLX LP | 07/21/25 | M | 5.23% | Morgan Stanley Capital Services LLC | 11,569,594 USD | 85986 |
|  MS Alpha Swap | 07/21/25 | M | 0.20% | Morgan Stanley Capital Services LLC | 164,393,003 USD | 2007601 |
|  MS Alpha Swap | 07/21/25 | M | 0.30% | Morgan Stanley Capital Services LLC | 131,788,794 USD | (126294) |
|  MS Alpha Swap | 07/21/25 | M | 0.30% | Morgan Stanley Capital Services LLC | 99,014,300 USD | (665401) |
|  MS Alpha Swap | 07/21/25 | M | 0.75% | Morgan Stanley Capital Services LLC | 161,657,759 USD | 1489861 |
|  MS Alpha Swap | 07/21/25 | M | 4.98% | Morgan Stanley Capital Services LLC | 236,454,895 USD | 2433771 |
|  Ping An Insurance Group Co. of China Ltd. | 07/21/25 | M | 0.33% | Citibank N.A. | 613,732 USD | 22518 |
|  Plains All American Pipeline LP | 07/21/25 | M | 5.23% | Morgan Stanley Capital Services LLC | 2,069,550 USD | 7938 |
|  Repsol SA | 07/21/25 | M | 2.43% | Morgan Stanley Capital Services LLC | 417,300 EUR | (16201) |
|  Shandong BoAn Biotechnology Co., Ltd. | 07/21/25 | M | 0.57% | Morgan Stanley Capital Services LLC | 162 HKD | (2) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Instrument** | **Termination<br> Date<sup>1</sup>**  | **Payment<br>Frequency** | **Financing<br> Rate**  | **Counterparty** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  SK Hynix, Inc. | 07/21/25 | M | 4.78% | Morgan Stanley Capital Services LLC | 327,635 USD | $49673 |
|  SPDR S&P Biotech ETF | 07/21/25 | M | 4.48% | Morgan Stanley Capital Services LLC | 35,376,100 USD | 283800 |
|  Taiwan Semiconductor<br>Manufacturing Co., Ltd. | 07/21/25 | M | 4.78% | Morgan Stanley Capital Services LLC | 4,607,862 USD | 310715 |
|  Targa Resources Corp. | 07/21/25 | M | 4.63% | Morgan Stanley Capital Services LLC | 6,292,686 USD | 357170 |
|  Western Midstream Partners LP | 07/21/25 | M | 5.23% | Morgan Stanley Capital Services LLC | 2,858,340 USD | 739 |
|  Williams Cos., Inc. (The) | 07/21/25 | M | 4.63% | Morgan Stanley Capital Services LLC | 16,114,352 USD | 620808 |
|  Total Buys |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32582710 |
|  **Sells** |  |  |  |  |  |  |
|  ADT, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (1125324) USD | (1330) |
|  Alerian MLP Index ETN | 07/21/25 | M | 3.20% | Morgan Stanley Capital Services LLC | (4547632) USD | 11991 |
|  Amer Sports, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (592914) USD | (153) |
|  American Electric Power Co., Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (4114206) USD | (26337) |
|  American Integrity Insurance Group, Inc. | 07/21/25 | M | 1.35% | Morgan Stanley Capital Services LLC | (238470) USD | (6135) |
|  Aspen Insurance Holdings Ltd. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (491175) USD | (11149) |
|  Atlas Energy Solutions, Inc. | 07/21/25 | M | 2.80% | Morgan Stanley Capital Services LLC | (895211) USD | 5986 |
|  BBB Foods, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (1815149) USD | (31113) |
|  Birkenstock Holding PLC | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2623105) USD | 6385 |
|  Bowhead Specialty Holdings, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (492937) USD | (6287) |
|  BrightSpring Health Services, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (939962) USD | (1397) |
|  Brown & Brown, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (21905939) USD | (215398) |
|  Cal-Maine Foods, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (1845535) USD | (9875) |
|  Carrier Global Corp. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (1946881) USD | (266) |
|  Chime Financial, Inc. | 07/21/25 | M | 1.40% | Morgan Stanley Capital Services LLC | (917838) USD | (266) |
|  Crescent Energy Co. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (582952) USD | 10974 |
|  Elbit Systems Ltd. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2915780) USD | (74294) |
|  Etoro Group Ltd. | 07/21/25 | M | 1.25% | Morgan Stanley Capital Services LLC | (442890) USD | (67) |
|  Flowco Holdings, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (331927) USD | 251 |
|  Galaxy Digital, Inc. | 07/21/25 | M | 0.90% | Morgan Stanley Capital Services LLC | (2874753) USD | (37487) |
|  Grupo Financiero Galicia SA | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2731754) USD | 50654 |
|  GS Japan Mothers Index | 07/21/25 | M | 0.48% | Goldman Sachs & Co. | (679962587) JPY | (20367) |
|  GS Japan Pharma Index | 07/21/25 | M | 0.48% | Goldman Sachs & Co. | (145101981) JPY | (4209) |
|  Guardian Pharmacy Services, Inc. | 07/21/25 | M | 3.60% | Morgan Stanley Capital Services LLC | (1118281) USD | (15582) |
|  Hinge Health, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2494466) USD | (258996) |
|  Hon Hai Precision Industry Co., Ltd. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (214824) USD | (11387) |
|  IDACORP, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2290166) USD | (13408) |
|  Infinity Natural Resources, Inc. | 07/21/25 | M | 2.65% | Morgan Stanley Capital Services LLC | (245160) USD | 1601 |
|  Karman Holdings, Inc. | 07/21/25 | M | 3.55% | Morgan Stanley Capital Services LLC | (4617022) USD | (73030) |
|  Kodiak Gas Services, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (1821052) USD | (2352) |
|  Kratos Defense & Security Solutions, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (5896242) USD | (282397) |
|  Landbridge Co., LLC | 07/21/25 | M | 3.65% | Morgan Stanley Capital Services LLC | (1797099) USD | (732) |
|  Lineage, Inc. | 07/21/25 | M | 3.75% | Morgan Stanley Capital Services LLC | (2349662) USD | 34093 |
|  Live Nation Entertainment, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (6010691) USD | (26137) |
|  LPL Financial Holdings, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (4921141) USD | (66710) |
|  MakeMyTrip Ltd. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (1955594) USD | (200) |
|  Marex Group PLC | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2326778) USD | 2271 |
|  MediaTek, Inc. | 07/21/25 | M | 3.95% | Morgan Stanley Capital Services LLC | (105381) USD | (1741) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Instrument** | **Termination<br> Date<sup>1</sup>**  | **Payment<br>Frequency** | **Financing<br> Rate**  | **Counterparty** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Micron Technology, Inc. | 07/21/25 | M | 4.28% | Bank Of America Merrill Lynch | (347806) USD | $(3333) |
|  Microsoft Corp. | 07/21/25 | M | 4.33% | Goldman Sachs & Co. | (51415398) USD | (1207098) |
|  MNTN, Inc. | 07/21/25 | M | 1.10% | Morgan Stanley Capital Services LLC | (151674) USD | 9125 |
|  Morgan Stanley Equity Index Swap - MSSVAS1 | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2284244) USD | (123658) |
|  Morgan Stanley Equity Index Swap - MSSVPRMB | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2597749) USD | 16236 |
|  MS Equity Index Swap - MSHVHEAT | 07/21/25 | M | 4.01% | Morgan Stanley Capital Services LLC | (57712343) USD | (1600135) |
|  Nasdaq, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (11830399) USD | (63981) |
|  NVIDIA Corp. | 07/21/25 | M | 4.28% | Bank Of America Merrill Lynch | (821048) USD | (78705) |
|  Oklo, Inc. | 07/21/25 | M | 1.25% | Morgan Stanley Capital Services LLC | (2978528) USD | (532) |
|  ONEOK, Inc. | 07/21/25 | M | 4.08% | Morgan Stanley Capital Services LLC | (1974690) USD | (44019) |
|  Onestream, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (3706419) USD | (57963) |
|  Ping An Insurance Group Co. of China Ltd. | 07/21/25 | M | 5.08% | Citibank N.A. | (3253750) HKD | (22764) |
|  Primo Brands Corp. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (12101686) USD | (112180) |
|  Quanta Computer, Inc. | 07/21/25 | M | 3.69% | Morgan Stanley Capital Services LLC | (184698) USD | 1274 |
|  SailPoint, Inc. | 07/21/25 | M | 3.75% | Morgan Stanley Capital Services LLC | (3070465) USD | 29696 |
|  Sandisk Corp. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (6206109) USD | 173788 |
|  ServiceTitan, Inc. | 07/21/25 | M | 2.80% | Morgan Stanley Capital Services LLC | (5703617) USD | 891 |
|  Smithfield Foods, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (1549187) USD | (15746) |
|  Standardaero, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (6155206) USD | (159760) |
|  Take-Two Interactive Software, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (6460515) USD | (266) |
|  TotalEnergies SE | 07/21/25 | M | 4.08% | Morgan Stanley Capital Services LLC | (117535) USD | (211) |
|  TWFG, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (370946) USD | (1489) |
|  UL Solutions, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (4814132) USD | (31641) |
|  Viper Energy, Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (2037629) USD | 8846 |
|  Vita Coco Co., Inc. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (948605) USD | (11799) |
|  Waystar Holding Corp. | 07/21/25 | M | 3.93% | Morgan Stanley Capital Services LLC | (6305238) USD | (218432) |
|  Wistron Corp. | 07/21/25 | M | 5.25% | Morgan Stanley Capital Services LLC | (45771) USD | (2612) |
|  Total Sells |  |  |  |  |  | $(4591064) |
|  Total OTC Total Return Swaps Outstanding | Total OTC Total Return Swaps Outstanding | Total OTC Total Return Swaps Outstanding | Total OTC Total Return Swaps Outstanding | Total OTC Total Return Swaps Outstanding |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27991646 |

---

---

| | |
|:---|:---|
| 1 | The termination date presented for OTC Total Return Swaps is the monthly settlement date.  |

---

**Centrally Cleared Interest Rate Swaps Outstanding at June 30, 2025** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | USD SOFR | 3.32% | 1Y/1Y | 09/22/2037 | Morgan Stanley<br> Capital<br> Services LLC | 2,800,000 USD | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172427 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172427 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | USD SOFR | 4.21% | 1Y/1Y | 04/18/2026 | Morgan Stanley<br> Capital<br> Services LLC | 500,000 USD | $(672) | $— | $(672) |
|  Pays | USD SOFR | 3.19% | 1Y/1Y | 12/01/2037 | Morgan Stanley<br> Capital<br> Services LLC | 3,000,000 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222335 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222335 |
|  Pays | USD SOFR | 3.87% | 1Y/1Y | 02/23/2029 | Morgan Stanley<br> Capital<br> Services LLC | 4,000,000 USD | (57095) |  | (57095) |
|  Pays | USD SOFR | 2.72% | 6M/3M | 09/08/2028 | Morgan Stanley<br> Capital<br> Services LLC | 1,000,000 USD | 23545 | (192) | 23737 |
|  Pays | USD SOFR | 2.39% | 6M/3M | 11/16/2028 | Morgan Stanley<br> Capital<br> Services LLC | 4,000,000 USD | 175298 | (930) | 176228 |
|  Pays | USD SOFR | 2.67% | 6M/3M | 09/13/2028 | Morgan Stanley<br> Capital<br> Services LLC | 2,500,000 USD | 61906 | (306) | 62212 |
|  Pays | USD SOFR | 2.43% | 6M/3M | 10/11/2026 | Morgan Stanley<br> Capital<br> Services LLC | 3,000,000 USD | 73406 | (796) | 74202 |
|  Pays | USD SOFR | 1.88% | 6M/3M | 01/24/2027 | Morgan Stanley<br> Capital<br> Services LLC | 1,500,000 USD | 46222 | (243) | 46465 |
|  Pays | USD SOFR | 1.32% | 6M/3M | 02/28/2027 | Morgan Stanley<br> Capital<br> Services LLC | 5,000,000 USD | 201894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1377) | 203271 |
|  Pays | USD SOFR | 1.61% | 6M/3M | 03/23/2027 | Morgan Stanley<br> Capital<br> Services LLC | 7,000,000 USD | 234857 | (2068) | 236925 |
|  Pays | USD SOFR | 1.62% | 6M/3M | 03/24/2027 | Morgan Stanley<br> Capital<br> Services LLC | 7,000,000 USD | 233455 | (1880) | 235335 |
|  Pays | USD SOFR | 0.80% | 6M/3M | 01/13/2026 | Morgan Stanley<br> Capital<br> Services LLC | 80,000 USD | 2038 | (21) | 2059 |
|  Pays | USD SOFR | 0.95% | 6M/3M | 01/13/2027 | Morgan Stanley<br> Capital<br> Services LLC | 940,000 USD | 46259 | (268) | 46527 |
|  Pays | USD SOFR | 0.71% | 6M/3M | 01/22/2026 | Morgan Stanley<br> Capital<br> Services LLC | 12,000,000 USD | 315690 | (5364) | 321054 |
|  Pays | USD SOFR | 2.72% | 6M/3M | 08/08/2028 | Morgan Stanley<br> Capital<br> Services LLC | 3,000,000 USD | 73479 | (631) | 74110 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | USD SOFR | 2.58% | 6M/3M | 08/05/2025 | Morgan Stanley<br> Capital<br> Services LLC | 7,000,000 USD | $(7947) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1845) | $(6102) |
|  Pays | USD SOFR | 2.83% | 6M/3M | 07/29/2029 | Morgan Stanley<br> Capital<br> Services LLC | 3,000,000 USD | 84758 | (725) | 85483 |
|  Receives | USD SOFR | 0.98% | 3M/6M | 03/25/2030 | Morgan Stanley<br> Capital<br> Services LLC | (3000000) USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(345481) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(345481) |
|  Pays | USD SOFR | 2.40% | 6M/3M | 01/25/2027 | Morgan Stanley<br> Capital<br> Services LLC | 2,900,000 USD | 47567 |  | 47567 |
|  Pays | USD SOFR | 1.56% | 6M/3M | 09/26/2026 | Morgan Stanley<br> Capital<br> Services LLC | 1,800,000 USD | 41339 |  | 41339 |
|  Pays | USD SOFR | 2.27% | 6M/3M | 01/25/2026 | Morgan Stanley<br> Capital<br> Services LLC | 2,000,000 USD | 18118 |  | 18118 |
|  Pays | USD SOFR | 1.24% | M/M | 04/19/2028 | Morgan Stanley<br> Capital<br> Services LLC | 700,000 USD | 44798 |  | 44798 |
|  Pays | USD SOFR | 1.62% | 6M/3M | 07/25/2026 | Morgan Stanley<br> Capital<br> Services LLC | 1,900,000 USD | 46008 |  | 46008 |
|  Pays | USD SOFR | 1.90% | 6M/3M | 08/27/2029 | Morgan Stanley<br> Capital<br> Services LLC | 1,650,000 USD | 92717 |  | 92717 |
|  Pays | USD SOFR | 3.17% | M/M | 05/04/2032 | Morgan Stanley<br> Capital<br> Services LLC | 6,500,000 USD | 156277 |  | 156277 |
|  Pays | USD SOFR | 0.66% | 6M/3M | 03/11/2035 | Morgan Stanley<br> Capital<br> Services LLC | 1,500,000 USD | 371651 |  | 371651 |
|  Pays | USD SOFR | 3.49% | 1Y/1Y | 06/30/2038 | Morgan Stanley<br> Capital<br> Services LLC | 8,000,000 USD | 434184 |  | 434184 |
|  Pays | JPY TONA | 0.69% | M/M | 09/29/2027 | Bank of America<br> Securities, Inc. | 12,539,059 JPY | 23120 |  | 23120 |
|  Receives | USD SOFR | 3.96% | M/M | 09/29/2027 | Bank of America<br> Securities, Inc. | (2100000) USD | 25042 | (308) | 25350 |
|  Pays | JPY TONA | 0.71% | M/M | 09/29/2027 | Bank of America<br> Securities, Inc. | 12,519,709 JPY | 18845 |  | 18845 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | USD SOFR | 3.92% | M/M | 11/10/2027 | Bank of America<br> Securities, Inc. | (1800000) USD | $21791 | $— | $21791 |
|  Pays | USD SOFR | 3.68% | 1Y/1Y | 02/01/2034 | Morgan Stanley<br> Capital<br> Services LLC | 5,000,000 USD | (6401) |  | (6401) |
|  Receives | EUR-EURIBOR | 2.67% | 1Y/6M | 03/28/2039 | Bank of America<br> Securities, Inc. | (649770) EUR | (5886) | 1463 | (7349) |
|  Receives | EUR-EURIBOR | 2.65% | 1Y/6M | 04/04/2039 | Bank of America<br> Securities, Inc. | (649650) EUR | (7339) | 3727 | (11066) |
|  Receives | EUR-EURIBOR | 2.58% | 1Y/6M | 04/03/2034 | Bank of America<br> Securities, Inc. | (323655) EUR | 1512 | (298) | 1810 |
|  Receives | EUR-EURIBOR | 2.61% | 1Y/6M | 04/04/2039 | Bank of America<br> Securities, Inc. | (215770) EUR | (3812) | (161) | (3651) |
|  Pays | USD SOFR | 3.83% | 1Y/1Y | 04/03/2034 | Bank of America<br> Securities, Inc. | 300,000 USD | (4157) | 86 | (4243) |
|  Receives | GBP SONIA | 3.72% | 1Y/1Y | 03/28/2039 | Bank of America<br> Securities, Inc. | (252430) GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14725) | 289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15014) |
|  Pays | CAD CORRA | 3.45% | 6M/6M | 04/03/2034 | Bank of America<br> Securities, Inc. | 442,952 CAD | (19814) | 1452 | (21266) |
|  Pays | CAD CORRA | 3.48% | 6M/6M | 04/03/2034 | Bank of America<br> Securities, Inc. | 220,986 CAD | (10525) | 2215 | (12740) |
|  Receives | EUR-EURIBOR | 2.58% | 1Y/6M | 04/04/2034 | Bank of America<br> Securities, Inc. | (323040) EUR | 1443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3392) | 4835 |
|  Receives | EUR-EURIBOR | 2.61% | 1Y/6M | 04/04/2039 | Bank of America<br> Securities, Inc. | (215360) EUR | (3693) | (3176) | (517) |
|  Pays | USD SOFR | 3.94% | 1Y/1Y | 04/04/2034 | Bank of America<br> Securities, Inc. | 300,000 USD | (6779) | 1119 | (7898) |
|  Pays | CAD CORRA | 3.60% | 6M/6M | 04/03/2034 | Bank of America<br> Securities, Inc. | 221,019 CAD | (12514) | 1363 | (13877) |
|  Receives | GBP SONIA | 3.72% | 1Y/1Y | 04/04/2039 | Bank of America<br> Securities, Inc. | (251530) GBP | (14751) | (4114) | (10637) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | EUR-EURIBOR | 2.71% | 1Y/6M | 04/05/2039 | Bank of America<br> Securities, Inc. | (216690) EUR | $(874) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(246) | $(628) |
|  Pays | CAD CORRA | 3.62% | 6M/6M | 04/04/2034 | Bank of America<br> Securities, Inc. | 221,672 CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12879) | 863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13742) |
|  Pays | SEK STIBOR | 2.55% | 1Y/3M | 04/06/2054 | Bank of America<br> Securities, Inc. | 122,095 SEK | 1901 | 343 | 1558 |
|  Receives | EUR-EURIBOR | 2.68% | 1Y/6M | 04/11/2034 | Bank of America<br> Securities, Inc. | (325005) EUR | 4419 | 1236 | 3183 |
|  Receives | EUR-EURIBOR | 2.69% | 1Y/6M | 04/12/2039 | Bank of America<br> Securities, Inc. | (216670) EUR | (1306) | 694 | (2000) |
|  Pays | USD SOFR | 3.97% | 1Y/1Y | 04/10/2034 | Bank of America<br> Securities, Inc. | 300,000 USD | (7464) | (280) | (7184) |
|  Receives | GBP SONIA | 3.82% | 1Y/1Y | 04/04/2039 | Bank of America<br> Securities, Inc. | (252770) GBP | (11907) | 657 | (12564) |
|  Pays | SEK STIBOR | 2.54% | 1Y/3M | 04/08/2054 | Bank of America<br> Securities, Inc. | 122,084 SEK | 2145 | (473) | 2618 |
|  Pays | CAD CORRA | 3.56% | 6M/6M | 04/10/2034 | Bank of America<br> Securities, Inc. | 220,742 CAD | (11760) | 101 | (11861) |
|  Receives | EUR-EURIBOR | 2.71% | 1Y/6M | 04/12/2039 | Bank of America<br> Securities, Inc. | (217140) EUR | (777) | (522) | (255) |
|  Pays | USD SOFR | 4.02% | 1Y/1Y | 04/10/2034 | Bank of America<br> Securities, Inc. | 300,000 USD | (8725) | 711 | (9436) |
|  Pays | USD SOFR | 4.02% | 1Y/1Y | 04/11/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | (3601) | 658 | (4259) |
|  Pays | CAD CORRA | 3.61% | 6M/6M | 04/10/2034 | Bank of America<br> Securities, Inc. | 220,954 CAD | (12675) | 373 | (13048) |
|  Receives | EUR-EURIBOR | 2.73% | 1Y/6M | 04/12/2039 | Bank of America<br> Securities, Inc. | (217120) EUR | (164) | 1610 | (1774) |
|  Pays | SEK STIBOR | 2.55% | 1Y/3M | 04/13/2054 | Bank of America<br> Securities, Inc. | 121,265 SEK | 1959 | 526 | 1433 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | EUR-EURIBOR | 2.72% | 1Y/6M | 04/15/2039 | Bank of America<br> Securities, Inc. | (214550) EUR | $(686) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1351) | $665 |
|  Pays | CAD CORRA | 3.71% | 6M/6M | 04/12/2034 | Bank of America<br> Securities, Inc. | 219,258 CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14433) | 285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14718) |
|  Receives | EUR-EURIBOR | 2.76% | 1Y/6M | 04/18/2039 | Bank of America<br> Securities, Inc. | (212760) EUR | 647 | 2411 | (1764) |
|  Receives | GBP SONIA | 3.96% | 1Y/1Y | 04/12/2039 | Bank of America<br> Securities, Inc. | (248940) GBP | (7545) | 2176 | (9721) |
|  Receives | EUR-EURIBOR | 2.76% | 1Y/6M | 04/18/2039 | Bank of America<br> Securities, Inc. | (212440) EUR | 528 | (1709) | 2237 |
|  Receives | EUR-EURIBOR | 2.75% | 1Y/6M | 04/18/2034 | Bank of America<br> Securities, Inc. | (318660) EUR | 6304 | (1780) | 8084 |
|  Pays | SEK STIBOR | 2.62% | 1Y/3M | 04/20/2054 | Bank of America<br> Securities, Inc. | 118,641 SEK | 137 | 2016 | (1879) |
|  Receives | EUR-EURIBOR | 2.78% | 1Y/6M | 04/22/2039 | Bank of America<br> Securities, Inc. | (212870) EUR | 979 | (22) | 1001 |
|  Pays | CAD CORRA | 3.88% | 6M/6M | 05/01/2034 | Bank of America<br> Securities, Inc. | 219,499 CAD | (17306) | (773) | (16533) |
|  Receives | GBP SONIA | 4.11% | 1Y/1Y | 04/29/2039 | Bank of America<br> Securities, Inc. | (251230) GBP | (3365) | 855 | (4220) |
|  Pays | USD SOFR | 4.25% | 1Y/1Y | 05/06/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | (8513) | 314 | (8827) |
|  Pays | CAD CORRA | 3.61% | 6M/6M | 05/08/2034 | Bank of America<br> Securities, Inc. | 218,579 CAD | (12597) | (716) | (11881) |
|  Pays | CAD CORRA | 3.67% | 6M/6M | 05/15/2034 | Bank of America<br> Securities, Inc. | 219,804 CAD | (13512) | 365 | (13877) |
|  Pays | EUR-EURIBOR | 2.79% | 1Y/6M | 05/22/2034 | Bank of America<br> Securities, Inc. | 325,800 EUR | (7260) | 198 | (7458) |
|  Receives | AUD BBSW | 4.56% | 6M/6M | 05/23/2039 | Bank of America<br> Securities, Inc. | (133330) AUD | 4246 | (146) | 4392 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | EUR-EURIBOR | 2.79% | 1Y/6M | 05/24/2039 | Bank of America<br> Securities, Inc. | 216,420 EUR | $(1101) | $689 | $(1790) |
|  Receives | AUD BBSW | 4.42% | 6M/6M | 05/25/2054 | Bank of America<br> Securities, Inc. | (198525) AUD | 2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1917) | 4467 |
|  Pays | EUR-EURIBOR | 2.84% | 1Y/6M | 05/30/2039 | Bank of America<br> Securities, Inc. | 216,980 EUR | (2624) | (23) | (2601) |
|  Receives | AUD BBSW | 4.57% | 6M/6M | 05/30/2039 | Bank of America<br> Securities, Inc. | (330725) AUD | 11207 | (4524) | 15731 |
|  Pays | EUR-EURIBOR | 2.84% | 1Y/6M | 05/31/2034 | Bank of America<br> Securities, Inc. | 324,045 EUR | (8865) | 1137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10002) |
|  Pays | EUR-EURIBOR | 2.89% | 1Y/6M | 06/06/2039 | Bank of America<br> Securities, Inc. | 217,010 EUR | (4097) | 594 | (4691) |
|  Receives | GBP SONIA | 4.07% | 1Y/1Y | 06/03/2039 | Bank of America<br> Securities, Inc. | (256010) GBP | (4393) | 2282 | (6675) |
|  Pays | EUR-EURIBOR | 2.78% | 1Y/6M | 06/07/2039 | Bank of America<br> Securities, Inc. | 217,480 EUR | (1052) | (36) | (1016) |
|  Receives | GBP SONIA | 3.89% | 1Y/1Y | 06/08/2054 | Bank of America<br> Securities, Inc. | (127895) GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12849) | 73 | (12922) |
|  Receives | USD SOFR | 3.91% | 1Y/1Y | 06/13/2039 | Bank of America<br> Securities, Inc. | (200000) USD | 1084 | (2893) | 3977 |
|  Receives | USD SOFR | 3.91% | 1Y/1Y | 06/12/2034 | Bank of America<br> Securities, Inc. | (300000) USD | 6269 | (3246) | 9515 |
|  Pays | EUR-EURIBOR | 2.80% | 1Y/6M | 06/19/2034 | Bank of America<br> Securities, Inc. | 322,290 EUR | (7347) | 796 | (8143) |
|  Receives | GBP SONIA | 3.79% | 1Y/1Y | 06/17/2054 | Bank of America<br> Securities, Inc. | (127040) GBP | (15019) | (437) | (14582) |
|  Pays | SEK STIBOR | 2.33% | 1Y/3M | 06/22/2054 | Bank of America<br> Securities, Inc. | 114,988 SEK | 7409 | (302) | 7711 |
|  Pays | EUR-EURIBOR | 2.75% | 1Y/6M | 06/24/2039 | Bank of America<br> Securities, Inc. | 214,110 EUR | (48) | 825 | (873) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | USD SOFR | 3.81% | 1Y/1Y | 06/21/2036 | Morgan Stanley<br> Capital<br> Services LLC | 1,500,000 USD | $(9201) | $— | $(9201) |
|  Pays | SEK STIBOR | 2.33% | 1Y/3M | 06/26/2054 | Bank of America<br> Securities, Inc. | 124,132 SEK | 8101 | 1355 | 6746 |
|  Receives | GBP SONIA | 3.86% | 1Y/1Y | 06/27/2039 | Bank of America<br> Securities, Inc. | (253790) GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10779) | 608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11387) |
|  Receives | USD SOFR | 3.87% | 1Y/1Y | 09/29/2027 | Bank of America<br> Securities, Inc. | (2000000) USD | 20572 | 1 | 20571 |
|  Pays | JPY TONA | 0.71% | 1Y/1Y | 09/29/2027 | Bank of America<br> Securities, Inc. | 3,712,340 JPY | 6218 |  | 6218 |
|  Pays | CAD CORRA | 3.33% | 6M/6M | 07/02/2054 | Bank of America<br> Securities, Inc. | 73,097 CAD | (1892) | (395) | (1497) |
|  Receives | GBP SONIA | 3.95% | 1Y/1Y | 07/01/2039 | Bank of America<br> Securities, Inc. | (252870) GBP | (10366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1315) | (9051) |
|  Receives | USD SOFR | 4.05% | 1Y/1Y | 07/05/2034 | Bank of America<br> Securities, Inc. | (300000) USD | 7279 | 478 | 6801 |
|  Pays | CAD CORRA | 3.36% | 6M/6M | 07/03/2054 | Bank of America<br> Securities, Inc. | 73,148 CAD | (2313) | 1660 | (3973) |
|  Receives | CHF SARON | 1.09% | 1Y/1Y | 07/06/2054 | Bank of America<br> Securities, Inc. | (110632) CHF | 9668 | (536) | 10204 |
|  Pays | CAD CORRA | 3.47% | 6M/6M | 07/06/2054 | Bank of America<br> Securities, Inc. | 73,338 CAD | (3876) | 86 | (3962) |
|  Pays | SEK STIBOR | 2.37% | 1Y/3M | 07/13/2054 | Bank of America<br> Securities, Inc. | 123,188 SEK | 4535 | 711 | 3824 |
|  Pays | CAD CORRA | 3.35% | 6M/6M | 07/10/2054 | Bank of America<br> Securities, Inc. | 73,354 CAD | (2298) | 124 | (2422) |
|  Receives | GBP SONIA | 3.93% | 1Y/1Y | 07/10/2054 | Bank of America<br> Securities, Inc. | (128465) GBP | (13088) | 676 | (13764) |
|  Pays | CAD CORRA | 3.35% | 6M/6M | 07/29/2054 | Bank of America<br> Securities, Inc. | 72,304 CAD | (2210) | (715) | (1495) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | CAD CORRA | 3.13% | 6M/6M | 07/30/2029 | Bank of America<br> Securities, Inc. | (360894) CAD | $8451 | $490 | $7961 |
|  Pays | CAD CORRA | 3.26% | 6M/6M | 07/31/2054 | Bank of America<br> Securities, Inc. | 72,184 CAD | (1019) | (421) | (598) |
|  Receives | CAD CORRA | 3.04% | 6M/6M | 08/01/2029 | Bank of America<br> Securities, Inc. | (362148) CAD | 7157 | 197 | 6960 |
|  Pays | SEK STIBOR | 2.11% | 1Y/3M | 08/10/2054 | Bank of America<br> Securities, Inc. | 114,377 SEK | 11311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589 | 9722 |
|  Pays | CAD CORRA | 3.10% | 6M/6M | 08/10/2054 | Bank of America<br> Securities, Inc. | 72,730 CAD | 1233 | 597 | 636 |
|  Pays | CAD CORRA | 3.13% | 6M/6M | 08/10/2054 | Bank of America<br> Securities, Inc. | 72,815 CAD | 852 | 486 | 366 |
|  Receives | USD SOFR | 3.28% | 1Y/1Y | 12/17/2026 | Bank of America<br> Securities, Inc. | (700000) USD | (589) |  | (589) |
|  Receives | CAD CORRA | 2.98% | 6M/6M | 08/21/2034 | Bank of America<br> Securities, Inc. | (219242) CAD | 1281 | 341 | 940 |
|  Pays | SEK STIBOR | 2.12% | 1Y/3M | 08/20/2054 | Bank of America<br> Securities, Inc. | 114,889 SEK | 10940 | (534) | 11474 |
|  Receives | USD SOFR | 3.44% | 1Y/1Y | 08/21/2034 | Bank of America<br> Securities, Inc. | (300000) USD | (7805) | 684 | (8489) |
|  Receives | USD SOFR | 3.10% | 1Y/1Y | 12/20/2027 | Bank of America<br> Securities, Inc. | (465000) USD | (43) |  | (43) |
|  Receives | CAD CORRA | 2.90% | 6M/6M | 08/23/2034 | Bank of America<br> Securities, Inc. | (220410) CAD | (153) | (458) | 305 |
|  Pays | EUR-EURIBOR | 2.45% | 1Y/6M | 08/27/2029 | Bank of America<br> Securities, Inc. | 666,450 EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15861) | (143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15718) |
|  Pays | EUR-EURIBOR | 2.47% | 1Y/6M | 08/28/2034 | Bank of America<br> Securities, Inc. | 333,225 EUR | (2030) | (115) | (1915) |
|  Receives | CAD CORRA | 2.91% | 6M/6M | 08/28/2034 | Bank of America<br> Securities, Inc. | (222428) CAD | 4 | (162) | 166 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | USD SOFR | 3.36% | 1Y/1Y | 08/28/2034 | Bank of America<br> Securities, Inc. | (300000) USD | $(9807) | $369 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10176) |
|  Pays | GBP SONIA | 3.69% | 1Y/1Y | 08/28/2029 | Bank of America<br> Securities, Inc. | 663,100 GBP | 4251 | 1881 | 2370 |
|  Pays | GBP SONIA | 3.73% | 1Y/1Y | 08/28/2029 | Bank of America<br> Securities, Inc. | 659,275 GBP | 2817 | 397 | 2420 |
|  Pays | EUR-EURIBOR | 2.59% | 1Y/6M | 08/30/2039 | Bank of America<br> Securities, Inc. | 222,270 EUR | 1572 | (689) | 2261 |
|  Receives | USD SOFR | 3.10% | 1Y/1Y | 07/14/2028 | Bank of America<br> Securities, Inc. | (545000) USD | (592) |  | (592) |
|  Receives | USD SOFR | 3.10% | 1Y/1Y | 06/30/2028 | Bank of America<br> Securities, Inc. | (1080000) USD | (1121) |  | (1121) |
|  Receives | AUD BBSW | 4.04% | 6M/6M | 08/30/2034 | Bank of America<br> Securities, Inc. | (203940) AUD | 266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1127) | 1393 |
|  Receives | GBP SONIA | 3.79% | 1Y/1Y | 09/01/2054 | Bank of America<br> Securities, Inc. | (131680) GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16077) | (402) | (15675) |
|  Pays | GBP SONIA | 3.75% | 1Y/1Y | 08/30/2029 | Bank of America<br> Securities, Inc. | 656,650 GBP | 2388 | (937) | 3325 |
|  Pays | JPY TONA | 0.69% | 1Y/1Y | 09/07/2028 | Bank of America<br> Securities, Inc. | 11,671,816 JPY | 54468 |  | 54468 |
|  Pays | SEK STIBOR | 2.23% | 1Y/3M | 09/07/2054 | Bank of America<br> Securities, Inc. | 106,681 SEK | 7299 | (49) | 7348 |
|  Receives | USD SOFR | 3.14% | 1Y/1Y | 09/08/2028 | Bank of America<br> Securities, Inc. | (4700000) USD | (2312) |  | (2312) |
|  Pays | EUR-EURIBOR | 2.57% | 1Y/6M | 09/06/2039 | Bank of America<br> Securities, Inc. | 221,560 EUR | 2131 | (771) | 2902 |
|  Pays | GBP SONIA | 3.64% | 1Y/1Y | 09/05/2029 | Bank of America<br> Securities, Inc. | 658,500 GBP | 5454 | (752) | 6206 |
|  Receives | GBP SONIA | 3.58% | 1Y/1Y | 09/17/2054 | Bank of America<br> Securities, Inc. | (131630) GBP | (20988) | 427 | (21415) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | EUR-EURIBOR | 2.48% | 1Y/6M | 09/20/2039 | Bank of America<br> Securities, Inc. | 222,130 EUR | $5004 | $1131 | $3873 |
|  Receives | GBP SONIA | 3.58% | 1Y/1Y | 09/18/2054 | Bank of America<br> Securities, Inc. | (131895) GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20836) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19544) |
|  Pays | CAD CORRA | 2.88% | 6M/6M | 09/21/2054 | Bank of America<br> Securities, Inc. | 73,430 CAD | 4336 | 218 | 4118 |
|  Receives | CAD CORRA | 2.60% | 6M/6M | 09/19/2029 | Bank of America<br> Securities, Inc. | (367148) CAD | 297 | (183) | 480 |
|  Pays | CAD CORRA | 2.93% | 6M/6M | 09/21/2054 | Bank of America<br> Securities, Inc. | 73,763 CAD | 3757 | 845 | 2912 |
|  Receives | CAD CORRA | 2.82% | 6M/6M | 09/25/2034 | Bank of America<br> Securities, Inc. | (221166) CAD | (1855) | (843) | (1012) |
|  Receives | GBP SONIA | 3.70% | 1Y/1Y | 09/21/2054 | Bank of America<br> Securities, Inc. | (133160) GBP | (18185) | (353) | (17832) |
|  Pays | CAD CORRA | 2.94% | 6M/6M | 09/23/2054 | Bank of America<br> Securities, Inc. | 73,722 CAD | 3500 | 435 | 3065 |
|  Receives | CAD CORRA | 2.63% | 6M/6M | 09/24/2029 | Bank of America<br> Securities, Inc. | (370151) CAD | 757 | 354 | 403 |
|  Pays | CAD CORRA | 2.97% | 6M/6M | 09/24/2054 | Bank of America<br> Securities, Inc. | 74,030 CAD | 3157 | (194) | 3351 |
|  Pays | CAD CORRA | 2.97% | 6M/6M | 09/28/2054 | Bank of America<br> Securities, Inc. | 74,154 CAD | 3066 | 599 | 2467 |
|  Receives | GBP SONIA | 3.73% | 1Y/1Y | 09/25/2054 | Bank of America<br> Securities, Inc. | (133165) GBP | (17430) | (1315) | (16115) |
|  Receives | CAD CORRA | 2.67% | 6M/6M | 09/27/2029 | Bank of America<br> Securities, Inc. | (371168) CAD | 1323 | (165) | 1488 |
|  Pays | CAD CORRA | 3.02% | 6M/6M | 09/28/2054 | Bank of America<br> Securities, Inc. | 74,234 CAD | 2417 | (14) | 2431 |
|  Pays | CAD CORRA | 3.03% | 6M/6M | 10/01/2054 | Bank of America<br> Securities, Inc. | 73,978 CAD | 2347 | (465) | 2812 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | CAD CORRA | 2.97% | 6M/6M | 10/02/2054 | Bank of America<br> Securities, Inc. | 74,118 CAD | $3176 | $(414) | $3590 |
|  Receives | EUR-EURIBOR | 2.43% | 1Y/6M | 10/07/2039 | Bank of America<br> Securities, Inc. | (220580) EUR | (6551) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1021) | (5530) |
|  Pays | CAD CORRA | 3.04% | 6M/6M | 10/05/2054 | Bank of America<br> Securities, Inc. | 73,754 CAD | 2118 | 387 | 1731 |
|  Receives | EUR-EURIBOR | 2.47% | 6M/1Y | 10/10/2039 | Bank of America<br> Securities, Inc. | (219530) EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10784) | (1336) | (9448) |
|  Pays | CAD CORRA | 3.10% | 6M/6M | 10/07/2054 | Bank of America<br> Securities, Inc. | 73,673 CAD | 1311 | 887 | 424 |
|  Receives | EUR-EURIBOR | 2.43% | 1Y/6M | 10/09/2034 | Bank of America<br> Securities, Inc. | (329160) EUR | 507 | (940) | 1447 |
|  Pays | USD SOFR | 3.43% | 1Y/1Y | 10/09/2054 | Bank of America<br> Securities, Inc. | 100,000 USD | 9288 | 733 | 8555 |
|  Pays | SEK STIBOR | 2.27% | 1Y/3M | 10/09/2054 | Bank of America<br> Securities, Inc. | 106,191 SEK | 7075 | 2583 | 4492 |
|  Receives | USD SOFR | 3.49% | 1Y/1Y | 10/04/2034 | Morgan Stanley<br> Capital<br> Services LLC | (2500000) USD | (52870) | (819) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52051) |
|  Pays | CAD CORRA | 3.20% | 6M/6M | 10/09/2054 | Bank of America<br> Securities, Inc. | 73,274 CAD | (59) | 366 | (425) |
|  Pays | USD SOFR | 3.47% | 1Y/1Y | 10/13/2054 | Bank of America<br> Securities, Inc. | 100,000 USD | 8387 | 559 | 7828 |
|  Pays | CAD CORRA | 3.19% | 6M/6M | 10/13/2054 | Bank of America<br> Securities, Inc. | 72,931 CAD | (17) | 307 | (324) |
|  Receives | SEK STIBOR | 2.47% | 1Y/3M | 10/11/2034 | Bank of America<br> Securities, Inc. | (269314) SEK | 3328 | 178 | 3150 |
|  Receives | CAD CORRA | 2.86% | 6M/6M | 10/16/2029 | Bank of America<br> Securities, Inc. | (362726) CAD | 4409 | 875 | 3534 |
|  Pays | USD SOFR | 3.71% | 1Y/1Y | 10/17/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 4676 | (1208) | 5884 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | SEK STIBOR | 2.46% | 1Y/3M | 10/17/2034 | Bank of America<br> Securities, Inc. | (268744) SEK | $2998 | $1720 | $1278 |
|  Receives | EUR-EURIBOR | 2.50% | 1Y/6M | 10/18/2039 | Bank of America<br> Securities, Inc. | (217160) EUR | (4217) | 795 | (5012) |
|  Receives | SEK STIBOR | 2.38% | 1Y/3M | 10/18/2034 | Bank of America<br> Securities, Inc. | (266466) SEK | 924 | 733 | 191 |
|  Pays | USD SOFR | 3.63% | 1Y/1Y | 10/18/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 6413 | (503) | 6916 |
|  Receives | EUR-EURIBOR | 2.47% | 1Y/6M | 10/21/2039 | Bank of America<br> Securities, Inc. | (216560) EUR | (5302) | (222) | (5080) |
|  Pays | USD SOFR | 3.62% | 1Y/1Y | 10/21/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 6734 | 1781 | 4953 |
|  Pays | GBP SONIA | 3.81% | 1Y/1Y | 10/17/2039 | Bank of America<br> Securities, Inc. | 260,270 GBP | 14244 | 350 | 13894 |
|  Receives | EUR-EURIBOR | 2.48% | 6M/1Y | 10/24/2039 | Bank of America<br> Securities, Inc. | (217270) EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10324) | 211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10535) |
|  Pays | USD SOFR | 3.70% | 1Y/1Y | 10/24/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 4872 | (400) | 5272 |
|  Pays | USD SOFR | 3.70% | 1Y/1Y | 10/24/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 4860 | 1205 | 3655 |
|  Receives | SEK STIBOR | 2.21% | 1Y/3M | 10/24/2029 | Bank of America<br> Securities, Inc. | (559472) SEK | 9495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1432) | 10927 |
|  Receives | EUR-EURIBOR | 2.53% | 1Y/6M | 10/24/2039 | Bank of America<br> Securities, Inc. | (215890) EUR | (3380) | (75) | (3305) |
|  Pays | USD SOFR | 3.81% | 1Y/1Y | 10/24/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 2294 | (325) | 2619 |
|  Receives | EUR-EURIBOR | 2.55% | 1Y/6M | 10/25/2039 | Bank of America<br> Securities, Inc. | (215720) EUR | (2859) | 535 | (3394) |
|  Pays | USD SOFR | 3.81% | 1Y/1Y | 10/25/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 2251 | 794 | 1457 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | USD SOFR | 3.84% | 1Y/1Y | 10/28/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | $1513 | $(988) | $2501 |
|  Receives | SEK STIBOR | 2.43% | 1Y/3M | 10/30/2034 | Bank of America<br> Securities, Inc. | (282358) SEK | 2078 | 95 | 1983 |
|  Pays | USD SOFR | 3.80% | 1Y/1Y | 10/31/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 2391 | (560) | 2951 |
|  Receives | EUR-EURIBOR | 2.50% | 1Y/6M | 10/31/2039 | Bank of America<br> Securities, Inc. | (216340) EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4300) | 5 | (4305) |
|  Pays | USD SOFR | 3.82% | 1Y/1Y | 10/31/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 1828 | 147 | 1681 |
|  Receives | EUR-EURIBOR | 2.40% | 1Y/6M | 10/31/2034 | Bank of America<br> Securities, Inc. | (324435) EUR | (463) | (373) | (90) |
|  Receives | GBP SONIA | 3.86% | 1Y/1Y | 10/29/2029 | Bank of America<br> Securities, Inc. | (650300) GBP | 2744 | (791) | 3535 |
|  Receives | EUR-EURIBOR | 2.51% | 1Y/6M | 11/04/2039 | Bank of America<br> Securities, Inc. | (217550) EUR | (4050) | (114) | (3936) |
|  Receives | CAD CORRA | 2.89% | 6M/6M | 11/01/2029 | Bank of America<br> Securities, Inc. | (359105) CAD | 4857 | 274 | 4583 |
|  Pays | GBP SONIA | 4.07% | 1Y/1Y | 10/31/2039 | Bank of America<br> Securities, Inc. | 257,890 GBP | 6076 | 961 | 5115 |
|  Receives | EUR-EURIBOR | 2.46% | 1Y/6M | 11/07/2039 | Bank of America<br> Securities, Inc. | (216700) EUR | (5583) | (555) | (5028) |
|  Receives | GBP SONIA | 4.05% | 1Y/1Y | 11/01/2029 | Bank of America<br> Securities, Inc. | (646025) GBP | 8714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(643) | 9357 |
|  Pays | USD<br> CPURNSA | 2.47% | M/<br>M | 11/05/2026 | Bank of America<br> Securities, Inc. | 6,400,000 USD | 55974 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55974 |
|  Receives | EUR-EURIBOR | 2.50% | 1Y/6M | 11/08/2039 | Bank of America<br> Securities, Inc. | (214720) EUR | (4392) | 769 | (5161) |
|  Pays | GBP SONIA | 4.14% | 1Y/1Y | 11/07/2039 | Bank of America<br> Securities, Inc. | 257,750 GBP | 3833 | 1366 | 2467 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | GBP SONIA | 4.12% | 1Y/1Y | 11/06/2054 | Bank of America<br> Securities, Inc. | 128,875 GBP | $8004 | $1267 | $6737 |
|  Pays | GBP SONIA | 4.07% | 1Y/1Y | 11/09/2054 | Bank of America<br> Securities, Inc. | 129,205 GBP | 9226 | (73) | 9299 |
|  Receives | USD SOFR | 3.75% | 1Y/1Y | 11/16/2054 | Bank of America<br> Securities, Inc. | (100000) USD | (3215) | (714) | (2501) |
|  Receives | EUR-EURIBOR | 2.40% | 1Y/6M | 11/18/2039 | Bank of America<br> Securities, Inc. | (210430) EUR | (7340) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447 | (8787) |
|  Pays | GBP SONIA | 4.07% | 1Y/1Y | 11/21/2039 | Bank of America<br> Securities, Inc. | 253,570 GBP | 6015 | (967) | 6982 |
|  Receives | USD SOFR | 3.77% | 1Y/1Y | 11/23/2054 | Bank of America<br> Securities, Inc. | (100000) USD | (2823) | 868 | (3691) |
|  Receives | GBP SONIA | 3.93% | 1Y/1Y | 11/26/2029 | Bank of America<br> Securities, Inc. | (627925) GBP | 5547 | (4) | 5551 |
|  Receives | EUR-EURIBOR | 2.16% | 6M/1Y | 12/05/2039 | Bank of America<br> Securities, Inc. | (210200) EUR | (19314) | 161 | (19475) |
|  Receives | EUR-EURIBOR | 2.15% | 6M/1Y | 12/06/2039 | Bank of America<br> Securities, Inc. | (210250) EUR | (19648) | (519) | (19129) |
|  Receives | EUR-EURIBOR | 2.15% | 6M/1Y | 12/09/2039 | Bank of America<br> Securities, Inc. | (211680) EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19552) | (160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19392) |
|  Pays | GBP SONIA | 3.93% | 1Y/1Y | 12/07/2054 | Bank of America<br> Securities, Inc. | 127,395 GBP | 12351 | (74) | 12425 |
|  Pays | GBP SONIA | 3.99% | 1Y/1Y | 12/11/2054 | Bank of America<br> Securities, Inc. | 127,475 GBP | 10988 | 191 | 10797 |
|  Receives | EUR-EURIBOR | 2.27% | 1Y/6M | 12/19/2039 | Bank of America<br> Securities, Inc. | (209940) EUR | (11274) | (503) | (10771) |
|  Pays | USD SOFR | 3.89% | 1Y/1Y | 12/19/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | 249 | 360 | (111) |
|  Pays | USD SOFR | 3.94% | 1Y/1Y | 12/19/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | (1079) | (576) | (503) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | GBP SONIA | 4.07% | 1Y/1Y | 12/18/2029 | Bank of America<br> Securities, Inc. | (629125) GBP | $10253 | $(640) | $10893 |
|  Receives | USD SOFR | 3.79% | 1Y/1Y | 08/24/2054 | Bank of America<br> Securities, Inc. | (850000) USD | (27719) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27719) |
|  Receives | USD SOFR | 3.75% | 1Y/1Y | 09/02/2059 | Bank of America<br> Securities, Inc. | (550000) USD | (18023) |  | (18023) |
|  Pays | USD SOFR | 4.09% | 1Y/1Y | 12/27/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | (4620) | (900) | (3720) |
|  Pays | USD SOFR | 4.13% | 1Y/1Y | 12/27/2039 | Bank of America<br> Securities, Inc. | 200,000 USD | (5543) | 712 | (6255) |
|  Pays | USD SOFR | 4.09% | 1Y/1Y | 01/02/2035 | Bank of America<br> Securities, Inc. | 300,000 USD | (9921) | 471 | (10392) |
|  Pays | GBP SONIA | 4.22% | 1Y/1Y | 12/29/2054 | Bank of America<br> Securities, Inc. | 125,800 GBP | 5583 | 952 | 4631 |
|  Receives | SEK STIBOR | 2.81% | 1Y/3M | 01/09/2040 | Bank of America<br> Securities, Inc. | (197315) SEK | 5063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971 | 2092 |
|  Receives | EUR-EURIBOR | 2.44% | 6M/1Y | 01/09/2040 | Bank of America<br> Securities, Inc. | (206140) EUR | (8410) | (67) | (8343) |
|  Pays | USD SOFR | 4.09% | 1Y/1Y | 01/08/2035 | Bank of America<br> Securities, Inc. | 300,000 USD | (9937) | (243) | (9694) |
|  Receives | EUR-EURIBOR | 2.49% | 6M/1Y | 01/09/2040 | Bank of America<br> Securities, Inc. | (206890) EUR | (7023) | (984) | (6039) |
|  Receives | EUR-EURIBOR | 2.53% | 6M/1Y | 01/10/2040 | Bank of America<br> Securities, Inc. | (206330) EUR | (5702) | (442) | (5260) |
|  Receives | USD SOFR | 4.00% | 1Y/1Y | 08/24/2054 | Bank of America<br> Securities, Inc. | (975000) USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12539) |  | (12539) |
|  Receives | USD SOFR | 3.94% | 1Y/1Y | 09/02/2059 | Bank of America<br> Securities, Inc. | (650000) USD | (2935) |  | (2935) |
|  Receives | EUR-EURIBOR | 2.60% | 1Y/6M | 01/16/2040 | Bank of America<br> Securities, Inc. | (204340) EUR | (4789) | (325) | (4464) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | CAD CORRA | 3.22% | 6M/6M | 01/14/2055 | Bank of America<br> Securities, Inc. | 69,452 CAD | $(440) | $523 | $(963) |
|  Pays | USD SOFR | 4.30% | 1Y/1Y | 01/16/2035 | Bank of America<br> Securities, Inc. | 300,000 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15232) | 141 | (15373) |
|  Receives | SEK STIBOR | 2.88% | 3M/1Y | 01/17/2040 | Bank of America<br> Securities, Inc. | (197354) SEK | 5693 | 868 | 4825 |
|  Receives | CAD CORRA | 2.93% | 6M/6M | 01/17/2030 | Bank of America<br> Securities, Inc. | (347270) CAD | 5480 | (193) | 5673 |
|  Pays | GBP SONIA | 4.35% | 1Y/1Y | 01/18/2055 | Bank of America<br> Securities, Inc. | 122,310 GBP | 2487 | 341 | 2146 |
|  Receives | SEK STIBOR | 2.70% | 3M/1Y | 01/24/2040 | Bank of America<br> Securities, Inc. | (199924) SEK | 614 | 729 | (115) |
|  Pays | USD SOFR | 4.17% | 1Y/1Y | 01/24/2040 | Bank of America<br> Securities, Inc. | 200,000 USD | (6480) | (353) | (6127) |
|  Receives | JPY TONA | 1.83% | 1Y/1Y | 02/03/2055 | Bank of America<br> Securities, Inc. | (95303) JPY | (7741) | 290 | (8031) |
|  Receives | CAD CORRA | 2.59% | 6M/6M | 02/04/2030 | Bank of America<br> Securities, Inc. | (344033) CAD | (287) | 155 | (442) |
|  Pays | USD SOFR | 4.02% | 1Y/1Y | 02/04/2030 | Bank of America<br> Securities, Inc. | 300,000 USD | (7258) | (68) | (7190) |
|  Receives | CHF SARON | 0.29% | 1Y/1Y | 02/04/2030 | Bank of America<br> Securities, Inc. | (878397) CHF | 8495 | 1857 | 6638 |
|  Pays | USD SOFR | 4.03% | 1Y/1Y | 02/05/2030 | Bank of America<br> Securities, Inc. | 500,000 USD | (12408) | (219) | (12189) |
|  Pays | USD SOFR | 4.07% | 1Y/1Y | 02/06/2030 | Bank of America<br> Securities, Inc. | 500,000 USD | (13174) | (570) | (12604) |
|  Receives | CAD CORRA | 2.53% | 6M/6M | 02/05/2030 | Bank of America<br> Securities, Inc. | (349223) CAD | (1430) | 598 | (2028) |
|  Pays | USD SOFR | 4.02% | 1Y/1Y | 02/07/2030 | Bank of America<br> Securities, Inc. | 500,000 USD | (12141) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1836) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10305) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | CAD CORRA | 2.49% | 6M/6M | 02/06/2030 | Bank of America<br> Securities, Inc. | (349333) CAD | $(2146) | $658 | $(2804) |
|  Receives | CAD CORRA | 2.45% | 6M/6M | 02/07/2030 | Bank of America<br> Securities, Inc. | (349553) CAD | (2811) | (847) | (1964) |
|  Receives | CAD CORRA | 2.59% | 6M/6M | 02/11/2030 | Bank of America<br> Securities, Inc. | (349406) CAD | (396) | 1029 | (1425) |
|  Pays | USD SOFR | 4.28% | 1Y/1Y | 02/21/2040 | Bank of America<br> Securities, Inc. | 200,000 USD | (9106) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1039) | (8067) |
|  Receives | EUR-EURIBOR | 1.51% | 6M/1Y | 02/18/2075 | Bank of America<br> Securities, Inc. | (524600) EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37088) | 1529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38617) |
|  Pays | EUR-EURIBOR | 2.13% | 1Y/6M | 02/19/2055 | Bank of America<br> Securities, Inc. | 314,760 EUR | 31572 | 113 | 31459 |
|  Receives | CAD CORRA | 2.65% | 6M/6M | 02/19/2030 | Bank of America<br> Securities, Inc. | (352846) CAD | 667 | 225 | 442 |
|  Receives | GBP SONIA | 3.25% | 1Y/1Y | 02/15/2075 | Bank of America<br> Securities, Inc. | (906300) GBP | (7954) | (182) | (7772) |
|  Pays | GBP SONIA | 4.45% | 1Y/1Y | 02/15/2055 | Bank of America<br> Securities, Inc. | 352,450 GBP | 15131 | (388) | 15519 |
|  Receives | EUR-EURIBOR | 1.55% | 6M/1Y | 02/22/2075 | Bank of America<br> Securities, Inc. | (312750) EUR | (21172) | 578 | (21750) |
|  Pays | EUR-EURIBOR | 2.22% | 1Y/6M | 02/22/2055 | Bank of America<br> Securities, Inc. | 104,250 EUR | 9239 | 4 | 9235 |
|  Pays | GBP SONIA | 4.50% | 1Y/1Y | 02/19/2055 | Bank of America<br> Securities, Inc. | 402,784 GBP | 15173 | 152 | 15021 |
|  Receives | GBP SONIA | 3.31% | 1Y/1Y | 02/19/2075 | Bank of America<br> Securities, Inc. | (956612) GBP | (6015) | 388 | (6403) |
|  Receives | GBP SONIA | 3.33% | 1Y/1Y | 02/22/2075 | Bank of America<br> Securities, Inc. | (886935) GBP | (4675) | 739 | (5414) |
|  Pays | GBP SONIA | 4.54% | 1Y/1Y | 02/22/2055 | Bank of America<br> Securities, Inc. | 380,115 GBP | 12923 | (284) | 13207 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | CHF SARON | 0.58% | 1Y/1Y | 02/26/2035 | Bank of America<br> Securities, Inc. | 222,779 CHF | $(2282) | $1819 | $(4101) |
|  Receives | USD SOFR | 4.11% | 1Y/1Y | 02/26/2035 | Bank of America<br> Securities, Inc. | (300000) USD | 10422 | 329 | 10093 |
|  Pays | GBP SONIA | 4.47% | 1Y/1Y | 02/26/2055 | Bank of America<br> Securities, Inc. | 380,145 GBP | 15281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1939) | 17220 |
|  Receives | GBP SONIA | 3.28% | 1Y/1Y | 02/25/2075 | Bank of America<br> Securities, Inc. | (1013720) GBP | (7475) | 1895 | (9370) |
|  Pays | EUR-EURIBOR | 2.16% | 1Y/6M | 03/01/2055 | Bank of America<br> Securities, Inc. | 209,750 EUR | 20212 | (319) | 20531 |
|  Receives | EUR-EURIBOR | 1.50% | 6M/1Y | 02/26/2075 | Bank of America<br> Securities, Inc. | (209750) EUR | (14999) | 383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15382) |
|  Pays | CHF SARON | 0.58% | 1Y/1Y | 02/28/2035 | Bank of America<br> Securities, Inc. | 223,676 CHF | (2096) | (765) | (1331) |
|  Receives | USD SOFR | 3.89% | 1Y/1Y | 02/28/2035 | Bank of America<br> Securities, Inc. | (300000) USD | 4708 | 224 | 4484 |
|  Pays | GBP SONIA | 4.40% | 1Y/1Y | 02/26/2055 | Bank of America<br> Securities, Inc. | 760,470 GBP | 35618 | 1538 | 34080 |
|  Receives | GBP SONIA | 3.23% | 1Y/1Y | 02/26/2075 | Bank of America<br> Securities, Inc. | (1774430) GBP | (16864) | (190) | (16674) |
|  Pays | GBP SONIA | 4.22% | 1Y/1Y | 02/26/2055 | Bank of America<br> Securities, Inc. | 126,745 GBP | 5385 | (457) | 5842 |
|  Receives | EUR-EURIBOR | 1.49% | 6M/1Y | 03/04/2075 | Bank of America<br> Securities, Inc. | (520275) EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37729) | 486 | (38215) |
|  Pays | EUR-EURIBOR | 2.43% | 1Y/6M | 03/05/2040 | Bank of America<br> Securities, Inc. | 208,110 EUR | 9686 | 696 | 8990 |
|  Pays | EUR-EURIBOR | 2.16% | 1Y/6M | 03/05/2055 | Bank of America<br> Securities, Inc. | 312,165 EUR | 30006 | 33 | 29973 |
|  Receives | CAD CORRA | 2.53% | 6M/6M | 02/28/2030 | Bank of America<br> Securities, Inc. | (346248) CAD | (1362) | 236 | (1598) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | USD SOFR | 3.80% | 1Y/1Y | 03/04/2030 | Bank of America<br> Securities, Inc. | (500000) USD | $7261 | $(656) | $7917 |
|  Receives | USD SOFR | 3.84% | 1Y/1Y | 03/05/2035 | Bank of America<br> Securities, Inc. | (300000) USD | 3604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(947) | 4551 |
|  Receives | USD SOFR | 3.90% | 1Y/1Y | 03/05/2040 | Bank of America<br> Securities, Inc. | (200000) USD | 270 | (954) | 1224 |
|  Pays | GBP SONIA | 4.15% | 1Y/1Y | 02/27/2040 | Bank of America<br> Securities, Inc. | 252,230 GBP | 3376 | 607 | 2769 |
|  Pays | GBP SONIA | 4.44% | 1Y/1Y | 03/01/2055 | Bank of America<br> Securities, Inc. | 378,345 GBP | 16322 | 386 | 15936 |
|  Receives | GBP SONIA | 3.25% | 1Y/1Y | 02/26/2075 | Bank of America<br> Securities, Inc. | (1008920) GBP | (8731) | 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8744) |
|  Pays | EUR-EURIBOR | 2.43% | 1Y/6M | 03/05/2040 | Bank of America<br> Securities, Inc. | 209,630 EUR | 9854 | 2113 | 7741 |
|  Pays | CHF SARON | 0.49% | 1Y/1Y | 03/05/2035 | Bank of America<br> Securities, Inc. | 223,077 CHF | 157 | 1855 | (1698) |
|  Receives | USD SOFR | 3.86% | 1Y/1Y | 03/05/2040 | Bank of America<br> Securities, Inc. | (200000) USD | (767) | (839) | 72 |
|  Receives | EUR-EURIBOR | 1.62% | 6M/1Y | 03/08/2075 | Bank of America<br> Securities, Inc. | (212200) EUR | (12981) | (97) | (12884) |
|  Pays | EUR-EURIBOR | 2.28% | 1Y/6M | 03/08/2055 | Bank of America<br> Securities, Inc. | 106,100 EUR | 8329 | 50 | 8279 |
|  Pays | EUR-EURIBOR | 2.31% | 1Y/6M | 03/08/2055 | Bank of America<br> Securities, Inc. | 106,100 EUR | 10913 | 138 | 10775 |
|  Receives | CAD CORRA | 2.36% | 6M/6M | 03/05/2030 | Bank of America<br> Securities, Inc. | (345471) CAD | (4279) | 334 | (4613) |
|  Receives | USD SOFR | 3.68% | 1Y/1Y | 03/06/2030 | Bank of America<br> Securities, Inc. | (500000) USD | 4569 | 985 | 3584 |
|  Receives | USD SOFR | 3.81% | 1Y/1Y | 03/06/2040 | Bank of America<br> Securities, Inc. | (200000) USD | (1838) | 489 | (2327) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/ Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | GBP SONIA | 4.42% | 1Y/1Y | 03/05/2055 | Bank of America<br> Securities, Inc. | 383,520 GBP | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16990 | $(742) | $17732 |
|  Receives | GBP SONIA | 3.24% | 1Y/1Y | 03/04/2075 | Bank of America<br> Securities, Inc. | (894880) GBP | (7898) | 928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8826) |
|  Pays | EUR-EURIBOR | 2.35% | 1Y/6M | 03/08/2055 | Bank of America<br> Securities, Inc. | 107,920 EUR | 9939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2706 | 7233 |
|  Pays | CHF SARON | 0.53% | 1Y/1Y | 03/07/2035 | Bank of America<br> Securities, Inc. | 224,555 CHF | (879) | 1388 | (2267) |
|  Receives | USD SOFR | 3.89% | 1Y/1Y | 03/07/2040 | Bank of America<br> Securities, Inc. | (200000) USD | (72) | 954 | (1026) |
|  Pays | EUR-EURIBOR | 2.72% | 1Y/6M | 03/12/2040 | Bank of America<br> Securities, Inc. | 215,740 EUR | 1257 | 2372 | (1115) |
|  Receives | USD SOFR | 3.79% | 1Y/1Y | 03/11/2030 | Bank of America<br> Securities, Inc. | (500000) USD | 7194 | (467) | 7661 |
|  Pays | GBP SONIA | 4.29% | 1Y/1Y | 03/06/2040 | Bank of America<br> Securities, Inc. | 257,570 GBP | (949) | 790 | (1739) |
|  Receives | USD SOFR | 3.93% | 1Y/1Y | 03/12/2040 | Bank of America<br> Securities, Inc. | (200000) USD | 846 | (955) | 1801 |
|  Pays | EUR-EURIBOR | 2.74% | 1Y/6M | 03/12/2040 | Bank of America<br> Securities, Inc. | 216,950 EUR | 735 | 1200 | (465) |
|  Pays | EUR-EURIBOR | 2.53% | 1Y/6M | 03/11/2055 | Bank of America<br> Securities, Inc. | 108,475 EUR | 5493 | 1428 | 4065 |
|  Pays | GBP SONIA | 4.33% | 1Y/1Y | 03/08/2055 | Bank of America<br> Securities, Inc. | 129,260 GBP | 2987 | (406) | 3393 |
|  Pays | CHF SARON | 0.84% | 1Y/1Y | 03/15/2055 | Bank of America<br> Securities, Inc. | 113,359 CHF | (1073) | 2432 | (3505) |
|  Receives | EUR-EURIBOR | 1.89% | 6M/1Y | 03/18/2075 | Bank of America<br> Securities, Inc. | (3796975) EUR | (146534) | 7020 | (153554) |
|  Pays | EUR-EURIBOR | 2.61% | 1Y/6M | 03/19/2055 | Bank of America<br> Securities, Inc. | 2,061,215 EUR | 72774 | (2239) | 75013 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | GBP SONIA | 4.67% | 1Y/1Y | 03/15/2055 | Bank of America<br> Securities, Inc. | 258,860 GBP | $5383 | $227 | $5156 |
|  Receives | GBP SONIA | 3.41% | 1Y/1Y | 03/15/2075 | Bank of America<br> Securities, Inc. | (776580) GBP | (1478) | 180 | (1658) |
|  Receives | GBP SONIA | 4.00% | 1Y/1Y | 03/14/2030 | Bank of America<br> Securities, Inc. | (646750) GBP | 9333 | (375) | 9708 |
|  Receives | CHF SARON | 0.79% | 1Y/1Y | 03/20/2035 | Bank of America<br> Securities, Inc. | (228180) CHF | 7366 | (386) | 7752 |
|  Pays | USD SOFR | 3.97% | 1Y/1Y | 03/20/2040 | Bank of America<br> Securities, Inc. | 200,000 USD | (1877) | 418 | (2295) |
|  Receives | GBP SONIA | 3.99% | 1Y/1Y | 03/19/2030 | Bank of America<br> Securities, Inc. | (649900) GBP | 9126 | (104) | 9230 |
|  Pays | USD SOFR | 3.79% | 1Y/1Y | 03/21/2030 | Bank of America<br> Securities, Inc. | 500,000 USD | (7233) | 824 | (8057) |
|  Receives | SEK STIBOR | 3.07% | 1Y/3M | 03/26/2040 | Bank of America<br> Securities, Inc. | (187639) SEK | 10716 | 1062 | 9654 |
|  Receives | EUR ESTR | 2.07% | 1Y/1Y | 03/25/2026 | Bank of America<br> Securities, Inc. | (20012375) EUR | 34709 |  | 34709 |
|  Receives | CHF SARON | 0.78% | 1Y/1Y | 03/27/2035 | Bank of America<br> Securities, Inc. | (226655) CHF | 6995 | (284) | 7279 |
|  Receives | EUR-EURIBOR | 2.63% | 6M/1Y | 03/31/2055 | Bank of America<br> Securities, Inc. | (107945) EUR | (2127) | (550) | (1577) |
|  Receives | SEK STIBOR | 3.07% | 1Y/3M | 04/03/2040 | Bank of America<br> Securities, Inc. | (189955) SEK | 9702 | 976 | 8726 |
|  Receives | CHF SARON | 0.70% | 1Y/1Y | 04/02/2035 | Bank of America<br> Securities, Inc. | (226873) CHF | 5135 | 889 | 4246 |
|  Pays | USD SOFR | 4.02% | 1Y/1Y | 04/02/2040 | Bank of America<br> Securities, Inc. | 200,000 USD | (2889) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1089) | (1800) |
|  Pays | USD<br> CPURNSA | 2.62% | M/M | 04/02/2030 | Bank of America<br> Securities, Inc. | 20,000,000 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159556) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(159556) |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | EUR-EURIBOR | 2.78% | 1Y/6M | 04/03/2040 | Bank of America<br> Securities, Inc. | 215,790 EUR | $(353) | $(2089) | $1736 |
|  Receives | USD SOFR | 3.65% | 1Y/1Y | 04/03/2030 | Bank of America<br> Securities, Inc. | (500000) USD | 4048 | 505 | 3543 |
|  Receives | GBP SONIA | 3.99% | 1Y/1Y | 04/02/2030 | Bank of America<br> Securities, Inc. | (649050) GBP | 9055 | (171) | 9226 |
|  Pays | EUR-EURIBOR | 2.59% | 1Y/6M | 04/07/2055 | Bank of America<br> Securities, Inc. | 110,245 EUR | 3891 | (789) | 4680 |
|  Receives | EUR-EURIBOR | 2.29% | 6M/1Y | 04/08/2030 | Bank of America<br> Securities, Inc. | (547225) EUR | 1801 | 2111 | (310) |
|  Receives | SEK STIBOR | 2.58% | 3M/1Y | 04/08/2030 | Bank of America<br> Securities, Inc. | (477971) SEK | 11173 | 3894 | 7279 |
|  Pays | EUR-EURIBOR | 2.68% | 1Y/6M | 04/09/2040 | Bank of America<br> Securities, Inc. | 218,890 EUR | 2527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2629) | 5156 |
|  Receives | EUR-EURIBOR | 2.56% | 1Y/6M | 04/09/2035 | Bank of America<br> Securities, Inc. | (328335) EUR | (826) | 2574 | (3400) |
|  Pays | EUR-EURIBOR | 2.54% | 1Y/6M | 04/08/2055 | Bank of America<br> Securities, Inc. | 109,445 EUR | 5060 | (2905) | 7965 |
|  Pays | CAD CORRA | 2.89% | 6M/6M | 04/07/2055 | Bank of America<br> Securities, Inc. | 70,272 CAD | 4167 | (1372) | 5539 |
|  Receives | USD SOFR | 3.59% | 1Y/1Y | 04/07/2035 | Morgan Stanley<br> Capital<br> Services LLC | (3500000) USD | (33842) | (1216) | (32626) |
|  Pays | USD SOFR | 3.73% | 1Y/1Y | 04/07/2040 | Morgan Stanley<br> Capital<br> Services LLC | 3,500,000 USD | 67969 | (115) | 68084 |
|  Pays | CAD CORRA | 2.83% | 6M/6M | 04/08/2055 | Bank of America<br> Securities, Inc. | 70,200 CAD | 5009 | 1271 | 3738 |
|  Receives | JPY TONA | 1.68% | 1Y/1Y | 04/09/2055 | Bank of America<br> Securities, Inc. | (89877) JPY | (10539) | 3247 | (13786) |
|  Receives | EUR-EURIBOR | 2.60% | 6M/1Y | 04/10/2035 | Bank of America<br> Securities, Inc. | (328710) EUR | 1787 | 591 | 1196 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | GBP SONIA | 3.86% | 1Y/1Y | 04/08/2030 | Bank of America<br> Securities, Inc. | (638800) GBP | $5295 | $1197 | $4098 |
|  Pays | USD SOFR | 3.78% | 1Y/1Y | 04/10/2040 | Bank of America<br> Securities, Inc. | 200,000 USD | 2450 | 594 | 1856 |
|  Pays | CAD CORRA | 2.99% | 6M/6M | 04/09/2055 | Bank of America<br> Securities, Inc. | 70,188 CAD | 2731 | (38) | 2769 |
|  Pays | USD SOFR | 3.73% | 1Y/1Y | 04/12/2055 | Bank of America<br> Securities, Inc. | 100,000 USD | 3334 | 449 | 2885 |
|  Receives | EUR-EURIBOR | 2.57% | 6M/1Y | 04/11/2035 | Bank of America<br> Securities, Inc. | (328110) EUR | 509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1135) | 1644 |
|  Pays | EUR-EURIBOR | 2.53% | 1Y/6M | 04/12/2055 | Bank of America<br> Securities, Inc. | 109,370 EUR | 5481 | 1218 | 4263 |
|  Receives | EUR ESTR | 1.79% | 1Y/1Y | 04/13/2026 | Bank of America<br> Securities, Inc. | (37185800) EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33137) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33137) |
|  Receives | USD SOFR | 3.65% | 1Y/1Y | 04/12/2027 | Bank of America<br> Securities, Inc. | (19400000) USD | 4762 |  | 4762 |
|  Pays | USD SOFR | 3.80% | 1Y/1Y | 04/12/2055 | Bank of America<br> Securities, Inc. | 100,000 USD | 2073 | 2372 | (299) |
|  Pays | EUR-EURIBOR | 2.51% | 1Y/6M | 04/14/2055 | Bank of America<br> Securities, Inc. | 111,985 EUR | 5762 | 523 | 5239 |
|  Receives | EUR ESTR | 1.79% | 1Y/1Y | 04/14/2027 | Bank of America<br> Securities, Inc. | (12654305) EUR | (3450) |  | (3450) |
|  Receives | CHF SARON | 0.55% | 1Y/1Y | 04/16/2035 | Bank of America<br> Securities, Inc. | (242498) CHF | 1124 | (20) | 1144 |
|  Receives | CHF SARON | 0.72% | 1Y/1Y | 04/16/2040 | Bank of America<br> Securities, Inc. | (121249) CHF | (74) | 192 | (266) |
|  Pays | USD SOFR | 3.83% | 1Y/1Y | 04/10/2035 | Morgan Stanley<br> Capital<br> Services LLC | 2,600,000 USD | (26449) | 539 | (26988) |
|  Receives | EUR-EURIBOR | 2.55% | 6M/1Y | 04/16/2035 | Bank of America<br> Securities, Inc. | (340230) EUR | (71) | (1183) | 1112 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Pays | EUR-EURIBOR | 2.49% | 1Y/6M | 04/15/2055 | Bank of America<br> Securities, Inc. | 113,410 EUR | $6486 | $793 | $5693 |
|  Receives | EUR-EURIBOR | 2.57% | 6M/1Y | 04/16/2035 | Bank of America<br> Securities, Inc. | (340500) EUR | 449 | 2213 | (1764) |
|  Pays | EUR-EURIBOR | 2.44% | 1Y/6M | 04/20/2055 | Bank of America<br> Securities, Inc. | 113,500 EUR | 7675 | (458) | 8133 |
|  Pays | GBP SONIA | 3.86% | 1Y/1Y | 04/15/2030 | Bank of America<br> Securities, Inc. | 659,375 GBP | (5457) | (855) | (4602) |
|  Pays | EUR-EURIBOR | 2.42% | 1Y/6M | 04/20/2055 | Bank of America<br> Securities, Inc. | 112,835 EUR | 8091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404 | 6687 |
|  Receives | USD SOFR | 4.01% | 1Y/1Y | 04/17/2040 | Bank of America<br> Securities, Inc. | (200000) USD | 2682 | (50) | 2732 |
|  Pays | USD CPURNSA | 2.82% | M/M | 04/25/2027 | Bank of America<br> Securities, Inc. | 11,000,000 USD | (46334) |  | (46334) |
|  Pays | USD CPURNSA | 2.46% | M/M | 04/25/2030 | Bank of America<br> Securities, Inc. | 5,000,000 USD | (2583) |  | (2583) |
|  Pays | USD CPURNSA | 2.46% | M/M | 04/25/2030 | Bank of America<br> Securities, Inc. | 8,000,000 USD | (4695) |  | (4695) |
|  Pays | USD CPURNSA | 2.86% | M/M | 04/28/2027 | Bank of America<br> Securities, Inc. | 3,000,000 USD | (14960) |  | (14960) |
|  Pays | USD CPURNSA | 2.49% | M/M | 04/29/2030 | Bank of America<br> Securities, Inc. | 4,000,000 USD | (102414) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(102414) |
|  Pays | USD CPURNSA | 2.50% | M/M | 04/29/2030 | Bank of America<br> Securities, Inc. | 4,000,000 USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105522) |  | (105522) |
|  Receives | EUR ESTR | 1.83% | 1Y/1Y | 04/14/2026 | Bank of America<br> Securities, Inc. | (16416900) EUR | (336) |  | (336) |
|  Receives | USD SOFR | 3.47% | 1Y/1Y | 05/22/2028 | Bank of America<br> Securities, Inc. | (7650000) USD | 44346 |  | 44346 |
|  Receives | USD SOFR | 4.33% | 1Y/1Y | 08/24/2054 | Bank of America<br> Securities, Inc. | (1300000) USD | 24911 |  | 24911 |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Fund<br>Pays/Receives<br>Floating Rate** | **Floating<br>Rate<br>Index** | **Fixed<br>Rate** | **Pay/<br>Receive<br>Payment<br>Frequency** | **Maturity<br>Date** | **Counterparty** | **Notional<br>Amount** | **Market<br>Value** | **Upfront<br>Premium<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Receives | USD SOFR | 4.19% | 1Y/1Y | 09/02/2059 | Bank of America<br> Securities, Inc. | (400000) USD | $13332 | $— | $13332 |
|  Pays | USD CPURNSA | 2.85% | M/M | 06/05/2027 | Bank of America<br> Securities, Inc. | 10,000,000 USD | (22151) |  | (22151) |
|  Pays | USD CPURNSA | 2.54% | M/M | 06/05/2030 | Bank of America<br> Securities, Inc. | 10,000,000 USD | (20270) |  | (20270) |
|  Receives | NZD BKBM | 3.67% | 3M/6M | 09/18/2030 | Bank of America<br> Securities, Inc. | (15071250) NZD | 63701 |  | 63701 |
|  Receives | ZAR JIBAR | 7.54% | 3M/3M | 09/18/2030 | Bank of America<br> Securities, Inc. | (46605221) ZAR | 332840 | (30038) | 362878 |
|  Receives | NZD BKBM | 3.69% | 3M/6M | 09/18/2030 | Bank of America<br> Securities, Inc. | (36962950) NZD | 194528 |  | 194528 |
|  Receives | USD SOFR | 3.60% | 1Y/1Y | 09/17/2027 | Bank of America<br> Securities, Inc. | (336000000) USD | 1563816 | 17570 | 1546246 |
|  Total Centrally Cleared Interest Rate Swaps Outstanding | Total Centrally Cleared Interest Rate Swaps Outstanding | Total Centrally Cleared Interest Rate Swaps Outstanding | Total Centrally Cleared Interest Rate Swaps Outstanding | Total Centrally Cleared Interest Rate Swaps Outstanding | Total Centrally Cleared Interest Rate Swaps Outstanding | Total Centrally Cleared Interest Rate Swaps Outstanding | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4476610 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24286 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4452324 |

---

---

| | |
|:---|:---|
| **Abbreviation Legend:** | **Abbreviation Legend:** |
| 1Y | Yearly |
| 3M | Quarterly |
| 6M | Semi-Annually |
| ADR | American Depository Receipt |
| ASX | Australian Securities Exchange |
| BBSW | Bank Bill Swap Rate |
| CBOE | Chicago Board Options Exchange |
| CBOT | Chicago Board of Trade |
| CME | Chicago Mercantile Exchange |
| COMEX | Commodities Exchange Center |
| CORRA | Canadian Overnight Repo Rate Average |
| CPURNSA | US CPI Urban Consumers NSA |
| ETF | Exchange-Traded Fund |
| Eurex | Eurex Exchange |
| EURIBOR | Euro Interbank Offered Rate |
| FTSE | Financial Times and Stock Exchange |
| FX | Foreign Exchange |
| ICE | Ice Futures Europe |
| LIBOR | London Interbank Offered Rate |
| LIFFE | London International Financial Futures and Options Exchange |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Consolidated Schedule of Investments ^ (Continued)** 

**June 30, 2025 (Unaudited)** 

---

| | |
|:---|:---|
| LME | London Metal Exchange |
| M | Monthly |
| NYMEX | New York Mercantile Exchange |
| OSE | Osaka Exchange |
| OTC | Over the Counter |
| PIK | Payment in Kind |
| REIT | Real Estate Investment Trust |
| S&P | S&P 500 Index |
| SARON | Swiss Average Rate Overnight |
| SFE | ASX Trade24 |
| SGX | Singapore Exchange |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Index Average |
| SPDR | Standard and Poor's Depository Receipt |
| STIBOR | Stockholm Interbank Offered Rate |
| TBA | To Be Announced |
| TONA | Tokyo Overnight Average |
| **Currency Legend:** | **Currency Legend:** |
| AUD | Australia Dollar |
| BRL | Brazil Real |
| CAD | Canada Dollar |
| CHF | Switzerland Franc |
| CLP | Chile Peso |
| CNH | Chinese Renminbi |
| COP | Colombia Peso |
| CZK | Czech Republic Koruna |
| EUR | Euro Member Countries |
| GBP | United Kingdom Pound |
| HKD | Hong Kong Dollar |
| HUF | Hungary Forint |
| IDR | Indonesian Rupiah |
| ILS | Israel Shekel |
| INR | Indian Rupee |
| JPY | Japan Yen |
| KRW | Korean Won |
| MXN | Mexico Peso |
| NOK | Norway Krone |
| NZD | New Zealand Dollar |
| PEN | Peru Nuevo Sol |
| PHP | Philippines Peso |
| PLN | Poland Zloty |
| SEK | Sweden Krona |
| SGD | Singapore Dollar |
| THB | Thailand Baht |
| TRY | Turkish Lira |
| TWD | Taiwan New Dollar |
| USD | United States Dollar |
| ZAR | South African Rand |

---

See Notes to Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments** 

**For the Period Ended June 30, 2025 (Unaudited)** 

**1. Organization** 

Blackstone Alternative Investment Funds (the "Trust") is a Massachusetts business trust authorized to issue an unlimited number of shares of beneficial interest, which may be divided into different series and classes. The Trust is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). During the period ended June 30, 2025, the Trust consisted of a single series, Blackstone Alternative Multi-Strategy Fund (the "Fund"). The Fund commenced operations offering Class I Shares on June 16, 2014. The Fund also offers Class D Shares, Class Y Shares and Class R Shares. Class D Shares and Class Y Shares commenced operations on November 17, 2014 and January 28, 2015, respectively. As of June 30, 2025, the Fund had not issued any Class R Shares. The Fund operates as a diversified open-end investment company as defined in the 1940 Act.

The investment adviser of the Fund is Blackstone Alternative Investment Advisors LLC ("BAIA" or the "Investment Adviser"), a registered investment adviser under the Investment Advisers Act of 1940, as amended. The Board of Trustees (the "Board" and each member a "Trustee") of the Trust supervises the conduct of the Fund's affairs and has engaged BAIA to manage the Fund's day-to-day investment activities pursuant to an investment management agreement. The Fund's investment objective is to seek capital appreciation. In pursuing the Fund's investment objective, the Investment Adviser seeks to maintain an investment portfolio with, on average, lower volatility relative to the broader equity markets. The Investment Adviser seeks to achieve the Fund's objective principally by allocating the Fund's assets among a variety of non-traditional or alternative investment strategies. The Investment Adviser allocates the Fund's assets among sub-advisers with experience managing non-traditional or alternative investment strategies (the "Sub-Advisers") and among investment funds generally employing alternative investment strategies. The Investment Adviser also manages a portion of the Fund's assets directly and, from time to time, may instruct Sub-Advisers with respect to particular investments. The Investment Adviser may retain discretionary and non-discretionary Sub-Advisers for the Fund. Each discretionary Sub-Adviser is responsible for the day-to-day management of the portion of the Fund's assets that the Investment Adviser allocates to it. Each non-discretionary Sub-Adviser implements its investment strategy in coordination with the Investment Adviser in the Investment Adviser's discretion. The Investment Adviser has the responsibility to oversee each Sub-Adviser (subject to the ultimate oversight of the Fund's Board). The Investment Adviser also is responsible for recommending the hiring, termination, and replacement of Sub-Advisers.

The Fund's assets may be invested in one or more of its three wholly-owned and controlled subsidiaries of the Fund (collectively, the "Subsidiaries"), each of which has the same investment objective as the Fund. One of the Fund's Subsidiaries, Blackstone Alternative Multi-Strategy Sub Fund II Ltd. (the "Cayman Subsidiary"), is a Cayman Islands exempted company. Both of the other Subsidiaries, Blackstone Alternative Multi-Strategy Sub Fund III L.L.C. (the "Domestic Subsidiary III") and Blackstone Alternative Multi-Strategy Sub Fund IV L.L.C. (the "Domestic Subsidiary IV"), are Delaware limited liability companies. The Cayman Subsidiary invests, directly or indirectly through the use of derivatives, in securities, commodities, and other assets. The Domestic Subsidiary III and the Domestic Subsidiary IV invest, directly or indirectly through the use of derivatives, almost entirely in securities. The Consolidated Schedule of Investments includes the Schedule of Investments of the Fund and the three Subsidiaries. Except where context otherwise requires, the term "Fund" refers to the Fund together with the applicable Subsidiaries.

The Fund and the Cayman Subsidiary are each a commodity pool under the Commodity Exchange Act ("CEA") and are subject to regulation by the Commodity Futures Trading Commission ("CFTC"). BAIA, the commodity pool operator of the Fund and the Cayman Subsidiary, is registered as such with the CFTC, but has claimed relief under Rules 4.12(c)(3) and 4.7 under the CEA, respectively, from certain disclosure, reporting, and recordkeeping requirements otherwise applicable to commodity pools. Neither the Domestic Subsidiary III nor the Domestic Subsidiary IV intends to invest more than a de minimis level of its net assets in "commodity interests" (as defined under the CEA). Accordingly, BAIA is relying on CFTC No-Action Letter 12-38 with respect to the Domestic Subsidiary III and has claimed an exemption under Rule 4.13(a)(3) from registration as a commodity pool operator with respect to the Domestic Subsidiary IV.

Capitalized terms used, but not defined herein, shall have the meaning assigned to them in the Prospectus of the Fund.

**2. Basis of Presentation** 

The Fund's Consolidated Schedule of Investments is prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and are stated in U.S. dollars, except as otherwise noted. The preparation of Consolidated Schedule of Investments in accordance with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income and expenses during the period. Actual results could differ from these estimates and these differences could be material.

The Fund is an investment company in accordance with Accounting Standards Codification 946, *Financial Services—Investment Companies* ("ASC 946"), which defines investment companies and prescribes specialized accounting and reporting requirements for investment companies.

**<u>Consolidation</u>**

The Fund consolidates its investment in the Subsidiaries. All material intercompany balances and transactions have been eliminated.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

**3. Significant Accounting Policies** 

**<u>Valuation Policy</u>**

The net asset values ("NAV") of the Fund's shares are calculated as of the close of regular trading on the New York Stock Exchange ("NYSE") (generally 4:00 pm Eastern Time) on each day that the NYSE is open for business (a "Business Day").

For purposes of calculating the NAV for each class of shares, the Fund values its investments in securities, securities sold short, derivative financial instruments and other investments at market value if market quotations are readily available, and otherwise at fair value as determined in good faith by the Board of the Fund, or its designee. The Board has delegated the day to day responsibility for valuing portfolio securities, derivative financial instruments, and other investments, including investments in private funds (the "Valuation Process") to the Custodian and has delegated responsibility for the supervision of the Custodian's implementation of the Valuation Process to the Investment Adviser. In accordance with Rule 2a-5 under the 1940 Act, the Board has designated the Investment Adviser as the "valuation designee" of the Fund. Each of the Board and the Investment Adviser has established procedures for determining the value of the Fund's portfolio securities, including securities sold short, derivative financial instruments and other investments (together, the "investments") (together, the "Valuation Procedures"). Pursuant to the Valuation Procedures, if market quotations are not readily available (or are otherwise not reliable for a particular investment), the fair value will be determined, in good faith by the Investment Adviser, acting in its capacity as the valuation designee under Rule 2a-5 of the 1940 Act. Due to the inherent uncertainty, estimates of fair value may differ from the values that would have been used had a ready market for these investments existed and the differences could be material.

A market quotation is "readily available" only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be "readily available" if it is not reliable. Accordingly, a security will not be considered to have readily available market quotations if its value is not determined solely by reference to Level 1 inputs in the fair value hierarchy outlined in U.S. GAAP, including where events occur after the close of the relevant market, but prior to the close of the NYSE, that materially affect the value of the Fund's investments. In addition, market quotes are considered not readily available when, due to extraordinary circumstances, the exchanges or markets on which securities trade do not open for trading for the entire day and no other market prices are available. The Board has delegated to the Investment Adviser the responsibility for monitoring significant events that may materially affect the values of the Fund's investments and for determining whether the value of the applicable investments should be re-evaluated in light of such significant events.

**<u>Fair Value Measurements</u>**

Fair value guidance defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. U.S. GAAP defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability (i.e., the exit price) in an orderly transaction between market participants at the measurement date.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for investments categorized in Level 3. The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.

Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – quoted prices are available in active markets for identical investments as of the measurement
date. The Fund does not adjust the quoted price for these investments.

The types of investments categorized within Level 1 generally include actively traded domestic and certain foreign equity securities, short-term investments and derivative financial instruments actively traded on recognized exchanges.

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – quoted prices are available in markets that are not active or model inputs are based on inputs
that are either directly or indirectly observable as of the measurement date.

The types of investments categorized within Level 2 generally include certain foreign equities; fixed income securities including corporate and convertible bonds, loans, trade claims, sovereign debt obligations, U.S. Treasury obligations, and asset-backed and mortgage-backed securities; over-the-counter ("OTC") derivative financial instruments such as total return swaps, interest rate swaps, credit default swaps, OTC options; and forward foreign currency exchange contracts ("Forwards").

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – pricing inputs are unobservable and include instances where there is little, if any, market
activity for the investment. Inputs reflect the best estimate of what market participants would use in determining fair value of investments as of the measurement date.

Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the fair value hierarchy.

Level 3 investments are valued by broker quotes, fair value models, or pricing services that may employ valuation techniques with unobservable inputs. At June 30, 2025, the total fair value of Level 3 investments was $60,134,349. The appropriateness of fair values for these securities are monitored on an ongoing basis, including through backtesting, pricing due diligence, unchanged price review, use of specialists, and consideration of macro security specific events.

The significant inputs and assumptions required to determine the change in fair value of the investments of the Fund are discussed in more detail below.

A description of the valuation techniques applied to the Fund's major categories of investments measured at fair value on a recurring basis are as follows:

*<u>Exchange-Traded Securities</u>*

Equity securities, including common stock, listed preferred stock, exchange-traded funds, special purpose acquisition companies, and derivative financial instruments, such as futures contracts and option contracts, that are traded on a recognized securities exchange or on the NASDAQ Global Market System ("NASDAQ") are valued at the last reported sales price (or the official closing price of certain foreign exchanges) or the NASDAQ official closing price, as applicable. For securities traded on more than one exchange, the last reported sales price on the exchange where the security is primarily traded is used. To the extent these securities and derivative financial instruments are actively traded and adjustments are not applied, they are categorized as Level 1 within the fair value hierarchy.

The Fund may use a third-party fair valuation service provider to value foreign equity securities that are primarily traded outside of North America and South America. The third-party fair valuation service provider calculates a factor ("Fair Value Factor") that is applied to adjust the last price of each such security in the event that there is movement in excess of a specified trigger, as measured by the movement between the prior close and the current close of the U.S. market. Foreign equities for which the last price has been adjusted by such factor will generally be categorized as Level 2 within the fair value hierarchy. As of June 30, 2025, Fair Value Factor was applied to such securities.

*<u>Short-Term Investments</u>*

The Fund considers short-term, highly liquid investments with original maturities of 90 days or less when acquired to be short-term investments.

*<u>Derivative Financial Instruments</u>*

OTC derivative financial instruments, such as Forwards, OTC options contracts, or swap agreements, derive their value from underlying referenced instruments or obligations, indices, reference rates, and other inputs or a combination thereof. These contracts are normally valued by pricing service providers or based on broker-dealer quotations. Depending on the nature of the instruments and the terms of the transaction, the value of OTC derivative financial instruments can be estimated by a pricing service provider using a series of techniques, including industry standard pricing models. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, yield curves, dividends and exchange rates. Derivative financial instruments that use similar valuation techniques and inputs as described above are categorized as Level 2 within the fair value hierarchy.

Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are valued at the daily settlement price determined by the clearing exchange. For centrally cleared credit default swaps, the clearing facility requires its members to provide actionable levels across complete term structures. These levels along with external third-party prices are used to produce daily settlement prices. Centrally cleared interest rate swaps are valued using a pricing model that references the underlying rates to produce the daily settlement price. These securities are categorized as Level 2 within the fair value hierarchy.

*<u>Fixed Income Securities</u>*

Fixed income securities, including corporate and convertible bonds, U.S. government sponsored agency securities, municipal bonds, U.S. Treasury obligations, foreign debt obligations, and bank debt are normally valued by pricing service providers on the basis of last available bid price. In determining the value of a particular investment, pricing service providers may use broker-dealer quotations, reported trades, or valuation estimates from their internal pricing models to determine the reported price that consider observable inputs. The pricing service providers' internal models use observable inputs such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 within the fair value hierarchy.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

Mortgage-related securities ("MBS") and asset-backed securities ("ABS") are usually issued as separate tranches, or classes, of securities within each deal. These securities are also generally valued by pricing service providers that use broker-dealer quotations or valuation estimates from their internal pricing models. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche, and in corporate deal collateral performance, as available. MBS and ABS that use similar valuation techniques and inputs as described above are categorized as Level 2 within the fair value hierarchy.

*<u>Investments in Investee Funds</u>*

The fair value of investments in unaffiliated investment funds (collectively, the "Investee Funds") is generally determined using the reported NAV per share of the Investee Fund, or its equivalent, as a practical expedient for fair value, unless the investment in the Investee Fund is traded on a recognized securities exchange and a quoted price is available as of the measurement date. If the Investee Fund is not traded on an exchange, the Fund may, as a practical expedient, estimate the fair value of an Investee Fund based on the reported NAV per share or its equivalent if the reported NAV per share or its equivalent of the Investee Fund is calculated in a manner consistent with the measurement principles applied to investment companies, in accordance with ASC 946. If the Investee Fund does not provide a reported NAV per share or its equivalent on a Business Day, the Investment Adviser shall estimate fair value in good faith and in a manner consistent with the Valuation Procedures.

**<u>Securities and Other Investments</u>**

*<u>Bank Debt</u>*

The Fund may invest in bank debt including, for example, corporate loans, trade claims, loan participations, direct debt, revolvers, bank loans, and bridge loans. The Fund invests in loans through novations, assignments, and participation interests. In a novation, the Fund typically assumes all of the rights of a lending institution, including the right to receive payments of principal and interest and other amounts directly from the borrower and to enforce its rights as a lender directly against the borrower. When the Fund takes an assignment of a loan, the Fund acquires some or all of the interest of another lender (or assignee) in the loan. In such cases, the Fund may be required generally to rely upon the assignor to demand payment and enforce rights under the loan. If the Fund acquires a participation in the loan, the Fund purchases an indirect interest in a loan held by a third-party and the Fund typically will have a contractual relationship only with the third-party loan investor, not with the borrower. As a result, the Fund may have the right to receive payments of principal, interest, and any fees to which it is entitled only from the loan investor selling the participation and only upon receipt by such loan investor of such payments from the borrower. In such cases, the Fund assumes the credit risk of both the borrower and the loan investor selling the participation, and the Fund may be unable to realize some or all of the value of its interest in the loan in the event of the insolvency of the third-party. Changes in the financial condition of the borrower or economic conditions or other circumstances may reduce the capacity of the borrower to make principal and interest payments on such instruments and may lead to defaults. Certain types of bank debt may have an associated partially funded or unfunded commitment. The unfunded commitments may or may not be funded by the Fund. At June 30, 2025, the Fund had an outstanding commitment of $949,222 related to held unfunded commitments.

*<u>Mortgage-Related and Other Asset-Backed Securities</u>*

The Fund may invest in MBS (residential and commercial) and other ABS. These securities include mortgage pass-through securities, collateralized mortgage obligations, commercial mortgage-backed securities, residential mortgage-backed securities, collateralized debt obligations, collateralized loan obligations, and other securities that directly or indirectly represent a participation in, or are secured by and payable from, mortgage loans on real property. MBS and other ABS represent interests in pools of mortgages, loans or other assets. MBS are created from pools of residential or commercial mortgage loans, including loans made by savings and loans institutions, mortgage bankers, commercial banks and others. These securities typically provide a monthly payment that consists of principal and/or interest payments. Interest payments may be determined by fixed or adjustable rates. MBS and ABS are subject to credit, interest rate, valuation liquidity, prepayment and extension risks.

*<u>Securities Sold Short</u>*

The Fund may sell securities short (a "Short Sale"). A Short Sale is a transaction whereby the Fund sells securities it does not own in anticipation of a decline in the market price of those securities, whereby the Fund's broker will execute a borrow transaction to deliver the securities resulting from the Fund's Short Sale. The Fund is obligated to repurchase the securities at the market price at the time of replacement. The Fund's obligations to replace the securities in connection with a Short Sale are secured by collateral.

Upon entering into a Short Sale, the Fund establishes a liability which is recorded as securities sold short on the Consolidated Schedule of Investments to represent securities due under the Short Sale agreement. The Fund is liable to pay any dividends declared and/or interest income earned during the period the Short Sale is open. These dividends and interest are recorded as dividend and interest expense on securities sold short.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

*<u>Commodities</u>*

The Fund is permitted to invest in California Carbon Allowances ("CCAs") or futures on CCAs, which are generally treated as commodity interests in this report. CCAs and other allowances (collectively, "Allowances") are valued according to their vintage based on market price or the number of Allowances delivered during the valuation month. ICE Futures U.S., Inc. ("ICE") will serve as the primary pricing source. When early vintage Allowances no longer have readily observable market prices from ICE, they will be valued using prices for later vintage Allowances. ICE lists widely-traded futures contracts for the Allowance market. These contracts result in the delivery of an Allowance at expiry. The ICE CCA contracts permit delivery of Allowances issued by California or any linked program (at this time Quebec and Ontario). Trading in these futures contracts are subject to ICE's market rules. ICE lists separate CCAs by vintage (e.g., 2022 Vintage, 2023 Vintage and 2024 Vintage). The most traded ICE CCA contracts allow delivery of the indicated vintage or an earlier vintage; hence a 2022 Vintage Allowance can be delivered against the 2023 Vintage Contract. This flexibility means futures contracts on earlier vintages are usually more liquid than, and worth at least as much as, later vintages.

*<u>Repurchase Agreements</u>*

The Fund may invest in repurchase agreements, which are short term investments whereby the Fund acquires ownership of a debt security and the seller agrees to repurchase the security at a future date at a specified price. When entering into repurchase agreements, it is the Fund's policy that the repurchase agreement be fully collateralized and that its custodian take possession of the underlying collateral securities. The repurchase counterparty has the ability to request additional collateral depending on the market value of the collateral security compared to the principal amount of the repurchase transaction in line with the agreement. To the extent that any repurchase transaction exceeds one Business Day, the value of the collateral is marked-to-market to ensure the adequacy of the collateral. If the seller defaults and the market value of the collateral declines or if bankruptcy proceedings are commenced with respect to the seller of the security, realization of the collateral by the Fund may be delayed or limited. The information required to be disclosed by FASB Accounting Standards Update ("ASU") No. 2011-11 for the Fund's investments in repurchase agreements as of June 30, 2025, including the fair value of the repurchase agreement and the amount of collateral, can be found in the Fund's Consolidated Schedule of Investments.

*<u>Reverse Repurchase Agreements</u>*

The Fund may enter into reverse repurchase agreements. In a reverse repurchase agreement, the Fund sells a security in exchange for cash to a financial institution, the counterparty, with a simultaneous agreement to repurchase the same or substantially the same security at an agreed upon price and date, under the terms of a Master Repurchase Agreement ("MRA"). The Fund is entitled to receive principal and interest payments, if any, made on the security delivered to the counterparty during the term of the agreement. Cash received in exchange for securities delivered plus accrued interest payments to be made by the Fund to counterparties is reflected as a liability. Reverse repurchase agreements involve the risk that the market value of the securities purchased with the proceeds from the sale of securities received by the Fund may decline below the price of the securities the Fund is obligated to repurchase. Reverse repurchase agreements also involve credit risk with the counterparty to the extent that the value of securities subject to repurchase exceeds the Fund's liability under the reverse repurchase agreement. Securities subject to repurchase under reverse repurchase agreements, if any, are designated as such in the Consolidated Schedule of Investments. Due to the short term nature of the reverse repurchase agreements, face value approximates fair value. As of June 30, 2025, the face value of open reverse repurchase agreements for the Fund was $0.

An MRA contains provisions for, among other things, initiation, income payments, events of default and maintenance of securities for repurchase agreements. An MRA also permits offsetting with collateral to create one single net payment in the event of default or similar events, including the bankruptcy or insolvency of a counterparty. The Fund may not use reverse repurchase agreements and related collateral governed by an MRA to offset derivatives contracts and related collateral governed by an ISDA or securities lending agreements ("SLA") and related collateral governed by an SLA (see Securities Lending below).

*<u>Securities Lending</u>*

The Fund may lend securities, through its agent, to certain qualified financial institutions. The loans are collateralized by cash in an amount at least equal to the market value of the securities loaned. The market value of securities loaned is determined daily and any additional required collateral is allocated to the Fund on the next Business Day. The initial collateral received by the Fund should have a value of at least 102% of the current value of loaned securities for U.S. securities and at least 105% for all other securities. The Fund will bear the risk of loss with respect to the investment of the cash collateral, as well as the possible loss of right to the collateral should the borrower fail financially. The advantage of such loans is that the Fund continues to receive income on loaned securities while earning returns on the cash amounts which may be reinvested for the purchase of investments in securities. As of June 30, 2025, there were no securities on loan.

The SLA entered into by the Fund provides the right, in the event of default, for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. Under the agreement, the Fund can reinvest cash collateral.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

*<u>When-Issued and Delayed-Delivery Transactions</u>*

The Fund may engage in when-issued or delayed-delivery transactions. The Fund records when-issued or delayed-delivery securities on the trade date and maintains security positions such that sufficient liquid assets will be available to make payment for the securities purchased. Securities purchased on a when-issued or delayed-delivery basis are marked-to-market daily and begin earning interest on the settlement date. Losses may occur on these transactions due to changes in market conditions or the failure of counterparties to perform under the contract.

The Fund may transact in to-be announced securities ("TBAs"). As with other delayed-delivery transactions, a seller agrees to issue TBAs at a future date. However, the seller does not specify the particular securities to be delivered. Instead, the Fund agrees to accept any security that meets specified terms such as issuer, interest rate and terms of underlying mortgages. The Fund records TBAs on the trade date utilizing information associated with the specified terms of the transaction as opposed to the specific mortgages. TBAs are marked-to-market daily and begin earning interest on the settlement date. Losses may occur due to the fact that the actual underlying mortgages received may be less favorable than those anticipated by the Fund.

*<u>Restricted Securities</u>*

The Fund may purchase securities which are considered restricted. Restricted securities are securities that cannot be offered for public sale without first being registered under the Securities Act of 1933, as amended, or are subject to contractual restrictions on public sales. Many such restricted securities may be resold in the secondary market in transactions exempt from registration. The Fund will not incur any registration costs upon such resales. The Fund cannot demand registration of restricted securities. The Fund's restricted securities, like other securities, are priced in accordance with the Valuation Procedures. Restricted securities are identified in the Consolidated Schedule of Investments.

**4. Derivative Financial Instruments** 

In the normal course of business, the Fund enters into derivative financial instrument contracts for trading and/or economic hedging purposes to increase the returns of the Fund or to help manage certain risks such as credit risk, equity risk, interest rate risk, foreign currency exchange risk or other risk (e.g., inflation risk). These contracts may be transacted on a recognized exchange or OTC. The following disclosures contain information on how the Fund uses derivative financial instruments. The derivative financial instruments outstanding as of period ended are disclosed in the Consolidated Schedule of Investments.

**<u>Forward Foreign Currency Exchange Contracts</u>**

The Fund may enter into Forwards to obtain investment exposure, seek to enhance return or hedge or protect its portfolio holdings against the risk of future movements in certain foreign currency exchange rates. Forwards are agreements between two parties to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed upon future date. The market value of a Forward fluctuates with the changes in foreign currency exchange rates. These contracts are valued daily and the change in market value is recorded as an unrealized gain or loss on Forwards. When a contract is closed, the Fund recognizes a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The use of Forwards does not eliminate fluctuations in the underlying prices of the securities of the Fund, but it does establish a rate of exchange that can be achieved in the future. Although Forwards may limit the risk of loss due to a decline in the value of the currency holdings, they also limit any potential gain that might result should the value of the currency increase. In addition, the Fund could be exposed to losses if the counterparties to the contracts are unable to meet the terms of the contracts. The Fund's maximum potential loss from such contracts is the aggregate face value in U.S. dollars at the time the contract was opened.

**<u>Futures Contracts</u>**

The Fund may enter into futures contracts to maintain investment exposure to a target asset class or to seek to enhance return. The Fund may be subject to fluctuations in equity prices, interest rates, commodity prices and foreign currency exchange rates in the normal course of pursuing its investment objective. Futures contracts are standardized agreements to buy or sell a security or deliver a final cash settlement price in connection with an index, interest rate, currency, or other asset. The Fund must deposit an amount ("initial margin") equal to a certain percentage of the face value of the futures contract. The initial margin may be in the form of cash or securities which is returned when the Fund's obligations under the contract have been satisfied. If cash is deposited as the initial margin, it is shown as segregated cash balance with broker for futures contracts. Futures contracts are marked-to-market daily and subsequent payments ("variation margin") are made or received by the Fund depending on whether unrealized gains or losses are incurred. When the contract is closed or expires, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The potential risk to the Fund is that the change in value of futures contracts may not correspond to the change in the value of the hedge investments. In addition, losses may arise from changes in the value of the underlying

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

instrument, if interest or exchange rates move unexpectedly or if the counterparty is unable to perform. With futures, there is minimal counterparty credit risk to the Fund since futures are exchange traded and the exchanges' clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

**<u>Options Contracts</u>**

The Fund may purchase and write call and put options. An option contract purchased by the Fund gives the Fund the right, but not the obligation, to buy (call) or sell (put) an underlying instrument at a fixed exercise price during a specified period. Call options written by the Fund give the holder the right to buy the underlying instrument from the Fund at a fixed exercise price; put options written by the Fund give the holder the right to sell the underlying instrument to the Fund at a fixed exercise price. The Fund may use options to hedge against changes in values of securities or currencies it owns or expects to own, to gain or to maintain exposure to interest rates, currencies or broad equity markets, to generate additional income or to enhance returns.

Options trading involve certain additional risks. Specific market movements of the option and the instruments underlying the option cannot be predicted. No assurance can be given that a liquid secondary market will exist for any particular option or at any particular time. The Fund might not be able to enter into a closing transaction for the option as a result of an illiquid market for the option. To realize any profit in the case of an option, therefore, the option holder would need to exercise the option and comply with margin requirements for the underlying instrument. A writer could not terminate the obligation until the option expired or the writer was assigned an exercise notice. The purchaser of an option is subject to the risk of losing the entire purchase price of the option. The writer of an option is subject to the risk of loss resulting from the difference between the premium received for the option and the price of the futures contract underlying the option that the writer must purchase or deliver upon exercise of the option. The writer of a naked option may have to purchase the underlying contract in the market for substantially more than the exercise price of the option in order to satisfy his delivery obligations. This could result in a large net loss.

Equity, foreign currency or index options that may be purchased or sold by the Fund may include options not traded on a securities exchange. The risk of nonperformance by the counterparty on such option may be greater and the ability of the Fund to enter into a closing transaction with respect to such option may be less than in the case of an exchange traded option.

The Fund may purchase or write interest rate swaption agreements, which are options to enter into a predefined swap agreement by some specific date in the future. The writer of the swaption becomes the counterparty to the swap if the buyer exercises. The interest rate swaption agreement will specify whether the buyer of the swaption will be a fixed-rate receiver or a fixed-rate payer upon exercise.

Purchases of put and call options are recorded as investments, the value of which are marked-to-market daily. When a purchased option expires without being exercised, the Fund will realize a loss equal to the premium paid. When the Fund enters into a closing sale transaction, the Fund will realize a gain or loss depending on whether the sales proceeds from the closing sale transaction are greater or less than the premium initially paid for the option. When the Fund exercises a put option, it will realize a gain or loss from the sale of the underlying instrument and the proceeds from such sale will be decreased by the premium originally paid for the put option. When the Fund exercises a call option, the cost of the security which the Fund purchases upon exercise will be increased by the premium originally paid for the call option. Realized gains and losses on purchased options are included in realized gains and losses on investments.

The premium received for a written option is recorded as an asset and an equivalent liability. The liability is marked-to-market daily in accordance with the option's valuation policy. When a written option expires without being exercised or the Fund enters into a closing purchase transaction, the Fund realizes a gain (or loss if the cost of the closing purchase transaction exceeds the premium received when the option was sold) without regard to any unrealized gain or loss on the underlying instrument and the liability related to such option is eliminated. When a written call option is exercised, the Fund realizes a gain or loss, as adjusted for the premium received, from the sale of the underlying instrument. When a written put option is exercised, the premium received is offset against the amount paid for the purchase of the underlying instrument.

**<u>Swap Agreements</u>**

The Fund may enter into total return, interest rate, credit default, variance and volatility swap agreements ("Swaps"). Swaps are bilaterally negotiated agreements between the Fund and a counterparty in which the Fund and counterparty agree to make either periodic net payments on a specified notional amount or a net payment upon termination. Swaps are privately negotiated in the OTC market or may be executed in a multilateral or other trade facility platform, such as a registered exchange or swap execution facility ("centrally cleared swaps"). The Fund may enter into Swaps for the purposes of managing exposure to interest rate, credit or market risk, or for other purposes. In connection with these agreements, securities or cash ("segregated cash" or "collateral") may be paid or received, as applicable, by the Fund as collateral or margin in accordance with the terms of the respective Swaps to provide assets of value and recourse in the event of default or bankruptcy/insolvency. Securities posted by the Fund as collateral for swaps are identified in the Consolidated Schedule of Investments.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

Swap transactions involve, to varying degrees, elements of interest rate, credit and market risk. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform, or that there may be unfavorable changes in market conditions or interest rates. In addition, entering into Swaps involves documentation risk resulting from the possibility that the parties to a Swap may disagree as to the meaning of contractual terms in the agreement. The Fund's maximum risk of loss from counterparty credit risk is the discounted value of the net cash flows to be received from the counterparty over the contract's remaining life, to the extent that amount is positive, or the fair value of the contract. The risk may be mitigated by having an MNA between the Fund and the counterparty and by the posting of collateral by the counterparty to cover the Fund's exposure to the counterparty.

*Interest Rate Swaps:* The Fund may enter into OTC and/or centrally cleared interest rate swap contracts to hedge interest rate risk, to gain exposure on interest rates and to hedge prepayment risk. The Fund is subject to interest rate risk exposure in the normal course of pursuing their investment objectives. The Fund may hold fixed rate bonds, and the value of these bonds may decrease if interest rates rise. Interest rate swaps are agreements in which one party pays a stream of interest payments, either fixed or floating rate, for another party's stream of interest payments, either fixed or floating, on the same notional amount for a specified period of time. The Fund's maximum risk of loss from counterparty credit risk, as opposed to investment and other types of risk, in respect of interest rate swaps is typically the discounted net value of the cash flows to be received from the counterparty over the contracts remaining life, to the extent that amount is positive.

Interest rate swaps can be purchased or sold with an upfront premium. An upfront payment received by the Fund is recorded as a liability and an upfront payment made by the Fund is recorded as an asset. Interest rate swaps are marked-to-market daily and any change is recorded as an unrealized gain or loss on swaps. Daily fluctuations in the value of centrally cleared interest rate swaps are recorded as a receivable or payable for variation margin. Payments, including upfront premiums, received or made are recorded as realized gains or losses at the closing of the contract.

*Total Return Swaps:* The Fund may enter into total return swaps to obtain exposure to a security, index, market or other basket of securities without owning such security or investing directly in that security, index, market or other basket of securities or to transfer the risk/return of one market (e.g., fixed income) to another market (e.g., equity) (equity risk and/or interest rate risk). Total return swaps are agreements in which one party agrees to make periodic payments to another party based on the change in market value of the underlying instrument, which may include a specified security, index, basket of securities or securities indices during the specific period, in return for periodic payments based on a fixed or floating rate or the total return from other underlying assets. To the extent the total return of the instrument underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the Fund will receive a payment from or make a payment to the counterparty. Total return swaps can also be structured without an interest payment, so that one party pays the other party if the value of the underlying instrument increases and receives payment from the other party if the value of the underlying asset decreases.

The Fund may utilize total return swaps on baskets of securities ("Basket Swaps") to a significant extent in order to obtain synthetic exposure to investment strategies. For a Basket Swap, the Fund or a Subsidiary makes payments to a counterparty (at either a fixed or variable rate) in exchange for receiving from the counterparty payments that reflect the return of a "basket" of securities, derivatives, and/or commodity interests identified by the Sub-Adviser (or the Investment Adviser). The Fund may also utilize structured notes ("Basket Notes") in which the Fund or a Subsidiary purchases a note from an issuer in exchange for receiving from the issuer payments that reflect the return of an account through which the Sub-Adviser (or the Investment Adviser) manages a portfolio reflecting a basket of securities, derivatives, and/or commodity interests. The Sub-Adviser (or the Investment Adviser) will select and manage the securities, derivatives, and/or commodity interests underlying the Basket Swap or the Basket Note in a manner consistent with the Fund's strategies. The Fund's investment returns on Basket Swaps or Basket Notes generally will correspond to the Fund's returns had the Sub-Adviser managed the notional equivalent of the Fund's assets directly (although returns on Basket Swaps or Basket Notes will be reduced by financing charges and trading costs incurred by the Basket Swap counterparty or Basket Note issuer). The Fund may obtain a significant portion of its investment exposure through Basket Swaps and/or Basket Notes.

*Credit Default Swaps:* The Fund may enter into OTC and/or centrally cleared credit default swap contracts to hedge credit risk, to hedge market risk, or to gain exposure on single-name issuers and/or baskets of securities.

In a credit default swap contract, the protection buyer typically makes an upfront payment and a periodic stream of payments to a counterparty, the protection seller, in exchange for the right to receive a contingent payment upon the occurrence of a credit event on the reference obligation or all other equally ranked obligations of the reference entity. Credit events are contract specific but may include bankruptcy, failure to pay, restructurings and obligation acceleration. An upfront payment received by the Fund or made by the Fund is recorded as a liability or asset respectively. Periodic payments received or paid by the Fund are recorded as realized gains or losses. Credit default swap contracts are marked-to-market daily and the change is recorded as an unrealized gain or loss on swaps. Upon the occurrence of a credit event, the difference between the par value and the market value of the reference obligation, net of any proportional amount of upfront payment, is recorded as a realized gain or loss on swaps.

*Variance Swaps:* A variance swap is a negotiated contract used to hedge or speculate on the magnitude of a price movement of an underlying asset, which can include exchange rates, interest rates, commodity price or the price of an index, i.e. the variance is the difference between an expected result and the actual result.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

*Volatility Swaps:* A volatility swap is a negotiated contract with a payoff based on the realized volatility of an underlying asset where the realized amount is the difference between the realized volatility and the volatility strike or predetermined fixed volatility level.

Interest rate swaps, total return swaps, credit default swaps, variance swaps, and volatility swaps outstanding at period end are listed at the end of the Fund's Consolidated Schedule of Investments.

**5. Fair Value Measurements** 

The following table presents information about the classification of the Fund's investments measured at fair value within the fair value hierarchy as of June 30, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Assets:** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  Investments in Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $1118656218 | $17991572 | $15503297 | $1152151087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred Stock |  |  | 2013337 | 2013337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities |  | 240885139 |  | 240885139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Convertible Bonds |  | 2116125 | 344162 | 2460287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank Debt |  | 106571873 | 38979242 | 145551115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes |  | 328351239 | 3559935 | 331911174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sovereign Debt |  | 125388253 |  | 125388253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities |  | 776854743 |  | 776854743 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations |  | 24822680 |  | 24822680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Closed-End Fund |  | 38441334 |  | 38441334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warrants |  | 1112 |  | 1112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rights |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Repurchase Agreements |  | 82589663 |  | 82589663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange-Traded Funds | 10606666 |  |  | 10606666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchased Options | 22447988 | 10879314 | 22525 | 33349827 |
|  **Subtotal** | **1151710872** | **1754893047** | **60422498** | **2967026417** |
|  **Investments Valued at NAV** | **—** | **—** | **—** | **413981747** |
|  **Total Investments in Securities** | $**1151710872** | $**1754893047** | $**60422498** | $**3381008164** |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | 51717247 |  |  | 51717247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps |  | 11489631 |  | 11489631 |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Credit Default Swaps |  | 1543481 |  | 1543481 |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Total Return Swaps |  | 34130341 |  | 34130341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Variance Swaps |  | 9284 |  | 9284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts |  | 1460539 |  | 1460539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps |  | 6767613 |  | 6767613 |
|  **Total Investments in Securities and Other Financial Instruments** | $**1203428119** | $**1810293936** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60422498** | $**3488126300** |
| **Liabilities:** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  Securities Sold Short: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stock | $(671702281) | $(2949887) | $(12506) | $(674664674) |
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes |  | (18727599) |  | (18727599) |
| &nbsp;&nbsp;&nbsp;&nbsp; Sovereign Debt |  | (58851240) |  | (58851240) |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities |  | (99987846) |  | (99987846) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations |  | (1446317) |  | (1446317) |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange-Traded Funds | (28851054) |  |  | (28851054) |
| &nbsp;&nbsp;&nbsp;&nbsp; Rights |  |  | (29) | (29) |
|  **Total Securities Sold Short** | **(700553335)** | **(181962889)** | **(12535)** | **(882528759)** |

---

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liabilities:** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Options Written | $(21490832) | $(1446134) | $(151255) | $(23088221) |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | (65650792) |  |  | (65650792) |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps |  | (7677641) | (124359) | (7802000) |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Total Return Swaps |  | (6138695) |  | (6138695) |
| &nbsp;&nbsp;&nbsp;&nbsp; Variance Swaps |  | (4253483) |  | (4253483) |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Exchange Contracts |  | (4084888) |  | (4084888) |
| &nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps |  | (2291003) |  | (2291003) |
| &nbsp;&nbsp;&nbsp;&nbsp; OTC Credit Default Swaps |  | (2919581) |  | (2919581) |
|  **Total Securities Sold Short and Other Financial Instruments** | $**(787694959)** | $**(210774314)** | $**(288149)** | $**(998757422)** |

---

Investments in Investee Funds that are measured at fair value using NAV as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Schedule of Investments.

Investments in Investee Funds that are non-redeemable or subject to other restrictions such as a lockup at the measurement date or have the ability to limit the individual amount of investor redemptions shall be classified as having a redemption restriction.

The following table summarizes investments in Investee Funds, by investment strategy, the unfunded commitment of each strategy (if applicable), and the amount of the investment in Investee Fund that cannot be redeemed because of redemption restrictions put in place by the Investee Fund.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Investments in<br>Investee Funds<br>by Strategy** | **Unfunded<br>Commitment<br>$** | **Non-Redeemable<br>Investments (A)** | **Non-Redeemable<br>Investments (A)** | **Other Restricted<br>Investments (B)** | **Other Restricted<br>Investments (B)** | **Investments<br>Subject to No<br>Restrictions** | **Total**<br> **$** |
| &nbsp;&nbsp;&nbsp; **Investments in<br>Investee Funds<br>by Strategy** | **Unfunded<br>Commitment<br>$** | **Amount**<br> **$** | **Redemption<br>Restriction<br>Commencement<br>Date** | **Amount**<br> **$** | **Redemption<br>Restriction<br>Term** | **Amount**<br> **$** | **Total**<br> **$** |
| &nbsp;&nbsp;&nbsp;Event-Driven <sup>(1)</sup> | N/A | 5217138 | N/A | 10617791 | Semi-Annual<br> with 60 days'<br> notice  |  | 15834929 |
| &nbsp;&nbsp;&nbsp;Macro Strategies <sup>(2)</sup> | N/A | N/A | N/A | 175836890 | Monthly with 90 days' notice |  | 175836890 |
| &nbsp;&nbsp;&nbsp;Macro Strategies <sup>(2)</sup> | N/A | N/A | N/A | 169883347 | Daily with 6 days' notice |  | 169883347 |
| &nbsp;&nbsp;&nbsp;Macro Strategies <sup>(2)</sup> | N/A | N/A | N/A | 52426581 | Monthly with 60 days' notice |  | 52426581 |

---

(1) The Event-Driven strategy generally includes Investee Funds that seek returns by investing in strategies
including catalyst events, share class arbitrage, share buybacks, post re-organization equity, recapitalizations, spin-offs and stub trades.

(2) The Macro Strategies strategy generally includes Investee Funds with a focus on opportunistic and strategic
allocations across asset classes including but not limited to bonds, rates, currencies and commodities.

(A) Investments in Investee Funds cannot currently be redeemed and the remaining redemption restriction period is
not known. The date the redemption restriction commenced is disclosed when known.

(B) Investments subject to other restrictions include investments in Investee Funds that are subject to a lockup at
the measurement date and/or have the ability to limit the individual amount of investor redemptions. The redemption restriction term is based on the restriction period (or range of restriction periods) for Investee Funds as defined in each
respective Investee Fund's governing legal agreement without consideration of the length of time elapsed from the date of investments in Investee Funds. The Fund's investment in a particular Investee Fund classified within the strategies
above may be comprised of investments with differing liquidity terms or investments that were made at differing points in time.

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

The Fund recognizes transfers within the fair value hierarchy as of the beginning of the period. Transfers into and out of Level 3 were primarily related to the availability of broker quotations in accordance with the Fund's valuation methodology.

The changes in investments measured at fair value for which the Fund used Level 3 inputs to determine fair value are as follows:

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Valuation<br>Description** | **Beginning<br>Balance<br>as of**<br>**March 31,**<br>**2025** | **Transfers<br>In** | **Transfers<br>Out** | **Purchases** | **Sales** | **Amortization** | **Net**<br>**Realized<br>gain (loss)** | **Net**<br>**change in<br>unrealized<br>appreciation<br>(depreciation)** | **<br>Balance<br>as of<br>June 30,**<br>**2025** | **Unrealized<br>Gain/(Loss)<br>as of<br>June 30,**<br>**2025** |
|  Common Stock | $12842427 | $— | $(3018902) | $306 | $— | $— | $— | $5679466 | $15503297 | $5679466 |
|  Preferred Stock | 2013337 |  |  |  |  |  |  |  | 2013337 |  |
|  Bank Debt | 28344124 | 17396501 | (8348162) | 3200911 | (2203830) | 65433 | (12035) | 536300 | 38979242 | 537278 |
|  Convertible Bonds | 337339 |  |  | 6822 |  | 153 |  | (152) | 344162 | (152) |
|  Corporate Bonds & Notes | 1658736 | 2361864 | (48174) | 854091 |  | 40141 | (147) | (1306576) | 3559935 | (1306576) |
|  Warrants | 4178965 |  | (4178965) |  |  |  |  |  |  |  |
|  Rights | 1294 |  | (1294) |  |  |  |  |  |  |  |
|  Common Stock Sold Short | (12506) |  |  |  |  |  |  |  | (12506) |  |
|  Purchased Options | 12694 |  |  | 25884 |  |  | (171952) | 155899 | 22525 | (3359) |
|  Rights Sold Short | (29) |  |  |  |  |  |  |  | (29) |  |
|  Written Options |  |  |  |  | (237872) |  |  | 86617 | (151255) | 86617 |
|  Centrally Cleared Credit Default Swaps on Index |  |  |  | 27600 | (115461) |  | (8700) | (27798) | (124359) | (27798) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49376381 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19758365 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15595497) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4115614 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2557163) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105727 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(192834) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5123756 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60134349 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4965476 |

---

------

**Blackstone Alternative Multi-Strategy Fund and Subsidiaries** 

**Notes to Consolidated Schedule of Investments (Continued)** 

**For the Period Ended June 30, 2025 (Unaudited)** 

The following table summarizes the quantitative inputs and assumptions used for investments classified within Level 3 of the fair value hierarchy as of June 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Valuation<br>Technique** | **Unobservable<br>Input** | **Fair Value at<br>June 30, 2025** | **Range of<br>Inputs<br>(Weighted<br>Average)** |
|  Investments in Securities and Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Debt | Broker-dealer Quotations | Indicative Bid | $29093217 | N/A |
|  | Comparable Company Multiples | EBITDA Multiples | 5380413 | 10.0x (a) |
|  |  | Estimated Forward EBITDA | 876730 | 14.0x (a) |
|  | Distribution Analysis | Expected Distribution Proceeds | 3628882 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stock | Broker-dealer Quotations | Indicative Bid | 11062610 | N/A |
|  | Distribution Analysis | Expected Distribution Proceeds | 4440687 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | Broker-dealer Quotations | Indicative Bid | 3559935 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible Bonds | Comparable Company Multiples | Estimated Forward EBITDA | 344162 | 14.0x (a) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stock | Broker-dealer Quotations | Indicative Bid | 2013337 | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchased Options | Broker-dealer Quotations | Indicative Bid | 22525 | N/A |
|  Total Investments in Securities and Other Financial Instruments | Total Investments in Securities and Other Financial Instruments |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60422498 |  |

---

(a) A significant change in unobservable input would have resulted in a correlated significant change to value.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liabilities** | **Valuation<br>Technique** | **Unobservable<br>Input** | **Fair Value at<br>June 30, 2025** | **Range of<br>Inputs<br>(Weighted<br>Average)** |
|  Securities Sold Short and Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stock Sold Short | Broker-dealer Quotations | Indicative Bid | $(12506) | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rights Sold Short | Broker-dealer Quotations | Indicative Bid | (29) | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written Options | Broker-dealer Quotations | Indicative Bid | (151255) | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Index | Broker-dealer Quotations | Indicative Bid | (124359) | N/A |
|  Total Securities Sold Short and Other Financial Instruments: | Total Securities Sold Short and Other Financial Instruments: |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(288149) |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Blackstone Alternative Investment Funds

- **b. Investment Company Act file number:** 811-22743

- **c. CIK number of Registrant:** 0001557794

- **d. LEI of Registrant:** 549300C1ND700M70DR68

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

  - **Street Address 1:** 345 PARK AVENUE

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10154-0004

  - **Telephone number:** 212-583-5000

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

- **a. Name of Series:** Blackstone Alternative Multi-Strategy Fund

- **b. EDGAR series identifier (if any):** S000045538

- **c. LEI of Series:** 549300L5W5CEUPTA7918

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $8022958772.05

**Total Liabilities:** $4268115912.12

**Net Assets:** $3754842859.93

**Amount of Assets Invested in Other Investment Companies:** $1568430157.24

**Delayed Delivery Securities:** $621716939.90

**Cash Not Reported:** $1345500069.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -505.20000000 | **1-Year:** -20484.36000000 | **5-Year:** -39326.99000000 | **10-Year:** 31962.09000000 | **30-Year:** -20493.42000000

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

- **3-Month:** 11095.34000000 | **1-Year:** -44861.32000000 | **5-Year:** 170282.15000000 | **10-Year:** -260002.46000000 | **30-Year:** -255961.14000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000145025 | 0.47%                | 0.56%                | 1.30%                |
| Class ID C000145027 | 0.47%                | 0.65%                | 1.30%                |
| Class ID C000141764 | 0.47%                | 0.65%                | 1.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1524689.21             | $20672754.29                               |
| Month 2  | $38176856.53             | $29886686.82                               |
| Month 3  | $15890031.56             | $20484487.54                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Countrywide Home Loans                                    | CHL Mortgage Pass-Through Trust 2005-3                                           | CUSIP: 12669GTS0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      403622 | PA      | $365339.92    | 0.01%             | 2035-04-25      | Floating      | 5.15%                 | No            | 2                  | On Loan: No      |
| Accuray Inc                                               | Accuray Inc                                                                      | CUSIP: 004397105<br>LEI: 549300G28LY4TZKZJG51 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-1644.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Inlif Ltd.                                                | INLIF LTD                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -300 | NS      | $-348.00      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Kezar Life Sciences Inc                                   | Kezar Life Sciences Inc                                                          | CUSIP: 49372L209<br>LEI: 549300EV1V8GXBV18004 | Long             | EC               | CORP              | US        |        1050 | NS      | $4809.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Compass Therapeutics Inc                                  | Compass Therapeutics Inc                                                         | CUSIP: 20454B104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4000 | NS      | $-10400.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SOUSD_SOFR_R_3.22_20590831_20290831_LCH                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $141162.69    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Ready Capital Corp                                        | Ready Capital Corp                                                               | CUSIP: 75574U101<br>LEI: 549300MYWGZUG7ZUYO87 | Short            | EC               |  | US        |      -14800 | NS      | $-64676.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137H8BA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    25784657 | PA      | $5116139.99   | 0.14%             | 2051-11-25      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Ionis Pharmaceuticals Inc                                 | Ionis Pharmaceuticals Inc                                                        | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |       35800 | NS      | $1414458.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.68095% 04/11/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $4418.62      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| vTv Therapeutics Inc                                      | vTv Therapeutics Inc                                                             | CUSIP: 918385204<br>LEI: 549300WQE5EI9R35SE66 | Short            | EC               | CORP              | US        |         -30 | NS      | $-442.20      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CHINA SNRFOR USD 100 Dec 2029 Morgan 1%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | CN        |     7000000 | OU      | $-154874.40   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| TOTAL PLAY TELECOM                                        | Total Play Telecomunicaciones SA de CV                                           | CUSIP: 000000000<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |     2214150 | PA      | $2095471.56   | 0.06%             | 2032-12-31      | Fixed         | 11.13%                | Yes           | 2                  | On Loan: No      |
| Thermon Group Holdings Inc                                | Thermon Group Holdings Inc                                                       | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |        1000 | NS      | $28080.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.033615% 02/05/2030 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      500000 | OU      | $-12408.00    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Sumitomo Corp                                             | Sumitomo Corp                                                                    | CUSIP: 000000000<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |         900 | NS      | $23226.03     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.85915% 03/05/2040 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -200000 | OU      | $-766.85      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Olema Pharmaceuticals Inc                                 | Olema Pharmaceuticals Inc                                                        | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4200 | NS      | $17892.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FMC Corp                                                  | FMC Corp                                                                         | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |        8700 | NS      | $363225.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| TScan Therapeutics Inc                                    | TScan Therapeutics Inc                                                           | CUSIP: 89854M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3000 | NS      | $4350.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| On Holding AG                                             | On Holding AG                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |        3200 | NS      | $166560.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Warrior Met Coal Inc                                      | Warrior Met Coal Inc                                                             | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Short            | EC               | CORP              | US        |       -4700 | NS      | $-215401.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| MHP Lux SA                                                | MHP Lux SA                                                                       | CUSIP: 000000000<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |     2857000 | PA      | $2657010.00   | 0.07%             | 2026-04-03      | Fixed         | 6.95%                 | Yes           | 2                  | On Loan: No      |
| Regal Rexnord Corp                                        | Regal Rexnord Corp                                                               | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Short            | EC               | CORP              | US        |       -3700 | NS      | $-536352.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | MAREX GROUP PLC CFD                                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | GB        |    -2326778 | OU      | $2270.93      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Best Buy Co Inc                                           | Best Buy Co Inc                                                                  | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Short            | EC               | CORP              | US        |       -4500 | NS      | $-302085.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.473% 08/28/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      300000 | OU      | $-2030.19     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Astronics Corp                                            | Astronics Corp                                                                   | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |        1400 | NS      | $46872.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137H1WU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    15011389 | PA      | $3391433.15   | 0.09%             | 2051-08-25      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Commodities Exchange Center                               | PALLADIUM OPT SEP 25 950P                                                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         -42 | NC      | $-25200.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Camtek Ltd/Israel                                         | Camtek Ltd/Israel                                                                | CUSIP: 000000000<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |        6200 | NS      | $524272.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                              | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    11000000 | PA      | $10562657.60  | 0.28%             | 2028-02-12      | Fixed         | 5.35%                 | No            | 2                  | On Loan: No      |
| Generation Bio Co                                         | Generation Bio Co                                                                | CUSIP: 37148K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2500 | NS      | $800.24       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BRASKEM NETHERLANDS                                       | Braskem Netherlands Finance BV                                                   | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |     2883000 | PA      | $2480247.42   | 0.07%             | 2028-01-10      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP    | Cia de Saneamento Basico do Estado de Sao Paulo SABESP                           | CUSIP: 20441A102<br>LEI: 254900UOXRZRS2TNWP19 | Short            | EC               | CORP              | BR        |       -3600 | NS      | $-79092.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Rockwell Medical Inc                                      | Rockwell Medical Inc                                                             | CUSIP: 774374300<br>LEI: 529900Y6YUB5X93MMD77 | Short            | EC               | CORP              | US        |       -2436 | NS      | $-2065.73     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ambarella Inc                                             | Ambarella Inc                                                                    | CUSIP: 000000000<br>LEI: 254900XN7F4DG0CEKC02 | Short            | EC               | CORP              | KY        |        -100 | NS      | $-6606.50     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS EUR 08/01/25 3.75C                                                   | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          21 | NC      | $25473.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE SPX VOLATILITY INDX JUL 25 47.5C                                            | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |        3404 | NC      | $34040.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| indie Semiconductor Inc                                   | indie Semiconductor Inc                                                          | CUSIP: 45569U101<br>LEI: 254900L1MFXFYGB1PV53 | Short            | EC               | CORP              | US        |       -5300 | NS      | $-18868.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% JUL 25 85P                                                      | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |         -84 | NC      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dime Community Bancshares Inc                             | Dime Community Bancshares Inc                                                    | CUSIP: 25432X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $8082.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | WHEAT (5000) SEP 25                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |         910 | NC      | $-486849.82   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Trinitas CLO Ltd                                          | Trinitas CLO XXIV Ltd                                                            | CUSIP: 89643AAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |     1000000 | PA      | $996396.00    | 0.03%             | 2037-04-25      | Floating      | 11.62%                | No            | 2                  | On Loan: No      |
| Achilles Therapeutics PLC                                 | Achilles Therapeutics PLC                                                        | CUSIP: 00449L102<br>LEI: 984500FDESEB1BE52A76 | Long             | EC               | CORP              | GB        |        1700 | NS      | $2516.00      | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Entravision Communications Corp                           | Entravision Communications Corp                                                  | CUSIP: 29382R107<br>LEI: 549300SKHY2ALCLKV539 | Long             | EC               | CORP              | US        |         900 | NS      | $2088.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Avalon GloboCare Corp                                     | Avalon GloboCare Corp                                                            | CUSIP: 05344R302<br>LEI: 5493007BO3YMFVCBL210 | Long             | EC               | CORP              | US        |           3 | NS      | $8.34         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Arcos Dorados Holdings Inc                                | Arcos Dorados Holdings Inc                                                       | CUSIP: 000000000<br>LEI: 54930023P2MIZN13DQ85 | Short            | EC               | CORP              | VG        |         -37 | NS      | $-291.93      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| OFS Capital Corp                                          | OFS Capital Corp                                                                 | CUSIP: 67103B100<br>LEI: 549300XTK3HSWPDBJD13 | Long             | EC               | CORP              | US        |        1900 | NS      | $16036.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | TTF NATURAL GAS BASE 743 (FUT STYLE ) MAR 26 50C                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          60 | NC      | $124350.81    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Commercial Metals Co                                      | Commercial Metals Co                                                             | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Short            | EC               | CORP              | US        |       -2300 | NS      | $-112493.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TripAdvisor Inc                                           | TripAdvisor Inc                                                                  | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Short            | EC               | CORP              | US        |       -2300 | NS      | $-30015.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Equity Bancshares Inc                                     | Equity Bancshares Inc                                                            | CUSIP: 29460X109<br>LEI: 549300BPQ2EJNU4WF694 | Long             | EC               | CORP              | US        |         200 | NS      | $8160.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | SOUSD_SOFR_P_6.25_20261007_20251007_LCH                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |    11000000 | NC      | $0.01         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | GAS OIL SEP 25                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -11 | NC      | $-3850.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Wintrust Financial Corp                                   | Wintrust Financial Corp                                                          | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Short            | EC               | CORP              | US        |        -805 | NS      | $-99803.90    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ClearPoint Neuro Inc                                      | ClearPoint Neuro Inc                                                             | CUSIP: 18507C103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1200 | NS      | $-14328.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BX Trust                                                  | BX Commercial Mortgage Trust 2021-MC                                             | CUSIP: 05608GAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $96568.70     | 0.00%             | 2034-04-15      | Floating      | 7.51%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT TWD/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | TW        |           1 | NC      | $-15227.51    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| UL Solutions Inc                                          | UL Solutions Inc                                                                 | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |       48193 | NS      | $3511341.98   | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.467% 10/10/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-10783.65    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| WNS Holdings Ltd                                          | WNS Holdings Ltd                                                                 | CUSIP: 000000000<br>LEI: 529900RM7QHUD3W9DM42 | Short            | EC               | CORP              | JE        |        -500 | NS      | $-31620.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NeuBase Therapeutics Inc                                  | NeuBase Therapeutics Inc                                                         | CUSIP: 64132K201<br>LEI: 529900RHAZB85RGSJZ73 | Short            | EC               | CORP              | US        |         -49 | NS      | $-17.99       | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| British American Tobacco PLC                              | British American Tobacco PLC                                                     | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |       12600 | NS      | $596358.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.5295% 02/28/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $-1362.51     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| AdvanSix Inc                                              | AdvanSix Inc                                                                     | CUSIP: 00773T101<br>LEI: 5493009TPRODMCAZLF67 | Long             | EC               | CORP              | US        |         500 | NS      | $11875.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bryant Park Funding Ltd                                   | Bryant Park Funding 2023-20 Ltd                                                  | CUSIP: 11790AAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1023249.00   | 0.03%             | 2038-04-15      | Floating      | 11.08%                | No            | 2                  | On Loan: No      |
| CoreVest American Finance Ltd                             | Corevest American Finance 2019-3 Trust                                           | CUSIP: 21872NAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1533940 | PA      | $6660.37      | 0.00%             | 2052-10-15      | Variable      | 2.16%                 | No            | 2                  | On Loan: No      |
| ModivCare Inc                                             | ModivCare Inc                                                                    | CUSIP: 60783X104<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | EC               | CORP              | US        |          37 | NS      | $115.44       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Commercial Mortgage Trust                       | Citigroup Commercial Mortgage Trust 2019-GC43                                    | CUSIP: 17328HAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5918000 | PA      | $146109.50    | 0.00%             | 2052-11-10      | Variable      | 0.72%                 | No            | 2                  | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS              | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-3 Trust   | CUSIP: 93936JBE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      465227 | PA      | $426525.29    | 0.01%             | 2037-04-25      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Avantor Inc                                               | Avantor Inc                                                                      | CUSIP: 05352A100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -20500 | NS      | $-275930.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS MAR 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -233 | NC      | $594668.10    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| EQT Corp                                                  | EQT Corp                                                                         | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |       17964 | NS      | $1047660.48   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | Variance Swap - SPX (21.1% - 2025-09-19)                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |       -2017 | OU      | $-170358.21   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| MHP LUX SA                                                | MHP Lux SA                                                                       | CUSIP: 59318YAB4<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |      689000 | PA      | $558835.50    | 0.01%             | 2029-09-19      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| Cimpress PLC                                              | Cimpress PLC                                                                     | CUSIP: 000000000<br>LEI: 549300X1IFD75XISOR81 | Short            | EC               | CORP              | IE        |        -800 | NS      | $-37600.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Southern First Bancshares Inc                             | Southern First Bancshares Inc                                                    | CUSIP: 842873101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $3803.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UMBS, TBA                                                 | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F062689<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   182000000 | PA      | $187637814.00 | 5.00%             | 2054-08-01      | Fixed         | 6.50%                 | No            | N/A                | On Loan: No      |
| Labcorp Holdings Inc                                      | Labcorp Holdings Inc                                                             | CUSIP: 504922105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2400 | NS      | $-630024.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| WMRK Commercial Mortgage Trust                            | WMRK Commercial Mortgage Trust 2022-WMRK                                         | CUSIP: 929342AD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $1005987.00   | 0.03%             | 2027-11-15      | Floating      | 9.24%                 | No            | 2                  | On Loan: No      |
| Mawson Infrastructure Group Inc                           | Mawson Infrastructure Group Inc                                                  | CUSIP: 57778N307<br>LEI: 549300O0BJLT7G4BZ277 | Short            | EC               | CORP              | US        |         -66 | NS      | $-25.09       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | GRUPO FINANCIERO GALICIA-ADR CFD                                                 | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | AR        |    -1860583 | OU      | $50826.49     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Sprinklr Inc                                              | Sprinklr Inc                                                                     | CUSIP: 85208T107<br>LEI: 254900AR04RJ2BQO5S78 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-9306.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| A10 Networks Inc                                          | A10 Networks Inc                                                                 | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |        5300 | NS      | $102555.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pony AI Inc                                               | Pony AI Inc                                                                      | CUSIP: 732908108<br>LEI: 9845006P7613D2A61368 | Short            | EC               | CORP              | KY        |       -4900 | NS      | $-64680.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Micron Technology Inc                                     | Micron Technology Inc                                                            | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Short            | EC               | CORP              | US        |      -25245 | NS      | $-3111446.25  | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| LendingTree Inc                                           | LendingTree Inc                                                                  | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Long             | EC               | CORP              | US        |         300 | NS      | $11121.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | MICROSOFT SWP GS                                                                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |   -51415398 | OU      | $-1207098.13  | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.5499% 04/13/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1300000 | OU      | $1959.10      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| OR Royalties Inc                                          | OR Royalties Inc                                                                 | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |        6300 | NS      | $161973.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.6045% 04/10/2035 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $1786.54      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Crescent Energy Co                                        | Crescent Energy Co                                                               | CUSIP: 44952J104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -6470 | NS      | $-55642.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| PRKCM Trust                                               | PRKCM 2023-AFC2 Trust                                                            | CUSIP: 693964AF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $100872.80    | 0.00%             | 2058-06-25      | Variable      | 8.05%                 | No            | N/A                | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | TWFG INC CFD                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     -298342 | OU      | $-1468.25     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Axos Financial Inc                                        | Axos Financial Inc                                                               | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Short            | EC               | CORP              | US        |      -46610 | NS      | $-3544224.40  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | S&P 500 INDEX 06/30/25 5300P                                                     | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |       -2294 | NC      | $-6882.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |      200000 | PA      | $180889.94    | 0.00%             | 2043-02-11      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| Ligand Pharmaceuticals Inc                                | Ligand Pharmaceuticals Inc                                                       | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Short            | EC               | CORP              | US        |        -100 | NS      | $-11368.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| KalVista Pharmaceuticals Inc                              | KalVista Pharmaceuticals Inc                                                     | CUSIP: 483497103<br>LEI: 529900Q7IDA3WUGRZA51 | Short            | EC               | CORP              | US        |       -4100 | NS      | $-46350.56    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MSA Safety Inc                                            | MSA Safety Inc                                                                   | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Short            | EC               | CORP              | US        |         -99 | NS      | $-16585.47    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Shell PLC                                                 | Shell PLC                                                                        | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |       12031 | NS      | $847102.71    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Compugen Ltd                                              | Compugen Ltd                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |        4000 | NS      | $7120.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | TTF NATURAL GAS BASE LOAD (FUTURES STYL JAN 26 50C                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          60 | NC      | $94860.97     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Novagold Resources Inc                                    | Novagold Resources Inc                                                           | CUSIP: 66987E206<br>LEI: 529900587LVZTJ2BHS60 | Short            | EC               | CORP              | CA        |       -1000 | NS      | $-4090.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Albemarle Corp                                            | Albemarle Corp                                                                   | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |         200 | NS      | $12534.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tourmaline Bio Inc                                        | Tourmaline Bio Inc                                                               | CUSIP: 89157D105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -430 | NS      | $-6875.70     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Onestream Inc                                             | Onestream Inc                                                                    | CUSIP: 68278B107<br>LEI: 254900CRBCHIYDC37W82 | Long             | EC               | CORP              | US        |       89787 | NS      | $2540972.10   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Rezolute Inc                                              | Rezolute Inc                                                                     | CUSIP: 76200L309<br>LEI: 549300T05L48T72P2G08 | Short            | EC               | CORP              | US        |       -1500 | NS      | $-6690.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Global Markets, Inc.                            | Citigroup Global Markets, Inc.                                                   | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | RA               | CORP              | US        |     1299110 | PA      | $1299110.50   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Koninklijke Ahold Delhaize NV                             | Koninklijke Ahold Delhaize NV                                                    | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Short            | EC               | CORP              | NL        |       -1228 | NS      | $-51289.15    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | WTI CRUDE FUTURE  Jun26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          10 | NC      | $-800.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Oxford Square Capital Corp                                | Oxford Square Capital Corp                                                       | CUSIP: 69181V107<br>LEI: 549300EGQH8WWU1U6Q06 | Long             | EC               | CORP              | US        |       10100 | NS      | $22523.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UZBEKISTAN INTL BOND                                      | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     5316000 | PA      | $6417028.87   | 0.17%             | 2027-05-29      | Fixed         | 5.38%                 | Yes           | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) NOV 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          58 | NC      | $-207678.59   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| North American Construction Group Ltd                     | North American Construction Group Ltd                                            | CUSIP: 656811106<br>LEI: 549300DQ6060LO4XGI15 | Long             | EC               | CORP              | CA        |        1600 | NS      | $25568.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.NA.HY.44 USD 500 Jun 2030 Morgan 5%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    10100000 | OU      | $-772455.86   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| 10X Genomics Inc                                          | 10X Genomics Inc                                                                 | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |       24700 | NS      | $286026.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT SEP26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         720 | NC      | $818912.70    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Absci Corp                                                | Absci Corp                                                                       | CUSIP: 00091E109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        9200 | NS      | $23644.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | NASDAQ 100 E-MINI Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |         -47 | NC      | $-696791.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| CBB International Sukuk Programme Co. WLL                 | CBB International Sukuk Programme Co. WLL                                        | CUSIP: 000000000<br>LEI: 5493006IRJ2IWXTNIM16 | Short            | DBT              | NUSS              | BH        |    -4050000 | PA      | $-4091350.50  | -0.11%            | 2031-02-12      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| Salesforce Inc                                            | Salesforce Inc                                                                   | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       48900 | NS      | $13334541.00  | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR S&P 500 ETF Trust                                    | SPDR S&P 500 ETF Trust                                                           | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Short            | EC               | RF                | US        |      -30774 | NS      | $-19013715.90 | -0.51%            |  |  |  | No            | 1                  | On Loan: No      |
| Baldwin Insurance Group Inc/The                           | Baldwin Insurance Group Inc/The                                                  | CUSIP: 05589G102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-17124.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intuit Inc                                                | Intuit Inc                                                                       | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |         400 | NS      | $315052.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Xiao I Corp                                               | Xiao I Corp                                                                      | CUSIP: 98423X209<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -1200 | NS      | $-3432.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137F6TF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     9934277 | PA      | $2420675.30   | 0.06%             | 2048-10-25      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Siemens Healthineers AG                                   | Siemens Healthineers AG                                                          | CUSIP: 000000000<br>LEI: 529900QBVWXMWANH7H45 | Short            | EC               | CORP              | DE        |       -1663 | NS      | $-92320.32    | -0.00%            |  |  |  | Yes           | 1                  | On Loan: No      |
| CIMG Inc                                                  | CIMG Inc                                                                         | CUSIP: 67073S307<br>LEI: 549300TVHCHY3640I014 | Short            | EC               | CORP              | US        |        -100 | NS      | $-28.00       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Structured Asset Mortgage Investments Inc                 | Structured Asset Mortgage Investments II Trust 2007-AR1                          | CUSIP: 86362XAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      393569 | PA      | $430835.27    | 0.01%             | 2037-01-25      | Floating      | 4.85%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    22300000 | OU      | $547396.85    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| ARES CLO Ltd                                              | Ares LIV CLO Ltd                                                                 | CUSIP: 04017XAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1000000.00   | 0.03%             | 2038-07-15      | Floating      | 0.00%                 | No            | N/A                | On Loan: No      |
| Shattuck Labs Inc                                         | Shattuck Labs Inc                                                                | CUSIP: 82024L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1700 | NS      | $1346.05      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT JUN 29                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -10 | NC      | $-1212.50     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Frontline PLC                                             | Frontline PLC                                                                    | CUSIP: 000000000<br>LEI: 5493004BCIKYU1YL3H63 | Short            | EC               | CORP              | CY        |        -300 | NS      | $-4923.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.510645% 02/18/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -500000 | OU      | $-37087.97    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Rigel Pharmaceuticals Inc                                 | Rigel Pharmaceuticals Inc                                                        | CUSIP: 766559702<br>LEI: 529900KPTNUS5J8K9K66 | Long             | EC               | CORP              | US        |         990 | NS      | $18542.70     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ryde Group Ltd                                            | Ryde Group Ltd                                                                   | CUSIP: 000000000<br>LEI: 875500VU79UFY3DY1662 | Short            | EC               | CORP              | KY        |       -4291 | NS      | $-1287.30     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT HUF/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | HU        |           1 | NC      | $27741.62     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Trust 2012-GCJ9                                           | CUSIP: 36192PAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      165512 | PA      | $153441.14    | 0.00%             | 2045-11-10      | Variable      | 4.74%                 | No            | 2                  | On Loan: No      |
| Sonos Inc                                                 | Sonos Inc                                                                        | CUSIP: 83570H108<br>LEI: 549300WEPU6075I77M08 | Long             | EC               | CORP              | US        |         400 | NS      | $4324.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COLT Funding LLC                                          | COLT 2021-RPL1 Trust                                                             | CUSIP: 12598PAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      446000 | PA      | $337394.09    | 0.01%             | 2061-09-25      | Variable      | 4.56%                 | No            | 2                  | On Loan: No      |
| AvidXchange Holdings Inc                                  | AvidXchange Holdings Inc                                                         | CUSIP: 05368X102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3300 | NS      | $-32307.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Home Loans                                    | CHL Mortgage Pass-Through Trust 2004-25                                          | CUSIP: 12669GJZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      401190 | PA      | $384515.16    | 0.01%             | 2035-02-25      | Floating      | 5.21%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT SEK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | SE        |           1 | NC      | $3636.92      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | DJIA MINI e-CBOT  Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               |  | US        |          49 | NC      | $421247.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| 3D Systems Corp                                           | 3D Systems Corp                                                                  | CUSIP: 88554D205<br>LEI: 5493003HHDOCCW4OP744 | Long             | EC               | CORP              | US        |       22500 | NS      | $34650.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| L3Harris Technologies Inc                                 | L3Harris Technologies Inc                                                        | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |        2918 | NS      | $731951.12    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT MAR 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $138775.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| NEW MILLENNIUM HOLDCO INC                                 | New Millennium HoldCo Inc 2020 Term Loan                                         | CUSIP: 55304HAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      915860 | PA      | $915859.98    | 0.02%             | 2026-05-14      | Floating      | 9.83%                 | No            | 3                  | On Loan: No      |
| Multifamily Structured Credit Risk                        | Freddie Mac Multifamily Structured Credit Risk                                   | CUSIP: 35563JAB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      128000 | PA      | $126714.11    | 0.00%             | 2041-07-25      | Floating      | 7.66%                 | No            | 2                  | On Loan: No      |
| Hawaiian Electric Industries Inc                          | Hawaiian Electric Industries Inc                                                 | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |         800 | NS      | $8504.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Byline Bancorp Inc                                        | Byline Bancorp Inc                                                               | CUSIP: 124411109<br>LEI: 549300W7ODP4YL2H4823 | Long             | EC               | CORP              | US        |        1000 | NS      | $26730.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TAL Education Group                                       | TAL Education Group                                                              | CUSIP: 874080104<br>LEI: 5493003PJZS0EC085V72 | Short            | EC               | CORP              | KY        |       -3400 | NS      | $-34748.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Silence Therapeutics PLC                                  | Silence Therapeutics PLC                                                         | CUSIP: 82686Q101<br>LEI: 213800SSURRJBX85SQ91 | Long             | EC               | CORP              | GB        |        1600 | NS      | $9280.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Astera Labs Inc                                           | Astera Labs Inc                                                                  | CUSIP: 04626A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4300 | NS      | $388806.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Global Ship Lease Inc                                     | Global Ship Lease Inc                                                            | CUSIP: 000000000<br>LEI: 254900GLZ0J5N8UZM071 | Long             | EC               | CORP              | MH        |        8300 | NS      | $218373.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nova Ltd                                                  | Nova Ltd                                                                         | CUSIP: 000000000<br>LEI: 529900B2DSWE5V3SC292 | Long             | EC               | CORP              | IL        |         300 | NS      | $82560.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| NovaBay Pharmaceuticals Inc                               | NovaBay Pharmaceuticals Inc                                                      | CUSIP: 66987P409<br>LEI: 549300D5U7PQPNEX8Q38 | Long             | EC               | CORP              | US        |          31 | NS      | $17.98        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Aviat Networks Inc                                        | Aviat Networks Inc                                                               | CUSIP: 05366Y201<br>LEI: 549300Z3X8Z4MK52CI65 | Long             | EC               | CORP              | US        |         100 | NS      | $2405.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.440934% 03/01/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      300000 | OU      | $16321.65     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | EUX - VSTOXX MINI INDEX FUT JUL 25                                               | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |         -65 | NC      | $10974.69     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Piper Sandler Cos                                         | Piper Sandler Cos                                                                | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |       15455 | NS      | $4295562.70   | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Soleno Therapeutics Inc                                   | Soleno Therapeutics Inc                                                          | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Short            | EC               | CORP              | US        |       -6900 | NS      | $-578082.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Pliant Therapeutics Inc                                   | Pliant Therapeutics Inc                                                          | CUSIP: 729139105<br>LEI: 5493002Q5LITR7VHZH02 | Long             | EC               | CORP              | US        |        7500 | NS      | $8700.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| IVORY COAST                                               | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     4837000 | PA      | $4845260.91   | 0.13%             | 2028-03-03      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| FutureFuel Corp                                           | FutureFuel Corp                                                                  | CUSIP: 36116M106<br>LEI: 529900WYQZSMWFXLA845 | Long             | EC               | CORP              | US        |        4000 | NS      | $15520.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137H74D2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1000000 | PA      | $168392.00    | 0.00%             | 2050-04-25      | Variable      | 3.25%                 | No            | 2                  | On Loan: No      |
| Dollar General Corp                                       | Dollar General Corp                                                              | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |        8900 | NS      | $1017982.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE NOV 25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -55 | NC      | $-7380.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| First Horizon Alternative Mortgage Securities             | First Horizon Alternative Mortgage Securities Trust 2007-FA2                     | CUSIP: 32053LAB8<br>LEI: 549300PO80CHJL6XUB79 | Long             | ABS-MBS          | CORP              | US        |      952636 | PA      | $228808.82    | 0.01%             | 2037-04-25      | Floating      | 4.98%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.1462% 12/06/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-19647.81    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Predictive Oncology Inc                                   | Predictive Oncology Inc                                                          | CUSIP: 74039M309<br>LEI: 549300UQE748N2H9LE74 | Short            | EC               | CORP              | US        |         -23 | NS      | $-19.09       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT DEC 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $116925.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| HSBC Bank PLC                                             | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |           1 | NC      | $-40276.95    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Arrowhead Pharmaceuticals Inc                             | Arrowhead Pharmaceuticals Inc                                                    | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |        7600 | NS      | $120080.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Allarity Therapeutics Inc                                 | Allarity Therapeutics Inc                                                        | CUSIP: 016744500<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5100 | NS      | $-5151.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ProQR Therapeutics NV                                     | ProQR Therapeutics NV                                                            | CUSIP: 000000000<br>LEI: 549300NGS2FJGGDBGS06 | Long             | EC               | CORP              | NL        |        4000 | NS      | $8160.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE OCT 25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |        -404 | NC      | $1485075.60   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Niagen Bioscience Inc                                     | Niagen Bioscience Inc                                                            | CUSIP: 171077407<br>LEI: 529900OPI7B8JPXCVS70 | Short            | EC               | CORP              | US        |        -800 | NS      | $-11528.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Mercantile Bank Corp                                      | Mercantile Bank Corp                                                             | CUSIP: 587376104<br>LEI: P16VZZCKTJ5IONL6XE37 | Long             | EC               | CORP              | US        |         300 | NS      | $13923.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Board of Trade                                   | COTTON 1 DEC 25                                                                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         585 | NC      | $17330.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Hanmi Financial Corp                                      | Hanmi Financial Corp                                                             | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |        2200 | NS      | $54296.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.333% 08/24/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    -1300000 | OU      | $24911.09     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| TURK TELEKOMUNIKASYON AS                                  | Turk Telekomunikasyon AS                                                         | CUSIP: 000000000<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |     7014000 | PA      | $7154658.75   | 0.19%             | 2029-05-20      | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: No      |
| Citigroup Global Markets Ltd.                             | PING AN INSURANCE GROUP CO-H CFD                                                 | CUSIP: 000000000<br>LEI: XKZZ2JZF41MRHTR1V493 | N/A              | DE               |  | CN        |    -3253750 | OU      | $-22764.12    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Upwork Inc                                                | Upwork Inc                                                                       | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | EC               | CORP              | US        |       19200 | NS      | $258048.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| KIRKOSWALD GLOBAL                                         | KIRKOSWALD GLOBAL CLASS E SERIES 2022-10-01                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      476987 | NS      | $52426581.20  | 1.40%             |  |  |  | No            | N/A                | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                     | Wells Fargo Commercial Mortgage Trust 2016-LC24                                  | CUSIP: 95000HAL6<br>LEI: 5493007OD9MH69ES1S63 | Long             | ABS-MBS          | CORP              | US        |     4253000 | PA      | $3690502.48   | 0.10%             | 2049-10-15      | Fixed         | 3.21%                 | No            | 2                  | On Loan: No      |
| Camping World Holdings Inc                                | Camping World Holdings Inc                                                       | CUSIP: 13462K109<br>LEI: 549300E828QQI7MWI432 | Long             | EC               | CORP              | US        |        6300 | NS      | $108297.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  JUN26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-446977.36   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Ardagh Metal Packaging SA                                 | Ardagh Metal Packaging SA                                                        | CUSIP: 000000000<br>LEI: 5493009WKQTU4FN9G032 | Long             | EC               | CORP              | LU        |        4800 | NS      | $20544.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COLT Funding LLC                                          | COLT 2025-1                                                                      | CUSIP: 196920AG7<br>LEI: 21380069FFOP8RZNF423 | Long             | ABS-MBS          | CORP              | US        |      627000 | PA      | $613105.68    | 0.02%             | 2070-01-25      | Variable      | 7.15%                 | No            | 2                  | On Loan: No      |
| Viasat Inc                                                | Viasat Inc                                                                       | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |        7200 | NS      | $105120.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Jun 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     1900000 | OU      | $30174.91     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Exact Sciences Corp                                       | Exact Sciences Corp                                                              | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Short            | EC               | CORP              | US        |      -26700 | NS      | $-1418838.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  JUN27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $-94472.88    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TMC the metals co Inc                                     | TMC the metals co Inc                                                            | CUSIP: 87261Y106<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |      -20800 | NS      | $-137280.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2005-76                                                   | CUSIP: 12668BDD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1544180 | PA      | $1316797.76   | 0.04%             | 2036-01-25      | Floating      | 6.40%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD SEK/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-1607.58     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Berkshire Hathaway Inc                                    | Berkshire Hathaway Inc                                                           | CUSIP: 084670108<br>LEI: 5493000C01ZX7D35SD85 | Short            | EC               | CORP              | US        |          -1 | NS      | $-728800.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| NEO-CONCEPT INTL GROUP HLD-A                              | Neo-Concept International Group Holdings Ltd.                                    | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |          -7 | NS      | $-15.82       | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| AMETEK Inc                                                | AMETEK Inc                                                                       | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |       90000 | NS      | $16286400.00  | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Booz Allen Hamilton Holding Corp                          | Booz Allen Hamilton Holding Corp                                                 | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Short            | EC               | CORP              | US        |        -296 | NS      | $-30822.48    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NexGen Energy Ltd                                         | NexGen Energy Ltd                                                                | CUSIP: 65340P106<br>LEI: 529900N0IXNXB3IP7F06 | Short            | EC               | CORP              | CA        |      -36400 | NS      | $-252616.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Elbit Systems Ltd                                         | Elbit Systems Ltd                                                                | CUSIP: 000000000<br>LEI: 529900Q9CB1REUMZSS32 | Long             | EC               | CORP              | IL        |        4491 | NS      | $2018704.50   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity National Financial Inc                           | Fidelity National Financial Inc                                                  | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |         200 | NS      | $11212.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/25 55P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |        -105 | NC      | $-7350.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  OCT25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          28 | NC      | $86391.84     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Stoneridge Inc                                            | Stoneridge Inc                                                                   | CUSIP: 86183P102<br>LEI: PNBCIH9LE7WI83VJIF08 | Long             | EC               | CORP              | US        |        1300 | NS      | $9152.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TWFG Inc                                                  | TWFG Inc                                                                         | CUSIP: 87318A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        9066 | NS      | $317310.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                     | Wells Fargo Commercial Mortgage Trust 2015-NXS4                                  | CUSIP: 94989XBL8<br>LEI: 549300RD723OFH36TP29 | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $96766.30     | 0.00%             | 2048-12-15      | Variable      | 3.83%                 | No            | 2                  | On Loan: No      |
| ZTO Express Cayman Inc                                    | ZTO Express Cayman Inc                                                           | CUSIP: 98980A105<br>LEI: 549300SCJPK3YZJTJR78 | Short            | EC               | CORP              | KY        |       -8000 | NS      | $-142000.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | CSAIL 2019-C18 Commercial Mortgage Trust                                         | CUSIP: 12597DAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4452333 | PA      | $229090.34    | 0.01%             | 2052-12-15      | Variable      | 1.54%                 | No            | 2                  | On Loan: No      |
| NetScout Systems Inc                                      | NetScout Systems Inc                                                             | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |        2800 | NS      | $69468.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| NANO Nuclear Energy Inc                                   | NANO Nuclear Energy Inc                                                          | CUSIP: 63010H108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5300 | NS      | $-182797.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Superior Group of Cos Inc                                 | Superior Group of Cos Inc                                                        | CUSIP: 868358102<br>LEI: UOX145EEO0TB0ZWX2152 | Long             | EC               | CORP              | US        |         200 | NS      | $2060.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Universal Electronics Inc                                 | Universal Electronics Inc                                                        | CUSIP: 913483103<br>LEI: 549300ZW9EULAR7T6F89 | Long             | EC               | CORP              | US        |        1200 | NS      | $7944.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| American Electric Power Co Inc                            | American Electric Power Co Inc                                                   | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |       20652 | NS      | $2142851.52   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Avis Budget Group Inc                                     | Avis Budget Group Inc                                                            | CUSIP: 053774105<br>LEI: 529900E95812SYWMCE44 | Long             | EC               | CORP              | US        |        2100 | NS      | $355005.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Gilead Sciences Inc                                       | Gilead Sciences Inc                                                              | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Short            | EC               | CORP              | US        |      -14200 | NS      | $-1574354.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    10000000 | OU      | $245469.44    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Shift4 Payments Inc                                       | Shift4 Payments Inc                                                              | CUSIP: 82452J109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -9200 | NS      | $-911812.00   | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Wingstop Inc                                              | Wingstop Inc                                                                     | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Short            | EC               | CORP              | US        |       -1500 | NS      | $-505110.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| General Motors Co                                         | General Motors Co                                                                | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |       21995 | NS      | $1082373.95   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy SOAF SNRFOR USD 100 Jun 2030 GOLD_ISDA 1%                                    | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | ZA        |     5900000 | OU      | $222657.00    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Navient Corp                                              | Navient Corp                                                                     | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               | CORP              | US        |         600 | NS      | $8460.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| HarborView Mortgage Loan Trust                            | HarborView Mortgage Loan Trust 2005-10                                           | CUSIP: 41161PTP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      991257 | PA      | $662847.53    | 0.02%             | 2035-11-19      | Floating      | 5.19%                 | No            | 2                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | S&P 500 INDEX 06/30/25 5600P                                                     | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |        2294 | NC      | $11470.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% SEP 25 85P                                                      | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |         -84 | NC      | $-3948.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| RR Ltd                                                    | RR 32 LTD /old                                                                   | CUSIP: 75009EAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1011598.00   | 0.03%             | 2039-10-15      | Floating      | 10.36%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.09355% 12/27/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-4620.28     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Actinium Pharmaceuticals Inc                              | Actinium Pharmaceuticals Inc                                                     | CUSIP: 00507W206<br>LEI: 549300LCY1NZSXCQDT45 | Short            | EC               | CORP              | US        |        -186 | NS      | $-260.40      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | S&P 500 INDEX 09/19/25 5335.87P OTC-E                                            | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |        7576 | NC      | $41266.22     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Inspirato Inc                                             | Inspirato Inc                                                                    | CUSIP: 45791E206<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -29 | NS      | $-99.18       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nature's Sunshine Products Inc                            | Nature's Sunshine Products Inc                                                   | CUSIP: 639027101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $7395.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Commercial Mortgage Trust                       | Citigroup Commercial Mortgage Trust 2012-GC8                                     | CUSIP: 17318UAH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       91143 | PA      | $85879.57     | 0.00%             | 2045-09-10      | Variable      | 5.29%                 | No            | 2                  | On Loan: No      |
| Range Resources Corp                                      | Range Resources Corp                                                             | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Short            | EC               | CORP              | US        |       -7541 | NS      | $-306692.47   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | HINGE HEALTH INC-A CFD                                                           | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |    -1957664 | OU      | $-258892.11   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| THAMES WATER UTIL LTD                                     | THAMES WATER UTIL LTD 0.0 03/22/27 144.                                          | CUSIP: 000000000<br>LEI: 213800JKM5UQHFJOTZ25 | Long             | DBT              | NUSS              | GB        |       45204 | PA      | $51753.93     | 0.00%             | 2027-03-22      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Upstart Securitization Trust                              | Upstart Securitization Trust 2025-1                                              | CUSIP: 91684PAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1415000 | PA      | $1487455.08   | 0.04%             | 2035-04-20      | Fixed         | 9.27%                 | No            | 2                  | On Loan: No      |
| Stellus Capital Investment Corp                           | Stellus Capital Investment Corp                                                  | CUSIP: 858568108<br>LEI: 5493001DZV6QC1KUSC43 | Long             | EC               | CORP              | US        |        3900 | NS      | $54366.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Canada Goose Holdings Inc                                 | Canada Goose Holdings Inc                                                        | CUSIP: 135086106<br>LEI: 529900891XBE6RV8JR07 | Long             | EC               | CORP              | CA        |         300 | NS      | $3357.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Taurus CMBS                                               | TAURS 2025-UK3A E FLOAT 07/20/35                                                 | CUSIP: 000000000<br>LEI: 6354001CXJE7XMMVG324 | Long             | ABS-MBS          | CORP              | IE        |      284000 | PA      | $389832.60    | 0.01%             | 2035-07-20      | Floating      | 0.00%                 | No            | N/A                | On Loan: No      |
| Akanda Corp                                               | Akanda Corp                                                                      | CUSIP: 00971M403<br>LEI: 549300WWGNIP0LEI8324 | Long             | EC               | CORP              | CA        |           3 | NS      | $4.20         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1720648 | PA      | $1720648.29   | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Avidity Biosciences Inc                                   | Avidity Biosciences Inc                                                          | CUSIP: 05370A108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4600 | NS      | $-130640.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| OppFi Inc                                                 | OppFi Inc                                                                        | CUSIP: 68386H103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6200 | NS      | $86738.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Weber-Stephen Products LLC                                | Weber-Stephen Products LLC 2022 Incremental Term Loan B                          | CUSIP: 94767KAP6<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |      263779 | PA      | $262526.32    | 0.01%             | 2027-10-30      | Floating      | 8.68%                 | No            | 2                  | On Loan: No      |
| Pikes Peak CLO                                            | Pikes Peak CLO 8                                                                 | CUSIP: 72133DAE0<br>LEI: 549300NJA5BS4BQQJL72 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1002430.00   | 0.03%             | 2038-01-20      | Floating      | 10.02%                | No            | 2                  | On Loan: No      |
| Lightspeed Commerce Inc                                   | Lightspeed Commerce Inc                                                          | CUSIP: 53229C107<br>LEI: 254900T8MDWRTGMFZ257 | Short            | EC               | CORP              | CA        |       -8300 | NS      | $-97193.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.396% 01/25/2027 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     2900000 | OU      | $47567.43     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Universal Corp/VA                                         | Universal Corp/VA                                                                | CUSIP: 913456109<br>LEI: 549300BZXZ66F6DTIF20 | Long             | EC               | CORP              | US        |        1900 | NS      | $110656.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CHF CURRENCY FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |          32 | NC      | $90918.75     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| W&T Offshore Inc                                          | W&T Offshore Inc                                                                 | CUSIP: 92922P106<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | EC               | CORP              | US        |       22500 | NS      | $37125.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Alkami Technology Inc                                     | Alkami Technology Inc                                                            | CUSIP: 01644J108<br>LEI: 254900FCNYU4HNEV9L47 | Long             | EC               | CORP              | US        |        9374 | NS      | $282532.36    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Comerica Inc                                              | Comerica Inc                                                                     | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |      261685 | NS      | $15609510.25  | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2005-69                                                   | CUSIP: 12668AN35<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      253931 | PA      | $254314.46    | 0.01%             | 2035-12-25      | Floating      | 6.10%                 | No            | 2                  | On Loan: No      |
| Alnylam Pharmaceuticals Inc                               | Alnylam Pharmaceuticals Inc                                                      | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |        2800 | NS      | $913052.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Metalla Royalty & Streaming Ltd                           | Metalla Royalty & Streaming Ltd                                                  | CUSIP: 59124U605<br>LEI: 549300RPR0O774QEKV20 | Long             | EC               | CORP              | CA        |        1500 | NS      | $5760.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CONTRA TECTONIC THERAP                                    | CONTRA TECTONIC THERAP                                                           | CUSIP: 878CVR018<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         450 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| CoStar Group Inc                                          | CoStar Group Inc                                                                 | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Short            | EC               | CORP              | US        |       -2719 | NS      | $-218607.60   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Ross Stores Inc                                           | Ross Stores Inc                                                                  | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-153096.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cedar Funding Ltd                                         | Cedar Funding XVII CLO Ltd                                                       | CUSIP: 15033QAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $997478.00    | 0.03%             | 2036-07-20      | Floating      | 12.43%                | No            | 2                  | On Loan: No      |
| Chevron Corp                                              | Chevron Corp                                                                     | CUSIP: 166764100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -17803 | NS      | $-2549211.57  | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| Waystar Holding Corp                                      | Waystar Holding Corp                                                             | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      143894 | NS      | $5880947.78   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  FEB27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $441747.12    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD AUD/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-36946.79    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Infineon Technologies AG                                  | Infineon Technologies AG                                                         | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |        5428 | NS      | $231623.69    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Meritage Homes Corp                                       | Meritage Homes Corp                                                              | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |         200 | NS      | $13394.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Masco Corp                                                | Masco Corp                                                                       | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Short            | EC               | CORP              | US        |       -1679 | NS      | $-108060.44   | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT OCT26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         744 | NC      | $944789.74    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Tiziana Life Sciences Ltd                                 | Tiziana Life Sciences Ltd                                                        | CUSIP: 000000000<br>LEI: 984500769407C5E46F42 | Short            | EC               | CORP              | BM        |        -500 | NS      | $-790.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Kite Realty Group Trust                                   | Kite Realty Group Trust                                                          | CUSIP: 49803T300<br>LEI: N/A                  | Short            | EC               |  | US        |       -7400 | NS      | $-167610.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Tactile Systems Technology Inc                            | Tactile Systems Technology Inc                                                   | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |         800 | NS      | $8112.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.6973% 10/24/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $4860.17      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Cherry Hill Mortgage Investment Corp                      | Cherry Hill Mortgage Investment Corp                                             | CUSIP: 164651101<br>LEI: 254900SBI2EPU32HAT29 | Long             | EC               |  | US        |        3500 | NS      | $9555.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.279323% 02/25/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -800000 | OU      | $-7474.59     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                | JPMBB Commercial Mortgage Securities Trust 2014-C26                              | CUSIP: 46643TBG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      642000 | PA      | $615695.33    | 0.02%             | 2048-01-15      | Variable      | 4.31%                 | No            | 2                  | On Loan: No      |
| RLJ Lodging Trust                                         | RLJ Lodging Trust                                                                | CUSIP: 74965L101<br>LEI: N/A                  | Short            | EC               |  | US        |        -500 | NS      | $-3640.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NEXTracker Inc                                            | NEXTracker Inc                                                                   | CUSIP: 65290E101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -20096 | NS      | $-1092619.52  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    19500000 | OU      | $478665.43    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT SEK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | SE        |           1 | NC      | $9031.41      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS SWAP SEP 25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -28 | NC      | $29560.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN MAY 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $6900.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division          | ICE 3MTH SONIA MAR 26                                                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              |  | US        |       -1306 | NC      | $-421870.25   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT JUL27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $2325.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Teledyne Technologies Inc                                 | Teledyne Technologies Inc                                                        | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |       34200 | NS      | $17521002.00  | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Towd Point Mortgage Trust                                 | Towd Point Mortgage Trust                                                        | CUSIP: 89182FAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3644000 | PA      | $3732760.55   | 0.10%             | 2063-10-25      | Variable      | 8.08%                 | No            | 2                  | On Loan: No      |
| Scilex Holding Co                                         | Scilex Holding Co                                                                | CUSIP: 80880W205<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -318 | NS      | $-1873.02     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Velocity Commercial Capital Loan Trust                    | Velocity Commercial Capital Loan Trust 2023-3                                    | CUSIP: 92258WAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      222422 | PA      | $228285.08    | 0.01%             | 2053-08-25      | Variable      | 8.27%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | GS SPE1.GSPB.CFD                                                                 | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | JP        |  -331033417 | OU      | $-26744.54    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| GLS Auto Receivables Trust                                | GLS Auto Receivables Issuer Trust 2024-4                                         | CUSIP: 36270YAN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1666000 | PA      | $1720818.06   | 0.05%             | 2031-08-15      | Fixed         | 7.51%                 | No            | 2                  | On Loan: No      |
| Hain Celestial Group Inc/The                              | Hain Celestial Group Inc/The                                                     | CUSIP: 405217100<br>LEI: 5493000S8QXWHLIXDP75 | Long             | EC               | CORP              | US        |       21100 | NS      | $32072.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| F&G Annuities & Life Inc                                  | F&G Annuities & Life Inc                                                         | CUSIP: 30190A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         800 | NS      | $25584.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |     1284296 | PA      | $1284295.51   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS SWAP AUG 25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -28 | NC      | $31940.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Anavex Life Sciences Corp                                 | Anavex Life Sciences Corp                                                        | CUSIP: 032797300<br>LEI: 549300K1I5L8COCQ8W36 | Long             | EC               | CORP              | US        |       12800 | NS      | $118016.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Lloyds Banking Group PLC                                  | Lloyds Banking Group PLC                                                         | CUSIP: 539439109<br>LEI: 549300PPXHEU2JF0AM85 | Short            | EC               | CORP              | GB        |      -85200 | NS      | $-362100.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Angel Oak Mortgage Trust                                  | Angel Oak Mortgage Trust 2021-8                                                  | CUSIP: 03465MAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      109000 | PA      | $87160.43     | 0.00%             | 2066-11-25      | Variable      | 4.11%                 | No            | 2                  | On Loan: No      |
| BX Trust                                                  | BX Trust 2018-GW                                                                 | CUSIP: 12433UAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      106000 | PA      | $105846.94    | 0.00%             | 2035-05-15      | Floating      | 7.03%                 | No            | 2                  | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-USDCNH(USD) 10/08/25 7.65C                                                    | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DFE              |  | US        |   -10000000 | OU      | $-1926.10     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 45C                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        1100 | NC      | $182600.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rad CLO Ltd                                               | Rad CLO 9 Ltd                                                                    | CUSIP: 75010FAA4<br>LEI: 254900102FXSL1683637 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $980676.00    | 0.03%             | 2038-01-15      | Floating      | 10.01%                | No            | 2                  | On Loan: No      |
| New York Board of Trade                                   | SUGAR (112000) OCT 25                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        -264 | NC      | $170873.47    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Motorcar Parts of America Inc                             | Motorcar Parts of America Inc                                                    | CUSIP: 620071100<br>LEI: 549300AG4610OSV3H429 | Long             | EC               | CORP              | US        |         800 | NS      | $8960.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT Dec27                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -38 | NC      | $-32875.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Primega Group Holdings Ltd                                | Primega Group Holdings Ltd                                                       | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -100 | NS      | $-78.31       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS MAR 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          43 | NC      | $-169730.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.09475% 01/02/2035 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      300000 | OU      | $-9921.02     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| ARES Commercial Mortgage Trust                            | ARES Trust 2025-IND3                                                             | CUSIP: 039955AL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $1001197.00   | 0.03%             | 2042-04-15      | Floating      | 7.86%                 | No            | 2                  | On Loan: No      |
| AMN Healthcare Services Inc                               | AMN Healthcare Services Inc                                                      | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |        2800 | NS      | $57876.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | FORT BAKER ALPHASWAP                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |   161657759 | OU      | $1489861.44   | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Nucor Corp                                                | Nucor Corp                                                                       | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-142494.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.9791% 08/21/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -300000 | OU      | $1281.38      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD ZAR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-15188.25    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| MSCI Inc                                                  | MSCI Inc                                                                         | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |       11700 | NS      | $6747858.00   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Autolus Therapeutics PLC                                  | Autolus Therapeutics PLC                                                         | CUSIP: 05280R100<br>LEI: 549300C0KZP8EYROLL02 | Short            | EC               | CORP              | GB        |       -1100 | NS      | $-2508.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Latham Group Inc                                          | Latham Group Inc                                                                 | CUSIP: 51819L107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1800 | NS      | $-11484.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lightbridge Corp                                          | Lightbridge Corp                                                                 | CUSIP: 53224K302<br>LEI: 5493005PY54DR0JRCW56 | Long             | EC               | CORP              | US        |         100 | NS      | $1337.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Redfin Corp                                               | Redfin Corp                                                                      | CUSIP: 75737F108<br>LEI: 549300HXWD3JEMZU3O57 | Long             | EC               | CORP              | US        |       11600 | NS      | $129804.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ur-Energy Inc                                             | Ur-Energy Inc                                                                    | CUSIP: 91688R108<br>LEI: 5493004ZEMNWEC7T6X93 | Short            | EC               | CORP              | CA        |      -70200 | NS      | $-73710.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.4435% 01/09/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-8410.16     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-254.87      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      556862 | PA      | $556862.14    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      296310 | PA      | $296310.03    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT  OCT25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -58 | NC      | $62715.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rallybio Corp                                             | Rallybio Corp                                                                    | CUSIP: 75120L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1200 | NS      | $405.62       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| NETGEAR Inc                                               | NETGEAR Inc                                                                      | CUSIP: 64111Q104<br>LEI: 54930067KX3UNRHDWA78 | Short            | EC               | CORP              | US        |       -2000 | NS      | $-58140.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Relay Therapeutics Inc                                    | Relay Therapeutics Inc                                                           | CUSIP: 75943R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       19700 | NS      | $68162.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.7924% 03/11/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -500000 | OU      | $7194.35      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT MXN/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | MX        |           1 | NC      | $12427.09     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-2CB                                                  | CUSIP: 02149HAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      550749 | PA      | $217658.03    | 0.01%             | 2037-03-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN FEB 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-15660.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Payoneer Global Inc                                       | Payoneer Global Inc                                                              | CUSIP: 70451X104<br>LEI: 984500491C64C70FF033 | Long             | EC               | CORP              | US        |       38400 | NS      | $263040.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT APR 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-6525.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hubbell Inc                                               | Hubbell Inc                                                                      | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Short            | EC               | CORP              | US        |        -400 | NS      | $-163364.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Progressive Corp/The                                      | Progressive Corp/The                                                             | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |         660 | NS      | $176127.60    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Taurus CMBS Trust 2020-NL1X                               | Taurus 2020-1 NL DAC                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |      531446 | PA      | $546414.61    | 0.01%             | 2030-02-20      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Live Oak Bancshares Inc                                   | Live Oak Bancshares Inc                                                          | CUSIP: 53803X105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1400 | NS      | $41720.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CoreVest American Finance Ltd                             | Corevest American Finance 2021-1 Trust                                           | CUSIP: 21873LAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      484480 | PA      | $9228.86      | 0.00%             | 2053-04-15      | Variable      | 2.99%                 | No            | 2                  | On Loan: No      |
| Kura Oncology Inc                                         | Kura Oncology Inc                                                                | CUSIP: 50127T109<br>LEI: 5493005QORQTZCZYOP39 | Long             | EC               | CORP              | US        |        7300 | NS      | $42121.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bumble Inc                                                | Bumble Inc                                                                       | CUSIP: 12047B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       14300 | NS      | $94237.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| KeyCorp                                                   | KeyCorp                                                                          | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Short            | EC               | CORP              | US        |     -147846 | NS      | $-2575477.32  | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| Stellantis NV                                             | Stellantis NV                                                                    | CUSIP: 000000000<br>LEI: 549300LKT9PW7ZIBDF31 | Short            | EC               | CORP              | NL        |      -79398 | NS      | $-796361.94   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Atlassian Corp                                            | Atlassian Corp                                                                   | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |       26200 | NS      | $5320958.00   | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 DEC25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        -155 | NC      | $-40947.13    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Rush Street Interactive Inc                               | Rush Street Interactive Inc                                                      | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1000 | NS      | $14900.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LexinFintech Holdings Ltd                                 | LexinFintech Holdings Ltd                                                        | CUSIP: 528877103<br>LEI: 549300F9QU71NQ28CS19 | Long             | EC               | CORP              | KY        |       12900 | NS      | $93009.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Stitch Fix Inc                                            | Stitch Fix Inc                                                                   | CUSIP: 860897107<br>LEI: 549300TNHOVBOJZIYE72 | Short            | EC               | CORP              | US        |       -3100 | NS      | $-11470.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.985005% 04/02/2030 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -500000 | OU      | $9054.81      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.711% 04/12/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-776.93      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Alcoa Corp                                                | Alcoa Corp                                                                       | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Short            | EC               | CORP              | US        |      -23200 | NS      | $-684632.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| KRONOS ACQUISITION HOLDI                                  | Kronos Acquisition Holdings Inc                                                  | CUSIP: 50106GAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1139000 | PA      | $1034305.85   | 0.03%             | 2031-06-30      | Fixed         | 8.25%                 | No            | 2                  | On Loan: No      |
| Electromed Inc                                            | Electromed Inc                                                                   | CUSIP: 285409108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1800 | NS      | $39582.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TFI International Inc                                     | TFI International Inc                                                            | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |         200 | NS      | $17934.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ARS Pharmaceuticals Inc                                   | ARS Pharmaceuticals Inc                                                          | CUSIP: 82835W108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5300 | NS      | $-92485.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.219884% 02/22/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $9238.74      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Trinitas CLO XXVII LTD                                    | Trinitas CLO XXVII LTD                                                           | CUSIP: 000000000<br>LEI: 254900JOSDBR04E6JB79 | Long             | ABS-MBS          | CORP              | KY        |     1000000 | PA      | $1008321.00   | 0.03%             | 2037-04-18      | Floating      | 8.57%                 | No            | 2                  | On Loan: No      |
| Inovio Pharmaceuticals Inc                                | Inovio Pharmaceuticals Inc                                                       | CUSIP: 45773H409<br>LEI: 529900B9W875XDZXTM97 | Long             | EC               | CORP              | US        |           8 | NS      | $16.28        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Okta Inc                                                  | Okta Inc                                                                         | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |        7541 | NS      | $753873.77    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Expanded Tech-Software Sector ETF                 | iShares Expanded Tech-Software Sector ETF                                        | CUSIP: 464287515<br>LEI: 54930072GM1ADLZJ5373 | Short            | EC               | RF                | US        |      -32022 | NS      | $-3506409.00  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.14995% 12/09/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-19552.17    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Core Laboratories Inc                                     | Core Laboratories Inc                                                            | CUSIP: 21867A105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-3456.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Aeva Technologies Inc                                     | Aeva Technologies Inc                                                            | CUSIP: 00835Q202<br>LEI: 529900EOW3TB2FR95A21 | Long             | EC               | CORP              | US        |        5840 | NS      | $220693.60    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Jackson Financial Inc                                     | Jackson Financial Inc                                                            | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |         100 | NS      | $8879.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Mercury General Corp                                      | Mercury General Corp                                                             | CUSIP: 589400100<br>LEI: 5493001Q9EXPCEL4W527 | Long             | EC               | CORP              | US        |        2300 | NS      | $154882.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Outdoor Holding Co                                        | Outdoor Holding Co                                                               | CUSIP: 00175J107<br>LEI: 549300WUBAV2G8RICP63 | Short            | EC               | CORP              | US        |       -6500 | NS      | $-8320.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                           | Telefonaktiebolaget LM Ericsson                                                  | CUSIP: 294821608<br>LEI: 549300W9JLPW15XIFM52 | Short            | EC               | CORP              | SE        |      -51200 | NS      | $-434176.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% AUG 25 85P                                                      | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |         -84 | NC      | $-1092.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bain Capital Credit CLO, Limited                          | Bain Capital Credit CLO 2020-4 Ltd                                               | CUSIP: 05684HAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $1002543.00   | 0.03%             | 2036-10-20      | Floating      | 12.25%                | No            | 2                  | On Loan: No      |
| SI-BONE Inc                                               | SI-BONE Inc                                                                      | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |        2800 | NS      | $52696.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tvardi Therapeutics Inc                                   | Tvardi Therapeutics Inc                                                          | CUSIP: 140755307<br>LEI: 549300COVOY41P0GZ881 | Long             | EC               | CORP              | US        |         222 | NS      | $5179.26      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ATI EQUITY                                                | ATI EQUITY                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |        3039 | NS      | $2013337.50   | 0.05%             |  |  |  | No            | 3                  | On Loan: No      |
| Northern Trust Corp                                       | Northern Trust Corp                                                              | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Short            | EC               | CORP              | US        |       -3300 | NS      | $-418407.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Ingevity Corp                                             | Ingevity Corp                                                                    | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Short            | EC               | CORP              | US        |        -600 | NS      | $-25854.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Acadian Asset Management Inc                              | Acadian Asset Management Inc                                                     | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |       36495 | NS      | $1286083.80   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Robinhood Markets Inc                                     | Robinhood Markets Inc                                                            | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Short            | EC               | CORP              | US        |      -33597 | NS      | $-3145687.11  | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| Laird Superfood Inc                                       | Laird Superfood Inc                                                              | CUSIP: 50736T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $2520.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2015-LC21 Mortgage Trust                                                    | CUSIP: 12593FBH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1113000 | PA      | $1086490.57   | 0.03%             | 2048-07-10      | Variable      | 4.52%                 | No            | 2                  | On Loan: No      |
| Westrock Coffee Co                                        | Westrock Coffee Co                                                               | CUSIP: 96145W103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3000 | NS      | $-17190.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT KRW/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | KR        |           1 | NC      | $10717.07     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.65475% 04/04/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -600000 | OU      | $-7338.58     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| ARES CLO Ltd                                              | ARES LI CLO Ltd                                                                  | CUSIP: 04019MAG7<br>LEI: 5493003FNA8PT0CMDE92 | Long             | ABS-CBDO         | CORP              | KY        |     3000000 | PA      | $2992092.00   | 0.08%             | 2037-10-15      | Floating      | 10.51%                | No            | 2                  | On Loan: No      |
| Arcellx Inc                                               | Arcellx Inc                                                                      | CUSIP: 03940C100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1100 | NS      | $-72435.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CRUDE OIL (ICE) AUG 25                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        -129 | NC      | $-343420.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Quipt Home Medical Corp                                   | Quipt Home Medical Corp                                                          | CUSIP: 74880P104<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |       -1500 | NS      | $-2685.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LifeMD Inc                                                | LifeMD Inc                                                                       | CUSIP: 53216B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1600 | NS      | $21792.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Adaptive Biotechnologies Corp                             | Adaptive Biotechnologies Corp                                                    | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Short            | EC               | CORP              | US        |       -2000 | NS      | $-23300.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Carval CLO LTD                                            | CarVal CLO IX-C Ltd                                                              | CUSIP: 14688JAA6<br>LEI: 2549009HBUYMF23IOB57 | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $1003227.00   | 0.03%             | 2037-04-20      | Floating      | 11.02%                | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT DEC 25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -91 | NC      | $-27975.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Shuttle Pharmaceuticals Holdings Inc                      | Shuttle Pharmaceuticals Holdings Inc                                             | CUSIP: 825693302<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-376.52      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Carlyle Global Market Strategies                          | Carlyle US CLO 2023-5 Ltd                                                        | CUSIP: 14319NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1512043.50   | 0.04%             | 2036-01-27      | Floating      | 12.18%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.79865% 03/04/2030 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -500000 | OU      | $7261.46      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Metallus Inc                                              | Metallus Inc                                                                     | CUSIP: 887399103<br>LEI: 549300QZTZWHDE9HJL14 | Long             | EC               | CORP              | US        |         700 | NS      | $10787.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ZEEKR Intelligent Technology Holding Ltd                  | ZEEKR Intelligent Technology Holding Ltd                                         | CUSIP: 98923K103<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -4300 | NS      | $-109650.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.126% 07/30/2029 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $8450.60      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 JAN 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $42680.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Prestige Wealth Inc                                       | Prestige Wealth Inc                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |          20 | NS      | $7.10         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| RXO Inc                                                   | RXO Inc                                                                          | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Short            | EC               | CORP              | US        |      -10100 | NS      | $-158772.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Takeda Pharmaceutical Co Ltd                              | Takeda Pharmaceutical Co Ltd                                                     | CUSIP: 874060205<br>LEI: 549300ZLMVP4X0OGR454 | Short            | EC               | CORP              | JP        |       -8900 | NS      | $-137594.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BioCryst Pharmaceuticals Inc                              | BioCryst Pharmaceuticals Inc                                                     | CUSIP: 09058V103<br>LEI: 549300Z0INP1Z5NP6J59 | Long             | EC               | CORP              | US        |       50200 | NS      | $449792.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Brookfield Business Corp                                  | Brookfield Business Corp                                                         | CUSIP: 11259V106<br>LEI: 2549005XWAHF5YCLN502 | Short            | EC               | CORP              | CA        |        -300 | NS      | $-9360.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Manulife Financial Corp                                   | Manulife Financial Corp                                                          | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Short            | EC               | CORP              | CA        |      -13500 | NS      | $-431460.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Castle U.S. Holding Corp.                                 | Castle US Holding Corporation 2025 USD FLSO Term Loan B2                         | CUSIP: 000000000<br>LEI: 254900VXLMLPIE9ID612 | Long             | LON              | CORP              | US        |       26540 | PA      | $14145.97     | 0.00%             | 2030-05-31      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    20000000 | OU      | $490938.90    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| US Renal Care Inc                                         | US Renal Care Inc 2023 Superpriority Term Loan                                   | CUSIP: 90290PAS3<br>LEI: 54930058SS5MF69JGN89 | Long             | LON              | CORP              | US        |     1370634 | PA      | $1293535.97   | 0.03%             | 2028-06-20      | Floating      | 9.44%                 | No            | 2                  | On Loan: No      |
| Foresight Autonomous Holdings Ltd                         | Foresight Autonomous Holdings Ltd                                                | CUSIP: 345523203<br>LEI: 5299005KAEJOQ73AME77 | Short            | EC               | CORP              | IL        |        -388 | NS      | $-178.52      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.92825% 03/12/2040 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -200000 | OU      | $845.62       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Haverty Furniture Cos Inc                                 | Haverty Furniture Cos Inc                                                        | CUSIP: 419596101<br>LEI: 529900CVFMMIRXZVPD70 | Long             | EC               | CORP              | US        |         200 | NS      | $4070.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Aceragen Inc                                              | Aceragen Inc                                                                     | CUSIP: 00445F109<br>LEI: 549300JLJLICQGQFXF87 | Short            | EC               | CORP              | US        |        -735 | NS      | $-282.89      | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| European Wax Center Inc                                   | European Wax Center Inc                                                          | CUSIP: 29882P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2500 | NS      | $14075.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-64180.81    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Meridianlink Inc                                          | Meridianlink Inc                                                                 | CUSIP: 58985J105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-1623.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NYSE Euronext Liffe                                       | LONG GILT FUTURE  Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         112 | NC      | $-4447.38     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BENCHMARK Mortgage Trust                                  | Benchmark 2024-V7 Mortgage Trust                                                 | CUSIP: 08163YAY7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $94337.00     | 0.00%             | 2056-05-15      | Variable      | 3.08%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.5789% 04/08/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -4800000 | OU      | $11173.36     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Hess Corp                                                 | Hess Corp                                                                        | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |       17662 | NS      | $2446893.48   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Solowin Holdings                                          | Solowin Holdings                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |          11 | NS      | $35.09        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Seanergy Maritime Holdings Corp                           | Seanergy Maritime Holdings Corp                                                  | CUSIP: 000000000<br>LEI: 213800S7JIZA8FZXF245 | Long             | EC               | CORP              | MH        |        2330 | NS      | $14702.30     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Oklo Inc                                                  | Oklo Inc                                                                         | CUSIP: 02156V109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -47600 | NS      | $-2665124.00  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Pathward Financial Inc                                    | Pathward Financial Inc                                                           | CUSIP: 59100U108<br>LEI: 5493004X52BH1NBLW813 | Long             | EC               | CORP              | US        |         500 | NS      | $39560.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Phillips 66                                               | Phillips 66                                                                      | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Short            | EC               | CORP              | US        |        -100 | NS      | $-11930.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Algorhythm Holdings Inc                                   | Algorhythm Holdings Inc                                                          | CUSIP: 829322502<br>LEI: N/A                  | Long             | EC               | CORP              | US        |           5 | NS      | $12.25        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Civista Bancshares Inc                                    | Civista Bancshares Inc                                                           | CUSIP: 178867107<br>LEI: 5493001LX61Z2UVYSC48 | Short            | EC               | CORP              | US        |      -11301 | NS      | $-262183.20   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Medallion Financial Corp                                  | Medallion Financial Corp                                                         | CUSIP: 583928106<br>LEI: 549300FJ4FMGJ2C34Y48 | Long             | EC               | CORP              | US        |        1400 | NS      | $13342.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY OCT 27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $42687.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GSI Technology Inc                                        | GSI Technology Inc                                                               | CUSIP: 36241U106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $336.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UnitedHealth Group Inc                                    | UnitedHealth Group Inc                                                           | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       13500 | NS      | $4211595.00   | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Insight Enterprises Inc                                   | Insight Enterprises Inc                                                          | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Short            | EC               | CORP              | US        |        -800 | NS      | $-110468.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SeaStar Medical Holding Corp                              | SeaStar Medical Holding Corp                                                     | CUSIP: 81256L203<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2013 | NS      | $-856.93      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Fangdd Network Group Ltd                                  | Fangdd Network Group Ltd                                                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -100 | NS      | $-212.00      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.427325% 03/05/2040 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $9853.67      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Industrial Logistics Properties Trust                     | Industrial Logistics Properties Trust                                            | CUSIP: 456237106<br>LEI: 5493004XH9PJW009HR47 | Short            | EC               |  | US        |        -400 | NS      | $-1820.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA2                                                  | CUSIP: 126694R75<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      501686 | PA      | $431352.69    | 0.01%             | 2046-05-20      | Floating      | 4.85%                 | No            | 2                  | On Loan: No      |
| ARES CLO Ltd                                              | Ares Loan Funding VIII Ltd                                                       | CUSIP: 04021NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1002372.00   | 0.03%             | 2038-01-24      | Floating      | 9.54%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.8289% 04/03/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      300000 | OU      | $-4156.70     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bausch Health Cos Inc                                     | Bausch Health Cos Inc                                                            | CUSIP: 071734107<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | EC               | CORP              | CA        |        1700 | NS      | $11322.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Mereo Biopharma Group PLC                                 | Mereo Biopharma Group PLC                                                        | CUSIP: 589492107<br>LEI: 213800U8JQHIJOS5AS09 | Long             | EC               | CORP              | GB        |        2200 | NS      | $5962.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Omnicell Inc                                              | Omnicell Inc                                                                     | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |         500 | NS      | $14700.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Dec 2026 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     4800000 | OU      | $47140.21     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Univest Financial Corp                                    | Univest Financial Corp                                                           | CUSIP: 915271100<br>LEI: 4WII2HCR8UEWNU03U507 | Long             | EC               | CORP              | US        |        1000 | NS      | $30040.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE FEB 26                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |        -643 | NC      | $335190.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Regions Financial Corp                                    | Regions Financial Corp                                                           | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Short            | EC               | CORP              | US        |      -10079 | NS      | $-237058.08   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Commodities Exchange Center                               | COPPER (25000) SEP 25                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          45 | NC      | $152787.37    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dlocal Ltd/Uruguay                                        | Dlocal Ltd/Uruguay                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |        5400 | NS      | $61236.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Mistras Group Inc                                         | Mistras Group Inc                                                                | CUSIP: 60649T107<br>LEI: 5493000CMNXVLND3FU73 | Long             | EC               | CORP              | US        |         600 | NS      | $4806.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | Buy PERU SNRFOR USD 100 Jun 2030 JPMB_ISDA 1%                                    | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | PE        |     4215000 | OU      | $-35483.77    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| SoftBank Group Corp                                       | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | EC               | CORP              | JP        |       22500 | NS      | $1635885.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| American Coastal Insurance Corp                           | American Coastal Insurance Corp                                                  | CUSIP: 910710102<br>LEI: 5299002P9105LJQA8G51 | Long             | EC               | CORP              | US        |         800 | NS      | $8896.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sinclair Inc                                              | Sinclair Inc                                                                     | CUSIP: 829242106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2800 | NS      | $-38696.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Clorox Co/The                                             | Clorox Co/The                                                                    | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |        1400 | NS      | $168098.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | EO-USDJPY(USD) 08/26/25 139P                                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |     2000000 | OU      | $13522.00     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| AMC Networks Inc                                          | AMC Networks Inc                                                                 | CUSIP: 00164V103<br>LEI: 549300VGG9K75226LR46 | Long             | EC               | CORP              | US        |        6800 | NS      | $42636.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT SEK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | SE        |           1 | NC      | $14435.42     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| RBC Bearings Inc                                          | RBC Bearings Inc                                                                 | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       46338 | NS      | $17830862.40  | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.96% 09/29/2027 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    -2100000 | OU      | $25042.44     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |     1186000 | PA      | $890635.18    | 0.02%             | 2034-01-31      | Fixed         | 1.25%                 | Yes           | 2                  | On Loan: No      |
| GPS HOSPITALITY HOLDING                                   | GPS Hospitality Holding Co LLC / GPS Finco Inc                                   | CUSIP: 36262BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4829000 | PA      | $2800820.00   | 0.07%             | 2028-08-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                                | Fannie Mae REMICS                                                                | CUSIP: 3136B9X93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    30109228 | PA      | $5653519.33   | 0.15%             | 2044-10-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Baytex Energy Corp                                        | Baytex Energy Corp                                                               | CUSIP: 07317Q105<br>LEI: 549300R5LTV2H7I1I079 | Short            | EC               | CORP              | CA        |        -886 | NS      | $-1585.94     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Kelly Services Inc                                        | Kelly Services Inc                                                               | CUSIP: 488152208<br>LEI: 25490035B2ZPL6RM1974 | Long             | EC               | CORP              | US        |        5200 | NS      | $60892.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Philip Morris International Inc                           | Philip Morris International Inc                                                  | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |        4767 | NS      | $868213.71    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Fortuna Mining Corp                                       | Fortuna Mining Corp                                                              | CUSIP: 349942102<br>LEI: 5493003Q88RVK7CW4735 | Long             | EC               | CORP              | CA        |       11800 | NS      | $77172.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |      200000 | PA      | $185828.14    | 0.00%             | 2046-04-30      | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| Synaptics Inc                                             | Synaptics Inc                                                                    | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |        1300 | NS      | $84266.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS SWAP DEC 25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -28 | NC      | $-45340.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Caribou Biosciences Inc                                   | Caribou Biosciences Inc                                                          | CUSIP: 142038108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       22200 | NS      | $27972.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Origin Agritech Ltd                                       | Origin Agritech Ltd                                                              | CUSIP: 000000000<br>LEI: 549300OF4O6676X0P611 | Short            | EC               | CORP              | VG        |        -674 | NS      | $-687.48      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CBRE Group Inc                                            | CBRE Group Inc                                                                   | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Short            | EC               | CORP              | US        |      -13500 | NS      | $-1891620.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Vistagen Therapeutics Inc                                 | Vistagen Therapeutics Inc                                                        | CUSIP: 92840H400<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         247 | NS      | $494.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Verve Therapeutics Inc                                    | Verve Therapeutics Inc                                                           | CUSIP: 92539P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        8600 | NS      | $96578.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS OCT 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -60 | NC      | $311900.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Acuren Corp                                               | Acuren Corp                                                                      | CUSIP: 00510N102<br>LEI: 213800ZDFRNC8QXEZ481 | Short            | EC               | CORP              | US        |        -100 | NS      | $-1104.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Deephaven Residential Mortgage Trust                      | Deephaven Residential Mortgage Trust 2021-2                                      | CUSIP: 24381WAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $72024.10     | 0.00%             | 2066-04-25      | Variable      | 3.93%                 | No            | 2                  | On Loan: No      |
| Heidmar Maritime Holdings Corp                            | Heidmar Maritime Holdings Corp                                                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | MH        |          -3 | NS      | $-5.13        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Soluna Holdings Inc                                       | Soluna Holdings Inc                                                              | CUSIP: 583543301<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2800 | NS      | $-1612.81     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  NOV26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-1070737.36  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Trinseo PLC                                               | Trinseo PLC                                                                      | CUSIP: 000000000<br>LEI: 549300TJ3HIGDA2Z8315 | Long             | EC               | CORP              | IE        |         100 | NS      | $312.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Turtle Beach Corp                                         | Turtle Beach Corp                                                                | CUSIP: 900450206<br>LEI: 549300SZRV8U8PXSYI20 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-22128.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BrightSpring Health Services Inc                          | BrightSpring Health Services Inc                                                 | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       23552 | NS      | $555591.68    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Symphony CLO 43 Ltd                                       | Symphony CLO 43 Ltd                                                              | CUSIP: 000000000<br>LEI: 254900QCSPTCYRSY3N68 | Long             | ABS-MBS          | CORP              | KY        |     1000000 | PA      | $1002505.00   | 0.03%             | 2037-04-15      | Floating      | 11.01%                | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT OCT 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $60475.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Carlyle Global Market Strategies                          | Carlyle US CLO 2021-10 LTD                                                       | CUSIP: 14318EAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1011250.00   | 0.03%             | 2038-01-20      | Floating      | 11.02%                | No            | 2                  | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                              | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    23792000 | PA      | $18714435.08  | 0.50%             | 2050-01-23      | Fixed         | 7.69%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | CORN FUTURE       Mar26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       -1835 | NC      | $442187.64    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Ramaco Resources Inc                                      | Ramaco Resources Inc                                                             | CUSIP: 75134P600<br>LEI: 5493001BYUI4TCQOPF70 | Short            | EC               | CORP              | US        |       -1300 | NS      | $-17082.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Purple Innovation Inc                                     | Purple Innovation Inc                                                            | CUSIP: 74640Y106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3800 | NS      | $-2770.96     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| National Beverage Corp                                    | National Beverage Corp                                                           | CUSIP: 635017106<br>LEI: 549300O9MZIQJI8TGV17 | Long             | EC               | CORP              | US        |        2300 | NS      | $99452.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bilibili Inc                                              | Bilibili Inc                                                                     | CUSIP: 090040106<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | KY        |        6500 | NS      | $139425.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CIFC Funding Ltd                                          | CIFC Funding 2021-V Ltd                                                          | CUSIP: 12565HAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $974190.00    | 0.03%             | 2038-01-15      | Floating      | 9.36%                 | No            | 2                  | On Loan: No      |
| Easterly Government Properties Inc                        | Easterly Government Properties Inc                                               | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Short            | EC               |  | US        |        -220 | NS      | $-4884.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA8                                                  | CUSIP: 02147CAG8<br>LEI: 549300EBNJLBIQBKE071 | Long             | ABS-MBS          | CORP              | US        |      339420 | PA      | $260997.49    | 0.01%             | 2046-07-25      | Floating      | 4.95%                 | No            | 2                  | On Loan: No      |
| Vibrant CLO Ltd                                           | Vibrant CLO XII Ltd                                                              | CUSIP: 92558XAE0<br>LEI: 5493000EYQWTOWOLAO60 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $993419.00    | 0.03%             | 2034-04-20      | Floating      | 11.21%                | No            | 2                  | On Loan: No      |
| Materialise NV                                            | Materialise NV                                                                   | CUSIP: 57667T100<br>LEI: 5493004CXYDPCZ5RQK28 | Long             | EC               | CORP              | BE        |         300 | NS      | $1695.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dell Technologies Inc                                     | Dell Technologies Inc                                                            | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Short            | EC               | CORP              | US        |        -449 | NS      | $-55047.40    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.448% 02/07/2030 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $-2811.19     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Magnachip Semiconductor Corp                              | Magnachip Semiconductor Corp                                                     | CUSIP: 55933J203<br>LEI: 529900P54J1ATLRBUV29 | Long             | EC               | CORP              | US        |        4700 | NS      | $18706.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | EGYPT TREASURY BILL 0.0 07/01/25 364D                                            | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | EG        |  1158550000 | OU      | $23357862.25  | 0.62%             |  |  |  | No            | 2                  | On Loan: No      |
| Netcapital Inc                                            | Netcapital Inc                                                                   | CUSIP: 64113L202<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-686.00      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                    | Merrill Lynch Mortgage Investors Trust Series 2006-RM5                           | CUSIP: 59023FAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2134918 | PA      | $311785.56    | 0.01%             | 2037-10-25      | Floating      | 4.79%                 | No            | 2                  | On Loan: No      |
| Infinity Natural Resources Inc                            | Infinity Natural Resources Inc                                                   | CUSIP: 456941103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       10708 | NS      | $196063.48    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Tecnoglass Inc                                            | Tecnoglass Inc                                                                   | CUSIP: 000000000<br>LEI: 529900YRWTPOC2E6IO67 | Long             | EC               | CORP              | KY        |         600 | NS      | $46416.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| NYSE Euronext Liffe                                       | EURIBOR 3MO (LIFFE) DEC 25                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |       -1359 | NC      | $341679.11    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Industrial Select Sector SPDR Fund                        | Industrial Select Sector SPDR Fund                                               | CUSIP: 81369Y704<br>LEI: 549300HQI51T8KP6U325 | Short            | EC               | RF                | US        |        -931 | NS      | $-137341.12   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | NASDAQ 100 E-MINI Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |          29 | NC      | $480160.11    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| SG Commercial Mortgage Securities Trust                   | SG Commercial Mortgage Securities Trust 2016-C5                                  | CUSIP: 78419CAV6<br>LEI: 549300SZQW4U3UN4A157 | Long             | ABS-MBS          | CORP              | US        |      205000 | PA      | $162727.16    | 0.00%             | 2048-10-10      | Variable      | 4.97%                 | No            | 2                  | On Loan: No      |
| JAKKS Pacific Inc                                         | JAKKS Pacific Inc                                                                | CUSIP: 47012E403<br>LEI: 549300UEF3348JRXQ295 | Long             | EC               | CORP              | US        |         600 | NS      | $12468.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Essential Properties Realty Trust Inc                     | Essential Properties Realty Trust Inc                                            | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |         400 | NS      | $12764.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UZBEKISTAN INTL BOND                                      | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     3407000 | PA      | $3630461.56   | 0.10%             | 2028-10-12      | Fixed         | 7.85%                 | Yes           | 2                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |      612000 | PA      | $567805.24    | 0.02%             | 2033-04-30      | Fixed         | 7.13%                 | Yes           | 2                  | On Loan: No      |
| Goldman Sachs International                               | Variance Swap - SX5E (19.3% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | XX        |       -3307 | OU      | $-174190.64   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | SOUSD_SOFR_P_5.375_20280630_20270630_LCH                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |    11050000 | NC      | $8599.96      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Omeros Corp                                               | Omeros Corp                                                                      | CUSIP: 682143102<br>LEI: 549300CJWLXX2MXVVV71 | Long             | EC               | CORP              | US        |        6800 | NS      | $20400.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Apidos CLO Ltd                                            | Apidos CLO LIII                                                                  | CUSIP: 03771GAA3<br>LEI: 254900V9JISXCX9V0G97 | Long             | ABS-CBDO         | CORP              | KY        |     1125000 | PA      | $1133083.13   | 0.03%             | 2038-07-20      | Floating      | 10.76%                | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT INR/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | IN        |           1 | NC      | $43379.17     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Commodities Exchange Center                               | COPPER (25000) DEC 25                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         256 | NC      | $942161.85    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Apidos CLO Ltd                                            | Apidos Clo Xxv                                                                   | CUSIP: 03766CAH4<br>LEI: 254900C9NN5XS59HZV73 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $998827.00    | 0.03%             | 2037-01-20      | Floating      | 9.62%                 | No            | 2                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | CSAIL 2015-C4 Commercial Mortgage Trust                                          | CUSIP: 12635RAL2<br>LEI: 54930025J96YEH8FQE77 | Long             | ABS-MBS          | CORP              | US        |     5568000 | PA      | $5163312.19   | 0.14%             | 2048-11-15      | Variable      | 3.50%                 | No            | 2                  | On Loan: No      |
| Bit Digital Inc                                           | Bit Digital Inc                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |      -18400 | NS      | $-40296.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| First Majestic Silver Corp                                | First Majestic Silver Corp                                                       | CUSIP: 32076V103<br>LEI: 529900PWCU5DUH1DYR51 | Short            | EC               | CORP              | CA        |         -20 | NS      | $-165.40      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.491% 10/04/2034 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    -2500000 | OU      | $-52870.26    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Fiverr International Ltd                                  | Fiverr International Ltd                                                         | CUSIP: 000000000<br>LEI: 549300Z8OREY6THCPF67 | Long             | EC               | CORP              | IL        |        5700 | NS      | $167181.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ARES CLO Ltd                                              | Ares LXI CLO Ltd                                                                 | CUSIP: 04019DAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1007143.00   | 0.03%             | 2037-04-20      | Floating      | 8.17%                 | No            | 2                  | On Loan: No      |
| Vestis Corp                                               | Vestis Corp                                                                      | CUSIP: 29430C102<br>LEI: 254900QDW0TA2TMFAP59 | Short            | EC               | CORP              | US        |       -7500 | NS      | $-42975.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Jun 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     1100000 | OU      | $17469.68     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Carter Bankshares Inc                                     | Carter Bankshares Inc                                                            | CUSIP: 146103106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $8670.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Taysha Gene Therapies Inc                                 | Taysha Gene Therapies Inc                                                        | CUSIP: 877619106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4400 | NS      | $-10164.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | TAKARA LEBEN REAL ESTATE INV CFD                                                 | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CRUDE OIL (ICE) SEP 25                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          70 | NC      | $-11360.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BX Trust                                                  | BX Commercial Mortgage Trust 2021-SOAR                                           | CUSIP: 05608WAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      460287 | PA      | $460863.16    | 0.01%             | 2038-06-15      | Floating      | 6.78%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.584% 09/18/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -100000 | OU      | $-20836.10    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| NYSE Euronext Life                                        | MSCI EmgMkt       Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |          72 | NC      | $71280.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iCAD Inc                                                  | iCAD Inc                                                                         | CUSIP: 44934S206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1200 | NS      | $4572.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AutoZone Inc                                              | AutoZone Inc                                                                     | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Short            | EC               | CORP              | US        |        -200 | NS      | $-742446.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Board of Trade                                   | COTTON 1 DEC 25                                                                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        -197 | NC      | $7820.90      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | EURO-BUND FUTURE  Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         132 | NC      | $-155842.85   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Amphenol Corp                                             | Amphenol Corp                                                                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      195504 | NS      | $19306020.00  | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo & Co                                          | Wells Fargo & Co                                                                 | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      111731 | NS      | $8951887.72   | 0.24%             |  |  |  | No            | N/A                | On Loan: No      |
| Bankwell Financial Group Inc                              | Bankwell Financial Group Inc                                                     | CUSIP: 06654A103<br>LEI: 5493004NUBQXPY84NX67 | Short            | EC               | CORP              | US        |       -4342 | NS      | $-156442.26   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.5% 11/08/2039 LCH                                                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-4392.35     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Northern Trust Corp                                       | Northern Trust Corp                                                              | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |       11759 | NS      | $1490923.61   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Anika Therapeutics Inc                                    | Anika Therapeutics Inc                                                           | CUSIP: 035255108<br>LEI: 529900R9LS3Z0O6QH455 | Long             | EC               | CORP              | US        |         800 | NS      | $8464.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Flora Growth Corp                                         | Flora Growth Corp                                                                | CUSIP: 339764201<br>LEI: 98450048403E01089069 | Short            | EC               | CORP              | CA        |       -1900 | NS      | $-1102.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | ONEOK INC CFD                                                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -1974690 | OU      | $-44019.40    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| FTAI Infrastructure Inc                                   | FTAI Infrastructure Inc                                                          | CUSIP: 35953C106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3600 | NS      | $-22212.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Marathon Petroleum Corp                                   | Marathon Petroleum Corp                                                          | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |        2300 | NS      | $382053.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Stem Inc                                                  | Stem Inc                                                                         | CUSIP: 85859N300<br>LEI: 549300GVWIYFILN5V546 | Short            | EC               | CORP              | US        |         -99 | NS      | $-616.77      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Blaize Holdings Inc                                       | Blaize Holdings Inc                                                              | CUSIP: 092915107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -500 | NS      | $-1490.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.06886% 11/09/2054 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      100000 | OU      | $9226.17      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HB ACQUISITIONS LLC                                       | HB Acquisitions LLC 2024 AUD Term Loan A                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AU        |     3574470 | PA      | $2317249.57   | 0.06%             | 2029-08-06      | Floating      | 10.33%                | No            | 3                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CHINA SNRFOR USD 100 Dec 2029 Morgan 1%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | CN        |     1500000 | OU      | $-33187.37    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-HY6                                                  | CUSIP: 02151JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      382644 | PA      | $324178.15    | 0.01%             | 2047-08-25      | Floating      | 4.85%                 | No            | 2                  | On Loan: No      |
| Capital One Financial Corp                                | Capital One Financial Corp                                                       | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Short            | EC               | CORP              | US        |      -20267 | NS      | $-4312006.92  | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| Hesai Group                                               | Hesai Group                                                                      | CUSIP: 428050108<br>LEI: 836800KOYHURQT1JZY11 | Long             | EC               | CORP              | KY        |       13000 | NS      | $285350.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Polestar Automotive Holding UK PLC                        | Polestar Automotive Holding UK PLC                                               | CUSIP: 731105201<br>LEI: 894500HDA1DJKHYN4D83 | Short            | EC               | CORP              | GB        |       -2140 | NS      | $-2289.80     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Amplitude Inc                                             | Amplitude Inc                                                                    | CUSIP: 03213A104<br>LEI: 984500EZ87C703978858 | Long             | EC               | CORP              | US        |        1000 | NS      | $12400.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 1.882% 01/24/2027 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     1500000 | OU      | $46221.81     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| TXNM Energy Inc                                           | TXNM Energy Inc                                                                  | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-90112.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ispire Technology Inc                                     | Ispire Technology Inc                                                            | CUSIP: 46501C100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1700 | NS      | $-4352.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Citius Pharmaceuticals Inc                                | Citius Pharmaceuticals Inc                                                       | CUSIP: 17322U306<br>LEI: 5493005C10W36P4KQP40 | Short            | EC               | CORP              | US        |         -62 | NS      | $-98.58       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Triple Flag Precious Metals Corp                          | Triple Flag Precious Metals Corp                                                 | CUSIP: 89679M104<br>LEI: 254900R7NJ1TEYIM4E61 | Long             | EC               | CORP              | CA        |        5100 | NS      | $120819.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SHR Trust                                                 | SHR Trust 2024-LXRY                                                              | CUSIP: 784234AG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      674000 | PA      | $677214.98    | 0.02%             | 2041-10-15      | Floating      | 7.91%                 | No            | 2                  | On Loan: No      |
| Getty Images Holdings Inc                                 | Getty Images Holdings Inc                                                        | CUSIP: 374275105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1200 | NS      | $-1992.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Marex Group PLC                                           | Marex Group PLC                                                                  | CUSIP: 000000000<br>LEI: 549300DWX0SVICJAL507 | Long             | EC               | CORP              | GB        |       69393 | NS      | $2738941.71   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| East West Bancorp Inc                                     | East West Bancorp Inc                                                            | CUSIP: 27579R104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -114603 | NS      | $-11572610.94 | -0.31%            |  |  |  | No            | 1                  | On Loan: No      |
| Wyndham Hotels & Resorts Inc                              | Wyndham Hotels & Resorts Inc                                                     | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Short            | EC               | CORP              | US        |       -8764 | NS      | $-711724.44   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| HealthEquity Inc                                          | HealthEquity Inc                                                                 | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-125712.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ICNQ Mortgage Trust                                       | ICNQ 2024-MF Mortgage Trust                                                      | CUSIP: 450953AC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $18213.00     | 0.00%             | 2034-12-10      | Variable      | 0.63%                 | No            | 2                  | On Loan: No      |
| Tenaya Therapeutics Inc                                   | Tenaya Therapeutics Inc                                                          | CUSIP: 87990A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2300 | NS      | $1405.76      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| EverCommerce Inc                                          | EverCommerce Inc                                                                 | CUSIP: 29977X105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -600 | NS      | $-6300.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hive Digital Technologies Ltd                             | Hive Digital Technologies Ltd                                                    | CUSIP: 433921103<br>LEI: 5493004QCZ1QBI9FS784 | Short            | EC               | CORP              | CA        |        -200 | NS      | $-360.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| nVent Electric PLC                                        | nVent Electric PLC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IE        |        -900 | NS      | $-65925.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | EO-USDCNH(USD) 07/18/25 7.45C                                                    | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |    30000000 | OU      | $175.40       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Dick's Sporting Goods Inc                                 | Dick's Sporting Goods Inc                                                        | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Short            | EC               | CORP              | US        |       -2600 | NS      | $-514306.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.61% 04/04/2039 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-3693.24     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Oaktree CLO Ltd                                           | Oaktree CLO 2025-32 Ltd                                                          | CUSIP: 67389GAA2<br>LEI: 254900U83NJDV6PRP726 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1000000.00   | 0.03%             | 2038-07-15      | Floating      | 0.00%                 | No            | N/A                | On Loan: No      |
| Four Corners Property Trust Inc                           | Four Corners Property Trust Inc                                                  | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               |  | US        |        4600 | NS      | $123786.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 SEP 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $-6480.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Northeast Bank                                            | Northeast Bank                                                                   | CUSIP: 66405S100<br>LEI: 549300F0LV9TSW34E306 | Long             | EC               | CORP              | US        |         100 | NS      | $8899.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Take-Two Interactive Software Inc                         | Take-Two Interactive Software Inc                                                | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Short            | EC               | CORP              | US        |      -17103 | NS      | $-4153463.55  | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| Vistra Corp                                               | Vistra Corp                                                                      | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Short            | EC               | CORP              | US        |       -3500 | NS      | $-678335.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Powell Industries Inc                                     | Powell Industries Inc                                                            | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-231495.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Romark CLO Ltd                                            | Romark CLO IV Ltd                                                                | CUSIP: 77588LAG6<br>LEI: 549300HD9K8XL8QM2Z46 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1003755.00   | 0.03%             | 2034-07-10      | Floating      | 7.67%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FWGA2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1000000 | PA      | $122157.00    | 0.00%             | 2048-09-25      | Variable      | 3.06%                 | No            | 2                  | On Loan: No      |
| SailPoint Inc                                             | SailPoint Inc                                                                    | CUSIP: 78781J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       89787 | NS      | $2052530.82   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | AMERICAN INTEGRITY INSURANCE CFD                                                 | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |     -190793 | OU      | $-6108.98     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Viking Holdings Ltd                                       | Viking Holdings Ltd                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |       25800 | NS      | $1374882.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| JBG SMITH Properties                                      | JBG SMITH Properties                                                             | CUSIP: 46590V100<br>LEI: N/A                  | Short            | EC               |  | US        |        -600 | NS      | $-10380.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| DR Horton Inc                                             | DR Horton Inc                                                                    | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |        4100 | NS      | $528572.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Balboa Bay Loan Funding Ltd                               | Balboa Bay Loan Funding 2024-1 Ltd                                               | CUSIP: 05766PAA5<br>LEI: 254900ZDWC7EDY07BS61 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1007452.00   | 0.03%             | 2037-07-20      | Floating      | 10.52%                | No            | 2                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | Csail 2015-C2 Commercial Mortgage Trust                                          | CUSIP: 12634NAV0<br>LEI: 549300D5DIOOMKWXVZ20 | Long             | ABS-MBS          | CORP              | US        |     3383234 | PA      | $5589.10      | 0.00%             | 2057-06-15      | Variable      | 0.42%                 | No            | 2                  | On Loan: No      |
| Trinitas CLO Ltd                                          | Trinitas CLO XXX Ltd                                                             | CUSIP: 89643DAJ6<br>LEI: 254900TSX6348DURD845 | Long             | ABS-CBDO         | CORP              | KY        |     3000000 | PA      | $3003369.00   | 0.08%             | 2037-10-23      | Floating      | 7.78%                 | No            | 2                  | On Loan: No      |
| Fiserv Inc                                                | Fiserv Inc                                                                       | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Short            | EC               | CORP              | US        |       -3536 | NS      | $-609641.76   | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-XAGUSD(USD) 12/18/25 42.5C                                                    | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DCO              |  | US        |     -210000 | NC      | $-184044.43   | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| GLS Auto Receivables Trust                                | GLS Auto Receivables Issuer Trust 2024-3                                         | CUSIP: 37989AAN4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      813000 | PA      | $820762.52    | 0.02%             | 2031-06-16      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| Semtech Corp                                              | Semtech Corp                                                                     | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |        9600 | NS      | $433344.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS MAY 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -33 | NC      | $160529.29    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT JUL 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-32475.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MarketAxess Holdings Inc                                  | MarketAxess Holdings Inc                                                         | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |       30817 | NS      | $6882668.78   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.155529% 03/01/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $20212.21     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Deutsche Lufthansa AG                                     | Deutsche Lufthansa AG                                                            | CUSIP: 000000000<br>LEI: 529900PH63HYJ86ASW55 | Short            | EC               | CORP              | DE        |       -6935 | NS      | $-58875.60    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LPL Financial Holdings Inc                                | LPL Financial Holdings Inc                                                       | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Short            | EC               | CORP              | US        |       -2200 | NS      | $-824934.00   | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Joby Aviation Inc                                         | Joby Aviation Inc                                                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -179000 | NS      | $-1888450.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| PBF Energy Inc                                            | PBF Energy Inc                                                                   | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Short            | EC               | CORP              | US        |       -5562 | NS      | $-120528.54   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Interactive Brokers Group Inc                             | Interactive Brokers Group Inc                                                    | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |       37900 | NS      | $2100039.00   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Hillenbrand Inc                                           | Hillenbrand Inc                                                                  | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Short            | EC               | CORP              | US        |       -1900 | NS      | $-38133.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.104% 08/10/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $1232.98      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Engineered Machinery Holdings Inc                         | Engineered Machinery Holdings Inc 2021 USD 2nd Lien Incremental Term Loan        | CUSIP: 26658NAN9<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |     1122432 | PA      | $1125237.89   | 0.03%             | 2029-05-21      | Floating      | 11.06%                | No            | 3                  | On Loan: No      |
| MCGRAW-HILL EDUCATION                                     | McGraw-Hill Education Inc                                                        | CUSIP: 57767XAB6<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |     7487000 | PA      | $7623278.34   | 0.20%             | 2029-08-01      | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| StoneX Group Inc                                          | StoneX Group Inc                                                                 | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Short            | EC               | CORP              | US        |       -8113 | NS      | $-739418.82   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| LanzaTech Global Inc                                      | LanzaTech Global Inc                                                             | CUSIP: 51655R101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -12003 | NS      | $-3255.22     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Six Flags Entertainment Corp                              | Six Flags Entertainment Corp                                                     | CUSIP: 83001C108<br>LEI: 529900AS2CYWYFHRS781 | Short            | EC               | CORP              | US        |      -30488 | NS      | $-927749.84   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Cohen & Steers Inc                                        | Cohen & Steers Inc                                                               | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Short            | EC               | CORP              | US        |        -100 | NS      | $-7535.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| DR Horton Inc                                             | DR Horton Inc                                                                    | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Short            | EC               | CORP              | US        |        -913 | NS      | $-117703.96   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.5465% 10/25/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-2858.67     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Adicet Bio Inc                                            | Adicet Bio Inc                                                                   | CUSIP: 007002108<br>LEI: 549300VRD2QO80WBOP18 | Long             | EC               | CORP              | US        |       11242 | NS      | $6857.62      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Deutsche Alt-A Securities INC Mortgage Loan Trust         | Deutsche Alt-A Securities Mortgage Loan Trust Series 2006-AR5                    | CUSIP: 25150NAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1262802 | PA      | $396542.63    | 0.01%             | 2036-10-25      | Floating      | 4.69%                 | No            | 2                  | On Loan: No      |
| NaaS Technology Inc                                       | NaaS Technology Inc                                                              | CUSIP: 62955X300<br>LEI: 83680097FFBDDVWEE915 | Short            | EC               | CORP              | KY        |        -800 | NS      | $-640.32      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Entegris Inc                                              | Entegris Inc                                                                     | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Short            | EC               | CORP              | US        |       -9302 | NS      | $-750206.30   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Miller Industries Inc/TN                                  | Miller Industries Inc/TN                                                         | CUSIP: 600551204<br>LEI: 549300F1O74SPUJ7UU94 | Long             | EC               | CORP              | US        |         300 | NS      | $13338.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Genmab A/S                                                | Genmab A/S                                                                       | CUSIP: 372303206<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |       24500 | NS      | $506170.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| American Homes 4 Rent                                     | American Homes 4 Rent                                                            | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Short            | EC               |  | US        |        -700 | NS      | $-25249.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Merus NV                                                  | Merus NV                                                                         | CUSIP: 000000000<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |        5900 | NS      | $310340.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.58875% 08/30/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $1571.69      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| iRhythm Technologies Inc                                  | iRhythm Technologies Inc                                                         | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Short            | EC               | CORP              | US        |       -3400 | NS      | $-523464.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Ecuador Government International Bonds                    | Ecuador Government International Bonds                                           | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     7824396 | PA      | $6787663.54   | 0.18%             | 2030-07-31      | Fixed         | 6.90%                 | Yes           | 2                  | On Loan: No      |
| Ennis Inc                                                 | Ennis Inc                                                                        | CUSIP: 293389102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         800 | NS      | $14512.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FDEU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    30270842 | PA      | $464869.32    | 0.01%             | 2032-11-25      | Variable      | 0.43%                 | No            | 2                  | On Loan: No      |
| Cinemark Holdings Inc                                     | Cinemark Holdings Inc                                                            | CUSIP: 17243V102<br>LEI: 549300LL2QMPTYIE0K55 | Long             | EC               | CORP              | US        |        4900 | NS      | $147882.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Novanta Inc                                               | Novanta Inc                                                                      | CUSIP: 67000B104<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |       -1100 | NS      | $-141823.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sandisk Corp/DE                                           | Sandisk Corp/DE                                                                  | CUSIP: 80004C200<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -22800 | NS      | $-1033980.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| JetBlue Airways Corp                                      | JetBlue Airways Corp                                                             | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Long             | EC               | CORP              | US        |         500 | NS      | $2115.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.81105% 10/17/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      200000 | OU      | $14243.81     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                              | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     3240000 | PA      | $2328228.49   | 0.06%             | 2060-01-28      | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.92576% 07/10/2054 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -100000 | OU      | $-13088.41    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| eGain Corp                                                | eGain Corp                                                                       | CUSIP: 28225C806<br>LEI: 25490048ASFEJOENUI20 | Long             | EC               | CORP              | US        |        1100 | NS      | $6875.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| VAT GROUP AG                                              | VAT GROUP AG                                                                     | CUSIP: 000000000<br>LEI: 529900MVFK7NVALR7Y83 | Short            | EC               | CORP              | CH        |         -90 | NS      | $-38135.90    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| iHeartMedia Inc                                           | iHeartMedia Inc                                                                  | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2000 | NS      | $3520.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT APR 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-24800.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Gap Inc/The                                               | Gap Inc/The                                                                      | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Short            | EC               | CORP              | US        |       -4400 | NS      | $-95964.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Global Industrial Co                                      | Global Industrial Co                                                             | CUSIP: 37892E102<br>LEI: 5493000GO8Z3HEWCGE46 | Long             | EC               | CORP              | US        |         700 | NS      | $18907.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT MAY27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $10250.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Terex Corp                                                | Terex Corp                                                                       | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |         500 | NS      | $23345.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kyndryl Holdings Inc                                      | Kyndryl Holdings Inc                                                             | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Short            | EC               | CORP              | US        |       -4700 | NS      | $-197212.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Jazz Pharmaceuticals PLC                                  | Jazz Pharmaceuticals PLC                                                         | CUSIP: 000000000<br>LEI: 635400GAUMJCLEZRRV50 | Short            | EC               | CORP              | IE        |        -600 | NS      | $-63672.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Solid Biosciences Inc                                     | Solid Biosciences Inc                                                            | CUSIP: 83422E204<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1027 | NS      | $-5001.49     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | US TSY NOTE 5YR SEP 25                                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         489 | NC      | $577452.99    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-XAUUSD(USD) 07/18/25 3500C                                                    | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DCO              |  | US        |        1550 | NC      | $6612.99      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.688495% 08/28/2029 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      500000 | OU      | $4250.75      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Unusual Machines Inc /US                                  | Unusual Machines Inc /US                                                         | CUSIP: 91532F102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -6600 | NS      | $-56562.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Zscaler Inc                                               | Zscaler Inc                                                                      | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |       19900 | NS      | $6247406.00   | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| United Natural Foods Inc                                  | United Natural Foods Inc 2024 Term Loan                                          | CUSIP: 91116KAD7<br>LEI: 549300GKGW6WPZ282D40 | Long             | LON              | CORP              | US        |     2489431 | PA      | $2501878.54   | 0.07%             | 2031-05-01      | Floating      | 9.08%                 | No            | 2                  | On Loan: No      |
| Iron Mountain Inc                                         | Iron Mountain Inc                                                                | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Short            | EC               |  | US        |        -733 | NS      | $-75183.81    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Burke & Herbert Financial Services Corp                   | Burke & Herbert Financial Services Corp                                          | CUSIP: 12135Y108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2690 | NS      | $-160673.70   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Tokyo Electron Ltd                                        | Tokyo Electron Ltd                                                               | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Short            | EC               | CORP              | JP        |       -3600 | NS      | $-689433.48   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Southern Missouri Bancorp Inc                             | Southern Missouri Bancorp Inc                                                    | CUSIP: 843380106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $5478.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.8938% 04/07/2055 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $4167.33      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.892551% 03/18/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |    -3500000 | OU      | $-146533.88   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Wynn Resorts Ltd                                          | Wynn Resorts Ltd                                                                 | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Short            | EC               | CORP              | US        |      -16500 | NS      | $-1545555.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | GASOLINE RBOB (PT VALUE 42000) DEC 25                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -6 | NC      | $-44234.40    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Dec 2026 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     3400000 | OU      | $33390.99     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Bank of America NA                                        | SOLD JPY/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |           1 | NC      | $-9249.30     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Vermilion Energy Inc                                      | Vermilion Energy Inc                                                             | CUSIP: 923725105<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | EC               | CORP              | CA        |       11000 | NS      | $80080.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cidara Therapeutics Inc                                   | Cidara Therapeutics Inc                                                          | CUSIP: 171757206<br>LEI: 549300IHQ9Z7RI1X2D22 | Short            | EC               | CORP              | US        |       -1555 | NS      | $-75744.05    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| EXPRO GROUP HOLDINGS NV                                   | Expro Group Holdings NV                                                          | CUSIP: 000000000<br>LEI: 724500LJYA8QIT73H017 | Short            | EC               | CORP              | NL        |      -19700 | NS      | $-169223.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Alcon AG                                                  | Alcon AG                                                                         | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Short            | EC               | CORP              | CH        |      -26800 | NS      | $-2365904.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Warby Parker Inc                                          | Warby Parker Inc                                                                 | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1000 | NS      | $21930.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Caesars Entertainment Inc                                 | Caesars Entertainment Inc                                                        | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Short            | EC               | CORP              | US        |      -59776 | NS      | $-1697040.64  | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-OA11                                                 | CUSIP: 02151WAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      293635 | PA      | $254467.05    | 0.01%             | 2047-11-25      | Floating      | 5.78%                 | No            | 2                  | On Loan: No      |
| MidOcean Credit CLO                                       | MidOcean Credit CLO XI Ltd                                                       | CUSIP: 59801CAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $998781.00    | 0.03%             | 2036-01-18      | Floating      | 10.27%                | No            | 2                  | On Loan: No      |
| Citigroup Commercial Mortgage Trust                       | Citigroup Commercial Mortgage Trust 2019-C7                                      | CUSIP: 17328CAX0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      697000 | PA      | $461788.99    | 0.01%             | 2072-12-15      | Fixed         | 2.75%                 | No            | 2                  | On Loan: No      |
| Surf Air Mobility Inc                                     | Surf Air Mobility Inc                                                            | CUSIP: 868927203<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -10171 | NS      | $-37530.99    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Kronos Acquisition Holdings Inc.                          | Kronos Acquisition Holdings Inc 2024 Term Loan                                   | CUSIP: 50106JAH9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     3939726 | PA      | $3515220.68   | 0.09%             | 2031-07-08      | Floating      | 8.30%                 | No            | 2                  | On Loan: No      |
| Trinitas CLO Ltd                                          | Trinitas CLO XXVI Ltd                                                            | CUSIP: 89642MAS7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |     1000000 | PA      | $1001494.00   | 0.03%             | 2038-07-20      | Floating      | 7.99%                 | No            | 2                  | On Loan: No      |
| OPAL Fuels Inc                                            | OPAL Fuels Inc                                                                   | CUSIP: 68347P103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2000 | NS      | $-4840.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Paysafe Ltd                                               | Paysafe Ltd                                                                      | CUSIP: 000000000<br>LEI: 2138003K6PVDCI5TBN11 | Long             | EC               | CORP              | BM        |        1475 | NS      | $18614.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pagaya Technologies Ltd                                   | Pagaya Technologies Ltd                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |       15100 | NS      | $321932.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | SOLD GBP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-1445.84     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | US 10YR NOTE (CBT)Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -2365 | NC      | $-3952459.55  | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| AtriCure Inc                                              | AtriCure Inc                                                                     | CUSIP: 04963C209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7200 | NS      | $235944.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | LEAN HOGS (40000) OCT 25                                                         | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |         407 | NC      | $-327372.32   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Palo Alto Networks Inc                                    | Palo Alto Networks Inc                                                           | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Short            | EC               | CORP              | US        |        -709 | NS      | $-145089.76   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.93395% 11/26/2029 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -500000 | OU      | $5547.43      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| American Home Mortgage Investment Trust                   | American Home Mortgage Investment Trust 2004-4                                   | CUSIP: 02660TCK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     7500000 | PA      | $6450570.00   | 0.17%             | 2045-02-25      | Variable      | 6.00%                 | No            | 2                  | On Loan: No      |
| Polus Capital Management                                  | POLUS US CLO I Ltd                                                               | CUSIP: 73163HAA0<br>LEI: 254900NPT7G7FAJXZS09 | Long             | ABS-CBDO         | CORP              | BM        |     1000000 | PA      | $1010126.00   | 0.03%             | 2037-10-20      | Floating      | 11.61%                | No            | 2                  | On Loan: No      |
| QuidelOrtho Corp                                          | QuidelOrtho Corp                                                                 | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Short            | EC               | CORP              | US        |       -7156 | NS      | $-206235.92   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Glaukos Corp                                              | Glaukos Corp                                                                     | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Short            | EC               | CORP              | US        |       -5000 | NS      | $-516450.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT  SEP25C 6                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           1 | NC      | $137.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS SEP 25                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -369 | NC      | $1068104.93   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| ConnectOne Bancorp Inc                                    | ConnectOne Bancorp Inc                                                           | CUSIP: 20786W107<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EC               | CORP              | US        |        2242 | NS      | $51924.72     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Clear Channel Outdoor Holdings Inc                        | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453H106<br>LEI: 254900XBEE6V1ENYS150 | Short            | EC               | CORP              | US        |       -3900 | NS      | $-4563.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      604888 | PA      | $604888.41    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Balboa Bay Loan Funding Ltd                               | Balboa Bay Loan Funding 2023-2 Ltd                                               | CUSIP: 05766MAA2<br>LEI: 549300AVUGQW27DUWV37 | Long             | ABS-CBDO         | CORP              | KY        |     1100000 | PA      | $1099861.40   | 0.03%             | 2036-10-20      | Floating      | 11.52%                | No            | 2                  | On Loan: No      |
| Myriad Genetics Inc                                       | Myriad Genetics Inc                                                              | CUSIP: 62855J104<br>LEI: 52990044IHUOUMETT163 | Long             | EC               | CORP              | US        |        4500 | NS      | $23895.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| OFG Bancorp                                               | OFG Bancorp                                                                      | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |        1100 | NS      | $47080.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Carlyle Group Inc/The                                     | Carlyle Group Inc/The                                                            | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Short            | EC               | CORP              | US        |       -3500 | NS      | $-179900.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  NOV25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          32 | NC      | $303644.96    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsui & Co Ltd                                           | Mitsui & Co Ltd                                                                  | CUSIP: 000000000<br>LEI: 2NRSB4GOU9DD6CNW5R48 | Long             | EC               | CORP              | JP        |        1900 | NS      | $38721.99     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Priority Technology Holdings Inc                          | Priority Technology Holdings Inc                                                 | CUSIP: 74275G107<br>LEI: 549300ZS6DXD7ROBKB40 | Long             | EC               | CORP              | US        |         900 | NS      | $7002.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Allbirds Inc                                              | Allbirds Inc                                                                     | CUSIP: 01675A208<br>LEI: 5299005VZ0KFXF1GL494 | Long             | EC               | CORP              | US        |         395 | NS      | $4198.85      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.11037% 02/26/2035 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -300000 | OU      | $10421.54     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Taseko Mines Ltd                                          | Taseko Mines Ltd                                                                 | CUSIP: 876511106<br>LEI: 549300XKUO1JSLU7KX54 | Short            | EC               | CORP              | CA        |       -4200 | NS      | $-13230.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| RBB Bancorp                                               | RBB Bancorp                                                                      | CUSIP: 74930B105<br>LEI: 549300A23FBFZNGET525 | Long             | EC               | CORP              | US        |         400 | NS      | $6884.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Anchorage Capital CLO LTD                                 | Anchorage Capital Clo 29 Ltd                                                     | CUSIP: 03332RAA1<br>LEI: 213800XVU2BADRNDSO76 | Long             | ABS-CBDO         | CORP              | KY        |     1250000 | PA      | $1250587.50   | 0.03%             | 2037-07-20      | Floating      | 11.11%                | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/25 65P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         105 | NC      | $70350.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pyxis Oncology Inc                                        | Pyxis Oncology Inc                                                               | CUSIP: 747324101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -600 | NS      | $-660.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AbCellera Biologics Inc                                   | AbCellera Biologics Inc                                                          | CUSIP: 00288U106<br>LEI: 9845000861BC95FF9F73 | Long             | EC               | CORP              | CA        |       58500 | NS      | $200655.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.9432% 09/23/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $3500.48      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Virgin Galactic Holdings Inc                              | Virgin Galactic Holdings Inc                                                     | CUSIP: 92766K403<br>LEI: 549300C631IMXCSMN048 | Short            | EC               | CORP              | US        |         -10 | NS      | $-27.30       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| VEON Ltd                                                  | VEON Ltd                                                                         | CUSIP: 91822M502<br>LEI: 5493008CA3NMHYEVT131 | Long             | EC               | CORP              | BM        |         400 | NS      | $18428.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD KRW/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-4115.71     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Ryan Specialty Holdings Inc                               | Ryan Specialty Holdings Inc                                                      | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1200 | NS      | $81588.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEAN MEAL 12/01/25 350C                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |         315 | NC      | $44100.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | Variance Swap - SPX (10.55% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |        2017 | OU      | $7808.72      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.584% 02/26/2035 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |      200000 | OU      | $-2282.18     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.0715% 03/25/2026 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |   -18500000 | OU      | $34708.87     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JUL 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $124575.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Harvard Bioscience Inc                                    | Harvard Bioscience Inc                                                           | CUSIP: 416906105<br>LEI: 549300VLGB1D47GGC642 | Long             | EC               | CORP              | US        |         100 | NS      | $44.38        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Structure Therapeutics Inc                                | Structure Therapeutics Inc                                                       | CUSIP: 86366E106<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -1800 | NS      | $-37332.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MAC Copper Ltd                                            | MAC Copper Ltd                                                                   | CUSIP: 000000000<br>LEI: 984500A55FX8DC465F12 | Short            | EC               | CORP              | JE        |        -700 | NS      | $-8463.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.6293% 09/24/2029 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $757.26       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Pathward Financial Inc                                    | Pathward Financial Inc                                                           | CUSIP: 59100U108<br>LEI: 5493004X52BH1NBLW813 | Short            | EC               | CORP              | US        |      -50254 | NS      | $-3976096.48  | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.398766% 02/26/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      600000 | OU      | $35618.34     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| GLS Auto Receivables Trust                                | GLS Auto Receivables Issuer Trust 2025-2                                         | CUSIP: 37989BAN2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1410000 | PA      | $1459263.99   | 0.04%             | 2032-06-15      | Fixed         | 7.73%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | GALAXY DIGITAL INC-A CFD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |     -553413 | OU      | $-28864.27    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.815005% 04/04/2039 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -200000 | OU      | $-11906.93    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| MGM Resorts International                                 | MGM Resorts International                                                        | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Short            | EC               | CORP              | US        |      -41600 | NS      | $-1430624.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Toll Brothers Inc                                         | Toll Brothers Inc                                                                | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Short            | EC               | CORP              | US        |        -969 | NS      | $-110591.97   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Windtree Therapeutics Inc                                 | Windtree Therapeutics Inc                                                        | CUSIP: 97382D600<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          38 | NS      | $19.61        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eos Energy Enterprises Inc                                | Eos Energy Enterprises Inc                                                       | CUSIP: 29415C101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -18100 | NS      | $-92672.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | VSTOXX FUT 07/01/25 17P                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |       -1179 | NC      | $-14011.72    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT MAR27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          61 | NC      | $34907.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | WILLIAMS COS INC CFD                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    16114352 | OU      | $620807.53    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.4863% 04/15/2055 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $6486.13      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.8694% 02/23/2029 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     4000000 | OU      | $-57094.75    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Cabaletta Bio Inc                                         | Cabaletta Bio Inc                                                                | CUSIP: 12674W109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        9600 | NS      | $14592.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY NOV 27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $145287.12    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ares Management Corp                                      | Ares Management Corp                                                             | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Short            | EC               | CORP              | US        |      -14000 | NS      | $-2424800.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT SEP 25 4.05P                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         256 | NC      | $1780736.00   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| SFL Corp Ltd                                              | SFL Corp Ltd                                                                     | CUSIP: 000000000<br>LEI: 549300RLYYPSB0C7RH77 | Short            | EC               | CORP              | BM        |       -1000 | NS      | $-8330.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD COP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-4563.56     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Inspire Veterinary Partners Inc                           | Inspire Veterinary Partners Inc                                                  | CUSIP: 45784E304<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-344.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Crowdstrike Holdings Inc                                  | Crowdstrike Holdings Inc                                                         | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Short            | EC               | CORP              | US        |        -491 | NS      | $-250071.21   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| MicroCloud Hologram Inc                                   | MicroCloud Hologram Inc                                                          | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -1367 | NS      | $-6670.96     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Immunovant Inc                                            | Immunovant Inc                                                                   | CUSIP: 45258J102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -500 | NS      | $-8000.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.692% 04/12/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-1305.85     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCI Industries                                            | LCI Industries                                                                   | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Short            | EC               | CORP              | US        |       -1500 | NS      | $-136785.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT MAY 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $28475.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Aclaris Therapeutics Inc                                  | Aclaris Therapeutics Inc                                                         | CUSIP: 00461U105<br>LEI: 5493000B2LQ9QTW1DF52 | Long             | EC               | CORP              | US        |       12200 | NS      | $17324.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| 8x8 Inc                                                   | 8x8 Inc                                                                          | CUSIP: 282914100<br>LEI: 254900XWSOC5U1BRW939 | Long             | EC               | CORP              | US        |       14300 | NS      | $28028.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-23CB                                                 | CUSIP: 02151EAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1788964 | PA      | $635983.72    | 0.02%             | 2037-09-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.3538% 07/10/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-2297.72     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |      200000 | PA      | $193279.08    | 0.01%             | 2042-04-25      | Fixed         | 8.25%                 | Yes           | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.494394% 03/04/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -500000 | OU      | $-37728.81    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Pool Corp                                                 | Pool Corp                                                                        | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Short            | EC               | CORP              | US        |       -6700 | NS      | $-1952916.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Groupon Inc                                               | Groupon Inc                                                                      | CUSIP: 399473206<br>LEI: 5299005W5W1R5POQJL03 | Long             | EC               | CORP              | US        |          22 | NS      | $735.90       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MHC Commercial Mortgage Trust                             | MHC Trust 2021-MHC2                                                              | CUSIP: 55293AAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      265600 | PA      | $265846.48    | 0.01%             | 2038-05-15      | Floating      | 6.38%                 | No            | 2                  | On Loan: No      |
| OPTIV SECURITY INC                                        | Optiv Security Inc 2023 Term Loan                                                | CUSIP: 68405PAB8<br>LEI: 549300EMRBO1UNORKL53 | Long             | LON              | CORP              | US        |     1374434 | PA      | $1101018.11   | 0.03%             | 2026-07-31      | Floating      | 9.53%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.5765% 08/05/2025 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     7000000 | OU      | $-7946.75     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| CoreVest American Finance Ltd                             | Corevest American Finance 2020-4 Trust                                           | CUSIP: 21873AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      344004 | PA      | $2973.91      | 0.00%             | 2052-12-15      | Variable      | 3.96%                 | No            | 2                  | On Loan: No      |
| Crescent Energy Co                                        | Crescent Energy Co                                                               | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       33255 | NS      | $285993.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nexa Resources SA                                         | Nexa Resources SA                                                                | CUSIP: 000000000<br>LEI: 549300QRMRHM7GAU7L47 | Long             | EC               | CORP              | LU        |         500 | NS      | $2480.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FTC Solar Inc                                             | FTC Solar Inc                                                                    | CUSIP: 30320C301<br>LEI: 5493009MODNZ2HMPX761 | Short            | EC               | CORP              | US        |       -2134 | NS      | $-9667.02     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | TTF NATURAL GAS BASE LOAD (FUTION) 74 10/01/25 50C                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          60 | NC      | $-336882.63   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                   | Saluda Grade Alternative Mortgage Trust 2023-FIG3                                | CUSIP: 79582AAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1332784 | PA      | $1365333.06   | 0.04%             | 2053-08-25      | Fixed         | 7.71%                 | No            | 2                  | On Loan: No      |
| Sirius XM Holdings Inc                                    | Sirius XM Holdings Inc                                                           | CUSIP: 829933100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -19 | NS      | $-436.43      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Northpointe Bancshares Inc                                | Northpointe Bancshares Inc                                                       | CUSIP: 66661N886<br>LEI: 549300EYMKMD4WKEKP72 | Long             | EC               | CORP              | US        |       40434 | NS      | $554350.14    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | US        |           1 | NC      | $-370.09      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Vicor Corp                                                | Vicor Corp                                                                       | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |         600 | NS      | $27216.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CPS Auto Trust                                            | CPS Auto Receivables Trust 2024-D                                                | CUSIP: 22411JAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $1012961.00   | 0.03%             | 2032-06-15      | Fixed         | 7.13%                 | No            | 2                  | On Loan: No      |
| Champion Homes Inc                                        | Champion Homes Inc                                                               | CUSIP: 830830105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-12522.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MaxLinear Inc                                             | MaxLinear Inc                                                                    | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |       14700 | NS      | $208887.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| MFT Trust                                                 | MFT Trust 2020-ABC                                                               | CUSIP: 55317BAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    20401000 | PA      | $123691.26    | 0.00%             | 2042-02-10      | Variable      | 0.23%                 | No            | 2                  | On Loan: No      |
| Energy Select Sector SPDR Fund                            | Energy Select Sector SPDR Fund                                                   | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Short            | EC               | RF                | US        |      -13812 | NS      | $-1171395.72  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                     | Wells Fargo Commercial Mortgage Trust 2025-5C4                                   | CUSIP: 949931AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $96876.00     | 0.00%             | 2058-05-15      | Variable      | 2.45%                 | No            | 2                  | On Loan: No      |
| RFR Trust                                                 | RFR Trust 2025-SGRM                                                              | CUSIP: 74984NAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1062000 | PA      | $1080264.27   | 0.03%             | 2041-03-11      | Variable      | 7.51%                 | No            | 2                  | On Loan: No      |
| Merit                                                     | MHP 2022-MHIL                                                                    | CUSIP: 55293DAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      626400 | PA      | $625093.33    | 0.02%             | 2027-01-15      | Floating      | 8.27%                 | No            | 2                  | On Loan: No      |
| Legalzoom.com Inc                                         | Legalzoom.com Inc                                                                | CUSIP: 52466B103<br>LEI: 5493000L8EBF74Y9JZ48 | Long             | EC               | CORP              | US        |        2500 | NS      | $22275.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.0431% 08/01/2029 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $7156.51      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Annaly Capital Management Inc                             | Annaly Capital Management Inc                                                    | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Short            | EC               |  | US        |      -21950 | NS      | $-413099.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| S&P Global Inc                                            | S&P Global Inc                                                                   | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Short            | EC               | CORP              | US        |        -214 | NS      | $-112840.06   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Mativ Holdings Inc                                        | Mativ Holdings Inc                                                               | CUSIP: 808541106<br>LEI: 549300Z1FU4IDULG1R21 | Short            | EC               | CORP              | US        |       -2500 | NS      | $-17050.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| VAALCO Energy Inc                                         | VAALCO Energy Inc                                                                | CUSIP: 91851C201<br>LEI: 549300CFHFVIWB8M6T24 | Short            | EC               | CORP              | US        |       -6541 | NS      | $-23613.01    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Peraton Corp                                              | Peraton Corp Term Loan B                                                         | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |       36831 | PA      | $32423.08     | 0.00%             | 2028-02-01      | Floating      | 8.18%                 | No            | 2                  | On Loan: No      |
| Costco Wholesale Corp                                     | Costco Wholesale Corp                                                            | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       10900 | NS      | $10790346.00  | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Gold Royalty Corp                                         | Gold Royalty Corp                                                                | CUSIP: 38071H106<br>LEI: 984500FC5D5B5YDB4B90 | Long             | EC               | CORP              | CA        |        6800 | NS      | $15028.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PMV Pharmaceuticals Inc                                   | PMV Pharmaceuticals Inc                                                          | CUSIP: 69353Y103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5800 | NS      | $6148.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | SO USD_SOFR_P_6.25_20261217_20251217_LCH                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |    35000000 | NC      | $13.73        | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LATAM AIRLINES GROUP SA                                   | Latam Airlines Group SA                                                          | CUSIP: 000000000<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |     4000000 | PA      | $4080000.00   | 0.11%             | 2030-04-15      | Fixed         | 7.88%                 | Yes           | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | SELLCDSITRAXX EUROPE MAIN SERIES 43-V1_100BPS_2030                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    93100000 | OU      | $2371679.67   | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| Hingham Institution For Savings The                       | Hingham Institution For Savings The                                              | CUSIP: 433323102<br>LEI: 2549009GDCGUR2T6KU55 | Long             | EC               | CORP              | US        |       18752 | NS      | $4657059.20   | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | C$ CURRENCY FUT   Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         -44 | NC      | $-6538.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | KODIAK GAS SERVICES INC CFD                                                      | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -1465605 | OU      | $-2247.77     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Sprouts Farmers Market Inc                                | Sprouts Farmers Market Inc                                                       | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |         300 | NS      | $49392.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cava Group Inc                                            | Cava Group Inc                                                                   | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7300 | NS      | $614879.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Oil States International Inc                              | Oil States International Inc                                                     | CUSIP: 678026105<br>LEI: 5493004TF4KQJGMYL777 | Long             | EC               | CORP              | US        |        2700 | NS      | $14472.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ExlService Holdings Inc                                   | ExlService Holdings Inc                                                          | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |        6200 | NS      | $271498.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Axsome Therapeutics Inc                                   | Axsome Therapeutics Inc                                                          | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Short            | EC               | CORP              | US        |        -200 | NS      | $-20878.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Zura Bio Ltd                                              | Zura Bio Ltd                                                                     | CUSIP: 000000000<br>LEI: 549300LQXD6M2MIQFN24 | Long             | EC               | CORP              | KY        |        2300 | NS      | $2415.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FIGRE Trust                                               | FIGRE Trust 2025-HE2                                                             | CUSIP: 31684KAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      506000 | PA      | $505197.99    | 0.01%             | 2055-03-25      | Variable      | 8.73%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT JUN 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-18225.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nomad Foods Ltd                                           | Nomad Foods Ltd                                                                  | CUSIP: 000000000<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VG        |        7700 | NS      | $130823.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Axogen Inc                                                | Axogen Inc                                                                       | CUSIP: 05463X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         900 | NS      | $9765.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-19200.34    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Kornit Digital Ltd                                        | Kornit Digital Ltd                                                               | CUSIP: 000000000<br>LEI: 5299006DPCQWP3VTFK34 | Short            | EC               | CORP              | IL        |        -600 | NS      | $-11946.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    29400000 | OU      | $721680.18    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Leslie's Inc                                              | Leslie's Inc                                                                     | CUSIP: 527064109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       12900 | NS      | $5416.71      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cloudflare Inc                                            | Cloudflare Inc                                                                   | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |        6600 | NS      | $1292478.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC               | BBCMS Mortgage Trust 2025-5C34                                                   | CUSIP: 07337BAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $110118.00    | 0.00%             | 2058-05-15      | Variable      | 2.78%                 | No            | 2                  | On Loan: No      |
| ATI 3 WARRANT                                             | ATI 3 WARRANT                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      100595 | NS      | $0.02         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Haoxi Health Technology Ltd                               | Haoxi Health Technology Ltd                                                      | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -200 | NS      | $-256.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Planet Labs PBC                                           | Planet Labs PBC                                                                  | CUSIP: 72703X106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5600 | NS      | $-34160.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ASURION LLC                                               | Asurion LLC 2024 Term Loan B12                                                   | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     1497981 | PA      | $1459123.76   | 0.04%             | 2030-09-19      | Floating      | 8.58%                 | No            | 2                  | On Loan: No      |
| Williams-Sonoma Inc                                       | Williams-Sonoma Inc                                                              | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Short            | EC               | CORP              | US        |       -3894 | NS      | $-636162.78   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| BBB Foods Inc                                             | BBB Foods Inc                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |       53540 | NS      | $1486270.40   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| NYSE Euronext Liffe                                       | EURIBOR 3MO (LIFFE) DEC 26                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         470 | NC      | $-56991.39    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Babson CLO Ltd                                            | Barings CLO Ltd 2023-III                                                         | CUSIP: 067932AJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1501479.00   | 0.04%             | 2036-10-15      | Floating      | 8.76%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | SANDISK CORPORATION CFD                                                          | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |    -4246060 | OU      | $174219.97    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CBB INTL SUKUK PROG WLL                                   | CBB International Sukuk Programme Co WLL                                         | CUSIP: 000000000<br>LEI: 5493006IRJ2IWXTNIM16 | Short            | DBT              | NUSS              | BH        |    -7453000 | PA      | $-7447933.31  | -0.20%            | 2032-06-05      | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| Silvercrest Asset Management Group Inc                    | Silvercrest Asset Management Group Inc                                           | CUSIP: 828359109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $4758.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vestas Wind Systems A/S                                   | Vestas Wind Systems A/S                                                          | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Short            | EC               | CORP              | DK        |       -3513 | NS      | $-52768.60    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.789% 09/01/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -100000 | OU      | $-16076.87    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| RIDE 2025-SHRE                                            | RIDE 2025-SHRE                                                                   | CUSIP: 765692AJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $1007794.00   | 0.03%             | 2047-02-14      | Variable      | 8.07%                 | No            | 2                  | On Loan: No      |
| Great Southern Bancorp Inc                                | Great Southern Bancorp Inc                                                       | CUSIP: 390905107<br>LEI: 5493000ZL7DLNMN1AB26 | Long             | EC               | CORP              | US        |         100 | NS      | $5878.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS              | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-11 Trust  | CUSIP: 93934FHW5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      206402 | PA      | $175924.63    | 0.00%             | 2036-01-25      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| JFrog Ltd                                                 | JFrog Ltd                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |        1300 | NS      | $57044.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradyne Inc                                              | Teradyne Inc                                                                     | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |         300 | NS      | $26976.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Clarivate PLC                                             | Clarivate PLC                                                                    | CUSIP: 000000000<br>LEI: 549300WDHIIODXFO0R55 | Short            | EC               | CORP              | JE        |      -66500 | NS      | $-285950.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.37% 07/13/2054 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1300000 | OU      | $4534.98      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Jaguar Health Inc                                         | Jaguar Health Inc                                                                | CUSIP: 47010C888<br>LEI: 549300DJ0Q0D9TVY5O19 | Short            | EC               | CORP              | US        |         -19 | NS      | $-47.88       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Green Plains Inc                                          | Green Plains Inc                                                                 | CUSIP: 393222104<br>LEI: VJ5WLTHARBSDR14KIZ98 | Long             | EC               | CORP              | US        |       14400 | NS      | $86832.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.0155% 04/02/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-2888.66     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Universal Insurance Holdings Inc                          | Universal Insurance Holdings Inc                                                 | CUSIP: 91359V107<br>LEI: 529900GGAZ6WVUCWQM46 | Long             | EC               | CORP              | US        |        4200 | NS      | $116466.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-16CB                                                 | CUSIP: 02152AAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      371665 | PA      | $236057.97    | 0.01%             | 2037-08-25      | Floating      | 4.83%                 | No            | 2                  | On Loan: No      |
| BlackSky Technology Inc                                   | BlackSky Technology Inc                                                          | CUSIP: 09263B207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4458 | NS      | $-91745.64    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AudioCodes Ltd                                            | AudioCodes Ltd                                                                   | CUSIP: 000000000<br>LEI: 529900TA48138NEVR854 | Long             | EC               | CORP              | IL        |        1300 | NS      | $12766.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                                                     | CUSIP: 06738E204<br>LEI: 213800LBQA1Y9L22JB70 | Short            | EC               | CORP              | GB        |      -64500 | NS      | $-1199055.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Hooker Furnishings Corp                                   | Hooker Furnishings Corp                                                          | CUSIP: 439038100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $2116.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY DEC 27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $363987.12    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Atmus Filtration Technologies Inc                         | Atmus Filtration Technologies Inc                                                | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          30 | NS      | $1092.60      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD SEK/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-3162.63     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS DEC 25                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         175 | NC      | $-541066.39   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.06615% 02/06/2030 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      500000 | OU      | $-13174.14    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Markel Group Inc                                          | Markel Group Inc                                                                 | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Short            | EC               | CORP              | US        |        -200 | NS      | $-399472.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-29T1                                                 | CUSIP: 02147PBE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      565911 | PA      | $140887.56    | 0.00%             | 2036-10-25      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Liberty Media Corp-Liberty Live                           | Liberty Media Corp-Liberty Live                                                  | CUSIP: 531229748<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3290 | NS      | $261489.20    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.88675% 06/08/2054 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -100000 | OU      | $-12848.94    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) OCT 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          77 | NC      | $-18271.06    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| 1261229 BC LTD                                            | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     3183000 | PA      | $3210914.85   | 0.09%             | 2032-04-15      | Fixed         | 10.00%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.57775% 09/17/2054 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -100000 | OU      | $-20988.46    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Atlantic Union Bankshares Corp                            | Atlantic Union Bankshares Corp                                                   | CUSIP: 04911A107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -30 | NS      | $-938.40      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Palmer Square CLO Ltd                                     | Palmer Square CLO 2018-2 Ltd                                                     | CUSIP: 69688MAU9<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1001826.00   | 0.03%             | 2037-04-16      | Floating      | 8.16%                 | No            | 2                  | On Loan: No      |
| AudioEye Inc                                              | AudioEye Inc                                                                     | CUSIP: 050734201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $1165.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division          | ICE 3MTH SONIA MAR 27                                                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              |  | US        |        -331 | NC      | $-121729.40   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Masimo Corp                                               | Masimo Corp                                                                      | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Short            | EC               | CORP              | US        |       -1700 | NS      | $-285974.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Summit Therapeutics Inc                                   | Summit Therapeutics Inc                                                          | CUSIP: 86627T108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -86400 | NS      | $-1838592.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Old National Bancorp/IN                                   | Old National Bancorp/IN                                                          | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Short            | EC               | CORP              | US        |      -30600 | NS      | $-653004.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Teladoc Health Inc                                        | Teladoc Health Inc                                                               | CUSIP: 87918A105<br>LEI: 549300I2PVFBC9MFAC61 | Long             | EC               | CORP              | US        |       34000 | NS      | $296140.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-17CB                                                 | CUSIP: 02151HAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      806133 | PA      | $366298.09    | 0.01%             | 2037-08-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| NXP Semiconductors NV                                     | NXP Semiconductors NV                                                            | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Short            | EC               | CORP              | NL        |       -9700 | NS      | $-2119353.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.733% 04/12/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-164.50      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | GLOBEX NATURL GAS NOV25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -12 | NC      | $6500.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ECHOSTAR CORP                                             | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |      429796 | PA      | $442689.88    | 0.01%             | 2029-11-30      | Fixed         | 10.75%                | No            | N/A                | On Loan: No      |
| SCENERY JOURNEY LTD                                       | Scenery Journey Ltd                                                              | CUSIP: 000000000<br>LEI: 549300Q2FGQXKG7X0I83 | Long             | DBT              | CORP              | VG        |     3607000 | PA      | $36070.00     | 0.00%             | 2022-10-24      | None          | 0.00%                 | Yes           | 2                  | On Loan: No      |
| AFRICAN EXPORT-IMPORT BA                                  | African Export-Import Bank/The                                                   | CUSIP: 000000000<br>LEI: 21380068LJCDYA42GJ76 | Short            | DBT              | NUSS              | XX        |    -2386000 | PA      | $-2060644.62  | -0.05%            | 2031-05-17      | Fixed         | 3.80%                 | Yes           | 2                  | On Loan: No      |
| Black Diamond Therapeutics Inc                            | Black Diamond Therapeutics Inc                                                   | CUSIP: 09203E105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -17700 | NS      | $-43896.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust               | MF1 2022-FL8 Ltd                                                                 | CUSIP: 55284JAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      847000 | PA      | $842039.12    | 0.02%             | 2037-02-19      | Floating      | 6.52%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | JPN YEN CURR FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         166 | NC      | $60744.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Home BancShares Inc/AR                                    | Home BancShares Inc/AR                                                           | CUSIP: 436893200<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -92454 | NS      | $-2631240.84  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| GRAIL Inc                                                 | GRAIL Inc                                                                        | CUSIP: 384747101<br>LEI: 2549009XSNESW3VE8024 | Long             | EC               | CORP              | US        |         600 | NS      | $30852.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chipotle Mexican Grill Inc                                | Chipotle Mexican Grill Inc                                                       | CUSIP: 169656105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -61800 | NS      | $-3470070.00  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 1.62% 07/25/2026 CMD                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     1900000 | OU      | $46008.00     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Marqeta Inc                                               | Marqeta Inc                                                                      | CUSIP: 57142B104<br>LEI: 254900UZARK0FMZGZE18 | Long             | EC               | CORP              | US        |      487530 | NS      | $2842299.90   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Eton Pharmaceuticals Inc                                  | Eton Pharmaceuticals Inc                                                         | CUSIP: 29772L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         700 | NS      | $9975.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GD Culture Group Ltd                                      | GD Culture Group Ltd                                                             | CUSIP: 19200A204<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3000 | NS      | $-11280.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Electronic Arts Inc                                       | Electronic Arts Inc                                                              | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Short            | EC               | CORP              | US        |       -1402 | NS      | $-223899.40   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| MICHAELS COS INC/THE                                      | Michaels Cos Inc/The                                                             | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |     7046000 | PA      | $4615130.00   | 0.12%             | 2029-05-01      | Fixed         | 7.88%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-58793.49    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Methode Electronics Inc                                   | Methode Electronics Inc                                                          | CUSIP: 591520200<br>LEI: 529900VM413LGLUS3F07 | Long             | EC               | CORP              | US        |        3000 | NS      | $28530.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Arch Capital Group Ltd                                    | Arch Capital Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |      103800 | NS      | $9450990.00   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Ultralife Corp                                            | Ultralife Corp                                                                   | CUSIP: 903899102<br>LEI: 529900NVAFLKA00F3U05 | Long             | EC               | CORP              | US        |         500 | NS      | $4490.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nexstar Media Group Inc                                   | Nexstar Media Group Inc                                                          | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Short            | EC               | CORP              | US        |       -1711 | NS      | $-295917.45   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New Mountain Finance Corp                                 | New Mountain Finance Corp                                                        | CUSIP: 647551100<br>LEI: 549300L1MPTT1H7SES77 | Long             | EC               | CORP              | US        |        6196 | NS      | $65367.80     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| OceanFirst Financial Corp                                 | OceanFirst Financial Corp                                                        | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3300 | NS      | $58113.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlas CC Acquisition Corp                                 | Atlas CC Acquisition Corp Term Loan C                                            | CUSIP: 04921TAC8<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |      239519 | PA      | $123850.37    | 0.00%             | 2028-05-25      | Floating      | 8.84%                 | No            | 2                  | On Loan: No      |
| Advantage Solutions Inc                                   | Advantage Solutions Inc                                                          | CUSIP: 00791N102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -6200 | NS      | $-8184.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Voyager Technologies Inc                                  | Voyager Technologies Inc                                                         | CUSIP: 92892B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       39905 | NS      | $1566271.25   | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| NIKE Inc                                                  | NIKE Inc                                                                         | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |       46300 | NS      | $3289152.00   | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| HalseyPoint CLO Ltd.                                      | HalseyPoint CLO 4 Ltd                                                            | CUSIP: 40637NAA4<br>LEI: 549300CMJUK1VCINNF57 | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1494229.50   | 0.04%             | 2034-04-20      | Floating      | 11.24%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.7065% 10/17/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $4675.75      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| SKF AB                                                    | SKF AB-B SHARES                                                                  | CUSIP: 000000000<br>LEI: 549300B6HWYEE57O8J84 | Short            | EC               | CORP              | SE        |       -1382 | NS      | $-31744.96    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Huntington Ingalls Industries Inc                         | Huntington Ingalls Industries Inc                                                | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Short            | EC               | CORP              | US        |        -181 | NS      | $-43704.26    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.33% 06/26/2054 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1300000 | OU      | $8100.84      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| DraftKings Inc                                            | DraftKings Inc                                                                   | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Short            | EC               | CORP              | US        |      -52730 | NS      | $-2261589.70  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Rimini Street Inc                                         | Rimini Street Inc                                                                | CUSIP: 76674Q107<br>LEI: 54930042ITIRGVM4HY55 | Long             | EC               | CORP              | US        |        1900 | NS      | $7163.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| OptimizeRx Corp                                           | OptimizeRx Corp                                                                  | CUSIP: 68401U204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $1350.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JUN 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-21400.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Navitas Semiconductor Corp                                | Navitas Semiconductor Corp                                                       | CUSIP: 63942X106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -65200 | NS      | $-427060.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| ACV Auctions Inc                                          | ACV Auctions Inc                                                                 | CUSIP: 00091G104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -8000 | NS      | $-129760.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Forestar Group Inc                                        | Forestar Group Inc                                                               | CUSIP: 346232101<br>LEI: 549300BC2UB0GHV60V70 | Long             | EC               | CORP              | US        |        1200 | NS      | $24000.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.674748% 03/15/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      200000 | OU      | $5383.44      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | KRATOS DEFENSE & SECURITY CFD                                                    | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |    -5896242 | OU      | $-282397.22   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Harmony Gold Mining Co Ltd                                | Harmony Gold Mining Co Ltd                                                       | CUSIP: 413216300<br>LEI: 378900986D05F0C29811 | Short            | EC               | CORP              | ZA        |       -6000 | NS      | $-83820.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.4841% 04/03/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-10525.36    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.732% 04/07/2040 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     3500000 | OU      | $67969.05     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BX Trust                                                  | BX Commercial Mortgage Trust 2021-CIP                                            | CUSIP: 12434FAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      134586 | PA      | $134273.20    | 0.00%             | 2038-12-15      | Floating      | 7.65%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEAN MEAL AUG 25                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        -241 | NC      | $607320.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| New Residential Mortgage Loan Trust                       | New Residential Mortgage Loan Trust 2022-NQM1                                    | CUSIP: 64830JAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $60184.80     | 0.00%             | 2061-04-25      | Variable      | 3.79%                 | No            | 2                  | On Loan: No      |
| RR Ltd                                                    | RR15 Ltd                                                                         | CUSIP: 74980XAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $998763.00    | 0.03%             | 2036-04-15      | Floating      | 7.42%                 | No            | 2                  | On Loan: No      |
| Organogenesis Holdings Inc                                | Organogenesis Holdings Inc                                                       | CUSIP: 68621F102<br>LEI: 549300RLC2O821TU6941 | Short            | EC               | CORP              | US        |        -500 | NS      | $-1830.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| PRA Group Inc                                             | PRA Group Inc                                                                    | CUSIP: 69354N106<br>LEI: 549300Q5HW3JSSB86K27 | Short            | EC               | CORP              | US        |        -200 | NS      | $-2950.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fort Washington CLO                                       | Fort Washington CLO 2021-2 LTD                                                   | CUSIP: 34918TAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1473423.00   | 0.04%             | 2034-10-20      | Floating      | 11.14%                | No            | 2                  | On Loan: No      |
| Solidion Technology Inc                                   | Solidion Technology Inc                                                          | CUSIP: 834212201<br>LEI: 529900AIFRB6J51X8T59 | Short            | EC               | CORP              | US        |        -100 | NS      | $-394.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.78375% 06/07/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $-1052.47     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Lehman Mortgage Trust                                     | Lehman Mortgage Trust 2007-1                                                     | CUSIP: 52521FAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      480140 | PA      | $464830.04    | 0.01%             | 2037-02-25      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| Eledon Pharmaceuticals Inc                                | Eledon Pharmaceuticals Inc                                                       | CUSIP: 28617K101<br>LEI: 549300S17CAM13O43606 | Short            | EC               | CORP              | US        |        -900 | NS      | $-2439.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chimera Investment Corp                                   | Chimera Investment Corp                                                          | CUSIP: 16934Q802<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EC               |  | US        |        1598 | NS      | $22164.26     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Honda Motor Co Ltd                                        | Honda Motor Co Ltd                                                               | CUSIP: 438128308<br>LEI: 549300P7ZYCQJ36CCS16 | Short            | EC               | CORP              | JP        |      -12800 | NS      | $-369024.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| SmartFinancial Inc                                        | SmartFinancial Inc                                                               | CUSIP: 83190L208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3315 | NS      | $111980.70    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT  OCT25P 3.5                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         100 | NC      | $347700.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellation Energy Corp                                 | Constellation Energy Corp                                                        | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Short            | EC               | CORP              | US        |      -17500 | NS      | $-5648300.00  | -0.15%            |  |  |  | No            | 1                  | On Loan: No      |
| Proficient Auto Logistics Inc                             | Proficient Auto Logistics Inc                                                    | CUSIP: 74317M104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-726.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Piedmont Lithium Inc                                      | Piedmont Lithium Inc                                                             | CUSIP: 72016P105<br>LEI: 254900QJ73581MY1JN11 | Short            | EC               | CORP              | US        |       -4600 | NS      | $-26772.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Energy Fuels Inc/Canada                                   | Energy Fuels Inc/Canada                                                          | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Short            | EC               | CORP              | CA        |      -59700 | NS      | $-343275.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT NOV 25 3.2P                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -300 | NC      | $-484200.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.79625% 06/19/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      300000 | OU      | $-7346.80     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| GACI FIRST INVESTMENT                                     | Gaci First Investment Co                                                         | CUSIP: 000000000<br>LEI: 558600TU1PWGNLZ3XM88 | Long             | DBT              | CORP              | KY        |     7473000 | PA      | $6165225.00   | 0.16%             | 2122-10-13      | Fixed         | 5.38%                 | Yes           | 2                  | On Loan: No      |
| A O Smith Corp                                            | A O Smith Corp                                                                   | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Short            | EC               | CORP              | US        |        -614 | NS      | $-40259.98    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS NOV 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -53 | NC      | $231290.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Century Therapeutics Inc                                  | Century Therapeutics Inc                                                         | CUSIP: 15673T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5100 | NS      | $2849.41      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MicroAlgo Inc                                             | MicroAlgo Inc                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -8202 | NS      | $-4175.64     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Board of Trade                                   | COCOA SEP 25                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          -2 | NC      | $3470.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| D-Wave Quantum Inc                                        | D-Wave Quantum Inc                                                               | CUSIP: 26740W109<br>LEI: 5493001U37G4PRD4GW95 | Short            | EC               | CORP              | US        |      -25300 | NS      | $-370392.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Aydem Yenilenebilir Enerji AS                             | AYDEM YENILENEBILIR ENER 7.75 02/02/27 REGS                                      | CUSIP: 000000000<br>LEI: 9845009C50EDA74OA532 | Long             | ABS-MBS          | CORP              | TR        |     7008300 | PA      | $6936604.66   | 0.18%             | 2027-02-02      | None          | 0.00%                 | Yes           | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 60C                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |       -1315 | NC      | $-35505.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Amphenol Corp                                             | Amphenol Corp                                                                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Short            | EC               | CORP              | US        |       -1777 | NS      | $-175478.75   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 4.2125% 04/18/2026 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      500000 | OU      | $-672.36      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| QuantumScape Corp                                         | QuantumScape Corp                                                                | CUSIP: 74767V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       11800 | NS      | $79296.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |     1188000 | PA      | $1056390.53   | 0.03%             | 2034-01-24      | Fixed         | 2.63%                 | Yes           | 2                  | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                   | Saluda Grade Alternative Mortgage Trust 2023-FIG4                                | CUSIP: 79581UAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      820949 | PA      | $852732.68    | 0.02%             | 2053-11-25      | Variable      | 8.01%                 | No            | 2                  | On Loan: No      |
| Arbutus Biopharma Corp                                    | Arbutus Biopharma Corp                                                           | CUSIP: 03879J100<br>LEI: 25490064CESONAUIAS23 | Short            | EC               | CORP              | CA        |       -1500 | NS      | $-4635.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Euronext Paris Matif                                      | CAC40 10 EURO FUT Jul25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | FR        |          45 | NC      | $-3180.47     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| UMBS, TBA                                                 | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F052672<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   171000000 | PA      | $170979993.00 | 4.55%             | 2054-07-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Burlington Stores Inc                                     | Burlington Stores Inc                                                            | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |        3149 | NS      | $732583.36    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Shopify Inc                                               | Shopify Inc                                                                      | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Short            | EC               | CORP              | CA        |      -72430 | NS      | $-8354800.50  | -0.22%            |  |  |  | No            | 1                  | On Loan: No      |
| Uxin Ltd                                                  | Uxin Ltd                                                                         | CUSIP: 91818X306<br>LEI: 549300OV7Z440PI54J04 | Short            | EC               | CORP              | KY        |       -1288 | NS      | $-4739.84     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.538148% 02/22/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      300000 | OU      | $12923.01     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HilleVax Inc                                              | HilleVax Inc                                                                     | CUSIP: 43157M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2200 | NS      | $4378.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Guardforce AI Co Ltd                                      | Guardforce AI Co Ltd                                                             | CUSIP: 000000000<br>LEI: 25490014E64X3SIYL889 | Short            | EC               | CORP              | KY        |       -2500 | NS      | $-2875.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | Euro-BTP Future   Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         353 | NC      | $68845.28     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TrueCar Inc                                               | TrueCar Inc                                                                      | CUSIP: 89785L107<br>LEI: 549300KK16488YXWVE52 | Long             | EC               | CORP              | US        |         600 | NS      | $1140.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| HubSpot Inc                                               | HubSpot Inc                                                                      | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |        2746 | NS      | $1528505.98   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | SOYBEAN OIL OPTIONS DEC 25 70C                                                   | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DCO              |  | US        |         -31 | NC      | $-10695.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cenovus Energy Inc                                        | Cenovus Energy Inc                                                               | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Short            | EC               | CORP              | CA        |       -3600 | NS      | $-48960.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Viridian Therapeutics Inc                                 | Viridian Therapeutics Inc                                                        | CUSIP: 92790C104<br>LEI: 549300C775BNYF550E70 | Long             | EC               | CORP              | US        |        2300 | NS      | $32154.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GRI Bio Inc                                               | GRI Bio Inc                                                                      | CUSIP: 3622AW403<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -35 | NS      | $-45.15       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Merit Medical Systems Inc                                 | Merit Medical Systems Inc                                                        | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |        7200 | NS      | $673056.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137F62Q9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      652000 | PA      | $74790.27     | 0.00%             | 2048-10-25      | Variable      | 2.78%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.474% 10/11/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -2800000 | OU      | $3328.26      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Olin Corp                                                 | Olin Corp                                                                        | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |        2000 | NS      | $40180.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| C&S GROUP ENTERPRISES LL                                  | C&S Group Enterprises LLC                                                        | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      126000 | PA      | $113767.36    | 0.00%             | 2028-12-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Braskem SA                                                | Braskem SA                                                                       | CUSIP: 105532105<br>LEI: 549300RPMQUFGBB7EY44 | Short            | EC               | CORP              | BR        |       -2700 | NS      | $-8856.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Freeport-McMoRan Inc                                      | Freeport-McMoRan Inc                                                             | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Short            | EC               | CORP              | US        |      -82842 | NS      | $-3591200.70  | -0.10%            |  |  |  | No            | N/A                | On Loan: No      |
| Perspective Therapeutics Inc                              | Perspective Therapeutics Inc                                                     | CUSIP: 46489V302<br>LEI: 5493005LRKM6BCABC605 | Long             | EC               | CORP              | US        |        9910 | NS      | $34090.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE SPX VOLATILITY INDX JUL 25 26C                                              | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |         700 | NC      | $25900.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | ASPEN INSURANCE HOLDINGS-A CFD                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | BM        |     -368764 | OU      | $-11109.89    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT  AUG25C 4.25                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -21 | NC      | $-8526.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SAMARCO MINERACAO SA                                      | Samarco Mineracao SA                                                             | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |     3107781 | PA      | $3055120.96   | 0.08%             | 2031-06-30      | Fixed         | 9.50%                 | Yes           | 2                  | On Loan: No      |
| MH Sub I, LLC                                             | MH Sub I, LLC 2023 Term Loan                                                     | CUSIP: 000000000<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |      671758 | PA      | $629564.73    | 0.02%             | 2028-05-03      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| Sage Therapeutics Inc                                     | Sage Therapeutics Inc                                                            | CUSIP: 78667J108<br>LEI: 5493000JX4BJS9W6CN35 | Long             | EC               | CORP              | US        |        3100 | NS      | $28272.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER DEC 26 11500C                                                         | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          40 | NC      | $415120.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                                                    | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |       31918 | NS      | $2716860.16   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| RTX Corp                                                  | RTX Corp                                                                         | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Short            | EC               | CORP              | US        |      -16500 | NS      | $-2409330.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.556% 04/10/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-11759.75    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Harrow Inc                                                | Harrow Inc                                                                       | CUSIP: 415858109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2300 | NS      | $70242.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | MEDIATEK INC CFD (USD)                                                           | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | TW        |     -105381 | OU      | $-1740.90     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT NOK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | NO        |           1 | NC      | $2669.30      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Lennar Corp                                               | Lennar Corp                                                                      | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Short            | EC               | CORP              | US        |       -1019 | NS      | $-112711.59   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.1724% 01/24/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-6479.75     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2005-J9                                                   | CUSIP: 12667GT37<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      465254 | PA      | $242510.51    | 0.01%             | 2035-08-25      | Floating      | 5.13%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD SEK/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-4916.14     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT APR 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $89075.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.8347% 04/08/2055 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $5009.07      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Polaris Inc                                               | Polaris Inc                                                                      | CUSIP: 731068102<br>LEI: 549300QJSN8UVWN1EI78 | Long             | EC               | CORP              | US        |        6800 | NS      | $276420.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| HCA Healthcare Inc                                        | HCA Healthcare Inc                                                               | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Short            | EC               | CORP              | US        |       -3093 | NS      | $-1184928.30  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Chubb Ltd                                                 | Chubb Ltd                                                                        | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |         514 | NS      | $148916.08    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tectonic Therapeutic Inc                                  | Tectonic Therapeutic Inc                                                         | CUSIP: 878972108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          50 | NS      | $993.50       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Hippo Holdings Inc                                        | Hippo Holdings Inc                                                               | CUSIP: 433539202<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1024 | NS      | $-28600.32    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Global Blue Group Holding AG                              | Global Blue Group Holding AG                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |         500 | NS      | $3735.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Earlyworks Co Ltd                                         | Earlyworks Co Ltd                                                                | CUSIP: 27030F202<br>LEI: N/A                  | Short            | EC               | CORP              | JP        |         -40 | NS      | $-72.00       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Turkcell Iletisim Hizmetleri AS                           | Turkcell Iletisim Hizmetleri AS                                                  | CUSIP: 900111204<br>LEI: 7890003EX1LTLS2FFL84 | Long             | EC               | CORP              | TR        |        2300 | NS      | $13915.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT DEC 28                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -20 | NC      | $-13500.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp                                               | Oracle Corp                                                                      | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Short            | EC               | CORP              | US        |       -2600 | NS      | $-568438.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Sagimet Biosciences Inc                                   | Sagimet Biosciences Inc                                                          | CUSIP: 786700104<br>LEI: 2549002OT2F8BV0VPD02 | Short            | EC               | CORP              | US        |       -3300 | NS      | $-25146.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Saxon Asset Securities Trust                              | Saxon Asset Securities Trust 2004-2                                              | CUSIP: 805564QC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      333674 | PA      | $268008.92    | 0.01%             | 2035-08-25      | Variable      | 2.12%                 | No            | 2                  | On Loan: No      |
| Embraer SA                                                | Embraer SA                                                                       | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Short            | EC               | CORP              | BR        |        -100 | NS      | $-5691.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Baozun Inc                                                | Baozun Inc                                                                       | CUSIP: 06684L103<br>LEI: 549300IF0HZ7T4762633 | Long             | EC               | CORP              | KY        |        9400 | NS      | $23500.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sea Ltd                                                   | Sea Ltd                                                                          | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |       34500 | NS      | $5517930.00   | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Oaktree CLO Ltd                                           | Oaktree CLO 2022-2 Ltd                                                           | CUSIP: 67402QAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1002216.00   | 0.03%             | 2037-10-15      | Floating      | 10.66%                | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT JUN 27                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |        1223 | NC      | $773911.71    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| SREIT Trust                                               | SREIT Trust 2021-IND                                                             | CUSIP: 78473JAS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2556000 | PA      | $2538038.99   | 0.07%             | 2038-10-15      | Floating      | 7.69%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) AUG 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         362 | NC      | $-535077.99   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.04918% 11/01/2029 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -500000 | OU      | $8713.62      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| RR Ltd                                                    | RR 34 LTD                                                                        | CUSIP: 74988XAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $1998556.00   | 0.05%             | 2039-10-15      | Floating      | 9.76%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.0207% 02/04/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      300000 | OU      | $-7257.95     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-XAUUSD(USD) 07/18/25 3750C                                                    | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DCO              |  | US        |       -1550 | NC      | $-203.18      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Mr Cooper Group Inc                                       | Mr Cooper Group Inc                                                              | CUSIP: 62482R107<br>LEI: 549300KD8C6DPXYC2M26 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-238736.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| CBAMR Ltd                                                 | CBAMR 2019-9 Ltd                                                                 | CUSIP: 14987UAE1<br>LEI: 254900Q3N8LV0KJICN72 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $998986.00    | 0.03%             | 2037-07-15      | Floating      | 11.31%                | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT AUG27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $1075.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | WISTRON CORP CFD                                                                 | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | TW        |      -45771 | OU      | $-2612.26     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Tandem Diabetes Care Inc                                  | Tandem Diabetes Care Inc                                                         | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |       14100 | NS      | $262824.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Definitive Healthcare Corp                                | Definitive Healthcare Corp                                                       | CUSIP: 24477E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2100 | NS      | $8190.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/25 60P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |        -749 | NC      | $-335210.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Cellectar Biosciences Inc                                 | Cellectar Biosciences Inc                                                        | CUSIP: 15117F880<br>LEI: 5493000NFZCRG7BYQV93 | Long             | EC               | CORP              | US        |           1 | NS      | $7.11         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Casella Waste Systems Inc                                 | Casella Waste Systems Inc                                                        | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Short            | EC               | CORP              | US        |        -900 | NS      | $-103842.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | US TSY NOTE 5YR SEP 25                                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -323 | NC      | $-321098.66   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT SEP 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $132425.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT MAY27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          30 | NC      | $-23850.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.789525% 03/21/2030 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      500000 | OU      | $-7232.85     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.487% 06/30/2038 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     8000000 | OU      | $434183.88    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Bear Stearns Alt-A Trust                                  | Bear Stearns ALT-A Trust 2004-9                                                  | CUSIP: 07386HLH2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      216058 | PA      | $209102.90    | 0.01%             | 2034-09-25      | Variable      | 5.90%                 | No            | 2                  | On Loan: No      |
| Lyra Therapeutics Inc                                     | Lyra Therapeutics Inc                                                            | CUSIP: 55234L204<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -70 | NS      | $-627.20      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (672) FEB 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |        -110 | NC      | $315916.58    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.751% 06/24/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $-47.91       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Beam Therapeutics Inc                                     | Beam Therapeutics Inc                                                            | CUSIP: 07373V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7100 | NS      | $120771.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Denison Mines Corp                                        | Denison Mines Corp                                                               | CUSIP: 248356107<br>LEI: 529900JWGSW17LJK6586 | Short            | EC               | CORP              | CA        |     -119200 | NS      | $-216944.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Stereotaxis Inc                                           | Stereotaxis Inc                                                                  | CUSIP: 85916J409<br>LEI: 549300KPNOKI02O2ZP21 | Short            | EC               | CORP              | US        |        -600 | NS      | $-1272.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.29255% 03/06/2040 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      200000 | OU      | $-948.53      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| MICHAELS COS INC/THE                                      | Michaels Cos Inc/The                                                             | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |     2002000 | PA      | $1600602.61   | 0.04%             | 2028-05-01      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | US        |           1 | NC      | $-1420.69     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| VTR COMUNICACIONES SPA                                    | VTR Comunicaciones SpA                                                           | CUSIP: 000000000<br>LEI: 213800XDZJKMC1AEUV94 | Long             | DBT              | CORP              | CL        |     3800000 | PA      | $3369090.99   | 0.09%             | 2029-04-15      | Fixed         | 4.38%                 | Yes           | 2                  | On Loan: No      |
| Spotify Technology SA                                     | Spotify Technology SA                                                            | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |        3100 | NS      | $2378754.00   | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| London Metal Exchange                                     | LME COPPER DEC 25 10500C                                                         | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          60 | NC      | $391365.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-20                                                   | CUSIP: 02151LAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      858165 | PA      | $310610.23    | 0.01%             | 2047-08-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| Robinhood Markets Inc                                     | Robinhood Markets Inc                                                            | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |       97800 | NS      | $9157014.00   | 0.24%             |  |  |  | No            | N/A                | On Loan: No      |
| Fannie Mae                                                | Fannie Mae REMICS                                                                | CUSIP: 3136BJDJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    24722601 | PA      | $4301608.95   | 0.11%             | 2051-10-25      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Bank of America NA                                        | EO-USDJPY(USD) 09/25/25 140P                                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |     2000000 | OU      | $25810.00     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1853014 | PA      | $1853014.17   | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT MAR 29                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -17 | NC      | $-12050.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Geberit AG                                                | GEBERIT AG-REG                                                                   | CUSIP: 000000000<br>LEI: 52990093Z5OHD6T7BS47 | Short            | EC               | CORP              | CH        |        -103 | NS      | $-81117.27    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Universal Health Services Inc                             | Universal Health Services Inc                                                    | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-217380.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Korro Bio Inc                                             | Korro Bio Inc                                                                    | CUSIP: 500946108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-2498.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Transocean Ltd                                            | Transocean Ltd                                                                   | CUSIP: 000000000<br>LEI: 529900QO4W5DQGBGEF32 | Long             | EC               | CORP              | CH        |      155033 | NS      | $401535.47    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| MidOcean Credit CLO                                       | MidOcean Credit CLO XIX                                                          | CUSIP: 59803HAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $2000000.00   | 0.05%             | 2036-07-20      | Floating      | 8.22%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | Buy SAUDI SNRFOR USD 100 Jun 2035 GOLD_ISDA 1%                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | SA        |    17500000 | OU      | $101692.10    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Sohu.com Ltd                                              | Sohu.com Ltd                                                                     | CUSIP: 83410S108<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -300 | NS      | $-3993.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | US 10YR NOTE (CBT)Dec25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |          25 | NC      | $28515.63     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PetMed Express Inc                                        | PetMed Express Inc                                                               | CUSIP: 716382106<br>LEI: 529900PGHW5ASJ1AZL48 | Long             | EC               | CORP              | US        |         900 | NS      | $2988.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sunrise Communications AG                                 | Sunrise Communications AG                                                        | CUSIP: 867975104<br>LEI: 529900N9U6KXXOUJT875 | Short            | EC               | CORP              | CH        |       -1600 | NS      | $-90480.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TKC Holdings Inc                                          | TKC Holdings Inc 2022 PIK Toggle Holdco Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     3860610 | PA      | $3600018.62   | 0.10%             | 2027-02-15      | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE SPX VOLATILITY INDX JUL 25 38C                                              | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |        -799 | NC      | $-13583.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Blue Bird Corp                                            | Blue Bird Corp                                                                   | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |        1500 | NS      | $64740.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vital Energy Inc                                          | Vital Energy Inc                                                                 | CUSIP: 516806205<br>LEI: 549300X0PTWU2QSLSL14 | Long             | EC               | CORP              | US        |          50 | NS      | $804.50       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     4689295 | PA      | $4689294.51   | 0.12%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.797% 04/12/2055 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      100000 | OU      | $2073.27      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY SEP 27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $6507.12      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.NA.HY.44 USD 500 Jun 2030 Morgan 5%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     5400000 | OU      | $-412996.20   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Krispy Kreme Inc                                          | Krispy Kreme Inc                                                                 | CUSIP: 50101L106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -28000 | NS      | $-81480.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Diageo PLC                                                | Diageo PLC                                                                       | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Short            | EC               | CORP              | GB        |       -2200 | NS      | $-221848.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Root Inc/OH                                               | Root Inc/OH                                                                      | CUSIP: 77664L207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2917 | NS      | $-373288.49   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137H0GB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     8242084 | PA      | $1596565.78   | 0.04%             | 2049-06-25      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| DaVita Inc                                                | DaVita Inc                                                                       | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |          16 | NS      | $2279.20      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| People's Choice Home Loan Securities Trust                | People's Choice Home Loan Securities Trust Series 2005-2                         | CUSIP: 71085PCE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      488000 | PA      | $317084.83    | 0.01%             | 2035-05-25      | Floating      | 5.41%                 | No            | 2                  | On Loan: No      |
| Open Text Corp                                            | Open Text Corp                                                                   | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Short            | EC               | CORP              | CA        |       -1600 | NS      | $-46720.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Teekay Corp Ltd                                           | Teekay Corp Ltd                                                                  | CUSIP: 000000000<br>LEI: YHKQM2RIPKZYOZ6RVZ46 | Long             | EC               | CORP              | BM        |        1900 | NS      | $15675.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Berkshire Hathaway Inc                                    | Berkshire Hathaway Inc                                                           | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Short            | EC               | CORP              | US        |      -11745 | NS      | $-5705368.65  | -0.15%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy BCHINA SNRFOR USD 100 Dec 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | CN        |     8500000 | OU      | $-132080.58   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.501% 04/29/2030 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     4000000 | OU      | $-105522.10   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| B&G Foods Inc                                             | B&G Foods Inc                                                                    | CUSIP: 05508R106<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | EC               | CORP              | US        |       16300 | NS      | $68949.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Lithium Argentina AG                                      | Lithium Argentina AG                                                             | CUSIP: 000000000<br>LEI: 529900Q9ENG7EHHZ5R75 | Short            | EC               | CORP              | CH        |        -900 | NS      | $-1872.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ONE Group Hospitality Inc/The                             | ONE Group Hospitality Inc/The                                                    | CUSIP: 88338K103<br>LEI: 549300QFZD4IE5DEBE98 | Short            | EC               | CORP              | US        |        -400 | NS      | $-1620.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.43645% 04/20/2055 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $7675.43      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.449% 04/03/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      600000 | OU      | $-19814.14    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| GoodRx Holdings Inc                                       | GoodRx Holdings Inc                                                              | CUSIP: 38246G108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       13000 | NS      | $64740.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL FUT SEP 25 55P                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          50 | NC      | $28500.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Steven Madden Ltd                                         | Steven Madden Ltd                                                                | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Short            | EC               | CORP              | US        |       -5400 | NS      | $-129492.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Civitas Resources Inc                                     | Civitas Resources Inc                                                            | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Short            | EC               | CORP              | US        |      -26516 | NS      | $-729720.32   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | MICRON OTC 07/18/25 85C                                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |          30 | NC      | $114997.60    | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Toronto-Dominion Bank/The                                 | Toronto-Dominion Bank/The                                                        | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Short            | EC               | CORP              | CA        |      -36400 | NS      | $-2673580.00  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Contineum Therapeutics Inc                                | Contineum Therapeutics Inc                                                       | CUSIP: 21217B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $1191.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ServisFirst Bancshares Inc                                | ServisFirst Bancshares Inc                                                       | CUSIP: 81768T108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -14248 | NS      | $-1104362.48  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Travere Therapeutics Inc                                  | Travere Therapeutics Inc                                                         | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       20900 | NS      | $309320.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Rent the Runway Inc                                       | Rent the Runway Inc                                                              | CUSIP: 76010Y202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          25 | NS      | $126.50       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER DEC 25 12500C                                                         | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          50 | NC      | $48912.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Garden Stage Ltd                                          | Garden Stage Ltd                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -1727 | NS      | $-2676.85     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Expedia Group Inc                                         | Expedia Group Inc                                                                | CUSIP: 30212P303<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4893 | NS      | $-825351.24   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | VSTOXX Future     Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |        -149 | NC      | $12697.74     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Simon Property Group Inc                                  | Simon Property Group Inc                                                         | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Short            | EC               |  | US        |       -1100 | NS      | $-176836.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cheniere Energy Inc                                       | Cheniere Energy Inc                                                              | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |        7600 | NS      | $1850752.00   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Cia Siderurgica Nacional SA                               | Cia Siderurgica Nacional SA                                                      | CUSIP: 20440W105<br>LEI: 529900K40TEND42S0T46 | Short            | EC               | CORP              | BR        |        -200 | NS      | $-280.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.0414% 10/05/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $2117.90      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Air Products and Chemicals Inc                            | Air Products and Chemicals Inc                                                   | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Short            | EC               | CORP              | US        |       -7800 | NS      | $-2200068.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Mosaic Co/The                                             | Mosaic Co/The                                                                    | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |       27900 | NS      | $1017792.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| First Horizon Corp                                        | First Horizon Corp                                                               | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |      738476 | NS      | $15655691.20  | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD CHF/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-145042.55   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Frequency Electronics Inc                                 | Frequency Electronics Inc                                                        | CUSIP: 358010106<br>LEI: 549300S56SO2JB5JBE31 | Long             | EC               | CORP              | US        |         600 | NS      | $13626.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Allegro MicroSystems Inc                                  | Allegro MicroSystems Inc                                                         | CUSIP: 01749D105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -9800 | NS      | $-335062.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HEATING OIL SEP 25                                                               | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -46 | NC      | $44462.88     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.9724% 03/20/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-1877.09     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Douglas Emmett Inc                                        | Douglas Emmett Inc                                                               | CUSIP: 25960P109<br>LEI: N/A                  | Short            | EC               |  | US        |       -1700 | NS      | $-25568.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nordic American Tankers Ltd                               | Nordic American Tankers Ltd                                                      | CUSIP: 000000000<br>LEI: 213800W4T8AMPKIPIU94 | Long             | EC               | CORP              | BM        |       27000 | NS      | $71010.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Starwood Commercial Mortgage Trust                        | STWD 2021-LIH Mortgage Trust                                                     | CUSIP: 78486EAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      125000 | PA      | $123721.00    | 0.00%             | 2036-11-15      | Floating      | 7.98%                 | No            | 2                  | On Loan: No      |
| Amesite Inc                                               | Amesite Inc                                                                      | CUSIP: 031094204<br>LEI: 549300KJTPTB48X4PR54 | Long             | EC               | CORP              | US        |          33 | NS      | $87.12        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust               | MF1 2022-FL9 LLC                                                                 | CUSIP: 55285AAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1000000 | PA      | $1000768.00   | 0.03%             | 2037-06-19      | Floating      | 8.02%                 | No            | 2                  | On Loan: No      |
| CONTRA ADR GRACELL BI                                     | CONTRA ADR GRACELL BI                                                            | CUSIP: 384CVR015<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |        5000 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Tantech Holdings Ltd                                      | Tantech Holdings Ltd                                                             | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | VG        |        -240 | NS      | $-470.40      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Phunware Inc                                              | Phunware Inc                                                                     | CUSIP: 71948P209<br>LEI: 549300HLAJYKT2FUQZ26 | Short            | EC               | CORP              | US        |       -6852 | NS      | $-21720.84    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| eHealth Inc                                               | eHealth Inc                                                                      | CUSIP: 28238P109<br>LEI: 5299003O8Y5OKXUZQ421 | Long             | EC               | CORP              | US        |        5900 | NS      | $25665.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ginkgo Bioworks Holdings Inc                              | Ginkgo Bioworks Holdings Inc                                                     | CUSIP: 37611X209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         812 | NS      | $9135.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TAJIKISTAN INT BOND                                       | Republic of Tajikistan International Bond                                        | CUSIP: 000000000<br>LEI: 529900W1LSYUF3CYVU10 | Long             | DBT              | NUSS              | TJ        |     2933333 | PA      | $2898133.35   | 0.08%             | 2027-09-14      | Fixed         | 7.13%                 | Yes           | 2                  | On Loan: No      |
| TopBuild Corp                                             | TopBuild Corp                                                                    | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Short            | EC               | CORP              | US        |        -333 | NS      | $-107805.42   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CNX Resources Corp                                        | CNX Resources Corp                                                               | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Short            | EC               | CORP              | US        |       -9201 | NS      | $-309889.68   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS JPY 0.71% 09/29/2027 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | JP        |  1866000000 | OU      | $18845.41     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 32C                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         660 | NC      | $759000.00    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Endeavour Silver Corp                                     | Endeavour Silver Corp                                                            | CUSIP: 29258Y103<br>LEI: 549300IF2E29780PPV02 | Short            | EC               | CORP              | CA        |      -20000 | NS      | $-98400.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | EURO STOXX 50     Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |        -522 | NC      | $-200345.89   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Prologis Inc                                              | Prologis Inc                                                                     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Short            | EC               |  | US        |       -4900 | NS      | $-515088.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Tootsie Roll Industries Inc                               | Tootsie Roll Industries Inc                                                      | CUSIP: 890516107<br>LEI: 529900SBKOV9XX4M4Q35 | Long             | EC               | CORP              | US        |        1445 | NS      | $48335.25     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-31CB                                                 | CUSIP: 02148HAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      485023 | PA      | $214169.35    | 0.01%             | 2036-11-25      | Floating      | 5.18%                 | No            | 2                  | On Loan: No      |
| Realty Income Corp                                        | Realty Income Corp                                                               | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Short            | EC               |  | US        |      -23437 | NS      | $-1350205.57  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Portman Ridge Finance Corp                                | Portman Ridge Finance Corp                                                       | CUSIP: 73688F201<br>LEI: 254900YM5BVQKA01I468 | Long             | EC               | CORP              | US        |        2000 | NS      | $25040.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                   | WaMu Mortgage Pass-Through Certificates Series 2006-AR1 Trust                    | CUSIP: 92925CCG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      177996 | PA      | $177618.59    | 0.00%             | 2046-01-25      | Floating      | 5.47%                 | No            | 2                  | On Loan: No      |
| GSAA Home Equity Trust                                    | GSAA Home Equity Trust 2006-6                                                    | CUSIP: 362334ME1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      775492 | PA      | $218822.18    | 0.01%             | 2036-03-25      | Variable      | 5.73%                 | No            | 2                  | On Loan: No      |
| Macerich Co/The                                           | Macerich Co/The                                                                  | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Short            | EC               |  | US        |      -11800 | NS      | $-190924.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Global Markets Ltd.                             | Buy CHINA SNRFOR USD 100 Dec 2027 CITI_ISDA 1%                                   | CUSIP: 000000000<br>LEI: XKZZ2JZF41MRHTR1V493 | N/A              | DCR              |  | CN        |    23700000 | OU      | $-374960.18   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Cadence Bank                                              | Cadence Bank                                                                     | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Short            | EC               | CORP              | US        |      -30027 | NS      | $-960263.46   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Mind Medicine MindMed Inc                                 | Mind Medicine MindMed Inc                                                        | CUSIP: 60255C885<br>LEI: 549300QY8KN1O6RPFJ13 | Short            | EC               | CORP              | CA        |          -6 | NS      | $-38.94       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.1584% 12/05/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-19313.95    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD THB/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-51593.43    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Alumis Inc                                                | Alumis Inc                                                                       | CUSIP: 022307102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -88 | NS      | $-264.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BioAge Labs Inc                                           | BioAge Labs Inc                                                                  | CUSIP: 09077V100<br>LEI: 529900NG0C40250Z7875 | Long             | EC               | CORP              | US        |         300 | NS      | $1239.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| IDT Corp                                                  | IDT Corp                                                                         | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |         800 | NS      | $54656.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Better Home & Finance Holding Co                          | Better Home & Finance Holding Co                                                 | CUSIP: 08774B508<br>LEI: 529900VAMR5CW7WS5H57 | Short            | EC               | CORP              | US        |       -1192 | NS      | $-14768.88    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Angel Oak Mortgage REIT Inc                               | Angel Oak Mortgage REIT Inc                                                      | CUSIP: 03464Y108<br>LEI: 5493008M8D7W7VZZ7V36 | Long             | EC               |  | US        |         100 | NS      | $942.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | UKX INDEX KO 09/19/25 8055.46P                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |        2008 | NC      | $19575.50     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Lehman XS Trust                                           | Lehman XS Trust Series 2007-15N                                                  | CUSIP: 52524VAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      243210 | PA      | $221246.87    | 0.01%             | 2047-08-25      | Floating      | 5.33%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.673% 03/28/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -600000 | OU      | $-5886.19     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                              | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     6480000 | PA      | $6434980.85   | 0.17%             | 2027-03-13      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (720) SEP 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |          55 | NC      | $-282726.38   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.3551% 07/03/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-2313.13     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| MLCC Mortgage Investors Inc                               | Merrill Lynch Mortgage Investors Trust Series MLCC 2005-3                        | CUSIP: 59020UM51<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      276720 | PA      | $150135.83    | 0.00%             | 2035-11-25      | Variable      | 5.40%                 | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | EURO-BOBL FUTURE  Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -297 | NC      | $90876.54     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      622041 | PA      | $622040.91    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Bank of America NA                                        | SOUSD_SOFR_P_3.21_20590831_20290831_LCH                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $425807.21    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| New Mountain CLO Ltd                                      | New Mountain CLO 4 Ltd                                                           | CUSIP: 64754PAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |     2000000 | PA      | $2045980.00   | 0.05%             | 2038-03-20      | Floating      | 11.19%                | No            | 2                  | On Loan: No      |
| Paychex Inc                                               | Paychex Inc                                                                      | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Short            | EC               | CORP              | US        |      -20600 | NS      | $-2996476.00  | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Trust 2019-GC40                                           | CUSIP: 36257HAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2219000 | PA      | $93082.61     | 0.00%             | 2052-07-10      | Variable      | 1.37%                 | No            | 2                  | On Loan: No      |
| E2open Parent Holdings Inc                                | E2open Parent Holdings Inc                                                       | CUSIP: 29788T103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -25100 | NS      | $-81073.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ONEOK Inc                                                 | ONEOK Inc                                                                        | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Short            | EC               | CORP              | US        |      -14176 | NS      | $-1157186.88  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| XPLR Infrastructure LP                                    | XPLR Infrastructure LP                                                           | CUSIP: 65341B106<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | EC               | CORP              | US        |        3000 | NS      | $24600.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Benefit Street Partners CLO Ltd                           | Benefit Street Partners Clo XXII Ltd                                             | CUSIP: 08186WAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $999955.00    | 0.03%             | 2035-04-20      | Floating      | 11.20%                | No            | 2                  | On Loan: No      |
| Senseonics Holdings Inc                                   | Senseonics Holdings Inc                                                          | CUSIP: 81727U105<br>LEI: 549300RCH6Z07TBHJ258 | Long             | EC               | CORP              | US        |        8300 | NS      | $3954.12      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Epiroc AB                                                 | Epiroc AB                                                                        | CUSIP: 000000000<br>LEI: 5493004Q73OEYW1SPE91 | Short            | EC               | CORP              | SE        |       -1326 | NS      | $-28853.59    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | ENBRIDGE INC CFD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | CA        |     6202586 | OU      | $53839.50     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| KB Home                                                   | KB Home                                                                          | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Short            | EC               | CORP              | US        |        -920 | NS      | $-48732.40    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Erasca Inc                                                | Erasca Inc                                                                       | CUSIP: 29479A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7400 | NS      | $9398.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Las Vegas Sands Corp                                      | Las Vegas Sands Corp                                                             | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Short            | EC               | CORP              | US        |      -64300 | NS      | $-2797693.00  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Balchem Corp                                              | Balchem Corp                                                                     | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |         600 | NS      | $95520.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT Sep27                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -34 | NC      | $-26387.50    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Vanda Pharmaceuticals Inc                                 | Vanda Pharmaceuticals Inc                                                        | CUSIP: 921659108<br>LEI: 529900AY8VOOQBKJ0O70 | Long             | EC               | CORP              | US        |       13200 | NS      | $62304.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellation Brands Inc                                  | Constellation Brands Inc                                                         | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Short            | EC               | CORP              | US        |       -3600 | NS      | $-585648.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Darden Restaurants Inc                                    | Darden Restaurants Inc                                                           | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Short            | EC               | CORP              | US        |       -4500 | NS      | $-980865.00   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| ZIM Integrated Shipping Services Ltd                      | ZIM Integrated Shipping Services Ltd                                             | CUSIP: 000000000<br>LEI: 21380089EIJRELKAIL21 | Long             | EC               | CORP              | IL        |       22500 | NS      | $362025.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| BILL Holdings Inc                                         | BILL Holdings Inc                                                                | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |       16500 | NS      | $763290.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-14960.19    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Compass Minerals International Inc                        | Compass Minerals International Inc                                               | CUSIP: 20451N101<br>LEI: 2549008X9G8XP7YJGC47 | Short            | EC               | CORP              | US        |        -900 | NS      | $-18081.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT TWD/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | TW        |           1 | NC      | $-14912.02    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Jack in the Box Inc                                       | Jack in the Box Inc                                                              | CUSIP: 466367109<br>LEI: 5493002OJW26P0SUUP68 | Short            | EC               | CORP              | US        |        -900 | NS      | $-15714.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE VIX FUTURE SEP 25                                                           | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |         -95 | NC      | $69039.86     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Universal Health Realty Income Trust                      | Universal Health Realty Income Trust                                             | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               |  | US        |         300 | NS      | $11991.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | CORN SEP 25                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        -131 | NC      | $32825.01     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1424190 | PA      | $1424190.24   | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Edgewise Therapeutics Inc                                 | Edgewise Therapeutics Inc                                                        | CUSIP: 28036F105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2900 | NS      | $-38019.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nintendo Co Ltd                                           | Nintendo Co Ltd                                                                  | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |        8500 | NS      | $816253.30    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| ATI Holdings Acquisition Inc                              | ATI Holdings Acquisition Inc 2023 2nd Lien Delayed Draw Term Loan                | CUSIP: 000000000<br>LEI: 549300EJ9DE34K9D1P94 | Long             | LON              | CORP              | US        |      859353 | PA      | $859352.51    | 0.02%             | 2028-08-24      | Fixed         | 8.00%                 | No            | 3                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE VIX FUTURE AUG 25                                                           | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |         137 | NC      | $-113988.78   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.433% 03/05/2040 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $9686.18      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| First Western Financial Inc                               | First Western Financial Inc                                                      | CUSIP: 33751L105<br>LEI: 549300PPOGX4C7S66B47 | Long             | EC               | CORP              | US        |       27237 | NS      | $614466.72    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Natural Grocers by Vitamin Cottage Inc                    | Natural Grocers by Vitamin Cottage Inc                                           | CUSIP: 63888U108<br>LEI: 529900P4OTXDGBUS3O87 | Long             | EC               | CORP              | US        |         100 | NS      | $3925.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LHS Borrower LLC                                          | LHS Borrower, LLC 2022 Term Loan B                                               | CUSIP: 000000000<br>LEI: 2549000R2CJY3YBDDU14 | Long             | LON              | CORP              | US        |     1162382 | PA      | $1061161.43   | 0.03%             | 2029-02-16      | Floating      | 9.18%                 | No            | N/A                | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | US        |           1 | NC      | $-4290.81     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Volcon Inc                                                | Volcon Inc                                                                       | CUSIP: 92864V608<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -151 | NS      | $-1061.53     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT MAR27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $-1775.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Oak Hill Credit                                           | OHA Credit Funding 10 Ltd                                                        | CUSIP: 67707MAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $999095.00    | 0.03%             | 2036-01-18      | Floating      | 10.78%                | No            | 2                  | On Loan: No      |
| National CineMedia Inc                                    | National CineMedia Inc                                                           | CUSIP: 635309206<br>LEI: 5493000MOLIVSOGKEB48 | Short            | EC               | CORP              | US        |      -12460 | NS      | $-60368.78    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Carvana Co                                                | Carvana Co                                                                       | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |       32400 | NS      | $10917504.00  | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| HPS Loan Management Ltd                                   | HPS Loan Management 2021-16 Ltd                                                  | CUSIP: 40441AAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $991854.00    | 0.03%             | 2035-01-23      | Floating      | 11.04%                | No            | 2                  | On Loan: No      |
| Evolent Health Inc                                        | Evolent Health Inc                                                               | CUSIP: 30050B101<br>LEI: 549300CZOCFHQ2BBTR11 | Short            | EC               | CORP              | US        |       -4800 | NS      | $-54048.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      535409 | PA      | $535409.34    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Y-mAbs Therapeutics Inc                                   | Y-mAbs Therapeutics Inc                                                          | CUSIP: 984241109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3900 | NS      | $17589.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Veru Inc                                                  | Veru Inc                                                                         | CUSIP: 92536C103<br>LEI: 529900ER63TFLEIJV631 | Short            | EC               | CORP              | US        |      -26824 | NS      | $-15606.19    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Unifi Inc                                                 | Unifi Inc                                                                        | CUSIP: 904677200<br>LEI: 549300MW5LPO0M2LNO04 | Long             | EC               | CORP              | US        |        1800 | NS      | $9396.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| X4 Pharmaceuticals Inc                                    | X4 Pharmaceuticals Inc                                                           | CUSIP: 98420X202<br>LEI: 549300R0UFVPXWP86U94 | Short            | EC               | CORP              | US        |       -1750 | NS      | $-3325.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Matinas BioPharma Holdings Inc                            | Matinas BioPharma Holdings Inc                                                   | CUSIP: 576810303<br>LEI: 549300TGHXVKQ7EJRO41 | Short            | EC               | CORP              | US        |        -337 | NS      | $-299.93      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sunrun Inc                                                | Sunrun Inc                                                                       | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Short            | EC               | CORP              | US        |      -60215 | NS      | $-492558.70   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| West BanCorp Inc                                          | West BanCorp Inc                                                                 | CUSIP: 95123P106<br>LEI: 549300GKFOINCHIYU666 | Long             | EC               | CORP              | US        |         200 | NS      | $3926.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.604% 01/16/2040 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-4788.97     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Egypt Government International Bonds                      | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     8510000 | PA      | $6195277.52   | 0.16%             | 2061-02-16      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | LANDBRIDGE CO LLC-A CFD                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -1212889 | OU      | $-645.12      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bryant Park Funding Ltd                                   | Bryant Park Funding 2024-23 Ltd                                                  | CUSIP: 11765CAN5<br>LEI: 391200W7QGMU3U2OCV81 | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $1998406.00   | 0.05%             | 2037-05-15      | Floating      | 9.38%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | Buy ICBCAS SNRFOR USD 100 Dec 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | CN        |     3800000 | OU      | $-62724.30    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Montenegro Government International Bonds                 | MONTEN 4.875 04/01/32 REGS                                                       | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | CORP              | ME        |     2148000 | PA      | $2503063.73   | 0.07%             | 2032-04-01      | Fixed         | 4.88%                 | Yes           | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.52925% 03/11/2055 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $5492.57      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| AnaptysBio Inc                                            | AnaptysBio Inc                                                                   | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |        4400 | NS      | $97680.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.78967% 06/17/2054 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -100000 | OU      | $-15019.32    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bureau Veritas SA                                         | Bureau Veritas SA                                                                | CUSIP: 000000000<br>LEI: 969500TPU5T3HA5D1F11 | Short            | EC               | CORP              | FR        |        -680 | NS      | $-23209.95    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.02445% 04/10/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      300000 | OU      | $-8725.36     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| GSAA Home Equity Trust                                    | GSAA Home Equity Trust 2004-5                                                    | CUSIP: 36228F5J1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      293801 | PA      | $242241.14    | 0.01%             | 2034-06-25      | Variable      | 4.32%                 | No            | 2                  | On Loan: No      |
| London Metal Exchange                                     | PRIMARY ALUMNM OP SEP 25 2800C                                                   | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         -80 | NC      | $-44400.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS APR 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          59 | NC      | $-74309.92    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      933587 | PA      | $933587.34    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.587% 02/11/2030 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $-396.01      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barnes & Noble Education Inc                              | Barnes & Noble Education Inc                                                     | CUSIP: 06777U200<br>LEI: 549300JQGDS5THBPED41 | Short            | EC               | CORP              | US        |       -4835 | NS      | $-56907.95    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NV5 Global Inc                                            | NV5 Global Inc                                                                   | CUSIP: 62945V109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-4618.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SS&C Technologies Holdings Inc                            | SS&C Technologies Holdings Inc                                                   | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Short            | EC               | CORP              | US        |      -13437 | NS      | $-1112583.60  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Babson CLO Ltd                                            | Barings CLO Ltd 2021-II                                                          | CUSIP: 06762KAA8<br>LEI: 549300ZI2PPUCDLS2Y70 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $993468.00    | 0.03%             | 2034-07-15      | Floating      | 10.77%                | No            | 2                  | On Loan: No      |
| Wellfleet CLO Ltd                                         | Wellfleet CLO 2022-2 Ltd                                                         | CUSIP: 94949KAE2<br>LEI: 2549008BRKHJZB917M86 | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $1997938.00   | 0.05%             | 2037-10-18      | Floating      | 12.02%                | No            | 2                  | On Loan: No      |
| AngioDynamics Inc                                         | AngioDynamics Inc                                                                | CUSIP: 03475V101<br>LEI: 549300W3VKC5ZKMO8C28 | Short            | EC               | CORP              | US        |        -200 | NS      | $-1984.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | VSTOXX FUT 07/01/25 36C                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |        1300 | NC      | $-83634.45    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Novocure Ltd                                              | Novocure Ltd                                                                     | CUSIP: 000000000<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |        5700 | NS      | $101460.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Corsair Gaming Inc                                        | Corsair Gaming Inc                                                               | CUSIP: 22041X102<br>LEI: 549300Y7YT18L8G0H525 | Short            | EC               | CORP              | US        |        -300 | NS      | $-2829.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.84% 03/15/2055 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |      100000 | OU      | $-1073.13     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.974% 09/28/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $3066.00      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Nine Energy Service Inc                                   | Nine Energy Service Inc                                                          | CUSIP: 65441V101<br>LEI: 549300KRLJCZBPZMKT65 | Short            | EC               | CORP              | US        |      -12000 | NS      | $-9253.20     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT OCT 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $142975.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Hope Bancorp Inc                                          | Hope Bancorp Inc                                                                 | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |       12700 | NS      | $136271.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Qualys Inc                                                | Qualys Inc                                                                       | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |         900 | NS      | $128583.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT SEP 25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |        1189 | NC      | $256442.95    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Truist Financial Corp                                     | Truist Financial Corp                                                            | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |       21973 | NS      | $944619.27    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.12% 08/20/2054 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1200000 | OU      | $10939.64     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HEICO Corp                                                | HEICO Corp                                                                       | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Short            | EC               | CORP              | US        |         -24 | NS      | $-7872.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ZoomInfo Technologies Inc                                 | ZoomInfo Technologies Inc                                                        | CUSIP: 98980F104<br>LEI: 2549008GSAHW4UWFEM58 | Long             | EC               | CORP              | US        |        6800 | NS      | $68816.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Castle US Holding Corporation                             | Castle US Holding Corporation 2025 EUR FLSO Term Loan B1                         | CUSIP: 14852DAL5<br>LEI: 254900VXLMLPIE9ID612 | Long             | LON              | CORP              | US        |     1913354 | PA      | $1115648.35   | 0.03%             | 2030-05-31      | Floating      | 6.29%                 | No            | 3                  | On Loan: No      |
| Exxon Mobil Corp                                          | Exxon Mobil Corp                                                                 | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Short            | EC               | CORP              | US        |      -54770 | NS      | $-5904206.00  | -0.16%            |  |  |  | No            | 1                  | On Loan: No      |
| Alector Inc                                               | Alector Inc                                                                      | CUSIP: 014442107<br>LEI: 549300Z8RQOIY1JMHC25 | Long             | EC               | CORP              | US        |        9400 | NS      | $13160.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Organigram Global Inc                                     | Organigram Global Inc                                                            | CUSIP: 68617J100<br>LEI: 529900J3EQ1VWW76L728 | Short            | EC               | CORP              | CA        |      -14175 | NS      | $-19136.25    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Yelp Inc                                                  | Yelp Inc                                                                         | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Short            | EC               | CORP              | US        |        -500 | NS      | $-17135.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ace Securities Corp.                                      | ACE Securities Corp Home Equity Loan Trust Series 2006-ASAP6                     | CUSIP: 00443KAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2270500 | PA      | $705939.35    | 0.02%             | 2036-12-25      | Floating      | 4.75%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | FLOWCO HOLDINGS INC-CL A CFD                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |     -224184 | OU      | $311.92       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Arlo Technologies Inc                                     | Arlo Technologies Inc                                                            | CUSIP: 04206A101<br>LEI: 549300T4EUX2OQ75HV52 | Short            | EC               | CORP              | US        |        -200 | NS      | $-3392.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | SO CDX.NA.IG.44 Call  82.5% 01-Jan-2038                                          | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              |  | US        | -3101750000 | NC      | $-1159375.22  | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| ROKOS GLOBAL MACRO FUND LTD                               | ROKOS GLOBAL MACRO FUND LTD                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |           1 | NS      | $175836890.60 | 4.68%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.501314% 02/19/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      320000 | OU      | $15173.42     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Advanced Micro Devices Inc                                | Advanced Micro Devices Inc                                                       | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |        4576 | NS      | $649334.40    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | NTT UD REIT INVESTMENT CORP CFD                                                  | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | SAMSUNG ELECTRONICS CFD (USD)                                                    | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | KR        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Metagenomi Inc                                            | Metagenomi Inc                                                                   | CUSIP: 59102M104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $444.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Wayfair Inc                                               | Wayfair Inc                                                                      | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Long             | EC               | CORP              | US        |       24200 | NS      | $1237588.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Birkenstock Holding Plc                                   | Birkenstock Holding Plc                                                          | CUSIP: 000000000<br>LEI: 529900CQ8LQKQ7LIT631 | Short            | EC               | CORP              | JE        |      -11500 | NS      | $-565570.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Theriva Biologics Inc                                     | Theriva Biologics Inc                                                            | CUSIP: 87164U508<br>LEI: 529900RVC1I52VWB3G55 | Long             | EC               | CORP              | US        |          31 | NS      | $13.45        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | SPDR S&P BIOTECH ETF CFD                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    35376100 | OU      | $283800.00    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Enphase Energy Inc                                        | Enphase Energy Inc                                                               | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |       31400 | NS      | $1245010.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| GSR Mortgage Loan Trust                                   | GSR Mortgage Loan Trust 2005-AR6                                                 | CUSIP: 362341SG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      263118 | PA      | $210384.65    | 0.01%             | 2035-09-25      | Variable      | 6.00%                 | No            | 2                  | On Loan: No      |
| SREIT Trust                                               | STWD Trust 2021-FLWR                                                             | CUSIP: 78485GAS3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      178400 | PA      | $177569.55    | 0.00%             | 2036-07-15      | Floating      | 8.10%                 | No            | 2                  | On Loan: No      |
| Southside Bancshares Inc                                  | Southside Bancshares Inc                                                         | CUSIP: 84470P109<br>LEI: 549300TC83207VQA2K65 | Long             | EC               | CORP              | US        |        1300 | NS      | $38259.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Smithfield Foods Inc                                      | Smithfield Foods Inc                                                             | CUSIP: 832248207<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | EC               | CORP              | US        |       58240 | NS      | $1370387.20   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| PATHWAY VET ALLIANCE LLC                                  | Pathway Vet Alliance LLC 2025 Tranche A Term Loan A                              | CUSIP: 000000000<br>LEI: 2549001HRKTHAW7MOH74 | Long             | LON              | CORP              | US        |      777626 | PA      | $779959.25    | 0.02%             | 2028-06-30      | Floating      | 9.28%                 | No            | 2                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER FUTURE Jul25                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          42 | NC      | $216929.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Hancock Whitney Corp                                      | Hancock Whitney Corp                                                             | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Short            | EC               | CORP              | US        |      -28656 | NS      | $-1644854.40  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.0245% 04/11/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-3600.58     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Jabil Inc                                                 | Jabil Inc                                                                        | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Short            | EC               | CORP              | US        |        -300 | NS      | $-65430.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AZUL SECURED FINANCE LLP                                  | Azul Secured Finance LLP                                                         | CUSIP: 05501WAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2699274 | PA      | $985235.02    | 0.03%             | 2028-08-28      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Tiptree Inc                                               | Tiptree Inc                                                                      | CUSIP: 88822Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $7074.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | S&P 500 INDEX DEC 26 10000C                                                      | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |       -4382 | NC      | $-492975.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| AlTi Global Inc                                           | AlTi Global Inc                                                                  | CUSIP: 02157E106<br>LEI: 25490060ASU5X85RAX65 | Short            | EC               | CORP              | US        |       -2100 | NS      | $-8715.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| UZBEKISTAN INTL BOND                                      | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     5002000 | PA      | $6028075.14   | 0.16%             | 2029-02-25      | Fixed         | 5.10%                 | Yes           | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.4885% 03/05/2035 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |      200000 | OU      | $157.08       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | SELL CMBX.NA.BBB-.10 GSCO                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | US        |     5052000 | OU      | $-950786.40   | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Jin Medical International Ltd                             | Jin Medical International Ltd                                                    | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -300 | NS      | $-193.20      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Banco Bradesco SA                                         | Banco Bradesco SA                                                                | CUSIP: 059460303<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EC               | CORP              | BR        |      419500 | NS      | $1296255.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| CXApp Inc                                                 | CXApp Inc                                                                        | CUSIP: 23248B109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -7000 | NS      | $-7490.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEANS 5000 AUG 25                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |          43 | NC      | $-34331.85    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ARM Holdings PLC                                          | ARM Holdings PLC                                                                 | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Short            | EC               | CORP              | GB        |      -33540 | NS      | $-5424759.60  | -0.14%            |  |  |  | No            | 1                  | On Loan: No      |
| Children's Place Inc/The                                  | Children's Place Inc/The                                                         | CUSIP: 168905107<br>LEI: 549300BGVK2OO5O7TC19 | Short            | EC               | CORP              | US        |        -700 | NS      | $-3101.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WillScot Holdings Corp                                    | WillScot Holdings Corp                                                           | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |       41615 | NS      | $1140251.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.266% 10/09/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1100000 | OU      | $7075.16      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| NCR Atleos Corp                                           | NCR Atleos Corp                                                                  | CUSIP: 63001N106<br>LEI: 9845005FC3S0VA714741 | Short            | EC               | CORP              | US        |        -100 | NS      | $-2853.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CME Group Inc                                             | CME Group Inc                                                                    | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       41300 | NS      | $11383106.00  | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| FREMF Mortgage Trust                                      | FREMF 2017-KGS1 Mortgage Trust                                                   | CUSIP: 30305QAK7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     1000000 | PA      | $891445.00    | 0.02%             | 2027-10-25      | Variable      | 3.71%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | PLATINUM OCT 25                                                                  | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          20 | NC      | $40604.05     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Maxeon Solar Technologies Ltd                             | Maxeon Solar Technologies Ltd                                                    | CUSIP: 000000000<br>LEI: 5493007JPB074ITT6Y72 | Short            | EC               | CORP              | SG        |         -79 | NS      | $-241.74      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Brighthouse Financial Inc                                 | Brighthouse Financial Inc                                                        | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |        3700 | NS      | $198949.00    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.77625% 04/22/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $979.11       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.127416% 02/19/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      300000 | OU      | $31572.00     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Century Aluminum Co                                       | Century Aluminum Co                                                              | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Short            | EC               | CORP              | US        |        -800 | NS      | $-14416.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AFRICAN EXPORT-IMPORT BA                                  | African Export-Import Bank/The                                                   | CUSIP: 000000000<br>LEI: 21380068LJCDYA42GJ76 | Short            | DBT              | NUSS              | XX        |    -1824000 | PA      | $-1673520.00  | -0.04%            | 2029-09-21      | Fixed         | 3.99%                 | Yes           | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT AUG 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-36150.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Uranium Energy Corp                                       | Uranium Energy Corp                                                              | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Short            | EC               | CORP              | US        |      -65400 | NS      | $-444720.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Marvell Technology Inc                                    | Marvell Technology Inc                                                           | CUSIP: 573874104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1300 | NS      | $-100620.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-18CB                                                 | CUSIP: 02151NAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      703300 | PA      | $188369.16    | 0.01%             | 2037-08-25      | Floating      | 4.90%                 | No            | 2                  | On Loan: No      |
| Taboola.com Ltd                                           | Taboola.com Ltd                                                                  | CUSIP: 000000000<br>LEI: 984500F5945AFAFFCB30 | Long             | EC               | CORP              | IL        |        3700 | NS      | $13542.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME ZINC FUTURE   Jul25                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -105 | NC      | $-293990.25   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| PayPal Holdings Inc                                       | PayPal Holdings Inc                                                              | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |        3041 | NS      | $226007.12    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  FEB26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-1259797.36  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.582% 04/03/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $1512.45      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| WhiteHorse Finance Inc                                    | WhiteHorse Finance Inc                                                           | CUSIP: 96524V106<br>LEI: 5493006LP9COIV2ZIB05 | Long             | EC               | CORP              | US        |        3500 | NS      | $30520.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Centene Corp                                              | Centene Corp                                                                     | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |       55000 | NS      | $2985400.00   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 15P                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |       -2850 | NC      | $-829350.00   | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Esperion Therapeutics Inc                                 | Esperion Therapeutics Inc                                                        | CUSIP: 29664W105<br>LEI: 549300OFU56UKEWVUS92 | Long             | EC               | CORP              | US        |       36100 | NS      | $35536.85     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Equity Residential                                        | Equity Residential                                                               | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Short            | EC               |  | US        |       -6500 | NS      | $-438685.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | EO-USDJPY(USD) 09/25/25 132P                                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |    -2000000 | OU      | $-5933.40     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA8                                                  | CUSIP: 02147CAF0<br>LEI: 549300EBNJLBIQBKE071 | Long             | ABS-MBS          | CORP              | US        |      108711 | PA      | $110210.34    | 0.00%             | 2046-07-25      | Floating      | 4.81%                 | No            | 2                  | On Loan: No      |
| NB Bancorp Inc                                            | NB Bancorp Inc                                                                   | CUSIP: 63945M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $5358.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Protara Therapeutics Inc                                  | Protara Therapeutics Inc                                                         | CUSIP: 74365U107<br>LEI: 549300VWUGH3220TG273 | Short            | EC               | CORP              | US        |        -800 | NS      | $-2424.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Monte Rosa Therapeutics Inc                               | Monte Rosa Therapeutics Inc                                                      | CUSIP: 61225M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $1353.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Variance Swap - SPX (19.05% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |       -3350 | OU      | $-409183.58   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2015-LC21 Mortgage Trust                                                    | CUSIP: 12593FBJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1348000 | PA      | $1291304.46   | 0.03%             | 2048-07-10      | Variable      | 4.52%                 | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      215736 | PA      | $215736.33    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CARBON EMISSION EUA (FUTION) 12/01/25 75C                                        | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          50 | NC      | $-71560.46    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Air Industries Group                                      | Air Industries Group                                                             | CUSIP: 00912N403<br>LEI: 54930028HTN6H0Z7MY07 | Long             | EC               | CORP              | US        |         100 | NS      | $336.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Allegion plc                                              | Allegion plc                                                                     | CUSIP: 000000000<br>LEI: 984500560CAC2E6FB757 | Short            | EC               | CORP              | IE        |        -100 | NS      | $-14412.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| iRobot Corp                                               | iRobot Corp                                                                      | CUSIP: 462726100<br>LEI: 5493009PRNKOUKBAT390 | Long             | EC               | CORP              | US        |        4800 | NS      | $15024.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                                              | Alphabet Inc                                                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |       77373 | NS      | $13635443.79  | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Webtoon Entertainment Inc                                 | Webtoon Entertainment Inc                                                        | CUSIP: 94845U105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1200 | NS      | $-10896.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS EUR 09/01/25 4.5C                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          63 | NC      | $45549.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Celsius Holdings Inc                                      | Celsius Holdings Inc                                                             | CUSIP: 15118V207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -10900 | NS      | $-505651.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Hecla Mining Co                                           | Hecla Mining Co                                                                  | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Short            | EC               | CORP              | US        |         -40 | NS      | $-239.60      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ituran Location and Control Ltd                           | Ituran Location and Control Ltd                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |         400 | NS      | $15492.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vivani Medical Inc                                        | Vivani Medical Inc                                                               | CUSIP: 92854B109<br>LEI: 5299004VTNX49EZIFL05 | Short            | EC               | CORP              | US        |        -466 | NS      | $-601.14      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Neogen Corp                                               | Neogen Corp                                                                      | CUSIP: 640491106<br>LEI: 549300HJT9FC36N4UW43 | Short            | EC               | CORP              | US        |      -40200 | NS      | $-192156.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Tri Pointe Homes Inc                                      | Tri Pointe Homes Inc                                                             | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5300 | NS      | $169335.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Asurion LLC                                               | Asurion LLC 2021 Second Lien Term Loan B4                                        | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     2774471 | PA      | $2568549.48   | 0.07%             | 2029-01-20      | Floating      | 9.69%                 | No            | 2                  | On Loan: No      |
| Ampco-Pittsburgh Corp                                     | Ampco-Pittsburgh Corp                                                            | CUSIP: 032037103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $888.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE VIX FUTURE NOV 25                                                           | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |         -89 | NC      | $43027.41     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Color Star Technology Co Ltd                              | Color Star Technology Co Ltd                                                     | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -200 | NS      | $-174.00      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Strawberry Fields REIT Inc                                | Strawberry Fields REIT Inc                                                       | CUSIP: 863182101<br>LEI: N/A                  | Long             | EC               |  | US        |         200 | NS      | $2108.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JELD-WEN Holding Inc                                      | JELD-WEN Holding Inc                                                             | CUSIP: 47580P103<br>LEI: 529900AXX7CT9GZSCS30 | Long             | EC               | CORP              | US        |        1200 | NS      | $4704.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Synovus Financial Corp                                    | Synovus Financial Corp                                                           | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |      236637 | NS      | $12245964.75  | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | NIPPON BUILDING FUND INC CFD                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |    17074540 | OU      | $4240.37      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Aurora Innovation Inc                                     | Aurora Innovation Inc                                                            | CUSIP: 051774107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -101500 | NS      | $-531860.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | US 2YR NOTE (CBT) Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        1044 | NC      | $701679.77    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT MAR 26                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |          30 | NC      | $3875.02      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GCM Grosvenor Inc                                         | GCM Grosvenor Inc                                                                | CUSIP: 36831E108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       43279 | NS      | $500305.24    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| EQT Corp                                                  | EQT Corp                                                                         | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Short            | EC               | CORP              | US        |      -12190 | NS      | $-710920.80   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| NeoGenomics Inc                                           | NeoGenomics Inc                                                                  | CUSIP: 64049M209<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -6100 | NS      | $-44591.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lumen Technologies Inc                                    | Lumen Technologies Inc                                                           | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |      100400 | NS      | $439752.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| MGP Ingredients Inc                                       | MGP Ingredients Inc                                                              | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |        2900 | NS      | $86913.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.90725% 06/13/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -200000 | OU      | $1083.92      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Relmada Therapeutics Inc                                  | Relmada Therapeutics Inc                                                         | CUSIP: 75955J402<br>LEI: 549300217EASRZ9JSF81 | Long             | EC               | CORP              | US        |        2400 | NS      | $1440.72      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Claritev Corp                                             | Claritev Corp                                                                    | CUSIP: 62548M209<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -605 | NS      | $-27303.65    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Aemetis Inc                                               | Aemetis Inc                                                                      | CUSIP: 00770K202<br>LEI: 254900DQF4U5U9W7AR72 | Long             | EC               | CORP              | US        |         200 | NS      | $496.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                                               | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Short            | EC               | CORP              | CA        |       -2400 | NS      | $-169992.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2015-CCRE27 Mortgage Trust                                                  | CUSIP: 12635QAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3065000 | PA      | $2748284.36   | 0.07%             | 2048-10-10      | Variable      | 3.60%                 | No            | 2                  | On Loan: No      |
| James River Group Holdings Ltd                            | James River Group Holdings Ltd                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |        7100 | NS      | $41606.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN JUL 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-3690.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT HKD/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | HK        |           1 | NC      | $-10056.45    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Valaris Ltd                                               | Valaris Ltd                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | BM        |      -18200 | NS      | $-766402.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT MAR 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-76150.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ameris Bancorp                                            | Ameris Bancorp                                                                   | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |      127663 | NS      | $8259796.10   | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| OneWater Marine Inc                                       | OneWater Marine Inc                                                              | CUSIP: 68280L101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1000 | NS      | $-13390.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    48800000 | OU      | $1197890.87   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Allient Inc                                               | Allient Inc                                                                      | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |         500 | NS      | $18155.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| HSBC Bank PLC                                             | BOUGHT EUR/SOLD USD                                                              | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |           1 | NC      | $14612.10     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-OH2                                                  | CUSIP: 02151RAQ6<br>LEI: 549300QKXMAFE33VN106 | Long             | ABS-MBS          | CORP              | US        |      125334 | PA      | $128555.47    | 0.00%             | 2047-08-25      | Floating      | 4.79%                 | No            | 2                  | On Loan: No      |
| Coherus Oncology Inc                                      | Coherus Oncology Inc                                                             | CUSIP: 19249H103<br>LEI: 5493007IL8W5MV932D26 | Short            | EC               | CORP              | US        |       -3300 | NS      | $-2413.29     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT SEP 28                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -37 | NC      | $-20450.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Porch Group Inc                                           | Porch Group Inc                                                                  | CUSIP: 733245104<br>LEI: 549300NXEI7CVW8IXQ90 | Long             | EC               | CORP              | US        |        2600 | NS      | $30654.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.434% 10/11/2026 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     3000000 | OU      | $73405.57     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| McDonald's Corp                                           | McDonald's Corp                                                                  | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Short            | EC               | CORP              | US        |      -22800 | NS      | $-6661476.00  | -0.18%            |  |  |  | No            | 1                  | On Loan: No      |
| Alfa Laval AB                                             | Alfa Laval AB                                                                    | CUSIP: 000000000<br>LEI: 549300UCKT2UK88AG251 | Short            | EC               | CORP              | SE        |        -456 | NS      | $-19206.10    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital I Trust                            | Morgan Stanley Capital I Trust 2016-UBS11                                        | CUSIP: 61767FAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3200500 | PA      | $2796363.26   | 0.07%             | 2049-08-15      | Variable      | 2.72%                 | No            | 2                  | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                                                     | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Short            | EC               | CORP              | CH        |      -47265 | NS      | $-1598502.30  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Ichor Holdings Ltd                                        | Ichor Holdings Ltd                                                               | CUSIP: 000000000<br>LEI: 529900PS8R2JVLJ2H892 | Short            | EC               | CORP              | KY        |        -200 | NS      | $-3928.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lucid Group Inc                                           | Lucid Group Inc                                                                  | CUSIP: 549498103<br>LEI: 529900MRL9Z13ZCRVD74 | Short            | EC               | CORP              | US        |      -15400 | NS      | $-32494.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lincoln National Corp                                     | Lincoln National Corp                                                            | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |        1900 | NS      | $65740.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Media Corp-Liberty Formula One                    | Liberty Media Corp-Liberty Formula One                                           | CUSIP: 531229771<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -900 | NS      | $-85464.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Greywolf CLO Ltd                                          | Greywolf CLO II Ltd                                                              | CUSIP: 398079BJ1<br>LEI: 549300DX0ZYWEZ6TY764 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $998274.00    | 0.03%             | 2034-04-15      | Floating      | 7.87%                 | No            | 2                  | On Loan: No      |
| NRX Pharmaceuticals Inc                                   | NRX Pharmaceuticals Inc                                                          | CUSIP: 629444209<br>LEI: 5493003FN4CLS0670T77 | Short            | EC               | CORP              | US        |         -11 | NS      | $-35.86       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT TRY/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | TR        |           1 | NC      | $618.39       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| PagerDuty Inc                                             | PagerDuty Inc                                                                    | CUSIP: 69553P100<br>LEI: 549300U1SB749EDAGH21 | Long             | EC               | CORP              | US        |        4000 | NS      | $61120.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Syntec Optics Holdings Inc                                | Syntec Optics Holdings Inc                                                       | CUSIP: 87169M105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |          -9 | NS      | $-12.06       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Tetra Tech Inc                                            | Tetra Tech Inc                                                                   | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Short            | EC               | CORP              | US        |        -800 | NS      | $-28768.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Enviri Corp                                               | Enviri Corp                                                                      | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-10416.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.34625% 03/08/2055 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $9938.98      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Civeo Corp                                                | Civeo Corp                                                                       | CUSIP: 17878Y207<br>LEI: 254900H0BM0N0O4MSY43 | Long             | EC               | CORP              | CA        |         725 | NS      | $16740.25     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Synopsys Inc                                              | Synopsys Inc                                                                     | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Short            | EC               | CORP              | US        |       -7500 | NS      | $-3845100.00  | -0.10%            |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.32724% 03/08/2055 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      100000 | OU      | $2987.12      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.9947% 04/09/2055 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $2730.79      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT AUG 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $53600.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dr Reddy's Laboratories Ltd                               | Dr Reddy's Laboratories Ltd                                                      | CUSIP: 256135203<br>LEI: 335800OVDPY3DVZR2798 | Short            | EC               | CORP              | IN        |       -4600 | NS      | $-69138.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Petroleos del Peru SA                                     | Petroleos del Peru SA                                                            | CUSIP: 000000000<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |    11931000 | PA      | $9224624.94   | 0.25%             | 2032-06-19      | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2005-59                                                   | CUSIP: 12668AEV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5988861 | PA      | $5307196.43   | 0.14%             | 2035-11-20      | Floating      | 5.10%                 | No            | 2                  | On Loan: No      |
| Visa Inc                                                  | Visa Inc                                                                         | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       10751 | NS      | $3817142.55   | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | SOYBEAN OIL OPTIONS MAR 26 55C                                                   | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DCO              |  | US        |          63 | NC      | $147798.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | EURO-SCHATZ FUT   Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        2509 | NC      | $-421446.86   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Ferrari NV                                                | Ferrari NV                                                                       | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |        2640 | NS      | $1293365.10   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.7736% 11/23/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -100000 | OU      | $-2822.61     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.596% 09/17/2027 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  -336000000 | OU      | $1563815.97   | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.12167% 11/06/2054 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      100000 | OU      | $8004.27      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.30145% 01/16/2035 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      300000 | OU      | $-15231.63    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Fidelity National Financial Inc                           | Fidelity National Financial Inc                                                  | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Short            | EC               | CORP              | US        |       -1006 | NS      | $-56396.36    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE JAN 26                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          -9 | NC      | $986.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.133% 12/27/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-5542.63     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | LEAN HOGS (40000) AUG 25                                                         | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        -371 | NC      | $594546.64    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Kearny Financial Corp/MD                                  | Kearny Financial Corp/MD                                                         | CUSIP: 48716P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        8300 | NS      | $53618.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TrustCo Bank Corp NY                                      | TrustCo Bank Corp NY                                                             | CUSIP: 898349204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         420 | NS      | $14036.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | EO-XAUUSD(USD) 08/20/25 3150C                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCO              |  | US        |      428000 | NC      | $44545.45     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | LPL FINANCIAL HOLDINGS INC CFD                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |    -2427282 | OU      | $-66643.02    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT DEC 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $231125.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Dave & Buster's Entertainment Inc                         | Dave & Buster's Entertainment Inc                                                | CUSIP: 238337109<br>LEI: 529900WTVU85QZLYHR86 | Short            | EC               | CORP              | US        |      -11500 | NS      | $-345920.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Karyopharm Therapeutics Inc                               | Karyopharm Therapeutics Inc                                                      | CUSIP: 48576U205<br>LEI: 549300J1VANRCNTYST87 | Short            | EC               | CORP              | US        |        -333 | NS      | $-1435.23     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Flagstar Financial Inc                                    | Flagstar Financial Inc                                                           | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Short            | EC               | CORP              | US        |       -4032 | NS      | $-42739.20    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                | JPMBB Commercial Mortgage Securities Trust 2016-C1                               | CUSIP: 46645LAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3126000 | PA      | $2706634.60   | 0.07%             | 2049-03-17      | Variable      | 4.85%                 | No            | 2                  | On Loan: No      |
| Performant Healthcare Inc                                 | Performant Healthcare Inc                                                        | CUSIP: 71377E105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1800 | NS      | $-7200.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bridge Investment Group Holdings Inc                      | Bridge Investment Group Holdings Inc                                             | CUSIP: 10806B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2300 | NS      | $23023.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Dec 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |      500000 | OU      | $12241.17     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HarborView Mortgage Loan Trust                            | HarborView Mortgage Loan Trust 2005-12                                           | CUSIP: 41161PVL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      361055 | PA      | $286888.62    | 0.01%             | 2035-10-19      | Floating      | 6.40%                 | No            | 2                  | On Loan: No      |
| SEACOR Marine Holdings Inc                                | SEACOR Marine Holdings Inc                                                       | CUSIP: 78413P101<br>LEI: 5493003LNKFW1W43N030 | Short            | EC               | CORP              | US        |       -1700 | NS      | $-8670.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Firstsun Capital Bancorp                                  | Firstsun Capital Bancorp                                                         | CUSIP: 33767U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $3475.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.83675% 05/30/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $-2623.77     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| USANA Health Sciences Inc                                 | USANA Health Sciences Inc                                                        | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |         200 | NS      | $6106.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.717% 04/15/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-685.61      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| VeriSign Inc                                              | VeriSign Inc                                                                     | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Short            | EC               | CORP              | US        |        -101 | NS      | $-29168.80    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intellia Therapeutics Inc                                 | Intellia Therapeutics Inc                                                        | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |       24800 | NS      | $232624.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Corp Trust 2021-DM                                        | CUSIP: 36265AAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      312000 | PA      | $306124.73    | 0.01%             | 2036-11-15      | Floating      | 7.86%                 | No            | 2                  | On Loan: No      |
| CEL-SCI Corp                                              | CEL-SCI Corp                                                                     | CUSIP: 150837706<br>LEI: 549300FIWOFSETIVMI17 | Short            | EC               | CORP              | US        |        -500 | NS      | $-1145.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ATI Physical Therapy Inc                                  | ATI Physical Therapy, Inc.                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      337340 | PA      | $337339.98    | 0.01%             | N/A             | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| Alibaba Group Holding Ltd                                 | Alibaba Group Holding Ltd                                                        | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |        1100 | NS      | $124751.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Premier Inc                                               | Premier Inc                                                                      | CUSIP: 74051N102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-8772.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sri Lanka Government International Bonds                  | Sri Lanka Government International Bonds                                         | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     4207816 | PA      | $3944827.83   | 0.11%             | 2028-04-15      | Fixed         | 4.00%                 | Yes           | 2                  | On Loan: No      |
| Rail Vision Ltd                                           | Rail Vision Ltd                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |       -4400 | NS      | $-1431.33     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.194% 09/02/2059 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -400000 | OU      | $13331.64     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.6968% 10/24/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $4871.94      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Laser Photonics Corp                                      | Laser Photonics Corp                                                             | CUSIP: 51807Q100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-1076.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Exelon Corp                                               | Exelon Corp                                                                      | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-52104.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Apple Hospitality REIT Inc                                | Apple Hospitality REIT Inc                                                       | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Short            | EC               |  | US        |      -10300 | NS      | $-120201.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Alpha Metallurgical Resources Inc                         | Alpha Metallurgical Resources Inc                                                | CUSIP: 020764106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-44992.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Halozyme Therapeutics Inc                                 | Halozyme Therapeutics Inc                                                        | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |        3400 | NS      | $176868.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UDR Inc                                                   | UDR Inc                                                                          | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Short            | EC               |  | US        |       -1200 | NS      | $-48996.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Atom Mortgage Securities                                  | Atom Mortgage Securities DAC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |      550695 | PA      | $656736.02    | 0.02%             | 2031-07-22      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Boston Scientific Corp                                    | Boston Scientific Corp                                                           | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |       86500 | NS      | $9290965.00   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| SWF HOLDINGS I CORP                                       | SWF Holdings I Corp                                                              | CUSIP: 78500CAA2<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | DBT              | CORP              | US        |     2853400 | PA      | $1355348.43   | 0.04%             | 2029-10-06      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Bristol-Myers Squibb Co                                   | Bristol-Myers Squibb Co                                                          | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Short            | EC               | CORP              | US        |       -4339 | NS      | $-200852.31   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Futu Holdings Ltd                                         | Futu Holdings Ltd                                                                | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | KY        |        1600 | NS      | $197744.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.619% 04/02/2030 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    20000000 | OU      | $-159555.60   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Kaiser Aluminum Corp                                      | Kaiser Aluminum Corp                                                             | CUSIP: 483007704<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -500 | NS      | $-39950.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Enlight Renewable Energy Ltd                              | Enlight Renewable Energy Ltd                                                     | CUSIP: 000000000<br>LEI: 984500HF6A99N758F734 | Short            | EC               | CORP              | IL        |        -200 | NS      | $-4546.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 1.899% 08/27/2029 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     1650000 | OU      | $92717.20     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| EchoStar Corp                                             | EchoStar Corp                                                                    | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Short            | EC               | CORP              | US        |       -2458 | NS      | $-68086.60    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                   | WaMu Mortgage Pass-Through Certificates Series 2006-AR7 Trust                    | CUSIP: 93363CAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      297833 | PA      | $282816.24    | 0.01%             | 2046-07-25      | Floating      | 5.38%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                  | Government National Mortgage Association                                         | CUSIP: 38383YMU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    15991420 | PA      | $2917506.70   | 0.08%             | 2048-12-20      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Sunstone Hotel Investors Inc                              | Sunstone Hotel Investors Inc                                                     | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Short            | EC               |  | US        |      -20300 | NS      | $-176204.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Braemar Hotels & Resorts Inc                              | Braemar Hotels & Resorts Inc                                                     | CUSIP: 10482B101<br>LEI: 549300JDUUEBN868C776 | Short            | EC               |  | US        |       -4600 | NS      | $-11270.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT NOK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | NO        |           1 | NC      | $44245.19     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Arista Networks Inc                                       | Arista Networks Inc                                                              | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Short            | EC               | CORP              | US        |        -895 | NS      | $-91567.45    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Gainwell Acquisition Corp                                 | Gainwell Acquisition Corp Term Loan B                                            | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       98536 | PA      | $94766.98     | 0.00%             | 2027-10-01      | Floating      | 8.40%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS JUL 25 6.5C                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         203 | NC      | $5887.00      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Bank of America NA                                        | SO USD_SOFR_P_3.225_20540825_20340825_LCH                                        | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $357928.80    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Veralto Corp                                              | Veralto Corp                                                                     | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Short            | EC               | CORP              | US        |       -1278 | NS      | $-129014.10   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.719% 03/28/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -200000 | OU      | $-14725.23    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Envista Holdings Corp                                     | Envista Holdings Corp                                                            | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Short            | EC               | CORP              | US        |      -43100 | NS      | $-842174.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Wabash National Corp                                      | Wabash National Corp                                                             | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |         500 | NS      | $5315.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Latam Airlines Group SA                                   | Latam Airlines Group SA                                                          | CUSIP: 51817R205<br>LEI: 549300HX3UUDPEFTG707 | Long             | EC               | CORP              | CL        |         600 | NS      | $24384.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.1309% 08/10/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $851.89       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Franklin Street Properties Corp                           | Franklin Street Properties Corp                                                  | CUSIP: 35471R106<br>LEI: 549300STLK2T6QY5WO82 | Long             | EC               |  | US        |         600 | NS      | $984.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS AUD 4.0404% 08/30/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | AU        |     -300000 | OU      | $265.61       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| AG Mortgage Investment Trust Inc                          | AG Mortgage Investment Trust Inc                                                 | CUSIP: 001228501<br>LEI: 549300SNP0PBR2XTFR48 | Long             | EC               |  | US        |         200 | NS      | $1510.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Trust 2014-GC24                                           | CUSIP: 36253GAM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      303000 | PA      | $269247.01    | 0.01%             | 2047-09-10      | Variable      | 4.54%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |      728152 | PA      | $728152.27    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Walgreens Boots Alliance Inc                              | Walgreens Boots Alliance Inc                                                     | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-12628.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.72% 04/16/2040 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |     -100000 | OU      | $-73.57       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| NXP Semiconductors NV                                     | NXP Semiconductors NV                                                            | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |        2317 | NS      | $506241.33    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Cooper Cos Inc/The                                        | Cooper Cos Inc/The                                                               | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Short            | EC               | CORP              | US        |        -500 | NS      | $-35580.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ouster Inc                                                | Ouster Inc                                                                       | CUSIP: 68989M202<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5070 | NS      | $-122947.50   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ARTHUR US FINCO INC                                       | Arthur US Finco Inc Term Loan B                                                  | CUSIP: 000000000<br>LEI: 254900YJ1VCSP18B5452 | Long             | LON              | CORP              | US        |     2802688 | PA      | $2602996.21   | 0.07%             | 2029-12-14      | Floating      | 9.55%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.608% 04/10/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-12675.21    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| CUPPA BIDCO BV                                            | Cuppa Bidco BV EUR Term Loan B1                                                  | CUSIP: 000000000<br>LEI: 254900C8AU9XL3CHKB72 | Long             | LON              | CORP              | NL        |     1854029 | PA      | $1884576.85   | 0.05%             | 2029-06-29      | Floating      | 6.79%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT KRW/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | KR        |           1 | NC      | $26486.66     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| American Integrity Insurance Group Inc                    | American Integrity Insurance Group Inc                                           | CUSIP: 026948109<br>LEI: 529900Y2VOV2LYV4OK68 | Long             | EC               | CORP              | US        |       10707 | NS      | $196901.73    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| BigCommerce Holdings Inc                                  | BigCommerce Holdings Inc                                                         | CUSIP: 08975P108<br>LEI: 549300MOVEFQ78DMPG58 | Short            | EC               | CORP              | US        |        -300 | NS      | $-1500.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Solventum Corp                                            | Solventum Corp                                                                   | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Short            | EC               | CORP              | US        |       -2600 | NS      | $-197184.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137FTBB2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    12352394 | PA      | $2594904.40   | 0.07%             | 2050-05-25      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Knife River Corp                                          | Knife River Corp                                                                 | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $8164.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    17100000 | OU      | $419752.74    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Hello Group Inc                                           | Hello Group Inc                                                                  | CUSIP: 423403104<br>LEI: 549300YMGLID32W48529 | Long             | EC               | CORP              | KY        |        1000 | NS      | $8440.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| First Horizon Corp                                        | First Horizon Corp                                                               | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Short            | EC               | CORP              | US        |        -300 | NS      | $-6360.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | BRIGHTSPRING HEALTH SERVICES CFD                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     -469471 | OU      | $-1197.12     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Veritiv Corporation                                       | Veritiv Corporation Term Loan B                                                  | CUSIP: 92338TAB2<br>LEI: 5493004G8OK5L1UTIY12 | Long             | LON              | CORP              | US        |      567267 | PA      | $568826.74    | 0.02%             | 2030-11-30      | Floating      | 8.30%                 | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | Euro-OAT Future   Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         141 | NC      | $-153357.30   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JUN 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -28 | NC      | $-22570.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ChargePoint Holdings Inc                                  | ChargePoint Holdings Inc                                                         | CUSIP: 15961R105<br>LEI: 254900DVN9TAC2GIPG25 | Long             | EC               | CORP              | US        |         300 | NS      | $210.99       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| American Eagle Outfitters Inc                             | American Eagle Outfitters Inc                                                    | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |         400 | NS      | $3848.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Apellis Pharmaceuticals Inc                               | Apellis Pharmaceuticals Inc                                                      | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |        4000 | NS      | $69240.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CASTLE US HOLDING CORPORATION                             | Castle US Holding Corporation 2025 New Money FLFO Term Loan                      | CUSIP: 14852DAG6<br>LEI: 254900VXLMLPIE9ID612 | Long             | LON              | CORP              | US        |     1304801 | PA      | $1304800.78   | 0.03%             | 2030-04-29      | Floating      | 9.33%                 | No            | 2                  | On Loan: No      |
| TaskUS Inc                                                | TaskUS Inc                                                                       | CUSIP: 87652V109<br>LEI: 549300VFPOK2Y6GLWE32 | Long             | EC               | CORP              | US        |        2600 | NS      | $43576.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Establishment Labs Holdings Inc                           | Establishment Labs Holdings Inc                                                  | CUSIP: 000000000<br>LEI: 549300BCBQ714JNJ7V58 | Short            | EC               | CORP              | VG        |        -500 | NS      | $-21355.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                         | Citigroup Mortgage Loan Trust 2006-AR6                                           | CUSIP: 17309RAK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      809988 | PA      | $292828.63    | 0.01%             | 2036-09-25      | Floating      | 4.87%                 | No            | 2                  | On Loan: No      |
| Osaka Exchange                                            | NIKKEI (OSAKA 225) 1000 SEP 25                                                   | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |          10 | NC      | $171278.78    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Biogen Inc                                                | Biogen Inc                                                                       | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |        1100 | NS      | $138149.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cytokinetics Inc                                          | Cytokinetics Inc                                                                 | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Short            | EC               | CORP              | US        |       -2700 | NS      | $-89208.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| RxSight Inc                                               | RxSight Inc                                                                      | CUSIP: 78349D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3500 | NS      | $45500.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Net Power Inc                                             | Net Power Inc                                                                    | CUSIP: 64107A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1200 | NS      | $2964.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Richtech Robotics Inc                                     | Richtech Robotics Inc                                                            | CUSIP: 765504105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -25400 | NS      | $-49530.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Designer Brands Inc                                       | Designer Brands Inc                                                              | CUSIP: 250565108<br>LEI: 549300X8J6FI8PPRK859 | Long             | EC               | CORP              | US        |        9700 | NS      | $23086.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Taurus CMBS Trust 2020-NL1X                               | Taurus 2020-1 NL DAC                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |       53145 | PA      | $59046.24     | 0.00%             | 2030-02-20      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Sierra Bancorp                                            | Sierra Bancorp                                                                   | CUSIP: 82620P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $5938.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Trustmark Corp                                            | Trustmark Corp                                                                   | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Short            | EC               | CORP              | US        |      -61177 | NS      | $-2230513.42  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 35P                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |       -1445 | NC      | $-10469025.00 | -0.28%            |  |  |  | No            | 1                  | On Loan: No      |
| Millicom International Cellular SA                        | Millicom International Cellular SA                                               | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Short            | EC               | CORP              | LU        |       -1100 | NS      | $-41217.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Murphy Oil Corp                                           | Murphy Oil Corp                                                                  | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Short            | EC               | CORP              | US        |       -5319 | NS      | $-119677.50   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | BP CURRENCY FUT   Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         340 | NC      | $315004.63    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Phio Pharmaceuticals Corp                                 | Phio Pharmaceuticals Corp                                                        | CUSIP: 71880W501<br>LEI: 549300KOGMLSPLDVHR52 | Long             | EC               | CORP              | US        |           4 | NS      | $9.40         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Achieve Life Sciences Inc                                 | Achieve Life Sciences Inc                                                        | CUSIP: 004468500<br>LEI: 549300V82ZKZDTAU0A46 | Short            | EC               | CORP              | US        |        -700 | NS      | $-1582.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  JAN27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $675567.12    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Artesian Resources Corp                                   | Artesian Resources Corp                                                          | CUSIP: 043113208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $13424.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEAN OIL 60000 DEC 25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       -1039 | NC      | $1608821.28   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Edison International                                      | Edison International                                                             | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |       17000 | NS      | $877200.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Bcapb LLC Trust                                           | BCAPB LLC Trust 2007-AB1                                                         | CUSIP: 05529DAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      646004 | PA      | $226568.40    | 0.01%             | 2037-03-25      | Floating      | 4.62%                 | No            | 2                  | On Loan: No      |
| CompoSecure Inc                                           | CompoSecure Inc                                                                  | CUSIP: 20459V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7400 | NS      | $104266.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JUL 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $47400.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Talen Energy Corp                                         | Talen Energy Corp                                                                | CUSIP: 87422Q109<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | EC               | CORP              | US        |         600 | NS      | $174462.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LendingClub Corp                                          | LendingClub Corp                                                                 | CUSIP: 52603A208<br>LEI: 549300YC50YO7Y1OJR92 | Long             | EC               | CORP              | US        |        5800 | NS      | $69774.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| INTL BK RECON & DEVELOP                                   | International Bank for Reconstruction & Development                              | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | XX        |      250000 | PA      | $254575.00    | 0.01%             | 2028-04-24      | Floating      | 15.61%                | No            | 2                  | On Loan: No      |
| SSR Mining Inc                                            | SSR Mining Inc                                                                   | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | CA        |       13900 | NS      | $177086.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Avadel Pharmaceuticals PLC                                | Avadel Pharmaceuticals PLC                                                       | CUSIP: 000000000<br>LEI: 549300E27PTSG2RHC762 | Short            | EC               | CORP              | IE        |       -7700 | NS      | $-68145.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BBAM US CLO LTD.                                          | BBAM US CLO III Ltd                                                              | CUSIP: 054974AJ9<br>LEI: 54930064Z7YZMOXBC128 | Long             | ABS-CBDO         | CORP              | KY        |     4600000 | PA      | $4627531.00   | 0.12%             | 2038-10-15      | Floating      | 11.61%                | No            | 2                  | On Loan: No      |
| Cogent Communications Holdings Inc                        | Cogent Communications Holdings Inc                                               | CUSIP: 19239V302<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-14463.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Spirax Group PLC                                          | Spirax Group PLC                                                                 | CUSIP: 000000000<br>LEI: 213800WFVZQMHOZP2W17 | Short            | EC               | CORP              | GB        |         -79 | NS      | $-6460.05     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Commodities Exchange Center                               | GOLD 100 OZ FUTR  Aug25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         128 | NC      | $-630187.50   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Goodyear Tire & Rubber Co/The                             | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Short            | EC               | CORP              | US        |      -67100 | NS      | $-695827.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Asurion LLC                                               | Asurion LLC 2021 2nd Lien Term Loan B3                                           | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     1429835 | PA      | $1363705.18   | 0.04%             | 2028-01-31      | Floating      | 9.69%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | BRENT FIN LAST DA DEC 25                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          94 | NC      | $-506980.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Draganfly Inc                                             | Draganfly Inc                                                                    | CUSIP: 26142Q304<br>LEI: 894500SZMK5WX44WHE32 | Short            | EC               | CORP              | CA        |       -1300 | NS      | $-4121.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Two Harbors Investment Corp                               | Two Harbors Investment Corp                                                      | CUSIP: 90187B804<br>LEI: 549300ZUIBT6KH4HU823 | Short            | EC               |  | US        |        -350 | NS      | $-3769.50     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.3325% 06/22/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1200000 | OU      | $7409.03      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| GrowGeneration Corp                                       | GrowGeneration Corp                                                              | CUSIP: 39986L109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-187.02      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| El Pollo Loco Holdings Inc                                | El Pollo Loco Holdings Inc                                                       | CUSIP: 268603107<br>LEI: 549300EZCBNF4G707K90 | Short            | EC               | CORP              | US        |        -100 | NS      | $-1101.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ReadyCap Commercial Mortgage Trust                        | ReadyCap Commercial Mortgage Trust 2019-6                                        | CUSIP: 75575QAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1691000 | PA      | $1530742.24   | 0.04%             | 2052-10-25      | Variable      | 4.13%                 | No            | 2                  | On Loan: No      |
| inTEST Corp                                               | inTEST Corp                                                                      | CUSIP: 461147100<br>LEI: 549300RJJBPHDOAVDU15 | Long             | EC               | CORP              | US        |        1100 | NS      | $8008.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.1% 06/30/2028 LCH                                                     | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    -1080000 | OU      | $-1120.95     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.648% 04/12/2027 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   -19400000 | OU      | $4761.84      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | SELL CDX.NA.IG.44-V1_100BPS_20300620_ICE1.0%                                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    41000000 | OU      | $916625.02    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137BLN38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     2177000 | PA      | $217.70       | 0.00%             | 2043-10-25      | Variable      | 1.62%                 | No            | 2                  | On Loan: No      |
| Velocity Commercial Capital Loan Trust                    | Velocity Commercial Capital Loan Trust 2023-3                                    | CUSIP: 92258WAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2736623 | PA      | $2809603.33   | 0.07%             | 2053-08-25      | Variable      | 7.51%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JUN 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $35550.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | KARMAN HOLDINGS INC CFD                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -3702686 | OU      | $-72848.11    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.777% 03/27/2035 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |     -200000 | OU      | $6994.92      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| ARES CLO Ltd                                              | Ares LXVI CLO Ltd                                                                | CUSIP: 04019TAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     2000000 | PA      | $1996302.00   | 0.05%             | 2036-07-25      | Floating      | 11.28%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.805% 01/09/2040 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -2200000 | OU      | $5062.89      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| NYSE Euronext Liffe                                       | EURIBOR 3MO (LIFFE) JUN 27                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         214 | NC      | $-17327.64    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Radiant Logistics Inc                                     | Radiant Logistics Inc                                                            | CUSIP: 75025X100<br>LEI: 549300HWCW2HBOG4GN20 | Long             | EC               | CORP              | US        |        1500 | NS      | $9120.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FYUM6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1000000 | PA      | $128903.00    | 0.00%             | 2031-04-25      | Variable      | 2.88%                 | No            | 2                  | On Loan: No      |
| Up Fintech Holding Ltd                                    | Up Fintech Holding Ltd                                                           | CUSIP: 91531W106<br>LEI: 213800JJDNMAG3L84P54 | Long             | EC               | CORP              | KY        |        3500 | NS      | $33775.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cadiz Inc                                                 | Cadiz Inc                                                                        | CUSIP: 127537207<br>LEI: 549300PFFIS1TCKZS151 | Short            | EC               | CORP              | US        |       -3946 | NS      | $-11798.54    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust               | MF1 2021-FL6 Ltd                                                                 | CUSIP: 55283TAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      100000 | PA      | $99196.80     | 0.00%             | 2036-07-16      | Floating      | 6.98%                 | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.4875% 04/29/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     4000000 | OU      | $-102413.65   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BUYCDSCDX.NA.HY.43-V1_500BPS_20291220_ICE5.0%                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |      100000 | OU      | $-7464.28     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Phreesia Inc                                              | Phreesia Inc                                                                     | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Short            | EC               | CORP              | US        |        -700 | NS      | $-19922.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.9663% 10/02/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $3175.68      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Chord Energy Corp                                         | Chord Energy Corp                                                                | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Short            | EC               | CORP              | US        |       -1572 | NS      | $-152248.20   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | INTERMESTIC INC CFD                                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | JP        |   364803600 | OU      | $90117.96     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Werewolf Therapeutics Inc                                 | Werewolf Therapeutics Inc                                                        | CUSIP: 95075A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3200 | NS      | $3488.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | GLOBEX NATURL GAS OCT25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -13 | NC      | $50280.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME ALUMINUM (LISTED) JUL 25                                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         -85 | NC      | $-352856.25   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Lockheed Martin Corp                                      | Lockheed Martin Corp                                                             | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |       23800 | NS      | $11022732.00  | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| EyePoint Pharmaceuticals Inc                              | EyePoint Pharmaceuticals Inc                                                     | CUSIP: 30233G209<br>LEI: 549300QE1RU34T50MR69 | Long             | EC               | CORP              | US        |        1300 | NS      | $12233.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Banc of California Inc                                    | Banc of California Inc                                                           | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |        2874 | NS      | $40379.70     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlanticus Holdings Corp                                  | Atlanticus Holdings Corp                                                         | CUSIP: 04914Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $5475.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kennedy-Wilson Holdings Inc                               | Kennedy-Wilson Holdings Inc                                                      | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Short            | EC               | CORP              | US        |       -4000 | NS      | $-27200.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chemours Co/The                                           | Chemours Co/The                                                                  | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |        5500 | NS      | $62975.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Horizon Bancorp Inc/IN                                    | Horizon Bancorp Inc/IN                                                           | CUSIP: 440407104<br>LEI: 549300U2OQ2EIT5MXG39 | Long             | EC               | CORP              | US        |        1600 | NS      | $24608.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD GBP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-521212.75   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | Buy SOAF SNRFOR USD 100 Jun 2030 GOLD_ISDA 1%                                    | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | ZA        |    10100000 | OU      | $381158.59    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.00585% 04/17/2040 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -200000 | OU      | $2682.05      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BP PLC                                                    | BP PLC                                                                           | CUSIP: 000000000<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |       72838 | NS      | $362900.33    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                   | WaMu Mortgage Pass-Through Certificates Series 2005-AR9 Trust                    | CUSIP: 92922FV39<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      147486 | PA      | $141057.49    | 0.00%             | 2045-07-25      | Floating      | 5.38%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT OCT27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          61 | NC      | $31172.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Solaris Energy Infrastructure Inc                         | Solaris Energy Infrastructure Inc                                                | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |        2700 | NS      | $76383.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Lemonade Inc                                              | Lemonade Inc                                                                     | CUSIP: 52567D107<br>LEI: 5493009BKR06OXXU6853 | Long             | EC               | CORP              | US        |        5827 | NS      | $255280.87    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER DEC 25 8000P                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          60 | NC      | $66660.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.107% 04/29/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -200000 | OU      | $-3364.68     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Ceribell Inc                                              | Ceribell Inc                                                                     | CUSIP: 15678C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1600 | NS      | $29968.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                                    | U.S. Treasury Bills                                                              | CUSIP: 912797QV2<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    12500000 | PA      | $12377288.50  | 0.33%             | 2025-09-23      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| NYSE Euronext Liffe                                       | FTSE 100 IDX FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | GB        |         114 | NC      | $-135541.85   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Affirm Holdings Inc                                       | Affirm Holdings Inc                                                              | CUSIP: 00827B106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5068 | NS      | $-350401.52   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | S&P 500 INDEX DEC 26 9000C                                                       | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |        4382 | NC      | $2541560.00   | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc                 | HA Sustainable Infrastructure Capital Inc                                        | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Short            | EC               | CORP              | US        |       -5200 | NS      | $-139672.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LLPL CAPITAL PTE LTD                                      | LLPL Capital Pte Ltd                                                             | CUSIP: 000000000<br>LEI: 254900VXZ8FXTUQNON22 | Long             | ABS-MBS          | CORP              | SG        |     2278318 | PA      | $2317823.62   | 0.06%             | 2039-02-04      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| National Research Corp                                    | National Research Corp                                                           | CUSIP: 637372202<br>LEI: 549300FQIORB6GZCYT15 | Long             | EC               | CORP              | US        |         100 | NS      | $1680.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ZipRecruiter Inc                                          | ZipRecruiter Inc                                                                 | CUSIP: 98980B103<br>LEI: 549300HLOVNNFCY2IV80 | Short            | EC               | CORP              | US        |        -400 | NS      | $-2004.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS AUD 4.415% 05/25/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | AU        |     -300000 | OU      | $2550.28      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | ICE ENDEX DUTCH TTF NATURAL GAS FUTURES NOV 25 50C                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          60 | NC      | $57095.71     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kingsoft Cloud Holdings Ltd                               | Kingsoft Cloud Holdings Ltd                                                      | CUSIP: 49639K101<br>LEI: 875500HZE0VKCD0Z8K15 | Short            | EC               | CORP              | KY        |       -2900 | NS      | $-36308.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    13200000 | OU      | $324019.67    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Olaplex Holdings Inc                                      | Olaplex Holdings Inc                                                             | CUSIP: 679369108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       14400 | NS      | $20160.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Spirit AeroSystems Holdings Inc                           | Spirit AeroSystems Holdings Inc                                                  | CUSIP: 848574109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5300 | NS      | $-202195.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.425% 10/30/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -3000000 | OU      | $2077.88      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| 180 Life Sciences Corp                                    | 180 Life Sciences Corp                                                           | CUSIP: 68236V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          31 | NS      | $29.20        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Monogram Technologies Inc                                 | Monogram Technologies Inc                                                        | CUSIP: 609786108<br>LEI: 549300ZJ3SWODJZ0FY92 | Short            | EC               | CORP              | US        |        -900 | NS      | $-2601.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ironwood Pharmaceuticals Inc                              | Ironwood Pharmaceuticals Inc                                                     | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |       38800 | NS      | $27827.36     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mortgage Trust Inc                               | New York Mortgage Trust Inc                                                      | CUSIP: 649604840<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EC               |  | US        |          75 | NS      | $502.50       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fastly Inc                                                | Fastly Inc                                                                       | CUSIP: 31188V100<br>LEI: 549300E2FZC83FJ3H565 | Long             | EC               | CORP              | US        |       15700 | NS      | $110842.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Colliers International Group Inc                          | Colliers International Group Inc                                                 | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Short            | EC               | CORP              | CA        |        -800 | NS      | $-104432.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.3987% 10/31/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $-463.45      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Capital Bancorp Inc                                       | Capital Bancorp Inc                                                              | CUSIP: 139737100<br>LEI: 549300LQKYGWQ7VP0C75 | Short            | EC               | CORP              | US        |      -10758 | NS      | $-361253.64   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Papa John's International Inc                             | Papa John's International Inc                                                    | CUSIP: 698813102<br>LEI: HZYLD3DK5XOX0WBVNB56 | Short            | EC               | CORP              | US        |       -2900 | NS      | $-141926.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE VIX FUTURE   Oct25                                                          | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |        -210 | NC      | $130188.29    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gerdau SA                                                 | Gerdau SA                                                                        | CUSIP: 373737105<br>LEI: 254900YDV6SEQQPZVG24 | Long             | EC               | CORP              | BR        |        4080 | NS      | $11913.60     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Casey's General Stores Inc                                | Casey's General Stores Inc                                                       | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Short            | EC               | CORP              | US        |       -2000 | NS      | $-1020540.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| CoreCard Corp                                             | CoreCard Corp                                                                    | CUSIP: 45816D100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $5794.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Neuronetics Inc                                           | Neuronetics Inc                                                                  | CUSIP: 64131A105<br>LEI: 549300T0911ILTTG7P06 | Long             | EC               | CORP              | US        |        2600 | NS      | $9074.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.NA.HY.44 USD 500 Jun 2030 Morgan 5%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     5900000 | OU      | $-451236.59   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Hologic Inc                                               | Hologic Inc                                                                      | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Short            | EC               | CORP              | US        |        -900 | NS      | $-58644.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | BRENT FIN LAST DA OCT 25                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           1 | NC      | $-2960.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cytek Biosciences Inc                                     | Cytek Biosciences Inc                                                            | CUSIP: 23285D109<br>LEI: 549300K2J28BOC6FBO89 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-4080.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MERSIN ULUSLARARASI LIMA                                  | Mersin Uluslararasi Liman Isletmeciligi AS                                       | CUSIP: 000000000<br>LEI: 635400DAFN6NT43HM530 | Long             | DBT              | CORP              | TR        |     3241000 | PA      | $3368162.97   | 0.09%             | 2028-11-15      | Fixed         | 8.25%                 | Yes           | 2                  | On Loan: No      |
| Eurex Deutschland                                         | Short Euro-BTP Fu Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         357 | NC      | $-72961.80    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Manchester United Plc                                     | Manchester United Plc                                                            | CUSIP: 000000000<br>LEI: 529900GWGZPE83MJOV59 | Short            | EC               | CORP              | KY        |        -700 | NS      | $-12467.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MidOcean Credit CLO                                       | Midocean Credit CLO XV Ltd                                                       | CUSIP: 59801FAJ2<br>LEI: 254900R5AXF91DYP1Y16 | Long             | ABS-CBDO         | CORP              | JE        |     2000000 | PA      | $1989944.00   | 0.05%             | 2037-07-21      | Floating      | 7.62%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | Variance Swap - SX5E (20.45% - 2025-09-19)                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | XX        |        2323 | OU      | $-248081.64   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT DEC 26                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -33 | NC      | $-31600.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ACADIA Pharmaceuticals Inc                                | ACADIA Pharmaceuticals Inc                                                       | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |        5800 | NS      | $125106.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Quantum-Si Inc                                            | Quantum-Si Inc                                                                   | CUSIP: 74765K105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4000 | NS      | $-7840.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Exeter Automobile Receivables Trust                       | Exeter Automobile Receivables Trust 2024-4                                       | CUSIP: 30166UAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1480000 | PA      | $1522515.96   | 0.04%             | 2032-02-17      | Fixed         | 7.65%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS EUR 09/01/25 3.75C                                                   | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          21 | NC      | $45675.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Mexico Government International Bonds                     | Mexico Government International Bonds                                            | CUSIP: 91087BAV2<br>LEI: 254900EGTWEU67VP6075 | Short            | DBT              | NUSS              | MX        |    -9985000 | PA      | $-10198179.75 | -0.27%            | 2035-02-09      | Fixed         | 6.35%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | BOUGHT EUR/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | XX        |           1 | NC      | $3068.37      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CryoPort Inc                                              | CryoPort Inc                                                                     | CUSIP: 229050307<br>LEI: 9845004D8538BT8JF626 | Short            | EC               | CORP              | US        |        -300 | NS      | $-2238.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Citimortgage Alternative Loan Trust                       | CitiMortgage Alternative Loan Trust Series 2006-A4                               | CUSIP: 17309VAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      710889 | PA      | $575316.73    | 0.02%             | 2036-09-25      | Floating      | 5.08%                 | No            | 2                  | On Loan: No      |
| IBEX Holdings Ltd                                         | IBEX Holdings Ltd                                                                | CUSIP: 000000000<br>LEI: 5493000GRFLPVYU2CX17 | Long             | EC               | CORP              | BM        |        1800 | NS      | $52380.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidus Investment Corp                                     | Fidus Investment Corp                                                            | CUSIP: 316500107<br>LEI: 549300836CRWCROFBC02 | Long             | EC               | CORP              | US        |        1500 | NS      | $30300.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Neurogene Inc                                             | Neurogene Inc                                                                    | CUSIP: 64135M105<br>LEI: 529900A7VIY892SZVW73 | Short            | EC               | CORP              | US        |        -200 | NS      | $-2990.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ziff Davis Inc                                            | Ziff Davis Inc                                                                   | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Short            | EC               | CORP              | US        |        -100 | NS      | $-3027.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JAN 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $101350.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CoreVest American Finance Ltd                             | CoreVest American Finance 2021-2 Trust                                           | CUSIP: 21873BAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      532908 | PA      | $15212.38     | 0.00%             | 2054-07-15      | Variable      | 3.03%                 | No            | 2                  | On Loan: No      |
| Cummins Inc                                               | Cummins Inc                                                                      | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |          31 | NS      | $10152.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | CSAIL 2015-C3 Commercial Mortgage Trust                                          | CUSIP: 12635FAV6<br>LEI: 549300ZAGI6FKGY8O078 | Long             | ABS-MBS          | CORP              | US        |    19831576 | PA      | $8706.06      | 0.00%             | 2048-08-15      | Variable      | 0.62%                 | No            | 2                  | On Loan: No      |
| Allegiant Travel Co                                       | Allegiant Travel Co                                                              | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Short            | EC               | CORP              | US        |        -700 | NS      | $-38465.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.753% 09/02/2059 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -550000 | OU      | $-18022.70    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Brainsway Ltd                                             | Brainsway Ltd                                                                    | CUSIP: 10501L106<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |         700 | NS      | $9205.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Royal Caribbean Cruises Ltd                               | Royal Caribbean Cruises Ltd                                                      | CUSIP: 000000000<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |        3109 | NS      | $973552.26    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| IDEX Corp                                                 | IDEX Corp                                                                        | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |       31012 | NS      | $5444776.84   | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS ZAR 7.5395% 09/18/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | ZA        |  -828000000 | OU      | $332840.13    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Stanley Black & Decker Inc                                | Stanley Black & Decker Inc                                                       | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Short            | EC               | CORP              | US        |       -3100 | NS      | $-210025.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT SGD/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | SG        |           1 | NC      | $10309.33     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Lotus Technology inc                                      | Lotus Technology inc                                                             | CUSIP: 54572F101<br>LEI: 984500BB84E413EA3D69 | Short            | EC               | CORP              | KY        |        -300 | NS      | $-660.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AT&T Inc                                                  | AT&T Inc                                                                         | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Short            | EC               | CORP              | US        |     -178500 | NS      | $-5165790.00  | -0.14%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL FUT SEP 25 50P                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-14000.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Elanco Animal Health Inc                                  | Elanco Animal Health Inc                                                         | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Short            | EC               | CORP              | US        |      -37500 | NS      | $-535500.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-J1                                                   | CUSIP: 02149MCH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      328920 | PA      | $227963.55    | 0.01%             | 2036-11-25      | Variable      | 4.18%                 | No            | 2                  | On Loan: No      |
| Keros Therapeutics Inc                                    | Keros Therapeutics Inc                                                           | CUSIP: 492327101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1500 | NS      | $-20025.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BX Trust                                                  | BX Commercial Mortgage Trust 2020-VIVA                                           | CUSIP: 12433XAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5006000 | PA      | $4507252.22   | 0.12%             | 2044-03-11      | Variable      | 3.67%                 | No            | 2                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER DEC 26 8500P                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          40 | NC      | $374700.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | EURO-BUXL 30Y BND Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         -99 | NC      | $213073.78    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT JUN27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          28 | NC      | $-12250.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.14065% 11/07/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      200000 | OU      | $3833.36      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Norfolk Southern Corp                                     | Norfolk Southern Corp                                                            | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |         128 | NS      | $32764.16     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares MSCI Taiwan ETF                                   | iShares MSCI Taiwan ETF                                                          | CUSIP: 46434G772<br>LEI: NOTS2OVXOI43240U2196 | Short            | EC               | RF                | US        |        -252 | NS      | $-14464.80    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Corp Trust 2020-DUNE                                      | CUSIP: 36258BAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    15243000 | PA      | $152.43       | 0.00%             | 2036-12-15      | Variable      | 0.00%                 | No            | 2                  | On Loan: No      |
| Big 5 Sporting Goods Corp                                 | Big 5 Sporting Goods Corp                                                        | CUSIP: 08915P101<br>LEI: 529900BFAM7VKQMKUC49 | Long             | EC               | CORP              | US        |         800 | NS      | $1136.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Senti Biosciences Inc                                     | Senti Biosciences Inc                                                            | CUSIP: 81726A209<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-844.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.09495% 01/08/2035 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      300000 | OU      | $-9936.69     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 38C                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        -660 | NC      | $-250140.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                    | Merrill Lynch Mortgage Investors Trust MLMI Series 2005-A5                       | CUSIP: 59020UYW9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      613214 | PA      | $543779.93    | 0.01%             | 2035-06-25      | Variable      | 4.74%                 | No            | 2                  | On Loan: No      |
| Bitcoin Depot Inc                                         | Bitcoin Depot Inc                                                                | CUSIP: 09174P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5400 | NS      | $27378.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Anheuser-Busch InBev SA/NV                                | Anheuser-Busch InBev SA/NV                                                       | CUSIP: 000000000<br>LEI: 5493008H3828EMEXB082 | Short            | EC               | CORP              | BE        |        -562 | NS      | $-38665.78    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| IHS Holding Ltd                                           | IHS Holding Ltd                                                                  | CUSIP: 000000000<br>LEI: 213800CLGMKL63VKTD94 | Long             | EC               | CORP              | KY        |        7100 | NS      | $39476.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association                  | Government National Mortgage Association                                         | CUSIP: 38382XZ24<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    10795955 | PA      | $2324498.61   | 0.06%             | 2050-02-20      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| BRIGHTLINE EAST LLC                                       | Brightline East LLC                                                              | CUSIP: 093536AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      860000 | PA      | $636400.00    | 0.02%             | 2030-01-31      | Fixed         | 11.00%                | No            | N/A                | On Loan: No      |
| Trinitas CLO Ltd                                          | Trinitas CLO XXVII LTD                                                           | CUSIP: 89642VAJ7<br>LEI: 254900JOSDBR04E6JB79 | Long             | ABS-CBDO         | CORP              | KY        |     3940000 | PA      | $3972784.74   | 0.11%             | 2037-04-18      | Floating      | 8.57%                 | No            | 2                  | On Loan: No      |
| First Citizens BancShares Inc/NC                          | First Citizens BancShares Inc/NC                                                 | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Short            | EC               | CORP              | US        |        -600 | NS      | $-1173882.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| ALT5 Sigma Corp                                           | ALT5 Sigma Corp                                                                  | CUSIP: 47089W104<br>LEI: 549300FLMHTQ5MK4YD23 | Short            | EC               | CORP              | US        |       -1284 | NS      | $-9302.60     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ParaZero Technologies Ltd                                 | ParaZero Technologies Ltd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |       -5450 | NS      | $-6812.50     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      537006 | PA      | $537006.44    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.53475% 01/10/2040 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-5701.81     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | LIVE NATION CFD                                                                  | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |    -2992401 | OU      | $-25937.60    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Eni SpA                                                   | Eni SpA                                                                          | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Short            | EC               | CORP              | IT        |       -1317 | NS      | $-21274.97    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                                            | Microsoft Corp                                                                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      131218 | NS      | $65269145.38  | 1.74%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.9018% 08/23/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -300000 | OU      | $-153.37      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Jamf Holding Corp                                         | Jamf Holding Corp                                                                | CUSIP: 47074L105<br>LEI: 254900IHLXZU4Z5ANA12 | Short            | EC               | CORP              | US        |        -200 | NS      | $-1902.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Five Star Bancorp                                         | Five Star Bancorp                                                                | CUSIP: 33830T103<br>LEI: 5493008ZRBIHKWC0JA73 | Long             | EC               | CORP              | US        |         100 | NS      | $2854.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AEye Inc                                                  | AEye Inc                                                                         | CUSIP: 008183204<br>LEI: 529900T8RQP9BRBDZA71 | Short            | EC               | CORP              | US        |       -3170 | NS      | $-3265.10     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Board of Trade                                   | COCOA DEC 25                                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |           6 | NC      | $-8960.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Amgen Inc                                                 | Amgen Inc                                                                        | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Short            | EC               | CORP              | US        |      -10899 | NS      | $-3043109.79  | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| Express Inc                                               | Express Inc                                                                      | CUSIP: 30219E202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |           0 | NS      | $-3.03        | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Citigroup Global Markets, Inc.                            | Citigroup Global Markets, Inc.                                                   | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | RA               | CORP              | US        |      380902 | PA      | $380902.50    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA16                                                 | CUSIP: 23242GAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      254149 | PA      | $214882.01    | 0.01%             | 2046-10-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| SouthState Corp                                           | SouthState Corp                                                                  | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |          32 | NS      | $2944.96      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Insulet Corp                                              | Insulet Corp                                                                     | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |        1000 | NS      | $314180.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| AP Moller - Maersk A/S                                    | AP Moller - Maersk A/S                                                           | CUSIP: 000000000<br>LEI: 549300D2K6PKKKXVNN73 | Short            | EC               | CORP              | DK        |         -18 | NS      | $-33474.60    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Atlantic Avenue Ltd                                       | Atlantic Avenue 2024-2 Ltd                                                       | CUSIP: 04822BAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2500000 | PA      | $2516215.00   | 0.07%             | 2037-04-20      | Floating      | 9.02%                 | No            | 2                  | On Loan: No      |
| Novo Nordisk A/S                                          | Novo Nordisk A/S                                                                 | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Short            | EC               | CORP              | DK        |       -6385 | NS      | $-443157.18   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | ATLAS ENERGY SOLUTIONS INC CFD                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |     -606435 | OU      | $6201.76      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Shyft Group Inc/The                                       | Shyft Group Inc/The                                                              | CUSIP: 825698103<br>LEI: 549300YY0TB51BGRV994 | Long             | EC               | CORP              | US        |        1200 | NS      | $15048.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N-able Inc/US                                             | N-able Inc/US                                                                    | CUSIP: 62878D100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1100 | NS      | $8910.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-28CB                                                 | CUSIP: 02147TAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      671394 | PA      | $248676.43    | 0.01%             | 2036-10-25      | Floating      | 5.13%                 | No            | 2                  | On Loan: No      |
| Tivic Health Systems Inc                                  | Tivic Health Systems Inc                                                         | CUSIP: 888705308<br>LEI: N/A                  | Short            | EC               | CORP              | US        |          -2 | NS      | $-8.20        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division          | ICE 3MTH SONIA JUN 26                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         629 | NC      | $299144.65    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Olo Inc                                                   | Olo Inc                                                                          | CUSIP: 68134L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7000 | NS      | $62300.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ARES CLO Ltd                                              | Ares LVI CLO Ltd                                                                 | CUSIP: 04018PAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $2004982.00   | 0.05%             | 2038-01-25      | Floating      | 9.63%                 | No            | 2                  | On Loan: No      |
| BorgWarner Inc                                            | BorgWarner Inc                                                                   | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Short            | EC               | CORP              | US        |       -4900 | NS      | $-164052.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bioceres Crop Solutions Corp                              | Bioceres Crop Solutions Corp                                                     | CUSIP: 000000000<br>LEI: 549300SBSSIZUVSY4U27 | Short            | EC               | CORP              | KY        |       -1700 | NS      | $-7599.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chart Industries Inc                                      | Chart Industries Inc                                                             | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Short            | EC               | CORP              | US        |       -4900 | NS      | $-806785.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                     | Wells Fargo Commercial Mortgage Trust 2014-LC18                                  | CUSIP: 94989AAA3<br>LEI: 5493007CD1Q2V06I4172 | Long             | ABS-MBS          | CORP              | US        |      992000 | PA      | $888824.06    | 0.02%             | 2047-12-15      | Variable      | 3.96%                 | No            | 2                  | On Loan: No      |
| 908 Devices Inc                                           | 908 Devices Inc                                                                  | CUSIP: 65443P102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2800 | NS      | $-19964.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Viking Therapeutics Inc                                   | Viking Therapeutics Inc                                                          | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |       12600 | NS      | $333900.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN DEC 25                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -13 | NC      | $-54400.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WeRide Inc                                                | WeRide Inc                                                                       | CUSIP: 950915108<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -1000 | NS      | $-7880.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Banc of America Funding Corporation                       | Banc of America Funding 2006-H Trust                                             | CUSIP: 05950PAS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3747543 | PA      | $1183361.67   | 0.03%             | 2036-10-20      | Floating      | 4.79%                 | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-23CB                                                 | CUSIP: 02151EAR3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      626232 | PA      | $219708.55    | 0.01%             | 2037-09-25      | Floating      | 4.83%                 | No            | 2                  | On Loan: No      |
| Udemy Inc                                                 | Udemy Inc                                                                        | CUSIP: 902685106<br>LEI: 2549000T304QU9SAM180 | Short            | EC               | CORP              | US        |       -1500 | NS      | $-10545.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Independent Bank Corp/MI                                  | Independent Bank Corp/MI                                                         | CUSIP: 453838609<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $16205.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| REPUBLIC OF ECUADOR                                       | Ecuador Government International Bond                                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     3243630 | PA      | $2341252.13   | 0.06%             | 2030-07-31      | None          | 0.00%                 | Yes           | 2                  | On Loan: No      |
| Inhibrx Biosciences Inc                                   | Inhibrx Biosciences Inc                                                          | CUSIP: 45720N103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-2854.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CFK Trust                                                 | CFK Trust 2020-MF2                                                               | CUSIP: 12529AAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    19612000 | PA      | $195492.42    | 0.01%             | 2039-03-15      | Variable      | 0.89%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT PEN/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | PE        |           1 | NC      | $858.71       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| ArcelorMittal SA                                          | ArcelorMittal SA                                                                 | CUSIP: 03938L203<br>LEI: 2EULGUTUI56JI9SAL165 | Short            | EC               | CORP              | LU        |      -13900 | NS      | $-438962.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS FEB 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -53 | NC      | $-59680.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 10/01/25 90C                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -63 | NC      | $6930.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1066445 | PA      | $1066444.94   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Bain Capital Specialty Finance Inc                        | Bain Capital Specialty Finance Inc                                               | CUSIP: 05684B107<br>LEI: 549300V2JL72R0EYBK64 | Long             | EC               | CORP              | US        |        1600 | NS      | $24064.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | CATALIO MS ALPHASWAP MF SWAP                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |   164393003 | OU      | $2007601.10   | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Banc of California Inc                                    | Banc of California Inc                                                           | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Short            | EC               | CORP              | US        |       -6724 | NS      | $-94472.20    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS AUG 25                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         310 | NC      | $-891700.76   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Acacia Research Corp                                      | Acacia Research Corp                                                             | CUSIP: 003881307<br>LEI: 529900BCN7BE6ESPDZ72 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-4296.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TruBridge Inc                                             | TruBridge Inc                                                                    | CUSIP: 205306103<br>LEI: 5493005Q6CJC78TGL805 | Long             | EC               | CORP              | US        |        1200 | NS      | $28104.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kohl's Corp                                               | Kohl's Corp                                                                      | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |       26500 | NS      | $224720.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Magnera Corp                                              | Magnera Corp                                                                     | CUSIP: 55939A107<br>LEI: 549300LDQLQBT38QDY28 | Short            | EC               | CORP              | US        |       -3179 | NS      | $-38402.32    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Korea Exchange (Futures Market)                           | KOREA 10YR BND FU Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | KR        |           7 | NC      | $4356.85      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Immuneering Corp                                          | Immuneering Corp                                                                 | CUSIP: 45254E107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -600 | NS      | $-2022.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| First Foundation Inc                                      | First Foundation Inc                                                             | CUSIP: 32026V104<br>LEI: 254900TQZQ6LBCK77E82 | Long             | EC               | CORP              | US        |      450735 | NS      | $2298748.50   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| EZCORP Inc                                                | EZCORP Inc                                                                       | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |       12400 | NS      | $172112.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cellebrite DI Ltd                                         | Cellebrite DI Ltd                                                                | CUSIP: 000000000<br>LEI: 254900G03462YGP1IO36 | Long             | EC               | CORP              | IL        |       17900 | NS      | $286400.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Helmerich & Payne Inc                                     | Helmerich & Payne Inc                                                            | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Short            | EC               | CORP              | US        |       -6700 | NS      | $-101572.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lexeo Therapeutics Inc                                    | Lexeo Therapeutics Inc                                                           | CUSIP: 52886X107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $1206.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sphere 3D Corp                                            | Sphere 3D Corp                                                                   | CUSIP: 84841L407<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |       -2714 | NS      | $-1601.53     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.577% 02/28/2035 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |      200000 | OU      | $-2096.20     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| FreightCar America Inc                                    | FreightCar America Inc                                                           | CUSIP: 357023100<br>LEI: 254900UEML23YM2EQB31 | Long             | EC               | CORP              | US        |         200 | NS      | $1724.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Packaging Corp of America                                 | Packaging Corp of America                                                        | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |        1900 | NS      | $358055.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Concrete Pumping Holdings Inc                             | Concrete Pumping Holdings Inc                                                    | CUSIP: 206704108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1300 | NS      | $7995.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| IQVIA Holdings Inc                                        | IQVIA Holdings Inc                                                               | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |       13500 | NS      | $2127465.00   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| ELP 2021-ELP                                              | ELP Commercial Mortgage Trust 2021-ELP                                           | CUSIP: 26863LAS3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1035794 | PA      | $1035241.26   | 0.03%             | 2038-11-15      | Floating      | 8.04%                 | No            | 2                  | On Loan: No      |
| Veeva Systems Inc                                         | Veeva Systems Inc                                                                | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |        6200 | NS      | $1785476.00   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| PDL BioPharma Inc                                         | PDL BioPharma Inc                                                                | CUSIP: 69329Y104<br>LEI: FE4K0NQFI4D86DSOL165 | Short            | EC               | CORP              | US        |       -4500 | NS      | $-11115.00    | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Outlook Therapeutics Inc                                  | Outlook Therapeutics Inc                                                         | CUSIP: 69012T305<br>LEI: 5493007AWUJ6HPMCBH11 | Short            | EC               | CORP              | US        |       -3810 | NS      | $-6096.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CRA International Inc                                     | CRA International Inc                                                            | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1200 | NS      | $224844.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Axon Enterprise Inc                                       | Axon Enterprise Inc                                                              | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |         300 | NS      | $248382.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Reviva Pharmaceuticals Holdings Inc                       | Reviva Pharmaceuticals Holdings Inc                                              | CUSIP: 76152G100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2500 | NS      | $-952.75      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ResMed Inc                                                | ResMed Inc                                                                       | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Short            | EC               | CORP              | US        |       -1707 | NS      | $-440406.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | CSAIL 2018-CX11 Commercial Mortgage Trust                                        | CUSIP: 12652UAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      604000 | PA      | $486933.32    | 0.01%             | 2051-04-15      | Variable      | 2.75%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | HYNIX SEMICONDUCTORS-CFD USD                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | KR        |      327635 | OU      | $49672.80     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Avnet Inc                                                 | Avnet Inc                                                                        | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Short            | EC               | CORP              | US        |        -300 | NS      | $-15924.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Avita Medical Inc                                         | Avita Medical Inc                                                                | CUSIP: 05380C102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-2116.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Tsakos Energy Navigation Ltd                              | Tsakos Energy Navigation Ltd                                                     | CUSIP: 000000000<br>LEI: 549300IFUTS62LRRCU54 | Long             | EC               | CORP              | BM        |        2100 | NS      | $40299.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Exeter Automobile Receivables Trust                       | Exeter Automobile Receivables Trust 2025-1                                       | CUSIP: 30167MAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1558000 | PA      | $1599924.22   | 0.04%             | 2032-09-15      | Fixed         | 7.48%                 | No            | 2                  | On Loan: No      |
| Surmodics Inc                                             | Surmodics Inc                                                                    | CUSIP: 868873100<br>LEI: 549300H76KXCAAGUS878 | Short            | EC               | CORP              | US        |        -500 | NS      | $-14855.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | Brent Fin Last Da Aug25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -130 | NC      | $846720.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      363282 | PA      | $363281.96    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| StandardAero Inc                                          | StandardAero Inc                                                                 | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      160618 | NS      | $5083559.70   | 0.14%             |  |  |  | No            | N/A                | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 0.65935% 03/11/2035 CMD                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     1500000 | OU      | $371651.16    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| UMB Financial Corp                                        | UMB Financial Corp                                                               | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |          20 | NS      | $2103.20      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Lands' End Inc                                            | Lands' End Inc                                                                   | CUSIP: 51509F105<br>LEI: 54930016WOL7P2P67Q43 | Short            | EC               | CORP              | US        |        -200 | NS      | $-2142.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD TWD/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-892082.01   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Jade Biosciences Inc                                      | Jade Biosciences Inc                                                             | CUSIP: 008064206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |           5 | NS      | $49.95        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Oatly Group AB                                            | Oatly Group AB                                                                   | CUSIP: 67421J207<br>LEI: 894500CEIOQNBAH10Z10 | Short            | EC               | CORP              | SE        |         -25 | NS      | $-296.75      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Silvercorp Metals Inc                                     | Silvercorp Metals Inc                                                            | CUSIP: 82835P103<br>LEI: 52990092RT3UCQ7G3177 | Long             | EC               | CORP              | CA        |        6200 | NS      | $26164.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | MNTN INC-A CFD                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |     -151674 | OU      | $9125.20      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Mexico Government International Bonds                     | Mexico Government International Bonds                                            | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Short            | DBT              | NUSS              | MX        |    -8000000 | PA      | $-8338400.00  | -0.22%            | 2037-05-13      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.44475% 08/21/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -300000 | OU      | $-7805.36     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | MEXICAN PESO FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         459 | NC      | $170977.50    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Golden Sun Health Technology Group ltd                    | Golden Sun Health Technology Group ltd                                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -400 | NS      | $-952.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      662618 | PA      | $662617.79    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| MEXICAN UDIBONOS                                          | Mexican Udibonos                                                                 | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    32307714 | PA      | $1652911.16   | 0.04%             | 2035-11-22      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Urgent.ly Inc                                             | Urgent.ly Inc                                                                    | CUSIP: 916931207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-1280.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| ADC Therapeutics SA                                       | ADC Therapeutics SA                                                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | CH        |        -309 | NS      | $-828.12      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT SEP 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $53825.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GoPro Inc                                                 | GoPro Inc                                                                        | CUSIP: 38268T103<br>LEI: 549300CQJMLT21SZFL16 | Long             | EC               | CORP              | US        |       31500 | NS      | $23854.92     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | INFINITY NATURAL RESOUR-CL A CFD                                                 | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |     -197690 | OU      | $1626.51      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| QMMM Holdings Ltd                                         | QMMM Holdings Ltd                                                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -7400 | NS      | $-10360.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                                    | U.S. Treasury Bills                                                              | CUSIP: 912797MG9<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    12500000 | PA      | $12445391.25  | 0.33%             | 2025-08-07      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy Traxx Europe Xover Series 43 EUR 500 Jun 2030                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     5200000 | OU      | $-579703.45   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Element Solutions Inc                                     | Element Solutions Inc                                                            | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Short            | EC               | CORP              | US        |      -10487 | NS      | $-237530.55   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS DEC 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -53 | NC      | $16640.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Volato Group Inc                                          | Volato Group Inc                                                                 | CUSIP: 74349W302<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -24 | NS      | $-30.96       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BENCHMARK Mortgage Trust                                  | Benchmark 2018-B7 Mortgage Trust                                                 | CUSIP: 08162TAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      290000 | PA      | $232584.64    | 0.01%             | 2053-05-15      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| New York Board of Trade                                   | COTTON SEP 25 67P                                                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          42 | NC      | $22050.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Moderna Inc                                               | Moderna Inc                                                                      | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |       92800 | NS      | $2560352.00   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Amerant Bancorp Inc                                       | Amerant Bancorp Inc                                                              | CUSIP: 023576101<br>LEI: 54930071V6LIG79MTL10 | Short            | EC               | CORP              | US        |       -1009 | NS      | $-18394.07    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (720) APR 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |          55 | NC      | $-258096.86   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Dec 2026 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     4800000 | OU      | $47140.21     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CPS Auto Trust                                            | Consumer Portfolio Services Auto Trust 2025-A                                    | CUSIP: 12633SAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1671000 | PA      | $1715990.00   | 0.05%             | 2032-08-16      | Fixed         | 7.65%                 | No            | 2                  | On Loan: No      |
| Birch Grove CLO Ltd.                                      | Birch Grove CLO 7 Ltd                                                            | CUSIP: 09077QAA9<br>LEI: 254900FP4VB7V5ZG0W95 | Long             | ABS-CBDO         | CORP              | JE        |     3100000 | PA      | $3113534.60   | 0.08%             | 2036-10-20      | Floating      | 12.91%                | No            | 2                  | On Loan: No      |
| Bank of America NA                                        | Variance Swap - SPX (19.1% - 2025-09-19)                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |       -4450 | OU      | $-555892.70   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Funko Inc                                                 | Funko Inc                                                                        | CUSIP: 361008105<br>LEI: 529900NG9F0KL5P6NK67 | Short            | EC               | CORP              | US        |        -200 | NS      | $-952.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust             | JP Morgan Chase Commercial Mortgage Securities Trust 2015-JP1                    | CUSIP: 46590KAK0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | ABS-MBS          | CORP              | US        |      102000 | PA      | $93622.74     | 0.00%             | 2049-01-15      | Variable      | 4.88%                 | No            | 2                  | On Loan: No      |
| Flex Ltd                                                  | Flex Ltd                                                                         | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Short            | EC               | CORP              | SG        |      -41400 | NS      | $-2066688.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.5525% 04/06/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1300000 | OU      | $1900.73      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JUL 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -53 | NC      | $374390.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Commercial Mortgage Trust                       | Citigroup Commercial Mortgage Trust 2019-C7                                      | CUSIP: 17328CAM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5347000 | PA      | $306629.06    | 0.01%             | 2072-12-15      | Variable      | 1.30%                 | No            | 2                  | On Loan: No      |
| GLS Auto Receivables Trust                                | GLS Auto Receivables Issuer Trust 2025-1                                         | CUSIP: 36271KAN1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1045000 | PA      | $1067494.67   | 0.03%             | 2032-03-15      | Fixed         | 7.19%                 | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | EURO-BOBL FUTURE  Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         274 | NC      | $-175844.53   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 20P                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        1880 | NC      | $1086640.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Regional Management Corp                                  | Regional Management Corp                                                         | CUSIP: 75902K106<br>LEI: 549300S5O87W87JW4146 | Short            | EC               | CORP              | US        |       -7733 | NS      | $-225880.93   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Wheels Up Experience Inc                                  | Wheels Up Experience Inc                                                         | CUSIP: 96328L205<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -10 | NS      | $-10.70       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Royal Caribbean Cruises Ltd                               | Royal Caribbean Cruises Ltd                                                      | CUSIP: 000000000<br>LEI: K2NEH8QNVW44JIWK7Z55 | Short            | EC               | CORP              | LR        |      -20200 | NS      | $-6325428.00  | -0.17%            |  |  |  | No            | 1                  | On Loan: No      |
| Sculptor CLO Ltd                                          | Sculptor CLO XXIX Ltd                                                            | CUSIP: 81124EAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $2002516.00   | 0.05%             | 2034-10-22      | Floating      | 7.73%                 | No            | 2                  | On Loan: No      |
| Inotiv Inc                                                | Inotiv Inc                                                                       | CUSIP: 45783Q100<br>LEI: 549300FH5Z13X0Q5SK81 | Short            | EC               | CORP              | US        |        -300 | NS      | $-546.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bitdeer Technologies Group                                | Bitdeer Technologies Group                                                       | CUSIP: 000000000<br>LEI: 2549007M2KGWVJ9XFP20 | Short            | EC               | CORP              | KY        |      -23300 | NS      | $-267484.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Silver Point CLO, Ltd                                     | Silver Point Clo 5 Ltd                                                           | CUSIP: 82809BAL0<br>LEI: 254900IB4JHW6SUR0Q75 | Long             | ABS-CBDO         | CORP              | KY        |     1095000 | PA      | $1094901.45   | 0.03%             | 2037-10-20      | Floating      | 8.62%                 | No            | 2                  | On Loan: No      |
| Huron Consulting Group Inc                                | Huron Consulting Group Inc                                                       | CUSIP: 447462102<br>LEI: 549300NGVB9H6TKTLE36 | Long             | EC               | CORP              | US        |         100 | NS      | $13754.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Iovance Biotherapeutics Inc                               | Iovance Biotherapeutics Inc                                                      | CUSIP: 462260100<br>LEI: 2549002L8WT2ACU5Q878 | Long             | EC               | CORP              | US        |       27800 | NS      | $47816.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vita Coco Co Inc/The                                      | Vita Coco Co Inc/The                                                             | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |       22058 | NS      | $796293.80    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| PRIMA Capital LTD                                         | Prima Capital CRE Securitization 2019-RK1 Ltd                                    | CUSIP: 74166GAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |      339000 | PA      | $291767.47    | 0.01%             | 2038-04-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL FUT SEP 25 80C                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          42 | NC      | $13440.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.49% 01/09/2040 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-7023.02     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Mercurity Fintech Holding Inc                             | Mercurity Fintech Holding Inc                                                    | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -1300 | NS      | $-5005.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Charter Communications Inc                                | Charter Communications Inc                                                       | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Short            | EC               | CORP              | US        |      -11960 | NS      | $-4889367.60  | -0.13%            |  |  |  | No            | 1                  | On Loan: No      |
| Coupang Inc                                               | Coupang Inc                                                                      | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |      121200 | NS      | $3631152.00   | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE DEC 25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          19 | NC      | $-8811.06     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Oportun Funding LLC                                       | Oportun Funding Trust 2025-1                                                     | CUSIP: 68377PAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      661000 | PA      | $663464.21    | 0.02%             | 2032-08-16      | Fixed         | 8.27%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | SEIGA MIX                                                                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |   236454895 | OU      | $2433771.45   | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT APR26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         720 | NC      | $192512.70    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER JUN 26 10500C                                                         | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          60 | NC      | $729000.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | DO-USDXAU(USD) 12/18/25 2300P                                                    | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCO              |  | US        |    21850000 | NC      | $32545.18     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| NeoVolta Inc                                              | NeoVolta Inc                                                                     | CUSIP: 640655106<br>LEI: 549300KZ9T40JVOBUV74 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-3960.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Kyverna Therapeutics Inc                                  | Kyverna Therapeutics Inc                                                         | CUSIP: 501976104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1500 | NS      | $4605.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Amphastar Pharmaceuticals Inc                             | Amphastar Pharmaceuticals Inc                                                    | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |         500 | NS      | $11480.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Academy Sports & Outdoors Inc                             | Academy Sports & Outdoors Inc                                                    | CUSIP: 00402L107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3500 | NS      | $-156835.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| GENER MEDIT/CENT TERMICA                                  | Generacion Mediterranea SA / Central Termica Roca SA                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | AR        |     1909000 | PA      | $1107220.00   | 0.03%             | 2031-11-01      | Fixed         | 11.00%                | Yes           | 2                  | On Loan: No      |
| Pinnacle West Capital Corp                                | Pinnacle West Capital Corp                                                       | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |        3500 | NS      | $313145.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Gryphon Digital Mining Inc                                | Gryphon Digital Mining Inc                                                       | CUSIP: 400510103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -24400 | NS      | $-21503.72    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Viper Energy Inc                                          | Viper Energy Inc                                                                 | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |       48039 | NS      | $1831727.07   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.9038% 03/05/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -200000 | OU      | $269.71       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Occidental Petroleum Corp                                 | Occidental Petroleum Corp                                                        | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Short            | EC               | CORP              | US        |       -8464 | NS      | $-355572.64   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      494368 | PA      | $494367.64    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT SEK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | SE        |           1 | NC      | $4333.73      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Inozyme Pharma Inc                                        | Inozyme Pharma Inc                                                               | CUSIP: 45790W108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -700 | NS      | $-2800.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Information Services Group Inc                            | Information Services Group Inc                                                   | CUSIP: 45675Y104<br>LEI: 549300ZUNI6DQ0G8Q273 | Long             | EC               | CORP              | US        |        1900 | NS      | $9120.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Adeia Inc                                                 | Adeia Inc                                                                        | CUSIP: 00676P107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1000 | NS      | $-14140.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NVIDIA Corp                                               | NVIDIA Corp                                                                      | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |       95386 | NS      | $15070034.14  | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Farmers National Banc Corp                                | Farmers National Banc Corp                                                       | CUSIP: 309627107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         800 | NS      | $11032.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dow Inc                                                   | Dow Inc                                                                          | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Short            | EC               | CORP              | US        |       -7870 | NS      | $-208397.60   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| FingerMotion Inc                                          | FingerMotion Inc                                                                 | CUSIP: 31788K108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -25 | NS      | $-50.75       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Monday.com Ltd                                            | Monday.com Ltd                                                                   | CUSIP: 000000000<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |        2800 | NS      | $880544.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Marcus Corp/The                                           | Marcus Corp/The                                                                  | CUSIP: 566330106<br>LEI: 549300NL0OKPNEMP6B79 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-26976.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cactus Inc                                                | Cactus Inc                                                                       | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Short            | EC               | CORP              | US        |       -6000 | NS      | $-262320.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Deere & Co                                                | Deere & Co                                                                       | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Short            | EC               | CORP              | US        |      -15000 | NS      | $-7627350.00  | -0.20%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | TAIWAN SEMICON CFD (USD)                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | TW        |     4607862 | OU      | $310714.76    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| JBT Marel Corp                                            | JBT Marel Corp                                                                   | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Short            | EC               | CORP              | US        |       -1700 | NS      | $-204442.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HEATING OIL NOV 25                                                               | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -56 | NC      | $316233.29    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Rubrik Inc                                                | Rubrik Inc                                                                       | CUSIP: 781154109<br>LEI: 254900TRGK2WTBYMYU27 | Long             | EC               | CORP              | US        |       11300 | NS      | $1012367.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Cingulate Inc                                             | Cingulate Inc                                                                    | CUSIP: 17248W303<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -900 | NS      | $-3663.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.1958% 10/09/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-58.61       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| IAC Inc                                                   | IAC Inc                                                                          | CUSIP: 44891N208<br>LEI: 549300TO56L57RP6P031 | Short            | EC               | CORP              | US        |          -1 | NS      | $-37.34       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.528% 02/05/2030 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $-1429.58     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| FTAI Aviation Ltd                                         | FTAI Aviation Ltd                                                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -6786 | NS      | $-780661.44   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Mondelez International Inc                                | Mondelez International Inc                                                       | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Short            | EC               | CORP              | US        |      -99300 | NS      | $-6696792.00  | -0.18%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.82% 04/26/2027 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    11000000 | OU      | $-46333.63    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT JUN26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         720 | NC      | $473312.70    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  APR27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $-150092.88   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | BOUGHT JPY/SOLD USD                                                              | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | JP        |           1 | NC      | $-1292.58     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Adobe Inc                                                 | Adobe Inc                                                                        | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |       32700 | NS      | $12650976.00  | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphatec Holdings Inc                                     | Alphatec Holdings Inc                                                            | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |        8100 | NS      | $89910.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Mersana Therapeutics Inc                                  | Mersana Therapeutics Inc                                                         | CUSIP: 59045L106<br>LEI: 529900VWD5VDZ7PVOS22 | Long             | EC               | CORP              | US        |       20800 | NS      | $6156.81      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Weave Communications Inc                                  | Weave Communications Inc                                                         | CUSIP: 94724R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4800 | NS      | $39936.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Huize Holding Ltd                                         | Huize Holding Ltd                                                                | CUSIP: 44473E204<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -100 | NS      | $-209.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| VanEck Oil Services ETF                                   | VanEck Oil Services ETF                                                          | CUSIP: 92189H607<br>LEI: 549300WSDUDKDJCJOV22 | Short            | EC               | RF                | US        |        -356 | NS      | $-81983.24    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT INR/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | IN        |           1 | NC      | $1617.13      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 06/01/26 55P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |        -225 | NC      | $-119250.00   | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| New Orleans Hotel Trust                                   | New Orleans Hotel Trust 2019-HNLA                                                | CUSIP: 647622AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1301000 | PA      | $1260960.42   | 0.03%             | 2032-04-15      | Floating      | 7.05%                 | No            | 2                  | On Loan: No      |
| STAAR Surgical Co                                         | STAAR Surgical Co                                                                | CUSIP: 852312305<br>LEI: 5299006LRHI7OJ8BY308 | Long             | EC               | CORP              | US        |         500 | NS      | $8390.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MAUSER PACKAGING SOLUT                                    | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     2026000 | PA      | $2011794.72   | 0.05%             | 2027-04-15      | Fixed         | 9.25%                 | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-7CB                                                  | CUSIP: 12668BXV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      739581 | PA      | $379537.44    | 0.01%             | 2036-05-25      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  DEC25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          32 | NC      | $487644.96    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| AGRIFORCE GROWING SYSTEMS LTD                             | AGRIFORCE GROWING SYSTEMS LTD                                                    | CUSIP: 000000000<br>LEI: 529900AYPDSKXK102L59 | Long             | EC               | CORP              | CA        |          14 | NS      | $10.92        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadridge Financial Solutions Inc                        | Broadridge Financial Solutions Inc                                               | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Short            | EC               | CORP              | US        |        -422 | NS      | $-102558.66   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS AUG 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           4 | NC      | $-7000.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sweetgreen Inc                                            | Sweetgreen Inc                                                                   | CUSIP: 87043Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       13600 | NS      | $202368.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| American Vanguard Corp                                    | American Vanguard Corp                                                           | CUSIP: 030371108<br>LEI: 529900GWI78WZA5M9783 | Long             | EC               | CORP              | US        |        2800 | NS      | $10976.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | VIPER ENERGY INC CFD                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -1378458 | OU      | $9018.79      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN AUG 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-5160.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BARK Inc                                                  | BARK Inc                                                                         | CUSIP: 68622E104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -7884 | NS      | $-6934.01     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Take-Two Interactive Software Inc                         | Take-Two Interactive Software Inc                                                | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |        4521 | NS      | $1097924.85   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Coursera Inc                                              | Coursera Inc                                                                     | CUSIP: 22266M104<br>LEI: 984500573CA1QB7DAC30 | Long             | EC               | CORP              | US        |        1100 | NS      | $9636.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Shore Bancshares Inc                                      | Shore Bancshares Inc                                                             | CUSIP: 825107105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $7860.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pop Culture Group Co Ltd                                  | Pop Culture Group Co Ltd                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |          40 | NS      | $21.76        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Lebanese Republic                                         | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    41209000 | PA      | $7720506.15   | 0.21%             | 2020-03-09      | None          | 0.00%                 | Yes           | 2                  | On Loan: No      |
| Zevra Therapeutics Inc                                    | Zevra Therapeutics Inc                                                           | CUSIP: 488445206<br>LEI: 254900CU6T74V18Y1W18 | Short            | EC               | CORP              | US        |       -7400 | NS      | $-65194.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fortinet Inc                                              | Fortinet Inc                                                                     | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Short            | EC               | CORP              | US        |       -1548 | NS      | $-163654.56   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hagerty Inc                                               | Hagerty Inc                                                                      | CUSIP: 405166109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1400 | NS      | $14154.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CURO GROUP HLDGS LLC                                      | CURO GROUP HLDGS LLC                                                             | CUSIP: 23132H105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      645803 | NS      | $3336864.11   | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| Wendy's Co/The                                            | Wendy's Co/The                                                                   | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Short            | EC               | CORP              | US        |      -35300 | NS      | $-403126.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     5821123 | PA      | $5821123.36   | 0.16%             |  |  |  | No            | 2                  | On Loan: No      |
| Teradata Corp                                             | Teradata Corp                                                                    | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |        1500 | NS      | $33465.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT SGD/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | SG        |           1 | NC      | $22178.54     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Viemed Healthcare Inc                                     | Viemed Healthcare Inc                                                            | CUSIP: 92663R105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |        1600 | NS      | $11056.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-592.51      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | Variance Swap - SX5E (19.6% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | XX        |       -2168 | OU      | $-211094.19   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | GLOBEX NATURL GAS AUG25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          15 | NC      | $-26550.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Braze Inc                                                 | Braze Inc                                                                        | CUSIP: 10576N102<br>LEI: 9845007B9EDBFD37C277 | Short            | EC               | CORP              | US        |      -13200 | NS      | $-370920.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Diversified Healthcare Trust                              | Diversified Healthcare Trust                                                     | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               |  | US        |        3100 | NS      | $11098.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Celldex Therapeutics Inc                                  | Celldex Therapeutics Inc                                                         | CUSIP: 15117B202<br>LEI: 529900F018DMYWH38923 | Long             | EC               | CORP              | US        |         300 | NS      | $6105.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cassava Sciences Inc                                      | Cassava Sciences Inc                                                             | CUSIP: 14817C107<br>LEI: 529900XA0UG5JXABYF08 | Long             | EC               | CORP              | US        |       11500 | NS      | $20815.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Novo Nordisk A/S                                          | Novo Nordisk A/S                                                                 | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |       78000 | NS      | $5383560.00   | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Duolingo Inc                                              | Duolingo Inc                                                                     | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        9400 | NS      | $3854188.00   | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| TuHURA Biosciences Inc                                    | TuHURA Biosciences Inc                                                           | CUSIP: 898920103<br>LEI: 549300N7OBMRNSOQC133 | Short            | EC               | CORP              | US        |       -3499 | NS      | $-7802.77     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ulta Beauty Inc                                           | Ulta Beauty Inc                                                                  | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Short            | EC               | CORP              | US        |      -12300 | NS      | $-5754186.00  | -0.15%            |  |  |  | No            | 1                  | On Loan: No      |
| Triumph Financial Inc                                     | Triumph Financial Inc                                                            | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Short            | EC               | CORP              | US        |      -11655 | NS      | $-642307.05   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT FEB 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-62400.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Drainage Systems Inc                             | Advanced Drainage Systems Inc                                                    | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Short            | EC               | CORP              | US        |        -900 | NS      | $-103374.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Saia Inc                                                  | Saia Inc                                                                         | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |        3900 | NS      | $1068561.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.6476% 02/19/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $666.90       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | Buy SAUDI SNRFOR USD 100 Jun 2035 GOLD_ISDA 1%                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | SA        |    11600000 | OU      | $67407.34     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                   | WaMu Mortgage Pass-Through Certificates Series 2007-HY6 Trust                    | CUSIP: 92927XAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      268371 | PA      | $221459.34    | 0.01%             | 2037-06-25      | Variable      | 4.04%                 | No            | 2                  | On Loan: No      |
| Cushman & Wakefield PLC                                   | Cushman & Wakefield PLC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | GB        |       -5600 | NS      | $-61992.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SISECAM UK PLC                                            | Sisecam UK PLC                                                                   | CUSIP: 000000000<br>LEI: 789000T82YRLMLUOC889 | Short            | DBT              | CORP              | GB        |    -5163000 | PA      | $-5217810.40  | -0.14%            | 2032-05-02      | Fixed         | 8.63%                 | Yes           | 2                  | On Loan: No      |
| Cedar Funding Ltd                                         | Cedar Funding VI CLO Ltd                                                         | CUSIP: 15032CAE3<br>LEI: 549300PQ60B57EBTK013 | Long             | ABS-CBDO         | CORP              | KY        |     1250000 | PA      | $1245205.00   | 0.03%             | 2034-04-20      | Floating      | 11.25%                | No            | 2                  | On Loan: No      |
| Lithium Americas Corp                                     | Lithium Americas Corp                                                            | CUSIP: 53681J103<br>LEI: 529900Q9ENG7EHHZ5R75 | Long             | EC               | CORP              | CA        |          15 | NS      | $40.20        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dollar Tree Inc                                           | Dollar Tree Inc                                                                  | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Short            | EC               | CORP              | US        |       -2800 | NS      | $-277312.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Appfolio Inc                                              | Appfolio Inc                                                                     | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Short            | EC               | CORP              | US        |        -400 | NS      | $-92112.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Pentair PLC                                               | Pentair PLC                                                                      | CUSIP: 000000000<br>LEI: 549300EVR9D56WPSRP15 | Short            | EC               | CORP              | IE        |         -61 | NS      | $-6262.26     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Blue Owl Capital Inc                                      | Blue Owl Capital Inc                                                             | CUSIP: 09581B103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -16600 | NS      | $-318886.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.8779% 01/17/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -2200000 | OU      | $5692.91      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Valero Energy Corp                                        | Valero Energy Corp                                                               | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Short            | EC               | CORP              | US        |       -5090 | NS      | $-684197.80   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Veracyte Inc                                              | Veracyte Inc                                                                     | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Short            | EC               | CORP              | US        |       -6000 | NS      | $-162180.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Illinois Tool Works Inc                                   | Illinois Tool Works Inc                                                          | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Short            | EC               | CORP              | US        |        -201 | NS      | $-49697.25    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nasdaq Stockholm AB                                       | OMXS30 IND FUTURE Jul25                                                          | CUSIP: 000000000<br>LEI: 549300KBQIVNEJEZVL96 | N/A              | DE               |  | SE        |         130 | NC      | $26678.73     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL FUT DEC 26 75C                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          84 | NC      | $230160.00    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| ATAI Life Sciences NV                                     | ATAI Life Sciences NV                                                            | CUSIP: 000000000<br>LEI: 391200Z8UWPJSNBNCA11 | Long             | EC               | CORP              | NL        |         100 | NS      | $219.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | AMER ELEC PWR STK                                                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -2044082 | OU      | $-26137.12    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Symphony CLO Ltd                                          | Symphony CLO 46 Ltd                                                              | CUSIP: 87171LAA1<br>LEI: 2549003KA6F4T4Q34J34 | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $2004860.00   | 0.05%             | 2038-01-20      | Floating      | 9.92%                 | No            | 2                  | On Loan: No      |
| Symplr Software Inc                                       | Symplr Software Inc 2020 Term Loan                                               | CUSIP: 87190HAC3<br>LEI: 254900NR8M8HYDVR0M34 | Long             | LON              | CORP              | US        |     5178560 | PA      | $4711039.52   | 0.13%             | 2027-12-22      | Floating      | 8.88%                 | No            | 2                  | On Loan: No      |
| AstraZeneca PLC                                           | AstraZeneca PLC                                                                  | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       13928 | NS      | $973288.64    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| VERITIV OPERATING CO                                      | Veritiv Operating Co                                                             | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |     1757000 | PA      | $1901943.73   | 0.05%             | 2030-11-30      | Fixed         | 10.50%                | No            | 2                  | On Loan: No      |
| Merrill Lynch First Franklin Mortgage Loan Trust          | Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-H1                  | CUSIP: 59025TAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      707971 | PA      | $511073.77    | 0.01%             | 2037-10-25      | Floating      | 7.93%                 | No            | 2                  | On Loan: No      |
| AGNC Investment Corp                                      | AGNC Investment Corp                                                             | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Short            | EC               |  | US        |     -279400 | NS      | $-2567686.00  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| ABB Ltd                                                   | ABB Ltd                                                                          | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Short            | EC               | CORP              | CH        |       -4181 | NS      | $-250562.45   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| BBAM US CLO LTD.                                          | BBAM US CLO II Ltd                                                               | CUSIP: 054984AG4<br>LEI: 549300720D6GC86J1I98 | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $2016500.00   | 0.05%             | 2038-10-15      | Floating      | 11.26%                | No            | 2                  | On Loan: No      |
| ICF International Inc                                     | ICF International Inc                                                            | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |        1000 | NS      | $84710.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Revvity Inc                                               | Revvity Inc                                                                      | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Short            | EC               | CORP              | US        |        -700 | NS      | $-67704.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| UWM Holdings Corp                                         | UWM Holdings Corp                                                                | CUSIP: 91823B109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $1656.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Copart Inc                                                | Copart Inc                                                                       | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Short            | EC               | CORP              | US        |      -46000 | NS      | $-2257220.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Innovative Industrial Properties Inc                      | Innovative Industrial Properties Inc                                             | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Short            | EC               |  | US        |       -2100 | NS      | $-115962.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Crescent Capital BDC Inc                                  | Crescent Capital BDC Inc                                                         | CUSIP: 225655109<br>LEI: 549300VPIZMU6OEE0V68 | Long             | EC               | CORP              | US        |        1600 | NS      | $22560.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intuitive Machines Inc                                    | Intuitive Machines Inc                                                           | CUSIP: 46125A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       14500 | NS      | $157615.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cigna Group/The                                           | Cigna Group/The                                                                  | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |        2494 | NS      | $824466.52    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| City Holding Co                                           | City Holding Co                                                                  | CUSIP: 177835105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -43937 | NS      | $-5378767.54  | -0.14%            |  |  |  | No            | 1                  | On Loan: No      |
| Gilat Satellite Networks Ltd                              | Gilat Satellite Networks Ltd                                                     | CUSIP: 000000000<br>LEI: 529900RVHDCYJ5YWHP12 | Long             | EC               | CORP              | IL        |        1200 | NS      | $8508.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.07029% 11/21/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      200000 | OU      | $6015.09      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEAN MEAL 12/01/25 280P                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |         315 | NC      | $217350.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE SPX VOLATILITY INDX JUL 25 32C                                              | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |        -700 | NC      | $-16100.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT FEB27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          24 | NC      | $49080.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Baker Hughes Co                                           | Baker Hughes Co                                                                  | CUSIP: 05722G100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -62700 | NS      | $-2403918.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| MICROSTRATEGY INC                                         | MicroStrategy Inc                                                                | CUSIP: 594972AP6<br>LEI: 549300WQTWEJUEHXQX21 | Long             | DBT              | CORP              | US        |      200000 | PA      | $466300.00    | 0.01%             | 2028-09-15      | Fixed         | 0.63%                 | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.78425% 04/10/2040 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $2450.06      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| South Plains Financial Inc                                | South Plains Financial Inc                                                       | CUSIP: 83946P107<br>LEI: 549300SNEBP48642N493 | Long             | EC               | CORP              | US        |         400 | NS      | $14416.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Taurus CMBS                                               | Taurus 2021-4 UK DAC                                                             | CUSIP: 000000000<br>LEI: 6354001CXJE7XMMVG324 | Long             | ABS-MBS          | CORP              | IE        |       69652 | PA      | $94020.17     | 0.00%             | 2031-08-17      | Floating      | 7.34%                 | Yes           | 2                  | On Loan: No      |
| Helen of Troy Ltd                                         | Helen of Troy Ltd                                                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | BM        |        -800 | NS      | $-22704.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 1.619% 03/24/2027 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     7000000 | OU      | $233455.03    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Citimortgage Alternative Loan Trust                       | CitiMortgage Alternative Loan Trust Series 2007-A6                               | CUSIP: 18976GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      264712 | PA      | $220448.08    | 0.01%             | 2037-06-25      | Floating      | 5.03%                 | No            | 2                  | On Loan: No      |
| HSBC Bank PLC                                             | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |           1 | NC      | $-51142.36    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Granite Point Mortgage Trust Inc                          | Granite Point Mortgage Trust Inc                                                 | CUSIP: 38741L107<br>LEI: 529900VX2HQZ76AYIE02 | Short            | EC               |  | US        |        -300 | NS      | $-741.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Orthofix Medical Inc                                      | Orthofix Medical Inc                                                             | CUSIP: 68752M108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -694 | NS      | $-7738.10     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Seres Therapeutics Inc                                    | Seres Therapeutics Inc                                                           | CUSIP: 81750R201<br>LEI: 549300GMXBE5NUWISF13 | Short            | EC               | CORP              | US        |       -1145 | NS      | $-12720.95    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.719% 08/08/2028 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     3000000 | OU      | $73478.55     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| International Seaways Inc                                 | International Seaways Inc                                                        | CUSIP: 000000000<br>LEI: 549300YUFDGFRNGBWF46 | Short            | EC               | CORP              | MH        |       -2000 | NS      | $-72960.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| The Montreal Exchange/Bourse De Montreal                  | CAN 10YR BOND FUT Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | CA        |         394 | NC      | $88109.02     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| E-Home Household Service Holdings Ltd                     | E-Home Household Service Holdings Ltd                                            | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -800 | NS      | $-2040.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.163092% 03/05/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      300000 | OU      | $30005.99     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS JPY 1.833751% 02/03/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | JP        |   -14700000 | OU      | $-7741.32     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Foot Locker Inc                                           | Foot Locker Inc                                                                  | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Short            | EC               | CORP              | US        |      -24400 | NS      | $-597800.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Coterra Energy Inc                                        | Coterra Energy Inc                                                               | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Short            | EC               | CORP              | US        |      -77200 | NS      | $-1959336.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Bloom Energy Corp                                         | Bloom Energy Corp                                                                | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |       55638 | NS      | $1330860.96   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| ANSYS Inc                                                 | ANSYS Inc                                                                        | CUSIP: 03662Q105<br>LEI: 549300VJV8H15Z5FJ571 | Short            | EC               | CORP              | US        |       -3300 | NS      | $-1159026.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Embecta Corp                                              | Embecta Corp                                                                     | CUSIP: 29082K105<br>LEI: 549300RPG8GXVDHNXZ62 | Short            | EC               | CORP              | US        |       -5900 | NS      | $-57171.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SELLAS Life Sciences Group Inc                            | SELLAS Life Sciences Group Inc                                                   | CUSIP: 81642T209<br>LEI: 549300VZIH50VYURLQ98 | Long             | EC               | CORP              | US        |          33 | NS      | $72.27        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eyenovia Inc                                              | Eyenovia Inc                                                                     | CUSIP: 30234E203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          49 | NS      | $508.62       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Corp. Nacional del Cobre de Chile                         | Corp. Nacional del Cobre de Chile                                                | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Short            | DBT              | CORP              | CL        |    -5508000 | PA      | $-5761559.17  | -0.15%            | 2036-01-26      | Fixed         | 6.44%                 | Yes           | 2                  | On Loan: No      |
| Government National Mortgage Association                  | Government National Mortgage Association                                         | CUSIP: 38383R2F3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    17468541 | PA      | $3471924.86   | 0.09%             | 2051-05-20      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| SiTime Corp                                               | SiTime Corp                                                                      | CUSIP: 82982T106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-85232.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Trust 2017-GS8                                            | CUSIP: 36254KAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1593000 | PA      | $1166023.43   | 0.03%             | 2050-11-10      | Fixed         | 2.70%                 | No            | 2                  | On Loan: No      |
| Lineage Inc                                               | Lineage Inc                                                                      | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               |  | US        |       35915 | NS      | $1563020.80   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (744) JAN 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |        -110 | NC      | $344944.61    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.22393% 02/26/2055 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      100000 | OU      | $5385.35      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Karat Packaging Inc                                       | Karat Packaging Inc                                                              | CUSIP: 48563L101<br>LEI: 549300JYUKCQP3P8D632 | Long             | EC               | CORP              | US        |         100 | NS      | $2816.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Harley-Davidson Inc                                       | Harley-Davidson Inc                                                              | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Short            | EC               | CORP              | US        |       -1700 | NS      | $-40120.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Brookfield Corp                                           | Brookfield Corp                                                                  | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Short            | EC               | CORP              | CA        |      -55567 | NS      | $-3436818.95  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Phillips Edison & Co Inc                                  | Phillips Edison & Co Inc                                                         | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Short            | EC               |  | US        |       -1200 | NS      | $-42036.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Integra LifeSciences Holdings Corp                        | Integra LifeSciences Holdings Corp                                               | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Long             | EC               | CORP              | US        |        6300 | NS      | $77301.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FMCP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    11459422 | PA      | $1176000.31   | 0.03%             | 2031-01-25      | Variable      | 4.17%                 | No            | 2                  | On Loan: No      |
| Edwards Lifesciences Corp                                 | Edwards Lifesciences Corp                                                        | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Short            | EC               | CORP              | US        |        -700 | NS      | $-54747.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.465% 07/06/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-3876.21     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Logitech International SA                                 | Logitech International SA                                                        | CUSIP: 000000000<br>LEI: 549300SN6PRK6IJJC215 | Short            | EC               | CORP              | CH        |        -200 | NS      | $-18026.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Peabody Energy Corp                                       | Peabody Energy Corp                                                              | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Short            | EC               | CORP              | US        |       -3400 | NS      | $-45628.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Twist Bioscience Corp                                     | Twist Bioscience Corp                                                            | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |         400 | NS      | $14716.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR S&P Regional Banking ETF                             | SPDR S&P Regional Banking ETF                                                    | CUSIP: 78464A698<br>LEI: 549300EFWJBKUN6WJX52 | Short            | EC               | RF                | US        |       -1304 | NS      | $-77444.56    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      964306 | PA      | $964306.42    | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| CRISPR Therapeutics AG                                    | CRISPR Therapeutics AG                                                           | CUSIP: 000000000<br>LEI: 506700O6IRRIQLT3W370 | Long             | EC               | CORP              | CH        |       19000 | NS      | $924160.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Athira Pharma Inc                                         | Athira Pharma Inc                                                                | CUSIP: 04746L104<br>LEI: 529900CSS4S4X8VY5C81 | Long             | EC               | CORP              | US        |        3600 | NS      | $1087.22      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Galaxy Digital Inc                                        | Galaxy Digital Inc                                                               | CUSIP: 36317J209<br>LEI: 9845001C4070E5N07806 | Long             | EC               | CORP              | US        |      265921 | NS      | $5823669.90   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Insteel Industries Inc                                    | Insteel Industries Inc                                                           | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |         400 | NS      | $14884.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AZEK Co Inc/The                                           | AZEK Co Inc/The                                                                  | CUSIP: 05478C105<br>LEI: 5493002LDDDU1RX46815 | Short            | EC               | CORP              | US        |       -3600 | NS      | $-195660.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Alpha & Omega Semiconductor Ltd                           | Alpha & Omega Semiconductor Ltd                                                  | CUSIP: 000000000<br>LEI: 5493001FE7J03YOV2V35 | Long             | EC               | CORP              | BM        |         600 | NS      | $15396.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| W R Berkley Corp                                          | W R Berkley Corp                                                                 | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |      130500 | NS      | $9587835.00   | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| RealReal Inc/The                                          | RealReal Inc/The                                                                 | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |       27100 | NS      | $129809.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Enanta Pharmaceuticals Inc                                | Enanta Pharmaceuticals Inc                                                       | CUSIP: 29251M106<br>LEI: 529900SSN4DODDQSN594 | Long             | EC               | CORP              | US        |        3700 | NS      | $27972.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.8645% 04/15/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      500000 | OU      | $-5457.44     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Disc Medicine Inc                                         | Disc Medicine Inc                                                                | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $10592.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Board of Trade                                   | SUGAR (112000) MAR 26                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        -951 | NC      | $447701.30    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Commodities Exchange Center                               | GOLD FUTURE AUG 25 3350C                                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          63 | NC      | $233100.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| NerdWallet Inc                                            | NerdWallet Inc                                                                   | CUSIP: 64082B102<br>LEI: 254900FJ2Y4SH71DJ379 | Short            | EC               | CORP              | US        |        -400 | NS      | $-4388.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BTC Digital Ltd                                           | BTC Digital Ltd                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |         -36 | NS      | $-112.32      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Towd Point Mortgage Trust                                 | Towd Point Mortgage Trust 2021-1                                                 | CUSIP: 89179YAH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      494000 | PA      | $362583.16    | 0.01%             | 2061-11-25      | Variable      | 4.31%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS AUG 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -33 | NC      | $64240.44     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Antimony Corp                               | United States Antimony Corp                                                      | CUSIP: 911549103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-872.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Denny's Corp                                              | Denny's Corp                                                                     | CUSIP: 24869P104<br>LEI: 54930037V56XOULXM917 | Long             | EC               | CORP              | US        |         500 | NS      | $2050.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT  SEP25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -58 | NC      | $77650.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TransCode Therapeutics Inc                                | TransCode Therapeutics Inc                                                       | CUSIP: 89357L501<br>LEI: N/A                  | Long             | EC               | CORP              | US        |           1 | NS      | $7.80         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Hyatt Hotels Corp                                         | Hyatt Hotels Corp                                                                | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Short            | EC               | CORP              | US        |        -400 | NS      | $-55860.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Lyell Immunopharma Inc                                    | Lyell Immunopharma Inc                                                           | CUSIP: 55083R203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         145 | NS      | $1281.80      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Universal Display Corp                                    | Universal Display Corp                                                           | CUSIP: 91347P105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-15446.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Invesco Mortgage Capital Inc                              | Invesco Mortgage Capital Inc                                                     | CUSIP: 46131B704<br>LEI: PV3BDP2HFZL2FNXQBL39 | Long             | EC               |  | US        |        9900 | NS      | $77616.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Buy CCB SNRFOR USD 100 Dec 2027 BARC_ISDA 1%                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | LU        |     6700000 | OU      | $-112293.78   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Upstart Securitization Trust                              | Upstart Securitization Trust 2021-5                                              | CUSIP: 91679JAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      705615 | PA      | $691610.17    | 0.02%             | 2031-11-20      | Fixed         | 4.15%                 | No            | 2                  | On Loan: No      |
| Aquestive Therapeutics Inc                                | Aquestive Therapeutics Inc                                                       | CUSIP: 03843E104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        9900 | NS      | $32769.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Horace Mann Educators Corp                                | Horace Mann Educators Corp                                                       | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |         100 | NS      | $4297.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     3793941 | PA      | $3793940.68   | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| DuPont de Nemours Inc                                     | DuPont de Nemours Inc                                                            | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |       19283 | NS      | $1322620.97   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.403% 11/18/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-7339.81     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                     | Wells Fargo Commercial Mortgage Trust 2015-C27                                   | CUSIP: 94989DAG4<br>LEI: 5493001SKB2HKIF64L70 | Long             | ABS-MBS          | CORP              | US        |     2991000 | PA      | $1570559.15   | 0.04%             | 2048-02-15      | Fixed         | 3.77%                 | No            | 2                  | On Loan: No      |
| Climb Bio Inc                                             | Climb Bio Inc                                                                    | CUSIP: 28658R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1900 | NS      | $2356.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TrueBlue Inc                                              | TrueBlue Inc                                                                     | CUSIP: 89785X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         700 | NS      | $4536.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC                            | Sunnova Helios XIII Issuer LLC                                                   | CUSIP: 86745CAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      689415 | PA      | $596335.06    | 0.02%             | 2051-02-20      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                                  | Team Health Holdings Inc                                                         | CUSIP: 87817AAB3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |     1578928 | PA      | $1713136.89   | 0.05%             | 2028-06-30      | Fixed         | 13.50%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.7223% 03/12/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $1256.97      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.831% 04/14/2026 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |   -14800000 | OU      | $-335.86      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Tela Bio Inc                                              | Tela Bio Inc                                                                     | CUSIP: 872381108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2100 | NS      | $-4074.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Powerfleet Inc NJ                                         | Powerfleet Inc NJ                                                                | CUSIP: 73931J109<br>LEI: 2549007NKEFPYEH4MF81 | Short            | EC               | CORP              | US        |      -12200 | NS      | $-52582.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.9675% 09/24/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $3157.30      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Compass Diversified Holdings                              | Compass Diversified Holdings                                                     | CUSIP: 20451Q104<br>LEI: 5299001SM1LBYANJRR58 | Long             | EC               | CORP              | US        |         400 | NS      | $2512.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eaton Vance CDO Ltd                                       | Eaton Vance CLO 2013-1 Ltd                                                       | CUSIP: 27830BBU7<br>LEI: 5493001O5CL3BBUIEH94 | Long             | ABS-CBDO         | CORP              | KY        |     2500000 | PA      | $2498057.50   | 0.07%             | 2034-01-15      | Floating      | 7.92%                 | No            | 2                  | On Loan: No      |
| PPG Industries Inc                                        | PPG Industries Inc                                                               | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Short            | EC               | CORP              | US        |        -277 | NS      | $-31508.75    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.889% 03/07/2040 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -200000 | OU      | $-71.71       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Weibo Corp                                                | Weibo Corp                                                                       | CUSIP: 948596101<br>LEI: 549300Q9ID4640FE0422 | Long             | EC               | CORP              | KY        |        9500 | NS      | $90535.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Connexa Sports Technologies In                            | Connexa Sports Technologies In                                                   | CUSIP: 831445408<br>LEI: N/A                  | Short            | EC               | CORP              | US        |          -1 | NS      | $-0.89        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sutro Biopharma Inc                                       | Sutro Biopharma Inc                                                              | CUSIP: 869367102<br>LEI: 5493005U6P15VD25P851 | Long             | EC               | CORP              | US        |        5800 | NS      | $4140.63      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | TTF NATURAL GAS BASE LOAD (FUTURES STYL DEC 25 50C                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          60 | NC      | $79191.03     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rackspace Technology Inc                                  | Rackspace Technology Inc                                                         | CUSIP: 750102105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2100 | NS      | $2688.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sociedad Quimica y Minera de Chile SA                     | Sociedad Quimica y Minera de Chile SA                                            | CUSIP: 833635105<br>LEI: TJ88LXZZW5PWIN93ZC81 | Short            | EC               | CORP              | CL        |       -1800 | NS      | $-63486.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.468% 05/22/2028 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    -7650000 | OU      | $44346.33     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT FEB27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $-18150.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Kopin Corp                                                | Kopin Corp                                                                       | CUSIP: 500600101<br>LEI: 52990031GUBB61RXCD89 | Short            | EC               | CORP              | US        |       -2100 | NS      | $-3213.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Centerra Gold Inc                                         | Centerra Gold Inc                                                                | CUSIP: 152006102<br>LEI: 549300K0HXTMP5JJ0E62 | Long             | EC               | CORP              | CA        |        9800 | NS      | $70658.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Adial Pharmaceuticals Inc                                 | Adial Pharmaceuticals Inc                                                        | CUSIP: 00688A205<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -32 | NS      | $-9.67        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bullfrog AI Holdings Inc                                  | Bullfrog AI Holdings Inc                                                         | CUSIP: 12021E109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2400 | NS      | $-3624.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AZUL SECURED FINANCE LLP                                  | Azul Secured Finance LLP New Money DIP Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     5096961 | PA      | $949221.79    | 0.03%             | 2026-02-27      | Floating      | 16.00%                | No            | N/A                | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1655580 | PA      | $1655580.17   | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Match Group Inc                                           | Match Group Inc                                                                  | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Short            | EC               | CORP              | US        |      -17300 | NS      | $-534397.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Kiniksa Pharmaceuticals International Plc                 | Kiniksa Pharmaceuticals International Plc                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |         600 | NS      | $16602.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Colony Bankcorp Inc                                       | Colony Bankcorp Inc                                                              | CUSIP: 19623P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         900 | NS      | $14823.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Weber-Stephen Products LLC                                | Weber-Stephen Products LLC Term Loan B                                           | CUSIP: 94767KAN1<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |     3094174 | PA      | $3068863.19   | 0.08%             | 2027-10-30      | Floating      | 7.69%                 | No            | 2                  | On Loan: No      |
| Linde PLC                                                 | Linde PLC                                                                        | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |       26000 | NS      | $12198680.00  | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Valley National Bancorp                                   | Valley National Bancorp                                                          | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Short            | EC               | CORP              | US        |      -63878 | NS      | $-570430.54   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.001115% 03/14/2030 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -500000 | OU      | $9333.37      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | VITA COCO CO INC/THE CFD                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |     -636571 | OU      | $-11712.42    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS EUR 09/01/25 4.25C                                                   | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -21 | NC      | $-21777.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | E-Mini Russ 2000  Sep25                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               |  | US        |          48 | NC      | $176680.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.86255% 10/29/2029 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -500000 | OU      | $2744.30      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | SELL CMBX.NA.A.8                                                                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              |  | US        |      432000 | OU      | $-14638.25    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT NOK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | NO        |           1 | NC      | $6533.67      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Steel Dynamics Inc                                        | Steel Dynamics Inc                                                               | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Short            | EC               | CORP              | US        |       -6300 | NS      | $-806463.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Cardiff Oncology Inc                                      | Cardiff Oncology Inc                                                             | CUSIP: 14147L108<br>LEI: 549300AHOLZBHHYFWP04 | Long             | EC               | CORP              | US        |        4000 | NS      | $12600.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.9307% 01/17/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $5479.70      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| AKUMIN INC                                                | Akumin Inc                                                                       | CUSIP: 01021XAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1639485 | PA      | $1545214.62   | 0.04%             | 2027-08-01      | Fixed         | 9.00%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.8926% 11/01/2029 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $4856.62      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 1.613% 03/23/2027 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     7000000 | OU      | $234857.19    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Bank5                                                     | BANK5 2024-5YR11                                                                 | CUSIP: 06644WAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $88440.00     | 0.00%             | 2057-11-15      | Variable      | 2.53%                 | No            | 2                  | On Loan: No      |
| First Internet Bancorp                                    | First Internet Bancorp                                                           | CUSIP: 320557101<br>LEI: 549300T25MP2M92XU194 | Long             | EC               | CORP              | US        |         200 | NS      | $5380.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| nCino Inc                                                 | nCino Inc                                                                        | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Short            | EC               | CORP              | US        |       -2600 | NS      | $-72722.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Blue Hat Interactive Entertainment Technology             | Blue Hat Interactive Entertainment Technology                                    | CUSIP: 000000000<br>LEI: 549300PUYYMT986Z6J05 | Short            | EC               | CORP              | KY        |         -42 | NS      | $-73.08       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Osaka Exchange                                            | JPN 10Y BOND(OSE) Sep25                                                          | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              |  | JP        |         -24 | NC      | $-30901.69    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                         | Citigroup Mortgage Loan Trust Inc                                                | CUSIP: 17307GHS0<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |      658346 | PA      | $260819.70    | 0.01%             | 2034-08-25      | Variable      | 7.30%                 | No            | 2                  | On Loan: No      |
| Residential Accredit Loans, Inc.                          | RALI Series 2006-QO7 Trust                                                       | CUSIP: 751150AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      303043 | PA      | $236608.34    | 0.01%             | 2046-09-25      | Floating      | 5.20%                 | No            | 2                  | On Loan: No      |
| Signet Jewelers Ltd                                       | Signet Jewelers Ltd                                                              | CUSIP: 000000000<br>LEI: 549300N3XPGE91WV7M22 | Short            | EC               | CORP              | BM        |      -13900 | NS      | $-1105745.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                          | IndyMac INDX Mortgage Loan Trust 2006-AR7                                        | CUSIP: 45661EDA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      210504 | PA      | $181097.34    | 0.00%             | 2036-05-25      | Variable      | 3.96%                 | No            | 2                  | On Loan: No      |
| Gartner Inc                                               | Gartner Inc                                                                      | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |        5500 | NS      | $2223210.00   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Array Technologies Inc                                    | Array Technologies Inc                                                           | CUSIP: 04271T100<br>LEI: 549300JM5FECYJQ85V37 | Short            | EC               | CORP              | US        |       -6700 | NS      | $-39530.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.8633% 10/16/2029 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $4408.99      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Bancorp Inc/The                                           | Bancorp Inc/The                                                                  | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Long             | EC               | CORP              | US        |        1900 | NS      | $108243.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SiNtx Technologies Inc                                    | SiNtx Technologies Inc                                                           | CUSIP: 829392703<br>LEI: 549300DWWSMS2K42ZP12 | Long             | EC               | CORP              | US        |          43 | NS      | $137.17       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Marsh & McLennan Cos Inc                                  | Marsh & McLennan Cos Inc                                                         | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |         299 | NS      | $65373.36     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Everbright Digital Holding Ltd.                           | EVERBRIGHT DIGITAL HOLDING LTD                                                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -1100 | NS      | $-6589.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| LivaNova PLC                                              | LivaNova PLC                                                                     | CUSIP: 000000000<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |        2100 | NS      | $94542.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Virtu Financial Inc                                       | Virtu Financial Inc                                                              | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Short            | EC               | CORP              | US        |       -6754 | NS      | $-302511.66   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Immatics NV                                               | Immatics NV                                                                      | CUSIP: 000000000<br>LEI: 984500DC691EZ96AF394 | Short            | EC               | CORP              | NL        |       -1800 | NS      | $-9684.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.56675% 04/11/2035 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $508.70       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Varonis Systems Inc                                       | Varonis Systems Inc                                                              | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |       25000 | NS      | $1268750.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137H2F25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    19294585 | PA      | $3788742.63   | 0.10%             | 2050-08-25      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Variance Swap - SPX (19.7% - 2025-09-19)                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        1072 | OU      | $-25887.44    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| PotlatchDeltic Corp                                       | PotlatchDeltic Corp                                                              | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Short            | EC               |  | US        |        -221 | NS      | $-8479.77     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association                  | Government National Mortgage Association                                         | CUSIP: 38383R3M7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    14811369 | PA      | $2903606.03   | 0.08%             | 2050-07-20      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| ATREIDES CO INVEST SPACEX                                 | ATREIDES CO INVEST SPACEX                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |           1 | NS      | $5217138.14   | 0.14%             |  |  |  | No            | N/A                | On Loan: No      |
| FS Rialto Issuer Ltd                                      | FS Rialto 2022-Fl4 Issuer LLC                                                    | CUSIP: 30326MAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1000000 | PA      | $999991.00    | 0.03%             | 2039-01-19      | Floating      | 7.55%                 | No            | 2                  | On Loan: No      |
| Petroleos del Peru SA                                     | Petroleos del Peru SA                                                            | CUSIP: 000000000<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |     6987000 | PA      | $4403163.38   | 0.12%             | 2047-06-19      | Fixed         | 5.63%                 | Yes           | 2                  | On Loan: No      |
| APA Corp                                                  | APA Corp                                                                         | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Short            | EC               | CORP              | US        |       -8155 | NS      | $-149154.95   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Critical Metals Corp                                      | Critical Metals Corp                                                             | CUSIP: 000000000<br>LEI: 984500158752F66VAE27 | Short            | EC               | CORP              | VG        |        -787 | NS      | $-2817.46     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| FactSet Research Systems Inc                              | FactSet Research Systems Inc                                                     | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Short            | EC               | CORP              | US        |         -97 | NS      | $-43386.16    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME ALUMINUM (LISTED) JUL 25                                                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          85 | NC      | $111837.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nasdaq Inc                                                | Nasdaq Inc                                                                       | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Short            | EC               | CORP              | US        |       -6362 | NS      | $-568890.04   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| BrainStorm Cell Therapeutics Inc                          | BrainStorm Cell Therapeutics Inc                                                 | CUSIP: 10501E300<br>LEI: 529900ULKWCLO3ZHXL41 | Short            | EC               | CORP              | US        |         -33 | NS      | $-36.96       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Vera Bradley Inc                                          | Vera Bradley Inc                                                                 | CUSIP: 92335C106<br>LEI: 52990005Q6LEJKXO7M51 | Short            | EC               | CORP              | US        |        -300 | NS      | $-663.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  727                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $-512.88      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Osaka Exchange                                            | JPN 10Y BOND(OSE) Sep25                                                          | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              |  | JP        |          -5 | NC      | $-13193.99    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nkarta Inc                                                | Nkarta Inc                                                                       | CUSIP: 65487U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2400 | NS      | $3984.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    18300000 | OU      | $449209.08    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | WTI CRUDE FUTURE  Feb26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         569 | NC      | $-69220.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) DEC 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          30 | NC      | $-115350.25   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Box Inc                                                   | Box Inc                                                                          | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |       21400 | NS      | $731238.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| LTC Properties Inc                                        | LTC Properties Inc                                                               | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               |  | US        |         400 | NS      | $13844.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Alta Equipment Group Inc                                  | Alta Equipment Group Inc                                                         | CUSIP: 02128L106<br>LEI: 549300DGOB28CLGS1X27 | Short            | EC               | CORP              | US        |        -300 | NS      | $-1896.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Commodities Exchange Center                               | GOLD 100 OZ FUTR  Aug25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          -8 | NC      | $3452.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.597% 04/03/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-12514.13    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| WisdomTree Inc                                            | WisdomTree Inc                                                                   | CUSIP: 97717P104<br>LEI: 549300WIU8IS7UFO7871 | Long             | EC               | CORP              | US        |       13600 | NS      | $156536.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Coca-Cola Co/The                                          | Coca-Cola Co/The                                                                 | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |         189 | NS      | $13371.75     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Brown-Forman Corp                                         | Brown-Forman Corp                                                                | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Short            | EC               | CORP              | US        |      -26700 | NS      | $-718497.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| ServiceTitan Inc                                          | ServiceTitan Inc                                                                 | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       35915 | NS      | $3849369.70   | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Noble Corp PLC                                            | Noble Corp PLC                                                                   | CUSIP: 000000000<br>LEI: 549300I3HBUNXO0OG954 | Short            | EC               | CORP              | GB        |      -10048 | NS      | $-266774.40   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Fortinet Inc                                              | Fortinet Inc                                                                     | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |       27800 | NS      | $2939016.00   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Lyft Inc                                                  | Lyft Inc                                                                         | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |       76077 | NS      | $1198973.52   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT JUN 26                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |       -1121 | NC      | $-717874.95   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley BAML Trust                                 | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C31                      | CUSIP: 61766RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1441000 | PA      | $1094649.89   | 0.03%             | 2049-11-15      | Variable      | 3.00%                 | No            | 2                  | On Loan: No      |
| Keurig Dr Pepper Inc                                      | Keurig Dr Pepper Inc                                                             | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Short            | EC               | CORP              | US        |       -9200 | NS      | $-304152.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LightPath Technologies Inc                                | LightPath Technologies Inc                                                       | CUSIP: 532257805<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1900 | NS      | $-5852.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| GoDaddy Inc                                               | GoDaddy Inc                                                                      | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |        8300 | NS      | $1494498.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Kamada Ltd                                                | Kamada Ltd                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |         500 | NS      | $3875.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sana Biotechnology Inc                                    | Sana Biotechnology Inc                                                           | CUSIP: 799566104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $819.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MicroStrategy Inc                                         | MicroStrategy Inc                                                                | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Short            | EC               | CORP              | US        |      -11485 | NS      | $-4642581.55  | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| American Airlines Group Inc                               | American Airlines Group Inc                                                      | CUSIP: 02376R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       29000 | NS      | $325380.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Deephaven Residential Mortgage Trust                      | Deephaven Residential Mortgage Trust 2021-4                                      | CUSIP: 24381JAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $75497.70     | 0.00%             | 2066-11-25      | Variable      | 4.44%                 | No            | 2                  | On Loan: No      |
| Hinge Health Inc                                          | Hinge Health Inc                                                                 | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       56077 | NS      | $2901984.75   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| MRT MID PART/MRT MID FIN                                  | Martin Midstream Partners LP / Martin Midstream Finance Corp                     | CUSIP: 573334AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     8352000 | PA      | $8778436.41   | 0.23%             | 2028-02-15      | Fixed         | 11.50%                | No            | 2                  | On Loan: No      |
| GE HealthCare Technologies Inc                            | GE HealthCare Technologies Inc                                                   | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Short            | EC               | CORP              | US        |      -54000 | NS      | $-3999780.00  | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| Alto Neuroscience Inc                                     | Alto Neuroscience Inc                                                            | CUSIP: 02157Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $880.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fractyl Health Inc                                        | Fractyl Health Inc                                                               | CUSIP: 35168W103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-324.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ReNew Energy Global PLC                                   | ReNew Energy Global PLC                                                          | CUSIP: 000000000<br>LEI: 254900SL77LA2KAG7R65 | Short            | EC               | CORP              | GB        |       -3300 | NS      | $-22803.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Real Brokerage Inc/The                                    | Real Brokerage Inc/The                                                           | CUSIP: 75585H206<br>LEI: 254900X7DGVQ8SUIC387 | Short            | EC               | CORP              | CA        |       -1100 | NS      | $-4961.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Airship AI Holdings Inc                                   | Airship AI Holdings Inc                                                          | CUSIP: 008940108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1160 | NS      | $-6832.40     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.9415% 04/04/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      300000 | OU      | $-6778.65     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      316571 | PA      | $316571.39    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Alerus Financial Corp                                     | Alerus Financial Corp                                                            | CUSIP: 01446U103<br>LEI: 5493008BXLBPPELQ3G57 | Long             | EC               | CORP              | US        |         400 | NS      | $8656.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Multifamily Structured Credit Risk                        | Freddie Mac Multifamily Structured Credit Risk                                   | CUSIP: 35563FAB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      102000 | PA      | $105158.33    | 0.00%             | 2051-01-25      | Floating      | 8.06%                 | No            | 2                  | On Loan: No      |
| Whirlpool Corp                                            | Whirlpool Corp                                                                   | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Short            | EC               | CORP              | US        |       -4000 | NS      | $-405680.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Thornburg Mortgage Securities Trust                       | Thornburg Mortgage Securities Trust 2005-3                                       | CUSIP: 885220JJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      583521 | PA      | $455990.40    | 0.01%             | 2045-10-25      | Variable      | 6.21%                 | No            | 2                  | On Loan: No      |
| MongoDB Inc                                               | MongoDB Inc                                                                      | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |        2800 | NS      | $587972.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Tidewater Inc                                             | Tidewater Inc                                                                    | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Short            | EC               | CORP              | US        |        -200 | NS      | $-9226.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.877% 05/01/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-17305.62    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.5435% 04/08/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1300000 | OU      | $2144.97      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Bandwidth Inc                                             | Bandwidth Inc                                                                    | CUSIP: 05988J103<br>LEI: 549300QC70JB7MUGXM66 | Long             | EC               | CORP              | US        |        2300 | NS      | $36570.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Wallbox NV                                                | Wallbox NV                                                                       | CUSIP: 000000000<br>LEI: 894500JI9CLUTQ0H9V68 | Short            | EC               | CORP              | NL        |       -3300 | NS      | $-1048.43     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | Variance Swap - SPX (19.55% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |       -3265 | OU      | $-708474.06   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| KT Corp                                                   | KT Corp                                                                          | CUSIP: 48268K101<br>LEI: 9884005ACF8449EANY26 | Long             | EC               | CORP              | KR        |        1900 | NS      | $39482.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ingles Markets Inc                                        | Ingles Markets Inc                                                               | CUSIP: 457030104<br>LEI: 549300XH5RYBMYP8TF26 | Long             | EC               | CORP              | US        |         500 | NS      | $31690.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Woodward Capital Management                               | RCKT Mortgage Trust 2023-CES1                                                    | CUSIP: 74935WAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      251000 | PA      | $256916.07    | 0.01%             | 2043-06-25      | Variable      | 7.98%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.NA.HY.44 USD 500 Jun 2030 Morgan 5%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    10100000 | OU      | $-772455.86   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Trust 2016-GS2                                            | CUSIP: 36252TAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1415000 | PA      | $1294562.28   | 0.03%             | 2049-05-10      | Fixed         | 2.75%                 | No            | 2                  | On Loan: No      |
| Emerson Electric Co                                       | Emerson Electric Co                                                              | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Short            | EC               | CORP              | US        |       -2943 | NS      | $-392390.19   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Brenmiller Energy Ltd                                     | Brenmiller Energy Ltd                                                            | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |          -2 | NS      | $-4.96        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| GXO Logistics Inc                                         | GXO Logistics Inc                                                                | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Short            | EC               | CORP              | US        |       -1800 | NS      | $-87660.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Southern Copper Corp                                      | Southern Copper Corp                                                             | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Short            | EC               | CORP              | US        |         -33 | NS      | $-3338.61     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TEGNA Inc                                                 | TEGNA Inc                                                                        | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Short            | EC               | CORP              | US        |       -6100 | NS      | $-102236.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL FUT DEC 25 110C                                                        | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         100 | NC      | $19000.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| IMAX Corp                                                 | IMAX Corp                                                                        | CUSIP: 45245E109<br>LEI: 5493002KS2T1Q0X7VZ21 | Long             | EC               | CORP              | CA        |        4200 | NS      | $117432.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.6813% 03/06/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -500000 | OU      | $4568.86      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Adtalem Global Education Inc                              | Adtalem Global Education Inc                                                     | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |         300 | NS      | $38169.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER (LISTED) 12/17/2025 DEC 25                                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          53 | NC      | $718618.75    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Bar Harbor Bankshares                                     | Bar Harbor Bankshares                                                            | CUSIP: 066849100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $5992.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Expeditors International of Washington Inc                | Expeditors International of Washington Inc                                       | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Short            | EC               | CORP              | US        |        -500 | NS      | $-57125.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Afya Ltd                                                  | Afya Ltd                                                                         | CUSIP: 000000000<br>LEI: 54930008Y7J8Z1BSDT57 | Long             | EC               | CORP              | KY        |        1800 | NS      | $32148.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlanta Braves Holdings Inc                               | Atlanta Braves Holdings Inc                                                      | CUSIP: 047726302<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1300 | NS      | $-60801.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Knorr-Bremse AG                                           | Knorr-Bremse AG                                                                  | CUSIP: 000000000<br>LEI: 5299001GRRO0Z25YZT52 | Short            | EC               | CORP              | DE        |        -224 | NS      | $-21727.18    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                                | Fannie Mae REMICS                                                                | CUSIP: 3136BBTX0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     9996576 | PA      | $2116834.94   | 0.06%             | 2050-09-25      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Nukkleus Inc                                              | Nukkleus Inc                                                                     | CUSIP: 67054R203<br>LEI: 549300EOLUCX2ZYTFU74 | Short            | EC               | CORP              | US        |        -700 | NS      | $-7651.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Octane Receivables Trust                                  | Octane Receivables Trust 2024-3                                                  | CUSIP: 67571GAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      475000 | PA      | $478426.65    | 0.01%             | 2032-11-22      | Fixed         | 7.66%                 | No            | 2                  | On Loan: No      |
| Boston Omaha Corp                                         | Boston Omaha Corp                                                                | CUSIP: 101044105<br>LEI: 54930002FEWTYF4YFF19 | Long             | EC               | CORP              | US        |         100 | NS      | $1404.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT SEP 26                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |        -626 | NC      | $-433071.55   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Permian Resources Corp                                    | Permian Resources Corp                                                           | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Short            | EC               | CORP              | US        |       -3954 | NS      | $-53853.48    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER JUL 25 9500C                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         -20 | NC      | $-144500.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| OSCAR ACQUISITIONCO LLC                                   | Oscar AcquisitionCo LLC / Oscar Finance Inc                                      | CUSIP: 687785AB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      808000 | PA      | $657923.70    | 0.02%             | 2030-04-15      | Fixed         | 9.50%                 | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1039299 | PA      | $1039298.94   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     2940668 | PA      | $2940667.87   | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA12                                                 | CUSIP: 23243AAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      306896 | PA      | $253023.96    | 0.01%             | 2046-09-20      | Floating      | 4.71%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 09/01/25 80C                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          -1 | NC      | $2900.00      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| ChaseFlex Trust                                           | ChaseFlex Trust Series 2007-1                                                    | CUSIP: 16165VAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1002703 | PA      | $348483.33    | 0.01%             | 2037-02-25      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Trust 2014-GC24                                           | CUSIP: 36253GAK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $93639.00     | 0.00%             | 2047-09-10      | Variable      | 4.52%                 | No            | 2                  | On Loan: No      |
| NACCO Industries Inc                                      | NACCO Industries Inc                                                             | CUSIP: 629579103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $4431.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gulfport Energy Corp                                      | Gulfport Energy Corp                                                             | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |         500 | NS      | $100585.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SOUSD_SOFR_R_3.21_20590831_20290831_LCH                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $139864.74    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Rockwell Automation Inc                                   | Rockwell Automation Inc                                                          | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Short            | EC               | CORP              | US        |        -678 | NS      | $-225211.26   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.53% 03/07/2035 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |      200000 | OU      | $-878.84      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Corteva Inc                                               | Corteva Inc                                                                      | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Short            | EC               | CORP              | US        |       -6480 | NS      | $-482954.40   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Ondas Holdings Inc                                        | Ondas Holdings Inc                                                               | CUSIP: 68236H204<br>LEI: 549300JWLHDUB82V8607 | Short            | EC               | CORP              | US        |      -10900 | NS      | $-20928.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | CSAIL 2019-C16 Commercial Mortgage Trust                                         | CUSIP: 12596WAM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      163000 | PA      | $136211.44    | 0.00%             | 2052-06-15      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT MAR 27                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |        -381 | NC      | $-274817.76   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| RMR Group Inc/The                                         | RMR Group Inc/The                                                                | CUSIP: 74967R106<br>LEI: 549300JP4L34E48UJM16 | Long             | EC               | CORP              | US        |         700 | NS      | $11445.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.273% 12/19/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-11273.57    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Schlumberger NV                                           | Schlumberger NV                                                                  | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Short            | EC               | CORP              | CW        |       -8521 | NS      | $-288009.80   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Identiv Inc                                               | Identiv Inc                                                                      | CUSIP: 45170X205<br>LEI: 5299008KH3C585Z0DS77 | Long             | EC               | CORP              | US        |         100 | NS      | $326.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Full House Resorts Inc                                    | Full House Resorts Inc                                                           | CUSIP: 359678109<br>LEI: 5493009DKIWW0H901Y82 | Short            | EC               | CORP              | US        |       -2200 | NS      | $-8052.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BLP Commercial Mortgage Trust                             | BLP Commercial Mortgage Trust 2024-IND2                                          | CUSIP: 05625AAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4734649 | PA      | $4732877.83   | 0.13%             | 2041-03-15      | Floating      | 8.00%                 | No            | 2                  | On Loan: No      |
| Airbnb Inc                                                | Airbnb Inc                                                                       | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |       57800 | NS      | $7649252.00   | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | US 2YR NOTE (CBT) Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -273 | NC      | $-203387.39   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2005-10CB                                                 | CUSIP: 12667GAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      252906 | PA      | $190363.89    | 0.01%             | 2035-05-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| Deephaven Residential Mortgage Trust                      | Deephaven Residential Mortgage Trust 2021-3                                      | CUSIP: 24381VAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $72136.40     | 0.00%             | 2066-08-25      | Variable      | 4.13%                 | No            | 2                  | On Loan: No      |
| Flushing Financial Corp                                   | Flushing Financial Corp                                                          | CUSIP: 343873105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5300 | NS      | $62964.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN APR 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $6690.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Crawford & Co                                             | Crawford & Co                                                                    | CUSIP: 224633206<br>LEI: 7TZZFJ2GPOGLWIKIXY82 | Long             | EC               | CORP              | US        |         300 | NS      | $3174.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Simpson Manufacturing Co Inc                              | Simpson Manufacturing Co Inc                                                     | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |       46802 | NS      | $7268818.62   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| TransMedics Group Inc                                     | TransMedics Group Inc                                                            | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |        2800 | NS      | $375228.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| NN Inc                                                    | NN Inc                                                                           | CUSIP: 629337106<br>LEI: 549300SU3TUM6VH84645 | Short            | EC               | CORP              | US        |        -700 | NS      | $-1470.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lincoln Educational Services Corp                         | Lincoln Educational Services Corp                                                | CUSIP: 533535100<br>LEI: 549300BJ55KUY6RG7L98 | Long             | EC               | CORP              | US        |         700 | NS      | $16135.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| KLA Corp                                                  | KLA Corp                                                                         | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Short            | EC               | CORP              | US        |        -100 | NS      | $-89574.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division          | ICE 3MTH SONIA JUN 27                                                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              |  | US        |         714 | NC      | $251604.70    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      874833 | PA      | $874833.05    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| BHMS Mortgage Trust                                       | BHMS 2018-ATLS                                                                   | CUSIP: 05549GAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2103000 | PA      | $2086926.77   | 0.06%             | 2035-07-15      | Floating      | 7.61%                 | No            | 2                  | On Loan: No      |
| SharkNinja Inc                                            | SharkNinja Inc                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -100 | NS      | $-9899.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SASOL Financing USA LLC                                   | Sasol Financing USA LLC                                                          | CUSIP: 80386WAB1<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |     7908000 | PA      | $7513492.82   | 0.20%             | 2028-09-27      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Osaka Exchange                                            | TOPIX INDX FUTR   Sep25                                                          | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |          27 | NC      | $123119.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MEXICAN UDIBONOS                                          | Mexican Udibonos                                                                 | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    11307700 | PA      | $538818.88    | 0.01%             | 2040-11-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 0.797% 01/13/2026 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |       80000 | OU      | $2037.88      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.52625% 04/12/2055 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $5481.27      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Cargo Therapeutics Inc                                    | Cargo Therapeutics Inc                                                           | CUSIP: 14179K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $1648.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ITOCHU Corp                                               | ITOCHU Corp                                                                      | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |         900 | NS      | $47128.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Etsy Inc                                                  | Etsy Inc                                                                         | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |         800 | NS      | $40128.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Credit Suisse Mortgage Trust                              | CSMC 2021-NQM3                                                                   | CUSIP: 12660LAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      800000 | PA      | $541684.80    | 0.01%             | 2066-04-25      | Variable      | 4.13%                 | No            | 2                  | On Loan: No      |
| SpringWorks Therapeutics Inc                              | SpringWorks Therapeutics Inc                                                     | CUSIP: 85205L107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -25600 | NS      | $-1202944.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Prairie Operating Co                                      | Prairie Operating Co                                                             | CUSIP: 739650109<br>LEI: 549300NX50XL5HR17C26 | Short            | EC               | CORP              | US        |        -200 | NS      | $-599.02      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Bryant Park Funding Ltd                                   | Bryant Park Funding 2024-22 Ltd                                                  | CUSIP: 11766EAA8<br>LEI: 5493000N8L82QL1KEO96 | Long             | ABS-CBDO         | CORP              | KY        |     1250000 | PA      | $1248717.50   | 0.03%             | 2037-04-15      | Floating      | 11.39%                | No            | 2                  | On Loan: No      |
| Nokia Oyj                                                 | Nokia Oyj                                                                        | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Short            | EC               | CORP              | FI        |     -113600 | NS      | $-588448.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | Variance Swap - SPX (19.9% - 2025-09-19)                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |        1256 | OU      | $-33270.23    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Aeolus Property Catastrophe Keystone Fund LP              | AEOLUS CAT KEYSTNE PF FND J21 HEDGE FUND                                         | CUSIP: 000000000<br>LEI: 549300M81L7DY2FLM778 | Long             | EC               | CORP              | US        |           1 | NS      | $7953747.49   | 0.21%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.5651% 04/16/2035 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $448.89       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Sandisk Corp/DE                                           | Sandisk Corp/DE                                                                  | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       89787 | NS      | $4071840.45   | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Benefit Street Partners CLO Ltd                           | Benefit Street Partners CLO XXI Ltd                                              | CUSIP: 08186TAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $996156.00    | 0.03%             | 2034-10-15      | Floating      | 11.22%                | No            | 2                  | On Loan: No      |
| NYSE Euronext Liffe                                       | EURIBOR 3MO (LIFFE) JUN 26                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         447 | NC      | $-61232.25    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Regional Management Corp                                  | Regional Management Corp                                                         | CUSIP: 75902K106<br>LEI: 549300S5O87W87JW4146 | Long             | EC               | CORP              | US        |         200 | NS      | $5842.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (744) MAY 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |          55 | NC      | $-299959.27   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Fortress Biotech Inc                                      | Fortress Biotech Inc                                                             | CUSIP: 34960Q307<br>LEI: 529900DZUWSYUURECK24 | Short            | EC               | CORP              | US        |       -2180 | NS      | $-4054.80     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AXT Inc                                                   | AXT Inc                                                                          | CUSIP: 00246W103<br>LEI: 549300M2142IVLVIJN37 | Long             | EC               | CORP              | US        |        3200 | NS      | $6688.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Jiuzi Holdings Inc                                        | Jiuzi Holdings Inc                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |           1 | NS      | $0.96         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Arq Inc                                                   | Arq Inc                                                                          | CUSIP: 00770C101<br>LEI: 52990086HRJSW2EZQH40 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-5907.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| DENTSPLY SIRONA Inc                                       | DENTSPLY SIRONA Inc                                                              | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Short            | EC               | CORP              | US        |        -500 | NS      | $-7940.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Builders FirstSource Inc                                  | Builders FirstSource Inc                                                         | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Short            | EC               | CORP              | US        |       -1500 | NS      | $-175035.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Informatica Inc                                           | Informatica Inc                                                                  | CUSIP: 45674M101<br>LEI: 984500E0DEFFE6DE9588 | Short            | EC               | CORP              | US        |      -15200 | NS      | $-370120.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Byrna Technologies Inc                                    | Byrna Technologies Inc                                                           | CUSIP: 12448X201<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -800 | NS      | $-24704.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| General Electric Co                                       | General Electric Co                                                              | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-283129.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      562884 | PA      | $562884.09    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Romark CLO Ltd                                            | Romark CLO IV Ltd                                                                | CUSIP: 77588MAA7<br>LEI: 549300HD9K8XL8QM2Z46 | Long             | ABS-CBDO         | CORP              | KY        |      500000 | PA      | $483702.50    | 0.01%             | 2034-07-10      | Floating      | 11.42%                | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD KRW/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-24250.29    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.5315% 10/24/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-3380.27     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Applied Optoelectronics Inc                               | Applied Optoelectronics Inc                                                      | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |        1600 | NS      | $41104.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ferguson Enterprises Inc                                  | Ferguson Enterprises Inc                                                         | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Short            | EC               | CORP              | US        |       -5000 | NS      | $-1088750.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Encore Energy Corp                                        | Encore Energy Corp                                                               | CUSIP: 29259W700<br>LEI: 5299007FNX2NVNJM3O59 | Short            | EC               | CORP              | CA        |       -2200 | NS      | $-6292.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nutanix Inc                                               | Nutanix Inc                                                                      | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |       11100 | NS      | $848484.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.84025% 05/31/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      300000 | OU      | $-8864.58     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bryant Park Funding Ltd                                   | Bryant Park Funding 2024-23 Ltd                                                  | CUSIP: 11765CAL9<br>LEI: 391200W7QGMU3U2OCV81 | Long             | ABS-CBDO         | CORP              | KY        |     1250000 | PA      | $1256721.25   | 0.03%             | 2037-05-15      | Floating      | 8.18%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 1.317% 02/28/2027 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     5000000 | OU      | $201893.84    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Aligos Therapeutics Inc                                   | Aligos Therapeutics Inc                                                          | CUSIP: 01626L204<br>LEI: 549300UU2UJIKJYX0S67 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-7931.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BX Trust                                                  | BX Commercial Mortgage Trust 2021-SOAR                                           | CUSIP: 05608WAS3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      208664 | PA      | $208691.14    | 0.01%             | 2038-06-15      | Floating      | 7.23%                 | No            | 2                  | On Loan: No      |
| AEON Biopharma Inc                                        | AEON Biopharma Inc                                                               | CUSIP: 00791X209<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1300 | NS      | $-988.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| First American Financial Corp                             | First American Financial Corp                                                    | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Short            | EC               | CORP              | US        |        -911 | NS      | $-55926.29    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Buy SDBC SNRFOR USD 100 Dec 2027 MORG_ISDA 1%                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              |  | CN        |     2200000 | OU      | $-40591.27    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LKQ Corp                                                  | LKQ Corp                                                                         | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Short            | EC               | CORP              | US        |      -10700 | NS      | $-396007.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| ThredUp Inc                                               | ThredUp Inc                                                                      | CUSIP: 88556E102<br>LEI: 549300JKGKTKX3L3XK25 | Long             | EC               | CORP              | US        |       11300 | NS      | $84637.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.470689% 02/26/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      300000 | OU      | $15281.30     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| iQIYI Inc                                                 | iQIYI Inc                                                                        | CUSIP: 46267X108<br>LEI: 222100XL8T2Q5B8MS302 | Long             | EC               | CORP              | KY        |       49900 | NS      | $88323.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Auddia Inc                                                | Auddia Inc                                                                       | CUSIP: 05072K305<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -123 | NS      | $-694.95      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Worksport Ltd                                             | Worksport Ltd                                                                    | CUSIP: 98139Q308<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1705 | NS      | $-4825.15     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Towd Point Mortgage Trust                                 | Towd Point Mortgage Trust 2020-1                                                 | CUSIP: 89178WAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2690000 | PA      | $1869480.06   | 0.05%             | 2060-01-25      | Variable      | 4.56%                 | No            | 2                  | On Loan: No      |
| Maison Solutions Inc                                      | Maison Solutions Inc                                                             | CUSIP: 560667107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          46 | NS      | $40.63        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Enovis Corp                                               | Enovis Corp                                                                      | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Short            | EC               | CORP              | US        |      -15800 | NS      | $-495488.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Variance Swap - SPX (21.1% - 2025-09-19)                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        2251 | OU      | $-288714.46   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Park Aerospace Corp                                       | Park Aerospace Corp                                                              | CUSIP: 70014A104<br>LEI: 5299004AG0G7IB636095 | Long             | EC               | CORP              | US        |         500 | NS      | $7385.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Hilton Grand Vacations Inc                                | Hilton Grand Vacations Inc                                                       | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Short            | EC               | CORP              | US        |       -4000 | NS      | $-166120.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.3603% 03/05/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $-4278.95     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Moody's Corp                                              | Moody's Corp                                                                     | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Short            | EC               | CORP              | US        |        -167 | NS      | $-83765.53    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CytomX Therapeutics Inc                                   | CytomX Therapeutics Inc                                                          | CUSIP: 23284F105<br>LEI: 5493004VW2FW0QLL3345 | Short            | EC               | CORP              | US        |       -2900 | NS      | $-6583.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BlueLinx Holdings Inc                                     | BlueLinx Holdings Inc                                                            | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |         600 | NS      | $44628.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Guardant Health Inc                                       | Guardant Health Inc                                                              | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |       29700 | NS      | $1545588.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | Variance Swap - SPX (19.45% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |       -3281 | OU      | $-396469.01   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Eagle Materials Inc                                       | Eagle Materials Inc                                                              | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |         300 | NS      | $60633.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| KULR Technology Group Inc                                 | KULR Technology Group Inc                                                        | CUSIP: 50125G307<br>LEI: 213800YUOETJ427AGG25 | Short            | EC               | CORP              | US        |       -7300 | NS      | $-52049.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1065909 | PA      | $1065909.29   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Hilltop Holdings Inc                                      | Hilltop Holdings Inc                                                             | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |       79626 | NS      | $2416649.10   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| SkyWater Technology Inc                                   | SkyWater Technology Inc                                                          | CUSIP: 83089J108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1500 | NS      | $-14760.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Manitowoc Co Inc/The                                      | Manitowoc Co Inc/The                                                             | CUSIP: 563571405<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | EC               | CORP              | US        |        4100 | NS      | $49282.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT SEP 29                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |          -9 | NC      | $-837.50      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Grocery Outlet Holding Corp                               | Grocery Outlet Holding Corp                                                      | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2800 | NS      | $34776.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Variance Swap - SPX (19.3% - 2025-09-19)                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |       -2205 | OU      | $-263369.07   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Clover Health Investments Corp                            | Clover Health Investments Corp                                                   | CUSIP: 18914F103<br>LEI: 5493000HLYOYQU6LK133 | Short            | EC               | CORP              | US        |      -35100 | NS      | $-97929.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT APR 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $35125.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nebius Group NV                                           | Nebius Group NV                                                                  | CUSIP: 000000000<br>LEI: 549300GGZHJ5Q1B18P93 | Short            | EC               | CORP              | NL        |      -21800 | NS      | $-1206194.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Beamr Imaging Ltd                                         | Beamr Imaging Ltd                                                                | CUSIP: 000000000<br>LEI: 21380032IJWFUF5FP166 | Short            | EC               | CORP              | IL        |        -800 | NS      | $-2524.02     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT DEC 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-79350.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Tenon Medical Inc                                         | Tenon Medical Inc                                                                | CUSIP: 88066N303<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -49 | NS      | $-47.89       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.6735% 09/13/2028 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     2500000 | OU      | $61906.36     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Howmet Aerospace Inc                                      | Howmet Aerospace Inc                                                             | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Short            | EC               | CORP              | US        |       -3700 | NS      | $-688681.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Cue Biopharma Inc                                         | Cue Biopharma Inc                                                                | CUSIP: 22978P106<br>LEI: 549300PBW78KZA33WC97 | Short            | EC               | CORP              | US        |        -200 | NS      | $-136.46      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| EverQuote Inc                                             | EverQuote Inc                                                                    | CUSIP: 30041R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $4836.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tempus AI Inc                                             | Tempus AI Inc                                                                    | CUSIP: 88023B103<br>LEI: 2549009LA0KWRAGQBX50 | Long             | EC               | CORP              | US        |         200 | NS      | $12708.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.8063% 10/24/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $2294.44      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| GALECTIN THERAPEUTICS INC                                 | GALECTIN THERAPEUTICS INC                                                        | CUSIP: 363225129<br>LEI: N/A                  | N/A              | DE               |  | US        |       -1340 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE VIX FUTURE   Dec25                                                          | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |         416 | NC      | $-155534.05   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| America's Car-Mart Inc/TX                                 | America's Car-Mart Inc/TX                                                        | CUSIP: 03062T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       15295 | NS      | $857131.80    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                 | Taiwan Semiconductor Manufacturing Co Ltd                                        | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Short            | EC               | CORP              | TW        |      -28421 | NS      | $-6437072.29  | -0.17%            |  |  |  | No            | 1                  | On Loan: No      |
| Core Natural Resources Inc                                | Core Natural Resources Inc                                                       | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Short            | EC               | CORP              | US        |       -2321 | NS      | $-161866.54   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Tronox Holdings PLC                                       | Tronox Holdings PLC                                                              | CUSIP: 000000000<br>LEI: 549300NRVC84SGJSXV06 | Long             | EC               | CORP              | GB        |        1300 | NS      | $6591.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CIFC Funding Ltd                                          | CIFC Funding 2019-II Ltd                                                         | CUSIP: 12554FAE1<br>LEI: 254900JI8OLAMXS6KW67 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $996143.00    | 0.03%             | 2034-04-17      | Floating      | 11.13%                | No            | 2                  | On Loan: No      |
| TSS Inc/MD                                                | TSS Inc/MD                                                                       | CUSIP: 87288V101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-8649.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Alaska Air Group Inc                                      | Alaska Air Group Inc                                                             | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |         900 | NS      | $44532.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| KEDRION SPA                                               | Kedrion SpA                                                                      | CUSIP: 49272YAB9<br>LEI: 81560047FA58E1BEDF67 | Long             | DBT              | CORP              | IT        |     1772000 | PA      | $1695869.29   | 0.05%             | 2029-09-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Terns Pharmaceuticals Inc                                 | Terns Pharmaceuticals Inc                                                        | CUSIP: 880881107<br>LEI: 254900S1ZDQMF4MYP709 | Long             | EC               | CORP              | US        |        5900 | NS      | $22007.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2014-CR14 Mortgage Trust                                                    | CUSIP: 12630DAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      591000 | PA      | $462617.07    | 0.01%             | 2047-02-10      | Variable      | 3.79%                 | No            | 2                  | On Loan: No      |
| Hertz Global Holdings Inc                                 | Hertz Global Holdings Inc                                                        | CUSIP: 42806J700<br>LEI: 549300NBK3K85MH1EX16 | Long             | EC               | CORP              | US        |        7500 | NS      | $51225.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| EOG Resources Inc                                         | EOG Resources Inc                                                                | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Short            | EC               | CORP              | US        |       -8526 | NS      | $-1019794.86  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Eventbrite Inc                                            | Eventbrite Inc                                                                   | CUSIP: 29975E109<br>LEI: 549300N6XBV2B1FAUF55 | Long             | EC               | CORP              | US        |       14800 | NS      | $38924.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 25P                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        2770 | NC      | $3193810.00   | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| WaVe Life Sciences Ltd                                    | WaVe Life Sciences Ltd                                                           | CUSIP: 000000000<br>LEI: 54930070006GPKFYZ813 | Long             | EC               | CORP              | SG        |         400 | NS      | $2600.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.4261% 10/09/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      100000 | OU      | $9288.33      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.2174% 01/14/2055 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-439.90      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| AEOLUS CAT KEYSTNE PF FND J22                             | AEOLUS CAT KEYSTNE PF FND J22                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |           1 | NS      | $2430338.69   | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| Life Financial Services Trust                             | Life 2021-BMR Mortgage Trust                                                     | CUSIP: 53218CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      805000 | PA      | $797284.88    | 0.02%             | 2038-03-15      | Floating      | 6.78%                 | No            | 2                  | On Loan: No      |
| Houston American Energy Corp                              | Houston American Energy Corp                                                     | CUSIP: 44183U308<br>LEI: 529900T1EP0O1TPDYY93 | Long             | EC               | CORP              | US        |          40 | NS      | $423.60       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| CG oncology Inc                                           | CG oncology Inc                                                                  | CUSIP: 156944100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3500 | NS      | $-91000.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Digital Ally Inc                                          | Digital Ally Inc                                                                 | CUSIP: 25382T408<br>LEI: 529900DE18BKLSW12F89 | Short            | EC               | CORP              | US        |        -500 | NS      | $-1190.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Voyager Technologies Inc                                  | Voyager Technologies Inc                                                         | CUSIP: 92892B103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-3925.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT GBP/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | GB        |           1 | NC      | $1283.06      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  AUG26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-776797.36   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Dec 2026 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     8200000 | OU      | $80531.20     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Upbound Group Inc                                         | Upbound Group Inc                                                                | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Short            | EC               | CORP              | US        |        -400 | NS      | $-10040.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TTEC Holdings Inc                                         | TTEC Holdings Inc                                                                | CUSIP: 89854H102<br>LEI: GTJS1N8S8I28A7L4WG97 | Long             | EC               | CORP              | US        |       11000 | NS      | $52910.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% JUL 25 97.5P                                                    | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |          82 | NC      | $27552.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT IDR/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | ID        |           1 | NC      | $29628.23     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Crane NXT Co                                              | Crane NXT Co                                                                     | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |         700 | NS      | $37730.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ING Groep NV                                              | ING Groep NV                                                                     | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Short            | EC               | CORP              | NL        |        -439 | NS      | $-9621.85     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Kontoor Brands Inc                                        | Kontoor Brands Inc                                                               | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Short            | EC               | CORP              | US        |        -300 | NS      | $-19791.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Palantir Technologies Inc                                 | Palantir Technologies Inc                                                        | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |       96800 | NS      | $13195776.00  | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  MAR27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $88047.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Evolv Technologies Holdings Inc                           | Evolv Technologies Holdings Inc                                                  | CUSIP: 30049H102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       17300 | NS      | $107952.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ImmunityBio Inc                                           | ImmunityBio Inc                                                                  | CUSIP: 45256X103<br>LEI: 529900J9XLBR4HFL4B83 | Long             | EC               | CORP              | US        |           2 | NS      | $5.28         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| First Bank/Hamilton NJ                                    | First Bank/Hamilton NJ                                                           | CUSIP: 31931U102<br>LEI: 549300YS4CB1171BRJ08 | Long             | EC               | CORP              | US        |         200 | NS      | $3094.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                                | Fannie Mae REMICS                                                                | CUSIP: 3136BLK90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    26000576 | PA      | $2962375.67   | 0.08%             | 2052-02-25      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                  | Government National Mortgage Association                                         | CUSIP: 38383TWM1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    18748951 | PA      | $3498160.51   | 0.09%             | 2052-06-20      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Cipher Mining Inc                                         | Cipher Mining Inc                                                                | CUSIP: 17253J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3000 | NS      | $14340.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Safe & Green Development Corp                             | Safe & Green Development Corp                                                    | CUSIP: 78637J204<br>LEI: N/A                  | Short            | EC               | CORP              | US        |          -5 | NS      | $-4.30        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Siemens Energy AG                                         | Siemens Energy AG                                                                | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Short            | EC               | CORP              | DE        |        -800 | NS      | $-93504.69    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Marvell Technology Inc                                    | Marvell Technology Inc                                                           | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1800 | NS      | $139320.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                        | Morgan Stanley Mortgage Loan Trust 2005-1                                        | CUSIP: 61748HJM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      419195 | PA      | $293810.97    | 0.01%             | 2035-03-25      | Variable      | 5.63%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT MAR 26                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -53 | NC      | $-34900.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.7875% 04/13/2026 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |   -34000000 | OU      | $-33136.85    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| PriceSmart Inc                                            | PriceSmart Inc                                                                   | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Short            | EC               | CORP              | US        |        -100 | NS      | $-10504.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Benefit Street Partners CLO Ltd                           | Benefit Street Partners CLO XXIII Ltd                                            | CUSIP: 08186VAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1800000 | PA      | $1807090.20   | 0.05%             | 2034-04-25      | Floating      | 8.19%                 | No            | 2                  | On Loan: No      |
| Precigen Inc                                              | Precigen Inc                                                                     | CUSIP: 74017N105<br>LEI: 549300XCWNQU35K64G19 | Short            | EC               | CORP              | US        |       -9500 | NS      | $-13490.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ASE Technology Holding Co Ltd                             | ASE Technology Holding Co Ltd                                                    | CUSIP: 00215W100<br>LEI: 300300GO8QHPMV87NZ73 | Short            | EC               | CORP              | TW        |      -19000 | NS      | $-196270.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Vivid Seats Inc                                           | Vivid Seats Inc                                                                  | CUSIP: 92854T100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-338.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Baxter International Inc                                  | Baxter International Inc                                                         | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |       -3600 | NS      | $-109008.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BIT Mining Ltd                                            | BIT Mining Ltd                                                                   | CUSIP: 055474209<br>LEI: 5299003CDPQ0UW1SQC26 | Short            | EC               | CORP              | KY        |         -50 | NS      | $-102.50      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Destination XL Group Inc                                  | Destination XL Group Inc                                                         | CUSIP: 25065K104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-111.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Katayma CLO Ltd                                           | Katayma CLO I Ltd                                                                | CUSIP: 48585JAJ9<br>LEI: 254900I6JJYMZNFX8987 | Long             | ABS-CBDO         | CORP              | JE        |     3580000 | PA      | $3608027.82   | 0.10%             | 2036-10-20      | Floating      | 9.52%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | Variance Swap - SPX (19.7% - 2025-09-19)                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |       -2160 | OU      | $-166625.33   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | EURO FX SEP 25                                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         -16 | NC      | $-33725.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | SO CDX.NA.IG.44 Put  67.5% 01-Jan-2038                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              |  | US        |  3101750000 | NC      | $2149602.20   | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEAN FUTURE    Jan26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       -1332 | NC      | $894636.38    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS OCT 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           4 | NC      | $-7080.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Canopy Growth Corp                                        | Canopy Growth Corp                                                               | CUSIP: 138035704<br>LEI: 529900CSD7NH1UBC9X07 | Short            | EC               | CORP              | CA        |      -22880 | NS      | $-27913.60    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT APR27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          58 | NC      | $150.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Carlisle Cos Inc                                          | Carlisle Cos Inc                                                                 | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Short            | EC               | CORP              | US        |        -700 | NS      | $-261380.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Global Markets, Inc.                            | Citigroup Global Markets, Inc.                                                   | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | RA               | CORP              | US        |      687310 | PA      | $687310.00    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.86% 04/28/2027 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     3000000 | OU      | $-14960.48    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS JPY 0.7077% 09/29/2027 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | JP        |   597000000 | OU      | $6217.65      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | SOYBEAN OIL OPTIONS MAR 26 75C                                                   | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DCO              |  | US        |         -63 | NC      | $-22491.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Mortgage Loan Trust                              | Barclays Mortgage Loan Trust 2021-NQM1                                           | CUSIP: 06744UAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $87653.60     | 0.00%             | 2051-09-25      | Fixed         | 5.43%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT FEB 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $193800.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT JAN 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-84150.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Herc Holdings Inc                                         | Herc Holdings Inc                                                                | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Short            | EC               | CORP              | US        |         -25 | NS      | $-3292.25     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | SELL CDS ITRAXX EUROPE CROSSOVER SERIES 43 V1_500B                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     5000000 | OU      | $557407.17    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT NOV 25 3.6P                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         100 | NC      | $295800.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Micro Devices Inc                                | Advanced Micro Devices Inc                                                       | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Short            | EC               | CORP              | US        |      -53100 | NS      | $-7534890.00  | -0.20%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-8T1                                                  | CUSIP: 12668BME0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      685791 | PA      | $228698.20    | 0.01%             | 2036-04-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| Odyssey Marine Exploration Inc                            | Odyssey Marine Exploration Inc                                                   | CUSIP: 676118201<br>LEI: 549300KNVIY6EZIJ2221 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-1416.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT TRY/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | TR        |           1 | NC      | $24133.20     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.68% 04/09/2040 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $2527.07      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Board of Trade                                   | SUGAR (112000) OCT 25                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         822 | NC      | $-557362.40   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| OnKure Therapeutics Inc                                   | OnKure Therapeutics Inc                                                          | CUSIP: 68277Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         470 | NS      | $1123.30      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LEARFIELD COMMUNICATIONS EQUITY                           | LEARFIELD COMMUNICATIONS EQUITY                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       91802 | NS      | $8170378.00   | 0.22%             |  |  |  | No            | 3                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) DEC 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -336 | NC      | $82614.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.0212% 02/07/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      500000 | OU      | $-12141.30    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Gen Digital Inc                                           | Gen Digital Inc                                                                  | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Short            | EC               | CORP              | US        |      -16500 | NS      | $-485100.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Vertiv Holdings Co                                        | Vertiv Holdings Co                                                               | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Short            | EC               | CORP              | US        |      -12200 | NS      | $-1566602.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.73355% 08/28/2029 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      500000 | OU      | $2817.05      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| TruGolf Holdings Inc                                      | TruGolf Holdings Inc                                                             | CUSIP: 243733409<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -156 | NS      | $-892.32      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| BMO Mortgage Trust                                        | BMO 2025-5C10 Mortgage Trust                                                     | CUSIP: 05615BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $96173.00     | 0.00%             | 2058-05-15      | Variable      | 2.50%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.665% 05/15/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-13512.04    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/25 50P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |        -105 | NC      | $103950.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bowhead Specialty Holdings Inc                            | Bowhead Specialty Holdings Inc                                                   | CUSIP: 10240L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       12708 | NS      | $476931.24    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Lifezone Metals Ltd                                       | Lifezone Metals Ltd                                                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IM        |        -400 | NS      | $-1648.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Heartland Express Inc                                     | Heartland Express Inc                                                            | CUSIP: 422347104<br>LEI: 5299005V45FZIQGLOG39 | Long             | EC               | CORP              | US        |        7100 | NS      | $61344.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Southwest Gas Holdings Inc                                | Southwest Gas Holdings Inc                                                       | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Short            | EC               | CORP              | US        |       -2200 | NS      | $-163658.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT SEP27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $2000.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Crown Castle Inc                                          | Crown Castle Inc                                                                 | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Short            | EC               |  | US        |       -1598 | NS      | $-164162.54   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| OCP CLO Ltd                                               | OCP CLO 2017-13 Ltd                                                              | CUSIP: 67097NAJ1<br>LEI: 254900M77QLN2EBJHE11 | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1498848.00   | 0.04%             | 2037-11-26      | Floating      | 10.17%                | No            | 2                  | On Loan: No      |
| Shift4 Payments Inc                                       | Shift4 Payments Inc                                                              | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2255 | NS      | $223493.05    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      849482 | PA      | $849482.20    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| SoundHound AI Inc                                         | SoundHound AI Inc                                                                | CUSIP: 836100107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -125500 | NS      | $-1346615.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | RBOB GASOLINE FT  Sep25                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          -1 | NC      | $117.60       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Marin Software Inc                                        | Marin Software Inc                                                               | CUSIP: 56804T304<br>LEI: 529900G58P3UFOACQI16 | Short            | EC               | CORP              | US        |         -33 | NS      | $-29.64       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Pulmonx Corp                                              | Pulmonx Corp                                                                     | CUSIP: 745848101<br>LEI: 549300WZMFR0ZK7RJY40 | Long             | EC               | CORP              | US        |        3200 | NS      | $8288.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                | JPMBB Commercial Mortgage Securities Trust 2015-C31                              | CUSIP: 46644YAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1093000 | PA      | $396528.38    | 0.01%             | 2048-08-15      | Variable      | 4.75%                 | No            | 2                  | On Loan: No      |
| B Riley Financial Inc                                     | B Riley Financial Inc                                                            | CUSIP: 05580M108<br>LEI: 529900LRQ75IKIPK4990 | Short            | EC               | CORP              | US        |        -700 | NS      | $-2079.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT ILS/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | IL        |           1 | NC      | $37914.44     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Coherent Corp                                             | Coherent Corp                                                                    | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Short            | EC               | CORP              | US        |      -19200 | NS      | $-1712832.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| PBF Energy Inc                                            | PBF Energy Inc                                                                   | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |       18400 | NS      | $398728.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Lumentum Holdings Inc                                     | Lumentum Holdings Inc                                                            | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Short            | EC               | CORP              | US        |      -11900 | NS      | $-1131214.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | CORN DEC 25                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        2037 | NC      | $-346799.37   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Inhibikase Therapeutics Inc                               | Inhibikase Therapeutics Inc                                                      | CUSIP: 45719W205<br>LEI: 549300066CFEWOA17F12 | Short            | EC               | CORP              | US        |        -600 | NS      | $-1170.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Rambus Inc                                                | Rambus Inc                                                                       | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |         800 | NS      | $51216.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-39CB                                                 | CUSIP: 02148JAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      275281 | PA      | $194206.24    | 0.01%             | 2037-01-25      | Floating      | 5.03%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JAN 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -55 | NC      | $-295250.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| TD SYNNEX Corp                                            | TD SYNNEX Corp                                                                   | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Short            | EC               | CORP              | US        |        -700 | NS      | $-94990.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-41CB                                                 | CUSIP: 02149CAY7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1141531 | PA      | $469377.20    | 0.01%             | 2037-01-25      | Floating      | 5.08%                 | No            | 2                  | On Loan: No      |
| BAIYU Holdings Inc                                        | BAIYU Holdings Inc                                                               | CUSIP: 87250W301<br>LEI: 54930031878K0FR3JC36 | Short            | EC               | CORP              | US        |       -5388 | NS      | $-964.45      | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Corp Trust 2021-ROSS                                      | CUSIP: 36264YAS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $114157.00    | 0.00%             | 2026-05-15      | Floating      | 10.48%                | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN SEP 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-3750.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CATTLE AUG 25                                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        -552 | NC      | $-1646804.92  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.486505% 02/06/2030 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $-2146.26     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Michaels Companies Inc                                    | Michaels Companies Inc 2021 Term Loan B                                          | CUSIP: 59408UAB3<br>LEI: 549300H9LWMBP7HYLR98 | Long             | LON              | CORP              | US        |     2165402 | PA      | $1810363.04   | 0.05%             | 2028-04-17      | Floating      | 8.81%                 | No            | 2                  | On Loan: No      |
| Precision BioSciences Inc                                 | Precision BioSciences Inc                                                        | CUSIP: 74019P207<br>LEI: 549300I5QGRS3BLHZH41 | Short            | EC               | CORP              | US        |       -1178 | NS      | $-4947.60     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| T1 Energy Inc                                             | T1 Energy Inc                                                                    | CUSIP: 35834F104<br>LEI: 529900H0645VFXNMJ693 | Short            | EC               | CORP              | US        |       -4900 | NS      | $-6027.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| FNB Corp/PA                                               | FNB Corp/PA                                                                      | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Short            | EC               | CORP              | US        |      -20172 | NS      | $-294107.76   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Fanniemae Strip                                           | Fannie Mae Interest Strip                                                        | CUSIP: 31395QSV3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     9073408 | PA      | $1657121.86   | 0.04%             | 2042-07-25      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.778% 04/03/2040 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $-352.62      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Hycroft Mining Holding Corp                               | Hycroft Mining Holding Corp                                                      | CUSIP: 44862P208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          40 | NS      | $125.20       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% JUN 25 85P                                                      | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |         -84 | NC      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| loanDepot Inc                                             | loanDepot Inc                                                                    | CUSIP: 53946R106<br>LEI: 5493003261L42OH8RK59 | Short            | EC               | CORP              | US        |       -1400 | NS      | $-1778.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT DEC 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-105950.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NRG Energy Inc                                            | NRG Energy Inc                                                                   | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Short            | EC               | CORP              | US        |       -5100 | NS      | $-818958.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| HCI Group Inc                                             | HCI Group Inc                                                                    | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |        1600 | NS      | $243520.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Broad River BSL Funding CLO Ltd                           | Broad River Bsl Funding Clo Ltd 2020-1                                           | CUSIP: 11124TAQ7<br>LEI: 5493000KEEYM16WOW109 | Long             | ABS-CBDO         | CORP              | KY        |     1400000 | PA      | $1399622.00   | 0.04%             | 2034-07-20      | Floating      | 7.63%                 | No            | 2                  | On Loan: No      |
| Emerald Holding Inc                                       | Emerald Holding Inc                                                              | CUSIP: 29103W104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-485.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fennec Pharmaceuticals Inc                                | Fennec Pharmaceuticals Inc                                                       | CUSIP: 31447P100<br>LEI: 5299003IE70ITO2CBM73 | Short            | EC               | CORP              | CA        |        -700 | NS      | $-5810.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Babcock & Wilcox Enterprises Inc                          | Babcock & Wilcox Enterprises Inc                                                 | CUSIP: 05614L209<br>LEI: 5493006H661OZN2C0T54 | Short            | EC               | CORP              | US        |       -2700 | NS      | $-2597.66     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% SEP 25 97.5P                                                    | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |          82 | NC      | $43378.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | Buy MEXICO SNRFOR USD 100 Jun 2030 JPMB_ISDA 1%                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | MX        |     2400000 | OU      | $7318.87      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| ServiceTitan Inc                                          | ServiceTitan Inc                                                                 | CUSIP: 81764X103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-32154.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Koninklijke Philips NV                                    | Koninklijke Philips NV                                                           | CUSIP: 500472303<br>LEI: H1FJE8H61JGM1JSGM897 | Short            | EC               | CORP              | NL        |      -20104 | NS      | $-482093.92   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% AUG 25                                                          | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |        -681 | NC      | $-106917.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT TRY/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | TR        |           1 | NC      | $71362.70     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Genuine Parts Co                                          | Genuine Parts Co                                                                 | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Short            | EC               | CORP              | US        |       -7300 | NS      | $-885563.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Worldwide Plaza Trust                                     | Worldwide Plaza Trust 2017-WWP                                                   | CUSIP: 98162JAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      109000 | PA      | $6638.32      | 0.00%             | 2036-11-10      | Variable      | 3.72%                 | No            | 2                  | On Loan: No      |
| Nuvation Bio Inc                                          | Nuvation Bio Inc                                                                 | CUSIP: 67080N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7900 | NS      | $15405.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bridgewater Bancshares Inc                                | Bridgewater Bancshares Inc                                                       | CUSIP: 108621103<br>LEI: 5493001FLSBTVILKXZ71 | Long             | EC               | CORP              | US        |         600 | NS      | $9546.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kenvue Inc                                                | Kenvue Inc                                                                       | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Short            | EC               | CORP              | US        |     -476200 | NS      | $-9966866.00  | -0.27%            |  |  |  | No            | 1                  | On Loan: No      |
| KLX Energy Services Holdings Inc                          | KLX Energy Services Holdings Inc                                                 | CUSIP: 48253L205<br>LEI: 5493004D4S7MAO1H3U27 | Short            | EC               | CORP              | US        |       -5200 | NS      | $-9724.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TPC GROUP INC                                             | TPC Group Inc 2024 Term Loan B                                                   | CUSIP: 87266EAG0<br>LEI: 549300K276KVW5JD1583 | Long             | LON              | CORP              | US        |      882755 | PA      | $847444.95    | 0.02%             | 2031-12-16      | Floating      | 9.95%                 | No            | 2                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | S&P 500 INDEX JUL 25 5675P                                                       | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |         739 | NC      | $302990.00    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2005-56                                                   | CUSIP: 12668AGP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      273062 | PA      | $258775.87    | 0.01%             | 2035-11-25      | Floating      | 4.42%                 | No            | 2                  | On Loan: No      |
| Bausch + Lomb Corp                                        | Bausch + Lomb Corp                                                               | CUSIP: 071705107<br>LEI: 549300NY6OZM39SO6475 | Short            | EC               | CORP              | CA        |        -200 | NS      | $-2602.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| RLI Corp                                                  | RLI Corp                                                                         | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |      165750 | NS      | $11970465.00  | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Pangaea Logistics Solutions Ltd                           | Pangaea Logistics Solutions Ltd                                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | BM        |        -100 | NS      | $-470.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BENCHMARK Mortgage Trust                                  | Benchmark 2024-V11 Mortgage Trust                                                | CUSIP: 081921AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $70828.00     | 0.00%             | 2057-11-15      | Variable      | 2.09%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | ENTERPRISE PRODUCTS PARTNERS CFD                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     3275411 | OU      | $13788.97     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Deutsche Bank AG                                          | SOUSD_SOFR_P_3.745_20540301_20340301_LCH                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              |  | US        |     4000000 | NC      | $466345.33    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Verus Securitization Trust                                | Verus Securitization Trust 2024-1                                                | CUSIP: 92540EAE3<br>LEI: 984500A3F1D749452747 | Long             | ABS-MBS          | CORP              | US        |     2149000 | PA      | $2168484.99   | 0.06%             | 2069-01-25      | Variable      | 7.91%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  MAY26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-222037.36   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Lamb Weston Holdings Inc                                  | Lamb Weston Holdings Inc                                                         | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |         800 | NS      | $41480.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fibrobiologics Inc                                        | Fibrobiologics Inc                                                               | CUSIP: 31573L105<br>LEI: 5493000KQEGHXVWRMZ92 | Short            | EC               | CORP              | US        |       -3300 | NS      | $-2053.23     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ICU Medical Inc                                           | ICU Medical Inc                                                                  | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Short            | EC               | CORP              | US        |       -2800 | NS      | $-370020.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Spyre Therapeutics, Inc.                                  | Spyre Therapeutics, Inc.                                                         | CUSIP: 007CVR020<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4700 | NS      | $70359.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.046% 07/05/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -300000 | OU      | $7278.86      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Old Second Bancorp Inc                                    | Old Second Bancorp Inc                                                           | CUSIP: 680277100<br>LEI: 549300XVJC1MPUT81C04 | Long             | EC               | CORP              | US        |        1200 | NS      | $21288.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FCLF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    84484013 | PA      | $455030.89    | 0.01%             | 2027-11-25      | Variable      | 0.41%                 | No            | 2                  | On Loan: No      |
| Citibank NA                                               | DO-USDTRY(USD) 07/09/25 37.2P                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |      851000 | OU      | $1069.03      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Rigetti Computing Inc                                     | Rigetti Computing Inc                                                            | CUSIP: 76655K103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5400 | NS      | $-64044.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | NVIDIA CORP OTC 07/18/25 120C                                                    | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |          18 | NC      | $69556.66     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  DEC26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-1571677.36  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.500134% 02/26/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-14999.16    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1921042 | PA      | $1921042.20   | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS SEP 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -53 | NC      | $367500.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NY HARBOR ULSD DEC 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -2 | NC      | $-344.40      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ceragon Networks Ltd                                      | Ceragon Networks Ltd                                                             | CUSIP: 000000000<br>LEI: 529900WC6JZN5WQLZ645 | Long             | EC               | CORP              | IL        |        3400 | NS      | $8364.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cargurus Inc                                              | Cargurus Inc                                                                     | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Short            | EC               | CORP              | US        |       -2900 | NS      | $-97063.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Brookdale Senior Living Inc                               | Brookdale Senior Living Inc                                                      | CUSIP: 112463104<br>LEI: LH7MQB13NWY7CJ9VC445 | Short            | EC               | CORP              | US        |       -1091 | NS      | $-7593.36     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | TOKAIDO REIT INC CFD                                                             | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Verona Pharma PLC                                         | Verona Pharma PLC                                                                | CUSIP: 925050106<br>LEI: 213800EVI6O6J3TIAL06 | Short            | EC               | CORP              | GB        |        -400 | NS      | $-37832.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CHINA SNRFOR USD 100 Dec 2029 Morgan 1%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | CN        |    12000000 | OU      | $-265498.97   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| STONEGATE PUB FIN                                         | Stonegate Pub Co Financing 2019 PLC                                              | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |      200000 | PA      | $284604.16    | 0.01%             | 2029-07-31      | Fixed         | 10.75%                | Yes           | 2                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137HABC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    13603976 | PA      | $2117948.69   | 0.06%             | 2051-10-25      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Babson CLO Ltd                                            | Barings CLO Ltd 2023-III                                                         | CUSIP: 067933AA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $997769.00    | 0.03%             | 2036-10-15      | Floating      | 11.59%                | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 27P                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |       -1135 | NC      | $-2037325.00  | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| Pennant Group Inc/The                                     | Pennant Group Inc/The                                                            | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |        2500 | NS      | $74625.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Aptiv PLC                                                 | Aptiv PLC                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | JE        |      -20600 | NS      | $-1405332.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS NZD 3.69% 09/18/2030 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | NZ        |   -61000000 | OU      | $194528.25    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS OCT 25                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         282 | NC      | $-590120.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Ultrapar Participacoes SA                                 | Ultrapar Participacoes SA                                                        | CUSIP: 90400P101<br>LEI: 529900FU4XBXGQMLRE72 | Long             | EC               | CORP              | BR        |        1500 | NS      | $4920.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| American Rock Salt Company LLC                            | American Rock Salt Company LLC 2021 Term Loan                                    | CUSIP: 02932JAP2<br>LEI: 549300FBKBNV4GSVVR46 | Long             | LON              | CORP              | US        |       49262 | PA      | $39972.31     | 0.00%             | 2028-06-09      | Floating      | 8.59%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.46% 04/25/2030 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     8000000 | OU      | $-4694.65     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| DoorDash Inc                                              | DoorDash Inc                                                                     | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |       39300 | NS      | $9687843.00   | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Skechers USA Inc                                          | Skechers USA Inc                                                                 | CUSIP: 830566105<br>LEI: 529900D2R54KZPA4XR56 | Short            | EC               | CORP              | US        |      -44200 | NS      | $-2789020.00  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| First Solar Inc                                           | First Solar Inc                                                                  | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Short            | EC               | CORP              | US        |      -36400 | NS      | $-6025656.00  | -0.16%            |  |  |  | No            | N/A                | On Loan: No      |
| PPM CLO 3 Ltd.                                            | PPM CLO 3 Ltd                                                                    | CUSIP: 69355BAE1<br>LEI: 549300UEAJV6RALDS969 | Long             | ABS-CBDO         | CORP              | KY        |      500000 | PA      | $435090.50    | 0.01%             | 2034-04-17      | Floating      | 11.15%                | No            | 2                  | On Loan: No      |
| Coeur Mining Inc                                          | Coeur Mining Inc                                                                 | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |       18501 | NS      | $163918.86    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-80845.63    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| American Healthcare REIT Inc                              | American Healthcare REIT Inc                                                     | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Short            | EC               |  | US        |       -5900 | NS      | $-216766.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Nerdy Inc                                                 | Nerdy Inc                                                                        | CUSIP: 64081V109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -14500 | NS      | $-23635.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Norfolk Southern Corp                                     | Norfolk Southern Corp                                                            | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-307164.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Sezzle Inc                                                | Sezzle Inc                                                                       | CUSIP: 78435P105<br>LEI: 9845000CA64541AE3I35 | Long             | EC               | CORP              | US        |         200 | NS      | $35850.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | NEW ZEALAND $ FUT (100000) SEP 25                                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DFE              |  | US        |          40 | NC      | $16910.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.592% 04/07/2035 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    -3500000 | OU      | $-33841.90    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Crocs Inc                                                 | Crocs Inc                                                                        | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Short            | EC               | CORP              | US        |       -3600 | NS      | $-364608.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy QATAR SNRFOR USD 100 Jun 2029 GOLD_ISDA 1%                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | QA        |     7000000 | OU      | $-192023.44   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE JUN 26                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          16 | NC      | $-92090.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bio-key International Inc                                 | Bio-key International Inc                                                        | CUSIP: 09060C507<br>LEI: 549300VFT6WAQB4BVB07 | Short            | EC               | CORP              | US        |          -9 | NS      | $-7.36        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cable One Inc                                             | Cable One Inc                                                                    | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Short            | EC               | CORP              | US        |        -300 | NS      | $-40743.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | Variance Swap - SPX (19.51% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |       -4362 | OU      | $-535164.34   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Avient Corp                                               | Avient Corp                                                                      | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Short            | EC               | CORP              | US        |        -200 | NS      | $-6462.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      242234 | PA      | $242233.68    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT AUG26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         744 | NC      | $933629.74    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| First Busey Corp                                          | First Busey Corp                                                                 | CUSIP: 319383204<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EC               | CORP              | US        |          33 | NS      | $755.21       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Core & Main Inc                                           | Core & Main Inc                                                                  | CUSIP: 21874C102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-12070.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.239455% 03/04/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -700000 | OU      | $-7897.80     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Egypt Government International Bonds                      | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     1281000 | PA      | $983865.20    | 0.03%             | 2048-02-21      | Fixed         | 7.90%                 | Yes           | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-8CB                                                  | CUSIP: 02150FAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      873674 | PA      | $360873.55    | 0.01%             | 2037-05-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-64211.07    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust                | JPMDB Commercial Mortgage Securities Trust 2019-COR6                             | CUSIP: 48129RAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4231000 | PA      | $223637.97    | 0.01%             | 2052-11-13      | Variable      | 1.55%                 | No            | 2                  | On Loan: No      |
| Euronet Worldwide Inc                                     | Euronet Worldwide Inc                                                            | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Short            | EC               | CORP              | US        |      -34750 | NS      | $-3522955.00  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Learfield Communications, LLC                             | Learfield Communications LLC 2024 Term Loan B                                    | CUSIP: 00165HAL7<br>LEI: 549300177GK4LMS8T214 | Long             | LON              | CORP              | US        |     5349962 | PA      | $5380723.92   | 0.14%             | 2028-06-30      | Floating      | 8.83%                 | No            | 2                  | On Loan: No      |
| Penn Entertainment Inc                                    | Penn Entertainment Inc                                                           | CUSIP: 707569109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -45000 | NS      | $-804150.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.950055% 07/01/2039 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -200000 | OU      | $-10366.09    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bank OZK                                                  | Bank OZK                                                                         | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Short            | EC               | CORP              | US        |     -166418 | NS      | $-7831631.08  | -0.21%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT JAN27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $-28975.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD SGD/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-9136.16     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| BMO Mortgage Trust                                        | BMO 2025-5C9 Mortgage Trust                                                      | CUSIP: 096933AK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $83599.00     | 0.00%             | 2058-04-15      | Variable      | 2.20%                 | No            | 2                  | On Loan: No      |
| Canaan Inc                                                | Canaan Inc                                                                       | CUSIP: 134748102<br>LEI: 254900OEOGK9ALNMUN24 | Long             | EC               | CORP              | KY        |       36400 | NS      | $22506.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tokyo Lifestyle Co Ltd                                    | Tokyo Lifestyle Co Ltd                                                           | CUSIP: 98741L200<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |          10 | NS      | $37.80        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Starwood Mortgage Residential Trust                       | Starwood Mortgage Residential Trust 2022-1                                       | CUSIP: 85573TAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      135000 | PA      | $99307.76     | 0.00%             | 2066-12-25      | Variable      | 3.96%                 | No            | 2                  | On Loan: No      |
| Amylyx Pharmaceuticals Inc                                | Amylyx Pharmaceuticals Inc                                                       | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       12400 | NS      | $79484.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.8859% 02/28/2035 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -300000 | OU      | $4708.02      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Clean Energy Fuels Corp                                   | Clean Energy Fuels Corp                                                          | CUSIP: 184499101<br>LEI: 549300MTQB4VUAOPMF71 | Short            | EC               | CORP              | US        |       -3600 | NS      | $-7020.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | JPN YEN CURR FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         -79 | NC      | $-8862.50     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sun Life Financial Inc                                    | Sun Life Financial Inc                                                           | CUSIP: 866796105<br>LEI: 549300V040JZX5S66Z78 | Short            | EC               | CORP              | CA        |        -100 | NS      | $-6645.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NYSE Euronext Liffe                                       | EURIBOR 3MO (LIFFE) SEP 26                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |          85 | NC      | $-839.30      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | LME COPPER 03/04/26 12500C                                                       | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCO              |  | US        |        3739 | NC      | $366699.11    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Gambling.com Group Ltd                                    | Gambling.com Group Ltd                                                           | CUSIP: 000000000<br>LEI: 254900PUNXQ3N26IMU63 | Long             | EC               | CORP              | JE        |         100 | NS      | $1189.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Blueprint Medicines Corp                                  | Blueprint Medicines Corp                                                         | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Short            | EC               | CORP              | US        |        -500 | NS      | $-64090.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WaFd Inc                                                  | WaFd Inc                                                                         | CUSIP: 938824109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -33 | NS      | $-966.24      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.6655% 09/27/2029 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $1322.85      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Netflix Inc                                               | Netflix Inc                                                                      | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       11219 | NS      | $15023699.47  | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Algoma Steel Group Inc                                    | Algoma Steel Group Inc                                                           | CUSIP: 015658107<br>LEI: 549300Q5EU337A1XCX27 | Short            | EC               | CORP              | CA        |       -1700 | NS      | $-11713.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| VSE Corp                                                  | VSE Corp                                                                         | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Short            | EC               | CORP              | US        |        -100 | NS      | $-13098.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Orion Properties Inc                                      | Orion Properties Inc                                                             | CUSIP: 68629Y103<br>LEI: 254900ZBXYX11W8ZL437 | Short            | EC               |  | US        |       -1700 | NS      | $-3621.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Axcelis Technologies Inc                                  | Axcelis Technologies Inc                                                         | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Short            | EC               | CORP              | US        |        -400 | NS      | $-27876.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bit Origin Ltd                                            | Bit Origin Ltd                                                                   | CUSIP: 000000000<br>LEI: 549300MXMBF4HBZ76I76 | Short            | EC               | CORP              | KY        |       -1800 | NS      | $-284.40      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| PTC Inc                                                   | PTC Inc                                                                          | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-206808.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| SISECAM UK PLC                                            | Sisecam UK PLC                                                                   | CUSIP: 000000000<br>LEI: 789000T82YRLMLUOC889 | Short            | DBT              | CORP              | GB        |     -483000 | PA      | $-488783.44   | -0.01%            | 2029-05-02      | Fixed         | 8.25%                 | Yes           | 2                  | On Loan: No      |
| COLT Funding LLC                                          | COLT 2024-INV2 Mortgage Loan Trust                                               | CUSIP: 12622SAE1<br>LEI: 2138001M5YM45SK1QW14 | Long             | ABS-MBS          | CORP              | US        |     1816000 | PA      | $1826743.46   | 0.05%             | 2069-05-25      | Variable      | 8.12%                 | No            | 2                  | On Loan: No      |
| Amprius Technologies Inc                                  | Amprius Technologies Inc                                                         | CUSIP: 03214Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2700 | NS      | $11367.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ADMA Biologics Inc                                        | ADMA Biologics Inc                                                               | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       18600 | NS      | $338706.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Beauty Health Co/The                                      | Beauty Health Co/The                                                             | CUSIP: 88331L108<br>LEI: 5493001Z2JZQT4C63C50 | Short            | EC               | CORP              | US        |      -14700 | NS      | $-28077.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                        | Morgan Stanley Mortgage Loan Trust 2004-7AR                                      | CUSIP: 61748HCP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      243101 | PA      | $175089.79    | 0.00%             | 2034-09-25      | Variable      | 5.86%                 | No            | 2                  | On Loan: No      |
| Knightscope Inc                                           | Knightscope Inc                                                                  | CUSIP: 49907V201<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1544 | NS      | $-7627.36     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Resideo Technologies Inc                                  | Resideo Technologies Inc                                                         | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Short            | EC               | CORP              | US        |       -3200 | NS      | $-70592.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ladder Capital Corp                                       | Ladder Capital Corp                                                              | CUSIP: 505743104<br>LEI: 549300Q6LLV2QCV67C06 | Long             | EC               |  | US        |       10300 | NS      | $110725.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gray Media Inc                                            | Gray Media Inc                                                                   | CUSIP: 389375106<br>LEI: 529900TM5726KDN7UU35 | Short            | EC               | CORP              | US        |        -300 | NS      | $-1359.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.594% 04/07/2055 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $3891.26      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Fate Therapeutics Inc                                     | Fate Therapeutics Inc                                                            | CUSIP: 31189P102<br>LEI: 549300L14Q4UHOODLA90 | Long             | EC               | CORP              | US        |       12700 | NS      | $14224.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | ESTX 50 PR INDEX OTC 09/19/25 4971.35P                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | DE        |        4907 | NC      | $186171.62    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| SAMARCO MINERACAO SA                                      | Samarco Mineracao SA                                                             | CUSIP: 79588YAA7<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |     9038167 | PA      | $8885019.06   | 0.24%             | 2031-06-30      | Fixed         | 9.50%                 | No            | 2                  | On Loan: No      |
| Canadian Pacific Kansas City Ltd                          | Canadian Pacific Kansas City Ltd                                                 | CUSIP: 13646K108<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |      -48830 | NS      | $-3870754.10  | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| RR Ltd                                                    | RR 19 Ltd                                                                        | CUSIP: 74983BAJ0<br>LEI: 549300RJ4N2AJDFNE876 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $989593.00    | 0.03%             | 2040-04-15      | Floating      | 9.06%                 | No            | 2                  | On Loan: No      |
| American Superconductor Corp                              | American Superconductor Corp                                                     | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Short            | EC               | CORP              | US        |       -1700 | NS      | $-62373.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| INVO Fertility Inc                                        | INVO Fertility Inc                                                               | CUSIP: 44984F609<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -539 | NS      | $-474.32      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Precision Drilling Corp                                   | Precision Drilling Corp                                                          | CUSIP: 74022D407<br>LEI: 549300WF2OE8T5BP4B84 | Long             | EC               | CORP              | CA        |         600 | NS      | $28344.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pursuit Attractions and Hospitality Inc                   | Pursuit Attractions and Hospitality Inc                                          | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Short            | EC               | CORP              | US        |        -200 | NS      | $-5766.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Tompkins Financial Corp                                   | Tompkins Financial Corp                                                          | CUSIP: 890110109<br>LEI: 254900QDQ6V0QJ0Z2348 | Long             | EC               | CORP              | US        |         100 | NS      | $6273.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Trinitas CLO Ltd                                          | Trinitas CLO VI Ltd                                                              | CUSIP: 89641BAE3<br>LEI: 549300IUAXGLQ814UD95 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $940679.00    | 0.03%             | 2034-01-25      | Floating      | 11.36%                | No            | 2                  | On Loan: No      |
| QIAGEN NV                                                 | QIAGEN NV                                                                        | CUSIP: 000000000<br>LEI: 54930036WK3GMCN17Z57 | Short            | EC               | CORP              | NL        |       -5700 | NS      | $-273942.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Rocket Lab Corp                                           | Rocket Lab Corp                                                                  | CUSIP: 773121108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5400 | NS      | $-193158.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| The BAHA Trust                                            | BAHA Trust 2024-MAR                                                              | CUSIP: 05493XAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      166000 | PA      | $172376.39    | 0.00%             | 2041-12-10      | Variable      | 7.77%                 | No            | 2                  | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                     | Wells Fargo Commercial Mortgage Trust 2016-C32                                   | CUSIP: 94989YAJ2<br>LEI: 549300VOKB4Z9J8DIM89 | Long             | ABS-MBS          | CORP              | US        |      465000 | PA      | $447974.49    | 0.01%             | 2059-01-15      | Variable      | 3.79%                 | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (744) AUG 25                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |         -45 | NC      | $158573.90    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Exeter Automobile Receivables Trust                       | Exeter Automobile Receivables Trust 2024-1                                       | CUSIP: 30167PAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1426000 | PA      | $1494131.43   | 0.04%             | 2031-08-15      | Fixed         | 7.89%                 | No            | 2                  | On Loan: No      |
| Community Healthcare Trust Inc                            | Community Healthcare Trust Inc                                                   | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               |  | US        |        1900 | NS      | $31597.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Juniper Networks Inc                                      | Juniper Networks Inc                                                             | CUSIP: 48203R104<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | EC               | CORP              | US        |       67300 | NS      | $2687289.00   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SO USD_SOFR_R_3.21_20540823_20340823_LCH                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $137912.84    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Chile Government International Bonds                      | Chile Government International Bonds                                             | CUSIP: 168863EE4<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    13353000 | PA      | $13754925.30  | 0.37%             | 2037-01-13      | Fixed         | 5.65%                 | No            | 2                  | On Loan: No      |
| Intuitive Surgical Inc                                    | Intuitive Surgical Inc                                                           | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |        5201 | NS      | $2826275.41   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Cellular Corp                               | United States Cellular Corp                                                      | CUSIP: 911684108<br>LEI: 549300B164AZXESI6E03 | Short            | EC               | CORP              | US        |       -2000 | NS      | $-127940.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SFO Commerical Mortgage Trust                             | SFO Commercial Mortgage Trust 2021-555                                           | CUSIP: 78432WAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1001000 | PA      | $976446.47    | 0.03%             | 2038-05-15      | Floating      | 6.83%                 | No            | 2                  | On Loan: No      |
| IonQ Inc                                                  | IonQ Inc                                                                         | CUSIP: 46222L108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -47900 | NS      | $-2058263.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Turning Point Brands Inc                                  | Turning Point Brands Inc                                                         | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |         700 | NS      | $53039.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| HalseyPoint CLO Ltd.                                      | Halseypoint CLO 7 LTD                                                            | CUSIP: 40638MAA5<br>LEI: 5493000LI3XMVBCJEF82 | Long             | ABS-CBDO         | CORP              | JE        |     2880000 | PA      | $2869200.00   | 0.08%             | 2036-07-20      | Floating      | 13.05%                | No            | 2                  | On Loan: No      |
| NewtekOne Inc                                             | NewtekOne Inc                                                                    | CUSIP: 652526203<br>LEI: 549300YLU78IA8GKJ688 | Short            | EC               | CORP              | US        |      -42078 | NS      | $-474639.84   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS AUD 4.55505% 05/23/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | AU        |     -200000 | OU      | $4245.71      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.347% 07/29/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-2209.88     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.808% 10/25/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $2250.90      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Onity Group Inc                                           | Onity Group Inc                                                                  | CUSIP: 675746606<br>LEI: 549300DDD1YQ8EIAT278 | Long             | EC               | CORP              | US        |          94 | NS      | $3587.98      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN JAN 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-24360.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |     1083648 | PA      | $1083648.10   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                               | LME COPPER GS 03/04/26 12500C                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCO              |  | US        |        2917 | NC      | $286082.19    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| MKS Inc                                                   | MKS Inc                                                                          | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Short            | EC               | CORP              | US        |       -3800 | NS      | $-377568.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Vontier Corp                                              | Vontier Corp                                                                     | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Short            | EC               | CORP              | US        |       -2300 | NS      | $-84870.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| RAIZEN FUELS FINANCE                                      | Raizen Fuels Finance SA                                                          | CUSIP: 000000000<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |     5520000 | PA      | $5121061.32   | 0.14%             | 2054-03-05      | Fixed         | 6.95%                 | Yes           | 2                  | On Loan: No      |
| Accel Entertainment Inc                                   | Accel Entertainment Inc                                                          | CUSIP: 00436Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $3531.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Randstad Holding NV                                       | RANDSTAD HOLDING NV                                                              | CUSIP: 000000000<br>LEI: 7245009EAAUUQJ0U4T57 | Short            | EC               | CORP              | NL        |        -319 | NS      | $-14744.43    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 1.2397% 04/19/2028 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      700000 | OU      | $44798.08     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CURO GROUP HOLDINGS CORP                                  | Curo Group Holdings Corp 2024 PIK 2nd Out Term Loan                              | CUSIP: 000000000<br>LEI: 54930007KH8KCGJ4YE72 | Long             | LON              | CORP              | US        |     6130099 | PA      | $5455787.88   | 0.15%             | 2028-07-19      | Fixed         | 13.00%                | No            | 2                  | On Loan: No      |
| Energy Focus Inc                                          | Energy Focus Inc                                                                 | CUSIP: 29268T508<br>LEI: 549300WYLQHXWY3CWZ38 | Short            | EC               | CORP              | US        |          -7 | NS      | $-16.87       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/25 70P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         372 | NC      | $658490.00    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Delek US Holdings Inc                                     | Delek US Holdings Inc                                                            | CUSIP: 24665A103<br>LEI: 5493003O53JMENV1N385 | Short            | EC               | CORP              | US        |        -300 | NS      | $-6354.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Essent Group Ltd                                          | Essent Group Ltd                                                                 | CUSIP: 000000000<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |        1001 | NS      | $60790.73     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Hearthside Food Solutions LLC                             | HEARTHSIDE EQUITY                                                                | CUSIP: 000000000<br>LEI: 549300TYCJ0PCJ23SV84 | Long             | EC               | CORP              | US        |      215636 | NS      | $4118647.60   | 0.11%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD NOK/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-9935.74     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Curis Inc                                                 | Curis Inc                                                                        | CUSIP: 231269309<br>LEI: 5299000YO6CX4WMFVX06 | Long             | EC               | CORP              | US        |          95 | NS      | $220.40       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Outset Medical Inc                                        | Outset Medical Inc                                                               | CUSIP: 690145206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         366 | NS      | $7030.86      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PTL Ltd                                                   | PTL Ltd                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |           7 | NS      | $2.10         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Real Estate ETF                                  | Vanguard Real Estate ETF                                                         | CUSIP: 922908553<br>LEI: B1HNOZOSPCLXHIVBEI82 | Short            | EC               | RF                | US        |        -772 | NS      | $-68754.32    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-20CB                                                 | CUSIP: 02147MAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      683611 | PA      | $205861.10    | 0.01%             | 2036-07-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| Albemarle Corp                                            | Albemarle Corp                                                                   | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Short            | EC               | CORP              | US        |        -626 | NS      | $-39231.42    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Voya CLO Ltd                                              | Voya CLO 2018-3 Ltd                                                              | CUSIP: 92917LAA0<br>LEI: 54930068MLVF3BECCK93 | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1423609.50   | 0.04%             | 2031-10-15      | Floating      | 10.27%                | No            | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | PLAINS ALL AMER PIPELINE LP CFD                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     2069550 | OU      | $7938.00      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  APR26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-231697.36   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD CNH/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-51847.92    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT DEC27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $-14550.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cedar Funding Ltd                                         | Cedar Funding VI CLO Ltd                                                         | CUSIP: 15032DAX9<br>LEI: 549300PQ60B57EBTK013 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1003512.00   | 0.03%             | 2034-04-20      | Floating      | 7.84%                 | No            | 2                  | On Loan: No      |
| Rad CLO Ltd                                               | RAD CLO 28 Ltd                                                                   | CUSIP: 75009YAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $972686.00    | 0.03%             | 2038-04-20      | Floating      | 9.51%                 | No            | 2                  | On Loan: No      |
| Caris Life Sciences Inc                                   | Caris Life Sciences Inc                                                          | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               | CORP              | US        |       13302 | NS      | $355429.44    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| TELUS International CDA Inc                               | TELUS International CDA Inc                                                      | CUSIP: 87975H100<br>LEI: 549300VLM68O3RZJ7X31 | Long             | EC               | CORP              | CA        |         400 | NS      | $1452.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Peakstone Realty Trust                                    | Peakstone Realty Trust                                                           | CUSIP: 39818P799<br>LEI: 549300EZQXWQI2YL1T80 | Short            | EC               |  | US        |       -1500 | NS      | $-19815.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| First Advantage Corp                                      | First Advantage Corp                                                             | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Short            | EC               | CORP              | US        |       -2486 | NS      | $-41292.46    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER JUN 26 11500C                                                         | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          40 | NC      | $265790.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.288% 02/04/2030 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |     -800000 | OU      | $8494.66      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Exeter Automobile Receivables Trust                       | Exeter Automobile Receivables Trust 2024-5                                       | CUSIP: 30165BAH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1414000 | PA      | $1423780.64   | 0.04%             | 2032-05-17      | Fixed         | 7.22%                 | No            | 2                  | On Loan: No      |
| Mastercard Inc                                            | Mastercard Inc                                                                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       23800 | NS      | $13374172.00  | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.999% 08/24/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -975000 | OU      | $-12538.90    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Sequoia Mortgage Trust                                    | Sequoia Mortgage Trust 2019-4                                                    | CUSIP: 81748JCE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2158000 | PA      | $1519754.24   | 0.04%             | 2049-11-25      | Variable      | 3.78%                 | No            | 2                  | On Loan: No      |
| ASX Clear (Futures)                                       | SPI 200 FUTURES   Sep25                                                          | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DE               |  | AU        |          34 | NC      | $-4294.43     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Revolve Group Inc                                         | Revolve Group Inc                                                                | CUSIP: 76156B107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-4010.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Anchorage Capital CLO LTD                                 | Anchorage Capital CLO 26 Ltd                                                     | CUSIP: 03331TAY6<br>LEI: 5493004K3H2URWHGJT03 | Long             | ABS-CBDO         | CORP              | KY        |      500000 | PA      | $499033.00    | 0.01%             | 2038-03-19      | Floating      | 9.04%                 | No            | 2                  | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                                  | Provincia de Buenos Aires/Government Bonds                                       | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |     2956405 | PA      | $2121220.38   | 0.06%             | 2037-09-01      | Fixed         | 6.63%                 | Yes           | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |      365815 | PA      | $365814.75    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Republic Services Inc                                     | Republic Services Inc                                                            | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |         200 | NS      | $49322.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Deutsche Bank AG                                          | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Short            | EC               | CORP              | DE        |      -36500 | NS      | $-1068720.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Ellington Financial Inc                                   | Ellington Financial Inc                                                          | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               |  | US        |          12 | NS      | $155.88       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| QVC Group Inc                                             | QVC Group Inc                                                                    | CUSIP: 74915M605<br>LEI: 549300PSXEKU4PHLCR04 | Long             | EC               | CORP              | US        |        1392 | NS      | $3828.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AT&T Inc                                                  | AT&T Inc                                                                         | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |        9914 | NS      | $286911.16    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Phathom Pharmaceuticals Inc                               | Phathom Pharmaceuticals Inc                                                      | CUSIP: 71722W107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5400 | NS      | $-51786.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CPC Acquisition Corp                                      | CPC Acquisition Corp Term Loan                                                   | CUSIP: 12656UAB1<br>LEI: 254900UFA4AMH3PZZW32 | Long             | LON              | CORP              | US        |     4420169 | PA      | $3845547.41   | 0.10%             | 2027-12-29      | Floating      | 8.31%                 | No            | 2                  | On Loan: No      |
| Scholar Rock Holding Corp                                 | Scholar Rock Holding Corp                                                        | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Short            | EC               | CORP              | US        |        -600 | NS      | $-21252.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | CSIN0852 INDEX USD                                                               | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |    37650151 | OU      | $1874988.03   | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| First Community Corp/SC                                   | First Community Corp/SC                                                          | CUSIP: 319835104<br>LEI: 549300TC167ECI9SMC70 | Long             | EC               | CORP              | US        |        1300 | NS      | $31694.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Old Republic International Corp                           | Old Republic International Corp                                                  | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Short            | EC               | CORP              | US        |       -1149 | NS      | $-44167.56    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WSFS Financial Corp                                       | WSFS Financial Corp                                                              | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-60500.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New Oriental Education & Technology Group Inc             | New Oriental Education & Technology Group Inc                                    | CUSIP: 647581206<br>LEI: 529900NHZVBZQZ8EKN29 | Long             | EC               | CORP              | KY        |          10 | NS      | $539.50       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Starwood Mortgage Residential Trust                       | Starwood Mortgage Residential Trust 2021-4                                       | CUSIP: 85573PAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      268000 | PA      | $213397.68    | 0.01%             | 2056-08-25      | Variable      | 4.14%                 | No            | 2                  | On Loan: No      |
| Catalyst Pharmaceuticals Inc                              | Catalyst Pharmaceuticals Inc                                                     | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Short            | EC               | CORP              | US        |       -4700 | NS      | $-101990.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Amer Sports Inc                                           | Amer Sports Inc                                                                  | CUSIP: 000000000<br>LEI: 391200YCSWTRD1J21867 | Long             | EC               | CORP              | KY        |       72551 | NS      | $2812076.76   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Amerant Bancorp Inc                                       | Amerant Bancorp Inc                                                              | CUSIP: 023576101<br>LEI: 54930071V6LIG79MTL10 | Long             | EC               | CORP              | US        |        2000 | NS      | $36460.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Aramark                                                   | Aramark                                                                          | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Short            | EC               | CORP              | US        |      -22800 | NS      | $-954636.00   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | REPSOL YPF SA CFD                                                                | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | ES        |      417300 | OU      | $-16200.76    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Washington Trust Bancorp Inc                              | Washington Trust Bancorp Inc                                                     | CUSIP: 940610108<br>LEI: J66MZFCNJPP3PERHZW54 | Short            | EC               | CORP              | US        |      -15186 | NS      | $-429460.08   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Hudson Pacific Properties Inc                             | Hudson Pacific Properties Inc                                                    | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               |  | US        |        3700 | NS      | $10138.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Larimar Therapeutics Inc                                  | Larimar Therapeutics Inc                                                         | CUSIP: 517125100<br>LEI: 529900NCBZHTTJV6HX73 | Long             | EC               | CORP              | US        |       15233 | NS      | $44023.37     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| HarborView Mortgage Loan Trust                            | HarborView Mortgage Loan Trust 2007-6                                            | CUSIP: 41165BAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     7027053 | PA      | $5691561.25   | 0.15%             | 2037-08-19      | Floating      | 4.66%                 | No            | 2                  | On Loan: No      |
| Broadcom Inc                                              | Broadcom Inc                                                                     | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |        1920 | NS      | $529248.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.553047% 02/22/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $-21171.86    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.193% 10/13/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-16.65       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| ARES CLO Ltd                                              | Ares Loan Funding IV Ltd                                                         | CUSIP: 04020FAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $1003255.00   | 0.03%             | 2036-10-15      | Floating      | 8.94%                 | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2005-28CB                                                 | CUSIP: 12667GYG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1588285 | PA      | $881118.62    | 0.02%             | 2035-08-25      | Floating      | 4.83%                 | No            | 2                  | On Loan: No      |
| Workhorse Group Inc                                       | Workhorse Group Inc                                                              | CUSIP: 98138J404<br>LEI: 5493006JUAG258V8X854 | Short            | EC               | CORP              | US        |          -1 | NS      | $-1.10        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | BOUGHT BRL/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | BR        |           1 | NC      | $198770.36    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| NexPoint Diversified Real Estate Trust                    | NexPoint Diversified Real Estate Trust                                           | CUSIP: 65340G205<br>LEI: 5493008KGR2NU3OXMR64 | Short            | EC               |  | US        |        -343 | NS      | $-1437.17     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD TWD/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-20560.90    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.324% 09/22/2037 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     2800000 | OU      | $172427.22    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Bank of America Corp                                      | Bank of America Corp                                                             | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      162902 | NS      | $7708522.64   | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Buy SDBC SNRFOR USD 100 Dec 2027 MORG_ISDA 1%                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              |  | CN        |     3600000 | OU      | $-66422.08    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| BioLife Solutions Inc                                     | BioLife Solutions Inc                                                            | CUSIP: 09062W204<br>LEI: 549300G2IVCMC2TJDW72 | Short            | EC               | CORP              | US        |       -2400 | NS      | $-51696.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CDW Corp/DE                                               | CDW Corp/DE                                                                      | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Short            | EC               | CORP              | US        |        -300 | NS      | $-53577.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Veritone Inc                                              | Veritone Inc                                                                     | CUSIP: 92347M100<br>LEI: 549300XTAS2FCSL4EL89 | Short            | EC               | CORP              | US        |        -500 | NS      | $-630.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Remitly Global Inc                                        | Remitly Global Inc                                                               | CUSIP: 75960P104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -14800 | NS      | $-277796.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | C$ CURRENCY FUT   Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         106 | NC      | $-13162.90    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Wartsila OYJ Abp                                          | Wartsila OYJ Abp                                                                 | CUSIP: 000000000<br>LEI: 743700G7A9J1PHM3X223 | Short            | EC               | CORP              | FI        |       -1410 | NS      | $-33324.45    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      475747 | PA      | $475746.63    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-4064.93     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| AZUL SECURED FINANCE LLP                                  | Azul Secured Finance LLP                                                         | CUSIP: 05501WAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     2385785 | PA      | $47715.70     | 0.00%             | 2029-08-28      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Sigma Lithium Corp                                        | Sigma Lithium Corp                                                               | CUSIP: 826599102<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |      -23200 | NS      | $-104400.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MediaAlpha Inc                                            | MediaAlpha Inc                                                                   | CUSIP: 58450V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         800 | NS      | $8760.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Schneider National Inc                                    | Schneider National Inc                                                           | CUSIP: 80689H102<br>LEI: 529900V6GZ6G6E3BLV72 | Long             | EC               | CORP              | US        |        1600 | NS      | $38640.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SolarEdge Technologies Inc                                | SolarEdge Technologies Inc                                                       | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |       14100 | NS      | $287640.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Zoetis Inc                                                | Zoetis Inc                                                                       | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Short            | EC               | CORP              | US        |       -1500 | NS      | $-233925.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Franklin Covey Co                                         | Franklin Covey Co                                                                | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         600 | NS      | $13692.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| HarborOne Bancorp Inc                                     | HarborOne Bancorp Inc                                                            | CUSIP: 41165Y100<br>LEI: 549300CNOEY2QUB7F917 | Long             | EC               | CORP              | US        |         500 | NS      | $5840.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     9400000 | OU      | $230741.28    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Third Coast Bancshares Inc                                | Third Coast Bancshares Inc                                                       | CUSIP: 88422P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $3267.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JAN 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          92 | NC      | $-123058.36   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-J2                                                   | CUSIP: 12668BTD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      588057 | PA      | $224956.54    | 0.01%             | 2036-04-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| Liberty Broadband Corp                                    | Liberty Broadband Corp                                                           | CUSIP: 530307305<br>LEI: 549300MIX43II8JLN536 | Short            | EC               | CORP              | US        |      -25700 | NS      | $-2528366.00  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc                        | Mitsubishi UFJ Financial Group Inc                                               | CUSIP: 606822104<br>LEI: 353800V2V8PUY9TK3E06 | Short            | EC               | CORP              | JP        |      -69600 | NS      | $-954912.00   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| MICROSTRATEGY INC                                         | MicroStrategy Inc                                                                | CUSIP: 594972AT8<br>LEI: 549300WQTWEJUEHXQX21 | Long             | DBT              | CORP              | US        |      700000 | PA      | $819956.47    | 0.02%             | 2030-03-01      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| Atlas Energy Solutions Inc                                | Atlas Energy Solutions Inc                                                       | CUSIP: 642045108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4200 | NS      | $-56154.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| InfuSystem Holdings Inc                                   | InfuSystem Holdings Inc                                                          | CUSIP: 45685K102<br>LEI: 549300F58N8PHJ4QUI59 | Long             | EC               | CORP              | US        |         500 | NS      | $3120.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tuya Inc                                                  | Tuya Inc                                                                         | CUSIP: 90114C107<br>LEI: 254900XKWS2MIZHXCO08 | Long             | EC               | CORP              | KY        |        9700 | NS      | $22407.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dakota Gold Corp                                          | Dakota Gold Corp                                                                 | CUSIP: 46655E100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1500 | NS      | $5535.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS OCT 25                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -99 | NC      | $698163.28    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| HEICO Corp                                                | HEICO Corp                                                                       | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |        4200 | NS      | $1377600.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| SoFi Technologies Inc                                     | SoFi Technologies Inc                                                            | CUSIP: 83406F102<br>LEI: 549300SW81JCMVZDDY09 | Long             | EC               | CORP              | US        |       76500 | NS      | $1393065.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| CN Energy Group Inc                                       | CN Energy Group Inc                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |           2 | NS      | $5.42         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | SOUSD_SOFR_P_6.0_20261007_20251007_LCH                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |     8250000 | NC      | $0.02         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  AUG27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $26487.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Mortgage Trust                                  | JP Morgan Mortgage Trust 2005-A5                                                 | CUSIP: 466247SS3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      561144 | PA      | $430089.09    | 0.01%             | 2035-08-25      | Variable      | 5.39%                 | No            | 2                  | On Loan: No      |
| Delta Air Lines Inc                                       | Delta Air Lines Inc                                                              | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Short            | EC               | CORP              | US        |        -922 | NS      | $-45343.96    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ideaya Biosciences Inc                                    | Ideaya Biosciences Inc                                                           | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |        6300 | NS      | $132426.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Butterfly Network Inc                                     | Butterfly Network Inc                                                            | CUSIP: 124155102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3100 | NS      | $6200.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SLR Investment Corp                                       | SLR Investment Corp                                                              | CUSIP: 83413U100<br>LEI: BJOT6DX9ML6BR3Z0O636 | Long             | EC               | CORP              | US        |        5100 | NS      | $82314.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS SWAP OCT 25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -28 | NC      | $22350.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2004-22CB                                                 | CUSIP: 12667FSC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      355685 | PA      | $247438.68    | 0.01%             | 2034-10-25      | Variable      | 6.00%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | LEAN HOGS (40000) AUG 25                                                         | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |         120 | NC      | $-109392.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Norwegian Cruise Line Holdings Ltd                        | Norwegian Cruise Line Holdings Ltd                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |        9900 | NS      | $200772.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Veritex Holdings Inc                                      | Veritex Holdings Inc                                                             | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |        6788 | NS      | $177166.80    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT NOK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | NO        |           1 | NC      | $0.01         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| PC Connection Inc                                         | PC Connection Inc                                                                | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |         100 | NS      | $6578.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT PHP/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | PH        |           1 | NC      | $-2182.90     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| SAP SE                                                    | SAP SE                                                                           | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Short            | EC               | CORP              | DE        |       -9900 | NS      | $-3010590.00  | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| Snap Inc                                                  | Snap Inc                                                                         | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | EC               | CORP              | US        |      162000 | NS      | $1407780.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | QUANTA COMPUTER INC CFD (USD)                                                    | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | TW        |     -184698 | OU      | $1273.92      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LUXFER HOLDINGS PLC ADR                                   | LUXFER HOLDINGS PLC ADR                                                          | CUSIP: 550678106<br>LEI: 21380045UF5SJYZOXE41 | Long             | EC               | CORP              | GB        |        2300 | NS      | $28014.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CoreVest American Finance Ltd                             | Corevest American Finance 2020-4 Trust                                           | CUSIP: 21873AAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $52023.00     | 0.00%             | 2052-12-15      | Variable      | 2.91%                 | No            | 2                  | On Loan: No      |
| Community Trust Bancorp Inc                               | Community Trust Bancorp Inc                                                      | CUSIP: 204149108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $21168.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Monroe Capital Corp                                       | Monroe Capital Corp                                                              | CUSIP: 610335101<br>LEI: 549300RZ898DGFGWKV04 | Long             | EC               | CORP              | US        |        1200 | NS      | $7632.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS DEC 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-117340.71   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Palladyne AI Corp                                         | Palladyne AI Corp                                                                | CUSIP: 80359A205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          33 | NS      | $285.78       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Global Tel*Link Corporation                               | Global Tel*Link Corporation 2024 Term Loan                                       | CUSIP: 37959JAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1451271 | PA      | $1429501.71   | 0.04%             | 2029-08-06      | Floating      | 11.83%                | No            | 2                  | On Loan: No      |
| John Wiley & Sons Inc                                     | John Wiley & Sons Inc                                                            | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-71408.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hormel Foods Corp                                         | Hormel Foods Corp                                                                | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |        7900 | NS      | $238975.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FQKF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1000000 | PA      | $72453.00     | 0.00%             | 2046-12-25      | Variable      | 1.96%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs International                               | Buy MEXICO SNRFOR USD 100 Jun 2030 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | MX        |    11800000 | OU      | $35984.45     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Eagle Bancorp Inc                                         | Eagle Bancorp Inc                                                                | CUSIP: 268948106<br>LEI: 549300B47NZODRMG3D47 | Long             | EC               | CORP              | US        |       36397 | NS      | $709013.56    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo Home Equity Trust                             | Wells Fargo Home Equity Asset-Backed Securities 2005-4 Trust                     | CUSIP: 9497EUAN7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     3132649 | PA      | $3146397.82   | 0.08%             | 2036-05-25      | Floating      | 5.11%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | GS JAPAN PHARM .GSPB.CFD (GSGAPHRM)                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | JP        |   -92049373 | OU      | $-3404.98     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Northern Oil & Gas Inc                                    | Northern Oil & Gas Inc                                                           | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Short            | EC               | CORP              | US        |      -10400 | NS      | $-294840.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| DOMINICAN REPUBLIC                                        | Dominican Republic International Bonds                                           | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Short            | DBT              | NUSS              | DO        |     -961000 | PA      | $-947930.40   | -0.03%            | 2033-02-22      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| Opendoor Technologies Inc                                 | Opendoor Technologies Inc                                                        | CUSIP: 683712103<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | EC               | CORP              | US        |      168900 | NS      | $90023.70     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS              | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-AR1 Trust | CUSIP: 93934FHD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      240841 | PA      | $261187.92    | 0.01%             | 2035-12-25      | Floating      | 5.11%                 | No            | 2                  | On Loan: No      |
| Novo Nordisk A/S                                          | Novo Nordisk A/S                                                                 | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Short            | EC               | CORP              | DK        |      -33699 | NS      | $-2325904.98  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| National Grid PLC                                         | National Grid PLC                                                                | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Short            | EC               | CORP              | GB        |       -3800 | NS      | $-282758.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| GSK PLC                                                   | GSK PLC                                                                          | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Short            | EC               | CORP              | GB        |      -11396 | NS      | $-437606.40   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | NVIDIA CORP OTC 01/16/26 160C                                                    | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |          45 | NC      | $91778.04     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Tesla Inc                                                 | Tesla Inc                                                                        | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |         100 | NS      | $31766.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT SEP 25 3.75P                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -513 | NC      | $-2440341.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.0986% 10/07/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $1310.90      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Thor Industries Inc                                       | Thor Industries Inc                                                              | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Short            | EC               | CORP              | US        |        -500 | NS      | $-44405.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137F6TU1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    14765971 | PA      | $2925316.10   | 0.08%             | 2048-06-25      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Heritage Financial Corp/WA                                | Heritage Financial Corp/WA                                                       | CUSIP: 42722X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1500 | NS      | $35760.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Benchmark 2024-V8 Mortgage Trust                          | Benchmark 2024-V8 Mortgage Trust                                                 | CUSIP: 08190AAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $101613.00    | 0.00%             | 2057-07-15      | Variable      | 3.18%                 | No            | 2                  | On Loan: No      |
| ConocoPhillips                                            | ConocoPhillips                                                                   | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Short            | EC               | CORP              | US        |        -333 | NS      | $-29883.42    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy QATAR SNRFOR USD 100 Jun 2029 GOLD_ISDA 1%                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | QA        |    13000000 | OU      | $-356614.95   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT NOV27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          28 | NC      | $18830.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS JPY 0.689% 09/07/2028 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | JP        |  1700000000 | OU      | $54467.92     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| TKC HOLDINGS INC                                          | TKC Holdings Inc 2024 Term Loan                                                  | CUSIP: 87256FAJ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     1195168 | PA      | $1194175.91   | 0.03%             | 2028-05-15      | Floating      | 9.32%                 | No            | 3                  | On Loan: No      |
| Galapagos NV                                              | Galapagos NV                                                                     | CUSIP: 36315X101<br>LEI: 549300QKJ78IY0IOV655 | Short            | EC               | CORP              | BE        |        -400 | NS      | $-11196.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT  NOV25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -58 | NC      | $5875.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Standard Lithium Ltd                                      | Standard Lithium Ltd                                                             | CUSIP: 853606101<br>LEI: 549300LA4BSHAKT4SL33 | Short            | EC               | CORP              | CA        |      -22200 | NS      | $-43512.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MidOcean Credit CLO                                       | MidOcean Credit CLO XIX                                                          | CUSIP: 59803JAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1000000.00   | 0.03%             | 2036-07-20      | Floating      | 10.57%                | No            | 2                  | On Loan: No      |
| NMI Holdings Inc                                          | NMI Holdings Inc                                                                 | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |        1300 | NS      | $54847.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER JUL 25 9500P                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         -20 | NC      | $-6755.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Complete Solaria Inc                                      | Complete Solaria Inc                                                             | CUSIP: 20460L104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5972 | NS      | $-10988.48    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AEOLUS CAT KEYSTNE PF FND J20                             | AEOLUS CAT KEYSTNE PF FND J20 HEDGE FUND                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |           1 | NS      | $233704.64    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT MAY 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $83600.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| IHS Holding Ltd                                           | IHS Holding Ltd                                                                  | CUSIP: 000000000<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     1533000 | PA      | $1505726.38   | 0.04%             | 2026-11-29      | Fixed         | 5.63%                 | Yes           | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 MAR 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $2680.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MF GLOBAL HLDGS LTD                                       | MF Global Holdings Ltd                                                           | CUSIP: 55277JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      436000 | PA      | $101370.00    | 0.00%             | 2016-08-08      | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | FTSE Taiwan Index Jul25                                                          | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DE               |  | SG        |         -25 | NC      | $-3250.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SO USD_SOFR_R_3.225_20540825_20340825_LCH                                        | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $139353.31    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Lakeland Industries Inc                                   | Lakeland Industries Inc                                                          | CUSIP: 511795106<br>LEI: 549300HGP70IM9WKU164 | Short            | EC               | CORP              | US        |        -200 | NS      | $-2722.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SOUSD_SOFR_R_3.265_20540818_20340818_LCH                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $143091.19    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| ACM Research Inc                                          | ACM Research Inc                                                                 | CUSIP: 00108J109<br>LEI: 549300MCTENUWL2GJL61 | Short            | EC               | CORP              | US        |       -1900 | NS      | $-49210.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| UBS Commercial Mortgage Trust                             | UBS Commercial Mortgage Trust 2018-C11                                           | CUSIP: 90276XAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      112000 | PA      | $77868.89     | 0.00%             | 2051-06-15      | Variable      | 3.00%                 | No            | 2                  | On Loan: No      |
| Rollins Inc                                               | Rollins Inc                                                                      | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Short            | EC               | CORP              | US        |        -400 | NS      | $-22568.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| International Flavors & Fragrances Inc                    | International Flavors & Fragrances Inc                                           | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Short            | EC               | CORP              | US        |      -14100 | NS      | $-1037055.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD NOK/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-4065.77     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 3.065% 03/26/2040 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -1900000 | OU      | $10715.93     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Cosmos Health Inc                                         | Cosmos Health Inc                                                                | CUSIP: 221413305<br>LEI: 549300NN5KFIEHPECJ85 | Long             | EC               | CORP              | US        |          47 | NS      | $19.74        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ballyrock Ltd                                             | Ballyrock CLO 19 Ltd                                                             | CUSIP: 05874WAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1350000 | PA      | $1351035.45   | 0.04%             | 2035-04-20      | Floating      | 7.77%                 | No            | 2                  | On Loan: No      |
| GCT Semiconductor Holding Inc                             | GCT Semiconductor Holding Inc                                                    | CUSIP: 36170N107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2700 | NS      | $-4023.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS SEP 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           4 | NC      | $-6990.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Consensus Cloud Solutions Inc                             | Consensus Cloud Solutions Inc                                                    | CUSIP: 20848V105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-9224.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Reddit Inc                                                | Reddit Inc                                                                       | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       30600 | NS      | $4607442.00   | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1274223 | PA      | $1274223.30   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Mister Car Wash Inc                                       | Mister Car Wash Inc                                                              | CUSIP: 60646V105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3000 | NS      | $-18030.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Immunic Inc                                               | Immunic Inc                                                                      | CUSIP: 4525EP101<br>LEI: 549300R5T12FW5MEQB20 | Short            | EC               | CORP              | US        |       -8300 | NS      | $-5789.30     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Home Depot Inc/The                                        | Home Depot Inc/The                                                               | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |        2717 | NS      | $996160.88    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Alterity Therapeutics ltd                                 | Alterity Therapeutics ltd                                                        | CUSIP: 02155X205<br>LEI: 52990045JUZVZ9QL3159 | Short            | EC               | CORP              | AU        |         -10 | NS      | $-41.00       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy Traxx Europe Xover Series 43 EUR 500 Jun 2030                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     5400000 | OU      | $-601999.73   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| BuzzFeed Inc                                              | BuzzFeed Inc                                                                     | CUSIP: 12430A300<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -277 | NS      | $-554.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Roadzen Inc                                               | Roadzen Inc                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | VG        |       -1100 | NS      | $-1078.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | CALLODINE MS ALPHASWAP MF SWAP                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |    99014300 | OU      | $-665401.00   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN NOV 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-11550.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Titan Machinery Inc                                       | Titan Machinery Inc                                                              | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |        1600 | NS      | $31696.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |      627259 | PA      | $627258.63    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT TWD/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | TW        |           1 | NC      | $-10917.92    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Okta Inc                                                  | Okta Inc                                                                         | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Short            | EC               | CORP              | US        |       -5500 | NS      | $-549835.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Aris Mining Corp                                          | Aris Mining Corp                                                                 | CUSIP: 04040Y109<br>LEI: 5493001GJ5TILX6L1F82 | Long             | EC               | CORP              | CA        |        2100 | NS      | $14112.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS MAY 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -53 | NC      | $542400.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT JUN 28                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -37 | NC      | $-29875.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ECARX Holdings Inc                                        | ECARX Holdings Inc                                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |         -47 | NS      | $-96.35       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.225997% 02/26/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |    -1400000 | OU      | $-16863.80    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD HKD/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $123.86       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | BRENT FIN LAST DA SEP 25                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          30 | NC      | $170250.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | BIRKENSTOCK HOLDING PLC CFD                                                      | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JE        |    -1315036 | OU      | $6651.00      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.54% 06/05/2030 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    10000000 | OU      | $-20269.71    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Tradeweb Markets Inc                                      | Tradeweb Markets Inc                                                             | CUSIP: 892672106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -25280 | NS      | $-3700992.00  | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| York Water Co/The                                         | York Water Co/The                                                                | CUSIP: 987184108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $15800.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                   | WaMu Mortgage Pass-Through Certificates Series 2006-AR17 Trust                   | CUSIP: 92925DAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1170570 | PA      | $979133.96    | 0.03%             | 2046-12-25      | Floating      | 4.07%                 | No            | 2                  | On Loan: No      |
| Canadian Pacific Kansas City Ltd                          | Canadian Pacific Kansas City Ltd                                                 | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      140000 | NS      | $11097800.00  | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| UFP Industries Inc                                        | UFP Industries Inc                                                               | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Short            | EC               | CORP              | US        |        -400 | NS      | $-39744.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Replimune Group Inc                                       | Replimune Group Inc                                                              | CUSIP: 76029N106<br>LEI: 549300AY704NEIRC4K64 | Long             | EC               | CORP              | US        |         100 | NS      | $929.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Residential Asset Securitization Trust                    | Residential Asset Securitization Trust 2006-A7CB                                 | CUSIP: 76113NAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      300835 | PA      | $237580.11    | 0.01%             | 2036-07-25      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| Immunocore Holdings PLC                                   | Immunocore Holdings PLC                                                          | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |        6500 | NS      | $203970.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Intel Corp                                                | Intel Corp                                                                       | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |         900 | NS      | $20160.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gartner Inc                                               | Gartner Inc                                                                      | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Short            | EC               | CORP              | US        |        -222 | NS      | $-89736.84    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lightwave Logic Inc                                       | Lightwave Logic Inc                                                              | CUSIP: 532275104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -6500 | NS      | $-8060.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.6955% 09/21/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -100000 | OU      | $-18185.03    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| WD-40 Co                                                  | WD-40 Co                                                                         | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |         300 | NS      | $68427.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| National HealthCare Corp                                  | National HealthCare Corp                                                         | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |         400 | NS      | $42804.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Medpace Holdings Inc                                      | Medpace Holdings Inc                                                             | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |        3500 | NS      | $1098510.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | SOYBEAN OIL OPTIONS DEC 25 50C                                                   | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DCO              |  | US        |          31 | NC      | $101835.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                              | CUSIP: 706451BG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     2800000 | PA      | $2359781.06   | 0.06%             | 2035-06-15      | Fixed         | 6.63%                 | No            | 2                  | On Loan: No      |
| Griffon Corp                                              | Griffon Corp                                                                     | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |        1600 | NS      | $115792.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | MICRON TECHNOLOGY INC CFD                                                        | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |     -347806 | OU      | $-3333.33     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT DEC 29                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |          -2 | NC      | $-50.00       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Flutter Entertainment PLC                                 | Flutter Entertainment PLC                                                        | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Short            | EC               | CORP              | IE        |      -11900 | NS      | $-3400544.00  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Green Dot Corp                                            | Green Dot Corp                                                                   | CUSIP: 39304D102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       11800 | NS      | $127204.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.24755% 05/06/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-8513.13     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Carlyle Secured Lending Inc                               | Carlyle Secured Lending Inc                                                      | CUSIP: 872280102<br>LEI: 5493003POT0JT6WD1D83 | Long             | EC               | CORP              | US        |         400 | NS      | $5472.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| 3M Co                                                     | 3M Co                                                                            | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Short            | EC               | CORP              | US        |       -9600 | NS      | $-1461504.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Performance Food Group Co                                 | Performance Food Group Co                                                        | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Short            | EC               | CORP              | US        |      -27800 | NS      | $-2431666.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Women's Care Enterprises LLC                              | Women's Care Enterprises LLC Term Loan                                           | CUSIP: 97815UAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     2961204 | PA      | $2709501.52   | 0.07%             | 2028-01-15      | Floating      | 8.88%                 | No            | 2                  | On Loan: No      |
| Innospec Inc                                              | Innospec Inc                                                                     | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |         100 | NS      | $8409.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Arrow Financial Corp                                      | Arrow Financial Corp                                                             | CUSIP: 042744102<br>LEI: 2549007Z8GI9ZZIQ1817 | Long             | EC               | CORP              | US        |         522 | NS      | $13791.24     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  OCT26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-785077.36   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Washington Trust Bancorp Inc                              | Washington Trust Bancorp Inc                                                     | CUSIP: 940610108<br>LEI: J66MZFCNJPP3PERHZW54 | Long             | EC               | CORP              | US        |         600 | NS      | $16968.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE VIX FUTURE AUG 25                                                           | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |          79 | NC      | $-165552.53   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ShiftPixy Inc                                             | ShiftPixy Inc                                                                    | CUSIP: 82452L500<br>LEI: 5299000XGQMB6TK04R72 | Long             | EC               | CORP              | US        |           1 | NS      | $6.53         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Genius Group Ltd                                          | Genius Group Ltd                                                                 | CUSIP: 000000000<br>LEI: 984500CX4CD4Q6N5ZC11 | Short            | EC               | CORP              | SG        |      -23292 | NS      | $-31677.12    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Northann Corp                                             | Northann Corp                                                                    | CUSIP: 66373M200<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -11379 | NS      | $-1820.64     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      541607 | PA      | $541607.10    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Protagonist Therapeutics Inc                              | Protagonist Therapeutics Inc                                                     | CUSIP: 74366E102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -13600 | NS      | $-751672.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Life360 Inc                                               | Life360 Inc                                                                      | CUSIP: 532206109<br>LEI: 254900VO9VDOQBQAHF07 | Short            | EC               | CORP              | US        |       -1800 | NS      | $-117450.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Pernod Ricard SA                                          | Pernod Ricard SA                                                                 | CUSIP: 000000000<br>LEI: 52990097YFPX9J0H5D87 | Short            | EC               | CORP              | FR        |        -470 | NS      | $-46883.12    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Civista Bancshares Inc                                    | Civista Bancshares Inc                                                           | CUSIP: 178867107<br>LEI: 5493001LX61Z2UVYSC48 | Long             | EC               | CORP              | US        |         100 | NS      | $2320.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | HEIWA REAL ESTATE REIT INC CFD                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Babson CLO Ltd                                            | Barings CLO Ltd 2019-III                                                         | CUSIP: 06761PAG5<br>LEI: 549300T40QLO0VJIOB35 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $988301.00    | 0.03%             | 2036-01-20      | Floating      | 10.12%                | No            | 2                  | On Loan: No      |
| Cencora Inc                                               | Cencora Inc                                                                      | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Short            | EC               | CORP              | US        |        -241 | NS      | $-72263.85    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA9                                                  | CUSIP: 02146YAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      572872 | PA      | $466087.30    | 0.01%             | 2046-07-20      | Floating      | 4.85%                 | No            | 2                  | On Loan: No      |
| FTC Solar Inc                                             | FTC Solar Inc                                                                    | CUSIP: 30320C103<br>LEI: 5493009MODNZ2HMPX761 | Long             | EC               | CORP              | US        |           0 | NS      | $164.16       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Peapack-Gladstone Financial Corp                          | Peapack-Gladstone Financial Corp                                                 | CUSIP: 704699107<br>LEI: 549300G8DN2UK8K0ET30 | Long             | EC               | CORP              | US        |         600 | NS      | $16950.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | WHEAT (5000) DEC 25                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       -1204 | NC      | $785631.30    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Arqit Quantum Inc                                         | Arqit Quantum Inc                                                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |         -10 | NS      | $-370.30      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.72725% 09/25/2054 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -100000 | OU      | $-17430.31    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Leap Therapeutics Inc                                     | Leap Therapeutics Inc                                                            | CUSIP: 52187K200<br>LEI: 549300T31SMMJ2DDLI13 | Long             | EC               | CORP              | US        |         500 | NS      | $148.45       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Liquidia Corp                                             | Liquidia Corp                                                                    | CUSIP: 53635D202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6100 | NS      | $76006.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| KKR Financial CLO Ltd                                     | KKR CLO 60 Ltd                                                                   | CUSIP: 49835NAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1001916.00   | 0.03%             | 2038-01-15      | Floating      | 10.36%                | No            | 2                  | On Loan: No      |
| IGM Biosciences Inc                                       | IGM Biosciences Inc                                                              | CUSIP: 449585108<br>LEI: 5493008XCQES2N0VY969 | Long             | EC               | CORP              | US        |        1900 | NS      | $2128.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.8564% 06/27/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -200000 | OU      | $-10779.10    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.46675% 10/21/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-5302.37     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| SailPoint Inc                                             | SailPoint Inc                                                                    | CUSIP: 78781J109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4523 | NS      | $-103395.78   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Trilogy Metals Inc                                        | Trilogy Metals Inc                                                               | CUSIP: 89621C105<br>LEI: 52990084YC9OR0TUH237 | Long             | EC               | CORP              | CA        |        2000 | NS      | $2700.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                                    | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CML2<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        |    -1423100 | PA      | $-1446316.52  | -0.04%            | 2035-01-15      | Fixed         | 2.13%                 | No            | 2                  | On Loan: No      |
| Carnival Corp                                             | Carnival Corp                                                                    | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Short            | EC               | CORP              | PA        |      -13600 | NS      | $-382432.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Traeger Inc                                               | Traeger Inc                                                                      | CUSIP: 89269P103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2600 | NS      | $-4446.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT NOK/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | NO        |           1 | NC      | $-6062.15     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Nu Skin Enterprises Inc                                   | Nu Skin Enterprises Inc                                                          | CUSIP: 67018T105<br>LEI: 54930050DETB6CP71D38 | Long             | EC               | CORP              | US        |       11700 | NS      | $93483.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ChoiceOne Financial Services Inc                          | ChoiceOne Financial Services Inc                                                 | CUSIP: 170386106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $5740.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PVH Corp                                                  | PVH Corp                                                                         | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Short            | EC               | CORP              | US        |       -8200 | NS      | $-562520.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Dec 2026 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     5800000 | OU      | $56961.09     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Board of Trade                                   | COTTON SEP 25 67C                                                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          42 | NC      | $45780.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE NOV 25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          59 | NC      | $-337578.25   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.47375% 11/05/2026 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     6400000 | OU      | $55974.07     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Innoviz Technologies Ltd                                  | Innoviz Technologies Ltd                                                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |      -45500 | NS      | $-74620.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sunrise New Energy Co Ltd                                 | Sunrise New Energy Co Ltd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |          27 | NS      | $24.58        | 0.00%             |  |  |  | Yes           | 1                  | On Loan: No      |
| Waterstone Financial Inc                                  | Waterstone Financial Inc                                                         | CUSIP: 94188P101<br>LEI: 5493002KM21XRC2DCQ02 | Long             | EC               | CORP              | US        |         300 | NS      | $4143.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.410193% 03/15/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -600000 | OU      | $-1477.93     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| arbor multifamily mortgage securities trust               | Arbor Multifamily Mortgage Securities Trust 2022-MF4                             | CUSIP: 03882LAW0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      130000 | PA      | $96817.89     | 0.00%             | 2055-02-15      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Conagra Brands Inc                                        | Conagra Brands Inc                                                               | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |       23300 | NS      | $476951.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| HalseyPoint CLO Ltd.                                      | Halseypoint Clo 5 Ltd                                                            | CUSIP: 406370AA4<br>LEI: 549300VBED2CGY7JQG51 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $994963.00    | 0.03%             | 2035-01-30      | Floating      | 11.48%                | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | BOUGHT TRY/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | TR        |           1 | NC      | $7.69         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD TWD/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-5231.27     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| DSLA Mortgage Loan Trust                                  | DSLA Mortgage Loan Trust 2005-AR2                                                | CUSIP: 23332UDC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      937479 | PA      | $869115.71    | 0.02%             | 2045-03-19      | Floating      | 4.85%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.718005% 04/04/2039 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -200000 | OU      | $-14751.00    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| SASOL FINANCING USA LLC                                   | Sasol Financing USA LLC                                                          | CUSIP: 80386WAC9<br>LEI: 549300XRB1PFMESFEL85 | Short            | DBT              | CORP              | US        |    -3582000 | PA      | $-3525281.55  | -0.09%            | 2026-09-18      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| Domo Inc                                                  | Domo Inc                                                                         | CUSIP: 257554105<br>LEI: 549300X57AGT5JULJ761 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-16764.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Faraday Future Intelligent Electric Inc                   | Faraday Future Intelligent Electric Inc                                          | CUSIP: 307359885<br>LEI: 529900523LWWEU2Z9V55 | Short            | EC               | CORP              | US        |      -14300 | NS      | $-24024.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Yext Inc                                                  | Yext Inc                                                                         | CUSIP: 98585N106<br>LEI: 5299008ZQSBBVH7K0589 | Long             | EC               | CORP              | US        |        5600 | NS      | $47600.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS 08/01/25 5C                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           2 | NC      | $216.00       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Patterson-UTI Energy Inc                                  | Patterson-UTI Energy Inc                                                         | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Short            | EC               | CORP              | US        |      -81315 | NS      | $-482197.95   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | SO USD_SOFR_P_3.187_20540823_20340823_LCH                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |     2500000 | NC      | $363563.23    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 0.948% 01/13/2027 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      940000 | OU      | $46259.15     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Variance Swap - SPX (20.45% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |       -3121 | OU      | $-449833.61   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Fabrinet                                                  | Fabrinet                                                                         | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Short            | EC               | CORP              | KY        |       -1900 | NS      | $-559892.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.071105% 12/18/2029 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -500000 | OU      | $10252.64     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Neuberger Berman CLO Ltd                                  | Neuberger Berman Loan Advisers CLO 30 Ltd                                        | CUSIP: 64132FAN3<br>LEI: 549300WWWM7IDWOVIL36 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $999353.00    | 0.03%             | 2039-01-20      | Floating      | 9.42%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-1047.89     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.445229% 02/15/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      280000 | OU      | $15130.82     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Residential Asset Mortgage Products, INC.                 | RAMP Series 2005-RS4 Trust                                                       | CUSIP: 76112BPH7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     2253000 | PA      | $1891202.00   | 0.05%             | 2035-04-25      | Floating      | 6.35%                 | No            | 2                  | On Loan: No      |
| Matrix Service Co                                         | Matrix Service Co                                                                | CUSIP: 576853105<br>LEI: 529900VYBKSX6HD2YW58 | Long             | EC               | CORP              | US        |         500 | NS      | $6755.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JUL 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -372 | NC      | $626614.32    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| RumbleON Inc                                              | RumbleON Inc                                                                     | CUSIP: 781386305<br>LEI: 549300HTVW82DG77Y276 | Short            | EC               | CORP              | US        |       -1649 | NS      | $-3809.19     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SPDR S&P Oil & Gas Exploration & Production ETF           | SPDR S&P Oil & Gas Exploration & Production ETF                                  | CUSIP: 78468R556<br>LEI: 5493001H1FSSB667C124 | Short            | EC               | RF                | US        |       -5764 | NS      | $-725111.20   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| CorVel Corp                                               | CorVel Corp                                                                      | CUSIP: 221006109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $41112.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GEN Restaurant Group Inc                                  | GEN Restaurant Group Inc                                                         | CUSIP: 36870C104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $1170.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddiemac Strip                                          | Freddie Mac Strips                                                               | CUSIP: 31325UES1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     8103180 | PA      | $1562479.57   | 0.04%             | 2043-01-15      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Gaming and Leisure Properties Inc                         | Gaming and Leisure Properties Inc                                                | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Short            | EC               |  | US        |       -4715 | NS      | $-220096.20   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Rush Enterprises Inc                                      | Rush Enterprises Inc                                                             | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |         100 | NS      | $5151.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Radian Group Inc                                          | Radian Group Inc                                                                 | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |        1000 | NS      | $36020.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.NA.HY.44 USD 500 Jun 2030 Morgan 5%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     9400000 | OU      | $-718919.31   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Covenant Logistics Group Inc                              | Covenant Logistics Group Inc                                                     | CUSIP: 22284P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $2411.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | CBOE MKT VOLATILITY IDX WEEEKLY 07/30/25 47.5C                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -100 | NC      | $-2400.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Guardian Pharmacy Services Inc                            | Guardian Pharmacy Services Inc                                                   | CUSIP: 40145W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       33473 | NS      | $713309.63    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| BULLDOG PURCHASER INC                                     | Bulldog Purchaser Inc 2025 Term Loan                                             | CUSIP: 12021GAF1<br>LEI: 254900JB2GC3Q5OISZ63 | Long             | LON              | CORP              | US        |      992512 | PA      | $993753.14    | 0.03%             | 2031-06-27      | Floating      | 8.06%                 | No            | 2                  | On Loan: No      |
| CRH PLC                                                   | CRH PLC                                                                          | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Short            | EC               | CORP              | IE        |       -4500 | NS      | $-413100.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| JinkoSolar Holding Co Ltd                                 | JinkoSolar Holding Co Ltd                                                        | CUSIP: 47759T100<br>LEI: 529900Y93WNCS05FG852 | Short            | EC               | CORP              | KY        |      -10000 | NS      | $-212200.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Imperial Petroleum Inc                                    | Imperial Petroleum Inc                                                           | CUSIP: 000000000<br>LEI: 549300ZKLCVJXKUHBS50 | Long             | EC               | CORP              | MH        |          40 | NS      | $123.20       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Neonode Inc                                               | Neonode Inc                                                                      | CUSIP: 64051M709<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3000 | NS      | $-76500.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS EUR 09/01/25 5.5C                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -63 | NC      | $-13419.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Southwest Airlines Co                                     | Southwest Airlines Co                                                            | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Short            | EC               | CORP              | US        |      -12300 | NS      | $-399012.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| reAlpha Tech Corp                                         | reAlpha Tech Corp                                                                | CUSIP: 75607T105<br>LEI: 5493000DBY9C4Z5C1X81 | Short            | EC               | CORP              | US        |       -1800 | NS      | $-549.72      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hasbro Inc                                                | Hasbro Inc                                                                       | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Short            | EC               | CORP              | US        |       -2900 | NS      | $-214078.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Organon & Co                                              | Organon & Co                                                                     | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |        2500 | NS      | $24200.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Carval CLO LTD                                            | CarVal CLO IV Ltd                                                                | CUSIP: 14687FAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $993221.00    | 0.03%             | 2034-07-20      | Floating      | 11.13%                | No            | 2                  | On Loan: No      |
| Shoals Technologies Group Inc                             | Shoals Technologies Group Inc                                                    | CUSIP: 82489W107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-1700.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Dow Jones International Real Estate ETF              | SPDR Dow Jones International Real Estate ETF                                     | CUSIP: 78463X863<br>LEI: 549300L6MO7H2RBO8F96 | Long             | EC               | RF                | US        |       45800 | NS      | $1254920.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinnacle Financial Partners Inc                           | Pinnacle Financial Partners Inc                                                  | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |       76807 | NS      | $8480260.87   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Arbe Robotics Ltd                                         | Arbe Robotics Ltd                                                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |        -800 | NS      | $-1424.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Aveanna Healthcare LLC                                    | Aveanna Healthcare LLC 2021 2nd Lien Term Loan                                   | CUSIP: 05355JAD0<br>LEI: 5493006D6JRLPIY8YV18 | Long             | LON              | CORP              | US        |     3266610 | PA      | $3188210.89   | 0.08%             | 2029-12-10      | Floating      | 11.48%                | No            | 2                  | On Loan: No      |
| Triller Group Inc                                         | Triller Group Inc                                                                | CUSIP: 895970101<br>LEI: 5493006NA1XBERP7JE98 | Short            | EC               | CORP              | US        |         -21 | NS      | $-19.54       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.619286% 03/08/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-12980.90    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                    | Merrill Lynch Mortgage Investors Trust Series 2006-RM5                           | CUSIP: 59023FAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1465614 | PA      | $212193.09    | 0.01%             | 2037-10-25      | Floating      | 4.67%                 | No            | 2                  | On Loan: No      |
| Intelligent Bio Solutions Inc                             | Intelligent Bio Solutions Inc                                                    | CUSIP: 36151G600<br>LEI: 549300JIQ6MVR4PC5311 | Short            | EC               | CORP              | US        |       -1400 | NS      | $-2408.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 08/26/25 80C                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          63 | NC      | $-15120.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Datavault AI Inc                                          | Datavault AI Inc                                                                 | CUSIP: 86633R609<br>LEI: 549300ZRVZV7FC0R7594 | Short            | EC               | CORP              | US        |       -1700 | NS      | $-1143.43     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Xerox Holdings Corp                                       | Xerox Holdings Corp                                                              | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               | CORP              | US        |       10400 | NS      | $54808.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities            | Credit Suisse First Boston Mortgage Securities Corp                              | CUSIP: 22541QA44<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      200348 | PA      | $180995.59    | 0.00%             | 2033-11-25      | Variable      | 6.13%                 | No            | 2                  | On Loan: No      |
| Lindblad Expeditions Holdings Inc                         | Lindblad Expeditions Holdings Inc                                                | CUSIP: 535219109<br>LEI: 549300GSPW24GZE6R597 | Long             | EC               | CORP              | US        |        2100 | NS      | $24507.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CVS Health Corp                                           | CVS Health Corp                                                                  | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Short            | EC               | CORP              | US        |     -118500 | NS      | $-8174130.00  | -0.22%            |  |  |  | No            | 1                  | On Loan: No      |
| Atea Pharmaceuticals Inc                                  | Atea Pharmaceuticals Inc                                                         | CUSIP: 04683R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        8200 | NS      | $29520.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SRM Entertainment Inc                                     | SRM Entertainment Inc                                                            | CUSIP: 85237B101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1000 | NS      | $-7750.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.78525% 05/24/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $-1100.72     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Corning Inc                                               | Corning Inc                                                                      | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Short            | EC               | CORP              | US        |       -3400 | NS      | $-178806.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Gaotu Techedu Inc                                         | Gaotu Techedu Inc                                                                | CUSIP: 36257Y109<br>LEI: 549300R5BPFFORR9ET36 | Long             | EC               | CORP              | KY        |        2100 | NS      | $7581.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CARBON EMISSION EUA (FUTION) 12/01/25 95C                                        | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -50 | NC      | $11779.50     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.499% 10/31/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-4300.48     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Ardmore Shipping Corp                                     | Ardmore Shipping Corp                                                            | CUSIP: 000000000<br>LEI: 549300J8HD7K6BHD8O28 | Short            | EC               | CORP              | MH        |       -5300 | NS      | $-50880.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |      444346 | PA      | $444346.02    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Silvaco Group Inc                                         | Silvaco Group Inc                                                                | CUSIP: 82728C102<br>LEI: 89450009UUSWTJL6DP68 | Short            | EC               | CORP              | US        |        -400 | NS      | $-1888.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SOLARIS US BIDCO LLC                                      | Solaris US Bidco LLC Term Loan B                                                 | CUSIP: 83419KAC0<br>LEI: 2549003TDWENUCVBGQ49 | Long             | LON              | CORP              | US        |     2959709 | PA      | $2900515.17   | 0.08%             | 2030-11-29      | Floating      | 9.58%                 | No            | 3                  | On Loan: No      |
| SG Commercial Mortgage Securities Trust                   | SG Commercial Mortgage Securities Trust 2019-PREZ                                | CUSIP: 78430EAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1720000 | PA      | $1423205.40   | 0.04%             | 2039-09-15      | Variable      | 3.59%                 | No            | 2                  | On Loan: No      |
| Fastenal Co                                               | Fastenal Co                                                                      | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Short            | EC               | CORP              | US        |      -51498 | NS      | $-2162916.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Neurocrine Biosciences Inc                                | Neurocrine Biosciences Inc                                                       | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-138259.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WillScot Holdings Corp                                    | WillScot Holdings Corp                                                           | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Short            | EC               | CORP              | US        |       -4300 | NS      | $-117820.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Galaxy CLO Ltd                                            | Galaxy 30 Clo Ltd                                                                | CUSIP: 36321TAG7<br>LEI: 549300QQ6WEN7DIBD138 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1002403.00   | 0.03%             | 2038-01-15      | Floating      | 10.16%                | No            | 2                  | On Loan: No      |
| Abeona Therapeutics Inc                                   | Abeona Therapeutics Inc                                                          | CUSIP: 00289Y206<br>LEI: 54930002Z8PIJRCB4576 | Short            | EC               | CORP              | US        |       -2628 | NS      | $-14927.04    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER DEC 25 8500P                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          40 | NC      | $95020.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ALPHA STAR HOLDING                                        | Alpha Star Holding VIII Ltd                                                      | CUSIP: 000000000<br>LEI: 254900TMRVHA9YMIFC14 | Long             | DBT              | CORP              | AE        |     3125000 | PA      | $3234918.75   | 0.09%             | 2027-04-12      | Fixed         | 8.38%                 | Yes           | 2                  | On Loan: No      |
| BioNexus Gene Lab Corp                                    | BioNexus Gene Lab Corp                                                           | CUSIP: 090628306<br>LEI: 549300COYSKRA3Z7E531 | Long             | EC               | CORP              | US        |           3 | NS      | $9.57         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Oddity Tech Ltd                                           | Oddity Tech Ltd                                                                  | CUSIP: 000000000<br>LEI: 254900QH12XZS53G0V57 | Long             | EC               | CORP              | IL        |        2800 | NS      | $211316.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Humacyte Inc                                              | Humacyte Inc                                                                     | CUSIP: 44486Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6600 | NS      | $13794.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GrafTech International Ltd                                | GrafTech International Ltd                                                       | CUSIP: 384313508<br>LEI: 549300GY32W00XP57351 | Short            | EC               | CORP              | US        |       -2500 | NS      | $-2431.50     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Quanterix Corp                                            | Quanterix Corp                                                                   | CUSIP: 74766Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2100 | NS      | $13965.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ORIC Pharmaceuticals Inc                                  | ORIC Pharmaceuticals Inc                                                         | CUSIP: 68622P109<br>LEI: 54930033FJRNEYBW0L25 | Short            | EC               | CORP              | US        |        -100 | NS      | $-1015.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Whitehawk Therapeutics Inc                                | Whitehawk Therapeutics Inc                                                       | CUSIP: 00032Q104<br>LEI: 549300G3U7TKW1M58L09 | Long             | EC               | CORP              | US        |         700 | NS      | $1309.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CONTRA CVR CATALYST                                       | CONTRA CVR CATALYST                                                              | CUSIP: 148CVR012<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4600 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Goldman Sachs International                               | Buy ICBCAS SNRFOR USD 100 Dec 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | CN        |     2200000 | OU      | $-36314.07    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bel Fuse Inc                                              | Bel Fuse Inc                                                                     | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |         300 | NS      | $29307.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Seritage Growth Properties                                | Seritage Growth Properties                                                       | CUSIP: 81752R100<br>LEI: 5493003CJFC2MM82WB25 | Long             | EC               | CORP              | US        |         800 | NS      | $2464.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Trevi Therapeutics Inc                                    | Trevi Therapeutics Inc                                                           | CUSIP: 89532M101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -900 | NS      | $-4923.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Employers Holdings Inc                                    | Employers Holdings Inc                                                           | CUSIP: 292218104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $4718.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MBIA Inc                                                  | MBIA Inc                                                                         | CUSIP: 55262C100<br>LEI: 54F1KGFE2KNP3VAL3P42 | Long             | EC               | CORP              | US        |        1400 | NS      | $6076.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Heritage Commerce Corp                                    | Heritage Commerce Corp                                                           | CUSIP: 426927109<br>LEI: 549300CLIS851ELSR406 | Long             | EC               | CORP              | US        |        5200 | NS      | $51636.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MP Materials Corp                                         | MP Materials Corp                                                                | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |       22770 | NS      | $757557.90    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Beeline Holdings Inc                                      | Beeline Holdings Inc                                                             | CUSIP: 277802500<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          19 | NS      | $28.12        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Woodward Capital Management                               | RCKT Mortgage Trust 2023-CES2                                                    | CUSIP: 748956AD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5513000 | PA      | $5609295.57   | 0.15%             | 2043-09-25      | Variable      | 7.36%                 | No            | 2                  | On Loan: No      |
| SOTHEBY'S                                                 | Sotheby's                                                                        | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |      606000 | PA      | $599023.84    | 0.02%             | 2027-10-15      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| SoundThinking Inc                                         | SoundThinking Inc                                                                | CUSIP: 82536T107<br>LEI: 549300MQV8SOWVNVZ667 | Long             | EC               | CORP              | US        |         300 | NS      | $3916.52      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MSCI Inc                                                  | MSCI Inc                                                                         | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Short            | EC               | CORP              | US        |        -214 | NS      | $-123422.36   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Materials Select Sector SPDR Fund                         | Materials Select Sector SPDR Fund                                                | CUSIP: 81369Y100<br>LEI: 549300N81BAQ1XPGBT65 | Short            | EC               | RF                | US        |       -1734 | NS      | $-152262.54   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Paylocity Holding Corp                                    | Paylocity Holding Corp                                                           | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |         400 | NS      | $72476.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| KRONOS ACQUISITION HOLDI                                  | Kronos Acquisition Holdings Inc                                                  | CUSIP: 50106GAJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     3258000 | PA      | $2367095.34   | 0.06%             | 2032-06-30      | Fixed         | 10.75%                | No            | 2                  | On Loan: No      |
| TriplePoint Venture Growth BDC Corp                       | TriplePoint Venture Growth BDC Corp                                              | CUSIP: 89677Y100<br>LEI: 549300ATPBY6JIFH9Z88 | Long             | EC               | CORP              | US        |        5700 | NS      | $39957.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CommScope Holding Co Inc                                  | CommScope Holding Co Inc                                                         | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |       45900 | NS      | $380052.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | BBB FOODS INC-CLASS A CFD                                                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | VG        |    -1455287 | OU      | $-30983.51    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Albany International Corp                                 | Albany International Corp                                                        | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |         100 | NS      | $7013.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| International Game Technology PLC                         | International Game Technology PLC                                                | CUSIP: 000000000<br>LEI: 549300UQ6KHRCZDRGZ76 | Short            | EC               | CORP              | GB        |       -3000 | NS      | $-47430.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Residential Asset Securities Corporation                  | RASC Series 2006-KS1 Trust                                                       | CUSIP: 76113AAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      337000 | PA      | $269161.90    | 0.01%             | 2036-02-25      | Floating      | 5.23%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | US LONG BOND(CBT) Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -266 | NC      | $-873820.18   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Energy Vault Holdings Inc                                 | Energy Vault Holdings Inc                                                        | CUSIP: 29280W109<br>LEI: 549300KMBUKUUIQ6FN34 | Short            | EC               | CORP              | US        |      -17800 | NS      | $-12759.05    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Azitra Inc                                                | Azitra Inc                                                                       | CUSIP: 05479L203<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1700 | NS      | $-444.38      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| aTyr Pharma Inc                                           | aTyr Pharma Inc                                                                  | CUSIP: 002120202<br>LEI: 529900ENQUXMC5EBKO36 | Short            | EC               | CORP              | US        |       -2900 | NS      | $-14703.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.462% 10/17/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -2800000 | OU      | $2998.25      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| SBA Communications Corp                                   | SBA Communications Corp                                                          | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               |  | US        |        1019 | NS      | $239301.96    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) SEP 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -662 | NC      | $555637.08    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.7047% 04/02/2035 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |     -200000 | OU      | $5135.03      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Global Net Lease Inc                                      | Global Net Lease Inc                                                             | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Short            | EC               |  | US        |          -6 | NS      | $-45.30       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hewlett Packard Enterprise Co                             | Hewlett Packard Enterprise Co                                                    | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Short            | EC               | CORP              | US        |      -43800 | NS      | $-895710.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc                                       | Arista Networks Inc                                                              | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |       24400 | NS      | $2496364.00   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| CD Commercial Mortgage Trust                              | CD 2016-CD1 Mortgage Trust                                                       | CUSIP: 12514MAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      422000 | PA      | $208792.94    | 0.01%             | 2049-08-10      | Variable      | 2.89%                 | No            | 2                  | On Loan: No      |
| Carlyle Global Market Strategies                          | Carlyle US CLO 2025-1 Ltd                                                        | CUSIP: 14319XAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $998744.00    | 0.03%             | 2038-04-25      | Floating      | 10.01%                | No            | 2                  | On Loan: No      |
| Chase Mortgage Finance Corporation                        | Chase Mortgage Finance Trust Series 2007-A1                                      | CUSIP: 161630CP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      213193 | PA      | $170746.10    | 0.00%             | 2037-02-25      | Variable      | 6.46%                 | No            | 2                  | On Loan: No      |
| Penns Woods Bancorp Inc                                   | Penns Woods Bancorp Inc                                                          | CUSIP: 708430103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $6072.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% JUN 25 97.5P                                                    | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |          52 | NC      | $15340.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD ILS/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-111211.74   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Montauk Renewables Inc                                    | Montauk Renewables Inc                                                           | CUSIP: 61218C103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -900 | NS      | $-1998.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    34300000 | OU      | $841960.18    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Femasys Inc                                               | Femasys Inc                                                                      | CUSIP: 31447E105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1700 | NS      | $-1641.85     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2015-CCRE23 Mortgage Trust                                                  | CUSIP: 12593ABF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      218971 | PA      | $210014.40    | 0.01%             | 2048-05-10      | Variable      | 4.36%                 | No            | 2                  | On Loan: No      |
| Aura Biosciences Inc                                      | Aura Biosciences Inc                                                             | CUSIP: 05153U107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-1252.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  SEP25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          28 | NC      | $57551.84     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | NVIDIA CORP OTC 09/19/25 115C                                                    | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |          15 | NC      | $69063.04     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Taurus CMBS                                               | Taurus 2025-1 EU DAC                                                             | CUSIP: 000000000<br>LEI: 635400KCMIB1QHAROM23 | Long             | ABS-MBS          | CORP              | IE        |      999933 | PA      | $1150519.33   | 0.03%             | 2035-02-17      | Floating      | 5.99%                 | No            | 2                  | On Loan: No      |
| REPUBLIC OF MONTENEGRO                                    | MONTEN 7.25 03/12/31 REGS                                                        | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |     2404000 | PA      | $2488140.00   | 0.07%             | 2031-03-12      | Fixed         | 7.25%                 | Yes           | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | Buy PERU SNRFOR USD 100 Jun 2030 JPMB_ISDA 1%                                    | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | PE        |     7206000 | OU      | $-60663.36    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Asurion LLC                                               | Asurion LLC 2023 Term Loan B11                                                   | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |      772050 | PA      | $763086.47    | 0.02%             | 2028-08-19      | Floating      | 8.68%                 | No            | 2                  | On Loan: No      |
| Marriott Vacations Worldwide Corp                         | Marriott Vacations Worldwide Corp                                                | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Short            | EC               | CORP              | US        |       -3100 | NS      | $-224161.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Forum Energy Technologies Inc                             | Forum Energy Technologies Inc                                                    | CUSIP: 34984V209<br>LEI: 549300SF93HLCR1REE27 | Long             | EC               | CORP              | US        |         400 | NS      | $7788.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Palmer Square CLO Ltd                                     | Palmer Square CLO 2025-2 Ltd                                                     | CUSIP: 69704DAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2250000 | PA      | $2240577.00   | 0.06%             | 2038-07-20      | Floating      | 10.07%                | No            | 2                  | On Loan: No      |
| Tractor Supply Co                                         | Tractor Supply Co                                                                | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Short            | EC               | CORP              | US        |      -25700 | NS      | $-1356189.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division          | ICE 3MTH SONIA SEP 26                                                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              |  | US        |         354 | NC      | $156911.07    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 4.2846% 02/21/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-9105.88     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | PALLADIUM SEP 25                                                                 | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           7 | NC      | $12903.33     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barings BDC Inc                                           | Barings BDC Inc                                                                  | CUSIP: 06759L103<br>LEI: 549300GSF4KFZP6ONG49 | Long             | EC               | CORP              | US        |        7000 | NS      | $63980.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT APR27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $9250.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Japan Exchange Group Inc                                  | Japan Exchange Group Inc                                                         | CUSIP: 000000000<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |       22500 | NS      | $227925.31    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of Marin Bancorp                                     | Bank of Marin Bancorp                                                            | CUSIP: 063425102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       37769 | NS      | $862643.96    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.615% 04/20/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1300000 | OU      | $136.76       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Inmune Bio Inc                                            | Inmune Bio Inc                                                                   | CUSIP: 45782T105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -700 | NS      | $-1617.00     | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 10/01/25 74.75C                                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -15 | NC      | $77400.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS              | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA3 Trust | CUSIP: 939355AB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      216280 | PA      | $177895.02    | 0.00%             | 2047-02-25      | Floating      | 5.15%                 | No            | 2                  | On Loan: No      |
| Sonder Holdings Inc                                       | Sonder Holdings Inc                                                              | CUSIP: 83542D300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          25 | NS      | $67.50        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | Euro-OAT Future   Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |          -9 | NC      | $894.06       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CALI Mortgage Trust                                       | Cali 2024-Sun                                                                    | CUSIP: 12988DAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $1001150.00   | 0.03%             | 2041-07-15      | Floating      | 8.94%                 | No            | 2                  | On Loan: No      |
| FLY-E Group Inc                                           | FLY-E Group Inc                                                                  | CUSIP: 343927109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-181.92      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Criteo SA                                                 | Criteo SA                                                                        | CUSIP: 226718104<br>LEI: 969500EELFB4RDMFHA76 | Long             | EC               | CORP              | FR        |        2900 | NS      | $69484.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT CNH/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CN        |           1 | NC      | $133.04       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Kaspi.KZ JSC                                              | Kaspi.KZ JSC                                                                     | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Short            | EC               | CORP              | KZ        |        -100 | NS      | $-8489.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | LME COPPER MS 03/04/26 12500C                                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCO              |  | US        |        2992 | NC      | $293437.75    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| H-Food Holdings LLC                                       | H-Food Holdings LLC 2025 Exit Term Loan                                          | CUSIP: 000000000<br>LEI: 549300JY2LK0EQ95YT44 | Long             | LON              | CORP              | US        |     3065347 | PA      | $3093456.24   | 0.08%             | 2030-03-29      | Floating      | 10.83%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.427% 10/07/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-6551.23     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bancorp Inc/The                                           | Bancorp Inc/The                                                                  | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Short            | EC               | CORP              | US        |      -44752 | NS      | $-2549521.44  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Fluence Energy Inc                                        | Fluence Energy Inc                                                               | CUSIP: 34379V103<br>LEI: 25490043LHZ97BT5PP29 | Long             | EC               | CORP              | US        |       19100 | NS      | $128161.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ambev SA                                                  | Ambev SA                                                                         | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |       34300 | NS      | $82663.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pulse Biosciences Inc                                     | Pulse Biosciences Inc                                                            | CUSIP: 74587B101<br>LEI: 529900NJUBI06118FM73 | Short            | EC               | CORP              | US        |        -203 | NS      | $-3063.27     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.7033% 01/24/2040 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -2200000 | OU      | $613.88       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Super Micro Computer Inc                                  | Super Micro Computer Inc                                                         | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Short            | EC               | CORP              | US        |     -184600 | NS      | $-9047246.00  | -0.24%            |  |  |  | No            | 1                  | On Loan: No      |
| iRadimed Corp                                             | iRadimed Corp                                                                    | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |         400 | NS      | $23916.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sterling Infrastructure Inc                               | Sterling Infrastructure Inc                                                      | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |        2400 | NS      | $553752.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | EURO-BUND FUTURE  Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -243 | NC      | $211034.36    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| CSX Corp                                                  | CSX Corp                                                                         | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |        1007 | NS      | $32858.41     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      529562 | PA      | $529561.67    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Amarin Corp PLC                                           | Amarin Corp PLC                                                                  | CUSIP: 023111404<br>LEI: 5493009JFIGUFEVPK217 | Long             | EC               | CORP              | GB        |         685 | NS      | $11110.70     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Trident Digital Tech Holdings Ltd                         | Trident Digital Tech Holdings Ltd                                                | CUSIP: 89616X106<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -5600 | NS      | $-1355.76     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| VCI Global Ltd                                            | VCI Global Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900ZXN2V35FXINY45 | Long             | EC               | CORP              | VG        |           2 | NS      | $4.30         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Brookfield Asset Management Ltd                           | Brookfield Asset Management Ltd                                                  | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Short            | EC               | CORP              | CA        |      -20100 | NS      | $-1111128.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Burlington Stores Inc                                     | Burlington Stores Inc                                                            | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Short            | EC               | CORP              | US        |      -11000 | NS      | $-2559040.00  | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| Barclays Bank PLC                                         | SOUSD_SOFR_P_5.375_20271218_20261218_LCH                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |     5500000 | NC      | $1865.10      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Guess? Inc                                                | Guess? Inc                                                                       | CUSIP: 401617105<br>LEI: 549300QVH3ZK2DW0KP86 | Long             | EC               | CORP              | US        |        2000 | NS      | $24180.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE SPX VOLATILITY INDX JUL 25 28C                                              | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |        1702 | NC      | $51060.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Camden National Corp                                      | Camden National Corp                                                             | CUSIP: 133034108<br>LEI: 549300ZVEDL2L8UW4F28 | Long             | EC               | CORP              | US        |         300 | NS      | $12174.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CareDx Inc                                                | CareDx Inc                                                                       | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               | CORP              | US        |        8400 | NS      | $164136.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT MAR 30                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |          -9 | NC      | $-800.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.106% 08/10/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1200000 | OU      | $11310.57     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Forge Global Holdings Inc                                 | Forge Global Holdings Inc                                                        | CUSIP: 34629L202<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1331 | NS      | $-25342.24    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Vibrant CLO Ltd                                           | Vibrant CLO XIV Ltd                                                              | CUSIP: 92557VAA3<br>LEI: 5493000EYXFKXA2VRV24 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $992513.00    | 0.03%             | 2034-10-20      | Floating      | 11.39%                | No            | 2                  | On Loan: No      |
| Agilysys Inc                                              | Agilysys Inc                                                                     | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Short            | EC               | CORP              | US        |        -100 | NS      | $-11464.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Revolution Medicines Inc                                  | Revolution Medicines Inc                                                         | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Short            | EC               | CORP              | US        |        -145 | NS      | $-5334.55     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.268% 01/25/2026 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     2000000 | OU      | $18117.56     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| ReadyCap Commercial Mortgage Trust                        | Ready Capital Mortgage Financing 2021-FL7 LLC                                    | CUSIP: 75575WAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      100000 | PA      | $99897.00     | 0.00%             | 2036-11-25      | Floating      | 7.38%                 | No            | 2                  | On Loan: No      |
| Atlas Lithium Corp                                        | Atlas Lithium Corp                                                               | CUSIP: 105861306<br>LEI: 5493006FIK0ZLW06RD76 | Short            | EC               | CORP              | US        |       -3200 | NS      | $-12096.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ALIBABA GROUP HOLDING                                     | Alibaba Group Holding Ltd                                                        | CUSIP: 01609WBG6<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |      133000 | PA      | $169418.62    | 0.00%             | 2031-06-01      | Fixed         | 0.50%                 | No            | N/A                | On Loan: No      |
| Bridgebio Pharma Inc                                      | Bridgebio Pharma Inc                                                             | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |       15200 | NS      | $656336.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Weis Markets Inc                                          | Weis Markets Inc                                                                 | CUSIP: 948849104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1100 | NS      | $79739.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Jones Lang LaSalle Inc                                    | Jones Lang LaSalle Inc                                                           | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Short            | EC               | CORP              | US        |       -3000 | NS      | $-767340.00   | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| WiMi Hologram Cloud Inc                                   | WiMi Hologram Cloud Inc                                                          | CUSIP: 000000000<br>LEI: 25490023IKJN5F1FKH37 | Short            | EC               | CORP              | KY        |         -10 | NS      | $-27.70       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Vnet Group Inc                                            | Vnet Group Inc                                                                   | CUSIP: 90138A103<br>LEI: 529900672GYJQ3T38I58 | Long             | EC               | CORP              | KY        |       63300 | NS      | $436770.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Orchestra BioMed Holdings Inc                             | Orchestra BioMed Holdings Inc                                                    | CUSIP: 68572M106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1038 | NS      | $-2781.84     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bicycle Therapeutics PLC                                  | Bicycle Therapeutics PLC                                                         | CUSIP: 088786108<br>LEI: 213800XKUI6R7GKC3E43 | Long             | EC               | CORP              | GB        |         500 | NS      | $3475.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BioAtla Inc                                               | BioAtla Inc                                                                      | CUSIP: 09077B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3000 | NS      | $1188.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cal-Maine Foods Inc                                       | Cal-Maine Foods Inc                                                              | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |       12570 | NS      | $1252349.10   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Oblong Inc                                                | Oblong Inc                                                                       | CUSIP: 674434303<br>LEI: 5493005Q5YB0642UZX06 | Long             | EC               | CORP              | US        |           1 | NS      | $3.73         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | COMFORIA RESIDENTIAL REIT IN CFD                                                 | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Kodiak Sciences Inc                                       | Kodiak Sciences Inc                                                              | CUSIP: 50015M109<br>LEI: 254900IXI5NI8C9OQE24 | Long             | EC               | CORP              | US        |        4600 | NS      | $17158.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS NOV 25                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         139 | NC      | $-293700.05   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Columbia Banking System Inc                               | Columbia Banking System Inc                                                      | CUSIP: 197236102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -72686 | NS      | $-1699398.68  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Axalta Coating Systems Ltd                                | Axalta Coating Systems Ltd                                                       | CUSIP: 000000000<br>LEI: 529900AGLPA40GV6H619 | Short            | EC               | CORP              | BM        |        -100 | NS      | $-2969.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Pikes Peak CLO                                            | Pikes Peak Clo 17 Ltd                                                            | CUSIP: 72133UAA0<br>LEI: 213800T13UEBKCDDLT29 | Long             | ABS-CBDO         | CORP              | JE        |     1500000 | PA      | $1503567.00   | 0.04%             | 2038-01-15      | Floating      | 10.01%                | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT MAR 28                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -25 | NC      | $-33500.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT COP/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CO        |           1 | NC      | $133577.83    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BRASKEM IDESA SAPI                                        | Braskem Idesa SAPI                                                               | CUSIP: 000000000<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |     1226000 | PA      | $851161.23    | 0.02%             | 2032-02-20      | Fixed         | 6.99%                 | Yes           | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FPHZ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     8042142 | PA      | $731271.95    | 0.02%             | 2029-08-25      | Variable      | 4.05%                 | No            | 2                  | On Loan: No      |
| Merchants Bancorp/IN                                      | Merchants Bancorp/IN                                                             | CUSIP: 58844R108<br>LEI: 54930008Y0GPVLF81889 | Long             | EC               | CORP              | US        |          50 | NS      | $1653.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BRC Inc                                                   | BRC Inc                                                                          | CUSIP: 05601U105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1700 | NS      | $-2227.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Newamsterdam Pharma Co NV                                 | Newamsterdam Pharma Co NV                                                        | CUSIP: 000000000<br>LEI: 984500B6549TF6E14D36 | Short            | EC               | CORP              | NL        |       -2100 | NS      | $-38031.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1      JAN26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         713 | NC      | $1789430.62   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Cleanspark Inc                                            | Cleanspark Inc                                                                   | CUSIP: 18452B209<br>LEI: 254900VO7KBRJQDGY810 | Short            | EC               | CORP              | US        |      -87800 | NS      | $-968434.00   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-21CB                                                 | CUSIP: 02147GAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      498832 | PA      | $202910.55    | 0.01%             | 2036-07-25      | Floating      | 4.83%                 | No            | 2                  | On Loan: No      |
| BioVie Inc                                                | BioVie Inc                                                                       | CUSIP: 09074F405<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -900 | NS      | $-832.53      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                        | Morgan Stanley Mortgage Loan Trust 2004-9                                        | CUSIP: 61748HGH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      263166 | PA      | $226373.91    | 0.01%             | 2034-11-25      | Variable      | 5.41%                 | No            | 2                  | On Loan: No      |
| Sri Lanka Government International Bonds                  | Sri Lanka Government International Bonds                                         | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | CORP              | LK        |     2483825 | PA      | $2013300.52   | 0.05%             | 2038-02-15      | Variable      | 3.60%                 | Yes           | N/A                | On Loan: No      |
| CIFC Funding Ltd                                          | CIFC Funding 2021-VI Ltd                                                         | CUSIP: 12553SAL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $999802.00    | 0.03%             | 2034-10-15      | Floating      | 7.62%                 | No            | 2                  | On Loan: No      |
| BHP Group Ltd                                             | BHP Group Ltd                                                                    | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Short            | EC               | CORP              | AU        |      -38100 | NS      | $-1832229.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FKJF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1000000 | PA      | $69264.00     | 0.00%             | 2045-12-25      | Variable      | 2.39%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.709% 04/12/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-14433.37    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Piedmont Realty Trust Inc                                 | Piedmont Realty Trust Inc                                                        | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               |  | US        |        4400 | NS      | $32076.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT NOV 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-72600.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Guaranty Bancshares Inc/TX                                | Guaranty Bancshares Inc/TX                                                       | CUSIP: 400764106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         674 | NS      | $28604.56     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Balboa Bay Loan Funding Ltd                               | Balboa Bay Loan Funding 2023-2 Ltd                                               | CUSIP: 05766JAJ0<br>LEI: 549300AVUGQW27DUWV37 | Long             | ABS-CBDO         | CORP              | KY        |     1250000 | PA      | $1257812.50   | 0.03%             | 2036-10-20      | Floating      | 8.77%                 | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     3653020 | PA      | $3653019.76   | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | ADMIRAL ACQUISITION LIMITED CFD - WARRANT                                        | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |           0 | OU      | $83986.50     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Natural Gas Services Group Inc                            | Natural Gas Services Group Inc                                                   | CUSIP: 63886Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $10324.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Xenon Pharmaceuticals Inc                                 | Xenon Pharmaceuticals Inc                                                        | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |         200 | NS      | $6260.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN JUN 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $2010.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bridger Aerospace Group Holdings Inc                      | Bridger Aerospace Group Holdings Inc                                             | CUSIP: 96812F102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $193.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Genco Shipping & Trading Ltd                              | Genco Shipping & Trading Ltd                                                     | CUSIP: 000000000<br>LEI: 5493003MBZ5GU8QHXZ58 | Long             | EC               | CORP              | MH        |        1500 | NS      | $19605.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | GASOLINE RBOB AUG 25                                                             | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         552 | NC      | $-461778.24   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Preferred Bank/Los Angeles CA                             | Preferred Bank/Los Angeles CA                                                    | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |         400 | NS      | $34618.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Everspin Technologies Inc                                 | Everspin Technologies Inc                                                        | CUSIP: 30041T104<br>LEI: 549300MNDRV7X6PEDF15 | Long             | EC               | CORP              | US        |        1600 | NS      | $10064.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MacroGenics Inc                                           | MacroGenics Inc                                                                  | CUSIP: 556099109<br>LEI: 5493001KJQUA83L8MH79 | Long             | EC               | CORP              | US        |       13700 | NS      | $16577.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kymera Therapeutics Inc                                   | Kymera Therapeutics Inc                                                          | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5800 | NS      | $253112.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.58075% 04/04/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $1442.88      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| HP Inc                                                    | HP Inc                                                                           | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Short            | EC               | CORP              | US        |       -9700 | NS      | $-237262.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| MidOcean Credit CLO                                       | MidOcean Credit CLO XIII Ltd                                                     | CUSIP: 59803DAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $1008299.00   | 0.03%             | 2037-01-21      | Floating      | 9.36%                 | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FPHY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    54147154 | PA      | $1569238.68   | 0.04%             | 2029-08-25      | Variable      | 1.09%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT OCT 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-36600.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Blue Owl Capital Corp                                     | Blue Owl Capital Corp                                                            | CUSIP: 69121K104<br>LEI: 2549000BD79OOCPF2L94 | Short            | EC               | CORP              | US        |      -14300 | NS      | $-205062.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Cerence Inc                                               | Cerence Inc                                                                      | CUSIP: 156727109<br>LEI: 5493002WL2W5WMS89568 | Short            | EC               | CORP              | US        |       -5000 | NS      | $-51050.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Egypt Government International Bonds                      | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      303000 | PA      | $248432.65    | 0.01%             | 2049-03-01      | Fixed         | 8.70%                 | Yes           | 2                  | On Loan: No      |
| Commodities Exchange Center                               | SILVER 09/01/25 39.5C                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         -37 | NC      | $-96755.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 10/01/25 65P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         105 | NC      | $28350.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS MAR 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -61 | NC      | $260380.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Cybin Inc                                                 | Cybin Inc                                                                        | CUSIP: 23256X407<br>LEI: 549300NTYWN4CVYSCN32 | Short            | EC               | CORP              | CA        |        -500 | NS      | $-4195.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Light & Wonder Inc                                        | Light & Wonder Inc                                                               | CUSIP: 80874P109<br>LEI: 529900JXALYBOHXKFM62 | Short            | EC               | CORP              | US        |        -800 | NS      | $-77008.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.915% 11/10/2027 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    -1800000 | OU      | $21791.20     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Carlyle Global Market Strategies                          | Carlyle US CLO 2021-9 Ltd                                                        | CUSIP: 14317KAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $995722.00    | 0.03%             | 2034-10-20      | Floating      | 11.16%                | No            | 2                  | On Loan: No      |
| Dream Finders Homes Inc                                   | Dream Finders Homes Inc                                                          | CUSIP: 26154D100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-10052.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     7700000 | OU      | $189011.47    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Xenia Hotels & Resorts Inc                                | Xenia Hotels & Resorts Inc                                                       | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Short            | EC               |  | US        |        -800 | NS      | $-10056.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Canyon CLO 2021-3 Ltd                                     | Canyon CLO 2021-3 Ltd                                                            | CUSIP: 13875MAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $999260.00    | 0.03%             | 2034-07-15      | Floating      | 7.57%                 | No            | 2                  | On Loan: No      |
| Lehman Mortgage Trust                                     | Lehman Mortgage Trust 2005-2                                                     | CUSIP: 52520MBY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      495391 | PA      | $240912.20    | 0.01%             | 2035-12-25      | Floating      | 5.18%                 | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA12                                                 | CUSIP: 23243AAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      170104 | PA      | $153083.47    | 0.00%             | 2046-09-20      | Floating      | 4.64%                 | No            | 2                  | On Loan: No      |
| CoreVest American Finance Ltd                             | Corevest American Finance 2020-1 Trust                                           | CUSIP: 21872UAQ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      125000 | PA      | $115988.50    | 0.00%             | 2050-03-15      | Variable      | 4.74%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.1665% 05/04/2032 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     6500000 | OU      | $156277.01    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Skillz Inc                                                | Skillz Inc                                                                       | CUSIP: 83067L208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $682.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sportsman's Warehouse Holdings Inc                        | Sportsman's Warehouse Holdings Inc                                               | CUSIP: 84920Y106<br>LEI: 549300JVV8YLQSRSF462 | Long             | EC               | CORP              | US        |        6400 | NS      | $22080.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Enerflex Ltd                                              | Enerflex Ltd                                                                     | CUSIP: 29269R105<br>LEI: 54930014N7872VUS3F89 | Long             | EC               | CORP              | CA        |        1900 | NS      | $14991.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD SEK/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-22402.90    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.025% 10/01/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $2347.45      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| American Airlines Group Inc                               | American Airlines Group Inc                                                      | CUSIP: 02376R102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5794 | NS      | $-65008.68    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Douglas Elliman Inc                                       | Douglas Elliman Inc                                                              | CUSIP: 25961D105<br>LEI: 549300BXICHPOXA1NO93 | Long             | EC               | CORP              | US        |         900 | NS      | $2088.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Benefit Street Partners CLO Ltd                           | Benefit Street Partners CLO X Ltd                                                | CUSIP: 08181MAG0<br>LEI: 549300MYLNCW81S1Y182 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $996134.00    | 0.03%             | 2034-04-20      | Floating      | 11.28%                | No            | 2                  | On Loan: No      |
| PDD Holdings Inc                                          | PDD Holdings Inc                                                                 | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Short            | EC               | CORP              | KY        |      -67600 | NS      | $-7075016.00  | -0.19%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | LINEAGE INC CFD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -1597287 | OU      | $34265.88     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT MAR 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $73250.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COLT Funding LLC                                          | COLT 2022-5 Mortgage Loan Trust                                                  | CUSIP: 19688LAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $922017.00    | 0.02%             | 2067-03-25      | Variable      | 4.68%                 | No            | 2                  | On Loan: No      |
| Zhihu Inc                                                 | Zhihu Inc                                                                        | CUSIP: 98955N207<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -5766 | NS      | $-22948.68    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT MAY26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         744 | NC      | $185909.74    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kratos Defense & Security Solutions Inc                   | Kratos Defense & Security Solutions Inc                                          | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Short            | EC               | CORP              | US        |       -7300 | NS      | $-339085.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Getty Realty Corp                                         | Getty Realty Corp                                                                | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               |  | US        |        4500 | NS      | $124380.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| KKR Financial CLO Ltd                                     | KKR CLO 49 Ltd                                                                   | CUSIP: 481940AG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $1976948.00   | 0.05%             | 2037-10-20      | Floating      | 11.09%                | No            | 2                  | On Loan: No      |
| Stellar Bancorp Inc                                       | Stellar Bancorp Inc                                                              | CUSIP: 858927106<br>LEI: 54930070P8Z0WHFBB536 | Long             | EC               | CORP              | US        |       87810 | NS      | $2456923.80   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Korn Ferry                                                | Korn Ferry                                                                       | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Short            | EC               | CORP              | US        |        -300 | NS      | $-21999.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust               | MF1 Multifamily Housing Mortgage Loan Trust                                      | CUSIP: 55282XAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      100000 | PA      | $99669.50     | 0.00%             | 2036-07-15      | Floating      | 7.43%                 | No            | 2                  | On Loan: No      |
| Endava PLC                                                | Endava PLC                                                                       | CUSIP: 29260V105<br>LEI: 213800JJ6CRPCWCQVZ25 | Short            | EC               | CORP              | GB        |       -2300 | NS      | $-35236.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.89375% 06/06/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $-4097.25     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Marten Transport Ltd                                      | Marten Transport Ltd                                                             | CUSIP: 573075108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1099 | NS      | $14276.01     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Elevation Oncology Inc                                    | Elevation Oncology Inc                                                           | CUSIP: 28623U101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5400 | NS      | $1982.34      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bear Stearns Alt-A Trust                                  | Bear Stearns ALT-A Trust 2006-3                                                  | CUSIP: 07386HL33<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      328611 | PA      | $236312.04    | 0.01%             | 2036-05-25      | Variable      | 4.19%                 | No            | 2                  | On Loan: No      |
| GeoVax Labs Inc                                           | GeoVax Labs Inc                                                                  | CUSIP: 373678606<br>LEI: 549300KXK8Z4UZ4J7S86 | Short            | EC               | CORP              | US        |       -5400 | NS      | $-4674.79     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Variance Swap - SX5E (19.7% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | XX        |       -3240 | OU      | $-9228.64     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | TARGA RESOURCES CORP CFD                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     6292686 | OU      | $357170.00    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Ashford Hospitality Trust Inc                             | Ashford Hospitality Trust Inc                                                    | CUSIP: 044103794<br>LEI: N/A                  | Short            | EC               |  | US        |       -1020 | NS      | $-6140.40     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | WESTERN MIDSTREAM PARTNERS L CFD                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     2858340 | OU      | $738.78       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) AUG 25 55.5P                                                      | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -20 | NC      | $-12600.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Citi Trends Inc                                           | Citi Trends Inc                                                                  | CUSIP: 17306X102<br>LEI: 529900D06Q0FPHV34S87 | Long             | EC               | CORP              | US        |         900 | NS      | $30051.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity National Information Services Inc                | Fidelity National Information Services Inc                                       | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |       14410 | NS      | $1173118.10   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Lebanese Republic                                         | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    36333000 | PA      | $6823337.40   | 0.18%             | 2021-04-12      | None          | 0.00%                 | Yes           | 2                  | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                  | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     9451000 | PA      | $8741207.26   | 0.23%             | 2029-06-01      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| Dayforce Inc                                              | Dayforce Inc                                                                     | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Short            | EC               | CORP              | US        |      -24900 | NS      | $-1379211.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Skyward Specialty Insurance Group Inc                     | Skyward Specialty Insurance Group Inc                                            | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               | CORP              | US        |        4200 | NS      | $242718.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| STAR 2022-SFR3 Trust                                      | STAR 2022-SFR3 Trust                                                             | CUSIP: 78474PAL1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1000000 | PA      | $994355.00    | 0.03%             | 2039-05-17      | Floating      | 8.01%                 | No            | 2                  | On Loan: No      |
| Spectrum Brands Holdings Inc                              | Spectrum Brands Holdings Inc                                                     | CUSIP: 84790A105<br>LEI: 549300JM0MJETDD30O20 | Long             | EC               | CORP              | US        |         700 | NS      | $37100.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Qorvo Inc                                                 | Qorvo Inc                                                                        | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Short            | EC               | CORP              | US        |        -100 | NS      | $-8491.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Star Bulk Carriers Corp                                   | Star Bulk Carriers Corp                                                          | CUSIP: 000000000<br>LEI: 549300SO3FMK7H6DDY54 | Long             | EC               | CORP              | MH        |          24 | NS      | $414.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| EssilorLuxottica SA                                       | EssilorLuxottica SA                                                              | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Short            | EC               | CORP              | FR        |        -238 | NS      | $-65352.86    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Atlantic Union Bankshares Corp                            | Atlantic Union Bankshares Corp                                                   | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      184786 | NS      | $5780106.08   | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Revlon Intermediate Holdings IV LLC                       | Revlon Intermediate Holdings IV LLC 2023 Exit Term Loan                          | CUSIP: 000000000<br>LEI: 2MKZBE7NMX7EJWQLHS95 | Long             | LON              | CORP              | US        |     8487354 | PA      | $8285778.94   | 0.22%             | 2028-05-02      | Floating      | 10.95%                | No            | 2                  | On Loan: No      |
| Lantronix Inc                                             | Lantronix Inc                                                                    | CUSIP: 516548203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5400 | NS      | $15498.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Board of Trade                                   | COTTON NO.2 FUTR  Mar26                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        -679 | NC      | $-93171.65    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS 08/01/25 5.5C                                                        | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           2 | NC      | $128.00       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Oceaneering International Inc                             | Oceaneering International Inc                                                    | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-33152.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL FUT SEP 25 90C                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          63 | NC      | $11340.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Thames Water Super Senior Issuer PLC                      | THAMES WATER SUPER SEN 9.75 10/10/27 144A                                        | CUSIP: 000000000<br>LEI: 635400LBEYCV7F4FC741 | Long             | DBT              | CORP              | GB        |      159812 | PA      | $240293.45    | 0.01%             | 2027-10-10      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Dynavax Technologies Corp                                 | Dynavax Technologies Corp                                                        | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |       22600 | NS      | $224192.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Flywire Corp                                              | Flywire Corp                                                                     | CUSIP: 302492103<br>LEI: 54930055DSV7NNY4VY66 | Long             | EC               | CORP              | US        |       74372 | NS      | $870152.40    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Firefly Neuroscience Inc                                  | Firefly Neuroscience Inc                                                         | CUSIP: 317970101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2000 | NS      | $-5660.00     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| SentinelOne Inc                                           | SentinelOne Inc                                                                  | CUSIP: 81730H109<br>LEI: 984500DCD44DBF954221 | Long             | EC               | CORP              | US        |        6900 | NS      | $126132.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Trip.com Group Ltd                                        | Trip.com Group Ltd                                                               | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | US        |         500 | NS      | $29320.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| NCR Voyix Corp                                            | NCR Voyix Corp                                                                   | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Short            | EC               | CORP              | US        |       -3700 | NS      | $-43401.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Knowles Corp                                              | Knowles Corp                                                                     | CUSIP: 49926D109<br>LEI: 5493003EO323TDZQU148 | Short            | EC               | CORP              | US        |        -500 | NS      | $-8810.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Helios Technologies Inc                                   | Helios Technologies Inc                                                          | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |         400 | NS      | $13348.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bear Stearns Alt-A Trust                                  | Bear Stearns ALT-A Trust 2005-10                                                 | CUSIP: 07386HZP9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      386699 | PA      | $241139.33    | 0.01%             | 2036-01-25      | Variable      | 4.85%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |     1251205 | PA      | $1251205.05   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| G-III Apparel Group Ltd                                   | G-III Apparel Group Ltd                                                          | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |         300 | NS      | $6720.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Credit Suisse First Boston Mortgage Securities            | CSFB Mortgage-Backed Pass-Through Certificates Series 2004-8                     | CUSIP: 22541SZ68<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      334124 | PA      | $244924.59    | 0.01%             | 2034-12-25      | Variable      | 5.59%                 | No            | 2                  | On Loan: No      |
| Vivos Therapeutics Inc                                    | Vivos Therapeutics Inc                                                           | CUSIP: 92859E207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2200 | NS      | $-6952.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| International Paper Co                                    | International Paper Co                                                           | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Short            | EC               | CORP              | US        |        -300 | NS      | $-14049.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137F84K6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1000000 | PA      | $115315.00    | 0.00%             | 2049-01-25      | Variable      | 2.72%                 | No            | 2                  | On Loan: No      |
| Instil Bio Inc                                            | Instil Bio Inc                                                                   | CUSIP: 45783C200<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -600 | NS      | $-12498.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Community West Bancshares                                 | Community West Bancshares                                                        | CUSIP: 203937107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $1951.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Seer Inc                                                  | Seer Inc                                                                         | CUSIP: 81578P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7800 | NS      | $16692.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Smith & Wesson Brands Inc                                 | Smith & Wesson Brands Inc                                                        | CUSIP: 831754106<br>LEI: 5493004PFHUPOR1PWN79 | Long             | EC               | CORP              | US        |        3500 | NS      | $30380.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Huntington Bancshares Inc/OH                              | Huntington Bancshares Inc/OH                                                     | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Short            | EC               | CORP              | US        |     -932988 | NS      | $-15636878.88 | -0.42%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | E-Mini Russ 2000  Sep25                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               |  | US        |          -1 | NC      | $-4558.33     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Singapore Exchange Derivatives Clearing Ltd.              | SGX IRON ORE 62% AUG 25 97.5P                                                    | CUSIP: 000000000<br>LEI: 549300ZLWT3FK3F0FW61 | N/A              | DCO              |  | SG        |          82 | NC      | $36162.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SouthState Corp                                           | SouthState Corp                                                                  | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Short            | EC               | CORP              | US        |      -67214 | NS      | $-6185704.42  | -0.16%            |  |  |  | No            | 1                  | On Loan: No      |
| Bear Stearns Alt-A Trust                                  | Bear Stearns ALT-A Trust 2006-4                                                  | CUSIP: 073871AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      234013 | PA      | $194423.67    | 0.01%             | 2036-08-25      | Floating      | 4.75%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT CNH/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CN        |           1 | NC      | $35107.76     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| MHC Commercial Mortgage Trust                             | MHC Trust 2021-MHC2                                                              | CUSIP: 55293AAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      876000 | PA      | $873201.18    | 0.02%             | 2038-05-15      | Floating      | 6.83%                 | No            | 2                  | On Loan: No      |
| Open Lending Corp                                         | Open Lending Corp                                                                | CUSIP: 68373J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       19400 | NS      | $37636.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ServiceNow Inc                                            | ServiceNow Inc                                                                   | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Short            | EC               | CORP              | US        |       -1500 | NS      | $-1542120.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Kimball Electronics Inc                                   | Kimball Electronics Inc                                                          | CUSIP: 49428J109<br>LEI: 549300COBYN2GZCBIU87 | Long             | EC               | CORP              | US        |         700 | NS      | $13461.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Trade Desk Inc/The                                        | Trade Desk Inc/The                                                               | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Short            | EC               | CORP              | US        |      -19900 | NS      | $-1432601.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Prothena Corp. PLC                                        | PROTHENA CORP PLC                                                                | CUSIP: 000000000<br>LEI: 5299009ZXQ8NIIJ8OL30 | Long             | EC               | CORP              | IE        |        1100 | NS      | $6677.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                     | Wells Fargo Commercial Mortgage Trust 2016-NXS5                                  | CUSIP: 95000CAJ2<br>LEI: 549300SGFUCMB43V8P22 | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $60121.60     | 0.00%             | 2059-01-15      | Variable      | 5.12%                 | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | DAX INDEX FUTURE  Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |          20 | NC      | $206553.53    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division          | ICE 3MTH SONIA DEC 26                                                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              |  | US        |         132 | NC      | $31846.10     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| APA Corp                                                  | APA Corp                                                                         | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |       23337 | NS      | $426833.73    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| American Express Co                                       | American Express Co                                                              | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Short            | EC               | CORP              | US        |      -23599 | NS      | $-7527609.02  | -0.20%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT JAN27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          30 | NC      | $93825.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (720) JUN 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |          55 | NC      | $-302084.81   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD AUD/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-36804.84    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Centrus Energy Corp                                       | Centrus Energy Corp                                                              | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |         800 | NS      | $146544.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cato Corp/The                                             | Cato Corp/The                                                                    | CUSIP: 149205106<br>LEI: 529900R4SJUY7GCUU865 | Long             | EC               | CORP              | US        |        1500 | NS      | $4215.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | US ULTRA BOND CBT Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |          19 | NC      | $91921.87     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sonic Automotive Inc                                      | Sonic Automotive Inc                                                             | CUSIP: 83545G102<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | EC               | CORP              | US        |         100 | NS      | $7993.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Toorak Mortgage Corp.                                     | TRK 2022-INV1 Trust                                                              | CUSIP: 872635AF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $62048.70     | 0.00%             | 2057-02-25      | Variable      | 3.99%                 | No            | 2                  | On Loan: No      |
| Alvotech SA                                               | Alvotech SA                                                                      | CUSIP: 000000000<br>LEI: 222100DCZBOWV5DZ8372 | Short            | EC               | CORP              | LU        |       -1400 | NS      | $-12768.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD GBP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-4923.95     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Madrigal Pharmaceuticals Inc                              | Madrigal Pharmaceuticals Inc                                                     | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Short            | EC               | CORP              | US        |       -7500 | NS      | $-2269800.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Structured Asset Securities Corporation                   | Structured Asset Securities Corp Mortgage Pass-Through Ctfs Ser 2003 26A         | CUSIP: 86359AU84<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      176305 | PA      | $124095.08    | 0.00%             | 2033-09-25      | Variable      | 5.24%                 | No            | 2                  | On Loan: No      |
| Asbury Automotive Group Inc                               | Asbury Automotive Group Inc                                                      | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Short            | EC               | CORP              | US        |        -800 | NS      | $-190832.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | GAS OIL DEC 25                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -90 | NC      | $373250.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Dec 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |      200000 | OU      | $4896.47      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.826% 04/10/2035 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     2600000 | OU      | $-26449.36    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Health Care Select Sector SPDR Fund                       | Health Care Select Sector SPDR Fund                                              | CUSIP: 81369Y209<br>LEI: 549300EJNY3KKJHPOY44 | Short            | EC               | RF                | US        |       -1587 | NS      | $-213911.73   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Charles Schwab Corp/The                                   | Charles Schwab Corp/The                                                          | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |       70014 | NS      | $6388077.36   | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Vor BioPharma Inc                                         | Vor BioPharma Inc                                                                | CUSIP: 929033108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -21200 | NS      | $-34344.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Onestream Inc                                             | Onestream Inc                                                                    | CUSIP: 68278B107<br>LEI: 254900CRBCHIYDC37W82 | Short            | EC               | CORP              | US        |        -400 | NS      | $-11320.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TriMas Corp                                               | TriMas Corp                                                                      | CUSIP: 896215209<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | EC               | CORP              | US        |         400 | NS      | $11444.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Paramount Global                                          | Paramount Global                                                                 | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Short            | EC               | CORP              | US        |      -15700 | NS      | $-202530.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | SOLD TRY/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-82651.35    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Equinor ASA                                               | Equinor ASA                                                                      | CUSIP: 000000000<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |        8563 | NS      | $216250.38    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| TIC Home Improvement Trust                                | TIC Home Improvement Trust 2024-A                                                | CUSIP: 87252DAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      252000 | PA      | $246329.75    | 0.01%             | 2046-10-15      | Fixed         | 7.89%                 | No            | 2                  | On Loan: No      |
| Vornado Realty Trust                                      | Vornado Realty Trust                                                             | CUSIP: 929042109<br>LEI: N/A                  | Short            | EC               |  | US        |      -17500 | NS      | $-669200.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Ermenegildo Zegna NV                                      | Ermenegildo Zegna NV                                                             | CUSIP: 000000000<br>LEI: 8156003760472AA7E269 | Long             | EC               | CORP              | NL        |        1500 | NS      | $12825.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GeneDx Holdings Corp                                      | GeneDx Holdings Corp                                                             | CUSIP: 81663L200<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -6900 | NS      | $-636939.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT MAR 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-27225.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |      749884 | PA      | $749883.51    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| AdaptHealth Corp                                          | AdaptHealth Corp                                                                 | CUSIP: 00653Q102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1900 | NS      | $-17917.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Upstart Securitization Trust                              | Upstart Securitization Trust 2025-2                                              | CUSIP: 91679EAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      918000 | PA      | $924039.52    | 0.02%             | 2035-06-20      | Fixed         | 8.00%                 | No            | N/A                | On Loan: No      |
| MidOcean Credit CLO                                       | MidOcean Credit CLO XVIII LLC                                                    | CUSIP: 59803MAA4<br>LEI: 549300XSCUX0ONI5KZ96 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1000000.00   | 0.03%             | 2035-10-18      | Floating      | 0.00%                 | No            | N/A                | On Loan: No      |
| CFG Investments Limited                                   | CFG Investments Ltd                                                              | CUSIP: 12528GAP7<br>LEI: 549300C3OD89QRWQ1Y92 | Long             | ABS-O            | CORP              | KY        |      400000 | PA      | $399942.00    | 0.01%             | 2036-03-25      | Fixed         | 12.72%                | No            | 2                  | On Loan: No      |
| Bioxcel Therapeutics Inc                                  | Bioxcel Therapeutics Inc                                                         | CUSIP: 09075P204<br>LEI: 549300Y25FYZ0E8LW260 | Short            | EC               | CORP              | US        |        -192 | NS      | $-347.52      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ICNQ Mortgage Trust                                       | ICNQ 2024-MF Mortgage Trust                                                      | CUSIP: 450953AL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1827000 | PA      | $1836175.19   | 0.05%             | 2034-12-10      | Variable      | 6.56%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT NOV26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         690 | NC      | $1267412.70   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Sight Sciences Inc                                        | Sight Sciences Inc                                                               | CUSIP: 82657M105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-1239.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Aspen Insurance Holdings Ltd                              | Aspen Insurance Holdings Ltd                                                     | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EC               | CORP              | BM        |       12071 | NS      | $379874.37    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Prestige Consumer Healthcare Inc                          | Prestige Consumer Healthcare Inc                                                 | CUSIP: 74112D101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-15970.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Seacoast Banking Corp of Florida                          | Seacoast Banking Corp of Florida                                                 | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |      384890 | NS      | $10630661.80  | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.842% 03/05/2035 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -300000 | OU      | $3603.95      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Veeco Instruments Inc                                     | Veeco Instruments Inc                                                            | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |        2630 | NS      | $53441.60     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Potbelly Corp                                             | Potbelly Corp                                                                    | CUSIP: 73754Y100<br>LEI: 54930027NUULUR2P5W11 | Long             | EC               | CORP              | US        |         400 | NS      | $4900.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT SEP 25 3.25P                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          10 | NC      | $20030.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Safe Bulkers Inc                                          | Safe Bulkers Inc                                                                 | CUSIP: 000000000<br>LEI: 549300V6ZM2HJJYQQO85 | Long             | EC               | CORP              | MH        |        4600 | NS      | $16606.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                                    | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |      251000 | PA      | $246296.67    | 0.01%             | 2029-02-20      | Fixed         | 5.38%                 | Yes           | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEAN OIL FUTR  Jan26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        1080 | NC      | $-1652784.60  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | TOTAL SE-SPON ADR CFD                                                            | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | FR        |     -117535 | OU      | $-210.98      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Business First Bancshares Inc                             | Business First Bancshares Inc                                                    | CUSIP: 12326C105<br>LEI: 549300ILTC50KHDX4A08 | Long             | EC               | CORP              | US        |         600 | NS      | $14790.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CONTRA CVR SESEN BIO                                      | CONTRA CVR SESEN BIO                                                             | CUSIP: 817CVR038<br>LEI: 549300DGKHONOZQIY116 | Short            | EC               | CORP              | US        |      -25568 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| StealthGas Inc                                            | StealthGas Inc                                                                   | CUSIP: 000000000<br>LEI: 549300JCJUO3WBVVKJ89 | Long             | EC               | CORP              | MH        |        3800 | NS      | $24358.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Korea Exchange (Futures Market)                           | KOSPI2 INX FUT    Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KR        |          -3 | NC      | $-16977.25    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Invivyd Inc                                               | Invivyd Inc                                                                      | CUSIP: 00534A102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -16000 | NS      | $-11440.04    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2004-4CB                                                  | CUSIP: 12667FCQ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      155467 | PA      | $119337.52    | 0.00%             | 2034-04-25      | Variable      | 5.68%                 | No            | 2                  | On Loan: No      |
| Credo Technology Group Holding Ltd                        | Credo Technology Group Holding Ltd                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |       26300 | NS      | $2435117.00   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| SOBHA SUKUK LTD                                           | Sobha Sukuk Ltd                                                                  | CUSIP: 000000000<br>LEI: 5493000HMN2AOHV8GU08 | Long             | DBT              | CORP              | KY        |     2000000 | PA      | $2043630.98   | 0.05%             | 2029-02-19      | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JUL 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           4 | NC      | $-2920.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Extra Space Storage Inc                                   | Extra Space Storage Inc                                                          | CUSIP: 30225T102<br>LEI: N/A                  | Short            | EC               |  | US        |      -11800 | NS      | $-1739792.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Kairos Pharma Ltd                                         | Kairos Pharma Ltd                                                                | CUSIP: 48301N104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          35 | NS      | $24.82        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rapport Therapeutics Inc                                  | Rapport Therapeutics Inc                                                         | CUSIP: 75383L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $1137.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Flowco Holdings Inc                                       | Flowco Holdings Inc                                                              | CUSIP: 342909108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       12570 | NS      | $223871.70    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Cogent Biosciences Inc                                    | Cogent Biosciences Inc                                                           | CUSIP: 19240Q201<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1500 | NS      | $-10770.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Snowflake Inc                                             | Snowflake Inc                                                                    | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |       62800 | NS      | $14052756.00  | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.845% 06/07/2027 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    10000000 | OU      | $-22151.09    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Playtika Holding Corp                                     | Playtika Holding Corp                                                            | CUSIP: 72815L107<br>LEI: 254900E35Z4TKA4UFG64 | Long             | EC               | CORP              | US        |        7700 | NS      | $36421.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AerCap Holdings NV                                        | AerCap Holdings NV                                                               | CUSIP: 000000000<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |        5600 | NS      | $655200.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | NVIDIA CORP OTC 01/16/26 210C                                                    | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |         -15 | NC      | $-8240.29     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Meta Platforms Inc                                        | Meta Platforms Inc                                                               | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |        2436 | NS      | $1797987.24   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Agree Realty Corp                                         | Agree Realty Corp                                                                | CUSIP: 008492100<br>LEI: N/A                  | Short            | EC               |  | US        |       -2409 | NS      | $-176001.54   | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEAN MEAL DEC 25                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |         933 | NC      | $-823720.16   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| DigitalBridge Group Inc                                   | DigitalBridge Group Inc                                                          | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Short            | EC               | CORP              | US        |       -4406 | NS      | $-45602.10    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| nLight Inc                                                | nLight Inc                                                                       | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $1968.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ross Stores Inc                                           | Ross Stores Inc                                                                  | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |        3807 | NS      | $485697.06    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Gannett Co Inc                                            | Gannett Co Inc                                                                   | CUSIP: 36472T109<br>LEI: 549300JQ2PU0RI3ZBA32 | Long             | EC               | CORP              | US        |        1900 | NS      | $6802.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 0.9775% 03/25/2030 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    -3000000 | OU      | $-345480.60   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| ASX Clear (Futures)                                       | AUST 10Y BOND FUT Sep25                                                          | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DIR              |  | AU        |         309 | NC      | $46267.42     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | NASDAQ INC CFD                                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -7965204 | OU      | $-63549.09    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Silicom Ltd                                               | Silicom Ltd                                                                      | CUSIP: 000000000<br>LEI: 529900711TW6GY85XW07 | Long             | EC               | CORP              | IL        |         400 | NS      | $6272.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LivePerson Inc                                            | LivePerson Inc                                                                   | CUSIP: 538146101<br>LEI: 549300IN2P1JZ20G7N40 | Long             | EC               | CORP              | US        |       10400 | NS      | $10504.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD GBP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-526354.76   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Ardelyx Inc                                               | Ardelyx Inc                                                                      | CUSIP: 039697107<br>LEI: 549300F542QR4SXHCY32 | Long             | EC               | CORP              | US        |       18300 | NS      | $71736.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pikes Peak CLO                                            | Pikes Peak CLO 10                                                                | CUSIP: 72132JAE8<br>LEI: 5493003SA5I7NBQCGD83 | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $999253.00    | 0.03%             | 2038-01-22      | Floating      | 10.17%                | No            | 2                  | On Loan: No      |
| Viking Holdings Ltd                                       | Viking Holdings Ltd                                                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | BM        |       -6106 | NS      | $-325388.74   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| POET Technologies Inc                                     | POET Technologies Inc                                                            | CUSIP: 73044W302<br>LEI: 529900HTWKO62IAAQD05 | Short            | EC               | CORP              | CA        |       -2600 | NS      | $-13546.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LENZ Therapeutics Inc                                     | LENZ Therapeutics Inc                                                            | CUSIP: 52635N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         128 | NS      | $3751.68      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                                  | Brand Industrial Services Inc                                                    | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |     1748000 | PA      | $1612768.31   | 0.04%             | 2030-08-01      | Fixed         | 10.38%                | No            | 2                  | On Loan: No      |
| Capital City Bank Group Inc                               | Capital City Bank Group Inc                                                      | CUSIP: 139674105<br>LEI: 254900NVLVUJQZKTQE82 | Long             | EC               | CORP              | US        |         300 | NS      | $11805.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Prospect Capital Corp                                     | Prospect Capital Corp                                                            | CUSIP: 74348T102<br>LEI: 549300FSD8T39P5Q0O47 | Long             | EC               | CORP              | US        |       49200 | NS      | $156456.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sprott Inc                                                | Sprott Inc                                                                       | CUSIP: 852066208<br>LEI: 254900QHJAD5TP2JNM15 | Long             | EC               | CORP              | CA        |         100 | NS      | $6909.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT FEB 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-114500.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Atomera Inc                                               | Atomera Inc                                                                      | CUSIP: 04965B100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -500 | NS      | $-2520.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TG Therapeutics Inc                                       | TG Therapeutics Inc                                                              | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |         400 | NS      | $14396.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fluor Corp                                                | Fluor Corp                                                                       | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Short            | EC               | CORP              | US        |       -5400 | NS      | $-276858.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.607269% 03/19/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     1900000 | OU      | $72773.85     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Blade Air Mobility Inc                                    | Blade Air Mobility Inc                                                           | CUSIP: 092667104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -5700 | NS      | $-22971.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Urban Edge Properties                                     | Urban Edge Properties                                                            | CUSIP: 91704F104<br>LEI: N/A                  | Short            | EC               |  | US        |       -2600 | NS      | $-48516.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| First Solar Inc                                           | First Solar Inc                                                                  | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |        2088 | NS      | $345647.52    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-16CB                                                 | CUSIP: 02152AAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2126005 | PA      | $695922.25    | 0.02%             | 2037-08-25      | Floating      | 4.88%                 | No            | 2                  | On Loan: No      |
| Waste Connections Inc                                     | Waste Connections Inc                                                            | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |        3219 | NS      | $601051.68    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Starwood Mortgage Residential Trust                       | Starwood Mortgage Residential Trust 2021-3                                       | CUSIP: 85573JAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $71814.30     | 0.00%             | 2056-06-25      | Variable      | 3.35%                 | No            | 2                  | On Loan: No      |
| PureCycle Technologies Inc                                | PureCycle Technologies Inc                                                       | CUSIP: 74623V103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -23800 | NS      | $-326060.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Telephone and Data Systems Inc                            | Telephone and Data Systems Inc                                                   | CUSIP: 879433829<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -24500 | NS      | $-871710.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Northrop Grumman Corp                                     | Northrop Grumman Corp                                                            | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Short            | EC               | CORP              | US        |        -114 | NS      | $-56997.72    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Transcat Inc                                              | Transcat Inc                                                                     | CUSIP: 893529107<br>LEI: 54930081E40TSSHUOS40 | Long             | EC               | CORP              | US        |         100 | NS      | $8596.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| DC Office Trust                                           | DC Office Trust 2019-MTC                                                         | CUSIP: 23312BAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    64579000 | PA      | $361836.14    | 0.01%             | 2045-09-15      | Variable      | 0.21%                 | No            | 2                  | On Loan: No      |
| Sibanye Stillwater Ltd                                    | Sibanye Stillwater Ltd                                                           | CUSIP: 82575P107<br>LEI: 378900F238434B74D281 | Long             | EC               | CORP              | ZA        |       78800 | NS      | $568936.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| The Montreal Exchange/Bourse De Montreal                  | S&P/TSX 60 IX FUT Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | CA        |          23 | NC      | $64937.03     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Abivax SA                                                 | Abivax SA                                                                        | CUSIP: 00370M103<br>LEI: 969500D8TMNB184OJU95 | Short            | EC               | CORP              | FR        |        -300 | NS      | $-2295.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Jumia Technologies AG                                     | Jumia Technologies AG                                                            | CUSIP: 48138M105<br>LEI: 391200JWCL5VCOSXNT56 | Short            | EC               | CORP              | DE        |       -7900 | NS      | $-31758.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Commodities Exchange Center                               | SILVER 09/01/25 35.5C                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          37 | NC      | $331335.00    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Church & Dwight Co Inc                                    | Church & Dwight Co Inc                                                           | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Short            | EC               | CORP              | US        |       -2200 | NS      | $-211442.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Angi Inc                                                  | Angi Inc                                                                         | CUSIP: 00183L201<br>LEI: 5493003ENY577E6SZL06 | Short            | EC               | CORP              | US        |       -8910 | NS      | $-135966.60   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-19CB                                                 | CUSIP: 02147QAU6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      545452 | PA      | $245128.17    | 0.01%             | 2036-08-25      | Floating      | 5.23%                 | No            | 2                  | On Loan: No      |
| Sarepta Therapeutics Inc                                  | Sarepta Therapeutics Inc                                                         | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |       23500 | NS      | $401850.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuvve Holding Corp                                        | Nuvve Holding Corp                                                               | CUSIP: 67079Y308<br>LEI: 5299004MEFX6GLLWU560 | Long             | EC               | CORP              | US        |           2 | NS      | $1.90         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS SWAP NOV 25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -28 | NC      | $-5090.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hilton USA Trust                                          | Hilton USA Trust 2016-HHV                                                        | CUSIP: 43300LAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    11467000 | PA      | $11017470.67  | 0.29%             | 2038-11-05      | Variable      | 4.33%                 | No            | 2                  | On Loan: No      |
| Aterian Inc                                               | Aterian Inc                                                                      | CUSIP: 02156U200<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-498.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Block Inc                                                 | Block Inc                                                                        | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Short            | EC               | CORP              | US        |      -21400 | NS      | $-1453702.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| AC Immune SA                                              | AC Immune SA                                                                     | CUSIP: 000000000<br>LEI: 967600VLQ0ZC2HSOG765 | Long             | EC               | CORP              | CH        |         200 | NS      | $406.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bear Stearns Alt-A Trust                                  | Bear Stearns ALT-A Trust 2006-1                                                  | CUSIP: 07386HB26<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1132632 | PA      | $974424.03    | 0.03%             | 2036-02-25      | Floating      | 5.07%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | US 10yr Ultra Fut Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         189 | NC      | $459368.18    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| CNS Pharmaceuticals Inc                                   | CNS Pharmaceuticals Inc                                                          | CUSIP: 18978H409<br>LEI: 529900FDJ7WGF2Q7UN44 | Short            | EC               | CORP              | US        |       -1791 | NS      | $-1477.60     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | CBOE SPX VOLATILITY INDX JUL 25 17P                                              | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |       -2402 | NC      | $-74462.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |      258745 | PA      | $258744.70    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Sanmina Corp                                              | Sanmina Corp                                                                     | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Short            | EC               | CORP              | US        |        -900 | NS      | $-88047.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CarMax Inc                                                | CarMax Inc                                                                       | CUSIP: 143130102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         800 | NS      | $53768.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Starwood Mortgage Residential Trust 2020-INV1             | Starwood Mortgage Residential Trust 2020-INV                                     | CUSIP: 85573EAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      123000 | PA      | $112205.40    | 0.00%             | 2055-11-25      | Fixed         | 3.26%                 | No            | 2                  | On Loan: No      |
| ArcBest Corp                                              | ArcBest Corp                                                                     | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |         600 | NS      | $46206.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ASGARD FIXED INCOME RSK PREMIA                            | ASGARD FIXED INCOME RSK PREMIA                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      116686 | NS      | $169883346.60 | 4.52%             |  |  |  | No            | N/A                | On Loan: No      |
| Clearwater Paper Corp                                     | Clearwater Paper Corp                                                            | CUSIP: 18538R103<br>LEI: 549300HCVV19GXN4P292 | Long             | EC               | CORP              | US        |         800 | NS      | $21792.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-41CB                                                 | CUSIP: 02149CAX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1104176 | PA      | $451700.80    | 0.01%             | 2037-01-25      | Floating      | 5.03%                 | No            | 2                  | On Loan: No      |
| CPS Auto Trust                                            | Consumer Portfolio Services Auto Trust 2025-B                                    | CUSIP: 12630SAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1080000 | PA      | $1118820.60   | 0.03%             | 2033-03-15      | Fixed         | 7.95%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         713 | NC      | $435505.62    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS JUL 25 6C                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          29 | NC      | $1218.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (744) JUL 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |          55 | NC      | $-306852.11   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Egypt Government International Bonds                      | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      539000 | PA      | $447580.83    | 0.01%             | 2050-05-29      | Fixed         | 8.88%                 | Yes           | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | GLOBEX NATURL GAS SEP25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -13 | NC      | $61540.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MICROSTRATEGY INC                                         | MicroStrategy Inc                                                                | CUSIP: 594972AR2<br>LEI: 549300WQTWEJUEHXQX21 | Long             | DBT              | CORP              | US        |      700000 | PA      | $660450.00    | 0.02%             | 2029-12-01      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| Toyota Motor Corp                                         | Toyota Motor Corp                                                                | CUSIP: 892331307<br>LEI: 5493006W3QUS5LMH6R84 | Short            | EC               | CORP              | JP        |      -13500 | NS      | $-2325510.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| ARMOUR Residential REIT Inc                               | ARMOUR Residential REIT Inc                                                      | CUSIP: 042315705<br>LEI: 549300K0WA0EJUX74V72 | Long             | EC               |  | US        |          40 | NS      | $672.40       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     2442674 | PA      | $2442674.13   | 0.07%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | MSSVAS1 SWAP                                                                     | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |    -2284244 | OU      | $-116225.09   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 35C                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         275 | NC      | $174625.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Signal Peak CLO, LLC                                      | Signal Peak CLO 5 Ltd                                                            | CUSIP: 82666VAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1006701.00   | 0.03%             | 2037-04-25      | Floating      | 8.48%                 | No            | 2                  | On Loan: No      |
| Kronos Worldwide Inc                                      | Kronos Worldwide Inc                                                             | CUSIP: 50105F105<br>LEI: 549300OBZ34C65APL277 | Long             | EC               | CORP              | US        |         200 | NS      | $1240.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Amentum Holdings Inc                                      | Amentum Holdings Inc                                                             | CUSIP: 023939101<br>LEI: 2549009FJIBLW40CU216 | Short            | EC               | CORP              | US        |       -1109 | NS      | $-26183.49    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Host Hotels & Resorts Inc                                 | Host Hotels & Resorts Inc                                                        | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Short            | EC               |  | US        |     -169298 | NS      | $-2600417.28  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Dec 2026 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     8300000 | OU      | $81513.29     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| KE Holdings Inc                                           | KE Holdings Inc                                                                  | CUSIP: 482497104<br>LEI: 254900RHVY072XPAZE03 | Short            | EC               | CORP              | KY        |      -85700 | NS      | $-1520318.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | ONESTREAM INC CFD                                                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -2483442 | OU      | $-57530.18    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Day One Biopharmaceuticals Inc                            | Day One Biopharmaceuticals Inc                                                   | CUSIP: 23954D109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-650.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Biomea Fusion Inc                                         | Biomea Fusion Inc                                                                | CUSIP: 09077A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7500 | NS      | $13500.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GSAA Home Equity Trust                                    | GSAA Home Equity Trust 2006-8                                                    | CUSIP: 362348AT1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1527000 | PA      | $304242.53    | 0.01%             | 2036-05-25      | Floating      | 4.99%                 | No            | 2                  | On Loan: No      |
| Applied DNA Sciences Inc                                  | Applied DNA Sciences Inc                                                         | CUSIP: 03815U607<br>LEI: 549300PCOT1RLQ23DL21 | Long             | EC               | CORP              | US        |           1 | NS      | $5.15         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| BRASKEM IDESA SAPI                                        | Braskem Idesa SAPI                                                               | CUSIP: 000000000<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |     4037000 | PA      | $2973250.50   | 0.08%             | 2029-11-15      | Fixed         | 7.45%                 | Yes           | 2                  | On Loan: No      |
| AN2 Therapeutics Inc                                      | AN2 Therapeutics Inc                                                             | CUSIP: 037326105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3100 | NS      | $3286.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kura Sushi USA Inc                                        | Kura Sushi USA Inc                                                               | CUSIP: 501270102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $25824.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD KRW/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-222072.78   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Playstudios Inc                                           | Playstudios Inc                                                                  | CUSIP: 72815G108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4500 | NS      | $5895.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT OCT27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $325.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ICL Group Ltd                                             | ICL Group Ltd                                                                    | CUSIP: 000000000<br>LEI: 529900FQVQD88SHIGM04 | Short            | EC               | CORP              | IL        |       -4400 | NS      | $-30272.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Henry Schein Inc                                          | Henry Schein Inc                                                                 | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Short            | EC               | CORP              | US        |       -4100 | NS      | $-299505.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | HEIWA REAL ESTATE REIT INC CFD                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT NOV 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-52125.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Pinnacle Financial Partners Inc                           | Pinnacle Financial Partners Inc                                                  | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Short            | EC               | CORP              | US        |        -500 | NS      | $-55205.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| VTR COMUNICACIONES SPA                                    | VTR Comunicaciones SpA                                                           | CUSIP: 000000000<br>LEI: 213800XDZJKMC1AEUV94 | Long             | DBT              | CORP              | CL        |     2840000 | PA      | $2687971.11   | 0.07%             | 2028-01-15      | Fixed         | 5.13%                 | Yes           | 2                  | On Loan: No      |
| PennantPark Investment Corp                               | PennantPark Investment Corp                                                      | CUSIP: 708062104<br>LEI: 529900OK432R4C6NQQ73 | Long             | EC               | CORP              | US        |       14700 | NS      | $100548.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Amedisys Inc                                              | Amedisys Inc                                                                     | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Short            | EC               | CORP              | US        |       -1099 | NS      | $-108130.61   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fulgent Genetics Inc                                      | Fulgent Genetics Inc                                                             | CUSIP: 359664109<br>LEI: 549300CL6P01M68QJ404 | Long             | EC               | CORP              | US        |         700 | NS      | $13916.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT NOV 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $82925.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2015-CCRE22 Mortgage Trust                                                  | CUSIP: 12592XAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      239000 | PA      | $192196.15    | 0.01%             | 2048-03-10      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Brown & Brown Inc                                         | Brown & Brown Inc                                                                | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |      160618 | NS      | $17807717.66  | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Novusterra Inc                                            | Novusterra Inc                                                                   | CUSIP: 67012E104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -383 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| MultiSensor AI Holdings Inc                               | MultiSensor AI Holdings Inc                                                      | CUSIP: 456948108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1553 | NS      | $-928.74      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| C3.ai Inc                                                 | C3.ai Inc                                                                        | CUSIP: 12468P104<br>LEI: 549300YDLK0YQO5B1V80 | Short            | EC               | CORP              | US        |      -12000 | NS      | $-294840.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| PERSHING SQUARE SPARC HOLDINGS                            | PERSHING SQUARE SPARC HOLDINGS                                                   | CUSIP: 714920113<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | US        |      505024 | NS      | $0.05         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    42000000 | OU      | $1030971.69   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| IAMGOLD Corp                                              | IAMGOLD Corp                                                                     | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Short            | EC               | CORP              | CA        |        -400 | NS      | $-2940.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.2934% 04/08/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -500000 | OU      | $1800.73      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Ernexa Therapeutics Inc                                   | Ernexa Therapeutics Inc                                                          | CUSIP: 114082308<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -26 | NS      | $-47.84       | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Banc of America Mortgage Securities                       | Banc of America Mortgage 2004-F Trust                                            | CUSIP: 05949AJF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      199340 | PA      | $179016.54    | 0.00%             | 2034-07-25      | Variable      | 6.12%                 | No            | 2                  | On Loan: No      |
| CPI Card Group Inc                                        | CPI Card Group Inc                                                               | CUSIP: 12634H200<br>LEI: 54930087HHJ1VWIJK062 | Long             | EC               | CORP              | US        |         200 | NS      | $4744.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Townsquare Media Inc                                      | Townsquare Media Inc                                                             | CUSIP: 892231101<br>LEI: 549300XBA8C68H0DR538 | Long             | EC               | CORP              | US        |        2900 | NS      | $22939.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1      SEP25                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        -150 | NC      | $356947.50    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Regency Centers Corp                                      | Regency Centers Corp                                                             | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Short            | EC               |  | US        |       -2000 | NS      | $-142460.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Central Pacific Financial Corp                            | Central Pacific Financial Corp                                                   | CUSIP: 154760409<br>LEI: 549300W3YEAOZ4KGG849 | Long             | EC               | CORP              | US        |        2400 | NS      | $67272.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.9415% 09/02/2059 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -650000 | OU      | $-2935.35     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Dryden Senior Loan Fund                                   | Dryden 95 CLO Ltd                                                                | CUSIP: 262485AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $972223.00    | 0.03%             | 2034-08-20      | Floating      | 10.73%                | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT DEC 25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |          72 | NC      | $16989.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SO USD_SOFR_P_3.21_20540823_20340823_LCH                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $360188.46    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Bloomin' Brands Inc                                       | Bloomin' Brands Inc                                                              | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |       20400 | NS      | $175644.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | ALERIAN MLP ETN2044 CFD                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -4547632 | OU      | $11991.12     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.07425% 06/03/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -200000 | OU      | $-4392.91     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Citibank NA                                               | PING AN INSURANCE GROUP .875 07/22/29                                            | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              |  | CN        |      500000 | NC      | $22517.50     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Park Avenue Institutional Advisers CLO                    | Park Avenue Institutional Advisers CLO Ltd 2022-1                                | CUSIP: 70016DAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $998031.00    | 0.03%             | 2035-04-20      | Floating      | 11.56%                | No            | 2                  | On Loan: No      |
| Gorman-Rupp Co/The                                        | Gorman-Rupp Co/The                                                               | CUSIP: 383082104<br>LEI: 254900WVLPOIWPGJPA07 | Long             | EC               | CORP              | US        |         400 | NS      | $14688.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Hudbay Minerals Inc                                       | Hudbay Minerals Inc                                                              | CUSIP: 443628102<br>LEI: 894500LX3TMESP27BE29 | Short            | EC               | CORP              | CA        |      -15200 | NS      | $-161272.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.143% 09/08/2028 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    -4700000 | OU      | $-2312.16     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | JPMorgan Chase Bank NA                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | RA               | CORP              | US        |      673307 | PA      | $673306.69    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/26 50P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         294 | NC      | $-246120.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Aon PLC                                                   | Aon PLC                                                                          | CUSIP: 000000000<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |        5600 | NS      | $1997856.00   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| BX Trust                                                  | BX Commercial Mortgage Trust 2021-SOAR                                           | CUSIP: 05608WAU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      876738 | PA      | $876850.91    | 0.02%             | 2038-06-15      | Floating      | 8.18%                 | No            | 2                  | On Loan: No      |
| Aurora Cannabis Inc                                       | Aurora Cannabis Inc                                                              | CUSIP: 05156X850<br>LEI: 549300F6VHCLKCUWDT34 | Short            | EC               | CORP              | CA        |       -5800 | NS      | $-24592.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Biofrontera Inc                                           | Biofrontera Inc                                                                  | CUSIP: 09077D209<br>LEI: 984500444S8BE1EF0179 | Long             | EC               | CORP              | US        |          14 | NS      | $9.96         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | PRIMARY ALUMNM OP SEP 25 2100P                                                   | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          80 | NC      | $8140.00      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Dividend Solar Loans LLC                                  | Dividend Solar Loans 2018-1 LLC                                                  | CUSIP: 255396AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1604810 | PA      | $1489539.60   | 0.04%             | 2038-07-20      | Fixed         | 4.29%                 | No            | 2                  | On Loan: No      |
| US Foods Holding Corp                                     | US Foods Holding Corp                                                            | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Short            | EC               | CORP              | US        |       -8900 | NS      | $-685389.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| MNTN Inc                                                  | MNTN Inc                                                                         | CUSIP: 55318A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6518 | NS      | $142548.66    | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | MSSVPRMB SWAP                                                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -2597749 | OU      | $16249.19     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Seaport Entertainment Group Inc                           | Seaport Entertainment Group Inc                                                  | CUSIP: 812215200<br>LEI: 2549006G3SN205YAST27 | Short            | EC               | CORP              | US        |        -200 | NS      | $-3748.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Form Technologies LLC                                     | Form Technologies LLC 2025 Term Loan                                             | CUSIP: 34634FAF6<br>LEI: X7KHAIMGSSPZ1XIJIL51 | Long             | LON              | CORP              | US        |     1858564 | PA      | $1754019.39   | 0.05%             | 2030-07-19      | Floating      | 10.02%                | No            | 2                  | On Loan: No      |
| Agenus Inc                                                | Agenus Inc                                                                       | CUSIP: 00847G804<br>LEI: 529900NDQQGU5H4UJK81 | Short            | EC               | CORP              | US        |       -7175 | NS      | $-32789.75    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| GE Vernova Inc                                            | GE Vernova Inc                                                                   | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |        4700 | NS      | $2487005.00   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 0.708% 01/22/2026 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    12000000 | OU      | $315689.82    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT  AUG25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -58 | NC      | $82580.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rocket Cos Inc                                            | Rocket Cos Inc                                                                   | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       13300 | NS      | $188594.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| MILLENNIUM EQUITY                                         | MILLENNIUM EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       60879 | NS      | $2876532.71   | 0.08%             |  |  |  | No            | 3                  | On Loan: No      |
| Elastic NV                                                | Elastic NV                                                                       | CUSIP: 000000000<br>LEI: 2549003I48WHHH937I59 | Long             | EC               | CORP              | NL        |       24900 | NS      | $2099817.00   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Herbalife Ltd                                             | Herbalife Ltd                                                                    | CUSIP: 000000000<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | KY        |        6800 | NS      | $58616.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Newegg Commerce Inc                                       | Newegg Commerce Inc                                                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | VG        |       -1595 | NS      | $-25902.80    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SMX Security Matters PLC                                  | SMX Security Matters PLC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IE        |         -70 | NS      | $-296.80      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Gentex Corp                                               | Gentex Corp                                                                      | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Short            | EC               | CORP              | US        |       -5400 | NS      | $-118746.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Legend Biotech Corp                                       | Legend Biotech Corp                                                              | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |        8700 | NS      | $308763.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.5941% 02/04/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $-286.54      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Siemens AG                                                | Siemens AG                                                                       | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |        5188 | NS      | $1332580.27   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.5095% 11/04/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-4049.79     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| TETRA Technologies Inc                                    | TETRA Technologies Inc                                                           | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Short            | EC               | CORP              | US        |        -900 | NS      | $-3024.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Outfront Media Inc                                        | Outfront Media Inc                                                               | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Short            | EC               |  | US        |      -29996 | NS      | $-489534.72   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.753% 11/16/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -100000 | OU      | $-3215.49     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | CSAIL 2019-C17 Commercial Mortgage Trust                                         | CUSIP: 12597BAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1409000 | PA      | $1015641.01   | 0.03%             | 2052-09-15      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1      OCT25                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -93 | NC      | $119737.50    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Telos Corp                                                | Telos Corp                                                                       | CUSIP: 87969B101<br>LEI: 549300P7ZDPL8UWNVI47 | Long             | EC               | CORP              | US        |         300 | NS      | $951.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Brock Holdings III, Inc.                                  | Brock Holdings III, Inc. 2024 Term Loan B                                        | CUSIP: 000000000<br>LEI: 5493000L6QAVHKOAM302 | Long             | LON              | CORP              | US        |      348294 | PA      | $330008.79    | 0.01%             | 2030-05-02      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.6326% 10/18/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $6412.54      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Paysign Inc                                               | Paysign Inc                                                                      | CUSIP: 70451A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2800 | NS      | $20160.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SL Green Realty Corp                                      | SL Green Realty Corp                                                             | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Short            | EC               |  | US        |       -5751 | NS      | $-355986.90   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| LATAM AIRLINES GROUP SA                                   | Latam Airlines Group SA                                                          | CUSIP: 51817RAE6<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |      214000 | PA      | $214802.50    | 0.01%             | 2031-01-07      | Fixed         | 7.63%                 | No            | N/A                | On Loan: No      |
| RAPT Therapeutics Inc                                     | RAPT Therapeutics Inc                                                            | CUSIP: 75382E208<br>LEI: 549300MB473BIU78ES48 | Long             | EC               | CORP              | US        |         812 | NS      | $6496.00      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | GAS OIL (ICE) AUG 25                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         293 | NC      | $-965235.93   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| J Jill Inc                                                | J Jill Inc                                                                       | CUSIP: 46620W201<br>LEI: 529900I19PJIF8MIDL12 | Long             | EC               | CORP              | US        |         800 | NS      | $11712.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gossamer Bio Inc                                          | Gossamer Bio Inc                                                                 | CUSIP: 38341P102<br>LEI: 549300ZOC0N2W6PSFR58 | Long             | EC               | CORP              | US        |       29400 | NS      | $36162.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT BRL/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | BR        |           1 | NC      | $57783.92     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Sangamo Therapeutics Inc                                  | Sangamo Therapeutics Inc                                                         | CUSIP: 800677106<br>LEI: 2549006WMRKRC4G32Z67 | Long             | EC               | CORP              | US        |       25000 | NS      | $13532.51     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.79% 03/20/2035 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |     -200000 | OU      | $7366.45      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| American Public Education Inc                             | American Public Education Inc                                                    | CUSIP: 02913V103<br>LEI: 254900GZNX6TJQGM4S17 | Long             | EC               | CORP              | US        |         400 | NS      | $12184.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 40C                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          36 | NC      | $10296.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| American Resources Corp                                   | American Resources Corp                                                          | CUSIP: 02927U208<br>LEI: 549300X4SNBGP0DDRY09 | Short            | EC               | CORP              | US        |       -2200 | NS      | $-1822.49     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sotera Health Co                                          | Sotera Health Co                                                                 | CUSIP: 83601L102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1000 | NS      | $-11120.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Aldeyra Therapeutics Inc                                  | Aldeyra Therapeutics Inc                                                         | CUSIP: 01438T106<br>LEI: 529900HGKY864E4Y9014 | Short            | EC               | CORP              | US        |        -500 | NS      | $-1915.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Zions Bancorp NA                                          | Zions Bancorp NA                                                                 | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Short            | EC               | CORP              | US        |      -72618 | NS      | $-3771778.92  | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.7155% 09/08/2028 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     1000000 | OU      | $23545.44     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CACI International Inc                                    | CACI International Inc                                                           | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Short            | EC               | CORP              | US        |       -1000 | NS      | $-476700.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | UL SOLUTIONS INC - CLASS A CFD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -3239479 | OU      | $-31425.10    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Spire Global Inc                                          | Spire Global Inc                                                                 | CUSIP: 848560306<br>LEI: 549300EZFBLFFHJ5MF06 | Short            | EC               | CORP              | US        |         -50 | NS      | $-595.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SW (FINANCE) I PLC                                        | SW Finance I PLC                                                                 | CUSIP: 000000000<br>LEI: 549300BHN1HB5BNG2R96 | Long             | DBT              | CORP              | GB        |     2432000 | PA      | $3255087.44   | 0.09%             | 2026-03-31      | Fixed         | 6.64%                 | Yes           | 2                  | On Loan: No      |
| Firstsun Capital Bancorp                                  | Firstsun Capital Bancorp                                                         | CUSIP: 33767U107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1690 | NS      | $-58727.50    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nextdoor Holdings Inc                                     | Nextdoor Holdings Inc                                                            | CUSIP: 65345M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7900 | NS      | $13114.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.815% 09/25/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -300000 | OU      | $-1855.08     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      869741 | PA      | $869740.89    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| elf Beauty Inc                                            | elf Beauty Inc                                                                   | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Short            | EC               | CORP              | US        |       -8100 | NS      | $-1007964.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT NOV 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $175350.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cencora Inc                                               | Cencora Inc                                                                      | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       16500 | NS      | $4947525.00   | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                              | CUSIP: 71654QCP5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     2800000 | PA      | $2739993.49   | 0.07%             | 2029-01-23      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 APR 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $-19280.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.24838% 02/15/2075 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -720000 | OU      | $-7953.52     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Liberty Latin America Ltd                                 | Liberty Latin America Ltd                                                        | CUSIP: 000000000<br>LEI: 213800YWQHEAX7CAVO83 | Short            | EC               | CORP              | BM        |       -7500 | NS      | $-46650.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bakkt Holdings Inc                                        | Bakkt Holdings Inc                                                               | CUSIP: 05759B305<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -340 | NS      | $-4743.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      209406 | PA      | $209406.38    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Akoya Biosciences Inc                                     | Akoya Biosciences Inc                                                            | CUSIP: 00974H104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3400 | NS      | $-4420.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Clearfield Inc                                            | Clearfield Inc                                                                   | CUSIP: 18482P103<br>LEI: 529900M4S2OQ1ADPR537 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-69456.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MCLAREN RACING LIMITED WARRANT                            | MCLAREN RACING LIMITED WARRANT                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |       22935 | NS      | $4440686.59   | 0.12%             |  |  |  | No            | 3                  | On Loan: No      |
| Citibank NA                                               | BOUGHT TRY/SOLD USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | TR        |           1 | NC      | $81378.70     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Castle US Holding Corporation                             | Castle US Holding Corporation 2025 USD FLSO Term Loan B1                         | CUSIP: 14852DAJ0<br>LEI: 254900VXLMLPIE9ID612 | Long             | LON              | CORP              | US        |     6765139 | PA      | $3661631.71   | 0.10%             | 2030-05-31      | Floating      | 8.84%                 | No            | 2                  | On Loan: No      |
| Concentrix Corp                                           | Concentrix Corp                                                                  | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Short            | EC               | CORP              | US        |       -2600 | NS      | $-137422.99   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Oaktree Specialty Lending Corp                            | Oaktree Specialty Lending Corp                                                   | CUSIP: 67401P405<br>LEI: 549300J6MGCEU5928620 | Long             | EC               | CORP              | US        |          31 | NS      | $423.46       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sun Communities Inc                                       | Sun Communities Inc                                                              | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Short            | EC               |  | US        |        -900 | NS      | $-113841.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT ZAR/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | ZA        |           1 | NC      | $41717.66     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| WM Technology Inc                                         | WM Technology Inc                                                                | CUSIP: 92971A109<br>LEI: 549300APSNIYJ4PTIL34 | Long             | EC               | CORP              | US        |        9700 | NS      | $8691.19      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | ENERGY TRANSFER LP CFD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     7134851 | OU      | $198190.30    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Kaltura Inc                                               | Kaltura Inc                                                                      | CUSIP: 483467106<br>LEI: 254900WYME0NSA8DVA41 | Long             | EC               | CORP              | US        |         100 | NS      | $201.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Oportun Financial Corp                                    | Oportun Financial Corp                                                           | CUSIP: 68376D104<br>LEI: 549300351Y4J4FKIOR78 | Long             | EC               | CORP              | US        |        8600 | NS      | $61576.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Puma Biotechnology Inc                                    | Puma Biotechnology Inc                                                           | CUSIP: 74587V107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4500 | NS      | $15435.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Target Corp                                               | Target Corp                                                                      | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Short            | EC               | CORP              | US        |      -46400 | NS      | $-4577360.00  | -0.12%            |  |  |  | No            | N/A                | On Loan: No      |
| Penske Automotive Group Inc                               | Penske Automotive Group Inc                                                      | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |         200 | NS      | $34362.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BUYCDSMEXICO 100BPS ICE 20291220 CDS1.0%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | MX        |     1000000 | OU      | $-1025.27     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Zai Lab Ltd                                               | Zai Lab Ltd                                                                      | CUSIP: 98887Q104<br>LEI: 549300P2UYQ9U5LY1T58 | Long             | EC               | CORP              | KY        |         400 | NS      | $13988.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Xeris Biopharma Holdings Inc                              | Xeris Biopharma Holdings Inc                                                     | CUSIP: 98422E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       16864 | NS      | $78754.88     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlas Energy Solutions Inc                                | Atlas Energy Solutions Inc                                                       | CUSIP: 642045108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       44894 | NS      | $600232.78    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | MSSVJPBK SWAP                                                                    | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.88575% 12/19/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $248.91       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (743) MAR 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |        -110 | NC      | $399838.43    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Phinia Inc                                                | Phinia Inc                                                                       | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Short            | EC               | CORP              | US        |       -1400 | NS      | $-62286.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.50125% 10/18/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-4216.86     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT SEP 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-36900.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Monolithic Power Systems Inc                              | Monolithic Power Systems Inc                                                     | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Short            | EC               | CORP              | US        |       -2200 | NS      | $-1609036.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Schneider Electric SE                                     | Schneider Electric SE                                                            | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Short            | EC               | CORP              | FR        |        -330 | NS      | $-88600.06    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Heron Therapeutics Inc                                    | Heron Therapeutics Inc                                                           | CUSIP: 427746102<br>LEI: 549300DR2I1DOPD2IX53 | Long             | EC               | CORP              | US        |       10500 | NS      | $21735.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD GBP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-1909.75     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-11900.16    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Advance Auto Parts Inc                                    | Advance Auto Parts Inc                                                           | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |        7400 | NS      | $344026.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Option Care Health Inc                                    | Option Care Health Inc                                                           | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |        3200 | NS      | $103936.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Red Robin Gourmet Burgers Inc                             | Red Robin Gourmet Burgers Inc                                                    | CUSIP: 75689M101<br>LEI: 529900V6NUMBYX34LV46 | Long             | EC               | CORP              | US        |        1100 | NS      | $6369.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| First Horizon Alternative Mortgage Securities             | First Horizon Alternative Mortgage Securities Trust 2006-FA8                     | CUSIP: 32052DAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      730124 | PA      | $211554.87    | 0.01%             | 2037-02-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| Unitil Corp                                               | Unitil Corp                                                                      | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $10430.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LPL Financial Holdings Inc                                | LPL Financial Holdings Inc                                                       | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |        6651 | NS      | $2493925.47   | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| Impact BioMedical Inc                                     | Impact BioMedical Inc                                                            | CUSIP: 45259L205<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4100 | NS      | $-2653.52     | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| S&T Bancorp Inc                                           | S&T Bancorp Inc                                                                  | CUSIP: 783859101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $7564.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LeMaitre Vascular Inc                                     | LeMaitre Vascular Inc                                                            | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |         400 | NS      | $33220.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GS Mortgage-Backed Securities Trust                       | GS Mortgage-Backed Securities Corp Trust 2021-PJ1                                | CUSIP: 36261MAY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3678565 | PA      | $3007447.55   | 0.08%             | 2051-06-25      | Variable      | 2.75%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 AUG 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $-5720.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| STMicroelectronics NV                                     | STMicroelectronics NV                                                            | CUSIP: 861012102<br>LEI: 213800Z8NOHIKRI42W10 | Short            | EC               | CORP              | NL        |       -1140 | NS      | $-34667.40    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Devon Energy Corp                                         | Devon Energy Corp                                                                | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |          17 | NS      | $540.77       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JUN 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -53 | NC      | $466610.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Flatiron CLO Ltd                                          | Flatiron CLO 21 Ltd                                                              | CUSIP: 33883TAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2500000 | PA      | $2505715.00   | 0.07%             | 2037-10-19      | Floating      | 10.17%                | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 10/01/25 55P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |        -210 | NC      | $102900.00    | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/25 50P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         377 | NC      | $28980.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PSQ Holdings Inc                                          | PSQ Holdings Inc                                                                 | CUSIP: 693691107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -700 | NS      | $-1435.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Concentra Group Holdings Parent Inc                       | Concentra Group Holdings Parent Inc                                              | CUSIP: 20603L102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1500 | NS      | $-30855.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Geron Corp                                                | Geron Corp                                                                       | CUSIP: 374163103<br>LEI: 549300T282D7Z2YESL90 | Short            | EC               | CORP              | US        |      -49500 | NS      | $-69795.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Skyworks Solutions Inc                                    | Skyworks Solutions Inc                                                           | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |       16800 | NS      | $1251936.00   | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| Citibank NA                                               | LME COPPER CITI 06/03/26 12000C                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCO              |  | US        |        2639 | NC      | $525850.17    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| LuxExperience BV                                          | LuxExperience BV                                                                 | CUSIP: 55406W103<br>LEI: N/A                  | Short            | EC               | CORP              | NL        |        -900 | NS      | $-7146.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.46% 11/07/2039 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-5582.69     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Commodities Exchange Center                               | SILVER (5000) DEC 25                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          10 | NC      | $-24290.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Vigil Neuroscience Inc                                    | Vigil Neuroscience Inc                                                           | CUSIP: 92673K108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -700 | NS      | $-5565.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| HSBC Bank PLC                                             | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |           1 | NC      | $-198387.39   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      309861 | PA      | $309860.94    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | S&P500 EMINI FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |         -37 | NC      | $-314272.66   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | EURO STOXX 50     Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |          48 | NC      | $13098.80     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Comtech Telecommunications Corp                           | Comtech Telecommunications Corp                                                  | CUSIP: 205826209<br>LEI: 529900FTEZ8MGM0Y8F73 | Long             | EC               | CORP              | US        |        1800 | NS      | $4410.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Texas Instruments Inc                                     | Texas Instruments Inc                                                            | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Short            | EC               | CORP              | US        |        -452 | NS      | $-93844.24    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Kimco Realty Corp                                         | Kimco Realty Corp                                                                | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Short            | EC               |  | US        |        -200 | NS      | $-4204.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | SERVICETITAN INC-A CFD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -3850433 | OU      | $1063.59      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Radware Ltd                                               | Radware Ltd                                                                      | CUSIP: 000000000<br>LEI: 254900LYRZOTBQ99ZG59 | Long             | EC               | CORP              | IL        |        1200 | NS      | $35328.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Jun 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     3300000 | OU      | $52409.05     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| INFINITY BIDCO US LLC                                     | Infinity Bidco US LLC 2025 PIK Tranche 1 Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     5252100 | PA      | $5252100.00   | 0.14%             | 2026-04-30      | Floating      | 9.80%                 | No            | 3                  | On Loan: No      |
| Perma-Fix Environmental Services Inc                      | Perma-Fix Environmental Services Inc                                             | CUSIP: 714157203<br>LEI: 54930015OVD1T5P12U15 | Short            | EC               | CORP              | US        |       -3300 | NS      | $-34716.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.02% 09/28/2054 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $2416.84      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| KKR & Co Inc                                              | KKR & Co Inc                                                                     | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Short            | EC               | CORP              | US        |      -17900 | NS      | $-2381237.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Global Payments Inc                                       | Global Payments Inc                                                              | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Short            | EC               | CORP              | US        |       -6700 | NS      | $-536268.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD TRY/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-7.72        | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT SEP 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-32625.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TRIDENT ENERGY FINANCE                                    | Trident Energy Finance PLC                                                       | CUSIP: 000000000<br>LEI: 9845004ECK3FYO64I382 | Long             | DBT              | CORP              | GB        |     2520000 | PA      | $2517952.17   | 0.07%             | 2029-11-30      | Fixed         | 12.50%                | Yes           | 2                  | On Loan: No      |
| Fossil Group Inc                                          | Fossil Group Inc                                                                 | CUSIP: 34988V106<br>LEI: DDMY8YZ6L8UEMS1FDM73 | Long             | EC               | CORP              | US        |       11300 | NS      | $16724.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Boyd Gaming Corp                                          | Boyd Gaming Corp                                                                 | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Short            | EC               | CORP              | US        |       -3000 | NS      | $-234690.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| MidWestOne Financial Group Inc                            | MidWestOne Financial Group Inc                                                   | CUSIP: 598511103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $5754.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| NatWest Group PLC                                         | NatWest Group PLC                                                                | CUSIP: 639057207<br>LEI: 2138005O9XJIJN4JPN90 | Short            | EC               | CORP              | GB        |      -10200 | NS      | $-144330.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      415698 | PA      | $415697.62    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| TE Connectivity PLC                                       | TE Connectivity PLC                                                              | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Short            | EC               | CORP              | IE        |       -7177 | NS      | $-1210544.59  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Schrodinger Inc/United States                             | Schrodinger Inc/United States                                                    | CUSIP: 80810D103<br>LEI: 984500044BAE4791E559 | Long             | EC               | CORP              | US        |        8500 | NS      | $171020.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LSTAR Commercial Mortgage Trust                           | LSTAR Commercial Mortgage Trust 2017-5                                           | CUSIP: 54910TAS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1125000 | PA      | $924264.00    | 0.02%             | 2050-03-10      | Variable      | 4.82%                 | No            | 2                  | On Loan: No      |
| Unisys Corp                                               | Unisys Corp                                                                      | CUSIP: 909214306<br>LEI: 549300T21W22FIJJOW08 | Long             | EC               | CORP              | US        |        7700 | NS      | $34881.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2014-UBS4 Mortgage Trust                                                    | CUSIP: 12591QAS1<br>LEI: 5493004GWEVMOU8S3L34 | Long             | ABS-MBS          | CORP              | US        |     2108221 | PA      | $885.45       | 0.00%             | 2047-08-10      | Variable      | 0.91%                 | No            | 2                  | On Loan: No      |
| Beazer Homes USA Inc                                      | Beazer Homes USA Inc                                                             | CUSIP: 07556Q881<br>LEI: 549300DUPYT2T0F60I45 | Long             | EC               | CORP              | US        |         600 | NS      | $13422.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Brookfield Renewable Corp                                 | Brookfield Renewable Corp                                                        | CUSIP: 11285B108<br>LEI: 894500N9AWD5I1YNP231 | Short            | EC               | CORP              | CA        |      -15300 | NS      | $-501534.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) DEC 26                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -8 | NC      | $26969.60     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD IDR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-3891.47     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bank of America NA                                        | Variance Swap - SPX (20.8% - 2025-09-19)                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |        2482 | OU      | $-277022.34   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Generac Holdings Inc                                      | Generac Holdings Inc                                                             | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Short            | EC               | CORP              | US        |        -300 | NS      | $-42963.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS AUD 4.573755% 05/30/2039 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | AU        |     -500000 | OU      | $11207.26     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1233853 | PA      | $1233853.37   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     3290922 | PA      | $3290921.87   | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| I-Mab                                                     | I-Mab                                                                            | CUSIP: 44975P103<br>LEI: 549300L1A5T19703RR64 | Long             | EC               | CORP              | KY        |        6500 | NS      | $15730.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SW (FINANCE) I PLC                                        | SW Finance I PLC                                                                 | CUSIP: 000000000<br>LEI: 549300BHN1HB5BNG2R96 | Long             | DBT              | CORP              | GB        |     1990000 | PA      | $2759054.77   | 0.07%             | 2031-10-31      | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| Italian Derivatives Market                                | FTSE/MIB IDX FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | IT        |          15 | NC      | $38601.43     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  JAN26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-1659997.36  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| ERO Copper Corp                                           | ERO Copper Corp                                                                  | CUSIP: 296006109<br>LEI: 549300KL8A21SEIO8I47 | Short            | EC               | CORP              | CA        |       -3200 | NS      | $-53920.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SOLD JPY/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |           1 | NC      | $-9801.12     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| UBS Commercial Mortgage Trust                             | UBS Commercial Mortgage Trust 2018-C9                                            | CUSIP: 90291JAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      331000 | PA      | $219296.76    | 0.01%             | 2051-03-15      | Variable      | 5.11%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.5487% 04/16/2035 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $-70.72       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Natixis Commercial Mortgage Securities                    | Natixis Commercial Mortgage Securities Trust 2022-RRI                            | CUSIP: 63875JAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       98250 | PA      | $98289.99     | 0.00%             | 2035-03-15      | Floating      | 7.41%                 | No            | 2                  | On Loan: No      |
| Trinitas CLO Ltd                                          | Trinitas CLO XXX Ltd                                                             | CUSIP: 89643EAA3<br>LEI: 254900TSX6348DURD845 | Long             | ABS-CBDO         | CORP              | KY        |     1750000 | PA      | $1769208.00   | 0.05%             | 2037-10-23      | Floating      | 11.18%                | No            | 2                  | On Loan: No      |
| SentinelOne Inc                                           | SentinelOne Inc                                                                  | CUSIP: 81730H109<br>LEI: 984500DCD44DBF954221 | Short            | EC               | CORP              | US        |       -2740 | NS      | $-50087.20    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Enstar Group Ltd                                          | Enstar Group Ltd                                                                 | CUSIP: 000000000<br>LEI: 213800AMAL5QFXVUCN04 | Short            | EC               | CORP              | BM        |        -198 | NS      | $-66599.28    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Elmwood CLO 42 Ltd                                        | Elmwood CLO 42 Ltd                                                               | CUSIP: 29005EAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $2076000.00   | 0.06%             | 2038-03-31      | Floating      | 10.78%                | No            | N/A                | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     3172021 | PA      | $3172021.47   | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.5998% 09/19/2029 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -500000 | OU      | $296.66       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |      295000 | PA      | $269540.79    | 0.01%             | 2039-09-28      | Fixed         | 5.13%                 | Yes           | 2                  | On Loan: No      |
| BSPRT Issuer, Ltd.                                        | BSPRT 2022-FL9 Issuer Ltd                                                        | CUSIP: 055984AJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1277000 | PA      | $1277149.41   | 0.03%             | 2039-07-15      | Floating      | 8.23%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | SAILPOINT INC CFD                                                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -2082659 | OU      | $30128.34     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| MMTEC Inc                                                 | MMTEC Inc                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | VG        |       -1295 | NS      | $-1372.70     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                                  | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1120000 | PA      | $910179.40    | 0.02%             | 2029-06-15      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| Ikena Oncology Inc                                        | Ikena Oncology Inc                                                               | CUSIP: 45175G108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1700 | NS      | $2278.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JB Hunt Transport Services Inc                            | JB Hunt Transport Services Inc                                                   | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |        3000 | NS      | $430800.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Constant Contact Inc                                      | Constant Contact Inc Term Loan                                                   | CUSIP: 21031HAC5<br>LEI: 2549000JW50H0AI5B946 | Long             | LON              | CORP              | US        |     7797428 | PA      | $7446543.46   | 0.20%             | 2028-02-10      | Floating      | 8.52%                 | No            | 2                  | On Loan: No      |
| Sound Point CLO LTD                                       | Sound Point CLO XXIII                                                            | CUSIP: 83614CAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2400000 | PA      | $2127019.20   | 0.06%             | 2034-07-15      | Floating      | 10.99%                | No            | 2                  | On Loan: No      |
| Marriott International Inc/MD                             | Marriott International Inc/MD                                                    | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Short            | EC               | CORP              | US        |      -15200 | NS      | $-4152792.00  | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| NETSTREIT Corp                                            | NETSTREIT Corp                                                                   | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |        8500 | NS      | $143905.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS NZD 3.667% 09/18/2030 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | NZ        |   -25000000 | OU      | $63700.56     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Assertio Holdings Inc                                     | Assertio Holdings Inc                                                            | CUSIP: 04546C205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       11150 | NS      | $7149.37      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SMARTRENT INC                                             | SmartRent Inc                                                                    | CUSIP: 83193G107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -900 | NS      | $-891.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.23% 09/07/2054 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |     1100000 | OU      | $7298.86      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Seadrill Ltd                                              | Seadrill Ltd                                                                     | CUSIP: 000000000<br>LEI: 213800EQ6L456U2JCO89 | Short            | EC               | CORP              | BM        |      -21100 | NS      | $-553875.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| PepGen Inc                                                | PepGen Inc                                                                       | CUSIP: 713317105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -9700 | NS      | $-10767.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Pediatrix Medical Group Inc                               | Pediatrix Medical Group Inc                                                      | CUSIP: 58502B106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -500 | NS      | $-7175.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| United Bankshares Inc/WV                                  | United Bankshares Inc/WV                                                         | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Short            | EC               | CORP              | US        |       -3685 | NS      | $-134244.55   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.098% 12/20/2027 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -465000 | OU      | $-43.24       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| IndyMac IMSC Mortgage Loan Trust                          | IndyMac IMSC Mortgage Loan Trust 2007-HOA1                                       | CUSIP: 45670LAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      392330 | PA      | $285896.42    | 0.01%             | 2047-07-25      | Floating      | 4.79%                 | No            | 2                  | On Loan: No      |
| Cardinal Health Inc                                       | Cardinal Health Inc                                                              | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Short            | EC               | CORP              | US        |        -402 | NS      | $-67536.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT DEC26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         713 | NC      | $1956707.24   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| IDEXX Laboratories Inc                                    | IDEXX Laboratories Inc                                                           | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Short            | EC               | CORP              | US        |       -2000 | NS      | $-1072680.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Yum! Brands Inc                                           | Yum! Brands Inc                                                                  | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Short            | EC               | CORP              | US        |       -2668 | NS      | $-395344.24   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| ACI Worldwide Inc                                         | ACI Worldwide Inc                                                                | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |      170003 | NS      | $7804837.73   | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT MAY 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-16800.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy BCHINA SNRFOR USD 100 Dec 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | CN        |     4800000 | OU      | $-74586.68    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Ultragenyx Pharmaceutical Inc                             | Ultragenyx Pharmaceutical Inc                                                    | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |       13100 | NS      | $476316.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-J1                                                   | CUSIP: 12668BKA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      332691 | PA      | $202017.41    | 0.01%             | 2036-02-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| Bank of America NA                                        | NVIDIA CORP CFD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |     -821048 | OU      | $-78704.90    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                | JPMBB Commercial Mortgage Securities Trust 2016-C1                               | CUSIP: 46645LBF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      651000 | PA      | $634872.78    | 0.02%             | 2049-03-17      | Variable      | 4.85%                 | No            | 2                  | On Loan: No      |
| Vodafone Group PLC                                        | Vodafone Group PLC                                                               | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Short            | EC               | CORP              | GB        |       -5100 | NS      | $-54366.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ventyx Biosciences Inc                                    | Ventyx Biosciences Inc                                                           | CUSIP: 92332V107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        8100 | NS      | $17334.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | J.P. MORGAN US SHORT VOL SWAP INDEX (JPOSSVV1)                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Rithm Property Trust Inc                                  | Rithm Property Trust Inc                                                         | CUSIP: 38983D300<br>LEI: 5493004ID2QQWNGDYC18 | Long             | EC               |  | US        |        2400 | NS      | $6480.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rhythm Pharmaceuticals Inc                                | Rhythm Pharmaceuticals Inc                                                       | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Short            | EC               | CORP              | US        |       -5300 | NS      | $-334907.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Owens & Minor Inc                                         | Owens & Minor Inc                                                                | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |        6600 | NS      | $60060.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | BRAZILIAN REAL FUTURE (100000) AUG 25                                            | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         293 | NC      | $99913.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tredegar Corp                                             | Tredegar Corp                                                                    | CUSIP: 894650100<br>LEI: 54930003228ERHCH6K87 | Long             | EC               | CORP              | US        |        1800 | NS      | $15840.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS FEB 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |           3 | NC      | $-12928.14    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock TCP Capital Corp                                | BlackRock TCP Capital Corp                                                       | CUSIP: 09259E108<br>LEI: 549300JU1XG1HF56J989 | Long             | EC               | CORP              | US        |        7601 | NS      | $58527.70     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT AUG 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $134675.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Insmed Inc                                                | Insmed Inc                                                                       | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |        9049 | NS      | $910691.36    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Baidu Inc                                                 | Baidu Inc                                                                        | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Short            | EC               | CORP              | KY        |      -40000 | NS      | $-3430400.00  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | BOUGHT JPY/SOLD USD                                                              | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | JP        |           1 | NC      | $-1393.03     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Lehman XS Trust                                           | Lehman XS Trust 2006-17                                                          | CUSIP: 52523KAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      264251 | PA      | $249285.74    | 0.01%             | 2036-11-25      | Variable      | 6.23%                 | No            | 2                  | On Loan: No      |
| Marubeni Corp                                             | Marubeni Corp                                                                    | CUSIP: 000000000<br>LEI: 4P4N3ORD02UGQT1T1W12 | Long             | EC               | CORP              | JP        |        1400 | NS      | $28221.60     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCNB Corp                                                 | LCNB Corp                                                                        | CUSIP: 50181P100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $2906.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rexel SA                                                  | Rexel SA                                                                         | CUSIP: 000000000<br>LEI: 969500N6AVPA51648T62 | Short            | EC               | CORP              | FR        |        -343 | NS      | $-10579.06    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                                              | Broadcom Inc                                                                     | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Short            | EC               | CORP              | US        |       -1000 | NS      | $-275650.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2019-GC44 Mortgage Trust                                                    | CUSIP: 12655TAY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      160000 | PA      | $143960.32    | 0.00%             | 2057-08-15      | Variable      | 3.51%                 | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      744534 | PA      | $744533.88    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS APR 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -60 | NC      | $499710.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.30625% 03/08/2055 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $10913.42     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| WPP PLC                                                   | WPP PLC                                                                          | CUSIP: 92937A102<br>LEI: 549300LSGBXPYHXGDT93 | Short            | EC               | CORP              | JE        |       -4600 | NS      | $-161046.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Globalstar Inc                                            | Globalstar Inc                                                                   | CUSIP: 378973507<br>LEI: 549300NEX8I0MSOW0R64 | Short            | EC               | CORP              | US        |       -1447 | NS      | $-34076.85    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT THB/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | TH        |           1 | NC      | $7568.41      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Cambium Networks Corp                                     | Cambium Networks Corp                                                            | CUSIP: 000000000<br>LEI: 549300OYSIGK6OT5WL04 | Long             | EC               | CORP              | KY        |        4607 | NS      | $1865.89      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TransUnion                                                | TransUnion                                                                       | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Short            | EC               | CORP              | US        |       -4399 | NS      | $-387112.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| StepStone Group Inc                                       | StepStone Group Inc                                                              | CUSIP: 85914M107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3500 | NS      | $-194250.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Amplify Energy Corp                                       | Amplify Energy Corp                                                              | CUSIP: 03212B103<br>LEI: J0TW5YQRAZXYN7VEU787 | Short            | EC               | CORP              | US        |        -934 | NS      | $-2988.80     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WideOpenWest Inc                                          | WideOpenWest Inc                                                                 | CUSIP: 96758W101<br>LEI: 549300RM6J2BWWOFU889 | Short            | EC               | CORP              | US        |        -700 | NS      | $-2842.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ATS Corp                                                  | ATS Corp                                                                         | CUSIP: 00217Y104<br>LEI: 5493005KP4RP3IU7HQ41 | Short            | EC               | CORP              | CA        |       -2800 | NS      | $-89264.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Arcus Biosciences Inc                                     | Arcus Biosciences Inc                                                            | CUSIP: 03969F109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2600 | NS      | $21164.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Carriage Services Inc                                     | Carriage Services Inc                                                            | CUSIP: 143905107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         900 | NS      | $41166.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Mexico Government International Bonds                     | Mexico Government International Bonds                                            | CUSIP: 91087BBD1<br>LEI: 254900EGTWEU67VP6075 | Short            | DBT              | NUSS              | MX        |    -4865000 | PA      | $-5014550.10  | -0.13%            | 2055-05-13      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| RIVIAN HLD/AUTO LLC                                       | Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC                             | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      716000 | PA      | $703485.92    | 0.02%             | 2031-01-15      | Fixed         | 10.00%                | No            | N/A                | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS              | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2006-5 Trust   | CUSIP: 93934NAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      327233 | PA      | $256715.92    | 0.01%             | 2036-07-25      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Eurex Deutschland                                         | VSTOXX FUT 07/01/25 35C                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |       -3891 | NC      | $282537.20    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Corvus Pharmaceuticals Inc                                | Corvus Pharmaceuticals Inc                                                       | CUSIP: 221015100<br>LEI: 549300I3AVJ8F75NCX65 | Long             | EC               | CORP              | US        |        5500 | NS      | $22000.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Expensify Inc                                             | Expensify Inc                                                                    | CUSIP: 30219Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7800 | NS      | $20202.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1059138 | PA      | $1059137.58   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     5500000 | OU      | $135008.19    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CalCon Mutual Mortgage                                    | Calcon Mutual Mortgage 2023-1                                                    | CUSIP: 12870EAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3006000 | PA      | $3012778.53   | 0.08%             | 2054-06-25      | Variable      | 4.97%                 | No            | 2                  | On Loan: No      |
| Palmer Square Capital BDC Inc                             | Palmer Square Capital BDC Inc                                                    | CUSIP: 69702V107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         800 | NS      | $11168.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Stonegate Pub Co. Financing 2019 PLC                      | STONEGATE PUB FIN 10.75 07/31/29                                                 | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |     8565000 | PA      | $12188172.84  | 0.32%             | 2029-07-31      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Live Nation Entertainment Inc                             | Live Nation Entertainment Inc                                                    | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |       19952 | NS      | $3018338.56   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | HACKSAW AB CFD                                                                   | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | SE        |    76336125 | OU      | $-353725.41   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Renasant Corp                                             | Renasant Corp                                                                    | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Short            | EC               | CORP              | US        |        -300 | NS      | $-10779.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Guitar Center Holdings, Inc.                              | Guitar Center Holdings, Inc.                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     5755948 | PA      | $1539716.01   | 0.04%             | N/A             | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| Wolfspeed Inc                                             | Wolfspeed Inc                                                                    | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |       37300 | NS      | $14875.23     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COLT Funding LLC                                          | COLT 2024-3 Mortgage Loan Trust                                                  | CUSIP: 19688VAE0<br>LEI: 213800YFAHWZN77V6P52 | Long             | ABS-MBS          | CORP              | US        |     3201000 | PA      | $3205619.04   | 0.09%             | 2069-06-25      | Variable      | 7.85%                 | No            | 2                  | On Loan: No      |
| NIO Inc                                                   | NIO Inc                                                                          | CUSIP: 62914V106<br>LEI: 549300JBU4TV5OCKJV96 | Short            | EC               | CORP              | KY        |     -221100 | NS      | $-758373.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Global Markets Ltd.                             | Buy MEXICO SNRFOR USD 100 Jun 2030 CITI_ISDA 1%                                  | CUSIP: 000000000<br>LEI: XKZZ2JZF41MRHTR1V493 | N/A              | DCR              |  | MX        |     2800000 | OU      | $8538.68      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Zimmer Biomet Holdings Inc                                | Zimmer Biomet Holdings Inc                                                       | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Short            | EC               | CORP              | US        |       -3200 | NS      | $-291872.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Janux Therapeutics Inc                                    | Janux Therapeutics Inc                                                           | CUSIP: 47103J105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-6930.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| KREF HOLDINGS X LLC                                       | KREF Holdings X LLC 2025 Term Loan B                                             | CUSIP: 48266YAE3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      245000 | PA      | $246225.00    | 0.01%             | 2032-03-05      | Floating      | 7.56%                 | No            | 3                  | On Loan: No      |
| Service Properties Trust                                  | Service Properties Trust                                                         | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Long             | EC               |  | US        |        1000 | NS      | $2390.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| American Tower Corp                                       | American Tower Corp                                                              | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Short            | EC               |  | US        |        -414 | NS      | $-91502.28    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AvePoint Inc                                              | AvePoint Inc                                                                     | CUSIP: 053604104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3900 | NS      | $75309.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Centex Home Equity                                        | Centex Home Equity Loan Trust 2004-D                                             | CUSIP: 152314LW8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      343182 | PA      | $304571.39    | 0.01%             | 2034-09-25      | Variable      | 6.40%                 | No            | 2                  | On Loan: No      |
| NNN REIT Inc                                              | NNN REIT Inc                                                                     | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Short            | EC               |  | US        |       -6260 | NS      | $-270306.80   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Trinitas CLO Ltd                                          | Trinitas CLO XXVIII LTD                                                          | CUSIP: 89640FAN5<br>LEI: 254900DPIAGU6GHOTB83 | Long             | ABS-CBDO         | CORP              | KY        |     4750000 | PA      | $4779222.00   | 0.13%             | 2037-04-25      | Floating      | 8.28%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.NA.HY.44 USD 500 Jun 2030 Morgan 5%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     5900000 | OU      | $-451236.59   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Foghorn Therapeutics Inc                                  | Foghorn Therapeutics Inc                                                         | CUSIP: 344174107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -900 | NS      | $-4230.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT INR/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | IN        |           1 | NC      | $609.03       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-28CB                                                 | CUSIP: 02147TAU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      709661 | PA      | $239970.40    | 0.01%             | 2036-10-25      | Floating      | 4.83%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEANS 5000 NOV 25                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        1236 | NC      | $-775116.16   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | US        |           1 | NC      | $-208695.74   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Franco-Nevada Corp                                        | Franco-Nevada Corp                                                               | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |       10200 | NS      | $1671984.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| IIP OPERATING PARTNER                                     | IIP Operating Partnership LP                                                     | CUSIP: 44988FAD2<br>LEI: N/A                  | Long             | DBT              |  | US        |     1779000 | PA      | $1730400.12   | 0.05%             | 2026-05-25      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD TRY/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-0.05        | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | BOUGHT EUR/SOLD USD                                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | XX        |           1 | NC      | $119.75       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| TOTAL PLAY TELECOM                                        | Total Play Telecomunicaciones SA de CV                                           | CUSIP: 89157PAD0<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |     1290500 | PA      | $1221329.20   | 0.03%             | 2032-12-31      | Fixed         | 11.13%                | No            | 2                  | On Loan: No      |
| Cardlytics Inc                                            | Cardlytics Inc                                                                   | CUSIP: 14161W105<br>LEI: 549300JETJBH94EIPC66 | Long             | EC               | CORP              | US        |         200 | NS      | $329.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Enliven Therapeutics Inc                                  | Enliven Therapeutics Inc                                                         | CUSIP: 29337E102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -700 | NS      | $-14042.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Argo Blockchain PLC                                       | Argo Blockchain PLC                                                              | CUSIP: 040126104<br>LEI: 213800WPCCYSDYY26J54 | Short            | EC               | CORP              | GB        |       -6700 | NS      | $-1252.94     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS NOV 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -23 | NC      | $6209.29      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Aeroports de Paris SA                                     | Aeroports de Paris SA                                                            | CUSIP: 000000000<br>LEI: 969500PJMBSFHYC37989 | Short            | EC               | CORP              | FR        |         -81 | NS      | $-10155.24    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Link Motion Inc                                           | Link Motion Inc                                                                  | CUSIP: 53577L105<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |      -11000 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Newmont Corp                                              | Newmont Corp                                                                     | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Short            | EC               | CORP              | US        |       -9800 | NS      | $-570948.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | BOUGHT CNH/SOLD USD                                                              | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | CN        |           1 | NC      | $32890.55     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Atara Biotherapeutics Inc                                 | Atara Biotherapeutics Inc                                                        | CUSIP: 046513206<br>LEI: 549300WBXUXZRE03MS38 | Short            | EC               | CORP              | US        |       -1964 | NS      | $-15162.08    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SkyWest Inc                                               | SkyWest Inc                                                                      | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Short            | EC               | CORP              | US        |        -600 | NS      | $-61782.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AMERICA MOVIL SAB DE CV                                   | America Movil SAB de CV                                                          | CUSIP: 02364WBM6<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |     4006000 | PA      | $4012169.24   | 0.11%             | 2033-01-20      | Fixed         | 5.00%                 | No            | N/A                | On Loan: No      |
| Sabre Corp                                                | Sabre Corp                                                                       | CUSIP: 78573M104<br>LEI: 529900VKCYZW8GZ4WW58 | Long             | EC               | CORP              | US        |       69300 | NS      | $218988.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Adverum Biotechnologies Inc                               | Adverum Biotechnologies Inc                                                      | CUSIP: 00773U207<br>LEI: 529900ZEDOOZL1EWHJ89 | Long             | EC               | CORP              | US        |         170 | NS      | $365.50       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Texas Pacific Land Corp                                   | Texas Pacific Land Corp                                                          | CUSIP: 88262P102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -800 | NS      | $-845112.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Navigator Holdings Ltd                                    | Navigator Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 213800H7RVOFYARK2W19 | Long             | EC               | CORP              | MH        |        3000 | NS      | $42450.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vir Biotechnology Inc                                     | Vir Biotechnology Inc                                                            | CUSIP: 92764N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2400 | NS      | $12096.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-13436.93    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| System1 Inc                                               | System1 Inc                                                                      | CUSIP: 87200P109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -315 | NS      | $-1741.95     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Celcuity Inc                                              | Celcuity Inc                                                                     | CUSIP: 15102K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $2670.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Greensky Home Improvement Issuer Trust                    | GreenSky Home Improvement Trust 2024-1                                           | CUSIP: 39571MAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      829000 | PA      | $855571.94    | 0.02%             | 2059-06-25      | Fixed         | 9.00%                 | No            | 2                  | On Loan: No      |
| Energizer Holdings Inc                                    | Energizer Holdings Inc                                                           | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Short            | EC               | CORP              | US        |        -600 | NS      | $-12096.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NCR Voyix Corp                                            | NCR Voyix Corp                                                                   | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |       60516 | NS      | $709852.68    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Comstock Inc                                              | Comstock Inc                                                                     | CUSIP: 205750409<br>LEI: 549300PX1C7TOIY9SK20 | Short            | EC               | CORP              | US        |       -3780 | NS      | $-14326.20    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MidWestOne Financial Group Inc                            | MidWestOne Financial Group Inc                                                   | CUSIP: 598511103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -7129 | NS      | $-205101.33   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Zymeworks Inc                                             | Zymeworks Inc                                                                    | CUSIP: 98985Y108<br>LEI: 894500AHOYAGYLYZJL67 | Short            | EC               | CORP              | US        |       -2400 | NS      | $-30120.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | ELBIT SYSTEMS LTD CFD                                                            | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | IL        |    -1944432 | OU      | $-74272.02    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LD CELULOSE INTERNATIONA                                  | LD Celulose International GmbH                                                   | CUSIP: 000000000<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |     4422000 | PA      | $4654155.00   | 0.12%             | 2032-01-26      | Fixed         | 7.95%                 | Yes           | 2                  | On Loan: No      |
| SPRINGS WINDOWS FASHIONS LLC                              | Springs Windows Fashions LLC 2024 First Lien Second Out TL A2                    | CUSIP: 000000000<br>LEI: 549300VWKC5NLVJ7YX57 | Long             | LON              | CORP              | US        |     8742239 | PA      | $6662285.66   | 0.18%             | 2028-10-06      | Floating      | 8.44%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 2.4585% 04/25/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     5000000 | OU      | $-2583.47     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.75975% 04/18/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $528.32       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.15225% 02/27/2040 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      200000 | OU      | $3375.66      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Quanta Services Inc                                       | Quanta Services Inc                                                              | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Short            | EC               | CORP              | US        |       -4600 | NS      | $-1739168.00  | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| New Gold Inc                                              | New Gold Inc                                                                     | CUSIP: 644535106<br>LEI: 5493005G0GNCHP0H6L96 | Long             | EC               | CORP              | CA        |       57800 | NS      | $286110.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Clearwater Analytics Holdings Inc                         | Clearwater Analytics Holdings Inc                                                | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      177222 | NS      | $3886478.46   | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | CSAIL 2015-C4 Commercial Mortgage Trust                                          | CUSIP: 12635RBF4<br>LEI: 54930025J96YEH8FQE77 | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $96201.30     | 0.00%             | 2048-11-15      | Variable      | 3.89%                 | No            | 2                  | On Loan: No      |
| Design Therapeutics Inc                                   | Design Therapeutics Inc                                                          | CUSIP: 25056L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3700 | NS      | $12469.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PRIMA Capital LTD                                         | Prima Capital CRE Securitization 2019-RK1 Ltd                                    | CUSIP: 74166HAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |      121000 | PA      | $105461.42    | 0.00%             | 2038-04-15      | Fixed         | 4.45%                 | No            | 2                  | On Loan: No      |
| Gentherm Inc                                              | Gentherm Inc                                                                     | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-31119.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BioCardia Inc                                             | BioCardia Inc                                                                    | CUSIP: 09060U606<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          47 | NS      | $91.65        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Preferred Bank/Los Angeles CA                             | Preferred Bank/Los Angeles CA                                                    | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Short            | EC               | CORP              | US        |      -56481 | NS      | $-4888148.35  | -0.13%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.4744% 10/13/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      100000 | OU      | $8387.22      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Vibrant CLO Ltd                                           | Vibrant CLO XVI Ltd                                                              | CUSIP: 92558PAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $999417.00    | 0.03%             | 2036-07-15      | Floating      | 11.39%                | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | TTF NATURAL GAS BASE LOAD (FSM) 672 FEB 26 50C                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          60 | NC      | $105011.32    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Core Scientific Inc                                       | Core Scientific Inc                                                              | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |       12800 | NS      | $218496.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | DUBAI RESIDENTIAL REIT CFD                                                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | AE        |       93715 | OU      | $3.53         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BX Trust                                                  | BX Trust 2022-FOX2                                                               | CUSIP: 05610AAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      700000 | PA      | $698566.40    | 0.02%             | 2039-04-15      | Floating      | 7.27%                 | No            | 2                  | On Loan: No      |
| FS Bancorp Inc                                            | FS Bancorp Inc                                                                   | CUSIP: 30263Y104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $3938.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Global Markets Ltd.                             | Buy CHINA SNRFOR USD 100 Dec 2027 CITI_ISDA 1%                                   | CUSIP: 000000000<br>LEI: XKZZ2JZF41MRHTR1V493 | N/A              | DCR              |  | CN        |    13800000 | OU      | $-218331.24   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Harmony Biosciences Holdings Inc                          | Harmony Biosciences Holdings Inc                                                 | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1200 | NS      | $37920.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD PHP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-1580.93     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | MARTIN MIDSTREAM PARTNERS LP CFD                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |      382367 | OU      | $-21989.16    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Figs Inc                                                  | Figs Inc                                                                         | CUSIP: 30260D103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3800 | NS      | $21432.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Texas Capital Bancshares Inc                              | Texas Capital Bancshares Inc                                                     | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      136421 | NS      | $10831827.40  | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-4051.88     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Stagwell Inc                                              | Stagwell Inc                                                                     | CUSIP: 85256A109<br>LEI: 549300KIYTU6J3NYJ009 | Short            | EC               | CORP              | US        |        -800 | NS      | $-3600.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WR GRACE HOLDING LLC                                      | WR Grace Holdings LLC                                                            | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     3578000 | PA      | $3238755.90   | 0.09%             | 2029-08-15      | Fixed         | 5.63%                 | No            | 2                  | On Loan: No      |
| Vaxcyte Inc                                               | Vaxcyte Inc                                                                      | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Short            | EC               | CORP              | US        |      -14100 | NS      | $-458391.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| UMBS, TBA                                                 | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F050676<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -102000000 | PA      | $-99987846.00 | -2.66%            | 2054-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CareCloud Inc                                             | CareCloud Inc                                                                    | CUSIP: 14167R100<br>LEI: 549300GEO5Y45G5I3070 | Long             | EC               | CORP              | US        |        1700 | NS      | $4012.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.862005% 04/08/2030 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -500000 | OU      | $5295.30      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Castle Hill INGOTS Ltd                                    | CSTL Commercial Mortgage Trust 2024-GATE                                         | CUSIP: 22945JAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $1019897.00   | 0.03%             | 2041-11-10      | Variable      | 7.19%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | SHANDONG BOAN BIOTECH-H CFD                                                      | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | CN        |         162 | OU      | $-1.64        | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| SurgePays Inc                                             | SurgePays Inc                                                                    | CUSIP: 86882L204<br>LEI: 549300107QZQ6Y0W4S20 | Short            | EC               | CORP              | US        |        -200 | NS      | $-624.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Carlyle Global Market Strategies                          | Carlyle US CLO 2024-8 Ltd                                                        | CUSIP: 142916AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1350000 | PA      | $1352971.35   | 0.04%             | 2037-01-25      | Floating      | 9.82%                 | No            | 2                  | On Loan: No      |
| Borr Drilling Ltd                                         | Borr Drilling Ltd                                                                | CUSIP: 000000000<br>LEI: 213800J2JPCTXLHQ5R78 | Short            | EC               | CORP              | BM        |      -15600 | NS      | $-28548.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| RH                                                        | RH                                                                               | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |         400 | NS      | $75604.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nice Ltd                                                  | Nice Ltd                                                                         | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Short            | EC               | CORP              | IL        |       -1300 | NS      | $-219583.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME ALUMINIUM 3MO 09/04/25                                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         -36 | NC      | $-133857.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| EHang Holdings Ltd                                        | EHang Holdings Ltd                                                               | CUSIP: 26853E102<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -3100 | NS      | $-53816.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | MEXICAN PESO FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         -38 | NC      | $-10850.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cooper-Standard Holdings Inc                              | Cooper-Standard Holdings Inc                                                     | CUSIP: 21676P103<br>LEI: 549300VVOH2RQP5YMB08 | Short            | EC               | CORP              | US        |        -500 | NS      | $-10750.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bath & Body Works Inc                                     | Bath & Body Works Inc                                                            | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Short            | EC               | CORP              | US        |       -5400 | NS      | $-161784.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Safety Shot Inc                                           | Safety Shot Inc                                                                  | CUSIP: 48208F105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3300 | NS      | $-1088.67     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.5449% 04/08/2055 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $5060.41      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Roivant Sciences Ltd                                      | Roivant Sciences Ltd                                                             | CUSIP: 000000000<br>LEI: 549300DL466NY5J6U724 | Short            | EC               | CORP              | BM        |     -118500 | NS      | $-1335495.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| SOTHEBY'S/BIDFAIR HLD                                     | Sotheby's/Bidfair Holdings Inc                                                   | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1505000 | PA      | $1355285.29   | 0.04%             | 2029-06-01      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| MH Sub I LLC                                              | MH Sub I LLC 2021 2nd Lien Term Loan                                             | CUSIP: 55303BAD5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |      492215 | PA      | $430073.17    | 0.01%             | 2029-02-23      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Tricolor Auto Securitization Trust                        | Tricolor Auto Securitization Trust 2025-1                                        | CUSIP: 89617CAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      498000 | PA      | $510071.02    | 0.01%             | 2031-04-15      | Fixed         | 6.84%                 | No            | 2                  | On Loan: No      |
| Credit Acceptance Corp                                    | Credit Acceptance Corp                                                           | CUSIP: 225310101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $101886.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TELECOM ARGENTINA SA                                      | Telecom Argentina SA                                                             | CUSIP: 000000000<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |     3006000 | PA      | $3133755.00   | 0.08%             | 2031-07-18      | Fixed         | 9.50%                 | Yes           | 2                  | On Loan: No      |
| Airbnb Inc                                                | Airbnb Inc                                                                       | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Short            | EC               | CORP              | US        |       -1853 | NS      | $-245226.02   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Enphase Energy Inc                                        | Enphase Energy Inc                                                               | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Short            | EC               | CORP              | US        |       -6872 | NS      | $-272474.80   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | STOXX 600 AUTO    Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |          -3 | NC      | $-1342.86     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hyperfine Inc                                             | Hyperfine Inc                                                                    | CUSIP: 44916K106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -15600 | NS      | $-11225.76    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LSTAR Commercial Mortgage Trust                           | LSTAR Commercial Mortgage Trust 2017-5                                           | CUSIP: 54910TAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      967000 | PA      | $882913.55    | 0.02%             | 2050-03-10      | Variable      | 4.82%                 | No            | 2                  | On Loan: No      |
| BX Trust                                                  | BX Trust 2021-ARIA                                                               | CUSIP: 05608RAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $994519.00    | 0.03%             | 2036-10-15      | Floating      | 7.57%                 | No            | 2                  | On Loan: No      |
| Limoneira Co                                              | Limoneira Co                                                                     | CUSIP: 532746104<br>LEI: 549300UCPZVJGYHI7550 | Long             | EC               | CORP              | US        |         400 | NS      | $6260.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tenet Healthcare Corp                                     | Tenet Healthcare Corp                                                            | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |        2664 | NS      | $468864.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Sanara Medtech Inc                                        | Sanara Medtech Inc                                                               | CUSIP: 79957L100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-2839.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT BRL/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | BR        |           1 | NC      | $211089.51    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen                        | CUSIP: 000000000<br>LEI: 529900MUF4C20K50JS49 | Short            | EC               | CORP              | DE        |         -26 | NS      | $-16882.69    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Coastal Financial Corp/WA                                 | Coastal Financial Corp/WA                                                        | CUSIP: 19046P209<br>LEI: 549300XG5L36T6IU0B47 | Long             | EC               | CORP              | US        |         400 | NS      | $38748.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| mF International Ltd                                      | mF International Ltd                                                             | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | VG        |       -2200 | NS      | $-13332.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.22% 12/29/2054 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      100000 | OU      | $5583.17      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CF Industries Holdings Inc                                | CF Industries Holdings Inc                                                       | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |         400 | NS      | $36800.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  726                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-709177.36   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Altimmune Inc                                             | Altimmune Inc                                                                    | CUSIP: 02155H200<br>LEI: 549300EOYCQ8SW3NVE64 | Long             | EC               | CORP              | US        |        3400 | NS      | $13158.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SCYNEXIS Inc                                              | SCYNEXIS Inc                                                                     | CUSIP: 811292200<br>LEI: 529900XBHFGMNTU70154 | Short            | EC               | CORP              | US        |       -3600 | NS      | $-2429.28     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| IDACORP Inc                                               | IDACORP Inc                                                                      | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |       13868 | NS      | $1601060.60   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Lear Corp                                                 | Lear Corp                                                                        | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Short            | EC               | CORP              | US        |       -7100 | NS      | $-674358.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Bayerische Motoren Werke AG                               | BAYERISCHE MOTOREN WERKE AG                                                      | CUSIP: 000000000<br>LEI: YEH5ZCD6E441RHVHD759 | Short            | EC               | CORP              | DE        |         -64 | NS      | $-5699.79     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Thumzup Media Corp                                        | Thumzup Media Corp                                                               | CUSIP: 88604J103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-1402.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| United Parks & Resorts Inc                                | United Parks & Resorts Inc                                                       | CUSIP: 81282V100<br>LEI: 529900G0H4NV3IIK3269 | Short            | EC               | CORP              | US        |       -2585 | NS      | $-121882.75   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| REPUBLIC OF TURKIYE                                       | Turkiye Government International Bond                                            | CUSIP: 900123DQ0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     4006000 | PA      | $4020816.99   | 0.11%             | 2032-05-29      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 JUL 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $-7880.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cineverse Corp                                            | Cineverse Corp                                                                   | CUSIP: 172406308<br>LEI: 549300QPGXUR8OY7KD24 | Short            | EC               | CORP              | US        |       -1881 | NS      | $-8991.18     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| HealthStream Inc                                          | HealthStream Inc                                                                 | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |         600 | NS      | $16602.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GigaCloud Technology Inc                                  | GigaCloud Technology Inc                                                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -9700 | NS      | $-191866.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| QUALCOMM Inc                                              | QUALCOMM Inc                                                                     | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |       22000 | NS      | $3503720.00   | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Village Farms International Inc                           | Village Farms International Inc                                                  | CUSIP: 92707Y108<br>LEI: 529900TR69X5FFZ6K955 | Long             | EC               | CORP              | CA        |        4000 | NS      | $4400.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ALX Oncology Holdings Inc                                 | ALX Oncology Holdings Inc                                                        | CUSIP: 00166B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       12300 | NS      | $5105.78      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| John B Sanfilippo & Son Inc                               | John B Sanfilippo & Son Inc                                                      | CUSIP: 800422107<br>LEI: 5299007IBEYVXKYDUX28 | Long             | EC               | CORP              | US        |         500 | NS      | $31620.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| scPharmaceuticals Inc                                     | scPharmaceuticals Inc                                                            | CUSIP: 810648105<br>LEI: 549300F55SN4ZR2OA180 | Short            | EC               | CORP              | US        |       -5000 | NS      | $-19050.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Emergent BioSolutions Inc                                 | Emergent BioSolutions Inc                                                        | CUSIP: 29089Q105<br>LEI: 549300YW6TUOX8BE5103 | Long             | EC               | CORP              | US        |        9000 | NS      | $57420.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ooma Inc                                                  | Ooma Inc                                                                         | CUSIP: 683416101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1000 | NS      | $12900.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CALUMET SPECIALTY PROD                                    | Calumet Specialty Products Partners LP / Calumet Finance Corp                    | CUSIP: 131477AW1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4448000 | PA      | $4434704.04   | 0.12%             | 2028-07-15      | Fixed         | 9.75%                 | No            | 2                  | On Loan: No      |
| NYSE Euronext Liffe                                       | LONG GILT FUTURE  Sep25                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         -38 | NC      | $-106970.63   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Natera Inc                                                | Natera Inc                                                                       | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1800 | NS      | $304092.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| ROMANIA                                                   | ROMANI 5.375 03/22/31 REGS                                                       | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     2686000 | PA      | $3172320.08   | 0.08%             | 2031-03-22      | Fixed         | 5.38%                 | Yes           | 2                  | On Loan: No      |
| Lufax Holding Ltd                                         | Lufax Holding Ltd                                                                | CUSIP: 54975P201<br>LEI: 254900TYH7RTK8E9NH16 | Long             | EC               | CORP              | KY        |        9900 | NS      | $27621.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.351425% 01/18/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      100000 | OU      | $2487.27      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Ivanhoe Electric Inc / US                                 | Ivanhoe Electric Inc / US                                                        | CUSIP: 46578C108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -7000 | NS      | $-63490.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Beyond Inc                                                | Beyond Inc                                                                       | CUSIP: 690370101<br>LEI: 549300ACR0DL9U7EI710 | Long             | EC               | CORP              | US        |        4000 | NS      | $27520.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Microvast Holdings Inc                                    | Microvast Holdings Inc                                                           | CUSIP: 59516C106<br>LEI: 549300J4UX9OMHSTKS35 | Long             | EC               | CORP              | US        |         900 | NS      | $3267.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GSAA Home Equity Trust                                    | GSAA Trust                                                                       | CUSIP: 362341AS8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      323685 | PA      | $253988.66    | 0.01%             | 2035-05-25      | Variable      | 5.36%                 | No            | 2                  | On Loan: No      |
| MTU Aero Engines AG                                       | MTU Aero Engines AG                                                              | CUSIP: 000000000<br>LEI: 529900807L67JY81RD65 | Short            | EC               | CORP              | DE        |         -87 | NS      | $-38649.93    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association                  | Government National Mortgage Association                                         | CUSIP: 38383TWL3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    23562439 | PA      | $4696135.52   | 0.13%             | 2052-06-20      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy Traxx Europe Xover Series 43 EUR 500 Jun 2030                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    10900000 | OU      | $-1215147.61  | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 NOV25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        -150 | NC      | $178698.75    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT NOV 25 2.9P                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         200 | NC      | $192000.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Mettler-Toledo International Inc                          | Mettler-Toledo International Inc                                                 | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Short            | EC               | CORP              | US        |       -1100 | NS      | $-1292192.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| OmniAb Inc                                                | OmniAb Inc                                                                       | CUSIP: 68218J103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         600 | NS      | $1044.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Shengfeng Development Ltd                                 | Shengfeng Development Ltd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -400 | NS      | $-400.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chegg Inc                                                 | Chegg Inc                                                                        | CUSIP: 163092109<br>LEI: 549300AKX7O8JG0O3G77 | Long             | EC               | CORP              | US        |       24500 | NS      | $29645.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PULSE BIOSCIENCES INC                                     | PULSE BIOSCIENCES INC                                                            | CUSIP: 74587B143<br>LEI: 529900NJUBI06118FM73 | Short            | EC               | CORP              | US        |         -68 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| ORLEN SA                                                  | ORLEN SA 3.625 07/02/32 EMTN                                                     | CUSIP: 000000000<br>LEI: 259400VVMM70CQREJT74 | Long             | DBT              | CORP              | PL        |     3763000 | PA      | $4392998.17   | 0.12%             | 2032-07-02      | Fixed         | 3.63%                 | Yes           | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 NOV 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $7040.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bain Capital Credit CLO, Limited                          | Bain Capital Credit CLO 2024-2 Ltd                                               | CUSIP: 056921AJ8<br>LEI: 254900KJZFJF5PZOFD13 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1004061.00   | 0.03%             | 2037-07-15      | Floating      | 7.96%                 | No            | 2                  | On Loan: No      |
| Delcath Systems Inc                                       | Delcath Systems Inc                                                              | CUSIP: 24661P807<br>LEI: 549300NVPLITUM6URT02 | Short            | EC               | CORP              | US        |       -1200 | NS      | $-16320.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| US RENAL CARE INC                                         | US Renal Care Inc                                                                | CUSIP: 90355YAA5<br>LEI: 54930058SS5MF69JGN89 | Long             | DBT              | CORP              | US        |     1563050 | PA      | $1330546.31   | 0.04%             | 2028-06-28      | Fixed         | 10.63%                | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | Buy MEXICO SNRFOR USD 100 Jun 2030 JPMB_ISDA 1%                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | MX        |     4000000 | OU      | $12198.12     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Vishay Precision Group Inc                                | Vishay Precision Group Inc                                                       | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $14050.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ventas Inc                                                | Ventas Inc                                                                       | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Short            | EC               |  | US        |         -38 | NS      | $-2399.70     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| 1st Source Corp                                           | 1st Source Corp                                                                  | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $18621.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ally Financial Inc                                        | Ally Financial Inc                                                               | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |         200 | NS      | $7790.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Deutsche Bank AG                                          | SOUSD_SOFR_R_3.745_20540301_20340301_LCH                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              |  | US        |     4000000 | NC      | $308394.46    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/25 60P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         105 | NC      | $-68250.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.3895% 11/16/2028 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     4000000 | OU      | $175298.07    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Hercules Capital Inc                                      | Hercules Capital Inc                                                             | CUSIP: 427096508<br>LEI: 549300UJ5OC256GR2B73 | Long             | EC               | CORP              | US        |       14300 | NS      | $261404.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Americold Realty Trust Inc                                | Americold Realty Trust Inc                                                       | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Short            | EC               |  | US        |      -32800 | NS      | $-545464.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT  DEC25                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -58 | NC      | $-77500.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ARES CLO Ltd                                              | Ares LIV CLO Ltd                                                                 | CUSIP: 04017XAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      250000 | PA      | $249062.50    | 0.01%             | 2032-10-15      | Floating      | 11.86%                | No            | 2                  | On Loan: No      |
| Kalaris Therapeutics Inc                                  | Kalaris Therapeutics Inc                                                         | CUSIP: 482929106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         265 | NS      | $707.55       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UBS Commercial Mortgage Trust                             | UBS Commercial Mortgage Trust                                                    | CUSIP: 90278MAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      103000 | PA      | $70366.41     | 0.00%             | 2052-10-15      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT OCT 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-43300.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Exelixis Inc                                              | Exelixis Inc                                                                     | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |        4700 | NS      | $207152.59    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Office Properties Income Trust                            | Office Properties Income Trust                                                   | CUSIP: 67623C109<br>LEI: N/A                  | Long             | EC               |  | US        |       17000 | NS      | $4199.02      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bluemountain CLO Ltd                                      | BlueMountain CLO XXVIII Ltd                                                      | CUSIP: 09630TAA3<br>LEI: 5493001GLQHON6UV2U40 | Long             | ABS-CBDO         | CORP              | KY        |      250000 | PA      | $249043.00    | 0.01%             | 2034-04-15      | Floating      | 10.92%                | No            | 2                  | On Loan: No      |
| Lucky Strike Entertainment Corp                           | Lucky Strike Entertainment Corp                                                  | CUSIP: 10258P102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-1826.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Dine Brands Global Inc                                    | Dine Brands Global Inc                                                           | CUSIP: 254423106<br>LEI: 529900HKM8OWSHLKJY75 | Long             | EC               | CORP              | US        |        3700 | NS      | $90021.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 12/01/26 80C                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         294 | NC      | $92400.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.874% 09/29/2027 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    -2000000 | OU      | $20571.48     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.60575% 04/04/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-3811.68     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FXQS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1525000 | PA      | $179484.88    | 0.00%             | 2048-09-25      | Variable      | 2.82%                 | No            | 2                  | On Loan: No      |
| Frontdoor Inc                                             | Frontdoor Inc                                                                    | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Short            | EC               | CORP              | US        |       -2300 | NS      | $-135562.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TOTAL PLAY TELECOM                                        | Total Play Telecomunicaciones SA de CV                                           | CUSIP: 000000000<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |      498000 | PA      | $472143.59    | 0.01%             | 2028-12-31      | Fixed         | 10.50%                | Yes           | 2                  | On Loan: No      |
| Adaptimmune Therapeutics Plc                              | Adaptimmune Therapeutics Plc                                                     | CUSIP: 00653A107<br>LEI: 549300UUNWK8TRT5EW12 | Long             | EC               | CORP              | GB        |        3021 | NS      | $724.13       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CP Atlas Buyer Inc                                        | CP Atlas Buyer Inc 2021 Term Loan B                                              | CUSIP: 12658HAG7<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |     1393788 | PA      | $1387403.95   | 0.04%             | 2027-11-23      | Floating      | 8.18%                 | No            | 2                  | On Loan: No      |
| OneMedNet Corp                                            | OneMedNet Corp                                                                   | CUSIP: 68270C103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -4213 | NS      | $-2401.82     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                        | Morgan Stanley Mortgage Loan Trust 2006-17XS                                     | CUSIP: 61751DAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      829212 | PA      | $213401.87    | 0.01%             | 2046-10-25      | Variable      | 6.15%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.421468% 03/05/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      300000 | OU      | $16989.71     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Upland Software Inc                                       | Upland Software Inc                                                              | CUSIP: 91544A109<br>LEI: 549300NS277POYJ63W89 | Long             | EC               | CORP              | US        |        5400 | NS      | $10530.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fifth Third Bancorp                                       | Fifth Third Bancorp                                                              | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Short            | EC               | CORP              | US        |     -369571 | NS      | $-15200455.23 | -0.40%            |  |  |  | No            | 1                  | On Loan: No      |
| CVRx Inc                                                  | CVRx Inc                                                                         | CUSIP: 126638105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         700 | NS      | $4116.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Analog Devices Inc                                        | Analog Devices Inc                                                               | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Short            | EC               | CORP              | US        |       -2800 | NS      | $-666456.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| CYNGN Inc                                                 | CYNGN Inc                                                                        | CUSIP: 23257B305<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -500 | NS      | $-7200.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Prelude Therapeutics Inc                                  | Prelude Therapeutics Inc                                                         | CUSIP: 74065P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5700 | NS      | $4613.59      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| QCR Holdings Inc                                          | QCR Holdings Inc                                                                 | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               | CORP              | US        |         200 | NS      | $13580.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER JUL 25 11000C                                                         | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          20 | NC      | $6500.00      | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| ON Semiconductor Corp                                     | ON Semiconductor Corp                                                            | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |       12845 | NS      | $673206.45    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Alibaba Group Holding Ltd                                 | Alibaba Group Holding Ltd                                                        | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Short            | EC               | CORP              | KY        |       -1033 | NS      | $-117152.53   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.103% 07/14/2028 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -545000 | OU      | $-592.23      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Comcast Corp                                              | Comcast Corp                                                                     | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Short            | EC               | CORP              | US        |      -19861 | NS      | $-708839.09   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Grupo Financiero Galicia SA                               | Grupo Financiero Galicia SA                                                      | CUSIP: 399909100<br>LEI: 5299008H3AXIXV5G3C23 | Long             | EC               | CORP              | AR        |       35915 | NS      | $1809756.85   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| CIFC Funding Ltd                                          | CIFC Funding 2021-II                                                             | CUSIP: 12565TAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $996187.00    | 0.03%             | 2034-04-15      | Floating      | 10.72%                | No            | 2                  | On Loan: No      |
| Kodiak Gas Services Inc                                   | Kodiak Gas Services Inc                                                          | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       54432 | NS      | $1865384.64   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Verastem Inc                                              | Verastem Inc                                                                     | CUSIP: 92337C203<br>LEI: 549300IY0EFBIU8NQC81 | Long             | EC               | CORP              | US        |        1108 | NS      | $4598.20      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MILLICOM INTL CELLULAR                                    | Millicom International Cellular SA                                               | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |     7532000 | PA      | $6879469.70   | 0.18%             | 2031-04-27      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CHINA SNRFOR USD 100 Dec 2029 Morgan 1%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | CN        |     2600000 | OU      | $-57524.78    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| ON24 Inc                                                  | ON24 Inc                                                                         | CUSIP: 68339B104<br>LEI: 254900S6S9YKYTO9Q964 | Long             | EC               | CORP              | US        |        2200 | NS      | $11946.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Travelzoo                                                 | Travelzoo                                                                        | CUSIP: 89421Q205<br>LEI: 5493003SM75HBCOOU310 | Long             | EC               | CORP              | US        |        1300 | NS      | $16549.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Women's Care Enterprises LLC                              | Women's Care Enterprises LLC 2nd Lien Term Loan                                  | CUSIP: 97815UAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     2998891 | PA      | $2466587.64   | 0.07%             | 2029-01-12      | Floating      | 12.63%                | No            | 2                  | On Loan: No      |
| Hub Cyber Security Ltd                                    | Hub Cyber Security Ltd                                                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |       -2360 | NS      | $-4531.20     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| FBS Global Ltd                                            | FBS Global Ltd                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -500 | NS      | $-304.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Editas Medicine Inc                                       | Editas Medicine Inc                                                              | CUSIP: 28106W103<br>LEI: 5299000AON4Q9NT2JE42 | Long             | EC               | CORP              | US        |       16700 | NS      | $36740.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Five Below Inc                                            | Five Below Inc                                                                   | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |        8400 | NS      | $1101912.00   | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| Home Depot Inc/The                                        | Home Depot Inc/The                                                               | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Short            | EC               | CORP              | US        |       -4600 | NS      | $-1686544.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.82485% 10/31/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $1828.13      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Crinetics Pharmaceuticals Inc                             | Crinetics Pharmaceuticals Inc                                                    | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |         200 | NS      | $5752.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.382% 10/18/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -2800000 | OU      | $924.36       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 10/01/25 70P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |        -180 | NC      | $-446940.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| FIGRE Trust                                               | FIGRE Trust 2024-HE5                                                             | CUSIP: 31684FAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      251000 | PA      | $254579.51    | 0.01%             | 2054-10-25      | Variable      | 8.63%                 | No            | 2                  | On Loan: No      |
| Arrow Electronics Inc                                     | Arrow Electronics Inc                                                            | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Short            | EC               | CORP              | US        |        -300 | NS      | $-38229.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | EURO FX SEP 25                                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |          71 | NC      | $160760.99    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kratos Defense & Security Solutions Inc                   | Kratos Defense & Security Solutions Inc                                          | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |      133017 | NS      | $6178639.65   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Edible Garden AG Inc                                      | Edible Garden AG Inc                                                             | CUSIP: 28059P402<br>LEI: 529900Q8LWAULQ40UZ68 | Short            | EC               | CORP              | US        |         -16 | NS      | $-42.08       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 2.833% 07/29/2029 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     3000000 | OU      | $84757.72     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-USDCNH(USD) 10/08/25 7.4C                                                     | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DFE              |  | US        |    10000000 | OU      | $8746.10      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Gran Tierra Energy Inc                                    | Gran Tierra Energy Inc                                                           | CUSIP: 38500T200<br>LEI: 549300IH2S17MAIUCM32 | Long             | EC               | CORP              | US        |        2090 | NS      | $9969.30      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Elmwood CLO 21 Ltd                                        | Elmwood CLO 21 Ltd                                                               | CUSIP: 289907AU1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1001514.00   | 0.03%             | 2036-10-20      | Floating      | 8.27%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS AUG 27                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -53 | NC      | $347890.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Hackett Group Inc/The                                     | Hackett Group Inc/The                                                            | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |        4300 | NS      | $109306.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                          | IndyMac INDX Mortgage Loan Trust 2007-FLX5                                       | CUSIP: 45669WAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4186919 | PA      | $3561004.15   | 0.09%             | 2037-08-25      | Floating      | 4.91%                 | No            | 2                  | On Loan: No      |
| Brookfield Infrastructure Corp                            | Brookfield Infrastructure Corp                                                   | CUSIP: 11276H106<br>LEI: 254900YTMKBFJAKUBO55 | Short            | EC               | CORP              | CA        |       -7800 | NS      | $-324480.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) DEC 26                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         152 | NC      | $-69130.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Media Corp-Liberty Formula One                    | Liberty Media Corp-Liberty Formula One                                           | CUSIP: 531229755<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5234 | NS      | $546953.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | SMITHFIELD FOODS INC CFD                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -1244180 | OU      | $-15616.33    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| IREN Ltd                                                  | IREN Ltd                                                                         | CUSIP: 000000000<br>LEI: 254900FZF02RB3NNGB71 | Short            | EC               | CORP              | AU        |      -59900 | NS      | $-872743.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Intrepid Potash, Inc.                                     | Intrepid Potash, Inc.                                                            | CUSIP: 000000000<br>LEI: 549300OZ696E2PRRTO45 | Long             | EC               | CORP              | US        |         800 | NS      | $28584.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Primo Brands Corp                                         | Primo Brands Corp                                                                | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Short            | EC               | CORP              | US        |        -100 | NS      | $-2962.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Weatherford International PLC                             | Weatherford International PLC                                                    | CUSIP: 000000000<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |        7847 | NS      | $394782.57    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.3255% 07/02/2054 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-1891.91     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Brookline Bancorp Inc                                     | Brookline Bancorp Inc                                                            | CUSIP: 11373M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4697 | NS      | $49553.35     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Danone SA                                                 | Danone SA                                                                        | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Short            | EC               | CORP              | FR        |        -817 | NS      | $-66849.52    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BrightSpire Capital Inc                                   | BrightSpire Capital Inc                                                          | CUSIP: 10949T109<br>LEI: 549300BOIFLLMVU37752 | Long             | EC               |  | US        |        1100 | NS      | $5555.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gevo Inc                                                  | Gevo Inc                                                                         | CUSIP: 374396406<br>LEI: 549300IV6EW4O1OJD686 | Short            | EC               | CORP              | US        |      -20900 | NS      | $-27588.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | S&P MID 400 EMINI Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |           2 | NC      | $10140.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Backblaze Inc                                             | Backblaze Inc                                                                    | CUSIP: 05637B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3000 | NS      | $16500.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Corp Trust 2021-ROSS                                      | CUSIP: 36264YAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $352255.00    | 0.01%             | 2026-05-15      | Floating      | 9.23%                 | No            | 2                  | On Loan: No      |
| ReadyCap Commercial Mortgage Trust                        | ReadyCap Commercial Mortgage Trust 2019-6                                        | CUSIP: 75575QAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      227000 | PA      | $189582.91    | 0.01%             | 2052-10-25      | Variable      | 4.67%                 | No            | 2                  | On Loan: No      |
| ADANI PORTS AND SPECIAL                                   | Adani Ports & Special Economic Zone Ltd                                          | CUSIP: 000000000<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |     2424000 | PA      | $2337867.29   | 0.06%             | 2027-07-30      | Fixed         | 4.00%                 | Yes           | 2                  | On Loan: No      |
| KLA Corp                                                  | KLA Corp                                                                         | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |         129 | NS      | $115550.46    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Associated Banc-Corp                                      | Associated Banc-Corp                                                             | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Short            | EC               | CORP              | US        |      -20172 | NS      | $-491995.08   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Pershing Square Holdings Ltd/Fund                         | Pershing Square Holdings Ltd/Fund                                                | CUSIP: 000000000<br>LEI: U7LC4KOKCTZ0YWGI2G56 | Long             | EC               | RF                | GG        |      715539 | NS      | $38449178.91  | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Ethan Allen Interiors Inc                                 | Ethan Allen Interiors Inc                                                        | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $8355.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.78675% 05/22/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      300000 | OU      | $-7260.04     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Peloton Interactive Inc                                   | Peloton Interactive Inc                                                          | CUSIP: 70614W100<br>LEI: 5493002YS021166W0339 | Long             | EC               | CORP              | US        |       90800 | NS      | $630152.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Copart Inc                                                | Copart Inc                                                                       | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      168000 | NS      | $8243760.00   | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Unity Software Inc                                        | Unity Software Inc                                                               | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |         800 | NS      | $19360.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Northrop Grumman Corp                                     | Northrop Grumman Corp                                                            | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |        2900 | NS      | $1449942.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Standard BioTools Inc                                     | Standard BioTools Inc                                                            | CUSIP: 34385P108<br>LEI: 549300GX8Y96GSB6YP89 | Short            | EC               | CORP              | US        |      -16100 | NS      | $-19320.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LSI Industries Inc                                        | LSI Industries Inc                                                               | CUSIP: 50216C108<br>LEI: 529900HY42OANH6BVT33 | Long             | EC               | CORP              | US        |         100 | NS      | $1701.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BJ's Wholesale Club Holdings Inc                          | BJ's Wholesale Club Holdings Inc                                                 | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Short            | EC               | CORP              | US        |       -2100 | NS      | $-226443.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Lockheed Martin Corp                                      | Lockheed Martin Corp                                                             | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Short            | EC               | CORP              | US        |        -102 | NS      | $-47240.28    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hartford Insurance Group Inc/The                          | Hartford Insurance Group Inc/The                                                 | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |         413 | NS      | $52397.31     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Diamondback Energy Inc                                    | Diamondback Energy Inc                                                           | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |        7185 | NS      | $987219.00    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.3642% 08/28/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -300000 | OU      | $-9806.91     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| CURO GROUP HOLDINGS CORP                                  | Curo Group Holdings Corp 2024 PIK 1st Out Term Loan                              | CUSIP: 000000000<br>LEI: 54930007KH8KCGJ4YE72 | Long             | LON              | CORP              | US        |     1451994 | PA      | $1451993.86   | 0.04%             | 2028-07-19      | Floating      | 14.27%                | No            | 3                  | On Loan: No      |
| Birkenstock Holding Plc                                   | Birkenstock Holding Plc                                                          | CUSIP: 000000000<br>LEI: 529900CQ8LQKQ7LIT631 | Long             | EC               | CORP              | JE        |       26604 | NS      | $1308384.72   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Kinsale Capital Group Inc                                 | Kinsale Capital Group Inc                                                        | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |       20018 | NS      | $9686710.20   | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Terawulf Inc                                              | Terawulf Inc                                                                     | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |        5300 | NS      | $23214.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | STANDARDAERO INC CFD                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -4924188 | OU      | $-159371.25   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Ares Commercial Real Estate Corp                          | Ares Commercial Real Estate Corp                                                 | CUSIP: 04013V108<br>LEI: 549300ZNO5IWXS443S81 | Long             | EC               |  | US        |         200 | NS      | $954.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CBOE Futures Exchange LLC                                 | S&P 500 INDEX 07/18/25 5375P                                                     | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               |  | US        |        -739 | NC      | $-189923.00   | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Anheuser-Busch InBev SA/NV                                | Anheuser-Busch InBev SA/NV                                                       | CUSIP: 03524A108<br>LEI: 5493008H3828EMEXB082 | Short            | EC               | CORP              | BE        |       -4900 | NS      | $-336728.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Valmont Industries Inc                                    | Valmont Industries Inc                                                           | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Short            | EC               | CORP              | US        |        -300 | NS      | $-97971.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| IVORY COAST                                               | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     1520507 | PA      | $1444500.66   | 0.04%             | 2032-12-31      | Variable      | 5.75%                 | Yes           | 2                  | On Loan: No      |
| Petroleos Mexicanos                                       | Petroleos Mexicanos                                                              | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    13241000 | PA      | $9590335.81   | 0.26%             | 2047-09-21      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| Digimarc Corp                                             | Digimarc Corp                                                                    | CUSIP: 25381B101<br>LEI: 254900TL728B5T0M5R41 | Short            | EC               | CORP              | US        |        -800 | NS      | $-10568.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SiTime Corp                                               | SiTime Corp                                                                      | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6651 | NS      | $1417195.08   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| McKesson Corp                                             | McKesson Corp                                                                    | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |        1900 | NS      | $1392282.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| New Fortress Energy Inc                                   | New Fortress Energy Inc                                                          | CUSIP: 644393100<br>LEI: 254900EICTYTCHA5X705 | Long             | EC               | CORP              | US        |        5600 | NS      | $18592.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JUN 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         295 | NC      | $-620141.20   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | SOUSD_SOFR_P_5.375_20280714_20270714_LCH                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |     5500000 | NC      | $4456.32      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT JUL27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          30 | NC      | $-75.00       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Enovix Corp                                               | Enovix Corp                                                                      | CUSIP: 293594107<br>LEI: 549300EC7NZGWORHYJ53 | Short            | EC               | CORP              | US        |      -13000 | NS      | $-134420.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD GBP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-5682.67     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      372145 | PA      | $372145.17    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Hilton USA Trust                                          | Hilton USA Trust 2016-SFP                                                        | CUSIP: 43289VAS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1068000 | PA      | $22010.41     | 0.00%             | 2035-11-05      | Fixed         | 6.16%                 | No            | 2                  | On Loan: No      |
| 1stdibs.com Inc                                           | 1stdibs.com Inc                                                                  | CUSIP: 320551104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2200 | NS      | $6050.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | CAL-MAINE FOODS INC CFD                                                          | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |    -1242535 | OU      | $-9814.04     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Leggett & Platt Inc                                       | Leggett & Platt Inc                                                              | CUSIP: 524660107<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | EC               | CORP              | US        |       12900 | NS      | $115068.00    | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| New York Mercantile Exchange                              | NY HARBOR ULSD OCT 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -12 | NC      | $-44273.08    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Illumina Inc                                              | Illumina Inc                                                                     | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Short            | EC               | CORP              | US        |        -300 | NS      | $-28623.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Himax Technologies Inc                                    | Himax Technologies Inc                                                           | CUSIP: 43289P106<br>LEI: 529900Z6XWS79D8T1X09 | Long             | EC               | CORP              | KY        |        6000 | NS      | $53580.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Koppers Holdings Inc                                      | Koppers Holdings Inc                                                             | CUSIP: 50060P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $12860.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 1.5583% 09/26/2026 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     1800000 | OU      | $41338.91     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | IDACORP INC CFD                                                                  | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |    -1541537 | OU      | $-13343.32    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Antero Resources Corp                                     | Antero Resources Corp                                                            | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |       22300 | NS      | $898244.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |     1380000 | PA      | $1266195.84   | 0.03%             | 2030-11-16      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.6445% 09/05/2029 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      500000 | OU      | $5454.06      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Trimble Inc                                               | Trimble Inc                                                                      | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Short            | EC               | CORP              | US        |       -8600 | NS      | $-653428.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Verisk Analytics Inc                                      | Verisk Analytics Inc                                                             | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |        2409 | NS      | $750403.50    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Corpay Inc                                                | Corpay Inc                                                                       | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Short            | EC               | CORP              | US        |       -7548 | NS      | $-2504577.36  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | CRESCENT ENERGY INC-A CFD                                                        | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |     -297300 | OU      | $11306.70     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Humana Inc                                                | Humana Inc                                                                       | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       19600 | NS      | $4791808.00   | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Agree Realty Corp                                         | Agree Realty Corp                                                                | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               |  | US        |       23700 | NS      | $1731522.00   | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| Berry Corp                                                | Berry Corp                                                                       | CUSIP: 08579X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2900 | NS      | $8033.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AZUL SECURED FINANCE LLP                                  | Azul Secured Finance LLP                                                         | CUSIP: 05501WAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1585293 | PA      | $1981616.14   | 0.05%             | 2030-01-28      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| ODP Corp/The                                              | ODP Corp/The                                                                     | CUSIP: 88337F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4000 | NS      | $72520.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures Europe - Financial Products Division          | ICE 3MTH SONIA DEC 25                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         709 | NC      | $128042.47    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| VIET NAM DEBT AND ASSET                                   | Viet Nam Debt & Asset Trading Corp                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | VN        |     7430000 | PA      | $7246514.59   | 0.19%             | 2025-10-10      | Fixed         | 1.00%                 | Yes           | 2                  | On Loan: No      |
| Liquidity Services Inc                                    | Liquidity Services Inc                                                           | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |         600 | NS      | $14154.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Hess Corp                                                 | Hess Corp                                                                        | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Short            | EC               | CORP              | US        |       -5200 | NS      | $-720408.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.481% 09/20/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $5004.46      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.71075% 04/05/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-874.07      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| FARO Technologies Inc                                     | FARO Technologies Inc                                                            | CUSIP: 311642102<br>LEI: 529900MFEFNOFP3YR823 | Long             | EC               | CORP              | US        |         200 | NS      | $8784.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Petco Health & Wellness Co Inc                            | Petco Health & Wellness Co Inc                                                   | CUSIP: 71601V105<br>LEI: 2549007TYGV6RVSE9M61 | Long             | EC               | CORP              | US        |       41700 | NS      | $118011.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-23CB                                                 | CUSIP: 02147RAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      712979 | PA      | $202574.57    | 0.01%             | 2036-08-25      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Primis Financial Corp                                     | Primis Financial Corp                                                            | CUSIP: 74167B109<br>LEI: 549300JNX3M2EENG1F11 | Long             | EC               | CORP              | US        |        1200 | NS      | $13020.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.57125% 09/06/2039 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $2130.56      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| ZORLU ENERJI ELEKTRIK                                     | Zorlu Enerji Elektrik Uretim AS                                                  | CUSIP: 000000000<br>LEI: 7890005B5CSNL39OYO75 | Long             | DBT              | CORP              | TR        |     7651000 | PA      | $7058602.05   | 0.19%             | 2030-04-23      | Fixed         | 11.00%                | Yes           | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 FEB 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $30400.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sensus Healthcare Inc                                     | Sensus Healthcare Inc                                                            | CUSIP: 81728J109<br>LEI: 549300F3JF8NCDJJZW04 | Long             | EC               | CORP              | US        |         300 | NS      | $1422.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Berkshire Hills Bancorp Inc                               | Berkshire Hills Bancorp Inc                                                      | CUSIP: 084680107<br>LEI: 549300AS2OC6UMMBNO37 | Long             | EC               | CORP              | US        |        2800 | NS      | $70112.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| RCM Technologies Inc                                      | RCM Technologies Inc                                                             | CUSIP: 749360400<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $11785.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |      545000 | PA      | $414410.21    | 0.01%             | 2029-04-18      | Fixed         | 4.00%                 | Yes           | 2                  | On Loan: No      |
| Universal Logistics Holdings Inc                          | Universal Logistics Holdings Inc                                                 | CUSIP: 91388P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $7614.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Kingdom of Bahrain                                        | Kingdom of Bahrain                                                               | CUSIP: 000000000<br>LEI: 549300RODM1WN85LFQ95 | Short            | DBT              | NUSS              | BH        |    -4804000 | PA      | $-4853185.88  | -0.13%            | 2037-07-07      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| Weyerhaeuser Co                                           | Weyerhaeuser Co                                                                  | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Short            | EC               |  | US        |      -20600 | NS      | $-529214.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| ROBLOX Corp                                               | ROBLOX Corp                                                                      | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      132300 | NS      | $13917960.00  | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137BTUP4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    15264529 | PA      | $30406.94     | 0.00%             | 2026-11-25      | Variable      | 0.28%                 | No            | 2                  | On Loan: No      |
| Thermo Fisher Scientific Inc                              | Thermo Fisher Scientific Inc                                                     | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Short            | EC               | CORP              | US        |        -235 | NS      | $-95283.10    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fortrea Holdings Inc                                      | Fortrea Holdings Inc                                                             | CUSIP: 34965K107<br>LEI: 5493000FIVFABOVCDU97 | Long             | EC               | CORP              | US        |        2100 | NS      | $10374.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.45405% 08/27/2029 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      600000 | OU      | $-15860.90    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Hillman Solutions Corp                                    | Hillman Solutions Corp                                                           | CUSIP: 431636109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -600 | NS      | $-4284.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Board of Trade                                    | US 10YR NOTE (CBT)Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         178 | NC      | $216561.84    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Ecuador Government International Bonds                    | Ecuador Government International Bonds                                           | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     2081241 | PA      | $1507838.69   | 0.04%             | 2035-07-31      | Variable      | 5.50%                 | Yes           | 2                  | On Loan: No      |
| J-Long Group Ltd                                          | J-Long Group Ltd                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |          45 | NS      | $273.60       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Life Time Group Holdings Inc                              | Life Time Group Holdings Inc                                                     | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       10800 | NS      | $327564.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      617173 | PA      | $617173.16    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| ARABIAN CENTRES SUKUK II                                  | Arabian Centres Sukuk II Ltd                                                     | CUSIP: 000000000<br>LEI: 549300X92PKHJD8UYG94 | Long             | DBT              | CORP              | KY        |     3023000 | PA      | $2916850.38   | 0.08%             | 2026-10-07      | Fixed         | 5.63%                 | Yes           | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy Traxx Europe Xover Series 43 EUR 500 Jun 2030                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     8400000 | OU      | $-936444.04   | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| New Mountain CLO Ltd                                      | New Mountain CLO 2 Ltd                                                           | CUSIP: 64754KAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1503630.00   | 0.04%             | 2038-01-15      | Floating      | 9.96%                 | No            | 2                  | On Loan: No      |
| EW Scripps Co/The                                         | EW Scripps Co/The                                                                | CUSIP: 811054402<br>LEI: 549300U1OW41QPKYW028 | Long             | EC               | CORP              | US        |        9700 | NS      | $28518.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UZAUTO MOTORS AJ                                          | Uzauto Motors AJ                                                                 | CUSIP: 000000000<br>LEI: 25490082QA3E2MKBZI88 | Long             | DBT              | CORP              | UZ        |     1899000 | PA      | $1866202.29   | 0.05%             | 2026-05-04      | Fixed         | 4.85%                 | Yes           | N/A                | On Loan: No      |
| GS Mortgage Securities Trust                              | GS Mortgage Securities Corp Trust 2021-ROSS                                      | CUSIP: 36264YAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1019000 | PA      | $474386.28    | 0.01%             | 2026-05-15      | Floating      | 8.48%                 | No            | 2                  | On Loan: No      |
| Team Health Holdings Inc                                  | Team Health Holdings Inc 2022 Term Loan B                                        | CUSIP: 87817JAG3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |    11120614 | PA      | $11049331.09  | 0.29%             | 2027-03-02      | Floating      | 9.53%                 | No            | 2                  | On Loan: No      |
| Commodities Exchange Center                               | GOLD FUTURE AUG 25 3550C                                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         -63 | NC      | $-25830.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| QXO Inc                                                   | QXO Inc                                                                          | CUSIP: 82846H405<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      210197 | NS      | $4527643.38   | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Avino Silver & Gold Mines Ltd                             | Avino Silver & Gold Mines Ltd                                                    | CUSIP: 053906103<br>LEI: 549300DZZNDMPML1VJ37 | Short            | EC               | CORP              | CA        |        -100 | NS      | $-360.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Montrose Environmental Group Inc                          | Montrose Environmental Group Inc                                                 | CUSIP: 615111101<br>LEI: 254900ASI8K3LUB8Q958 | Short            | EC               | CORP              | US        |       -4100 | NS      | $-89749.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lantheus Holdings Inc                                     | Lantheus Holdings Inc                                                            | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Short            | EC               | CORP              | US        |       -4200 | NS      | $-343812.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     2737913 | PA      | $2737913.00   | 0.07%             |  |  |  | No            | 2                  | On Loan: No      |
| Bain Capital Credit CLO, Limited                          | Bain Capital Credit CLO 2023-2 Ltd                                               | CUSIP: 05685DAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $996927.00    | 0.03%             | 2036-07-18      | Floating      | 12.75%                | No            | 2                  | On Loan: No      |
| Romark CLO Ltd                                            | Romark CLO II Ltd                                                                | CUSIP: 77587EAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     2250000 | PA      | $2164997.25   | 0.06%             | 2031-07-25      | Floating      | 10.79%                | No            | 2                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA19                                                 | CUSIP: 12668RAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      299695 | PA      | $244615.46    | 0.01%             | 2047-02-20      | Floating      | 4.64%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.283836% 03/08/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $8328.75      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Trinity Capital Inc                                       | Trinity Capital Inc                                                              | CUSIP: 896442308<br>LEI: 549300YGT4SBRQYDVU48 | Long             | EC               | CORP              | US        |        5200 | NS      | $73164.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE DEC 25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -87 | NC      | $-2560.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ovintiv Inc                                               | Ovintiv Inc                                                                      | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |          18 | NS      | $684.90       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TPG Inc                                                   | TPG Inc                                                                          | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Short            | EC               | CORP              | US        |        -900 | NS      | $-47205.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Sphere Entertainment Co                                   | Sphere Entertainment Co                                                          | CUSIP: 55826T102<br>LEI: 254900ZW4JWKYRZZ9A91 | Short            | EC               | CORP              | US        |       -3900 | NS      | $-163020.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Apple Inc                                                 | Apple Inc                                                                        | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |       68767 | NS      | $14108925.39  | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Asana Inc                                                 | Asana Inc                                                                        | CUSIP: 04342Y104<br>LEI: 254900X7UAJNMLPLZ510 | Long             | EC               | CORP              | US        |       11700 | NS      | $157950.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| International Business Machines Corp                      | International Business Machines Corp                                             | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Short            | EC               | CORP              | US        |       -9600 | NS      | $-2829888.00  | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| ATI PENNY WARRANT                                         | ATI PENNY WARRANT                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      111184 | NS      | $1111.84      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Bain Capital Credit CLO, Limited                          | Bain Capital Credit CLO 2020-4 Ltd                                               | CUSIP: 05684KBA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $1002407.00   | 0.03%             | 2036-10-20      | Floating      | 9.02%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | BOUGHT BRL/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | BR        |           1 | NC      | $81003.76     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| AbbVie Inc                                                | AbbVie Inc                                                                       | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Short            | EC               | CORP              | US        |       -1038 | NS      | $-192673.56   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| CASI Pharmaceuticals Holdings Inc                         | CASI Pharmaceuticals Holdings Inc                                                | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -447 | NS      | $-527.46      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Atlas CC Acquisition Corp                                 | Atlas CC Acquisition Corp Term Loan B                                            | CUSIP: 04921TAB0<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |     1212159 | PA      | $627728.90    | 0.02%             | 2028-05-25      | Floating      | 8.84%                 | No            | 2                  | On Loan: No      |
| B2Gold Corp                                               | B2Gold Corp                                                                      | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |      310200 | NS      | $1119822.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Verizon Communications Inc                                | Verizon Communications Inc                                                       | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Short            | EC               | CORP              | US        |      -18894 | NS      | $-817543.38   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS SEP 25                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $-25440.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                                              | Alphabet Inc                                                                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Short            | EC               | CORP              | US        |       -3810 | NS      | $-675855.90   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| EVgo Inc                                                  | EVgo Inc                                                                         | CUSIP: 30052F100<br>LEI: 254900NJU5Y3D9R42S26 | Long             | EC               | CORP              | US        |       28200 | NS      | $102930.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nomura Asset Acceptance Corporation                       | Nomura Asset Acceptance Corp Alternative Loan Trust Series 2006-AR3              | CUSIP: 65537EAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      280259 | PA      | $244281.45    | 0.01%             | 2036-10-25      | Floating      | 4.77%                 | No            | 2                  | On Loan: No      |
| Carisma Therapeutics Inc                                  | Carisma Therapeutics Inc                                                         | CUSIP: 14216R101<br>LEI: 549300DGKHONOZQIY116 | Long             | EC               | CORP              | US        |          22 | NS      | $8.62         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 1.091% 07/06/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |     -100000 | OU      | $9668.12      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | GAS OIL OCT 25                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -93 | NC      | $75766.67     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Deutsche Post AG                                          | Deutsche Post AG                                                                 | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Short            | EC               | CORP              | DE        |       -1022 | NS      | $-47338.87    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Neumora Therapeutics Inc                                  | Neumora Therapeutics Inc                                                         | CUSIP: 640979100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       18400 | NS      | $13492.71     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Danaher Corp                                              | Danaher Corp                                                                     | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       22674 | NS      | $4479021.96   | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                | JPMBB Commercial Mortgage Securities Trust 2014-C23                              | CUSIP: 46643AAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $87347.20     | 0.00%             | 2047-09-15      | Variable      | 4.20%                 | No            | 2                  | On Loan: No      |
| Voyager Therapeutics Inc                                  | Voyager Therapeutics Inc                                                         | CUSIP: 92915B106<br>LEI: 54930082S4XVR0ZWCC74 | Short            | EC               | CORP              | US        |       -1400 | NS      | $-4354.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WP Carey Inc                                              | WP Carey Inc                                                                     | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Short            | EC               |  | US        |       -9616 | NS      | $-599846.08   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  MAY27                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          54 | NC      | $-171692.88   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| PETRORIO LUX HLD SARL                                     | Petrorio Luxembourg Holding Sarl                                                 | CUSIP: 000000000<br>LEI: 2221003VQP4JY7T31H94 | Long             | DBT              | CORP              | LU        |     2759000 | PA      | $2764040.69   | 0.07%             | 2026-06-09      | Fixed         | 6.13%                 | Yes           | 2                  | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                          | IndyMac INDX Mortgage Loan Trust 2007-FLX2                                       | CUSIP: 45668RAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      207716 | PA      | $211564.15    | 0.01%             | 2037-04-25      | Floating      | 4.81%                 | No            | 2                  | On Loan: No      |
| Sprout Social Inc                                         | Sprout Social Inc                                                                | CUSIP: 85209W109<br>LEI: 254900QE3QH8EBRDOB65 | Long             | EC               | CORP              | US        |         400 | NS      | $8364.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Longeveron Inc                                            | Longeveron Inc                                                                   | CUSIP: 54303L203<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-520.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NWPX Infrastructure Inc                                   | NWPX Infrastructure Inc                                                          | CUSIP: 667746101<br>LEI: 54930056VW2CRCZ9RE54 | Long             | EC               | CORP              | US        |         400 | NS      | $16404.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.7455% 08/30/2029 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      500000 | OU      | $2387.71      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Galaxy CLO Ltd                                            | Galaxy 32 CLO Ltd                                                                | CUSIP: 362943AG7<br>LEI: 391200J1K1EF617W8568 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1001994.00   | 0.03%             | 2036-10-20      | Floating      | 8.57%                 | No            | 2                  | On Loan: No      |
| WMRK Commercial Mortgage Trust                            | WMRK Commercial Mortgage Trust 2022-WMRK                                         | CUSIP: 929342AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2696000 | PA      | $2707821.96   | 0.07%             | 2027-11-15      | Floating      | 8.39%                 | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     2133817 | PA      | $2133817.41   | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| CONTRA ADURO BIOTECH I                                    | CONTRA ADURO BIOTECH I                                                           | CUSIP: 007CVR012<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1040 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| REE Automotive Ltd                                        | REE Automotive Ltd                                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |        -100 | NS      | $-59.51       | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-31CB                                                 | CUSIP: 02148HAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      429033 | PA      | $249930.44    | 0.01%             | 2036-11-25      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Installed Building Products Inc                           | Installed Building Products Inc                                                  | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Short            | EC               | CORP              | US        |        -215 | NS      | $-38768.80    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Rekor Systems Inc                                         | Rekor Systems Inc                                                                | CUSIP: 759419104<br>LEI: 549300BHH76SEFU1DD95 | Short            | EC               | CORP              | US        |      -28000 | NS      | $-32480.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Cass Information Systems Inc                              | Cass Information Systems Inc                                                     | CUSIP: 14808P109<br>LEI: 549300G7XPIPR7SJ2F38 | Long             | EC               | CORP              | US        |         300 | NS      | $13035.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD CNH/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-581.06      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.99% 12/11/2054 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      100000 | OU      | $10987.88     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | OAK THISTLE MS ALPHASWAP MF SWAP                                                 | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |   131788794 | OU      | $-126294.24   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Norwegian Cruise Line Holdings Ltd                        | Norwegian Cruise Line Holdings Ltd                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | BM        |       -6113 | NS      | $-123971.64   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Financial Select Sector SPDR Fund                         | Financial Select Sector SPDR Fund                                                | CUSIP: 81369Y605<br>LEI: 549300Y12KQ6ZG08NY28 | Long             | EC               | RF                | US        |       62000 | NS      | $3246940.00   | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NY HARBOR ULSD AUG 25                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         201 | NC      | $364255.58    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity National Information Services Inc                | Fidelity National Information Services Inc                                       | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Short            | EC               | CORP              | US        |      -86700 | NS      | $-7058247.00  | -0.19%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT SEP27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          28 | NC      | $840.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TKC HOLDINGS INC                                          | TKC Holdings Inc                                                                 | CUSIP: 87256YAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     9832000 | PA      | $10102693.22  | 0.27%             | 2029-05-15      | Fixed         | 10.50%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.5147% 04/14/2055 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $5762.39      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.93176% 12/07/2054 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      100000 | OU      | $12350.65     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| IN8bio Inc                                                | IN8bio Inc                                                                       | CUSIP: 45674E208<br>LEI: 549300H68IVCRKSGSL94 | Short            | EC               | CORP              | US        |        -300 | NS      | $-627.00      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| McEwen Mining Inc                                         | McEwen Mining Inc                                                                | CUSIP: 58039P305<br>LEI: 5493000FX50GEWAF3U70 | Long             | EC               | CORP              | US        |        2700 | NS      | $25947.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Global Markets Ltd.                             | Buy MEXICO SNRFOR USD 100 Jun 2030 CITI_ISDA 1%                                  | CUSIP: 000000000<br>LEI: XKZZ2JZF41MRHTR1V493 | N/A              | DCR              |  | MX        |     4900000 | OU      | $14942.69     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| U-Haul Holding Co                                         | U-Haul Holding Co                                                                | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |         800 | NS      | $48448.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| COLT Funding LLC                                          | COLT 2022-2 Mortgage Loan Trust                                                  | CUSIP: 19685EAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $84412.80     | 0.00%             | 2067-02-25      | Variable      | 3.95%                 | No            | 2                  | On Loan: No      |
| Autodesk Inc                                              | Autodesk Inc                                                                     | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Short            | EC               | CORP              | US        |       -1000 | NS      | $-309570.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JUL 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-30050.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| First Community Bankshares Inc                            | First Community Bankshares Inc                                                   | CUSIP: 31983A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $7834.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Primoris Services Corp                                    | Primoris Services Corp                                                           | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Short            | EC               | CORP              | US        |        -800 | NS      | $-62352.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Li Auto Inc                                               | Li Auto Inc                                                                      | CUSIP: 50202M102<br>LEI: 2549003R73Q70J5H4I65 | Short            | EC               | CORP              | KY        |      -11200 | NS      | $-303632.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Regeneron Pharmaceuticals Inc                             | Regeneron Pharmaceuticals Inc                                                    | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       18800 | NS      | $9870000.00   | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| OrthoPediatrics Corp                                      | OrthoPediatrics Corp                                                             | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Short            | EC               | CORP              | US        |        -300 | NS      | $-6444.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| UZBEKISTAN INTL BOND                                      | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     4584000 | PA      | $4710465.41   | 0.13%             | 2032-02-28      | Fixed         | 6.90%                 | Yes           | 2                  | On Loan: No      |
| Benefit Street Partners CLO Ltd                           | Benefit Street Partners CLO XL Ltd                                               | CUSIP: 08187CAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1000000.00   | 0.03%             | 2038-07-25      | Floating      | 0.00%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | GAS OIL JUL 25                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |          -1 | NC      | $2050.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Restaurant Brands International Inc                       | Restaurant Brands International Inc                                              | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Short            | EC               | CORP              | CA        |      -20900 | NS      | $-1385461.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | PRIMARY ALUMNM OP SEP 25 2300P                                                   | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         -80 | NC      | $-14060.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Grindr Inc                                                | Grindr Inc                                                                       | CUSIP: 39854F101<br>LEI: 254900J9EDQSYT0ERQ67 | Long             | EC               | CORP              | US        |       27100 | NS      | $615170.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Vimeo Inc                                                 | Vimeo Inc                                                                        | CUSIP: 92719V100<br>LEI: 25490061AWYWC90UIJ68 | Long             | EC               | CORP              | US        |        2000 | NS      | $8080.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | S&P 500 EMINI OPTION 09/19/25 5700P                                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |          52 | NC      | $140400.00    | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | GAS OIL NOV 25                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         103 | NC      | $-239271.69   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| HEICO Corp                                                | HEICO Corp                                                                       | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |       67800 | NS      | $17543250.00  | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 OCT 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $-2480.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FNAH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     9297000 | PA      | $701486.54    | 0.02%             | 2047-08-25      | Variable      | 2.17%                 | No            | 2                  | On Loan: No      |
| Cboe Global Markets Inc                                   | Cboe Global Markets Inc                                                          | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |        3300 | NS      | $769593.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Agora Inc                                                 | Agora Inc                                                                        | CUSIP: 00851L103<br>LEI: 5493001S8SBPD13GC964 | Long             | EC               | CORP              | KY        |         400 | NS      | $1524.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.631405% 03/31/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -100000 | OU      | $-2127.12     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Equinox Gold Corp                                         | Equinox Gold Corp                                                                | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |       59000 | NS      | $339250.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Hyliion Holdings Corp                                     | Hyliion Holdings Corp                                                            | CUSIP: 449109107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-528.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BHMS Mortgage Trust                                       | BHMS 2018-ATLS                                                                   | CUSIP: 05549GAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      525000 | PA      | $523896.98    | 0.01%             | 2035-07-15      | Floating      | 6.51%                 | No            | 2                  | On Loan: No      |
| Jefferies Financial Group Inc                             | Jefferies Financial Group Inc                                                    | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |        7400 | NS      | $404706.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Confluent Inc                                             | Confluent Inc                                                                    | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Short            | EC               | CORP              | US        |      -17000 | NS      | $-423810.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| iSpecimen Inc                                             | iSpecimen Inc                                                                    | CUSIP: 45032V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          26 | NS      | $25.48        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Merit                                                     | MHP 2022-MHIL                                                                    | CUSIP: 55293DAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       80000 | PA      | $79775.84     | 0.00%             | 2039-01-15      | Floating      | 7.57%                 | No            | 2                  | On Loan: No      |
| Obsidian Energy Ltd                                       | Obsidian Energy Ltd                                                              | CUSIP: 674482203<br>LEI: 549300DITPHH8W8CK636 | Long             | EC               | CORP              | CA        |         200 | NS      | $1110.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | GASOLINE RBOB OCT 25                                                             | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -58 | NC      | $395796.41    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Applied Materials Inc                                     | Applied Materials Inc                                                            | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Short            | EC               | CORP              | US        |        -200 | NS      | $-36614.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Village Super Market Inc                                  | Village Super Market Inc                                                         | CUSIP: 927107409<br>LEI: 25490069686XCNNEMQ07 | Long             | EC               | CORP              | US        |         200 | NS      | $7700.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Integer Holdings Corp                                     | Integer Holdings Corp                                                            | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |         500 | NS      | $61485.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | HENRY HUB PENULT MAY 26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -30 | NC      | $-6000.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE (IPE) 06/01/26 65P                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         225 | NC      | $308250.00    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Ferrovial SE                                              | Ferrovial SE                                                                     | CUSIP: 000000000<br>LEI: 72450022R2ZFL41Y6I04 | Short            | EC               | CORP              | NL        |          -1 | NS      | $-53.57       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Hayward Holdings Inc                                      | Hayward Holdings Inc                                                             | CUSIP: 421298100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1000 | NS      | $-13800.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Chewy Inc                                                 | Chewy Inc                                                                        | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |       93056 | NS      | $3966046.72   | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL FUT DEC 26 50P                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          84 | NC      | $286440.00    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| KKR Financial CLO Ltd                                     | KKR CLO 43 Ltd                                                                   | CUSIP: 48256BAD7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     2000000 | PA      | $1999124.00   | 0.05%             | 2036-01-15      | Floating      | 12.23%                | No            | 2                  | On Loan: No      |
| Ferroglobe PLC                                            | Ferroglobe PLC                                                                   | CUSIP: 000000000<br>LEI: 2138005GCFJACFTZUD90 | Short            | EC               | CORP              | GB        |       -1100 | NS      | $-4037.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Deutsche Boerse AG                                        | Deutsche Boerse AG                                                               | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Short            | EC               | CORP              | DE        |         -24 | NS      | $-7840.55     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Palmer Square CLO Ltd                                     | Palmer Square CLO 2025-2 Ltd                                                     | CUSIP: 69704BAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1001396.00   | 0.03%             | 2038-07-20      | Floating      | 7.42%                 | No            | 2                  | On Loan: No      |
| Boot Barn Holdings Inc                                    | Boot Barn Holdings Inc                                                           | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Short            | EC               | CORP              | US        |       -6700 | NS      | $-1018400.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Procore Technologies Inc                                  | Procore Technologies Inc                                                         | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Short            | EC               | CORP              | US        |      -21500 | NS      | $-1471030.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Commodities Exchange Center                               | COPPER (25000) SEP 25                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        -246 | NC      | $-799074.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| First Financial Corp                                      | First Financial Corp                                                             | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $16257.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Targa Resources Corp                                      | Targa Resources Corp                                                             | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Short            | EC               | CORP              | US        |        -500 | NS      | $-87040.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CHF 0.549% 04/16/2035 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CH        |     -200000 | OU      | $1123.60      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Nurix Therapeutics Inc                                    | Nurix Therapeutics Inc                                                           | CUSIP: 67080M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4600 | NS      | $52394.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Healthcare Services Group Inc                             | Healthcare Services Group Inc                                                    | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |        2300 | NS      | $34569.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New Horizon Aircraft Ltd                                  | New Horizon Aircraft Ltd                                                         | CUSIP: 64550A107<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |       -2839 | NS      | $-4854.69     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Encore Capital Group Inc                                  | Encore Capital Group Inc                                                         | CUSIP: 292554102<br>LEI: 5493000UVC6H49CIH830 | Long             | EC               | CORP              | US        |         200 | NS      | $7742.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nelnet Inc                                                | Nelnet Inc                                                                       | CUSIP: 64031N108<br>LEI: 549300T6B0Q52I6OM558 | Short            | EC               | CORP              | US        |        -100 | NS      | $-12112.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN OCT 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-5340.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.6183% 10/21/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $6734.08      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Utilities Select Sector SPDR Fund                         | Utilities Select Sector SPDR Fund                                                | CUSIP: 81369Y886<br>LEI: 549300ERQDM80PRYUH21 | Long             | EC               | RF                | US        |         746 | NS      | $60918.36     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Postal Realty Trust Inc                                   | Postal Realty Trust Inc                                                          | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               |  | US        |        2500 | NS      | $36825.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | CSAIL 2016-C5 Commercial Mortgage Trust                                          | CUSIP: 12636LBE9<br>LEI: 549300FU8TZDHFLQZL50 | Long             | ABS-MBS          | CORP              | US        |      355000 | PA      | $349666.13    | 0.01%             | 2048-11-15      | Variable      | 4.78%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT AUG 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-35650.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Summit Therapeutics Inc                                   | Summit Therapeutics Inc                                                          | CUSIP: 86627T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        3078 | NS      | $65499.84     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Zeta Global Holdings Corp                                 | Zeta Global Holdings Corp                                                        | CUSIP: 98956A105<br>LEI: 2549008P9XSJQHGQ9S27 | Long             | EC               | CORP              | US        |       17200 | NS      | $266428.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Soho House & Co Inc                                       | Soho House & Co Inc                                                              | CUSIP: 586001109<br>LEI: 213800XNSPPBRF2E5A41 | Short            | EC               | CORP              | US        |       -2500 | NS      | $-18375.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| THAMES WATER SUPER SEN                                    | Thames Water Super Senior Issuer PLC                                             | CUSIP: 000000000<br>LEI: 635400LBEYCV7F4FC741 | Long             | DBT              | CORP              | GB        |      145544 | PA      | $218795.48    | 0.01%             | 2027-10-10      | Fixed         | 9.75%                 | No            | 2                  | On Loan: No      |
| Syndax Pharmaceuticals Inc                                | Syndax Pharmaceuticals Inc                                                       | CUSIP: 87164F105<br>LEI: 529900OF94TRHKZVBS87 | Long             | EC               | CORP              | US        |        7100 | NS      | $66491.69     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Commercial Vehicle Group Inc                              | Commercial Vehicle Group Inc                                                     | CUSIP: 202608105<br>LEI: 5493006OG8I91X0K7Q22 | Long             | EC               | CORP              | US        |        8300 | NS      | $13778.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellium SE                                            | Constellium SE                                                                   | CUSIP: 000000000<br>LEI: 724500KRJEMC79KAAU28 | Short            | EC               | CORP              | FR        |       -5900 | NS      | $-78470.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | MPLX LP CFD                                                                      | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    11569594 | OU      | $85985.64     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Bulldog Purchaser, Inc.                                   | Bulldog Purchaser Inc. 2025 Fungible Add On Term Loan B                          | CUSIP: 000000000<br>LEI: 254900JB2GC3Q5OISZ63 | Long             | LON              | CORP              | US        |       12000 | PA      | $11970.00     | 0.00%             | N/A             | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 27C                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        -660 | NC      | $-2102100.00  | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| MAG Silver Corp                                           | MAG Silver Corp                                                                  | CUSIP: 55903Q104<br>LEI: 254900LGL904N7F3EL14 | Short            | EC               | CORP              | CA        |       -6300 | NS      | $-133119.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| OPKO Health Inc                                           | OPKO Health Inc                                                                  | CUSIP: 68375N103<br>LEI: 529900A4S2D4OGOJLL02 | Long             | EC               | CORP              | US        |        2801 | NS      | $3697.32      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS FEB 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -17 | NC      | $-14930.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT OCT 25 3.75P                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -200 | NC      | $-976400.00   | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Patrick Industries Inc                                    | Patrick Industries Inc                                                           | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Short            | EC               | CORP              | US        |       -1350 | NS      | $-124564.50   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SOUSD_SOFR_P_3.22_20590831_20290831_LCH                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $423352.09    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| fuboTV Inc                                                | fuboTV Inc                                                                       | CUSIP: 35953D104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       57600 | NS      | $222336.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Gauzy Ltd                                                 | Gauzy Ltd                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |        -200 | NS      | $-1688.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.925% 09/21/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $3756.85      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Cibus Inc                                                 | Cibus Inc                                                                        | CUSIP: 17166A101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1500 | NS      | $-2070.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ezgo Technologies Ltd                                     | Ezgo Technologies Ltd                                                            | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | VG        |         -20 | NS      | $-6.41        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 4.0698% 10/31/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |      200000 | OU      | $6075.61      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Onconetix Inc                                             | Onconetix Inc                                                                    | CUSIP: 68237Q203<br>LEI: 549300UCYUY1KG3FO613 | Short            | EC               | CORP              | US        |        -125 | NS      | $-596.25      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Primo Brands Corp                                         | Primo Brands Corp                                                                | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |      451048 | NS      | $13360041.76  | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Rivian Automotive Inc                                     | Rivian Automotive Inc                                                            | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Long             | EC               | CORP              | US        |      210900 | NS      | $2897766.00   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE AUG 25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         128 | NC      | $-280.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| HarborView Mortgage Loan Trust                            | HarborView Mortgage Loan Trust 2006-4                                            | CUSIP: 41161PL27<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      536167 | PA      | $271562.30    | 0.01%             | 2046-05-19      | Floating      | 4.79%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  MAR26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-612577.36   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Travel + Leisure Co                                       | Travel + Leisure Co                                                              | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Short            | EC               | CORP              | US        |        -800 | NS      | $-41288.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-27.35       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Teekay Tankers Ltd                                        | Teekay Tankers Ltd                                                               | CUSIP: 000000000<br>LEI: 549300DE8ZAIYS2T6Q22 | Short            | EC               | CORP              | BM        |         -37 | NS      | $-1543.64     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Dryden Senior Loan Fund                                   | Dryden 107 CLO Ltd                                                               | CUSIP: 26254GAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |      500000 | PA      | $499431.50    | 0.01%             | 2035-08-15      | Floating      | 12.06%                | No            | 2                  | On Loan: No      |
| New York Times Co/The                                     | New York Times Co/The                                                            | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |        8500 | NS      | $475830.00    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Hookipa Pharma Inc                                        | Hookipa Pharma Inc                                                               | CUSIP: 43906K209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          60 | NS      | $75.30        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FQ3J0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     5935000 | PA      | $586538.25    | 0.02%             | 2032-10-25      | Variable      | 2.82%                 | No            | 2                  | On Loan: No      |
| HomeTrust Bancshares Inc                                  | HomeTrust Bancshares Inc                                                         | CUSIP: 437872104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $11223.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Board of Trade                                   | COFFEE (37500) SEP 25                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |         -26 | NC      | $344689.43    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Walmart Inc                                               | Walmart Inc                                                                      | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Short            | EC               | CORP              | US        |      -47402 | NS      | $-4634967.56  | -0.12%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.726155% 04/12/2055 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      100000 | OU      | $3333.57      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| AGM Group Holdings Inc                                    | AGM Group Holdings Inc                                                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | VG        |        -100 | NS      | $-233.00      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| REGENXBIO Inc                                             | REGENXBIO Inc                                                                    | CUSIP: 75901B107<br>LEI: 549300EOES47LATSET33 | Long             | EC               | CORP              | US        |        2900 | NS      | $23809.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iBio Inc                                                  | iBio Inc                                                                         | CUSIP: 451033708<br>LEI: 529900EW4RXUITGKUT34 | Short            | EC               | CORP              | US        |       -5500 | NS      | $-4197.07     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sera Prognostics Inc                                      | Sera Prognostics Inc                                                             | CUSIP: 81749D107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -429 | NS      | $-1188.33     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Solid Power Inc                                           | Solid Power Inc                                                                  | CUSIP: 83422N105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -34800 | NS      | $-76212.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Citibank NA                                               | DO-USDCNH(USD) 07/18/25 7.4C                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |     1245000 | OU      | $2573.66      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | SOLD BRL/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |           1 | NC      | $-40846.44    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT OCT 25 4.05P                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         100 | NC      | $688600.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Commercial Mortgage Trust                       | Citigroup Commercial Mortgage Trust 2016-GC37                                    | CUSIP: 17290XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $90778.10     | 0.00%             | 2049-04-10      | Fixed         | 2.79%                 | No            | 2                  | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-XAGUSD(USD) 12/29/25 45C                                                      | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DCO              |  | US        |     -200000 | NC      | $-86411.59    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Spok Holdings Inc                                         | Spok Holdings Inc                                                                | CUSIP: 84863T106<br>LEI: 549300HXXANIVN2ICC89 | Long             | EC               | CORP              | US        |         900 | NS      | $15912.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.9635% 04/12/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -200000 | OU      | $-7545.42     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Great Lakes Dredge & Dock Corp                            | Great Lakes Dredge & Dock Corp                                                   | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               | CORP              | US        |        3300 | NS      | $40227.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Autohome Inc                                              | Autohome Inc                                                                     | CUSIP: 05278C107<br>LEI: 529900NYB6ZGZN3MVT56 | Short            | EC               | CORP              | KY        |        -900 | NS      | $-23211.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Metrocity Bankshares Inc                                  | Metrocity Bankshares Inc                                                         | CUSIP: 59165J105<br>LEI: 549300TC6QB7YG0P6F52 | Long             | EC               | CORP              | US        |         100 | NS      | $2858.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Apogee Enterprises Inc                                    | Apogee Enterprises Inc                                                           | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |        1400 | NS      | $56840.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT CNH/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CN        |           1 | NC      | $2022.97      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Noodles & Co                                              | Noodles & Co                                                                     | CUSIP: 65540B105<br>LEI: 5299003PCPK4UINV4362 | Short            | EC               | CORP              | US        |       -2500 | NS      | $-1782.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Tempest Therapeutics Inc                                  | Tempest Therapeutics Inc                                                         | CUSIP: 87978U207<br>LEI: 529900QLMOA3D8VSCN33 | Short            | EC               | CORP              | US        |        -527 | NS      | $-3583.60     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS AUG 25                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -361 | NC      | $1841300.44   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Capri Holdings Ltd                                        | Capri Holdings Ltd                                                               | CUSIP: 000000000<br>LEI: 549300LPG8W0H1OX3A26 | Short            | EC               | CORP              | VG        |      -25600 | NS      | $-453120.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Mama's Creations Inc                                      | Mama's Creations Inc                                                             | CUSIP: 56146T103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-2490.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nasdaq Inc                                                | Nasdaq Inc                                                                       | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |       89787 | NS      | $8028753.54   | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Veris Residential Inc                                     | Veris Residential Inc                                                            | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               |  | US        |        2200 | NS      | $32758.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | WAYSTAR HOLDING CORP CFD                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -5033429 | OU      | $-218120.52   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CATTLE OCT 25                                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |         700 | NC      | $1304593.56   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Global-e Online Ltd                                       | Global-e Online Ltd                                                              | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IL        |      -14800 | NS      | $-496392.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Oscar Health Inc                                          | Oscar Health Inc                                                                 | CUSIP: 687793109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1900 | NS      | $40736.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nabors Industries Ltd                                     | Nabors Industries Ltd                                                            | CUSIP: 000000000<br>LEI: 5493008TXYN3II3PU369 | Long             | EC               | CORP              | BM        |         200 | NS      | $5604.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | GUARDIAN PHRMCY SERVICES-A CFD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     -697925 | OU      | $-15384.58    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Mattel Inc                                                | Mattel Inc                                                                       | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Short            | EC               | CORP              | US        |      -25000 | NS      | $-493000.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| NextDecade Corp                                           | NextDecade Corp                                                                  | CUSIP: 65342K105<br>LEI: 549300XB4GCLNGHFTT48 | Short            | EC               | CORP              | US        |       -5900 | NS      | $-52569.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BellRing Brands Inc                                       | BellRing Brands Inc                                                              | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Short            | EC               | CORP              | US        |        -700 | NS      | $-40551.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Metropolitan Bank Holding Corp                            | Metropolitan Bank Holding Corp                                                   | CUSIP: 591774104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1000 | NS      | $70000.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Bluemountain CLO Ltd                                      | BlueMountain CLO XXIX Ltd                                                        | CUSIP: 09630LAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $975421.00    | 0.03%             | 2034-07-25      | Floating      | 11.40%                | No            | 2                  | On Loan: No      |
| Northfield Bancorp Inc                                    | Northfield Bancorp Inc                                                           | CUSIP: 66611T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2800 | NS      | $32144.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | TTF NATURAL GAS (744) AUG 26                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DCO              |  | DE        |          55 | NC      | $-301549.92   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1      AUG25                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -93 | NC      | $151590.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Commvault Systems Inc                                     | Commvault Systems Inc                                                            | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |        2000 | NS      | $348660.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Dassault Systemes SE                                      | Dassault Systemes SE                                                             | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Short            | EC               | CORP              | FR        |       -1623 | NS      | $-58750.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AirNet Technology Inc                                     | AirNet Technology Inc                                                            | CUSIP: 000000000<br>LEI: 529900PGDUDB8WCIAX18 | Short            | EC               | CORP              | KY        |       -1000 | NS      | $-630.00      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Cameco Corp                                               | Cameco Corp                                                                      | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Short            | EC               | CORP              | CA        |       -6500 | NS      | $-482495.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Hong Kong Futures Exchange Ltd.                           | HANG SENG IDX FUT Jul25                                                          | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | N/A              | DE               |  | HK        |          49 | NC      | $-37255.02    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS MAY 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         143 | NC      | $-178183.37   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Federal Signal Corp                                       | Federal Signal Corp                                                              | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |         300 | NS      | $31926.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS LAST DAY  SEP26                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -138 | NC      | $-711937.36   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| ESS Tech Inc                                              | ESS Tech Inc                                                                     | CUSIP: 26916J205<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2412 | NS      | $-3207.96     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Republic of South Africa                                  | Republic of South Africa Government International Bond                           | CUSIP: 836205AR5<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     8097000 | PA      | $8089160.32   | 0.22%             | 2025-09-16      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| Canyon Capital CLO Ltd                                    | Canyon Capital CLO 2022-2 Ltd                                                    | CUSIP: 13877LBC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     2000000 | PA      | $2003130.00   | 0.05%             | 2038-04-15      | Floating      | 8.26%                 | No            | 2                  | On Loan: No      |
| Peoples Bancorp Inc/OH                                    | Peoples Bancorp Inc/OH                                                           | CUSIP: 709789101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         700 | NS      | $21378.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Venture Global Inc                                        | Venture Global Inc                                                               | CUSIP: 92333F101<br>LEI: 2549007XC91CAB3E0N98 | Short            | EC               | CORP              | US        |       -3400 | NS      | $-52972.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Rentokil Initial PLC                                      | Rentokil Initial PLC                                                             | CUSIP: 760125104<br>LEI: 549300VN4WV7Z6T14K68 | Short            | EC               | CORP              | GB        |       -3200 | NS      | $-76800.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER JUN 26 8000P                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          60 | NC      | $234630.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Bausch & Lomb Corporation                                 | Bausch & Lomb Corporation 2025 Term Loan B                                       | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |      214656 | PA      | $214791.30    | 0.01%             | 2030-06-26      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE FUTR  Dec26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         -45 | NC      | $96364.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 1.785% 04/14/2027 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |   -11300000 | OU      | $-3450.33     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.558% 04/09/2035 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $-825.52      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Columbia Financial Inc                                    | Columbia Financial Inc                                                           | CUSIP: 197641103<br>LEI: 254900B9UDXFOJAZKN61 | Long             | EC               | CORP              | US        |         100 | NS      | $1451.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Centessa Pharmaceuticals PLC                              | Centessa Pharmaceuticals PLC                                                     | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Short            | EC               | CORP              | GB        |       -6800 | NS      | $-89352.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AeroVironment Inc                                         | AeroVironment Inc                                                                | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Short            | EC               | CORP              | US        |       -3226 | NS      | $-919248.70   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Crexendo Inc                                              | Crexendo Inc                                                                     | CUSIP: 226552107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $1214.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| RB Global Inc                                             | RB Global Inc                                                                    | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Short            | EC               | CORP              | CA        |      -31100 | NS      | $-3302509.00  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Jasper Therapeutics Inc                                   | Jasper Therapeutics Inc                                                          | CUSIP: 471871202<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -200 | NS      | $-1110.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NeuroPace Inc                                             | NeuroPace Inc                                                                    | CUSIP: 641288105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $2228.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Talos Energy Inc                                          | Talos Energy Inc                                                                 | CUSIP: 87484T108<br>LEI: 549300OKFHZ84SFJFT95 | Short            | EC               | CORP              | US        |        -800 | NS      | $-6784.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy SAUDI SNRFOR USD 100 Jun 2035 GOLD_ISDA 1%                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | SA        |    10200000 | OU      | $59271.97     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN MAR 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-1590.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fortune Brands Innovations Inc                            | Fortune Brands Innovations Inc                                                   | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Short            | EC               | CORP              | US        |       -1603 | NS      | $-82522.44    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Community Health Systems Inc                              | Community Health Systems Inc                                                     | CUSIP: 203668108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       27500 | NS      | $93500.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Mirion Technologies Inc                                   | Mirion Technologies Inc                                                          | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Short            | EC               | CORP              | US        |      -19600 | NS      | $-421988.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of New York Mellon Corp/The                          | Bank of New York Mellon Corp/The                                                 | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Short            | EC               | CORP              | US        |       -2200 | NS      | $-200442.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | BOUGHT TRY/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | TR        |           1 | NC      | $4.71         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Westamerica BanCorp                                       | Westamerica BanCorp                                                              | CUSIP: 957090103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         800 | NS      | $38752.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Securitas AB                                              | Securitas AB                                                                     | CUSIP: 000000000<br>LEI: 635400TTYKE8EIWDS617 | Short            | EC               | CORP              | SE        |        -432 | NS      | $-6468.06     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.8009% 10/31/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $2391.43      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Kinetik Holdings Inc                                      | Kinetik Holdings Inc                                                             | CUSIP: 02215L209<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -20 | NS      | $-881.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NOV Inc                                                   | NOV Inc                                                                          | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Short            | EC               | CORP              | US        |        -500 | NS      | $-6215.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lionsgate Studios Corp                                    | Lionsgate Studios Corp                                                           | CUSIP: 53626N102<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |       -1108 | NS      | $-6437.48     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy SAUDI SNRFOR USD 100 Jun 2035 GOLD_ISDA 1%                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | SA        |    19900000 | OU      | $115638.44    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Playboy Inc                                               | Playboy Inc                                                                      | CUSIP: 72814P109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -19664 | NS      | $-31855.68    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bunge Global SA                                           | Bunge Global SA                                                                  | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Short            | EC               | CORP              | CH        |       -1300 | NS      | $-104364.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs International                               | Buy TURKEY SNRFOR USD 100 Jun 2027 GOLD_ISDA 1%                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | TR        |     2000000 | OU      | $31763.06     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| United Airlines Holdings Inc                              | United Airlines Holdings Inc                                                     | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Short            | EC               | CORP              | US        |       -8800 | NS      | $-700744.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Orrstown Financial Services Inc                           | Orrstown Financial Services Inc                                                  | CUSIP: 687380105<br>LEI: 5493008IR3FINUFGVM95 | Long             | EC               | CORP              | US        |         587 | NS      | $18684.21     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| China Yuchai International Ltd                            | China Yuchai International Ltd                                                   | CUSIP: 000000000<br>LEI: 529900DHISUGAY2ARU76 | Long             | EC               | CORP              | BM        |         100 | NS      | $2391.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cerus Corp                                                | Cerus Corp                                                                       | CUSIP: 157085101<br>LEI: 254900BIEY9XIDA04Q21 | Long             | EC               | CORP              | US        |        9200 | NS      | $12972.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Saudi Government International Bonds                      | Saudi Government International Bond                                              | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Short            | DBT              | NUSS              | SA        |    -6650000 | PA      | $-6893111.15  | -0.18%            | 2031-01-13      | Fixed         | 5.38%                 | Yes           | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS SEP 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -28 | NC      | $58959.29     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Rocket Pharmaceuticals Inc                                | Rocket Pharmaceuticals Inc                                                       | CUSIP: 77313F106<br>LEI: 549300R7VV82YUIN4Y93 | Long             | EC               | CORP              | US        |       19600 | NS      | $48020.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS APR 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -28 | NC      | $8620.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cognition Therapeutics Inc                                | Cognition Therapeutics Inc                                                       | CUSIP: 19243B102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3400 | NS      | $-1053.31     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Rayonier Advanced Materials Inc                           | Rayonier Advanced Materials Inc                                                  | CUSIP: 75508B104<br>LEI: 54930053QJ7OUGZG4F72 | Long             | EC               | CORP              | US        |        7000 | NS      | $26950.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| T-Mobile US Inc                                           | T-Mobile US Inc                                                                  | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       22800 | NS      | $5432328.00   | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT JUN27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $6675.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Diversified Energy Co PLC                                 | Diversified Energy Co PLC                                                        | CUSIP: 000000000<br>LEI: 213800YR9TFRVHPGOS67 | Long             | EC               | CORP              | GB        |         100 | NS      | $1467.00      | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD INR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $613.00       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Medifast Inc                                              | Medifast Inc                                                                     | CUSIP: 58470H101<br>LEI: 5299000YHQJ21T5KKI80 | Long             | EC               | CORP              | US        |        2600 | NS      | $36530.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MSP Recovery Inc                                          | MSP Recovery Inc                                                                 | CUSIP: 553745308<br>LEI: 5299008GFVIJPGGFFV27 | Short            | EC               | CORP              | US        |          -4 | NS      | $-5.56        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust               | MF1 2022-FL9 LLC                                                                 | CUSIP: 55285AAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1213000 | PA      | $1213992.23   | 0.03%             | 2037-06-19      | Floating      | 7.47%                 | No            | 2                  | On Loan: No      |
| O-I Glass Inc                                             | O-I Glass Inc                                                                    | CUSIP: 67098H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2900 | NS      | $42746.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Installed Building Products Inc                           | Installed Building Products Inc                                                  | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |         200 | NS      | $36064.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Churchill Direct Lending Corp                      | Nuveen Churchill Direct Lending Corp                                             | CUSIP: 67090S108<br>LEI: 254900X3ULEP6XX7HG39 | Long             | EC               | CORP              | US        |        3100 | NS      | $50189.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.9702% 04/10/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      300000 | OU      | $-7464.27     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      717492 | PA      | $717491.53    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Woodside Energy Group Ltd                                 | Woodside Energy Group Ltd                                                        | CUSIP: 980228308<br>LEI: 2549005ZC5RXAOO7FH41 | Short            | EC               | CORP              | AU        |       -1500 | NS      | $-23145.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT DEC 26                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         133 | NC      | $17618.62     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ingersoll Rand Inc                                        | Ingersoll Rand Inc                                                               | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Short            | EC               | CORP              | US        |       -1081 | NS      | $-89917.58    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Artivion Inc                                              | Artivion Inc                                                                     | CUSIP: 228903100<br>LEI: 549300YTKV8DMSMG6K81 | Long             | EC               | CORP              | US        |         100 | NS      | $3110.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sysco Corp                                                | Sysco Corp                                                                       | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Short            | EC               | CORP              | US        |      -56500 | NS      | $-4279310.00  | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| Valens Semiconductor Ltd                                  | Valens Semiconductor Ltd                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |        1700 | NS      | $4471.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| VICI Properties Inc                                       | VICI Properties Inc                                                              | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Short            | EC               |  | US        |      -85029 | NS      | $-2771945.40  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-20CB                                                 | CUSIP: 02147MAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      703318 | PA      | $193989.80    | 0.01%             | 2036-07-25      | Floating      | 4.77%                 | No            | 2                  | On Loan: No      |
| Carlyle Global Market Strategies                          | CARLYLE US CLO 2019-1 LTD                                                        | CUSIP: 14316BAU9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1504261.50   | 0.04%             | 2031-04-20      | Floating      | 7.88%                 | No            | 2                  | On Loan: No      |
| Mobileye Global Inc                                       | Mobileye Global Inc                                                              | CUSIP: 60741F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       23500 | NS      | $422530.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Travelers Cos Inc/The                                     | Travelers Cos Inc/The                                                            | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |         330 | NS      | $88288.20     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ESC NII HLDGS INC BE                                      | ESC NII HLDGS INC BE                                                             | CUSIP: 629ESC013<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       50677 | NS      | $13176.02     | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Benefit Street Partners CLO Ltd                           | Benefit Street Partners CLO XX Ltd                                               | CUSIP: 08182KAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $996179.00    | 0.03%             | 2034-07-15      | Floating      | 11.27%                | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | SELLCDSCDX.EM.43-V1_100BPS_20300620_ICE1.0%                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    10000000 | OU      | $-245469.44   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Ajax Mortgage Loan Trust                                  | Ajax Mortgage Loan Trust 2021-E                                                  | CUSIP: 009740AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      762000 | PA      | $477497.39    | 0.01%             | 2060-12-25      | Variable      | 4.01%                 | No            | 2                  | On Loan: No      |
| Entrada Therapeutics Inc                                  | Entrada Therapeutics Inc                                                         | CUSIP: 29384C108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -700 | NS      | $-4704.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | LOGISTEA AB-B CFD                                                                | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | SE        |     1834182 | OU      | $6195.57      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Deckers Outdoor Corp                                      | Deckers Outdoor Corp                                                             | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |        5000 | NS      | $515350.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Welltower Inc                                             | Welltower Inc                                                                    | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Short            | EC               |  | US        |      -16100 | NS      | $-2475053.00  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Cantaloupe Inc                                            | Cantaloupe Inc                                                                   | CUSIP: 138103106<br>LEI: 529900O54DBQQVWO9Q85 | Short            | EC               | CORP              | US        |        -900 | NS      | $-9891.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 DEC 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $25440.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                   | WaMu Mortgage Pass-Through Certificates Series 2005-AR17 Trust                   | CUSIP: 92922F7X0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      455384 | PA      | $358965.65    | 0.01%             | 2045-12-25      | Floating      | 5.23%                 | No            | 2                  | On Loan: No      |
| Kraft Heinz Co/The                                        | Kraft Heinz Co/The                                                               | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |         154 | NS      | $3976.28      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Planet Fitness Inc                                        | Planet Fitness Inc                                                               | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Short            | EC               | CORP              | US        |       -7990 | NS      | $-871309.50   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Quest Resource Holding Corp                               | Quest Resource Holding Corp                                                      | CUSIP: 74836W203<br>LEI: 54930088J62L2GTB0F58 | Short            | EC               | CORP              | US        |        -300 | NS      | $-606.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2015-CCRE27 Mortgage Trust                                                  | CUSIP: 12635QAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1439000 | PA      | $1217481.78   | 0.03%             | 2048-10-10      | Fixed         | 3.25%                 | No            | 2                  | On Loan: No      |
| Heritage Insurance Holdings Inc                           | Heritage Insurance Holdings Inc                                                  | CUSIP: 42727J102<br>LEI: 9845008CCYDD87F66B45 | Long             | EC               | CORP              | US        |        3700 | NS      | $92278.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Encompass Health Corp                                     | Encompass Health Corp                                                            | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |         700 | NS      | $85841.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.276% 12/17/2026 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -700000 | OU      | $-588.89      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Enact Holdings Inc                                        | Enact Holdings Inc                                                               | CUSIP: 29249E109<br>LEI: 9845003CA5664B741N19 | Long             | EC               | CORP              | US        |         500 | NS      | $18575.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| DIG MIDCO/DIFL US II LLC                                  | Digicel Midco Ltd / Difl US II LLC                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LC        |     4963708 | PA      | $4914068.39   | 0.13%             | 2028-11-25      | Fixed         | 10.50%                | No            | 2                  | On Loan: No      |
| CarParts.com Inc                                          | CarParts.com Inc                                                                 | CUSIP: 14427M107<br>LEI: 5493005FSRX4Y7E7H678 | Long             | EC               | CORP              | US        |        5300 | NS      | $3922.53      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.81296% 03/06/2040 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -200000 | OU      | $-1837.57     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| FIGRE Trust                                               | FIGRE Trust 2024-HE4                                                             | CUSIP: 31684UAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      251000 | PA      | $254486.89    | 0.01%             | 2054-09-25      | Variable      | 8.48%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT TWD/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | TW        |           1 | NC      | $22486.13     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Dave Inc                                                  | Dave Inc                                                                         | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2800 | NS      | $751548.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Legacy Housing Corp                                       | Legacy Housing Corp                                                              | CUSIP: 52472M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $11330.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Alarum Technologies Ltd                                   | Alarum Technologies Ltd                                                          | CUSIP: 78643B500<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |         400 | NS      | $5412.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT SEP 25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |         -97 | NC      | $5156.25      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Essa Pharma Inc                                           | Essa Pharma Inc                                                                  | CUSIP: 29668H708<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |        4100 | NS      | $6970.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BXP Inc                                                   | BXP Inc                                                                          | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Short            | EC               |  | US        |       -7200 | NS      | $-485784.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| CSX Corp                                                  | CSX Corp                                                                         | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Short            | EC               | CORP              | US        |      -11600 | NS      | $-378508.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 50C                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        -225 | NC      | $-19800.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-OA19                                                 | CUSIP: 12668RAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      502899 | PA      | $397001.92    | 0.01%             | 2047-02-20      | Floating      | 4.61%                 | No            | 2                  | On Loan: No      |
| STATE OF ISRAEL                                           | Israel Government International Bond                                             | CUSIP: 46514Y8B6<br>LEI: 213800T8ZHTFZIBYPE21 | Short            | DBT              | NUSS              | IL        |    -7205000 | PA      | $-7322063.10  | -0.20%            | 2035-02-19      | Fixed         | 5.63%                 | No            | 2                  | On Loan: No      |
| Acrivon Therapeutics Inc                                  | Acrivon Therapeutics Inc                                                         | CUSIP: 004890109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $357.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Frontier Communications Parent Inc                        | Frontier Communications Parent Inc                                               | CUSIP: 35909D109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -60100 | NS      | $-2187640.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Landbridge Co LLC                                         | Landbridge Co LLC                                                                | CUSIP: 514952100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       18357 | NS      | $1240566.06   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| FTAI Aviation Ltd                                         | FTAI Aviation Ltd                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |       14000 | NS      | $1610560.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-USDCNH(USD) 10/08/25 7.35C                                                    | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DFE              |  | US        |    20000000 | OU      | $25236.00     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Blink Charging Co                                         | Blink Charging Co                                                                | CUSIP: 09354A100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -12300 | NS      | $-11560.78    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Daimler Truck Holding AG                                  | Daimler Truck Holding AG                                                         | CUSIP: 000000000<br>LEI: 529900PW78JIYOUBSR24 | Short            | EC               | CORP              | DE        |        -445 | NS      | $-21112.56    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                | Bear Stearns Asset Backed Securities I Trust 2007-AC5                            | CUSIP: 07388BAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2514755 | PA      | $554304.87    | 0.01%             | 2037-07-25      | Floating      | 4.88%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS JAN 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -286 | NC      | $307500.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Aurinia Pharmaceuticals Inc                               | Aurinia Pharmaceuticals Inc                                                      | CUSIP: 05156V102<br>LEI: 5299008YP2BW4570ML28 | Long             | EC               | CORP              | CA        |        1300 | NS      | $11011.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Equifax Inc                                               | Equifax Inc                                                                      | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Short            | EC               | CORP              | US        |        -616 | NS      | $-159771.92   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Red Violet Inc                                            | Red Violet Inc                                                                   | CUSIP: 75704L104<br>LEI: 549300T4EGADG881UU63 | Long             | EC               | CORP              | US        |         200 | NS      | $9840.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Buy CCB SNRFOR USD 100 Dec 2027 BARC_ISDA 1%                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | LU        |    11400000 | OU      | $-191067.04   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Smurfit WestRock PLC                                      | Smurfit WestRock PLC                                                             | CUSIP: 000000000<br>LEI: 635400EGSEOPDW2EXS14 | Short            | EC               | CORP              | IE        |      -56000 | NS      | $-2416400.00  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Buy MEXICO SNRFOR USD 100 Jun 2030 MORG_ISDA 1%                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              |  | MX        |     6900000 | OU      | $21041.75     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Tutor Perini Corp                                         | Tutor Perini Corp                                                                | CUSIP: 901109108<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | EC               | CORP              | US        |        2600 | NS      | $121628.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Assure Holdings Corp                                      | Assure Holdings Corp                                                             | CUSIP: 04625J303<br>LEI: 5493003ATO3H7ZMQGL06 | Long             | EC               | CORP              | US        |           0 | NS      | $79.56        | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Oppenheimer Holdings Inc                                  | Oppenheimer Holdings Inc                                                         | CUSIP: 683797104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         600 | NS      | $39462.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.8388% 10/28/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $1512.68      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| London Metal Exchange                                     | LME ALUMINIUM 3MO 09/04/25                                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          36 | NC      | $95787.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Applied Therapeutics Inc                                  | Applied Therapeutics Inc                                                         | CUSIP: 03828A101<br>LEI: 549300KL3IJPHZM2GR04 | Long             | EC               | CORP              | US        |       11983 | NS      | $3727.91      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Republic of Iraq                                          | Iraq International Bond                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |    10601250 | PA      | $10467556.56  | 0.28%             | 2028-01-15      | Fixed         | 5.80%                 | Yes           | 2                  | On Loan: No      |
| KNOT Offshore Partners LP                                 | KNOT Offshore Partners LP                                                        | CUSIP: 000000000<br>LEI: 549300RM8O2QLS7ZQN07 | Long             | EC               | CORP              | MH        |        2800 | NS      | $17528.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      618089 | PA      | $618089.08    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| FIGRE Trust                                               | FIGRE Trust 2025-HE1                                                             | CUSIP: 30191LAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      364000 | PA      | $371759.75    | 0.01%             | 2055-01-25      | Variable      | 8.53%                 | No            | 2                  | On Loan: No      |
| Sasol Ltd                                                 | Sasol Ltd                                                                        | CUSIP: 803866300<br>LEI: 378900F4544561A97588 | Long             | EC               | CORP              | ZA        |       10900 | NS      | $48178.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ASGN Inc                                                  | ASGN Inc                                                                         | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Short            | EC               | CORP              | US        |        -500 | NS      | $-24965.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Savara Inc                                                | Savara Inc                                                                       | CUSIP: 805111101<br>LEI: 5493002JO0WM3YMJXG33 | Long             | EC               | CORP              | US        |        3300 | NS      | $7524.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Sabra Health Care REIT Inc                                | Sabra Health Care REIT Inc                                                       | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Short            | EC               |  | US        |       -5659 | NS      | $-104351.96   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Engineered Machinery Holdings Inc                         | Engineered Machinery Holdings Inc 2021 USD 2nd Lien Term Loan                    | CUSIP: 26658NAQ2<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |     9045028 | PA      | $9056334.55   | 0.24%             | 2029-05-21      | Floating      | 10.56%                | No            | 3                  | On Loan: No      |
| Teck Resources Ltd                                        | Teck Resources Ltd                                                               | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |         979 | NS      | $39537.41     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Quantasing Group Ltd                                      | Quantasing Group Ltd                                                             | CUSIP: 74767N107<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -1700 | NS      | $-16065.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2004-16CB                                                 | CUSIP: 12667FMJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      282679 | PA      | $248622.36    | 0.01%             | 2034-08-25      | Variable      | 5.77%                 | No            | 2                  | On Loan: No      |
| Jefferson Capital Inc                                     | Jefferson Capital Inc                                                            | CUSIP: 47248R103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       16701 | NS      | $308133.45    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| BBAM US CLO LTD.                                          | BBAM US CLO II Ltd                                                               | CUSIP: 054985AA4<br>LEI: 549300720D6GC86J1I98 | Long             | ABS-CBDO         | CORP              | KY        |     4300000 | PA      | $4311429.40   | 0.11%             | 2038-10-15      | Floating      | 12.41%                | No            | 2                  | On Loan: No      |
| ARES CLO Ltd                                              | ARES Loan Funding II Ltd                                                         | CUSIP: 04019KAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1150000 | PA      | $1151159.20   | 0.03%             | 2036-10-20      | Floating      | 12.51%                | No            | 2                  | On Loan: No      |
| CNX Resources Corp                                        | CNX Resources Corp                                                               | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |        1100 | NS      | $37048.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| eBay Inc                                                  | eBay Inc                                                                         | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Short            | EC               | CORP              | US        |       -3500 | NS      | $-260610.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Merrill Lynch Pierce Fenner & Smith, Inc.                 | Merrill Lynch Pierce Fenner & Smith, Inc.                                        | CUSIP: 000000000<br>LEI: 8NAV47T0Y26Q87Y0QP81 | Long             | RA               | CORP              | US        |     1436750 | PA      | $1436750.00   | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| ING Groep NV                                              | ING Groep NV                                                                     | CUSIP: 456837103<br>LEI: 549300NYKK9MWM7GGW15 | Short            | EC               | CORP              | NL        |      -47100 | NS      | $-1030077.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Central Parent Inc                                        | Central Parent Inc 2024 Term Loan B                                              | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      847686 | PA      | $705783.72    | 0.02%             | 2029-07-06      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| OceanFirst Financial Corp                                 | OceanFirst Financial Corp                                                        | CUSIP: 675234108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -12405 | NS      | $-218452.05   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Extreme Networks Inc                                      | Extreme Networks Inc                                                             | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |        4500 | NS      | $80775.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| QXO Inc                                                   | QXO Inc                                                                          | CUSIP: 82846H405<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -25 | NS      | $-538.50      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.308851% 02/19/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -760000 | OU      | $-6014.95     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | BROWN & BROWN INC CFD                                                            | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |   -17592709 | OU      | $-215008.86   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL GAS 08/01/25 3.25P                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          10 | NC      | $12850.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LyondellBasell Industries NV                              | LyondellBasell Industries NV                                                     | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Short            | EC               | CORP              | NL        |       -3900 | NS      | $-225654.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Spyre Therapeutics Inc                                    | Spyre Therapeutics Inc                                                           | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Short            | EC               | CORP              | US        |        -248 | NS      | $-3712.56     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Murphy USA Inc                                            | Murphy USA Inc                                                                   | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Short            | EC               | CORP              | US        |        -400 | NS      | $-162720.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Quad/Graphics Inc                                         | Quad/Graphics Inc                                                                | CUSIP: 747301109<br>LEI: W2D68G5NJH4X0NW8PT65 | Long             | EC               | CORP              | US        |        2300 | NS      | $12995.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Klaviyo Inc                                               | Klaviyo Inc                                                                      | CUSIP: 49845K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       19500 | NS      | $654810.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | HON HAI PRECISION INDUSTRY CFD USD                                               | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | TW        |     -214824 | OU      | $-11387.20    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Brand Industrial Services Inc                             | Brand Industrial Services Inc 2024 Term Loan B                                   | CUSIP: 10524MAS6<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |      640750 | PA      | $533744.47    | 0.01%             | 2030-08-01      | Floating      | 8.78%                 | No            | N/A                | On Loan: No      |
| SPDR S&P Insurance ETF                                    | SPDR S&P Insurance ETF                                                           | CUSIP: 78464A789<br>LEI: 5493000JPXJASDQETJ56 | Long             | EC               | RF                | US        |         125 | NS      | $7467.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tilly's Inc                                               | Tilly's Inc                                                                      | CUSIP: 886885102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         400 | NS      | $552.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UTime Ltd                                                 | UTime Ltd                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -588 | NS      | $-564.48      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| KinderCare Learning Cos Inc                               | KinderCare Learning Cos Inc                                                      | CUSIP: 49456W105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -300 | NS      | $-3030.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Pikes Peak CLO                                            | Pikes Peak CLO 14 2023 Ltd                                                       | CUSIP: 72134DAE9<br>LEI: 213800AO7LGLGDRRY278 | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $996221.00    | 0.03%             | 2038-07-20      | Floating      | 10.32%                | No            | N/A                | On Loan: No      |
| Datasea Inc                                               | Datasea Inc                                                                      | CUSIP: 238116305<br>LEI: 549300P9H0IKFTYMF560 | Short            | EC               | CORP              | US        |         -33 | NS      | $-64.35       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS HH PENULT FIN DEC 26                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          -3 | NC      | $-22440.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Synchronoss Technologies Inc                              | Synchronoss Technologies Inc                                                     | CUSIP: 87157B400<br>LEI: 5493007Z5J8Z2TA76376 | Long             | EC               | CORP              | US        |         700 | NS      | $4795.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2005-11CB                                                 | CUSIP: 12667GJS3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      270452 | PA      | $198705.81    | 0.01%             | 2035-06-25      | Floating      | 4.93%                 | No            | 2                  | On Loan: No      |
| Bank of Nova Scotia/The                                   | Bank of Nova Scotia/The                                                          | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Short            | EC               | CORP              | CA        |      -10800 | NS      | $-596916.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| O'Reilly Automotive Inc                                   | O'Reilly Automotive Inc                                                          | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Short            | EC               | CORP              | US        |      -18000 | NS      | $-1622340.00  | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| DIG HLDNG/DIG FIN/DIFL                                    | Digicel Intermediate Holdings Ltd / Digicel International Finance Ltd / Difl US  | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | DBT              | CORP              | XX        |     2170439 | PA      | $2189430.34   | 0.06%             | 2027-05-25      | Fixed         | 12.00%                | No            | 2                  | On Loan: No      |
| Iterum Therapeutics plc                                   | Iterum Therapeutics plc                                                          | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | IE        |       -1313 | NS      | $-1306.46     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| XPEL Inc                                                  | XPEL Inc                                                                         | CUSIP: 98379L100<br>LEI: 549300KWSE3IGXLJNW66 | Short            | EC               | CORP              | US        |       -1500 | NS      | $-53850.00    | -0.00%            |  |  |  | Yes           | 1                  | On Loan: No      |
| Citibank NA                                               | SOLD GBP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-21053.16    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Bank of America NA                                        | NVIDIA CORP OTC 01/16/26 115C                                                    | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |          10 | NC      | $50313.30     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| SNDL Inc                                                  | SNDL Inc                                                                         | CUSIP: 83307B101<br>LEI: 984500EBVC4BEACF6F53 | Short            | EC               | CORP              | CA        |      -28340 | NS      | $-34291.40    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Shell PLC                                                 | Shell PLC                                                                        | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |       71946 | NS      | $2523627.63   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| BX Trust                                                  | BX Commercial Mortgage Trust 2022-AHP                                            | CUSIP: 05610FAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      227000 | PA      | $225305.21    | 0.01%             | 2039-01-17      | Floating      | 7.35%                 | No            | 2                  | On Loan: No      |
| Oscar Acquisitionco LLC                                   | Oscar AcquisitionCo LLC Term Loan B                                              | CUSIP: 68778DAB4<br>LEI: 254900RDCZK0Q19MEL65 | Long             | LON              | CORP              | US        |     1522573 | PA      | $1398543.78   | 0.04%             | 2029-04-29      | Floating      | 8.55%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD THB/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-1250.83     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Xometry Inc                                               | Xometry Inc                                                                      | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Short            | EC               | CORP              | US        |       -3000 | NS      | $-101370.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bahrain Government International Bonds                    | Bahrain Government International Bonds                                           | CUSIP: 000000000<br>LEI: 549300RODM1WN85LFQ95 | Short            | DBT              | NUSS              | BH        |    -4035000 | PA      | $-3744537.09  | -0.10%            | 2032-09-16      | Fixed         | 5.45%                 | Yes           | 2                  | On Loan: No      |
| NATURE COAST RE LTD                                       | Nature Coast Re Ltd                                                              | CUSIP: 63901CAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      250000 | PA      | $250775.00    | 0.01%             | 2029-04-10      | Floating      | 14.04%                | No            | 2                  | On Loan: No      |
| Cuppa Bidco BV                                            | Cuppa Bidco BV GBP Term Loan B2                                                  | CUSIP: 000000000<br>LEI: 254900C8AU9XL3CHKB72 | Long             | LON              | CORP              | NL        |     2600970 | PA      | $3116303.74   | 0.08%             | 2029-07-30      | Floating      | 9.84%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.41935% 04/20/2055 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      100000 | OU      | $8090.70      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Bank5                                                     | BANK5 2025-5YR14                                                                 | CUSIP: 06604MAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $97251.00     | 0.00%             | 2058-04-15      | Variable      | 2.50%                 | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.4805% 10/24/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $-10323.53    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.9425% 12/19/2039 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      200000 | OU      | $-1079.02     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| FiscalNote Holdings Inc                                   | FiscalNote Holdings Inc                                                          | CUSIP: 337655104<br>LEI: 213800ES9QGPFJR85C09 | Short            | EC               | CORP              | US        |       -4000 | NS      | $-2145.60     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JAN 26 8C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -50 | NC      | $-91850.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CION Investment Corp                                      | CION Investment Corp                                                             | CUSIP: 17259U204<br>LEI: 549300XN70JLF94XKX80 | Long             | EC               | CORP              | US        |        4000 | NS      | $38280.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                   | Saluda Grade Alternative Mortgage Trust 2024-INV1                                | CUSIP: 795924AE9<br>LEI: 213800ETGZN4SIG56R83 | Long             | ABS-MBS          | CORP              | US        |     1054000 | PA      | $1068226.89   | 0.03%             | 2059-08-25      | Variable      | 7.21%                 | No            | 2                  | On Loan: No      |
| Sapiens International Corp NV                             | Sapiens International Corp NV                                                    | CUSIP: 000000000<br>LEI: 2549009P4ZS02GC5QV68 | Long             | EC               | CORP              | KY        |         500 | NS      | $14625.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Synchrony Financial                                       | Synchrony Financial                                                              | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Short            | EC               | CORP              | US        |       -9700 | NS      | $-647378.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Lifeway Foods Inc                                         | Lifeway Foods Inc                                                                | CUSIP: 531914109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         100 | NS      | $2465.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| United Fire Group Inc                                     | United Fire Group Inc                                                            | CUSIP: 910340108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1400 | NS      | $40180.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PEBBLEBROOK HOTEL/FINANC                                  | Pebblebrook Hotel LP / PEB Finance Corp                                          | CUSIP: 70510LAA7<br>LEI: N/A                  | Long             | DBT              |  | US        |      270000 | PA      | $271450.71    | 0.01%             | 2029-10-15      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| Global Mofy AI Ltd                                        | Global Mofy AI Ltd                                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |        -100 | NS      | $-258.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | VENTURE GLOBAL INC-CL A CFD                                                      | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     -232370 | OU      | $13487.04     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| MeiraGTx Holdings plc                                     | MeiraGTx Holdings plc                                                            | CUSIP: 000000000<br>LEI: 54930007YV6NYIOGFZ57 | Short            | EC               | CORP              | KY        |       -3600 | NS      | $-23472.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy iTraxx Asia ex-Japan IG Series 43 USD 100 Jun                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    10800000 | OU      | $-124359.35   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Acushnet Holdings Corp                                    | Acushnet Holdings Corp                                                           | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |         600 | NS      | $43692.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | MSHVHEAT                                                                         | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | US        |   -57712343 | OU      | $-1600134.90  | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| TotalEnergies SE                                          | TotalEnergies SE                                                                 | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Short            | EC               | CORP              | FR        |       -6938 | NS      | $-424068.87   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Benefit Street Partners CLO Ltd                           | Benefit Street Partners CLO X Ltd                                                | CUSIP: 08181LBC0<br>LEI: 549300MYLNCW81S1Y182 | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $1997476.00   | 0.05%             | 2034-04-20      | Floating      | 8.03%                 | No            | 2                  | On Loan: No      |
| McGrath RentCorp                                          | McGrath RentCorp                                                                 | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |         700 | NS      | $81172.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Cartesian Therapeutics Inc                                | Cartesian Therapeutics Inc                                                       | CUSIP: 816212302<br>LEI: 529900NMN0LACZOL7C43 | Short            | EC               | CORP              | US        |         -60 | NS      | $-623.40      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NextNav Inc                                               | NextNav Inc                                                                      | CUSIP: 65345N106<br>LEI: 549300X9CM76JRB02P70 | Short            | EC               | CORP              | US        |       -1900 | NS      | $-28880.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ryanair Holdings PLC                                      | Ryanair Holdings PLC                                                             | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |         550 | NS      | $31718.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FuelCell Energy Inc                                       | FuelCell Energy Inc                                                              | CUSIP: 35952H700<br>LEI: 549300SRU8020X1X9J22 | Long             | EC               | CORP              | US        |          21 | NS      | $117.81       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Red Cat Holdings Inc                                      | Red Cat Holdings Inc                                                             | CUSIP: 75644T100<br>LEI: 5493005OGSQW28V2PY05 | Short            | EC               | CORP              | US        |      -21400 | NS      | $-155792.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fanniemae Strip                                           | Fannie Mae Interest Strip                                                        | CUSIP: 3136FLFH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    11180339 | PA      | $1767175.59   | 0.05%             | 2042-04-25      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Enova International Inc                                   | Enova International Inc                                                          | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Short            | EC               | CORP              | US        |      -90713 | NS      | $-10116313.76 | -0.27%            |  |  |  | No            | 1                  | On Loan: No      |
| Utz Brands Inc                                            | Utz Brands Inc                                                                   | CUSIP: 918090101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1200 | NS      | $15060.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ASP Isotopes Inc                                          | ASP Isotopes Inc                                                                 | CUSIP: 00218A105<br>LEI: 6488WHV94BZ496OZ3219 | Short            | EC               | CORP              | US        |        -100 | NS      | $-736.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Amicus Therapeutics Inc                                   | Amicus Therapeutics Inc                                                          | CUSIP: 03152W109<br>LEI: 549300MRD1SMUTNBPQ53 | Long             | EC               | CORP              | US        |       12600 | NS      | $72198.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Perimeter Solutions Inc                                   | Perimeter Solutions Inc                                                          | CUSIP: 71385M107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -800 | NS      | $-11136.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Allurion Technologies Inc                                 | Allurion Technologies Inc                                                        | CUSIP: 02008G201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          49 | NS      | $119.07       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Youdao Inc                                                | Youdao Inc                                                                       | CUSIP: 98741T104<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -2300 | NS      | $-19780.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Algonquin Power & Utilities Corp                          | Algonquin Power & Utilities Corp                                                 | CUSIP: 015857105<br>LEI: 549300K5VIUTJXQL7X75 | Short            | EC               | CORP              | CA        |      -27000 | NS      | $-154710.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Somnigroup International Inc                              | Somnigroup International Inc                                                     | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Short            | EC               | CORP              | US        |      -50500 | NS      | $-3436525.00  | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| Mid Penn Bancorp Inc                                      | Mid Penn Bancorp Inc                                                             | CUSIP: 59540G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         200 | NS      | $5640.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Saxon Asset Securities Trust                              | Saxon Asset Securities Trust 2004-2                                              | CUSIP: 805564QD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      363971 | PA      | $269489.82    | 0.01%             | 2035-08-25      | Variable      | 2.12%                 | No            | 2                  | On Loan: No      |
| BENCHMARK Mortgage Trust                                  | Benchmark 2023-V3 Mortgage Trust                                                 | CUSIP: 08163VAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $89335.00     | 0.00%             | 2056-07-15      | Variable      | 3.41%                 | No            | 2                  | On Loan: No      |
| Merck & Co Inc                                            | Merck & Co Inc                                                                   | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |       78165 | NS      | $6187541.40   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Sixth Street Specialty Lending Inc                        | Sixth Street Specialty Lending Inc                                               | CUSIP: 83012A109<br>LEI: 549300TX61566GJWCN05 | Long             | EC               | CORP              | US        |        2600 | NS      | $61906.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PACS Group Inc                                            | PACS Group Inc                                                                   | CUSIP: 69380Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4800 | NS      | $62016.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ProFrac Holding Corp                                      | ProFrac Holding Corp                                                             | CUSIP: 74319N100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -3600 | NS      | $-27936.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Equinix Inc                                               | Equinix Inc                                                                      | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |         776 | NS      | $617284.72    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Codexis Inc                                               | Codexis Inc                                                                      | CUSIP: 192005106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        2600 | NS      | $6344.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Avinger Inc                                               | Avinger Inc                                                                      | CUSIP: 053734877<br>LEI: 549300MRCUER3C2G1659 | Short            | EC               | CORP              | US        |        -266 | NS      | $-126.08      | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Buy CDX.EM.43 USD 100 Jun 2030 Morgan 1%                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    13900000 | OU      | $341202.54    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| AirJoule Technologies Corp                                | AirJoule Technologies Corp                                                       | CUSIP: 612160101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-463.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AREIT CRE Trust                                           | AREIT 2022-CRE7 LLC                                                              | CUSIP: 00217VAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     1000000 | PA      | $1000750.00   | 0.03%             | 2039-06-17      | Floating      | 8.16%                 | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT DEC27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          30 | NC      | $50550.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JUN 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $100150.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Momentus Inc                                              | Momentus Inc                                                                     | CUSIP: 60879E309<br>LEI: 5299005U2981F57VGS41 | Short            | EC               | CORP              | US        |        -898 | NS      | $-1095.56     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| PROCEPT BioRobotics Corp                                  | PROCEPT BioRobotics Corp                                                         | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         600 | NS      | $34560.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust             | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP3                    | CUSIP: 46590RAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $84749.00     | 0.00%             | 2049-08-15      | Variable      | 3.56%                 | No            | 2                  | On Loan: No      |
| Conduent Inc                                              | Conduent Inc                                                                     | CUSIP: 206787103<br>LEI: 549300SFJ2D2CYY6CQ11 | Short            | EC               | CORP              | US        |       -2100 | NS      | $-5544.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CHF CURRENCY FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |         -11 | NC      | $-36762.50    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| I3 Verticals Inc                                          | I3 Verticals Inc                                                                 | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Short            | EC               | CORP              | US        |        -400 | NS      | $-10992.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc                       | Sumitomo Mitsui Financial Group Inc                                              | CUSIP: 86562M209<br>LEI: 35380028MYWPB6AUO129 | Short            | EC               | CORP              | JP        |      -27100 | NS      | $-409481.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Global ex-U.S. Real Estate ETF                   | Vanguard Global ex-U.S. Real Estate ETF                                          | CUSIP: 922042676<br>LEI: 9REVU8EQQSK7LWENPV85 | Long             | EC               | RF                | US        |      130800 | NS      | $6036420.00   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Skeena Resources Ltd                                      | Skeena Resources Ltd                                                             | CUSIP: 83056P715<br>LEI: 549300DCWSQFVVZ21289 | Short            | EC               | CORP              | CA        |       -1600 | NS      | $-25472.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Live Nation Entertainment Inc                             | Live Nation Entertainment Inc                                                    | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Short            | EC               | CORP              | US        |       -2203 | NS      | $-333269.84   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Tesla Inc                                                 | Tesla Inc                                                                        | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Short            | EC               | CORP              | US        |        -458 | NS      | $-145488.28   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     3400103 | PA      | $3400102.55   | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| Allianz SE                                                | Allianz SE                                                                       | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Short            | EC               | CORP              | DE        |         -28 | NS      | $-11363.33    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Jiade Ltd                                                 | Jiade Ltd                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |           1 | NS      | $2.60         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.6453% 04/03/2030 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -500000 | OU      | $4047.76      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Capital Southwest Corp                                    | Capital Southwest Corp                                                           | CUSIP: 140501107<br>LEI: 54930023YZ4YEJEDBO56 | Long             | EC               | CORP              | US        |       11400 | NS      | $251256.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Ring Energy Inc                                           | Ring Energy Inc                                                                  | CUSIP: 76680V108<br>LEI: 549300HMY6TJ265I8S64 | Short            | EC               | CORP              | US        |        -200 | NS      | $-158.80      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| VF Corp                                                   | VF Corp                                                                          | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |        1300 | NS      | $15275.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT JAN 26 4.5C                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $214100.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                                                 | CUSIP: 063671101<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Short            | EC               | CORP              | CA        |       -1300 | NS      | $-143819.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| 89bio Inc                                                 | 89bio Inc                                                                        | CUSIP: 282559103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        1000 | NS      | $9820.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Expand Energy Corp                                        | Expand Energy Corp                                                               | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |       18157 | NS      | $2123279.58   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| American Axle & Manufacturing Holdings Inc                | American Axle & Manufacturing Holdings Inc                                       | CUSIP: 024061103<br>LEI: 254900SMQY98VFKNCC32 | Long             | EC               | CORP              | US        |         300 | NS      | $1224.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ubiquiti Inc                                              | Ubiquiti Inc                                                                     | CUSIP: 90353W103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -600 | NS      | $-246990.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Helix Energy Solutions Group Inc                          | Helix Energy Solutions Group Inc                                                 | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Short            | EC               | CORP              | US        |        -200 | NS      | $-1248.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ajax Mortgage Loan Trust                                  | Ajax Mortgage Loan Trust 2021-E                                                  | CUSIP: 009740AD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      972000 | PA      | $639506.02    | 0.02%             | 2060-12-25      | Variable      | 3.73%                 | No            | 2                  | On Loan: No      |
| GlucoTrack Inc                                            | GlucoTrack Inc                                                                   | CUSIP: 45824Q804<br>LEI: 549300FJ98RZ4G4ULL57 | Short            | EC               | CORP              | US        |        -100 | NS      | $-600.00      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.911% 08/28/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |     -300000 | OU      | $3.89         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Forward Air Corp                                          | Forward Air Corp                                                                 | CUSIP: 34986A104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2000 | NS      | $-49080.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| S&P Global Inc                                            | S&P Global Inc                                                                   | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |          12 | NS      | $6327.48      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Frontier Group Holdings Inc                               | Frontier Group Holdings Inc                                                      | CUSIP: 35909R108<br>LEI: 549300DT3Y2BHO6G7T02 | Long             | EC               | CORP              | US        |        2500 | NS      | $9075.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gates Industrial Corp PLC                                 | Gates Industrial Corp PLC                                                        | CUSIP: 000000000<br>LEI: 549300S6K4FWUSB9KM27 | Short            | EC               | CORP              | GB        |        -800 | NS      | $-18424.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Pfizer Inc                                                | Pfizer Inc                                                                       | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Short            | EC               | CORP              | US        |      -35840 | NS      | $-868761.60   | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Rivian Automotive Inc                                     | Rivian Automotive Inc                                                            | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Short            | EC               | CORP              | US        |       -1230 | NS      | $-16900.20    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Galaxy CLO Ltd                                            | Galaxy 31 Clo Ltd                                                                | CUSIP: 36320KAG7<br>LEI: 549300XTB6S9P2VMDV60 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $995902.00    | 0.03%             | 2038-07-15      | Floating      | 9.81%                 | No            | 2                  | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                   | WaMu Mortgage Pass-Through Certificates Series 2005-AR1 Trust                    | CUSIP: 939336Y23<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      225773 | PA      | $200637.84    | 0.01%             | 2045-01-25      | Floating      | 5.26%                 | No            | 2                  | On Loan: No      |
| C4 Therapeutics Inc                                       | C4 Therapeutics Inc                                                              | CUSIP: 12529R107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       14900 | NS      | $21307.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| West Pharmaceutical Services Inc                          | West Pharmaceutical Services Inc                                                 | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |        5000 | NS      | $1094000.00   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Varex Imaging Corp                                        | Varex Imaging Corp                                                               | CUSIP: 92214X106<br>LEI: 549300CWYWPVCT8E9W67 | Long             | EC               | CORP              | US        |        3200 | NS      | $27744.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| POSCO Holdings Inc                                        | POSCO Holdings Inc                                                               | CUSIP: 693483109<br>LEI: 988400E5HRVX81AYLM04 | Short            | EC               | CORP              | KR        |        -200 | NS      | $-9698.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Prime Medicine Inc                                        | Prime Medicine Inc                                                               | CUSIP: 74168J101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-988.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Lithia Motors Inc                                         | Lithia Motors Inc                                                                | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Short            | EC               | CORP              | US        |        -100 | NS      | $-33782.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| BP PLC                                                    | BP PLC                                                                           | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Short            | EC               | CORP              | GB        |      -48100 | NS      | $-1439633.00  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25                                                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |        5039 | NC      | $-18242906.88 | -0.49%            |  |  |  | No            | 1                  | On Loan: No      |
| PTC Therapeutics Inc                                      | PTC Therapeutics Inc                                                             | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |        2500 | NS      | $122100.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.332381% 02/22/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -700000 | OU      | $-4675.18     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| VTEX                                                      | VTEX                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |         700 | NS      | $4620.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morningstar Inc                                           | Morningstar Inc                                                                  | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |         600 | NS      | $188358.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley Capital Services LLC                       | OJI HOLDINGS CORP CFD                                                            | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DE               |  | JP        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Balboa Bay Loan Funding Ltd                               | Balboa Bay Loan Funding 2021-1 Ltd                                               | CUSIP: 05765YAA7<br>LEI: 549300G0EX8VHFWPJW18 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $980521.00    | 0.03%             | 2034-07-20      | Floating      | 10.69%                | No            | 2                  | On Loan: No      |
| Apollo Commercial Real Estate Finance, Inc.               | Apollo Commercial Real Estate Finance, Inc 2025 Term Loan B                      | CUSIP: 000000000<br>LEI: 549300E0AN7M2AQHSY29 | Long             | LON              | CORP              | US        |     1000000 | PA      | $1001250.00   | 0.03%             | 2030-06-13      | None          | 0.00%                 | No            | N/A                | On Loan: No      |
| Uranium Royalty Corp                                      | Uranium Royalty Corp                                                             | CUSIP: 91702V101<br>LEI: 5493005KEPCD7QSX6305 | Short            | EC               | CORP              | CA        |      -41000 | NS      | $-102500.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Churchill Downs Inc                                       | Churchill Downs Inc                                                              | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Short            | EC               | CORP              | US        |        -200 | NS      | $-20200.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | Variance Swap - SX5E (21.2% - 2025-09-19)                                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | XX        |        1404 | OU      | $-217552.39   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Smith & Nephew PLC                                        | Smith & Nephew PLC                                                               | CUSIP: 83175M205<br>LEI: 213800ZTMDN8S67S1H61 | Short            | EC               | CORP              | GB        |      -14800 | NS      | $-453324.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Akero Therapeutics Inc                                    | Akero Therapeutics Inc                                                           | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Short            | EC               | CORP              | US        |        -300 | NS      | $-16008.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Mesa Air Group Inc                                        | Mesa Air Group Inc                                                               | CUSIP: 590479135<br>LEI: 549300EY743RMV1F7P98 | Short            | EC               | CORP              | US        |        -300 | NS      | $-279.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Commodities Exchange Center                               | SILVER (5000) SEP 25                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          40 | NC      | $-86952.93    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Praxis Precision Medicines Inc                            | Praxis Precision Medicines Inc                                                   | CUSIP: 74006W207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -260 | NS      | $-10933.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | DT MIDSTREAM INC CFD                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     1694579 | OU      | $59694.14     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Capricor Therapeutics Inc                                 | Capricor Therapeutics Inc                                                        | CUSIP: 14070B309<br>LEI: 5493002ZI5PDLXV4DX14 | Long             | EC               | CORP              | US        |        1300 | NS      | $12909.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Greenidge Generation Holdings Inc                         | Greenidge Generation Holdings Inc                                                | CUSIP: 39531G308<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -2730 | NS      | $-3521.70     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Brock Holdings III Inc                                    | Brock Holdings III Inc 2024 Term Loan B                                          | CUSIP: 11163AAB3<br>LEI: 5493000L6QAVHKOAM302 | Long             | LON              | CORP              | US        |      350127 | PA      | $331745.53    | 0.01%             | 2030-05-02      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| CNB Financial Corp/PA                                     | CNB Financial Corp/PA                                                            | CUSIP: 126128107<br>LEI: 254900RUYUOKD91VNX69 | Long             | EC               | CORP              | US        |         700 | NS      | $16002.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT FEB26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         644 | NC      | $1148449.96   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| SW (FINANCE) I PLC                                        | SW Finance I PLC                                                                 | CUSIP: 000000000<br>LEI: 549300BHN1HB5BNG2R96 | Long             | DBT              | CORP              | GB        |     1721000 | PA      | $2102916.72   | 0.06%             | 2027-03-30      | Fixed         | 1.63%                 | Yes           | 2                  | On Loan: No      |
| Eli Lilly & Co                                            | Eli Lilly & Co                                                                   | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |        1224 | NS      | $954144.72    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Myers Industries Inc                                      | Myers Industries Inc                                                             | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |         100 | NS      | $1449.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UMBS, TBA                                                 | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F050676<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   140000000 | PA      | $137238220.00 | 3.65%             | 2054-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| StoneCo Ltd                                               | StoneCo Ltd                                                                      | CUSIP: 000000000<br>LEI: 549300O1A9LEF0XZCR35 | Short            | EC               | CORP              | KY        |      -13300 | NS      | $-213332.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| MERCK KGAA                                                | MERCK KGAA                                                                       | CUSIP: 000000000<br>LEI: 529900OAREIS0MOPTW25 | Short            | EC               | CORP              | DE        |        -329 | NS      | $-42657.59    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-XAGUSD(USD) 12/18/25 37.5C                                                    | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DCO              |  | US        |      210000 | NC      | $448182.25    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Resources Connection Inc                                  | Resources Connection Inc                                                         | CUSIP: 76122Q105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-537.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | GASOLINE RBOB SEP 25                                                             | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -454 | NC      | $581543.26    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Digital Turbine Inc                                       | Digital Turbine Inc                                                              | CUSIP: 25400W102<br>LEI: 549300D0WZR1VI2QGB24 | Long             | EC               | CORP              | US        |       11600 | NS      | $68440.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CCC Intelligent Solutions Holdings Inc                    | CCC Intelligent Solutions Holdings Inc                                           | CUSIP: 12510Q100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -57900 | NS      | $-544839.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Novavax Inc                                               | Novavax Inc                                                                      | CUSIP: 670002401<br>LEI: 529900J4GJHPEPQ23205 | Long             | EC               | CORP              | US        |        4800 | NS      | $30240.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.          | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FNB25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    24677100 | PA      | $1146991.61   | 0.03%             | 2029-06-25      | Variable      | 1.75%                 | No            | 2                  | On Loan: No      |
| Sensata Technologies Holding PLC                          | Sensata Technologies Holding PLC                                                 | CUSIP: 000000000<br>LEI: 529900MS7KFYCY9MS037 | Short            | EC               | CORP              | GB        |        -700 | NS      | $-21077.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2004-2CB                                                  | CUSIP: 12667FAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      301388 | PA      | $249728.00    | 0.01%             | 2034-03-25      | Variable      | 5.95%                 | No            | 2                  | On Loan: No      |
| Saratoga Investment Corp                                  | Saratoga Investment Corp                                                         | CUSIP: 80349A208<br>LEI: 54930023WJCWPAGSWE41 | Long             | EC               | CORP              | US        |        2200 | NS      | $54560.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| THAMES WATER UTIL FIN                                     | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |      495000 | PA      | $446690.13    | 0.01%             | 2042-04-22      | Fixed         | 2.38%                 | Yes           | 2                  | On Loan: No      |
| Check Point Software Technologies Ltd                     | Check Point Software Technologies Ltd                                            | CUSIP: 000000000<br>LEI: 2549003ZVBH73EPNS513 | Short            | EC               | CORP              | IL        |        -244 | NS      | $-53985.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Credit Suisse Mortgage Trust                              | CSMC 2021-NQM8                                                                   | CUSIP: 12659FAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      100000 | PA      | $79203.10     | 0.00%             | 2066-10-25      | Variable      | 4.25%                 | No            | 2                  | On Loan: No      |
| Standex International Corp                                | Standex International Corp                                                       | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Short            | EC               | CORP              | US        |        -200 | NS      | $-31296.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TreeHouse Foods Inc                                       | TreeHouse Foods Inc                                                              | CUSIP: 89469A104<br>LEI: 5493007M7EVHE470Q576 | Long             | EC               | CORP              | US        |         300 | NS      | $5826.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | EURO-SCHATZ FUT   Sep25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -1242 | NC      | $46431.06     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Wix.com Ltd                                               | Wix.com Ltd                                                                      | CUSIP: 000000000<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |        1700 | NS      | $269382.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Mortgage Trust                                  | JP Morgan Mortgage Trust 2023-HE2                                                | CUSIP: 46657FAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     4000000 | PA      | $4047028.00   | 0.11%             | 2054-03-20      | Floating      | 7.55%                 | No            | 2                  | On Loan: No      |
| Emeren Group Ltd                                          | Emeren Group Ltd                                                                 | CUSIP: 75971T301<br>LEI: 529900AE4IM429A3P568 | Short            | EC               | CORP              | VG        |       -5400 | NS      | $-10098.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.74% 03/12/2040 LCH                                                    | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |      200000 | OU      | $734.82       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Amazon.com Inc                                            | Amazon.com Inc                                                                   | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |       67650 | NS      | $14841733.50  | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Board of Trade                                   | COFFEE (37500) DEC 25                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          19 | NC      | $-325602.53   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Palmer Square Loan Funding Ltd                            | Palmer Square Loan Funding 2022-3 Ltd                                            | CUSIP: 69690CAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1504572.00   | 0.04%             | 2031-04-15      | Floating      | 7.26%                 | No            | 2                  | On Loan: No      |
| Align Technology Inc                                      | Align Technology Inc                                                             | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Short            | EC               | CORP              | US        |       -3200 | NS      | $-605856.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 2.884% 09/21/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $4335.82      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS JPY 1.6825% 04/09/2055 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | JP        |   -13300000 | OU      | $-10538.53    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Quantum Computing Inc                                     | Quantum Computing Inc                                                            | CUSIP: 74766W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |          26 | NS      | $498.42       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS JPY 0.6933% 09/29/2027 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | JP        |  1866000000 | OU      | $23119.78     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Cboe Global Markets Inc                                   | Cboe Global Markets Inc                                                          | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Short            | EC               | CORP              | US        |      -40317 | NS      | $-9402327.57  | -0.25%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | S&P 500 EMINI OPTION 09/19/25 5200P                                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |         -52 | NC      | $-55900.00    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Chicago Board of Trade                                    | SOYBEAN MEAL FUTR Jan26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        -951 | NC      | $786100.02    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Evolus Inc                                                | Evolus Inc                                                                       | CUSIP: 30052C107<br>LEI: 549300VYQRYBQOT8V419 | Long             | EC               | CORP              | US        |         800 | NS      | $7368.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.9119% 06/12/2034 LCH                                                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -300000 | OU      | $6268.57      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE FUTR  Dec26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |           3 | NC      | $3740.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT JUL26                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         744 | NC      | $842489.74    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.187% 12/01/2037 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     3000000 | OU      | $222335.37    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| CareTrust REIT Inc                                        | CareTrust REIT Inc                                                               | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               |  | US        |       11700 | NS      | $358020.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | LME COPPER MS 06/03/26 12000C                                                    | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCO              |  | US        |        7179 | NC      | $1430495.78   | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| Sandstorm Gold Ltd                                        | Sandstorm Gold Ltd                                                               | CUSIP: 80013R206<br>LEI: 549300QWJPV45VQF1B33 | Long             | EC               | CORP              | CA        |       54900 | NS      | $516060.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Yatsen Holding Ltd                                        | Yatsen Holding Ltd                                                               | CUSIP: 985194208<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |       -4220 | NS      | $-40680.80    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL FUT SEP 25 100C                                                        | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        -100 | NC      | $-12000.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America NA                                        | SOUSD_SOFR_P_3.265_20540818_20340818_LCH                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     2500000 | NC      | $352347.42    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Nixxy Inc                                                 | Nixxy Inc                                                                        | CUSIP: 75630B402<br>LEI: 5493007WH4V9MK8Y7L08 | Short            | EC               | CORP              | US        |        -300 | NS      | $-627.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                  | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |      665000 | PA      | $628425.00    | 0.02%             | 2028-04-15      | Fixed         | 7.75%                 | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | SOUSD_SOFR_R_3.187_20540823_20340823_LCH                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |     2500000 | NC      | $135749.72    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| CTO Realty Growth Inc                                     | CTO Realty Growth Inc                                                            | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               |  | US        |        1500 | NS      | $25890.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs & Co. LLC                                   | BOUGHT BRL/SOLD USD                                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | BR        |           1 | NC      | $78679.73     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| uniQure NV                                                | uniQure NV                                                                       | CUSIP: 000000000<br>LEI: 724500RPCTZLFYJZ3S98 | Long             | EC               | CORP              | NL        |       11900 | NS      | $165886.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| HalseyPoint CLO II, Ltd.                                  | Halseypoint CLO II Ltd                                                           | CUSIP: 40639HAE7<br>LEI: 549300PIQILNPH8UJT31 | Long             | ABS-CBDO         | CORP              | KY        |     1500000 | PA      | $1502704.50   | 0.04%             | 2037-07-20      | Floating      | 11.77%                | No            | 2                  | On Loan: No      |
| Tilray Brands Inc                                         | Tilray Brands Inc                                                                | CUSIP: 88688T100<br>LEI: 549300Y4V60733TO1478 | Short            | EC               | CORP              | US        |     -178222 | NS      | $-73855.18    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Media Corp-Liberty Live                           | Liberty Media Corp-Liberty Live                                                  | CUSIP: 531229722<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        5586 | NS      | $453359.76    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| RFR Trust                                                 | RFR Trust 2025-SGRM                                                              | CUSIP: 74984NAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1204000 | PA      | $3245.98      | 0.00%             | 2041-03-11      | Variable      | 0.11%                 | No            | 2                  | On Loan: No      |
| MARA Holdings Inc                                         | MARA Holdings Inc                                                                | CUSIP: 565788106<br>LEI: 549300M8ISKPTX2W7F94 | Short            | EC               | CORP              | US        |      -96211 | NS      | $-1508588.48  | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2007-OA2                                                  | CUSIP: 02149LAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      187816 | PA      | $157144.67    | 0.00%             | 2047-03-25      | Floating      | 5.24%                 | No            | 2                  | On Loan: No      |
| BlackLine Inc                                             | BlackLine Inc                                                                    | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Short            | EC               | CORP              | US        |        -700 | NS      | $-39634.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ADANI PORTS AND SPECIAL                                   | Adani Ports & Special Economic Zone Ltd                                          | CUSIP: 000000000<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |     5774000 | PA      | $5560636.29   | 0.15%             | 2027-08-04      | Fixed         | 4.20%                 | Yes           | 2                  | On Loan: No      |
| Bio-Techne Corp                                           | Bio-Techne Corp                                                                  | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Short            | EC               | CORP              | US        |       -2900 | NS      | $-149205.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| 4D Molecular Therapeutics Inc                             | 4D Molecular Therapeutics Inc                                                    | CUSIP: 35104E100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       11100 | NS      | $41181.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Invesco Ltd                                               | Invesco Ltd                                                                      | CUSIP: 000000000<br>LEI: ECPGFXU8A2SHKVVGJI15 | Short            | EC               | CORP              | BM        |        -300 | NS      | $-4731.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Millrose Properties Inc                                   | Millrose Properties Inc                                                          | CUSIP: 601137102<br>LEI: N/A                  | Short            | EC               |  | US        |       -1700 | NS      | $-48467.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Eurex Deutschland                                         | VSTOXX FUT 07/01/25 25C                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |        4091 | NC      | $-558310.02   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| United Auto Credit Securitization Trust                   | United Auto Credit Securitization Trust 2025-1                                   | CUSIP: 90945JAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1402000 | PA      | $1409744.65   | 0.04%             | 2031-10-10      | Fixed         | 7.71%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.684% 02/01/2034 CMD                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     5000000 | OU      | $-6401.14     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC                            | Sunnova Helios XIV Issuer LLC                                                    | CUSIP: 866974AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     1126133 | PA      | $1016702.97   | 0.03%             | 2051-05-22      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Reservoir Media Inc                                       | Reservoir Media Inc                                                              | CUSIP: 76119X105<br>LEI: 549300PHPDQ9M9QSNU18 | Long             | EC               | CORP              | US        |         600 | NS      | $4602.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ACCO Brands Corp                                          | ACCO Brands Corp                                                                 | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |        8800 | NS      | $31504.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| TCTM Kids IT Education Inc                                | TCTM Kids IT Education Inc                                                       | CUSIP: 876108200<br>LEI: 5493003SGWGFEXTC4U52 | Short            | EC               | CORP              | KY        |         -18 | NS      | $-18.36       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| iTeos Therapeutics Inc                                    | iTeos Therapeutics Inc                                                           | CUSIP: 46565G104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -400 | NS      | $-3988.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT CLP/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CL        |           1 | NC      | $2504.73      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Altice USA Inc                                            | Altice USA Inc                                                                   | CUSIP: 02156K103<br>LEI: 54930064K3612MGCER95 | Long             | EC               | CORP              | US        |        3600 | NS      | $7704.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Q2 Holdings Inc                                           | Q2 Holdings Inc                                                                  | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |       56444 | NS      | $5282593.96   | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Golden Ocean Group Ltd                                    | Golden Ocean Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300HQH91CZG0OJL61 | Long             | EC               | CORP              | BM        |       11800 | NS      | $86376.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Xunlei Ltd                                                | Xunlei Ltd                                                                       | CUSIP: 98419E108<br>LEI: 529900PYSOIKBMQIQY91 | Short            | EC               | CORP              | KY        |        -400 | NS      | $-1620.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | PRIMARY ALUMNM OP SEP 25 2600C                                                   | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          80 | NC      | $154100.00    | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.74725% 04/18/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $6303.65      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Financial Institutions Inc                                | Financial Institutions Inc                                                       | CUSIP: 317585404<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         700 | NS      | $17976.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Maplebear Inc                                             | Maplebear Inc                                                                    | CUSIP: 565394103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-4524.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                   | WaMu Mortgage Pass-Through Certificates Series 2005-AR6 Trust                    | CUSIP: 92922FJ74<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      450058 | PA      | $357561.41    | 0.01%             | 2045-04-25      | Floating      | 5.33%                 | No            | 2                  | On Loan: No      |
| Mirum Pharmaceuticals Inc                                 | Mirum Pharmaceuticals Inc                                                        | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |        3400 | NS      | $173026.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tonix Pharmaceuticals Holding Corp                        | Tonix Pharmaceuticals Holding Corp                                               | CUSIP: 890260839<br>LEI: 529900ACPKP9QW20GX48 | Short            | EC               | CORP              | US        |         -35 | NS      | $-1259.30     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | AUDUSD Crncy Fut  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DFE              |  | US        |          33 | NC      | $15987.70     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | PRIMO BRANDS CORP CFD                                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |    -9720776 | OU      | $-111375.94   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Penguin Solutions Inc                                     | Penguin Solutions Inc                                                            | CUSIP: 000000000<br>LEI: 529900RDGHQY8XKXPN14 | Long             | EC               | CORP              | KY        |        3000 | NS      | $59430.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Post Holdings Inc                                         | Post Holdings Inc                                                                | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Short            | EC               | CORP              | US        |        -900 | NS      | $-98127.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Alight Inc                                                | Alight Inc                                                                       | CUSIP: 01626W101<br>LEI: 549300600ESCO1HTVN74 | Short            | EC               | CORP              | US        |      -26800 | NS      | $-151688.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | GAS OIL SEP 25                                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |           1 | NC      | $300.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Eaton Corp PLC                                            | Eaton Corp PLC                                                                   | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Short            | EC               | CORP              | IE        |       -2200 | NS      | $-785378.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Dover Corp                                                | Dover Corp                                                                       | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Short            | EC               | CORP              | US        |        -328 | NS      | $-60099.44    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Greenlight Capital Re Ltd                                 | Greenlight Capital Re Ltd                                                        | CUSIP: 000000000<br>LEI: 549300Q9HRIFA2BGHJ51 | Long             | EC               | CORP              | KY        |         800 | NS      | $11496.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | CA CARBON ALLOW (CB5) DEC 25 30P                                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         575 | NC      | $1927400.00   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| United Natural Foods Inc                                  | United Natural Foods Inc                                                         | CUSIP: 911163103<br>LEI: 549300GKGW6WPZ282D40 | Short            | EC               | CORP              | US        |       -1400 | NS      | $-32634.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| FULL HOUSE RESORTS INC                                    | Full House Resorts Inc                                                           | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |     1948000 | PA      | $1892821.35   | 0.05%             | 2028-02-15      | Fixed         | 8.25%                 | No            | 2                  | On Loan: No      |
| Savers Value Village Inc                                  | Savers Value Village Inc                                                         | CUSIP: 80517M109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -800 | NS      | $-8160.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TriCo Bancshares                                          | TriCo Bancshares                                                                 | CUSIP: 896095106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         700 | NS      | $28343.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| American Well Corp                                        | American Well Corp                                                               | CUSIP: 03044L204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         335 | NS      | $2978.15      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Verrica Pharmaceuticals Inc                               | Verrica Pharmaceuticals Inc                                                      | CUSIP: 92511W108<br>LEI: 5493002L68H6THU5GW50 | Short            | EC               | CORP              | US        |        -600 | NS      | $-318.06      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT AUG27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          30 | NC      | $3675.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Inogen Inc                                                | Inogen Inc                                                                       | CUSIP: 45780L104<br>LEI: 549300J8WJIVTOJ8IH97 | Short            | EC               | CORP              | US        |        -300 | NS      | $-2109.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Daqo New Energy Corp                                      | Daqo New Energy Corp                                                             | CUSIP: 23703Q203<br>LEI: 529900711JBZ5O7VA827 | Short            | EC               | CORP              | KY        |      -19200 | NS      | $-291264.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Conduit Pharmaceuticals Inc                               | Conduit Pharmaceuticals Inc                                                      | CUSIP: 20678X304<br>LEI: N/A                  | Short            | EC               | CORP              | US        |          -1 | NS      | $-2.76        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| HalseyPoint CLO Ltd.                                      | Halseypoint CLO 7 LTD                                                            | CUSIP: 40638LAJ8<br>LEI: 5493000LI3XMVBCJEF82 | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $998250.00    | 0.03%             | 2036-07-20      | Floating      | 10.11%                | No            | 2                  | On Loan: No      |
| Starbucks Corp                                            | Starbucks Corp                                                                   | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Short            | EC               | CORP              | US        |      -81900 | NS      | $-7504497.00  | -0.20%            |  |  |  | No            | 1                  | On Loan: No      |
| Capitol Federal Financial Inc                             | Capitol Federal Financial Inc                                                    | CUSIP: 14057J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       13400 | NS      | $81740.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Granite Ridge Resources Inc                               | Granite Ridge Resources Inc                                                      | CUSIP: 387432107<br>LEI: 254900CAHJQKOQ1YZC67 | Long             | EC               | CORP              | US        |        1100 | NS      | $7007.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| McLaren Racing Limited                                    | McLaren Racing Limited GBP Term Loan                                             | CUSIP: 000000000<br>LEI: 213800EQN3VTNLH1GZ68 | Long             | LON              | CORP              | GB        |     2484942 | PA      | $3628881.90   | 0.10%             | 2035-12-31      | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| HNI Corp                                                  | HNI Corp                                                                         | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |          34 | NS      | $1672.12      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Meiwu Technology Co Ltd                                   | Meiwu Technology Co Ltd                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |          50 | NS      | $96.00        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Simmons First National Corp                               | Simmons First National Corp                                                      | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Short            | EC               | CORP              | US        |      -53762 | NS      | $-1019327.52  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| Motorola Solutions Inc                                    | Motorola Solutions Inc                                                           | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |         300 | NS      | $126138.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD SGD/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-2941.36     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Toorak Mortgage Corp.                                     | TRK 2021-INV2 Trust                                                              | CUSIP: 87267TAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $728127.00    | 0.02%             | 2056-11-25      | Variable      | 4.35%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT FEB 26 6C                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |          25 | NC      | $105475.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | 3 MONTH SOFR FUT JUN 27                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |          -9 | NC      | $-5237.50     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| M/I Homes Inc                                             | M/I Homes Inc                                                                    | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |         400 | NS      | $44848.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Starwood Commercial Mortgage Trust                        | STWD 2021-LIH Mortgage Trust                                                     | CUSIP: 78486EAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $983374.00    | 0.03%             | 2036-11-15      | Floating      | 8.63%                 | No            | 2                  | On Loan: No      |
| Kioxia Holdings Corp                                      | KIOXIA HOLDINGS CORP                                                             | CUSIP: 000000000<br>LEI: 35380080RTKRARNH4R73 | Short            | EC               | CORP              | JP        |       -1600 | NS      | $-27840.96    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fair Isaac Corp                                           | Fair Isaac Corp                                                                  | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |         398 | NS      | $727528.08    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Anchorage Capital CLO LTD                                 | Anchorage Capital CLO 26 Ltd                                                     | CUSIP: 03331UAL1<br>LEI: 5493004K3H2URWHGJT03 | Long             | ABS-CBDO         | CORP              | KY        |      500000 | PA      | $498000.50    | 0.01%             | 2038-03-19      | Floating      | 10.54%                | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 JUN 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $-14520.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| MELCO RESORTS FINANCE                                     | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     3231000 | PA      | $3156687.32   | 0.08%             | 2028-07-21      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| NYSE Euronext Liffe                                       | EURIBOR 3MO (LIFFE) MAR 26                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         481 | NC      | $-84429.53    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Runway Growth Finance Corp                                | Runway Growth Finance Corp                                                       | CUSIP: 78163D100<br>LEI: 254900AXR3J2N1XT0V02 | Long             | EC               | CORP              | US        |        8900 | NS      | $95497.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | BOWHEAD SPECIALTY HOLDINGS I CFD                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     -395610 | OU      | $-6261.36     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TPG RE Finance Trust Inc                                  | TPG RE Finance Trust Inc                                                         | CUSIP: 87266M107<br>LEI: N/A                  | Long             | EC               |  | US        |       13700 | NS      | $105764.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MHP LUX SA                                                | MHP Lux SA                                                                       | CUSIP: 000000000<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |     3232000 | PA      | $2621417.03   | 0.07%             | 2029-09-19      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| Residential Accredit Loans, Inc.                          | RALI Series 2007-QH5 Trust                                                       | CUSIP: 75116EAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1371503 | PA      | $1029891.81   | 0.03%             | 2037-06-25      | Floating      | 4.85%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                    | Variance Swap - SX5E (19.65% - 2025-12-19)                                       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | XX        |           0 | OU      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Applied Digital Corp                                      | Applied Digital Corp                                                             | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Short            | EC               | CORP              | US        |      -65800 | NS      | $-662606.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| BioNTech SE                                               | BioNTech SE                                                                      | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Short            | EC               | CORP              | DE        |       -8100 | NS      | $-862407.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| AgEagle Aerial Systems Inc                                | AgEagle Aerial Systems Inc                                                       | CUSIP: 00848K309<br>LEI: 5493007TRVZ53BHRWE03 | Short            | EC               | CORP              | US        |       -4400 | NS      | $-4532.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.764% 04/18/2039 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -200000 | OU      | $646.53       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Government National Mortgage Association                  | Government National Mortgage Association                                         | CUSIP: 38379HTX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    10694194 | PA      | $1432915.03   | 0.04%             | 2044-12-20      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| NYSE Euronext Liffe                                       | EURIBOR 3MO (LIFFE) MAR 27                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         283 | NC      | $-20010.34    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Corcept Therapeutics Inc                                  | Corcept Therapeutics Inc                                                         | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |        5000 | NS      | $367000.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| AKUMIN INC                                                | Akumin Inc                                                                       | CUSIP: 01021XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     6650000 | PA      | $5953089.58   | 0.16%             | 2028-08-01      | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| AST SpaceMobile Inc                                       | AST SpaceMobile Inc                                                              | CUSIP: 00217D100<br>LEI: 254900MBSC9P2UCI6623 | Short            | EC               | CORP              | US        |      -65900 | NS      | $-3079507.00  | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| Hudson Technologies Inc                                   | Hudson Technologies Inc                                                          | CUSIP: 444144109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6100 | NS      | $49532.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CSAIL Commercial Mortgage Trust                           | Csail 2015-C2 Commercial Mortgage Trust                                          | CUSIP: 12634NBA5<br>LEI: 549300D5DIOOMKWXVZ20 | Long             | ABS-MBS          | CORP              | US        |      843000 | PA      | $677970.95    | 0.02%             | 2057-06-15      | Variable      | 4.24%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                               | Freddie Mac REMICS                                                               | CUSIP: 3137FYGH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    10958500 | PA      | $1774838.67   | 0.05%             | 2051-04-25      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Grab Holdings Ltd                                         | Grab Holdings Ltd                                                                | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |      114500 | NS      | $575935.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER JUL 25 8500P                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          20 | NC      | $7885.00      | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | BRENT CRUDE SEP 25                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | GB        |         705 | NC      | $-2140932.44  | -0.06%            |  |  |  | No            | 1                  | On Loan: No      |
| Graco Inc                                                 | Graco Inc                                                                        | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |       74213 | NS      | $6380091.61   | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Airbus SE                                                 | Airbus SE                                                                        | CUSIP: 000000000<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |        8109 | NS      | $1696407.24   | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Advantest Corp                                            | Advantest Corp                                                                   | CUSIP: 000000000<br>LEI: 353800EMK32PDKS9XR54 | Short            | EC               | CORP              | JP        |        -100 | NS      | $-7413.10     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER (LISTED) 12/17/2025 DEC 25                                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |         -53 | NC      | $-405887.50   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD CLP/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-5334.37     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| SPDR S&P Biotech ETF                                      | SPDR S&P Biotech ETF                                                             | CUSIP: 78464A870<br>LEI: 549300Y3ODFMPD5XXL58 | Short            | EC               | RF                | US        |       -2958 | NS      | $-245306.94   | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |     1183959 | PA      | $1183958.81   | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY HB LD1 MAY 30                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |          16 | NC      | $-20760.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | CHENIERE ENERGY INC CFD                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     5418182 | OU      | $256077.99    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| GoodLeap Sustainable Home Improvement Loan Trust          | Goodleap Sustainable Home Solutions Trust 2023-3                                 | CUSIP: 38237CAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      361000 | PA      | $281770.25    | 0.01%             | 2055-07-20      | Fixed         | 7.80%                 | No            | 2                  | On Loan: No      |
| Zynex Inc                                                 | Zynex Inc                                                                        | CUSIP: 98986M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        4300 | NS      | $11094.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Securities PLC                                   | EO-XAGUSD(USD) 12/29/25 35C                                                      | CUSIP: 000000000<br>LEI: K6Q0W1PS1L1O4IQL9C32 | N/A              | DCO              |  | US        |      200000 | NC      | $665409.42    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Rexford Industrial Realty Inc                             | Rexford Industrial Realty Inc                                                    | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Short            | EC               |  | US        |       -2000 | NS      | $-71140.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Incyte Corp                                               | Incyte Corp                                                                      | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Short            | EC               | CORP              | US        |        -100 | NS      | $-6810.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| PDS Biotechnology Corp                                    | PDS Biotechnology Corp                                                           | CUSIP: 70465T107<br>LEI: 5493002KU8ACFTSMC935 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-2128.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| FibroGen Inc                                              | FibroGen Inc                                                                     | CUSIP: 31572Q881<br>LEI: 549300Q914ULWWY95822 | Long             | EC               | CORP              | US        |         185 | NS      | $980.50       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Warner Bros Discovery Inc                                 | Warner Bros Discovery Inc                                                        | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Short            | EC               | CORP              | US        |     -234074 | NS      | $-2682488.04  | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| Modine Manufacturing Co                                   | Modine Manufacturing Co                                                          | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Short            | EC               | CORP              | US        |      -12500 | NS      | $-1231250.00  | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | BOUGHT BRL/SOLD USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | BR        |           1 | NC      | $12264.40     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Sachem Capital Corp                                       | Sachem Capital Corp                                                              | CUSIP: 78590A109<br>LEI: N/A                  | Short            | EC               |  | US        |       -1400 | NS      | $-1680.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Arvinas Inc                                               | Arvinas Inc                                                                      | CUSIP: 04335A105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -100 | NS      | $-736.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.248227% 02/26/2075 LCH                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -800000 | OU      | $-8731.10     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| OCP CLO Ltd                                               | OCP CLO 2023-28 Ltd                                                              | CUSIP: 671002AA1<br>LEI: 2138002ZIH5ZX5JB4G62 | Long             | ABS-CBDO         | CORP              | JE        |     1000000 | PA      | $996250.00    | 0.03%             | 2036-07-16      | Floating      | 12.66%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS GBP 3.99255% 03/19/2030 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |     -500000 | OU      | $9125.87      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| California Housing Finance Agency                         | California Housing Finance Agency                                                | CUSIP: 13033DAB1<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    14075399 | PA      | $207035.05    | 0.01%             | 2035-01-15      | Variable      | 0.29%                 | No            | 2                  | On Loan: No      |
| KB Home                                                   | KB Home                                                                          | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |        5700 | NS      | $301929.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| SpartanNash Co                                            | SpartanNash Co                                                                   | CUSIP: 847215100<br>LEI: 549300TV3QCCSQLF5X16 | Long             | EC               | CORP              | US        |        1400 | NS      | $37086.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fulcrum Therapeutics Inc                                  | Fulcrum Therapeutics Inc                                                         | CUSIP: 359616109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        7200 | NS      | $49536.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tenable Holdings Inc                                      | Tenable Holdings Inc                                                             | CUSIP: 88025T102<br>LEI: 5493004S5OMPESF0EF83 | Long             | EC               | CORP              | US        |        1500 | NS      | $50670.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | CRUDE OIL (NY) JAN 26                                                            | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -63 | NC      | $117881.59    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Claros Mortgage Trust Inc                                 | Claros Mortgage Trust Inc                                                        | CUSIP: 18270D106<br>LEI: 549300Z9LU2CZ3K30C16 | Short            | EC               |  | US        |        -600 | NS      | $-1710.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| NYSE Euronext Liffe                                       | EURIBOR 3MO (LIFFE) SEP 25                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         496 | NC      | $-132179.66   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Clear Secure Inc                                          | Clear Secure Inc                                                                 | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         500 | NS      | $13880.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Commodities Exchange Center                               | PALLADIUM OPT SEP 25 1025P                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |          42 | NC      | $71820.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| NEUROBO PHARMACEUTICALS INC                               | NEUROBO PHARMACEUTICALS INC                                                      | CUSIP: 641CVR014<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -92 | NS      | $-28.71       | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Hut 8 Corp                                                | Hut 8 Corp                                                                       | CUSIP: 44812J104<br>LEI: 98450066FEF9C1D3FC20 | Short            | EC               | CORP              | US        |      -32100 | NS      | $-597060.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Vale SA                                                   | Vale SA                                                                          | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Short            | EC               | CORP              | BR        |       -9600 | NS      | $-93216.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Xencor Inc                                                | Xencor Inc                                                                       | CUSIP: 98401F105<br>LEI: 549300V5IF65437JKG30 | Long             | EC               | CORP              | US        |        9800 | NS      | $77028.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.263% 07/31/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      100000 | OU      | $-1019.18     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Onto Innovation Inc                                       | Onto Innovation Inc                                                              | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |        7000 | NS      | $706510.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Lifecore Biomedical Inc                                   | Lifecore Biomedical Inc                                                          | CUSIP: 514766104<br>LEI: 549300EHBZ5OM9ND9O43 | Short            | EC               | CORP              | US        |        -300 | NS      | $-2436.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CTM CLO Ltd                                               | CTM CLO 2025-1 Ltd                                                               | CUSIP: 12719QAA7<br>LEI: 254900KXN2P7HDYVVW84 | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $2000000.00   | 0.05%             | 2038-07-15      | Floating      | 0.00%                 | No            | N/A                | On Loan: No      |
| American Express Co                                       | American Express Co                                                              | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |          72 | NS      | $22966.56     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                               | CIRS USD 3.8149% 06/21/2036 CMD                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     1500000 | OU      | $-9200.59     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LQR House Inc                                             | LQR House Inc                                                                    | CUSIP: 50215C307<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -171 | NS      | $-251.37      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Johnson Outdoors Inc                                      | Johnson Outdoors Inc                                                             | CUSIP: 479167108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         300 | NS      | $9081.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Alternative Loan Trust                        | Alternative Loan Trust 2006-13T1                                                 | CUSIP: 12668BZR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      382973 | PA      | $160282.68    | 0.00%             | 2036-05-25      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Upstart Holdings Inc                                      | Upstart Holdings Inc                                                             | CUSIP: 91680M107<br>LEI: 549300WNB47JRNENIC75 | Long             | EC               | CORP              | US        |       10200 | NS      | $659736.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Argan Inc                                                 | Argan Inc                                                                        | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |         500 | NS      | $110240.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Midland States Bancorp Inc                                | Midland States Bancorp Inc                                                       | CUSIP: 597742105<br>LEI: 5493006RHXW9TTBWYC94 | Long             | EC               | CORP              | US        |        1100 | NS      | $19052.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ESC PERSHING SQUARE TO                                    | ESC PERSHING SQUARE TO                                                           | CUSIP: 715ESC018<br>LEI: 549300ZDVEYEVCF35B08 | Long             | EC               | CORP              | US        |     2020101 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| New York Mercantile Exchange                              | NAT GAS EURO OPT SEP 25 3.25P                                                    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         257 | NC      | $514771.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Bankers Healthcare Group Securitization Trust             | BHG Securitization Trust 2022-A                                                  | CUSIP: 054977AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      312000 | PA      | $301990.73    | 0.01%             | 2035-02-20      | Fixed         | 3.08%                 | No            | 2                  | On Loan: No      |
| Tango Therapeutics Inc                                    | Tango Therapeutics Inc                                                           | CUSIP: 87583X109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -1800 | NS      | $-9216.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| BayCom Corp                                               | BayCom Corp                                                                      | CUSIP: 07272M107<br>LEI: 549300UOLS54Q5ONIG33 | Long             | EC               | CORP              | US        |         200 | NS      | $5542.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Atossa Therapeutics Inc                                   | Atossa Therapeutics Inc                                                          | CUSIP: 04962H506<br>LEI: 549300QRKP1JTNHD2366 | Long             | EC               | CORP              | US        |         300 | NS      | $249.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Haleon PLC                                                | Haleon PLC                                                                       | CUSIP: 405552100<br>LEI: 549300PSB3WWEODCUP19 | Short            | EC               | CORP              | GB        |     -193500 | NS      | $-2006595.00  | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS USD 3.793% 08/24/2054 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     -850000 | OU      | $-27719.35    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Cardio Diagnostics Holdings Inc                           | Cardio Diagnostics Holdings Inc                                                  | CUSIP: 14159C202<br>LEI: 529900E3UWQ6LHYRCK14 | Short            | EC               | CORP              | US        |        -315 | NS      | $-1134.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Benefit Street Partners CLO Ltd                           | Benefit Street Partners CLO XXVI Ltd                                             | CUSIP: 08186CAE2<br>LEI: 2549008S0Y5AP2WIEL43 | Long             | ABS-CBDO         | CORP              | KY        |     1000000 | PA      | $1002167.00   | 0.03%             | 2037-07-20      | Floating      | 10.27%                | No            | 2                  | On Loan: No      |
| Galiano Gold Inc                                          | Galiano Gold Inc                                                                 | CUSIP: 36352H100<br>LEI: 529900V13XJFM0VPGC86 | Long             | EC               | CORP              | CA        |         200 | NS      | $254.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association                  | Government National Mortgage Association                                         | CUSIP: 38382H6Y1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    10581066 | PA      | $2171742.65   | 0.06%             | 2050-08-20      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Bank of America NA                                        | BOUGHT CNH/SOLD USD                                                              | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | CN        |           1 | NC      | $35607.13     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Maravai LifeSciences Holdings Inc                         | Maravai LifeSciences Holdings Inc                                                | CUSIP: 56600D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       33700 | NS      | $81217.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Acumen Pharmaceuticals Inc                                | Acumen Pharmaceuticals Inc                                                       | CUSIP: 00509G209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        6300 | NS      | $7308.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| London Metal Exchange                                     | LME COPPER JUN 26 8500P                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |          40 | NC      | $250470.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Allogene Therapeutics Inc                                 | Allogene Therapeutics Inc                                                        | CUSIP: 019770106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       42200 | NS      | $47686.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tyra Biosciences Inc                                      | Tyra Biosciences Inc                                                             | CUSIP: 90240B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         600 | NS      | $5742.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ford Motor Co                                             | Ford Motor Co                                                                    | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Short            | EC               | CORP              | US        |       -2796 | NS      | $-30336.60    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| cbdMD Inc                                                 | cbdMD Inc                                                                        | CUSIP: 12482W408<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -30 | NS      | $-26.76       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| TELEGRAM GROUP INC                                        | TELEGRAM GROUP INC 9.0 06/05/30                                                  | CUSIP: 000000000<br>LEI: 254900BJBDIA1F0KKJ52 | Long             | DBT              | CORP              | VG        |      716000 | PA      | $714854.40    | 0.02%             | 2030-06-05      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| ICNQ Mortgage Trust                                       | ICNQ 2024-MF Mortgage Trust                                                      | CUSIP: 450953AN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $971884.00    | 0.03%             | 2034-12-10      | Variable      | 6.56%                 | No            | 2                  | On Loan: No      |
| Bank5                                                     | BANK5 2024-5YR5                                                                  | CUSIP: 065931AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1000000 | PA      | $96625.00     | 0.00%             | 2029-02-15      | Variable      | 3.24%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD CNH/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-187284.91   | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.618% 04/04/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-12879.44    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Forrester Research Inc                                    | Forrester Research Inc                                                           | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |        1500 | NS      | $14850.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC               | BBCMS Mortgage Trust 2022-C16                                                    | CUSIP: 05552YAM8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4299000 | PA      | $531837.89    | 0.01%             | 2055-06-15      | Variable      | 2.33%                 | No            | 2                  | On Loan: No      |
| Jack Henry & Associates Inc                               | Jack Henry & Associates Inc                                                      | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Short            | EC               | CORP              | US        |       -4487 | NS      | $-808422.79   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS CAD 3.611% 05/08/2034 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | CA        |      300000 | OU      | $-12597.10    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Varonis Systems Inc                                       | Varonis Systems Inc                                                              | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Short            | EC               | CORP              | US        |        -634 | NS      | $-32175.50    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Provident Financial Services Inc                          | Provident Financial Services Inc                                                 | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |        2743 | NS      | $48084.79     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BellRing Brands Inc                                       | BellRing Brands Inc                                                              | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |        7976 | NS      | $462049.68    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Everus Construction Group Inc                             | Everus Construction Group Inc                                                    | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Short            | EC               | CORP              | US        |        -800 | NS      | $-50824.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| SimilarWeb Ltd                                            | SimilarWeb Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900GWO7PNBAYCPJ12 | Long             | EC               | CORP              | IL        |         700 | NS      | $5488.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nektar Therapeutics                                       | Nektar Therapeutics                                                              | CUSIP: 640268306<br>LEI: 5299005I24806IOIYE03 | Short            | EC               | CORP              | US        |        -440 | NS      | $-11369.60    | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Morgan Stanley BAML Trust                                 | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C32                      | CUSIP: 61691GAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      991000 | PA      | $745210.20    | 0.02%             | 2049-12-15      | Variable      | 3.40%                 | No            | 2                  | On Loan: No      |
| TransDigm Group Inc                                       | TransDigm Group Inc                                                              | CUSIP: 893641100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |         -25 | NS      | $-38016.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| AZUL SECURED FINANCE LLP                                  | Azul Secured Finance LLP                                                         | CUSIP: 05502BAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     4960188 | PA      | $912957.25    | 0.02%             | 2025-10-30      | None          | 0.00%                 | No            | 3                  | On Loan: No      |
| BigBear.ai Holdings Inc                                   | BigBear.ai Holdings Inc                                                          | CUSIP: 08975B109<br>LEI: 549300XGCF2ELN28CS63 | Short            | EC               | CORP              | US        |      -21307 | NS      | $-144674.53   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| New York Mercantile Exchange                              | GASOLINE RBOB NOV 25                                                             | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         115 | NC      | $-663803.11   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| Akebia Therapeutics Inc                                   | Akebia Therapeutics Inc                                                          | CUSIP: 00972D105<br>LEI: 549300CBQEHMKEEGNX42 | Short            | EC               | CORP              | US        |       -9200 | NS      | $-33488.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Fusion Fuel Green PLC                                     | Fusion Fuel Green PLC                                                            | CUSIP: 000000000<br>LEI: 635400GWH5YE1XNIVG85 | Short            | EC               | CORP              | IE        |        -400 | NS      | $-80.00       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | RA               | CORP              | US        |      692663 | PA      | $692663.34    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS EUR 2.43205% 10/09/2034 LCH                                                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | XX        |     -300000 | OU      | $506.68       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Sitio Royalties Corp                                      | Sitio Royalties Corp                                                             | CUSIP: 82983N108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |          -7 | NS      | $-128.66      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD PLN/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-3492.57     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                    | US ULTRA BOND CBT Sep25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -152 | NC      | $-380657.90   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| GEE Group Inc                                             | GEE Group Inc                                                                    | CUSIP: 36165A102<br>LEI: 549300FHWV21VESO1Y46 | Long             | EC               | CORP              | US        |        5200 | NS      | $1023.37      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| EquipmentShare                                            | Crockett Partners Equipment Co IIA LLC                                           | CUSIP: 22689LAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      213333 | PA      | $217963.09    | 0.01%             | 2031-01-20      | Fixed         | 10.16%                | No            | 2                  | On Loan: No      |
| Citibank NA                                               | SOLD EUR/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |           1 | NC      | $-41248.16    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| BASF SE                                                   | BASF SE                                                                          | CUSIP: 000000000<br>LEI: 529900PM64WH8AF1E917 | Short            | EC               | CORP              | DE        |       -1966 | NS      | $-97237.34    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Globant SA                                                | Globant SA                                                                       | CUSIP: 000000000<br>LEI: 2221008DCMSPYS42DS88 | Short            | EC               | CORP              | LU        |        -700 | NS      | $-63588.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Johnson & Johnson                                         | Johnson & Johnson                                                                | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Short            | EC               | CORP              | US        |          -2 | NS      | $-305.50      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Elmwood CLO 26 Ltd                                        | Elmwood CLO 26 Ltd                                                               | CUSIP: 29004DAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     1605200 | PA      | $1606469.71   | 0.04%             | 2037-04-18      | Floating      | 10.72%                | No            | 2                  | On Loan: No      |
| MannKind Corp                                             | MannKind Corp                                                                    | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Long             | EC               | CORP              | US        |       52300 | NS      | $195602.00    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nano Dimension Ltd                                        | Nano Dimension Ltd                                                               | CUSIP: 63008G203<br>LEI: 529900VO8AZA0A4ZUM77 | Long             | EC               | CORP              | IL        |         100 | NS      | $162.00       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Ameresco Inc                                              | Ameresco Inc                                                                     | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Short            | EC               | CORP              | US        |       -1800 | NS      | $-27342.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Nutrien Ltd                                               | Nutrien Ltd                                                                      | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Short            | EC               | CORP              | CA        |       -1500 | NS      | $-87360.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CNT PRNT/CDK GLO II/FIN                                   | Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc                    | CUSIP: 154915AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1208000 | PA      | $998890.75    | 0.03%             | 2029-06-15      | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| Mercer International Inc                                  | Mercer International Inc                                                         | CUSIP: 588056101<br>LEI: 549300Z5IAG39VRTY874 | Long             | EC               | CORP              | US        |        2400 | NS      | $8400.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Yalla Group Ltd                                           | Yalla Group Ltd                                                                  | CUSIP: 98459U103<br>LEI: 254900JO9GJYWVJTAX89 | Short            | EC               | CORP              | KY        |        -900 | NS      | $-6066.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 2.208% 10/24/2029 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -5900000 | OU      | $9494.93      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Celestica Inc                                             | Celestica Inc                                                                    | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Short            | EC               | CORP              | CA        |      -37000 | NS      | $-5776070.00  | -0.15%            |  |  |  | No            | 1                  | On Loan: No      |
| Docusign Inc                                              | Docusign Inc                                                                     | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Short            | EC               | CORP              | US        |       -4300 | NS      | $-334927.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Krystal Biotech Inc                                       | Krystal Biotech Inc                                                              | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Short            | EC               | CORP              | US        |       -1600 | NS      | $-219936.00   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Countrywide Asset-Backed Certificates                     | CWABS Asset-Backed Certificates Trust 2005-10                                    | CUSIP: 126670AH1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      268236 | PA      | $271378.20    | 0.01%             | 2036-02-25      | Variable      | 4.14%                 | No            | 2                  | On Loan: No      |
| Karman Holdings Inc                                       | Karman Holdings Inc                                                              | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       74956 | NS      | $3775533.72   | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| CFG Investments Limited                                   | CFG Investments Ltd                                                              | CUSIP: 12528GAN2<br>LEI: 549300C3OD89QRWQ1Y92 | Long             | ABS-O            | CORP              | KY        |      251000 | PA      | $252902.83    | 0.01%             | 2036-03-25      | Fixed         | 9.16%                 | No            | 2                  | On Loan: No      |
| Zentalis Pharmaceuticals Inc                              | Zentalis Pharmaceuticals Inc                                                     | CUSIP: 98943L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       17200 | NS      | $19952.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. LLC                                  | KINDER MORGAN INC - CFD                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |     3638694 | OU      | $169693.47    | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Mitsubishi Corp                                           | Mitsubishi Corp                                                                  | CUSIP: 000000000<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |        3100 | NS      | $61943.89     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Symphony CLO Ltd                                          | Symphony CLO 40 Ltd                                                              | CUSIP: 871989AX7<br>LEI: 25490001HYY3IX1I5Z32 | Long             | ABS-CBDO         | CORP              | BM        |     1300000 | PA      | $1303107.00   | 0.03%             | 2038-01-05      | Floating      | 8.24%                 | No            | 2                  | On Loan: No      |
| Caterpillar Inc                                           | Caterpillar Inc                                                                  | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Short            | EC               | CORP              | US        |        -628 | NS      | $-243795.88   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Broad River BSL Funding CLO Ltd                           | Broad River Bsl Funding Clo Ltd 2020-1                                           | CUSIP: 11124UAC5<br>LEI: 5493000KEEYM16WOW109 | Long             | ABS-CBDO         | CORP              | KY        |     2000000 | PA      | $1992264.00   | 0.05%             | 2034-07-20      | Floating      | 11.03%                | No            | 2                  | On Loan: No      |
| LCH Ltd.                                                  | CIRS SEK 3.074% 04/03/2040 LCH                                                   | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | SE        |    -1900000 | OU      | $9702.44      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Inter & Co Inc                                            | Inter & Co Inc                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |         700 | NS      | $5201.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AZUL SECURED FINANCE LLP                                  | Azul Secured Finance LLP                                                         | CUSIP: 05501WAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      802022 | PA      | $20050.55     | 0.00%             | 2030-08-28      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Toorak Mortgage Corp.                                     | TRK 2022-INV1 Trust                                                              | CUSIP: 872635AE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      111000 | PA      | $83983.04     | 0.00%             | 2057-02-25      | Variable      | 3.99%                 | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                             | SOLD CZK/BOUGHT USD                                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-31063.29    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                               | S&P500 EMINI FUT  Sep25                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |         191 | NC      | $1536547.50   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Treasure Global Inc                                       | Treasure Global Inc                                                              | CUSIP: 89458T304<br>LEI: N/A                  | Long             | EC               | CORP              | US        |           4 | NS      | $4.40         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SGS SA                                                    | SGS SA                                                                           | CUSIP: 000000000<br>LEI: 2138007JNS19JHNA2336 | Short            | EC               | CORP              | CH        |        -307 | NS      | $-31171.41    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| IDEX Corp                                                 | IDEX Corp                                                                        | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Short            | EC               | CORP              | US        |        -232 | NS      | $-40732.24    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| COMM Mortgage Trust                                       | COMM 2015-CCRE25 Mortgage Trust                                                  | CUSIP: 12593PBB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      479000 | PA      | $459441.95    | 0.01%             | 2048-08-10      | Variable      | 3.94%                 | No            | 2                  | On Loan: No      |
| Lululemon Athletica Inc                                   | Lululemon Athletica Inc                                                          | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Short            | EC               | CORP              | US        |       -3600 | NS      | $-855288.00   | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| REPUBLIC OF EL SALVADOR                                   | El Salvador Government International Bond                                        | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     4700000 | PA      | $98700.00     | 0.00%             | 2030-04-17      | Fixed         | 0.25%                 | Yes           | 2                  | On Loan: No      |
| Clearwater Analytics Holdings Inc                         | Clearwater Analytics Holdings Inc                                                | CUSIP: 185123106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |        -700 | NS      | $-15351.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Summit Hotel Properties Inc                               | Summit Hotel Properties Inc                                                      | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Short            | EC               |  | US        |        -600 | NS      | $-3054.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Bionano Genomics Inc                                      | Bionano Genomics Inc                                                             | CUSIP: 09075F404<br>LEI: 54930086AP7ROH0VJ631 | Short            | EC               | CORP              | US        |        -900 | NS      | $-2952.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ECHOSTAR CORP                                             | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |      609055 | PA      | $555842.08    | 0.01%             | 2030-11-30      | Fixed         | 6.75%                 | No            | N/A                | On Loan: No      |
| Pagaya AI Debt Selection Trust                            | PAGAYA AI Debt Trust 2022-2                                                      | CUSIP: 69546VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     4087651 | PA      | $4108674.06   | 0.11%             | 2030-01-15      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| New York Mercantile Exchange                              | NATURAL  GAS OCT 26                                                              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |         -34 | NC      | $-144070.00   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Surgery Partners Inc                                      | Surgery Partners Inc                                                             | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Short            | EC               | CORP              | US        |       -4000 | NS      | $-88920.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| ROCHE HOLDING AG-GENUSSS                                  | ROCHE HOLDING AG-GENUSSS                                                         | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Short            | EC               | CORP              | CH        |        -568 | NS      | $-185406.41   | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Textron Inc                                               | Textron Inc                                                                      | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Short            | EC               | CORP              | US        |        -400 | NS      | $-32116.00    | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Ballard Power Systems Inc                                 | Ballard Power Systems Inc                                                        | CUSIP: 058586108<br>LEI: 549300OHZ8BMF53YYS26 | Long             | EC               | CORP              | CA        |       55900 | NS      | $88881.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Lexicon Pharmaceuticals Inc                               | Lexicon Pharmaceuticals Inc                                                      | CUSIP: 528872302<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -9100 | NS      | $-8605.87     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Healthpeak Properties Inc                                 | Healthpeak Properties Inc                                                        | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Short            | EC               |  | US        |      -13240 | NS      | $-231832.40   | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Intercontinental Exchange, Inc.                           | HENRY LD1 FIX FUT NOV27                                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCO              |  | US        |         -10 | NC      | $-4425.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Brinker International Inc                                 | Brinker International Inc                                                        | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |        4000 | NS      | $721320.00    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Blackstone Alternative Investment Funds

**Signature:** Tom Procida

**Name of Signer:** Tom Procida

**Title:** Treasurer