# EDGAR Filing Document

**Accession Number:** 0000742212
**File Stem:** 0001410368-25-029484
**Filing Date:** 2025-11
**Character Count:** 451720
**Document Hash:** 58a89322328a4df889b60abd016f4b5d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-029484.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001410368-25-029484

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHWESTERN MUTUAL SERIES FUND INC
- **CENTRAL INDEX KEY:** 0000742212

**ORGANIZATION NAME:**
- **EIN:** 391603401
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03990
- **FILM NUMBER:** 251511994

**BUSINESS ADDRESS:**
- **STREET 1:** 720 E WISCONSIN AVE
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4142992508

**MAIL ADDRESS:**
- **STREET 1:** 720 EAST WISCONSIN AVE
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NORTHWESTERN MUTUAL VARIABLE LIFE SERIES FUND INC
- **DATE OF NAME CHANGE:** 19940830

## Series and Classes Contracts Data

### Short-Term Bond Portfolio (Series ID: S000018233)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000050281 | Short-Term Bond Portfolio |  |

## Nport-Ex

Short-Term Bond Portfolio

SCHEDULE OF INVESTMENTS

**September 30, 2025 (unaudited)** 

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Basic Materials (1.2%)** |  |  |
|  Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 8/5/26 | 445000 | 431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.665%, 7/15/27 | 275000 | 282 |
|  Corporacion Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/30/29 § | 870000 | 822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/1/27 § | 200000 | 198 |
|  FMC Corp.<br>3.450%, 10/1/29 | 419000 | 396 |
|  Freeport-McMoRan, Inc.<br>5.250%, 9/1/29 | 119000 | 121 |
|  LYB International Finance III LLC<br>1.250%, 10/1/25 | 373000 | 373 |
|  Ma'aden Sukuk, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/13/30 144A | 710000 | 733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/13/30 § | 230000 | 237 |
|  MEGlobal BV<br>2.625%, 4/28/28 § | 420000 | 400 |
|  Nutrien, Ltd.<br>4.900%, 3/27/28 | 240000 | 244 |
|  The Sherwin-Williams Co.<br>4.550%, 3/1/28 | 440000 | 444 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **4681** |
|  **Communications (2.1%)** |  |  |
|  AT&T, Inc.<br>4.100%, 2/15/28 | 205000 | 205 |
|  Comcast Corp.<br>4.150%, 10/15/28 | 235000 | 236 |
|  Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 9/15/26 144A | 235000 | 233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/15/27 144A | 215000 | 212 |
|  Crown Castle Towers LLC<br>4.241%, 7/15/48 144A | 175000 | 173 |
|  eBay, Inc.<br>3.600%, 6/5/27 | 1035000 | 1027 |
|  KT Corp.<br>4.125%, 2/2/28 144A | 200000 | 200 |
|  NBN Co., Ltd.<br>1.450%, 5/5/26 144A | 1000000 | 984 |
|  NTT Finance Corp.<br>4.620%, 7/16/28 144A | 370000 | 374 |
|  Omnicom Group, Inc.<br>3.600%, 4/15/26 | 185000 | 184 |
|  Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/15/27 | 815000 | 803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/15/29 | 990000 | 1009 |
|  T-Mobile USA, Inc.<br>2.250%, 2/15/26 | 470000 | 466 |
|  Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 1/15/31 | 545000 | 540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/15/29 144A | 921000 | 918 |
|  Verizon Communications, Inc.<br>2.100%, 3/22/28 | 851000 | 812 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **8376** |

---

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Consumer, Cyclical (5.9%)** |  |  |
|  American Airlines Pass-Through Trust, Series 2017-2, Class B<br>3.700%, 4/15/27 | 112519 | 112 |
|  American Honda Finance Corp.<br>5.650%, 11/15/28 | 675000 | 704 |
|  AutoZone, Inc.<br>5.125%, 6/15/30 | 430000 | 444 |
|  BMW US Capital LLC<br>4.600%, 8/13/27 144A | 970000 | 978 |
|  CK Hutchison International 25, Ltd.<br>4.250%, 9/26/30 144A | 590000 | 588 |
|  Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 8/12/27 144A | 370000 | 371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/27 144A | 190000 | 192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 9/25/27 144A | 345000 | 351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 1/16/26 144A | 165000 | 165 |
|  Darden Restaurants, Inc.<br>4.350%, 10/15/27 | 560000 | 562 |
|  Delta Air Lines, Inc.<br>4.950%, 7/10/28 | 360000 | 364 |
|  Dollar General Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/1/28 | 632000 | 629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/1/27 | 310000 | 313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/5/28 | 347000 | 355 |
|  Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 11/5/26 | 385000 | 386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/5/27 | 485000 | 490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.918%, 3/20/28 | 300000 | 305 |
|  General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 4/4/28 | 780000 | 793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 7/15/27 | 620000 | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 4/6/26 | 300000 | 302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 5/8/27 | 393000 | 400 |
|  Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/25/27 144A | 455000 | 458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/23/27 144A | 400000 | 404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/7/28 144A | 465000 | 472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/8/27 144A | 200000 | 202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/30/26 144A | 270000 | 271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 3/30/28 144A | 350000 | 360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/3/25 144A | 260000 | 260 |
|  LG Energy Solution, Ltd.<br>5.375%, 7/2/27 § | 775000 | 787 |
|  Lowe's Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 4/1/27 | 175000 | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/28 | 245000 | 245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 4/1/26 | 385000 | 386 |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 6/15/26 | 809000 | 803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 9/15/26 | 195000 | 197 |
|  Mattel, Inc.<br>3.375%, 4/1/26 144A | 673000 | 668 |
|  Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/30/26 144A | 190000 | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 1/11/27 144A | 1170000 | &nbsp;&nbsp;&nbsp;&nbsp;1181 |

---

**1** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Consumer, Cyclical continued** |  |  |
|  O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 6/1/28 | 390000 | 392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/20/26 | 1133000 | 1153 |
|  Ross Stores, Inc.<br>0.875%, 4/15/26 | 765000 | 751 |
|  Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/12/27 | 165000 | 160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/28 | 405000 | 404 |
|  Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 3/22/27 | 325000 | 321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 9/5/28 | 695000 | 697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 10/8/27 | 600000 | 605 |
|  Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/11/27 144A | 200000 | 201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 8/15/27 144A | 680000 | 686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/27/28 144A | 320000 | 324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 9/12/26 144A | 555000 | 562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/16/26 144A | 380000 | 387 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **23136** |
|  **Consumer, Non-cyclical (8.0%)** |  |  |
|  Altria Group, Inc.<br>2.625%, 9/16/26 | 424000 | 419 |
|  Bacardi, Ltd.<br>4.700%, 5/15/28 144A | 789000 | 795 |
|  BAT International Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.668%, 3/25/26 | 475000 | 469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.448%, 3/16/28 | 1010000 | 1016 |
|  Becton Dickinson and Co.<br>4.693%, 2/13/28 | 805000 | 815 |
|  Bunge, Ltd., Finance Corp.<br>4.900%, 4/21/27 | 600000 | 607 |
|  Cardinal Health, Inc.<br>4.500%, 9/15/30 | 315000 | 316 |
|  Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 12/15/27 | 124000 | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/15/27 | 330000 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 12/15/29 | 175000 | 179 |
|  Centene Corp.<br>4.625%, 12/15/29 | 1490000 | 1444 |
|  Coca-Cola European Partners PLC<br>1.500%, 1/15/27 144A | 200000 | 193 |
|  CSL Finance PLC<br>3.850%, 4/27/27 144A | 200000 | 199 |
|  CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 8/21/27 | 1070000 | 1014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 6/1/26 | 386000 | 382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/26 | 220000 | 218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 3/25/28 | 345000 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/20/26 | 1176000 | 1178 |
|  Diageo Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/18/28 | 1080000 | 1076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 10/24/27 | 1080000 | 1107 |
|  Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.037%, 3/25/30 144A | 375000 | 383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.643%, 3/13/27 144A | 355000 | 362 |
|  EMD Finance LLC<br>4.125%, 8/15/28 144A | 1035000 | 1035 |
|  ERAC USA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 5/1/28 144A | 735000 | 744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/15/29 144A | 280000 | 287 |

---

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Consumer, Non-cyclical continued** |  |  |
|  HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 3/15/27 | 580000 | 572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/1/28 | 870000 | 898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/15/26 | 390000 | 390 |
|  Health Care Service Corp.<br>5.200%, 6/15/29 144A | 290000 | 298 |
|  Heineken NV<br>3.500%, 1/29/28 144A | 1972000 | 1951 |
|  Highmark, Inc.<br>1.450%, 5/10/26 144A | 205000 | 201 |
|  Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/28 | 140000 | 144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/1/28 | 495000 | 516 |
|  Icon Investments Six DAC<br>5.809%, 5/8/27 | 935000 | 954 |
|  Imperial Brands Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/30/28 144A | 420000 | 423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 7/27/27 144A | 555000 | 573 |
|  IQVIA, Inc.<br>6.250%, 2/1/29 | 255000 | 268 |
|  Japan Tobacco, Inc.<br>4.850%, 5/15/28 144A | 870000 | 885 |
|  The Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 10/15/26 | 404000 | 398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 8/1/27 | 103000 | 102 |
|  Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 4/20/28 144A | 770000 | 780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 3/1/28 144A | 560000 | 567 |
|  PeaceHealth Obligated Group<br>1.375%, 11/15/25 | 105000 | 105 |
|  PepsiCo, Inc.<br>4.100%, 1/15/29 | 830000 | 833 |
|  Pernod Ricard SA<br>3.250%, 6/8/26 144A | 835000 | 830 |
|  Philip Morris International, Inc.<br>5.125%, 11/17/27 | 163000 | 167 |
|  S&P Global, Inc.<br>2.450%, 3/1/27 | 955000 | 935 |
|  Solventum Corp.<br>5.450%, 2/25/27 | 302000 | 307 |
|  Stryker Corp.<br>4.700%, 2/10/28 | 640000 | 649 |
|  Thermo Fisher Scientific, Inc.<br>1.750%, 10/15/28 | 390000 | 365 |
|  Utah Acquisition Sub, Inc.<br>3.950%, 6/15/26 | 564000 | 561 |
|  Verisk Analytics, Inc.<br>4.500%, 8/15/30 | 565000 | 567 |
|  Viatris, Inc.<br>2.300%, 6/22/27 | 429000 | 413 |
|  Zoetis, Inc.<br>3.000%, 9/12/27 | 612000 | 601 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **31292** |
|  **Energy (3.9%)** |  |  |
|  BP Capital Markets America, Inc.<br>4.234%, 11/6/28 | 315000 | 316 |
|  BP Capital Markets PLC<br>3.723%, 11/28/28 | 465000 | 460 |
|  Canadian Natural Resources, Ltd.<br>3.850%, 6/1/27 | 440000 | 437 |

---

**2** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Energy continued** |  |  |
|  Cheniere Corpus Christi Holdings LLC<br>5.125%, 6/30/27 | 547000 | 553 |
|  Cheniere Energy, Inc.<br>4.625%, 10/15/28 | 17000 | 17 |
|  Columbia Pipelines Holding Co. LLC<br>6.055%, 8/15/26 144A | 90000 | 91 |
|  Diamondback Energy, Inc.<br>5.200%, 4/18/27 | 455000 | 462 |
|  Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 6/20/28 | 180000 | 182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 11/15/26 | 230000 | 234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/28 | 190000 | 200 |
|  Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/1/29 | 320000 | 329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 12/1/26 | 875000 | 891 |
|  EQT Corp.<br>3.125%, 5/15/26 144A | 400000 | 396 |
|  Gray Oak Pipeline LLC<br>2.600%, 10/15/25 144A | 205000 | 205 |
|  HF Sinclair Corp.<br>5.750%, 1/15/31 | 455000 | 471 |
|  Kinder Morgan, Inc.<br>5.150%, 6/1/30 | 460000 | 474 |
|  MPLX LP<br>4.800%, 2/15/31 | 1505000 | 1514 |
|  Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/27 | 166000 | 168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/29 | 230000 | 233 |
|  ONEOK, Inc. 4.250%, 9/24/27 | 785000 | 786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 7/15/26 | 944000 | 947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 11/1/26 | 410000 | 415 |
|  Ovintiv, Inc.<br>5.375%, 1/1/26 | 210000 | 210 |
|  Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/15/28 | 164000 | 164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/30/26 | 326000 | 327 |
|  Schlumberger Holdings Corp.<br>3.900%, 5/17/28 144A | 740000 | 737 |
|  Schlumberger Investment SA<br>4.500%, 5/15/28 | 409000 | 412 |
|  South Bow USA Infrastructure Holdings LLC<br>4.911%, 9/1/27 | 560000 | 565 |
|  Targa Resources Corp.<br>5.200%, 7/1/27 | 184000 | 187 |
|  Tengizchevroil Finance Co. International, Ltd.<br>4.000%, 8/15/26 § | 800000 | 795 |
|  Valero Energy Corp.<br>5.150%, 2/15/30 | 180000 | 185 |
|  The Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/30/30 | 550000 | 555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 11/15/29 | 330000 | 336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/2/26 | 1060000 | 1065 |
|  Woodside Finance, Ltd.<br>3.700%, 9/15/26 144A | 229000 | 228 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **15547** |
|  **Financial (13.5%)** |  |  |
|  Abu Dhabi Development Holding Co. PJSC<br>4.500%, 5/6/30 § | 765000 | 774 |

---

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Financial continued** |  |  |
|  AerCap Ireland Capital DAC / AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 1/15/27 | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 4/15/27 | 842000 | 868 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.731%, (US SOFR plus 1.260%), 4/25/29 α | 625000 | 635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.043%, (US SOFR plus 0.930%), 7/26/28 α | 350000 | 356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.098%, (US SOFR plus 1.000%), 2/16/28 α | 215000 | 218 |
|  American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 4/15/26 | 931000 | 918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 7/15/27 | 379000 | 375 |
|  Aspen Insurance Holdings, Ltd.<br>5.750%, 7/1/30 | 255000 | 267 |
|  Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 8/27/26 144A | 440000 | 443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.349%, 7/9/27 144A | 430000 | 438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.684%, 2/23/26 144A | 550000 | 552 |
|  Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/21/26 144A | 245000 | 242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/29 144A | 390000 | 404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5/4/28 144A | 185000 | 193 |
|  Banco Santander SA<br>5.552%, (US Treasury Yield Curve Rate<br>T Note Constant Maturity 1 Year plus 1.250%), 3/14/28 α | 400000 | 407 |
|  Bank Mandiri Persero Tbk PT<br>5.500%, 4/4/26 § | 970000 | 976 |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.734%, (US SOFR plus 0.960%), 7/22/27 α | 415000 | 407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.623%, (US SOFR plus 1.110%), 5/9/29 α | 760000 | 769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.080%, (US SOFR plus 1.290%), 1/20/27 α | 395000 | 396 |
|  The Bank of New York Mellon Corp.<br>4.729%, (US SOFR plus 1.135%), 4/20/29 α | 560000 | 569 |
|  Banque Federative du Credit Mutuel SA<br>4.935%, 1/26/26 144A | 400000 | 401 |
|  Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.476%, (US SOFR plus 1.080%), 11/11/29 α | 335000 | 336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.086%, (US SOFR plus 0.960%), 2/25/29 α | 555000 | 565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.325%, (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year plus<br>3.050%), 11/2/26 α | 390000 | 391 |
|  BNP Paribas SA<br>4.792%, (US SOFR plus 1.450%), 5/9/29 144A α | 935000 | 944 |
|  Brighthouse Financial Global Funding<br>1.550%, 5/24/26 144A | 145000 | 142 |
|  Brown & Brown, Inc.<br>4.700%, 6/23/28 | 215000 | 217 |
|  CaixaBank SA<br>6.684%, (US SOFR plus 2.080%), 9/13/27 144A α | 615000 | 628 |
|  Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.312%, (US SOFR plus 2.640%), 6/8/29 α | 255000 | 267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.149%, (US SOFR plus 2.440%), 10/29/27 α | 240000 | 247 |
|  CBRE Services, Inc.<br>4.800%, 6/15/30 | 210000 | 213 |
|  The Charles Schwab Corp.<br>2.450%, 3/3/27 | 906000 | 886 |

---

**3** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Financial continued** |  |  |
|  Citigroup, Inc.<br>5.174%, (US SOFR plus 1.364%), 2/13/30 α | 375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 |
|  CNO Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/7/26 144A | 830000 | 810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/10/27 144A | 218000 | 221 |
|  Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/21/28 144A | 400000 | 400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 8/20/27 144A | 205000 | 207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 1/12/29 144A | 185000 | 190 |
|  Credit Agricole SA<br>5.230%, (US SOFR plus 1.130%), 1/9/29 144A α | 580000 | 591 |
|  Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.050%, 7/15/26 | 615000 | 600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/15/27 | 580000 | 569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 2/15/29 | 80000 | 80 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 2/15/26 | 570000 | 570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/1/28 | 395000 | 401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/11/28 | 285000 | 289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 6/1/29 | 295000 | 307 |
|  Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.613%, (US Treasury Yield Curve Rate<br>T Note Constant Maturity 1 Year plus 1.100%), 10/2/30 144A α | 385000 | 387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.427%, (US Treasury Yield Curve Rate<br>T Note Constant Maturity 1 Year plus 0.950%), 3/1/28 144A α | 390000 | 397 |
|  Equitable America Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 9/15/27 144A | 155000 | 155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 6/9/28 144A | 465000 | 470 |
|  Equitable Financial Life Global Funding<br>1.700%, 11/12/26 144A | 305000 | 297 |
|  Extra Space Storage LP<br>3.875%, 12/15/27 | 255000 | 253 |
|  Fortitude Global Funding<br>4.625%, 10/6/28 144A | 390000 | 390 |
|  Fortitude Group Holdings LLC<br>6.250%, 4/1/30 144A | 640000 | 664 |
|  GA Global Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 9/23/27 144A | 395000 | 396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 1/13/30 144A | 535000 | 554 |
|  The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.482%, (US SOFR plus 1.725%), 8/23/28 α | 390000 | 392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, (US SOFR plus 1.319%), 4/23/28 α | 1060000 | 1072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.218%, (US SOFR plus 1.580%), 4/23/31 α | 590000 | 610 |
|  HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.899%, (US SOFR plus 1.030%), 3/3/29 α | 500000 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.130%, (US SOFR plus 1.040%), 11/19/28 α | 565000 | 575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.597%, (US SOFR plus 1.060%), 5/17/28 α | 320000 | 327 |
|  ING Groep NV<br>4.858%, (US SOFR plus 1.010%), 3/25/29 α | 575000 | 583 |
|  Intercontinental Exchange, Inc.<br>3.625%, 9/1/28 | 389000 | 384 |
|  Jackson National Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/13/27 144A | 435000 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 7/2/27 144A | 355000 | 363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 4/10/26 144A | 615000 | 619 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.979%, (US SOFR plus 0.930%), 7/22/28 α | 395000 | 401 |

---

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Financial continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.040%, (US SOFR plus 1.190%), 1/23/28 α | 375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.103%, (US SOFR plus 1.435%), 4/22/31 α | 445000 | 460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.236%, (US SOFR plus 0.885%), 4/22/27 | 350000 | 351 |
|  Lloyds Banking Group PLC<br>5.462%, (US Treasury Yield Curve Rate<br>T Note Constant Maturity 1 Year plus 1.375%), 1/5/28 α | 460000 | 467 |
|  LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/15/27 144A | 115000 | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/3/28 | 250000 | 253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 5/20/27 | 679000 | 692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 11/17/28 | 190000 | 203 |
|  Manufacturers & Traders Trust Co.<br>4.762%, (US SOFR plus 0.950%), 7/6/28 α | 440000 | 444 |
|  Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/14/26 | 105000 | 105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 11/8/27 | 720000 | 728 |
|  MassMutual Global Funding II<br>5.100%, 4/9/27 144A | 1020000 | 1036 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.994%, (US SOFR plus 1.380%), 4/12/29 α | 570000 | 581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.138%, (US SOFR plus 1.770%), 10/16/26 α | 525000 | 525 |
|  Nasdaq, Inc.<br>5.350%, 6/28/28 | 205000 | 211 |
|  Northern Trust Corp.<br>3.950%, 10/30/25 | 330000 | 330 |
|  The PNC Financial Services Group, Inc.<br>4.758%, (US SOFR Index plus 1.085%), 1/26/27 α | 575000 | 576 |
|  Prologis LP<br>3.875%, 9/15/28 | 190000 | 189 |
|  QNB Finance, Ltd.<br>1.375%, 1/26/26 § | 820000 | 812 |
|  Realty Income Corp.<br>5.050%, 1/13/26 | 140000 | 140 |
|  Reinsurance Group of America, Inc.<br>3.950%, 9/15/26 | 428000 | 428 |
|  RGA Global Funding<br>4.350%, 8/25/28 144A | 635000 | 636 |
|  Sammons Financial Group Global Funding<br>5.050%, 1/10/28 144A | 275000 | 280 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.490%, (US SOFR plus 1.249%), 1/6/28 α | 410000 | 400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.124%, (US SOFR plus 1.232%), 5/31/27 α | 80000 | 81 |
|  Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.673%, (US SOFR plus 0.989%), 6/14/27 α | 220000 | 216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.320%, (US SOFR Index plus 1.070%), 9/22/29 α | 285000 | 284 |
|  SBA Tower Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.631%, 5/15/51 144A | 575000 | 558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.884%, 1/15/26 144A | 290000 | 288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.328%, 7/15/52 144A | 225000 | 214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.831%, 10/15/29 144A | 1125000 | 1132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.599%, 11/15/52 144A | 619000 | 636 |
|  Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.249%, (US SOFR plus 1.420%), 5/22/29 144A α | 505000 | 513 |

---

**4** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Financial continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.519%, (US Treasury Yield Curve Rate<br>T Note Constant Maturity 1 Year plus 1.500%), 1/19/28 144A α | 365000 | 370 |
|  Standard Chartered PLC<br>5.688%, (US Treasury Yield Curve Rate<br>T Note Constant Maturity 1 Year plus 1.050%), 5/14/28 144A α | 390000 | 398 |
|  State Bank of India<br>1.800%, 7/13/26 § | 1050000 | 1030 |
|  UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.494%, (US Treasury Yield Curve Rate<br>T Note Constant Maturity 1 Year plus 0.850%), 8/10/27 144A α | 215000 | 210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.327%, (US Treasury Yield Curve Rate<br>T Note Constant Maturity 1 Year plus 1.600%), 12/22/27 144A α | 425000 | 436 |
|  US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.548%, (US SOFR plus 1.660%), 7/22/28 α | 590000 | 594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.727%, (US SOFR plus 1.430%), 10/21/26 α | 320000 | 320 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, (US SOFR plus 0.780%), 1/24/28 α | 730000 | 737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.970%, (US SOFR plus 1.370%), 4/23/29 α | 1545000 | 1574 |
|  The Western Union Co<br>. 1.350%, 3/15/26 | 1401000 | 1381 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **52888** |
|  **Industrial (3.5%)** |  |  |
|  Amphenol Corp.<br>4.750%, 3/30/26 | 205000 | 206 |
|  Amrize Finance US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 4/7/28 144A | 550000 | 556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 4/7/30 144A | 205000 | 210 |
|  BAE Systems PLC<br>5.000%, 3/26/27 144A | 450000 | 455 |
|  The Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.196%, 2/4/26 | 330000 | 328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/1/29 | 420000 | 405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.259%, 5/1/27 | 807000 | 830 |
|  Canadian Pacific Railway Co.<br>1.750%, 12/2/26 | 315000 | 307 |
|  Caterpillar Financial Services Corp.<br>4.600%, 11/15/27 | 1035000 | 1051 |
|  FedEx Corp.<br>3.250%, 4/1/26 | 913000 | 909 |
|  Fortive Corp.<br>3.150%, 6/15/26 | 538000 | 534 |
|  GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 9/15/26 | 360000 | 357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 3/30/27 | 213000 | 212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/15/27 | 390000 | 396 |
|  Huntington Ingalls Industries, Inc.<br>5.353%, 1/15/30 | 155000 | 160 |
|  Keysight Technologies, Inc.<br>5.350%, 7/30/30 | 390000 | 405 |
|  Northrop Grumman Corp.<br>3.250%, 1/15/28 | 300000 | 295 |
|  Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 8/15/26 | 257000 | 255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/15/27 | 340000 | 347 |

---

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Industrial continued** |  |  |
|  Penske Truck Leasing Co. LP / PTL Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 6/15/26 144A | 147000 | 144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 11/15/26 144A | 120000 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 1/12/27 144A | 275000 | 278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5/24/26 144A | 1020000 | 1028 |
|  Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 2/15/26 | 1164000 | 1170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 4/15/28 | 565000 | 584 |
|  Republic Services, Inc.<br>0.875%, 11/15/25 | 120000 | 119 |
|  Rolls-Royce PLC<br>5.750%, 10/15/27 144A | 515000 | 529 |
|  RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 8/1/28 | 355000 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 11/1/28 | 332000 | 354 |
|  Sydney Airport Finance Co. Pty, Ltd.<br>3.625%, 4/28/26 144A | 117000 | 116 |
|  Waste Management, Inc.<br>3.875%, 1/15/29 | 815000 | 810 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **13848** |
|  **Technology (3.6%)** |  |  |
|  Advanced Micro Devices, Inc.<br>4.319%, 3/24/28 | 950000 | 958 |
|  Analog Devices, Inc.<br>1.700%, 10/1/28 | 230000 | 215 |
|  Atlassian Corp.<br>5.250%, 5/15/29 | 215000 | 221 |
|  Booz Allen Hamilton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/1/28 144A | 1005000 | 985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/29 144A | 110000 | 107 |
|  Dell International LLC / EMC Corp.<br>4.750%, 4/1/28 | 540000 | 548 |
|  Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 10/1/28 | 369000 | 369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 2/15/31 | 300000 | 301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/27 | 480000 | 486 |
|  Fortinet, Inc.<br>1.000%, 3/15/26 | 675000 | 664 |
|  Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/25/31 144A | 200000 | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 1/25/30 144A | 200000 | 211 |
|  Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/11/27 | 188000 | 185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/5/27 | 325000 | 323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/5/29 | 350000 | 346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/10/28 | 108000 | 110 |
|  International Business Machines Corp.<br>4.650%, 2/10/28 | 1376000 | 1396 |
|  Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 4/15/26 | 255000 | 251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 7/15/30 | 160000 | 162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/22/28 | 780000 | 792 |
|  Micron Technology, Inc.<br>5.375%, 4/15/28 | 1085000 | 1119 |
|  NXP BV / NXP Funding LLC<br>5.350%, 3/1/26 | 75000 | 75 |
|  NXP BV / NXP Funding LLC / NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/1/27 | 105000 | 103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/18/26 | 405000 | 404 |

---

**5** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Technology continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 8/19/28 | 190000 | 190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 6/18/29 | 470000 | 470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 6/1/27 | 80000 | 80 |
|  Oracle Corp.<br>4.450%, 9/26/30 | 715000 | 715 |
|  Synopsys, Inc.<br>4.650%, 4/1/28 | 1030000 | 1042 |
|  Take-Two Interactive Software, Inc.<br>5.000%, 3/28/26 | 585000 | 587 |
|  Western Digital Corp.<br>4.750%, 2/15/26 | 215000 | 215 |
|  Workday, Inc.<br>3.500%, 4/1/27 | 265000 | 263 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **14101** |
|  **Utilities (3.0%)** |  |  |
|  American Electric Power Co., Inc.<br>5.200%, 1/15/29 | 675000 | 696 |
|  Appalachian Power Co.<br>3.300%, 6/1/27 | 854000 | 842 |
|  Constellation Energy Generation LLC<br>5.600%, 3/1/28 | 315000 | 326 |
|  DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/1/28 | 430000 | 437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 7/1/27 | 295000 | 299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/1/30 | 410000 | 422 |
|  Duke Energy Corp.<br>4.300%, 3/15/28 | 280000 | 281 |
|  Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 7/12/26 144A | 645000 | 632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/30/28 144A | 200000 | 199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.050%, 10/14/25 144A | 400000 | 400 |
|  Exelon Corp.<br>5.150%, 3/15/29 | 200000 | 206 |
|  FirstEnergy Corp.<br>3.900%, 7/15/27 | 678000 | 674 |
|  FirstEnergy Transmission LLC<br>4.550%, 1/15/30 | 155000 | 156 |
|  National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.120%, 9/16/27 | 241000 | 242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/15/28 | 421000 | 429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 5/6/27 | 316000 | 321 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 1/15/27 | 685000 | 666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.685%, 9/1/27 | 135000 | 136 |
|  Niagara Mohawk Power Corp.<br>4.647%, 10/3/30 144A | 345000 | 347 |
|  NiSource, Inc.<br>5.250%, 3/30/28 | 130000 | 133 |
|  Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 1/1/26 | 285000 | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 3/15/27 | 140000 | 138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 12/1/27 | 175000 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/4/28 | 265000 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/15/27 | 70000 | 71 |
|  Public Service Enterprise Group, Inc.<br>4.900%, 3/15/30 | 690000 | 705 |
|  Sempra<br>5.400%, 8/1/26 | 270000 | 272 |

---

---

| | | |
|:---|:---|:---|
| Corporate Bonds (44.7%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Utilities continued** |  |  |
|  Southern California Gas Co.<br>2.950%, 4/15/27 | 410000 | 404 |
|  The Southern Co.<br>5.113%, 8/1/27 | 350000 | 356 |
|  Southern Co. Gas Capital Corp.<br>4.050%, 9/15/28 | 360000 | 360 |
|  Southern Power Co.<br>4.250%, 10/1/30 | 180000 | 179 |
|  Terraform Global Operating LP<br>6.125%, 3/1/26 144A | 352000 | 348 |
|  Trans-Allegheny Interstate Line Co.<br>5.000%, 1/15/31 144A | 100000 | 103 |
|  Vistra Operations Co. LLC<br>5.050%, 12/30/26 144A | 328000 | 330 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **11834** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds (Cost: $173,929)** |  | **175703** |
| Governments (21.3%) |  |  |
|  **Governments (21.3%)** |  |  |
|  Eagle Funding Luxco SARL<br>5.500%, 8/17/30 144A | 680000 | 690 |
|  Korea Electric Power Corp.<br>5.375%, 4/6/26 144A | 1000000 | 1006 |
|  Korea Housing Finance Corp.<br>4.625%, 2/24/28 144A | 960000 | 973 |
|  Korea Hydro & Nuclear Power Co., Ltd.<br>5.000%, 7/18/28 144A | 250000 | 256 |
|  Saudi Government International Bond<br>5.125%, 1/13/28 144A | 560000 | 572 |
|  US Treasury |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/27 | 25490000 | 25489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/30/27 | 16755000 | 16778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/27 | 27000000 | 27048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/31/27 ß | 3165000 | 3176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/15/28 | 7815000 | 7866 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **83854** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Governments (Cost: $83,626)** |  | **83854** |
| Structured Products (31.3%) |  |  |
|  **Asset Backed Securities (16.2%)** |  |  |
|  Affirm Master Trust, Series 2025-2A, Class A<br>4.670%, 7/15/33 144A | 335000 | 337 |
|  Affirm Master Trust, Series 2025-2A, Class B<br>5.060%, 7/15/33 144A | 355000 | 357 |
|  Affirm Master Trust, Series 2025-3A, Class A<br>4.450%, 10/16/34 144A | 145000 | 145 |
|  Alinea CLO, Ltd., Series 2018-1A, Class AR<br>5.225%, (US SOFR 3 Month plus 0.900%), 7/20/31 144A | 93635 | 94 |
|  Alinea CLO, Ltd., Series 2018-1A, Class BR<br>5.475%, (US SOFR 3 Month plus 1.150%), 7/20/31 144A | 250000 | 250 |
|  Ally Auto Receivables Trust, Series 2023-A, Class B<br>6.010%, 1/17/34 144A | 19876 | 20 |
|  Ally Auto Receivables Trust, Series 2023-A, Class C<br>6.080%, 1/17/34 144A | 165680 | 168 |

---

**6** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class C<br>6.022%, 5/17/32 144A | 135354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 |
|  Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class A2<br>4.970%, 9/15/32 144A | 164521 | 166 |
|  Ally Bank Auto Credit-Linked Notes, Series 2024-B, Class C<br>5.215%, 9/15/32 144A | 164521 | 165 |
|  Ally Bank Auto Credit-Linked Notes, Series 2025-A, Class B<br>4.648%, 6/15/33 144A | 232341 | 233 |
|  AmeriCredit Automobile Receivables Trust, Series 2021-2, Class D<br>1.290%, 6/18/27 | 575000 | 570 |
|  AmeriCredit Automobile Receivables Trust, Series 2023-1, Class C<br>5.800%, 12/18/28 | 380000 | 387 |
|  Amur Equipment Finance Receivables X LLC, Series 2022-1A, Class E<br>5.020%, 12/20/28 144A | 415000 | 415 |
|  Anthelion CLO, Ltd., Series 2025-1A, Class A1<br>5.819%, (US SOFR 3 Month plus 1.500%), 7/20/36 144A | 390000 | 391 |
|  Arbys Funding LLC, Series 2020-1A, Class A2<br>3.237%, 7/30/50 144A | 997500 | 963 |
|  ARI Fleet Lease Trust, Series 2024-B, Class A2<br>5.540%, 4/15/33 144A | 282660 | 285 |
|  Auxilior Term Funding LLC, Series 2023-1A, Class A2<br>6.180%, 12/15/28 144A | 217577 | 219 |
|  Auxilior Term Funding LLC, Series 2023-1A, Class D<br>7.270%, 12/16/30 144A | 370000 | 388 |
|  Auxilior Term Funding LLC, Series 2024-1A, Class A3<br>5.490%, 7/15/31 144A | 240000 | 245 |
|  Avis Budget Rental Car Funding AESOP LLC, Series 2022-5A, Class C<br>6.240%, 4/20/27 144A | 165000 | 166 |
|  Avis Budget Rental Car Funding AESOP LLC, Series 2023-2A, Class C<br>6.180%, 10/20/27 144A | 120000 | 121 |
|  Avis Budget Rental Car Funding AESOP LLC, Series 2025-3A, Class B<br>4.460%, 2/20/30 144A | 100000 | 100 |
|  Avis Budget Rental Car Funding AESOP LLC, Series 2025-3A, Class D<br>7.320%, 2/20/28 144A | 105000 | 107 |
|  Battalion CLO XII, Ltd., Series 2018-12A, Class CRR<br>5.735%, (US SOFR 3 Month plus 1.550%), 5/17/31 144A | 250000 | 250 |
|  Battalion CLO XV, Ltd., Series 2020-15A, Class A1RR<br>5.302%, (US SOFR 3 Month plus 0.980%), 1/17/33 144A | 1433277 | 1433 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Battalion CLO XXI, Ltd., Series 2021-21A, Class BR<br>6.018%, (US SOFR 3 Month plus 1.700%), 7/15/34 144A | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 |
|  Bayview Opportunity Master Fund VII, Series 2024-CAR1, Class A<br>5.456%, (US 30 Day Average SOFR plus 1.100%), 12/26/31 144A | 122820 | 123 |
|  Bayview Opportunity Master Fund VII, Series 2025-EDU1, Class A<br>5.633%, (US 30 Day Average SOFR plus 1.300%), 7/27/48 144A Æ | 250000 | 250 |
|  Bayview Opportunity Master Fund VII, Series 2025-EDU1, Class B<br>6.033%, (US 30 Day Average SOFR plus 1.700%), 7/27/48 144A Æ | 470000 | 470 |
|  Blue Owl Asset Leasing Trust LLC, Series 2024-1A, Class A2<br>5.050%, 3/15/29 144A | 272306 | 273 |
|  Blue Owl Asset Leasing Trust LLC, Series 2024-1A, Class B<br>5.410%, 3/15/30 144A | 110000 | 111 |
|  BlueMountain CLO, Ltd., Series 2018-3A, Class A1R<br>5.508%, (US SOFR 3 Month plus 1.190%), 10/25/30 144A | 274092 | 274 |
|  BRE Grand Islander Timeshare Issuer LLC, Series 2019-A, Class A<br>3.280%, 9/26/33 144A | 116633 | 115 |
|  CarMax Auto Owner Trust, Series 2023-2, Class C<br>5.570%, 11/15/28 | 585000 | 595 |
|  CarMax Auto Owner Trust, Series 2023-2, Class D<br>6.550%, 10/15/29 | 390000 | 401 |
|  CarMax Auto Owner Trust, Series 2023-3, Class C<br>5.610%, 2/15/29 | 655000 | 669 |
|  CarMax Auto Owner Trust, Series 2023-3, Class D<br>6.440%, 12/16/30 | 210000 | 216 |
|  CarMax Auto Owner Trust, Series 2024-1, Class C<br>5.470%, 8/15/29 | 290000 | 296 |
|  CarMax Auto Owner Trust, Series 2024-2, Class D<br>6.420%, 10/15/30 | 100000 | 104 |
|  CarMax Auto Owner Trust, Series 2024-3, Class D<br>5.670%, 1/15/31 | 125000 | 128 |
|  CarMax Select Receivables Trust, Series 2024-A, Class B<br>5.350%, 1/15/30 | 135000 | 137 |
|  CarMax Select Receivables Trust, Series 2024-A, Class C<br>5.620%, 1/15/30 | 570000 | 581 |
|  Carvana Auto Receivables Trust, Series 2024-N2, Class B<br>5.670%, 9/10/30 144A | 405000 | 411 |

---

**7** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Chase Auto Credit Linked Notes, Series 2025-1, Class B<br>4.753%, 2/25/33 144A | 319768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 |
|  Clarus Capital Funding LLC, Series 2024-1A, Class A2<br>4.710%, 8/20/32 144A | 61125 | 61 |
|  Clarus Capital Funding LLC, Series 2024-1A, Class B<br>4.790%, 8/20/32 144A | 155000 | 155 |
|  CNH Equipment Trust, Series 2024-B, Class A3<br>5.190%, 9/17/29 | 245000 | 249 |
|  CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2<br>4.500%, 5/20/49 144A | 755000 | 742 |
|  Dell Equipment Finance Trust, Series 2023-3, Class D<br>6.750%, 10/22/29 144A | 100000 | 101 |
|  Dell Equipment Finance Trust, Series 2024-1, Class D<br>6.120%, 9/23/30 144A | 100000 | 102 |
|  Dell Equipment Finance Trust, Series 2024-2, Class B<br>4.820%, 8/22/30 144A | 100000 | 101 |
|  Dell Equipment Finance Trust, Series 2024-2, Class D<br>5.290%, 2/24/31 144A | 410000 | 414 |
|  Dell Equipment Finance Trust, Series 2025-1, Class C<br>5.250%, 2/24/31 144A | 100000 | 102 |
|  DLLAA LLC, Series 2023-1A, Class A3<br>5.640%, 2/22/28 144A | 376109 | 381 |
|  DLLST LLC, Series 2024-1A, Class A3<br>5.050%, 8/20/27 144A | 132440 | 133 |
|  DLLST LLC, Series 2024-1A, Class A4<br>4.930%, 4/22/30 144A | 40000 | 40 |
|  Drive Auto Receivables Trust, Series 2025-2, Class C<br>4.390%, 9/15/32 | 195000 | 195 |
|  Driven Brands Funding LLC, Series 2019-1A, Class A2<br>4.641%, 4/20/49 144A | 355779 | 356 |
|  Dryden Senior Loan Fund, Series 2016-45A, Class BRR<br>5.968%, (US SOFR 3 Month plus 1.650%), 10/15/30 144A | 515000 | 516 |
|  Elara HGV Timeshare Issuer LLC, Series 2019-A, Class A<br>2.610%, 1/25/34 144A | 55364 | 55 |
|  Elara HGV Timeshare Issuer LLC, Series 2023-A, Class A<br>6.160%, 2/25/38 144A | 101406 | 105 |
|  Elara HGV Timeshare Issuer LLC, Series 2023-A, Class C<br>7.300%, 2/25/38 144A | 139236 | 144 |
|  Enterprise Fleet Financing LLC, Series 2023-2, Class A2<br>5.560%, 4/22/30 144A | 236257 | 238 |
|  Enterprise Fleet Financing LLC, Series 2024-3, Class A3<br>4.980%, 8/21/28 144A | 150000 | 152 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Enterprise Fleet Financing LLC, Series 2024-3, Class A4<br>5.060%, 3/20/31 144A | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 |
|  Exeter Automobile Receivables Trust, Series 2022-3A, Class C<br>5.300%, 9/15/27 | 10847 | 11 |
|  Exeter Automobile Receivables Trust, Series 2022-4A, Class D<br>5.980%, 12/15/28 | 883480 | 891 |
|  Exeter Automobile Receivables Trust, Series 2022-5A, Class C<br>6.510%, 12/15/27 | 199078 | 199 |
|  Exeter Automobile Receivables Trust, Series 2023-1A, Class D<br>6.690%, 6/15/29 | 80000 | 82 |
|  Exeter Automobile Receivables Trust, Series 2025-4A, Class B<br>4.400%, 5/15/30 | 135000 | 136 |
|  Exeter Automobile Receivables Trust, Series 2025-4A, Class C<br>4.570%, 6/16/31 | 480000 | 480 |
|  Exeter Select Automobile Receivables Trust, Series 2025-1, Class B<br>4.870%, 8/15/31 | 255000 | 258 |
|  Exeter Select Automobile Receivables Trust, Series 2025-2, Class B<br>4.630%, 11/17/31 | 140000 | 141 |
|  Exeter Select Automobile Receivables Trust, Series 2025-2, Class C<br>4.910%, 12/15/31 | 285000 | 287 |
|  Finance of America HECM Buyout, Series 2024-HB1, Class A1A<br>4.000%, (AFC), 10/1/34 144A | 435805 | 434 |
|  FirstKey Homes Trust, Series 2020-SFR2, Class D<br>1.968%, 10/19/37 144A | 655000 | 652 |
|  Ford Credit Auto Lease Trust, Series 2023-B, Class C<br>6.430%, 4/15/27 | 285000 | 288 |
|  Ford Credit Auto Owner Trust, Series 2020-2, Class C<br>1.740%, 4/15/33 144A | 310000 | 310 |
|  Ford Credit Auto Owner Trust, Series 2023-A, Class B<br>5.070%, 1/15/29 | 905000 | 916 |
|  Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class B<br>5.310%, 5/15/28 144A | 155000 | 156 |
|  Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class C<br>5.750%, 5/15/28 144A | 245000 | 247 |
|  Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class D<br>6.620%, 5/15/28 144A | 440000 | 444 |
|  Ford Credit Floorplan Master Owner Trust, Series 2024-1, Class B<br>5.480%, 4/15/29 144A | 280000 | 284 |
|  Fortress Credit BSL VII, Ltd., Series 2019-1A, Class A1R<br>5.409%, (US SOFR 3 Month plus 1.090%), 7/23/32 144A | 144847 | 145 |

---

**8** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Fortress Credit BSL VII, Ltd., Series 2019-1A, Class A2R<br>5.719%, (US SOFR 3 Month plus 1.400%), 7/23/32 144A | 460000 | 461 |
|  Fortress Credit BSL VII, Ltd., Series 2019-1A, Class BR<br>5.969%, (US SOFR 3 Month plus 1.650%), 7/23/32 144A | 585000 | 585 |
|  Fortress Credit BSL VIII, Ltd., Series 2019-2A, Class A1AR<br>5.375%, (US SOFR 3 Month plus 1.050%), 10/20/32 144A | 222516 | 223 |
|  Fortress Credit BSL VIII, Ltd., Series 2019-2A, Class A2R<br>5.725%, (US SOFR 3 Month plus 1.400%), 10/20/32 144A | 570000 | 571 |
|  Fortress Credit BSL XV, Ltd., Series 2022-2A, Class AR<br>5.729%, (US SOFR 3 Month plus 1.400%), 10/18/33 144A | 460000 | 462 |
|  Fortress Credit BSL XVIII, Ltd., Series 2023-1A, Class A1R<br>5.889%, (US SOFR 3 Month plus 1.570%), 4/23/36 144A | 250000 | 251 |
|  Frontier Issuer LLC, Series 2023-1, Class C<br>11.500%, 8/20/53 144A | 475000 | 495 |
|  Frontier Issuer LLC, Series 2024-1, Class A2<br>6.190%, 6/20/54 144A | 110000 | 113 |
|  GM Financial Consumer Automobile Receivables Trust, Series 2023-1, Class B 5.030%, 9/18/28 | 155000 | 157 |
|  GMF Floorplan Owner Revolving Trust, Series 2024-4A, Class A1<br>4.730%, 11/15/29 144A | 215000 | 218 |
|  GMF Floorplan Owner Revolving Trust, Series 2024-4A, Class B<br>4.980%, 11/15/29 144A | 525000 | 531 |
|  Hardee's Funding LLC, Series 2018-1A, Class A23<br>5.710%, 6/20/48 144A | 265050 | 264 |
|  Hardee's Funding LLC, Series 2020-1A, Class A2<br>3.981%, 12/20/50 144A | 1071563 | 1033 |
|  Hardee's Funding LLC, Series 2021-1A, Class A2<br>2.865%, 6/20/51 144A | 138838 | 129 |
|  Hilton Grand Vacations Trust, Series 2020-AA, Class A<br>2.740%, 2/25/39 144A | 98727 | 97 |
|  Hilton Grand Vacations Trust, Series 2022-1D, Class A<br>3.610%, 6/20/34 144A | 62508 | 62 |
|  Hilton Grand Vacations Trust, Series 2023-1A, Class B<br>6.110%, 1/25/38 144A | 332284 | 341 |
|  Hilton Grand Vacations Trust, Series 2023-1A, Class C<br>6.940%, 1/25/38 144A | 62053 | 64 |
|  Hilton Grand Vacations Trust, Series 2025-1A, Class A<br>4.880%, 5/27/42 144A | 201784 | 204 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Hilton Grand Vacations Trust, Series 2025-1A, Class B 5.180%, 5/27/42 144A | 343463 | 347 |
|  Home Partners of America Trust, Series 2022-1, Class A 3.930%, 4/17/39 144A | 319808 | 318 |
|  HPEFS Equipment Trust, Series 2023-1A, Class C<br>5.910%, 4/20/28 144A | 355000 | 356 |
|  HPEFS Equipment Trust, Series 2023-2A, Class C<br>6.480%, 1/21/31 144A | 125000 | 126 |
|  HPEFS Equipment Trust, Series 2023-2A, Class D<br>6.970%, 7/21/31 144A | 125000 | 127 |
|  HPEFS Equipment Trust, Series 2024-1A, Class C<br>5.330%, 6/20/31 144A | 680000 | 685 |
|  HPEFS Equipment Trust, Series 2024-2A, Class B<br>5.350%, 10/20/31 144A | 100000 | 101 |
|  HPEFS Equipment Trust, Series 2024-2A, Class D<br>5.820%, 4/20/32 144A | 205000 | 210 |
|  Huntington Bank Auto Credit-Linked Notes, Series 2024-1, Class B1<br>6.153%, 5/20/32 144A | 338114 | 344 |
|  Huntington Bank Auto Credit-Linked Notes, Series 2024-2, Class B1<br>5.442%, 10/20/32 144A | 393609 | 397 |
|  Huntington Bank Auto Credit-Linked Notes, Series 2025-1, Class B<br>4.957%, 3/21/33 144A | 525428 | 529 |
|  Hyundai Auto Lease Securitization Trust, Series 2025-B, Class A3<br>4.530%, 4/17/28 144A | 205000 | 207 |
|  Hyundai Auto Lease Securitization Trust, Series 2025-B, Class B<br>4.940%, 8/15/29 144A | 425000 | 431 |
|  Jack in the Box Funding LLC, Series 2022-1A, Class A2I<br>3.445%, 2/26/52 144A | 385950 | 375 |
|  KKR Financial CLO, Ltd., Series 2025-18, Class A1R2<br>5.191%, (US SOFR 3 Month plus 1.050%), 10/18/35 144A | 1570000 | 1571 |
|  Madison Park Funding XLII, Ltd., Series 13A, Class AR<br>5.469%, (US SOFR 3 Month plus 1.150%), 11/21/30 144A | 256536 | 257 |
|  Madison Park Funding XXIII, Ltd., Series 2017-23A, Class AR<br>5.545%, (US SOFR 3 Month plus 1.232%), 7/27/31 144A | 387867 | 388 |
|  Madison Park Funding XXIII, Ltd., Series 2017-23A, Class BR<br>6.125%, (US SOFR 3 Month plus 1.812%), 7/27/31 144A | 710000 | 710 |

---

**9** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Madison Park Funding XXXIII, Ltd., Series 2019-33A, Class AR<br>5.608%, (US SOFR 3 Month plus 1.290%), 10/15/32 144A | 1018384 | 1018 |
|  Marble Point CLO XIV, Ltd., Series 2018-2A, Class A12R<br>5.525%, (US SOFR 3 Month plus 1.200%), 1/20/32 144A | 932471 | 930 |
|  Marble Point CLO XV, Ltd., Series 2019-1A, Class A1R2<br>5.359%, (US SOFR 3 Month plus 1.040%), 7/23/32 144A | 629653 | 627 |
|  MMAF Equipment Finance LLC, Series 2021-A, Class A5<br>1.190%, 11/13/43 144A | 100000 | 99 |
|  MVW Owner Trust, Series 2019-2A, Class A<br>2.440%, 10/20/38 144A | 26562 | 26 |
|  MVW Owner Trust, Series 2020-1A, Class A<br>1.740%, 10/20/37 144A | 133914 | 131 |
|  MVW Owner Trust, Series 2020-1A, Class B<br>2.730%, 10/20/37 144A | 74710 | 73 |
|  MVW Owner Trust, Series 2021-1WA, Class B<br>1.440%, 1/22/41 144A | 22979 | 22 |
|  MVW Owner Trust, Series 2021-1WA, Class C<br>1.940%, 1/22/41 144A | 34008 | 33 |
|  MVW Owner Trust, Series 2023-1A, Class A<br>4.930%, 10/20/40 144A | 346879 | 350 |
|  MVW Owner Trust, Series 2023-2A, Class A<br>6.180%, 11/20/40 144A | 73917 | 76 |
|  MVW Owner Trust, Series 2023-2A, Class B<br>6.330%, 11/20/40 144A | 56464 | 58 |
|  Navient Private Education Refi Loan Trust, Series 2019-A, Class A2A<br>3.420%, 1/15/43 144A | 37391 | 37 |
|  Navient Private Education Refi Loan Trust, Series 2019-D, Class A2A<br>3.010%, 12/15/59 144A | 105813 | 103 |
|  Navient Private Education Refi Loan Trust, Series 2019-EA, Class A2A<br>2.640%, 5/15/68 144A | 106453 | 105 |
|  Navient Private Education Refi Loan Trust, Series 2019-GA, Class A<br>2.400%, 10/15/68 144A | 186295 | 181 |
|  Navient Private Education Refi Loan Trust, Series 2020-A, Class A2A<br>2.460%, 11/15/68 144A | 135334 | 131 |
|  Navient Private Education Refi Loan Trust, Series 2020-CA, Class A2A<br>2.150%, 11/15/68 144A | 503690 | 484 |
|  Navient Private Education Refi Loan Trust, Series 2020-DA, Class A<br>1.690%, 5/15/69 144A | 91367 | 87 |
|  Navient Private Education Refi Loan Trust, Series 2020-GA, Class A<br>1.170%, 9/16/69 144A | 58817 | 55 |
|  Navient Private Education Refi Loan Trust, Series 2020-HA, Class A<br>1.310%, 1/15/69 144A | 27203 | 26 |
|  Navistar Financial Dealer Note Master Trust, Series 2024-1, Class B<br>5.790%, 4/25/29 144A | 50000 | 50 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Navistar Financial Dealer Note Master Trust, Series 2024-1, Class C<br>6.130%, 4/25/29 144A | 75000 | 75 |
|  Nelnet Student Loan Trust, Series 2020-1A, Class A<br>5.012%, (US SOFR 1 Month plus 0.855%), 3/26/68 144A | 62606 | 62 |
|  Nelnet Student Loan Trust, Series 2021-CA, Class AFX<br>1.320%, 4/20/62 144A | 355713 | 333 |
|  Nelnet Student Loan Trust, Series 2021-DA, Class AFX<br>1.630%, 4/20/62 144A | 122412 | 116 |
|  Neuberger Berman Loan Advisers CLO, Ltd., Series 2021-43A, Class AR<br>5.372%, (US SOFR 3 Month plus 1.050%), 7/17/36 144A | 1205000 | 1206 |
|  NMEF Funding LLC, Series 2025-A, Class A2<br>4.720%, 7/15/32 144A | 260224 | 261 |
|  Northwoods Capital XIV-B, Ltd., Series 2018-14BA, Class AR<br>5.478%, (US SOFR 3 Month plus 1.250%), 11/13/31 144A | 524670 | 525 |
|  Octagon Investment Partners XXI, Ltd., Series 2014-1A, Class A2R4<br>5.383%, (US SOFR 3 Month plus 1.150%), 2/14/31 144A | 570000 | 570 |
|  Octane Receivables Trust, Series 2022-1A, Class B<br>4.900%, 5/22/28 144A | 124811 | 125 |
|  Octane Receivables Trust, Series 2023-1A, Class B<br>5.960%, 7/20/29 144A | 225000 | 227 |
|  Octane Receivables Trust, Series 2023-3A, Class B<br>6.480%, 7/20/29 144A | 135000 | 137 |
|  Octane Receivables Trust, Series 2023-3A, Class C<br>6.740%, 8/20/29 144A | 100000 | 103 |
|  Octane Receivables Trust, Series 2024-3A, Class A2<br>4.940%, 5/20/30 144A | 136654 | 137 |
|  Octane Receivables Trust, Series 2024-3A, Class C<br>5.510%, 10/20/31 144A | 140000 | 143 |
|  Octane Receivables Trust, Series 2024-RVM1, Class A<br>5.010%, 1/22/46 144A | 274611 | 278 |
|  OZLM XXI, Ltd., Series 2017-21A, Class A1R<br>5.475%, (US SOFR 3 Month plus 1.150%), 1/20/31 144A | 150252 | 150 |
|  OZLM Funding II, Ltd., Series 2012-2A, Class AR4<br>5.530%, (US SOFR 3 Month plus 1.200%), 7/30/37 144A | 250000 | 251 |
|  PEAC Solutions Receivables LLC, Series 2025-1A, Class A2<br>4.940%, 10/20/28 144A | 295000 | 297 |
|  PEAC Solutions Receivables LLC, Series 2025-1A, Class A3<br>5.040%, 7/20/32 144A | 240000 | 244 |

---

**10** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Post Road Equipment Finance, Series 2024-1A, Class A2<br>5.590%, 11/15/29 144A | 44295 | 45 |
|  Progress Residential Trust, Series 2021-SFR3, Class F<br>3.436%, 5/17/26 144A | 200000 | 198 |
|  Progress Residential Trust, Series 2021-SFR8, Class C<br>1.931%, 10/17/38 144A | 460000 | 450 |
|  RCKT Mortgage Trust, Series 2024-CES8, Class A1A<br>5.490%, (AFC), 11/25/44 144A ∑ | 547725 | 552 |
|  RCKT Mortgage Trust, Series 2024-CES9, Class A1A<br>5.582%, (AFC), 12/25/44 144A ∑ | 107568 | 109 |
|  Rockford Tower CLO, Ltd., Series 2019-2A, Class AR2<br>5.334%, (US SOFR 3 Month plus 1.130%), 8/20/32 144A | 814297 | 815 |
|  Romark CLO II, Ltd., Series 2018-2A, Class A2R<br>5.968%, (US SOFR 3 Month plus 1.650%), 7/25/31 144A | 1075000 | 1077 |
|  Santander Bank Auto Credit-Linked Notes, Series 2023-B, Class A2<br>5.644%, 12/15/33 144A | 120884 | 123 |
|  Santander Bank Auto Credit-Linked Notes, Series 2023-B, Class D<br>6.663%, 12/15/33 144A | 159523 | 162 |
|  Santander Bank Auto Credit-Linked Notes, Series 2024-A, Class B<br>5.622%, 6/15/32 144A | 185770 | 188 |
|  Santander Bank Auto Credit-Linked Notes, Series 2024-A, Class C<br>5.818%, 6/15/32 144A | 185770 | 188 |
|  Santander Bank Auto Credit-Linked Notes, Series 2024-B, Class B<br>4.965%, 1/18/33 144A | 250000 | 251 |
|  Santander Bank Auto Credit-Linked Notes, Series 2024-B, Class C<br>5.141%, 1/18/33 144A | 250000 | 251 |
|  Santander Consumer Auto Receivables Trust, Series 2021-AA, Class D<br>1.570%, 1/15/27 144A | 180766 | 180 |
|  Santander Drive Auto Receivables Trust, Series 2021-4, Class D<br>1.670%, 10/15/27 | 137256 | 137 |
|  Santander Drive Auto Receivables Trust, Series 2023-1, Class C<br>5.090%, 5/15/30 | 260000 | 262 |
|  SBNA Auto Lease Trust, Series 2024-B, Class A4<br>5.550%, 12/20/28 144A | 540000 | 548 |
|  SCF Equipment Leasing LLC, Series 2023-1A, Class A3<br>6.170%, 5/20/32 144A | 284037 | 288 |
|  SCF Equipment Trust LLC, Series 2016-1, Class A2<br>4.820%, 7/22/30 144A | 209181 | 210 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  SCF Equipment Trust LLC, Series 2016-1, Class A3<br>5.110%, 11/21/33 144A | 300000 | 307 |
|  SEB Funding LLC, Series 2024-1A, Class A2<br>7.386%, 4/30/54 144A | 492000 | 503 |
|  Securitized Term Auto Receivables Trust, Series 2025-A, Class B<br>5.038%, 7/25/31 144A | 138209 | 140 |
|  Securitized Term Auto Receivables Trust, Series 2025-B, Class B<br>4.925%, 12/29/32 144A | 111652 | 113 |
|  Securitized Term Auto Receivables Trust, Series 2025-B, Class C<br>5.121%, 12/29/32 144A | 42943 | 43 |
|  SFS Auto Receivables Securitization Trust, Series 2024-1A, Class A3<br>4.950%, 5/21/29 144A | 144014 | 145 |
|  SFS Auto Receivables Securitization Trust, Series 2024-1A, Class C<br>5.510%, 1/20/32 144A | 55000 | 56 |
|  SFS Auto Receivables Securitization Trust, Series 2024-2A, Class A4<br>5.260%, 8/20/30 144A | 145000 | 149 |
|  Sierra Receivables Funding Co. LLC, Series 2021-2A, Class B<br>1.800%, 9/20/38 144A | 50199 | 50 |
|  Sierra Receivables Funding Co. LLC, Series 2021-2A, Class C<br>1.950%, 9/20/38 144A | 104860 | 103 |
|  Sierra Receivables Funding Co. LLC, Series 2025-2A, Class B<br>4.930%, 4/20/44 144A | 204246 | 206 |
|  SMB Private Education Loan Trust, Series 2018-B, Class A2A<br>3.600%, 1/15/37 144A | 35258 | 35 |
|  SMB Private Education Loan Trust, Series 2018-B, Class A2B<br>4.985%, (US SOFR 1 Month plus 0.835%), 1/15/37 144A | 84368 | 84 |
|  SMB Private Education Loan Trust, Series 2020-B, Class A1A<br>1.290%, 7/15/53 144A | 61602 | 59 |
|  SMB Private Education Loan Trust, Series 2020-PTB, Class A2A<br>1.600%, 9/15/54 144A | 455044 | 431 |
|  SMB Private Education Loan Trust, Series 2021-B, Class A<br>1.310%, 7/17/51 144A | 311695 | 293 |
|  SMB Private Education Loan Trust, Series 2025-A, Class A1A<br>5.130%, 4/15/54 144A | 307503 | 313 |
|  Symphony CLO XXIII, Ltd., Series 2020-23A, Class AR2<br>5.218%, (US SOFR 3 Month plus 0.900%), 1/15/34 144A | 738653 | 739 |
|  Symphony CLO XXVI, Ltd., Series 2021-26A, Class AR<br>5.667%, (US SOFR 3 Month plus 1.342%), 4/20/33 144A | 215106 | 215 |

---

**11** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Asset Backed Securities continued** |  |  |
|  Tricon Residential Trust, Series 2024-SFR2, Class A<br>4.750%, 6/17/40 144A | 279459 | 280 |
|  Tricon Residential Trust, Series 2024-SFR2, Class D<br>6.000%, 6/17/40 144A | 510000 | 517 |
|  Trinitas CLO VI, Ltd., Series 2017-6A, Class ARRR<br>5.648%, (US SOFR 3 Month plus 1.330%), 1/25/34 144A | 460000 | 460 |
|  Trinitas CLO VI, Ltd., Series 2025-6A, Class AR4<br>5.095%, (US SOFR 3 Month plus 1.110%), 1/25/34 144A | 470000 | 470 |
|  Trinitas CLO VII, Ltd., Series 2017-7A, Class A1R2<br>5.378%, (US SOFR 3 Month plus 1.060%), 1/25/35 144A | 250000 | 251 |
|  US Bank NA, Series 2023-1, Class B<br>6.789%, 8/25/32 144A | 70103 | 71 |
|  Verdant Receivables LLC, Series 2023-1A, Class A2<br>6.240%, 1/13/31 144A | 293975 | 299 |
|  Verdant Receivables LLC, Series 2024-1A, Class A2<br>5.680%, 12/12/31 144A | 95904 | 98 |
|  Verizon Master Trust, Series 2024-6, Class B<br>4.420%, 8/20/30 | 710000 | 712 |
|  Wheels Fleet Lease Funding 1 LLC, Series 2023-2A, Class A<br>6.460%, 8/18/38 144A | 387150 | 393 |
|  Wheels Fleet Lease Funding 1 LLC, Series 2024-1A, Class A1<br>5.490%, 2/18/39 144A | 454436 | 460 |
|  Wind River CLO, Ltd., Series 2019-3A, Class AR2<br>5.378%, (US SOFR 3 Month plus 1.060%), 4/15/31 144A | 204469 | 205 |
|  Wingspire Equipment Finance LLC, Series 2025-1A, Class A2<br>4.330%, 9/20/33 144A | 100000 | 100 |
|  Wingspire Equipment Finance LLC, Series 2025-1A, Class C<br>4.760%, 9/20/33 144A | 100000 | 100 |
|  World Omni Auto Receivables Trust, Series 2022-A, Class C<br>2.550%, 9/15/28 | 325000 | 322 |
|  World Omni Select Auto Trust, Series 2021-A, Class D<br>1.440%, 11/15/27 | 180000 | 180 |
|  World Omni Select Auto Trust, Series 2023-A, Class B<br>5.870%, 8/15/28 | 445000 | 449 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **63709** |
|  **Mortgage Securities (15.1%)** |  |  |
|  ALA Trust, Series 2025-OANA, Class A<br>5.894%, (US SOFR 1 Month plus 1.743%), 6/15/40 144A | 260000 | 261 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Mortgage Securities continued** |  |  |
|  Angel Oak Mortgage Trust, Series 2020-3, Class A3<br>2.872%, (AFC), 4/25/65 144A | 29845 | 29 |
|  Angel Oak Mortgage Trust, Series 2021-1, Class A1<br>0.909%, (AFC), 1/25/66 144A | 202328 | 177 |
|  Angel Oak Mortgage Trust, Series 2021-1, Class A2<br>1.115%, (AFC), 1/25/66 144A | 59277 | 52 |
|  Angel Oak Mortgage Trust, Series 2021-2, Class A2<br>1.190%, (AFC), 4/25/66 144A | 63376 | 55 |
|  Angel Oak Mortgage Trust, Series 2025-5, Class A1<br>5.573%, (AFC), 4/25/70 144A ∑ | 994619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004 |
|  BANK, Series 2024-BNK47, Class A1<br>5.523%, 6/15/57 | 81277 | 83 |
|  BANK5, Series 2024-5YR11, Class AS<br>6.139%, 11/15/57 | 325000 | 339 |
|  BANK5, Series 2024-5YR12, Class A3<br>5.902%, (AFC), 12/15/57 | 540000 | 569 |
|  BANK5, Series 2024-5YR12, Class AS<br>6.122%, (AFC), 12/15/57 | 225000 | 235 |
|  BANK5, Series 2024-5YR9, Class A1<br>4.889%, 8/15/57 | 311514 | 314 |
|  Benchmark Mortgage Trust, Series 2024-V11, Class AM<br>6.201%, (AFC), 11/15/57 | 275000 | 288 |
|  Benchmark Mortgage Trust, Series 2024-V8, Class A1<br>5.514%, 7/15/57 | 189057 | 193 |
|  Benchmark Mortgage Trust, Series 2025-B41, Class A1<br>4.401%, 7/15/68 | 189131 | 190 |
|  BFLD Commercial Mortgage Trust, Series 2025-5MW, Class C<br>5.451%, 10/10/42 144A | 155000 | 154 |
|  BINOM Securitization Trust, Series 2021-INV1, Class A3<br>2.625%, (AFC), 6/25/56 144A | 128073 | 118 |
|  BMO Mortgage Trust, Series 2024-5C4, Class A3<br>6.526%, 5/15/57 | 535000 | 570 |
|  BPR Trust, Series 2021-TY, Class B<br>5.415%, (US SOFR 1 Month plus 1.265%), 9/25/38 144A | 450000 | 448 |
|  BX Commercial Mortgage Trust, Series 2024-GPA3, Class B<br>5.792%, (US SOFR 1 Month plus 1.642%), 12/15/39 144A | 287932 | 289 |
|  BX Commercial Mortgage Trust, Series 2024-MDHS, Class A<br>5.791%, (US SOFR 1 Month plus 1.641%), 5/15/41 144A | 380208 | 381 |
|  BX Commercial Mortgage Trust, Series 2024-MDHS, Class B<br>5.991%, (US SOFR 1 Month plus 1.841%), 5/15/41 144A | 380208 | 381 |

---

**12** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Mortgage Securities continued** |  |  |
|  BX Commercial Mortgage Trust, Series 2024-SLCT, Class B<br>5.943%, (US SOFR 1 Month plus 1.793%), 1/15/42 144A | 190000 | 190 |
|  BX Commercial Mortgage Trust, Series 2024-SLCT, Class C<br>6.542%, (US SOFR 1 Month plus 2.392%), 1/15/42 144A | 500000 | 500 |
|  BX Trust, Series 2021-VIEW, Class A<br>5.544%, (US SOFR 1 Month plus 1.395%), 6/15/36 144A | 255000 | 254 |
|  BX Trust, Series 2025-GW, Class A<br>5.750%, (US SOFR 1 Month plus 1.600%), 7/15/42 144A | 590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592 |
|  CENT Trust, Series 2025-CITY, Class A<br>5.091%, (CSTR), 7/10/40 144A | 455000 | 460 |
|  Citigroup Mortgage Loan Trust, Series 2020-EXP2, Class A3<br>2.500%, 8/25/50 144A | 209176 | 180 |
|  Citigroup Mortgage Loan Trust, Series 2020-EXP2, Class A4<br>2.500%, (AFC), 8/25/50 144A | 290522 | 250 |
|  COLT Mortgage Loan Trust, Series 2020-3, Class A1<br>1.506%, (AFC), 4/27/65 144A | 4804 | 5 |
|  COLT Mortgage Loan Trust, Series 2021-1, Class A2<br>1.167%, (AFC), 6/25/66 144A | 183814 | 160 |
|  COLT Mortgage Loan Trust, Series 2024-6, Class A2<br>5.644%, (AFC), 11/25/69 144A ∑ | 518753 | 521 |
|  COLT Mortgage Loan Trust, Series 2024-INV4, Class A3<br>6.111%, (AFC), 5/25/69 144A ∑ | 505780 | 511 |
|  COLT Mortgage Loan Trust, Series 2025-10, Class A1F<br>0(US 30 Day Average SOFR plus 1.200%), (AFC), 10/25/70 144A | 375000 | 375 |
|  COLT Mortgage Loan Trust, Series 2025-4, Class A1<br>5.794%, (AFC), 4/25/70 144A ∑ | 205682 | 208 |
|  COLT Mortgage Loan Trust, Series 2025-INV2, Class A1<br>5.601%, (AFC), 2/25/70 144A ∑ | 390023 | 394 |
|  COMM Mortgage Trust, Series 2014-CR15, Class B<br>4.017%, (CSTR), 2/10/47 | 217122 | 212 |
|  COMM Mortgage Trust, Series 2014-CR19, Class D<br>4.572%, (CSTR), 8/10/47 144A | 5842 | 6 |
|  Connecticut Avenue Securities Trust, Series 2025-R01, Class 1M1<br>5.448%, (US 30 Day Average SOFR plus 1.100%), 1/25/45 144A | 353325 | 353 |
|  Connecticut Avenue Securities Trust, Series 2025-R03, Class 2A1<br>5.806%, (US 30 Day Average SOFR plus 1.450%), 3/25/45 144A | 181483 | 183 |
|  Cross Mortgage Trust, Series 2024-H6, Class A2<br>5.383%, (AFC), 9/25/69 144A ∑ | 335892 | 336 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Mortgage Securities continued** |  |  |
|  CSAIL Commercial Mortgage Trust, Series 2015-C3, Class A4<br>3.718%, 8/15/48 | 2918 | 3 |
|  Deephaven Residential Mortgage Trust, Series 2021-2, Class A3<br>1.260%, (AFC), 4/25/66 144A | 86147 | 77 |
|  Ellington Financial Mortgage Trust, Series 2019-2, Class A3<br>3.046%, (AFC), 11/25/59 144A | 23343 | 22 |
|  Ellington Financial Mortgage Trust, Series 2021-3, Class A3<br>1.550%, (AFC), 9/25/66 144A | 128492 | 108 |
|  Ellington Financial Mortgage Trust, Series 2024-INV2, Class A1<br>5.035%, (AFC), 10/25/69 144A ∑ | 437845 | 437 |
|  Ellington Financial Mortgage Trust, Series 2024-INV2, Class A2<br>5.289%, (AFC), 10/25/69 144A ∑ | 248880 | 249 |
|  Ellington Financial Mortgage Trust, Series 2025-INV2, Class A1<br>5.387%, (AFC), 5/26/70 144A ∑ | 190845 | 192 |
|  Ellington Financial Mortgage Trust, Series 2025-INV4, Class A1F<br>5.700%, (US 30 Day Average SOFR plus 1.200%), (AFC), 10/25/70 144A | 195000 | 195 |
|  Extended Stay America Trust, Series 2021-ESH, Class C<br>5.964%, (US SOFR 1 Month plus 1.815%), 7/15/38 144A | 404773 | 405 |
|  Extended Stay America Trust, Series 2025-ESH, Class C<br>6.000%, (US SOFR 1 Month plus 1.850%), 10/15/42 144A | 230000 | 231 |
|  Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/1/52 | 479060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/52 | 256630 | 220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/1/34 | 23117 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/52 | 440423 | 387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/46 | 25668 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/47 | 236395 | 220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/49 | 72951 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/50 | 44349 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/52 | 1519145 | 1481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/1/53 | 122163 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/1/41 | 89258 | 91 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/1/53 | 491160 | 499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/1/54 | 95517 | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/55 | 681504 | 689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/55 | 389071 | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/1/34 | 747 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/35 | 13646 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/1/35 | 4692 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/1/54 | 646658 | 663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/1/54 | 195563 | 202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/55 | 72730 | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/1/55 | 119339 | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/1/55 | 262421 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 9/1/54 | 64352 | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/1/54 | 45804 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 1/1/55 | 93002 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/1/55 | 623599 | 646 |

---

**13** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Mortgage Securities continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 3/1/39 | 22124 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 6/1/38 | 19095 | 20 |
|  Federal Home Loan Mortgage Corp., Series 2017-SC02, Class M1<br>3.850%, (CSTR), 5/25/47 144A | 1941 | 2 |
|  Federal Home Loan Mortgage Corp., Series K753, Class A1<br>4.600%, 6/25/30 | 318697 | 324 |
|  Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/50 | 186542 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/1/52 | 652891 | 556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/28 | 62165 | 61 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/34 | 53343 | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/35 | 22212 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/1/27 | 39673 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/46 | 162392 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/48 | 284099 | 264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/52 | 104910 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/47 | 44469 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/1/49 | 8649 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/1/49 | 24870 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/49 | 7821 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/1/52 | 167829 | 159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/52 | 847580 | 802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/40 | 32206 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/40 | 28767 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/41 | 58805 | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/48 | 17432 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/48 | 16109 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/1/48 | 118220 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/48 | 22736 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/1/48 | 120712 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/49 | 64122 | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/1/50 | 15592 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/52 | 276671 | 270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/33 | 42476 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/40 | 27930 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/45 | 40681 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/48 | 38611 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/49 | 17953 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/49 | 14800 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/52 | 545063 | 543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/53 | 2416974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/53 | 1744956 | 1736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/54 | 783595 | 780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/1/37 | 25780 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/38 | 101656 | 105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/53 | 23108 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/1/53 | 297737 | 303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/54 | 378558 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/54 | 528723 | 538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/54 | 42775 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/54 | 1702500 | 1723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/1/54 | 199115 | 202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/55 | 789013 | 799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/1/34 | 21400 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/34 | 60103 | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/1/34 | 2310 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/1/34 | 815 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/35 | 1467 | 2 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Mortgage Securities continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/1/38 | 1066 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/1/40 | 51789 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/49 | 210450 | 222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/54 | 554158 | 569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/54 | 194384 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/1/32 | 6460 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/1/32 | 5852 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 9/1/54 | 39031 | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 1/1/55 | 43855 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/1/55 | 112293 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/1/55 | 406671 | 421 |
|  Federal National Mortgage Association, Series 2017-90, Class KA<br>3.000%, 11/25/47 | 130004 | 123 |
|  Flagstar Mortgage Trust, Series 2020-1INV, Class A11<br>5.122%, (US SOFR 1 Month plus 0.965%), 3/25/50 144A | 83721 | 80 |
|  Galton Funding Mortgage Trust, Series 2018-1, Class A33<br>3.500%, (AFC), 11/25/57 144A | 17609 | 16 |
|  Galton Funding Mortgage Trust, Series 2019-1, Class A21<br>4.500%, (AFC), 2/25/59 144A | 19653 | 19 |
|  Galton Funding Mortgage Trust, Series 2019-1, Class A32<br>4.000%, (AFC), 2/25/59 144A | 8550 | 8 |
|  Galton Funding Mortgage Trust, Series 2019-H1, Class M1<br>3.339%, (AFC), 10/25/59 144A | 260000 | 247 |
|  Galton Funding Mortgage Trust, Series 2020-H1, Class M1<br>2.832%, (AFC), 1/25/60 144A | 285000 | 235 |
|  GCAT Trust, Series 2025-NQM1, Class A1<br>5.373%, (AFC), 11/25/69 144A ∑ | 304269 | 306 |
|  Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/20/47 | 384894 | 349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/20/42 | 2490 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/20/43 | 34063 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/20/44 | 64421 | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/20/46 | 437 | –π |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/46 | 26220 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/20/47 | 28781 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/20/52 | 891302 | 814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/20/48 | 51430 | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/20/50 | 190804 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/50 | 121893 | 116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/20/52 | 164029 | 155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/20/41 | 137650 | 138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/20/34 | 118909 | 120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/20/48 | 21136 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/20/48 | 107978 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/20/37 | 30349 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/15/45 | 86350 | 90 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/20/48 | 16217 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/20/48 | 8851 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/20/49 | 112301 | 115 |
|  Government National Mortgage Association TBA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/54 | 2275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/54 | 1045000 | 1053 |

---

**14** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Mortgage Securities continued** |  |  |
|  GS Mortgage Backed Securities Trust, Series 2014-EB1A, Class 2A1<br>6.133%, (CSTR), 7/25/44 144A | 1570 | 2 |
|  HILT Commercial Mortgage Trust, Series 2024-ORL, Class B<br>6.091%, (US SOFR 1 Month plus 1.941%), 5/15/37 144A | 485000 | 486 |
|  HOMES Trust, Series 2025-NQM2, Class A1<br>5.425%, (AFC), 2/25/70 144A ∑ | 248372 | 250 |
|  HOMES Trust, Series 2025-NQM4, Class A1<br>5.220%, (AFC), 8/25/70 144A ∑ | 238782 | 240 |
|  Hudson Yards, Series 2025-SPRL, Class A<br>5.649%, (CSTR), 1/13/40 144A | 345000 | 357 |
|  HYT Commercial Mortgage Trust, Series 2024-RGCY, Class A<br>5.992%, (US SOFR 1 Month plus 1.842%), 9/15/41 144A | 345000 | 345 |
|  Imperial Fund Mortgage Trust, Series 2021-NQM2, Class A3<br>1.516%, (AFC), 9/25/56 144A | 188769 | 164 |
|  Imperial Fund Mortgage Trust, Series 2022-NQM4, Class A1<br>4.767%, (AFC), 6/25/67 144A ∑ | 592964 | 591 |
|  JP Morgan Mortgage Trust, Series 2020-INV1, Class A11<br>5.102%, (US SOFR 1 Month plus 0.945%), (AFC), 8/25/50 144A | 34504 | 33 |
|  JP Morgan Mortgage Trust, Series 2020-INV1, Class A15<br>3.500%, (AFC), 8/25/50 144A | 56170 | 50 |
|  JP Morgan Mortgage Trust, Series 2025-DSC1, Class A1<br>5.577%, (AFC), 9/25/65 144A | 543219 | 548 |
|  JP Morgan Mortgage Trust, Series 2025-DSC2, Class A1<br>5.195%, (AFC), 10/25/65 144A | 248302 | 249 |
|  LSTAR Commercial Mortgage Trust, Series 2017-5, Class AS<br>4.021%, 3/10/50 144A | 340000 | 329 |
|  MED Commercial Mortgage Trust, Series 2024-MOB, Class A<br>5.742%, (US SOFR 1 Month plus 1.592%), 5/15/41 144A | 440000 | 439 |
|  MetLife Securitization Trust, Series 2017-1A, Class A<br>3.000%, (AFC), 4/25/55 144A | 47646 | 46 |
|  MFRA Trust, Series 2021-INV1, Class A1<br>0.852%, (AFC), 1/25/56 144A | 35472 | 34 |
|  MFRA Trust, Series 2021-NQM2, Class A2<br>1.317%, (AFC), 11/25/64 144A | 84401 | 75 |
|  MFRA Trust, Series 2025-NQM4, Class A1F<br>5.540%, (US 30 Day Average SOFR plus 1.200%), (AFC), 8/25/70 144A | 1000000 | 1000 |
|  Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-C35, Class A1<br>4.609%, 8/15/58 | 64355 | 65 |
|  Morgan Stanley Capital I Trust, Series 2014-150E, Class A<br>3.912%, 9/9/32 144A | 610000 | 553 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br>$(000's) |
|  **Mortgage Securities continued** |  |  |
|  Morgan Stanley Residential Mortgage Loan Trust, Series 2021-2, Class A4<br>2.500%, (AFC), 5/25/51 144A | 109002 | 98 |
|  New Residential Mortgage Loan Trust, Series 2025-NQM4, Class A2<br>5.603%, (AFC), 7/25/65 144A ∑ | 737011 | 741 |
|  OBX Trust, Series 2019-EXP2, Class 2A2<br>5.637%, (US SOFR 1 Month plus 1.315%), 7/25/59 144A | 25820 | 26 |
|  OBX Trust, Series 2019-EXP3, Class 2A1 5.172%, (US SOFR 1 Month plus 1.015%), (AFC), 10/25/59 144A | 93924 | 94 |
|  OBX Trust, Series 2020-EXP1, Class 2A1<br>5.022%, (US SOFR 1 Month plus 0.865%), 2/25/60 144A | 105263 | 103 |
|  OBX Trust, Series 2020-EXP1, Class 2A1B<br>5.022%, (US SOFR 1 Month plus 0.865%), 2/25/60 144A | 519388 | 510 |
|  OBX Trust, Series 2020-EXP1, Class 2A2<br>5.222%, (US SOFR 1 Month plus 1.065%), 2/25/60 144A | 44201 | 44 |
|  OBX Trust, Series 2020-EXP2, Class A9<br>3.000%, (AFC), 5/25/60 144A | 34286 | 30 |
|  OBX Trust, Series 2020-EXP3, Class 2A1<br>5.172%, (US SOFR 1 Month plus 1.015%), 1/25/60 144A | 148148 | 148 |
|  OBX Trust, Series 2020-INV1, Class A5<br>3.500%, (AFC), 12/25/49 144A | 33118 | 30 |
|  OBX Trust, Series 2021-NQM1, Class A3<br>1.329%, (AFC), 2/25/66 144A | 321065 | 281 |
|  OBX Trust, Series 2025-NQM15, Class A1<br>5.143%, (AFC), 7/27/65 144A ∑ | 98860 | 99 |
|  OBX Trust, Series 2025-NQM15, Class A1F<br>5.506%, (US 30 Day Average SOFR plus 1.150%), (AFC), 7/27/65 144A | 173004 | 173 |
|  ONE Park Mortgage Trust, Series 2021-PARK, Class B<br>5.214%, (US SOFR 1 Month plus 1.065%), 3/15/36 144A | 755000 | 734 |
|  ONE Park Mortgage Trust, Series 2021-PARK, Class C<br>5.364%, (US SOFR 1 Month plus 1.215%), 3/15/36 144A | 405000 | 386 |
|  PENN Commercial Mortgage Trust, Series 2025-P11, Class A<br>5.522%, (CSTR), 8/12/42 144A | 480000 | 489 |
|  ROCC Trust, Series 2024-CNTR, Class A<br>5.388%, 11/13/41 144A | 450000 | 464 |
|  SDR Commercial Mortgage Trust, Series 2024-DSNY, Class B<br>5.891%, (US SOFR 1 Month plus 1.741%), 5/15/39 144A | 400000 | 399 |
|  Sequoia Mortgage Trust, Series 2018-CH2, Class A21<br>4.000%, (AFC), 6/25/48 144A | 14016 | 13 |
|  Sequoia Mortgage Trust, Series 2018-CH2, Class A3<br>4.000%, (AFC), 6/25/48 144A | 32331 | 30 |
|  Sequoia Mortgage Trust, Series 2018-CH3, Class A19<br>4.500%, (AFC), 8/25/48 144A | 731 | 1 |

---

**15** 

------

Short-Term Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br> $(000's) |
|  **Mortgage Securities continued** |  |  |
|  STACR Trust, Series 2021-DNA5,<br>Class M2<br>6.006%, (US 30 Day Average SOFR plus 1.650%), 1/25/34 144A | 73221 | 73 |
|  STACR Trust, Series 2021-DNA7,<br>Class M1<br>5.206%, (US 30 Day Average SOFR plus 0.850%), 11/25/41 144A | 49174 | 49 |
|  STACR Trust, Series 2021-DNA7,<br>Class M2<br>6.156%, (US 30 Day Average SOFR plus 1.800%), 11/25/41 144A | 375000 | 378 |
|  STACR Trust, Series 2022-DNA5,<br>Class M1A<br>7.306%, (US 30 Day Average SOFR plus 2.950%), 6/25/42 144A | 269372 | 275 |
|  STACR Trust, Series 2023-HQA3,<br>Class A1<br>6.206%, (US 30 Day Average SOFR plus 1.850%), 11/25/43 144A | 150705 | 152 |
|  STACR Trust, Series 2024-HQA1,<br>Class A1<br>5.819%, (US 30 Day Average SOFR plus 1.250%), 3/25/44 144A | 685293 | 688 |
|  STACR Trust, Series 2025-DNA1,<br>Class A1<br>5.306%, (US 30 Day Average SOFR plus 0.950%), 1/25/45 144A | 119250 | 119 |
|  STACR Trust, Series 2025-DNA3,<br>Class M1<br>5.470%, (US 30 Day Average SOFR plus 1.100%), 9/25/45 144A | 510000 | 510 |
|  Starwood Mortgage Residential Trust, Series 2019-INV1, Class A3<br>2.916%, (AFC), 9/27/49 144A | 91722 | 91 |
|  Starwood Mortgage Residential Trust, Series 2020-1,<br>Class A2<br>2.408%, (AFC), 2/25/50 144A | 124707 | 119 |
|  Starwood Mortgage Residential Trust, Series 2021-2,<br>Class A1<br>0.943%, (AFC), 5/25/65 144A | 73573 | 69 |
|  Starwood Mortgage Residential Trust, Series 2021-4,<br>Class A1<br>1.162%, (AFC), 8/25/56 144A | 431433 | 384 |
|  Toorak Mortgage Corp., Series 2021-INV1, Class A2<br>1.409%, (AFC), 7/25/56 144A | 73390 | 67 |
|  Towd Point Mortgage Trust, Series 2018-1, Class A1<br>3.000%, (AFC), 1/28/58 144A | 12849 | 13 |
|  Towd Point Mortgage Trust, Series 2022-4, Class A1<br>3.750%, (AFC), 9/25/62 144A | 652063 | 626 |
|  TX Trust, Series 2024-HOU,<br>Class B<br>6.241%, (US SOFR 1 Month plus 2.091%), 6/15/39 144A | 535000 | 534 |
|  Verus Securitization Trust, Series 2021-1, Class A1<br>0.815%, (AFC), 1/25/66 144A | 56046 | 50 |
|  Verus Securitization Trust, Series 2021-1, Class A2 1.052%, (AFC), 1/25/66 144A | 77783 | 70 |
|  Verus Securitization Trust, Series 2021-1, Class A3 1.155%, (AFC), 1/25/66 144A | 45755 | 41 |
|  Verus Securitization Trust, Series 2021-2, Class A1 1.031%, (AFC), 2/25/66 144A | 108380 | 97 |

---

---

| | | |
|:---|:---|:---|
| Structured Products (31.3%) | Shares/ Par <sup>+</sup> | Value<br> $(000's) |
|  **Mortgage Securities continued** |  |  |
|  Verus Securitization Trust, Series 2021-R1, Class A2<br>1.057%, (AFC), 10/25/63 144A | 19625 | 19 |
|  Verus Securitization Trust, Series 2021-R2, Class A1<br>0.918%, (AFC), 2/25/64 144A | 105811 | 99 |
|  Verus Securitization Trust, Series 2023-6, Class A2<br>6.939%, (AFC), 9/25/68 144A ∑ | 165444 | 167 |
|  Verus Securitization Trust, Series 2023-7, Class A2<br>7.272%, (AFC), 10/25/68 144A ∑ | 202449 | 206 |
|  Verus Securitization Trust, Series 2023-8, Class A2<br>6.664%, (AFC), 12/25/68 144A ∑ | 121080 | 123 |
|  Verus Securitization Trust, Series 2025-3, Class A1<br>5.623%, (AFC), 5/25/70 144A ∑ | 215192 | 217 |
|  Verus Securitization Trust, Series 2025-7, Class A1F<br>5.556%, (US 30 Day Average SOFR plus 1.200%), (AFC), 8/25/70 144A | 450712 | 451 |
|  Vista Point Securitization Trust, Series 2020-2, Class A3<br>2.496%, (AFC), 4/25/65 144A | 25699 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **59127** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Structured Products (Cost: $123,133)** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Structured Products (Cost: $123,133)** | **122836** |
| Short-Term Investments (2.2%) |  |  |
|  **Commercial Paper (1.8%)** |  |  |
|  Bacardi-Martini BV<br>0.000%, 11/13/25 144A | 850000 | 845 |
|  Brunswick Corp.<br>0.000%, 10/2/25 144A | 1080000 | 1080 |
|  Crown Castle, Inc.<br>0.000%, 10/2/25 144A | 1050000 | 1049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/23/25 144A | 1085000 | 1082 |
|  FMC Corp.<br>0.000%, 10/20/25 144A | 1065000 | 1062 |
|  Harley-Davidson Financial Services, Inc. 0.000%, 10/17/25 144A | 1070000 | 1068 |
|  HCA Inc.<br>0.000%, 10/16/25 144A | 1065000 | 1063 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **7249** |
|  **Consumer, Non-cyclical (0.1%)** |  |  |
|  Bunge, Ltd., Finance Corp.<br>2.000%, 4/21/26 | 200000 | 198 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **198** |
|  **Utilities (0.3%)** |  |  |
|  The AES Corp.<br>1.375%, 1/15/26 | 815000 | 807 |
|  NRG Energy, Inc. |  |  |

---

**16** 

------

Short-Term Bond Portfolio

---

| | | |
|:---|:---|:---|
| Short-Term Investments (2.2%) | Shares/ Par <sup>+</sup> | Value<br> $(000's) |
|  **Utilities continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/2/25 144A | 275000 | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | **1081** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost: $8,527)** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost: $8,527)** | **8528** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (99.5%) (Cost: $389,215)<sup>@</sup>**  | &nbsp;&nbsp;&nbsp;&nbsp; **Total Investments (99.5%) (Cost: $389,215)<sup>@</sup>**  | **390921** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Other Assets, Less Liabilities (0.5%)** |  | **2109** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets (100.0%)** |  | **393030** |

---

**Exchange Traded or Centrally Cleared Derivatives Futures** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Issuer | Long/<br>Short | Currency | Notional Par<br>(000's) | Number<br>of<br>Contracts | Expiration<br>Date | Notional Value<br>(000's) | Unrealized<br>Appreciation/<br>(Depreciation)<br>(000's) | Variation Margin<br>(000's) |
|  Five-Year US Treasury Note Future | Short | USD | 7700 | 77 | 12/25 | $8408 | $–π | $(3) |
|  Ten-Year US Treasury Note Future | Short | USD | 2800 | 28 | 12/25 | 3222 | (27) | 2 |
|  Ten-Year US Treasury Note Future | Short | USD | 10700 | 107 | 12/25 | 12038 | (55) | 2 |
|  Two-Year US Treasury Note Future | Long | USD | 80000 | 400 | 12/25 | 83359 | 28 | 44 |
|  Ultra Long-Term US Treasury Bond Future | Short | USD | 2400 | 24 | 12/25 | 2882 | (71) | 13 |
|  |  |  |  |  |  |  | $(125) | $58 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Assets | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities | Financial Derivative Liabilities |
|  | | | | | | | Market Value |
|  | Variation Margin (000's) | Variation Margin (000's) | Variation Margin (000's) | Variation Margin (000's) | Variation Margin (000's) | Variation Margin (000's) | (000's) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | Options |
| Total Exchange-Traded or Centrally Cleared Derivatives | $– | $61 | $61 | $– | $(3) | $(3) | $– |

---

+ All par is stated in U.S. Dollar unless otherwise noted.

---

| | |
|:---|:---|
| § | Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. At September 30, 2025, the aggregate value of these securities was $6,831 (in thousands), representing 1.7% of net assets.  |

---

---

| | |
|:---|:---|
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold as transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2025 the value of these securities (in thousands) was $143,671 representing 36.5% of the net assets.  |

---

α Rate shown is the rate as of the period end. The rate may be based on a fixed rate, a capped rate or a floor rate and may convert to a variable or floating rate in the future.

b Part or all of the security has been pledged as collateral.

Æ Security valued using significant unobservable inputs.

∑ Stepped coupon bond for which the coupon rate of interest adjusts on specified date(s); rate shown is effective rate at period-end.

---

| | |
|:---|:---|
| π | Amount is less than one thousand.  |

---

---

| | |
|:---|:---|
| @ | At September 30, 2025, the aggregate cost of investments, including derivatives, for federal tax purposes (in thousands) was $389,215 and the net unrealized appreciation of investments based on that cost was $1,581 which is comprised of $3,317 aggregate gross unrealized appreciation and $1,736 aggregate gross unrealized depreciation. Because tax adjustments are calculated annually, these amounts do not reflect tax adjustments. For the previous fiscal year's federal income tax information, please refer to the Notes to the Financial Statements section in the Portfolio's most recent annual report.  |

---

**17** 

------

Short-Term Bond Portfolio

The Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification defines fair value as the price that a Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes and requires disclosure of a fair value hierarchy, separately for each major category of asset and liability, which segregates fair value measurements into levels. A summary of the fair value hierarchy is described below:

Level 1 - fair value is determined by unadjusted quoted prices in active markets for identical securities or derivatives

Level 2 - fair value is determined by other significant observable inputs

Level 3 - fair value is determined by significant unobservable inputs

The categorization of a value determined for a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the Portfolio's perceived risk of that instrument.

The following is a summary of the inputs used in valuing the Portfolio's Investments at September 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
|  | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** |
| **Description** | **Level 1 - Quoted<br>Prices** | **Level 2 - Other<br>Significant<br>Observable Inputs** | **Level 3<br>- Significant**<br> **Unobservable** <br> **Inputs** |
|  | *(Amounts in thousands)* | *(Amounts in thousands)* | *(Amounts in thousands)* |
|  Assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds | $— | $175703 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Governments |  | 83854 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Structured Products |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Securities |  | 62989 | 720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage Securities |  | 59127 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Investments |  | 8528 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Financial Instruments^ |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | 28 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Assets: | $28 | $390201 | $720 |
|  Liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Financial Instruments^ |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | (153) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Liabilities: | $(153) | $— | $— |

---

^ Other financial instruments are derivative instruments such as futures and forward foreign currency contracts, which are valued at the unrealized appreciation (depreciation) on the instrument, and securities sold short, reverse repurchase agreements, written options and swaps contracts, which are valued at market value.

Management has determined that the amount of Level 3 securities compared to total net assets is not material; therefore, the reconciliation of Level 3 securities and assumptions is not shown for the period ended September 30, 2025.

For the period ended September 30, 2025, there was a transfer from Level 3 to Level 2 in the amount of $109 (in thousands). This transfer was the result of an increase in the quantity of observable inputs for the security that was previously not priced by a third party vendor.

**18** 

------

Abbreviations (unaudited)

**Abbreviations that may be used in the preceding statements** 

---

| | |
|:---|:---|
|  ADR | American Depositary Receipt |
|  AFC | Available Funds Cap security - Security accrues interest at an assumed or uncapped rate. If the interest rate on the underlying loans is lower than the uncapped rate, then the security will pay at the lower rate. |
|  CSTR | Collateral Strip Rate security - interest is based on the weighted net interest rate of the collateral. |
|  IO | Interest Only Security |
|  PO | Principal Only Security |
|  RB | Revenue Bond |
|  CPURNSA | U.S. Consumer Price Index - All Urban Consumers - Not Seasonally Adjusted |
|  IBOR | Interbank Offered Rate |
|  LIBOR | London Interbank Offered Rate |
|  SOFR | Secured Overnight Financing Rate |
|  CME | Chicago Mercantile Exchange |
|  ICE | Intercontinental Exchange |
|  FTSE | Financial Times Stock Exchange |
|  SONIO | Sterling Overnight Interbank Average Rate |
|  MUTKCALM | Bank of Japan Unsecured Overnight Call Rate |
|  DAC | Designated Activity Company |
|  RSC | Restricted Scope Company |
|  KSC | Kuwait Shareholding Company |
|  TBA | To Be Announced |
|  CMT | Constant Maturity Treasury |
|  OIS | Overnight Index Swaps |
|  BBR | Bank Bill Rate |
|  BBSW | Bank Bill Swap Reference Rate |
|  DIFC | Dubai International Financial Centre |
|  EURIBOR | Euro Interbank Offered Rate |
|  PRIBOR | Prague Interbank Offered Rate |
|  SDR | Swedish Depository Receipt |
|  ETF | Exchange Traded Fund |
|  **Currency Abbreviations** | **Currency Abbreviations** |
|  AED | United Arab Emirates Dirham |
|  AUD | Australian Dollar |
|  BRL | Brazilian Real |
|  CAD | Canadian Dollar |
|  CHF | Swiss Franc |
|  CNH | Chinese Yuan Renminbi - Offshore |
|  CNY | Chinese Yuan Renminbi |
|  CZK | Czech Koruna |
|  DKK | Danish Krone |
|  EGP | Egyptian Pound |
|  EUR | Euro |
|  GBP | British Pound |
|  HKD | Hong Kong Dollar |
|  IDR | Indonesian Rupiah |
|  ILS | Israeli Shekel |
|  INR | Indian Rupee |
|  JPY | Japanese Yen |
|  KRW | South Korean Won |
|  MXN | Mexican New Peso |
|  NGN | Nigerian Naira |
|  NOK | Norwegian Krone |
|  NZD | New Zealand Dollar |
|  PEN | Peruvian Sol |
|  PLN | Polish Zloty |
|  RUB | Russian Ruble |
|  SAR | Saudi Riyal |
|  SEK | Swedish Krona |
|  SGD | Singapore Dollar |
|  THB | Thai Baht |
|  TRY | Turkish Lira |
|  TWD | Taiwan Dollar |
|  USD | United States Dollar |
|  ZAR | South African Rand |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** NORTHWESTERN MUTUAL SERIES FUND INC

- **b. Investment Company Act file number:** 811-03990

- **c. CIK number of Registrant:** 0000742212

- **d. LEI of Registrant:** 549300T1UBX7MDSNZA55

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

  - **Street Address 1:** 720 E WISCONSIN AVE

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-271-1444

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

- **a. Name of Series:** Short-Term Bond Portfolio

- **b. EDGAR series identifier (if any):** S000018233

- **c. LEI of Series:** BEEDB5U9NNUVQYFFEL15

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $400451470.80

**Total Liabilities:** $7576107.98

**Net Assets:** $392875362.82

**Delayed Delivery Securities:** $4133813.52

**Cash Not Reported:** $5962438.54

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1691.09000000 | **1-Year:** -25196.89000000 | **5-Year:** -20362.06000000 | **10-Year:** -3330.84000000 | **30-Year:** -1292.67000000

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

- **3-Month:** -78.48000000 | **1-Year:** -447.17000000 | **5-Year:** -188.66000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000050281 | 0.09%                | 0.84%                | 0.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $210467.65               | $-1093628.06                               |
| Month 2  | $132934.94               | $1887705.22                                |
| Month 3  | $275528.06               | $-68032.68                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140Q9XM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    118220 | PA      | $116654.94    | 0.03%             | 2048-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                       | Hilton Grand Vacations Trust 2023-1                          | CUSIP: 432917AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    332284 | PA      | $340515.31    | 0.09%             | 2038-01-25      | Fixed         | 6.11%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31371LDG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42476 | PA      | $43056.93     | 0.01%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COCA-COLA EUROPACIFIC                              | Coca-Cola Europacific Partners PLC                           | CUSIP: 19123MAF0<br>LEI: 549300LTH67W4GWMRF57 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $193409.99    | 0.05%             | 2027-01-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| GMRF Mortgage Acquisition Co., LLC                 | Galton Funding Mortgage Trust 2019-H1                        | CUSIP: 36418XAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $247340.00    | 0.06%             | 2059-10-25      | Variable      | 3.34%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                               | Enel Finance International NV                                | CUSIP: 29278GBF4<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $199435.99    | 0.05%             | 2028-09-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                       | Comcast Corp                                                 | CUSIP: 20030NCT6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    235000 | PA      | $235689.69    | 0.06%             | 2028-10-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                    | SBA Tower Trust                                              | CUSIP: 78403DAR1<br>LEI: N/A                  | Long             | DBT              |  | US        |    225000 | PA      | $213788.34    | 0.05%             | 2028-01-15      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                | Delta Air Lines Inc                                          | CUSIP: 247361A24<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    360000 | PA      | $364368.98    | 0.09%             | 2028-07-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes            | Santander Bank Auto Credit-Linked Notes Series 2024-B        | CUSIP: 80280BAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $251088.28    | 0.06%             | 2033-01-18      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31425YBE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23887 | PA      | $24780.52     | 0.01%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MARS INC                                           | Mars Inc                                                     | CUSIP: 571676AT2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    770000 | PA      | $779779.91    | 0.20%             | 2028-04-20      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                          | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    375000 | PA      | $379253.21    | 0.10%             | 2028-01-23      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Bank                                               | BANK 2024-BNK47                                              | CUSIP: 06540GAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     81277 | PA      | $82994.37     | 0.02%             | 2057-06-15      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | CarMax Auto Owner Trust 2024-1                               | CUSIP: 14318WAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    290000 | PA      | $295859.36    | 0.08%             | 2029-08-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes                     | Chase Auto Credit Linked Notes Series 2025-1                 | CUSIP: 46591HCS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    319768 | PA      | $321101.56    | 0.08%             | 2033-02-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Trust 2025-GW                                             | CUSIP: 12433GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $591659.38    | 0.15%             | 2042-07-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                            | Booz Allen Hamilton Inc                                      | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    110000 | PA      | $107311.87    | 0.03%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                | Starwood Mortgage Residential Trust 2021-4                   | CUSIP: 85573PAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    431433 | PA      | $384119.41    | 0.10%             | 2056-08-25      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2020-EXP1 Trust                                          | CUSIP: 67448TBF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     44201 | PA      | $43699.28     | 0.01%             | 2060-02-25      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                           | FirstEnergy Transmission LLC                                 | CUSIP: 33767BAG4<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |    155000 | PA      | $155991.87    | 0.04%             | 2030-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                                | Frontier Issuer LLC                                          | CUSIP: 35910EAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    110000 | PA      | $113379.57    | 0.03%             | 2054-06-20      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                          | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    445000 | PA      | $459738.37    | 0.12%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                         | Progress Residential 2021-SFR3                               | CUSIP: 74333VAN4<br>LEI: 5493002EEQ4GX2578787 | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $198198.68    | 0.05%             | 2026-05-17      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust 2024-3                              | CUSIP: 67571GAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    136654 | PA      | $137389.48    | 0.03%             | 2030-05-20      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132CWG73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23117 | PA      | $22370.90     | 0.01%             | 2034-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                   | Crown Castle Inc                                             | CUSIP: 22822VAV3<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    615000 | PA      | $599674.51    | 0.15%             | 2026-07-15      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                           | National Rural Utilities Cooperative Finance Corp            | CUSIP: 63743HFR8<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    316000 | PA      | $321143.95    | 0.08%             | 2027-05-06      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| FORTIVE CORPORATION                                | Fortive Corp                                                 | CUSIP: 34959JAG3<br>LEI: 549300MU9YQJYHDQEF63 | Long             | DBT              | CORP              | US        |    538000 | PA      | $533703.87    | 0.14%             | 2026-06-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                           | Volkswagen Group of America Finance LLC                      | CUSIP: 928668CA8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    380000 | PA      | $386679.00    | 0.10%             | 2026-11-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132DNDB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    256630 | PA      | $219748.85    | 0.06%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                           | Avolon Holdings Funding Ltd                                  | CUSIP: 05401AAU5<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    390000 | PA      | $403770.96    | 0.10%             | 2029-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Bank5                                              | BANK5 2024-5YR12                                             | CUSIP: 06644XBP0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225000 | PA      | $234555.41    | 0.06%             | 2057-12-15      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Refi Loan Trust 2020-G             | CUSIP: 63941UAA1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     58817 | PA      | $55216.91     | 0.01%             | 2069-09-16      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QS3D1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    282136 | PA      | $282084.99    | 0.07%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418DTQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    186542 | PA      | $151842.60    | 0.04%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31427PB29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    389071 | PA      | $393625.56    | 0.10%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                              | HPEFS Equipment Trust 2024-2                                 | CUSIP: 40444MAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    205000 | PA      | $209786.75    | 0.05%             | 2032-04-20      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | Goldman Sachs Group Inc/The                                  | CUSIP: 38141GZU1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    390000 | PA      | $392440.08    | 0.10%             | 2028-08-23      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                           | Toyota Motor Credit Corp                                     | CUSIP: 89236TJZ9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    325000 | PA      | $320983.87    | 0.08%             | 2027-03-22      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                             | Pacific Gas and Electric Co                                  | CUSIP: 694308HW0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171268.01    | 0.04%             | 2027-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                             | Santander Holdings USA Inc                                   | CUSIP: 80282KBC9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    410000 | PA      | $400062.26    | 0.10%             | 2028-01-06      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                        | Fortress Credit BSL VIII Ltd                                 | CUSIP: 34962DAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    222516 | PA      | $222572.67    | 0.06%             | 2032-10-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                            | HCA Inc                                                      | CUSIP: 404119BS7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    390000 | PA      | $390503.02    | 0.10%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Receivables Trust         | Exeter Select Automobile Receivables Trust 2025-2            | CUSIP: 30185EAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    140000 | PA      | $140996.77    | 0.04%             | 2031-11-17      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                 | EFMT 2025-INV4                                               | CUSIP: 26846DAD6<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |    195000 | PA      | $194997.43    | 0.05%             | 2070-10-25      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                   | Societe Generale SA                                          | CUSIP: 83368RCH3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    505000 | PA      | $513510.96    | 0.13%             | 2029-05-22      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LGENERGYSOLUTION                                   | LG Energy Solution Ltd                                       | CUSIP: 000000000<br>LEI: 988400QX6P286XA6ZS85 | Long             | DBT              | CORP              | KR        |    775000 | PA      | $786646.01    | 0.20%             | 2027-07-02      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2023-8                            | CUSIP: 92540DAB1<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |    121080 | PA      | $122531.59    | 0.03%             | 2068-12-25      | Variable      | 6.66%                 | No            |                  2 | On Loan: No      |
| ELARA HGV TIMESHARE ISSUER                         | Elara HGV Timeshare Issuer 2019-A LLC                        | CUSIP: 28416TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55364 | PA      | $54788.43     | 0.01%             | 2034-01-25      | Fixed         | 2.61%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                           | Angel Oak Mortgage Trust 2021-1                              | CUSIP: 03465CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    202328 | PA      | $176580.13    | 0.04%             | 2066-01-25      | Variable      | 0.91%                 | No            |                  2 | On Loan: No      |
| HARLEY-DAVIDSON FINL SER                           | Harley-Davidson Financial Services Inc                       | CUSIP: 41282JXH9<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | STIV             | CORP              | US        |   1070000 | PA      | $1067768.62   | 0.27%             | 2025-10-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                           | Benchmark 2024-V11 Mortgage Trust                            | CUSIP: 081921BC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $288112.61    | 0.07%             | 2057-11-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                    | MVW 2021-1W LLC                                              | CUSIP: 55389TAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22979 | PA      | $22128.97     | 0.01%             | 2041-01-22      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                        | Fortress Credit Bsl VII Ltd                                  | CUSIP: 34956NAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    460000 | PA      | $461492.79    | 0.12%             | 2032-07-23      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                              | TRK 2021-INV1 Trust                                          | CUSIP: 89688WAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     73390 | PA      | $66678.33     | 0.02%             | 2056-07-25      | Variable      | 1.41%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                              | HPEFS Equipment Trust 2024-1                                 | CUSIP: 403963AE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    680000 | PA      | $685191.60    | 0.17%             | 2031-05-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                           | Caterpillar Financial Services Corp                          | CUSIP: 14913UAS9<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1050478.16   | 0.27%             | 2027-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                    | SBA Tower Trust                                              | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              |  | US        |    619000 | PA      | $635577.56    | 0.16%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418C7G3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17953 | PA      | $18077.61     | 0.00%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                     | Carvana Auto Receivables Trust 2024-N2                       | CUSIP: 14687VAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    405000 | PA      | $411271.02    | 0.10%             | 2030-09-10      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                       | ING GROEP NV                                                 | CUSIP: 456837BQ5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    575000 | PA      | $582622.07    | 0.15%             | 2029-03-25      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                  | Kinder Morgan Inc                                            | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    460000 | PA      | $474526.35    | 0.12%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| KOREA HYDRO & NUCLEAR PO                           | Korea Hydro & Nuclear Power Co Ltd                           | CUSIP: 50064YAS2<br>LEI: 9884008CRY5MLCN8OQ43 | Long             | DBT              | NUSS              | KR        |    250000 | PA      | $255729.30    | 0.07%             | 2028-07-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                           | Ford Motor Credit Co LLC                                     | CUSIP: 345397F81<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    385000 | PA      | $386275.79    | 0.10%             | 2026-11-05      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                   | Trinitas Clo VII Ltd                                         | CUSIP: 89641CAU5<br>LEI: 549300F3XEPDOX3FOP69 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250710.31    | 0.06%             | 2035-01-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                             | NextEra Energy Capital Holdings Inc                          | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136468.06    | 0.03%             | 2027-09-01      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                           | Neuberger Berman Loan Advisers Clo 43 Ltd                    | CUSIP: 64134AAJ1<br>LEI: 549300N83MM16HCONB28 | Long             | ABS-CBDO         | CORP              | KY        |   1205000 | PA      | $1205735.21   | 0.31%             | 2036-07-17      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                    | MVW 2023-2 LLC                                               | CUSIP: 55400WAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     56464 | PA      | $57719.34     | 0.01%             | 2040-11-20      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC                     | Wheels Fleet Lease Funding 1 LLC                             | CUSIP: 96328GBM8<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |    454436 | PA      | $459873.03    | 0.12%             | 2039-02-18      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                             | PNC Financial Services Group Inc/The                         | CUSIP: 693475BL8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    575000 | PA      | $575621.18    | 0.15%             | 2027-01-26      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                            | Corebridge Global Funding                                    | CUSIP: 00138CBG2<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |    400000 | PA      | $400171.77    | 0.10%             | 2028-08-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                | Exeter Automobile Receivables Trust 2025-4                   | CUSIP: 30167KAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480000 | PA      | $480421.01    | 0.12%             | 2031-06-16      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Gold Pool                                        | CUSIP: 31335CHG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     19095 | PA      | $20093.90     | 0.01%             | 2038-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                           | RTX Corp                                                     | CUSIP: 75513EBZ3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    332000 | PA      | $354133.99    | 0.09%             | 2028-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                          | Nelnet Student Loan Trust 2020-1                             | CUSIP: 64034GAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     62606 | PA      | $62481.60     | 0.02%             | 2068-03-26      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| World OMNI Select Auto Trust                       | World Omni Select Auto Trust 2023-A                          | CUSIP: 98163UAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    445000 | PA      | $448899.58    | 0.11%             | 2028-08-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust 2022-1                              | CUSIP: 67571EAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    124811 | PA      | $124851.79    | 0.03%             | 2028-05-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | Carmax Auto Owner Trust 2023-3                               | CUSIP: 14319BAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210000 | PA      | $216053.54    | 0.05%             | 2030-12-16      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                      | Amphenol Corp                                                | CUSIP: 032095AM3<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    205000 | PA      | $205547.35    | 0.05%             | 2026-03-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                  | Citigroup Mortgage Loan Trust Inc                            | CUSIP: 17328PAX1<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    290522 | PA      | $249804.71    | 0.06%             | 2050-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                   | T-Mobile USA Inc                                             | CUSIP: 87264ABR5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    470000 | PA      | $466307.42    | 0.12%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179NNA2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34063 | PA      | $32105.94     | 0.01%             | 2043-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NBN CO LTD                                         | NBN Co Ltd                                                   | CUSIP: 62878U2A9<br>LEI: 2549007CRZ2NT7S96A24 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $983694.66    | 0.25%             | 2026-05-05      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC           | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RKH6<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    105000 | PA      | $106632.77    | 0.03%             | 2028-02-20      | Fixed         | 7.32%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                 | Realty Income Corp                                           | CUSIP: 756109BQ6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    140000 | PA      | $140026.82    | 0.04%             | 2026-01-13      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | Wells Fargo & Co                                             | CUSIP: 95000U3R2<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    730000 | PA      | $736712.58    | 0.19%             | 2028-01-24      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Refi Loan Trust 2020-D             | CUSIP: 63941HAA0<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     91367 | PA      | $86864.04     | 0.02%             | 2069-05-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                              | Republic Services Inc                                        | CUSIP: 760759AY6<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119456.44    | 0.03%             | 2025-11-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                           | Santander UK Group Holdings PLC                              | CUSIP: 80281LAQ8<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    220000 | PA      | $215901.52    | 0.05%             | 2027-06-14      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust Series 2025-DSC1                    | CUSIP: 46593TAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    543219 | PA      | $548362.67    | 0.14%             | 2065-09-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2021-2                            | CUSIP: 92538FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    108380 | PA      | $96880.14     | 0.02%             | 2066-02-25      | Variable      | 1.03%                 | No            |                  2 | On Loan: No      |
| MEGLOBAL BV                                        | MEGlobal BV                                                  | CUSIP: 000000000<br>LEI: 549300WBVLU2FILR7W19 | Long             | DBT              | CORP              | NL        |    420000 | PA      | $400289.40    | 0.10%             | 2028-04-28      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                       | Synopsys Inc                                                 | CUSIP: 871607AB3<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1041528.15   | 0.27%             | 2028-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                | Starwood Mortgage Residential Trust 2021-2                   | CUSIP: 85573HAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     73573 | PA      | $69409.62     | 0.02%             | 2065-05-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                       | Hilton Grand Vacations Trust 2022-1D                         | CUSIP: 43283BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     62508 | PA      | $62160.43     | 0.02%             | 2034-06-20      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Loan Trust 2020-A                  | CUSIP: 63941FAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135334 | PA      | $130857.32    | 0.03%             | 2068-11-15      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| CNO GLOBAL FUNDING                                 | CNO Global Funding                                           | CUSIP: 18977W2A7<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |    830000 | PA      | $809868.07    | 0.21%             | 2026-10-07      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Trust 2021-VIEW                                           | CUSIP: 05606GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255000 | PA      | $254442.19    | 0.06%             | 2036-06-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| U.S. Bank National Association                     | US Bank NA                                                   | CUSIP: 90357PAV6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | ABS-O            | CORP              | US        |     70103 | PA      | $70918.38     | 0.02%             | 2032-08-25      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                             | NXP BV / NXP Funding LLC / NXP USA Inc                       | CUSIP: 62954HBE7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     80000 | PA      | $80250.18     | 0.02%             | 2027-06-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                                        | Cencora Inc                                                  | CUSIP: 03073EAV7<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    330000 | PA      | $333728.05    | 0.08%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                         | Fiserv Inc                                                   | CUSIP: 337738BJ6<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    480000 | PA      | $486264.75    | 0.12%             | 2027-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                   | Trinitas CLO VI Ltd                                          | CUSIP: 89640YBN3<br>LEI: 549300IUAXGLQ814UD95 | Long             | ABS-CBDO         | CORP              | KY        |    460000 | PA      | $459862.00    | 0.12%             | 2034-01-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                    | SBA Tower Trust                                              | CUSIP: 78403DBD1<br>LEI: N/A                  | Long             | DBT              |  | US        |   1125000 | PA      | $1132266.71   | 0.29%             | 2029-10-15      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| FORTINET INC                                       | Fortinet Inc                                                 | CUSIP: 34959EAA7<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |    675000 | PA      | $664169.36    | 0.17%             | 2026-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QTEF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    297737 | PA      | $302877.05    | 0.08%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                                 | BMW US Capital LLC                                           | CUSIP: 05565ECQ6<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |    970000 | PA      | $978260.80    | 0.25%             | 2027-08-13      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | Morgan Stanley                                               | CUSIP: 61747YFY6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    570000 | PA      | $581384.99    | 0.15%             | 2029-04-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| VERISK ANALYTICS INC                               | Verisk Analytics Inc                                         | CUSIP: 92345YAM8<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |    565000 | PA      | $566696.19    | 0.14%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Blue Owl Asset Leasing Trust                       | Blue Owl Asset Leasing Trust 2024-1 LLC                      | CUSIP: 095921AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    110000 | PA      | $111361.34    | 0.03%             | 2030-03-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179TSK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    107978 | PA      | $110021.91    | 0.03%             | 2048-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                | Exeter Automobile Receivables Trust 2023-1                   | CUSIP: 30168BAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $81500.63     | 0.02%             | 2029-06-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132DUQU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    298821 | PA      | $306593.63    | 0.08%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                   | COLT 2025-10 Mortgage Loan Trust                             | CUSIP: 12675XAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $375020.44    | 0.10%             | 2070-10-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                              | Amrize Finance US LLC                                        | CUSIP: 43475RAB2<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    550000 | PA      | $556419.06    | 0.14%             | 2028-04-07      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                            | MPLX LP                                                      | CUSIP: 55336VCA6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1505000 | PA      | $1514083.62   | 0.39%             | 2031-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3138ERYP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     44469 | PA      | $42666.49     | 0.01%             | 2047-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bacardi-Martini BV                                 | Bacardi-Martini BV                                           | CUSIP: 05634EYD8<br>LEI: 5493002XXBV8B88K2408 | Long             | STIV             | CORP              | US        |    850000 | PA      | $845178.89    | 0.22%             | 2025-11-13      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                         | Fiserv Inc                                                   | CUSIP: 337738BP2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301112.30    | 0.08%             | 2031-02-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                          | Auxilior Term Funding 2023-1 LLC                             | CUSIP: 05335JAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $388283.77    | 0.10%             | 2030-12-16      | Fixed         | 7.27%                 | No            |                  2 | On Loan: No      |
| Corp. Nacional del Cobre de Chile                  | Corp. Nacional del Cobre de Chile                            | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    870000 | PA      | $822146.32    | 0.21%             | 2029-09-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | Barclays PLC                                                 | CUSIP: 06738ECC7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    390000 | PA      | $390897.93    | 0.10%             | 2026-11-02      | Fixed         | 7.33%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                   | SMB Private Education Loan Trust 2020-PTB                    | CUSIP: 78449DAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    455044 | PA      | $430638.07    | 0.11%             | 2054-09-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc                                   | Altria Group Inc                                             | CUSIP: 02209SAU7<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    424000 | PA      | $418584.26    | 0.11%             | 2026-09-16      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                                 | Tricon Residential 2024-SFR2 Trust                           | CUSIP: 89616VAD2<br>LEI: 549300Z2X1L1L3MID765 | Long             | ABS-O            | CORP              | US        |    510000 | PA      | $516495.00    | 0.13%             | 2040-06-17      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2023-7                            | CUSIP: 92539YAB8<br>LEI: 213800W65K5FH3AI2J91 | Long             | ABS-MBS          | CORP              | US        |    202449 | PA      | $205502.80    | 0.05%             | 2068-10-25      | Variable      | 7.27%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII                | Bayview Opportunity Master Fund VII 2025-EDU1 LLC            | CUSIP: 07337GAA1<br>LEI: 2549001VJ64UFK8PZA41 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $250000.00    | 0.06%             | 2048-07-27      | Floating      | 5.63%                 | No            |                  3 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Gold Pool                                        | CUSIP: 31335APZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     25668 | PA      | $24160.52     | 0.01%             | 2046-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SDR Commercial Mortgage Trust                      | SDR Commercial Mortgage Trust 2024-DSNY                      | CUSIP: 811304AE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $399001.92    | 0.10%             | 2039-05-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                   | SMB Private Education Loan Trust 2018-B                      | CUSIP: 78449LAC2<br>LEI: 549300INMCHM7L5O6M41 | Long             | ABS-O            | CORP              | US        |     84368 | PA      | $84245.43     | 0.02%             | 2037-01-15      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                               | Mercedes-Benz Finance North America LLC                      | CUSIP: 58769JAF4<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |    190000 | PA      | $190485.59    | 0.05%             | 2026-03-30      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31402QVG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       815 | PA      | $847.77       | 0.00%             | 2034-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                             | Verizon Communications Inc                                   | CUSIP: 92343VGH1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    851000 | PA      | $811720.19    | 0.21%             | 2028-03-22      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                           | AerCap Ireland Capital DAC / AerCap Global Aviation Trust    | CUSIP: 00774MBG9<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    842000 | PA      | $868326.17    | 0.22%             | 2027-04-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                               | Cross 2024-H6 Mortgage Trust                                 | CUSIP: 227919AB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    335892 | PA      | $336183.80    | 0.09%             | 2069-09-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| GMRF Mortgage Acquisition Co., LLC                 | Galton Funding Mortgage Trust 2019-1                         | CUSIP: 36418WAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19653 | PA      | $19140.57     | 0.00%             | 2059-02-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                          | BPR Trust 2021-TY                                            | CUSIP: 05592AAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $448330.46    | 0.11%             | 2038-09-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| World OMNI Select Auto Trust                       | World Omni Select Auto Trust 2021-A                          | CUSIP: 98163HAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    180000 | PA      | $179742.15    | 0.05%             | 2027-11-15      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                            | ONE 2021-PARK Mortgage Trust                                 | CUSIP: 682413AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    405000 | PA      | $386124.29    | 0.10%             | 2036-03-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                         | Intel Corp                                                   | CUSIP: 458140BY5<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    325000 | PA      | $322499.05    | 0.08%             | 2027-08-05      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes            | Santander Bank Auto Credit-Linked Notes Series 2023-B        | CUSIP: 80290CCD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    159523 | PA      | $161949.11    | 0.04%             | 2033-12-15      | Fixed         | 6.66%                 | No            |                  2 | On Loan: No      |
| MFRA TRUST                                         | MFA 2021-NQM2 Trust                                          | CUSIP: 55283WAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84401 | PA      | $75148.13     | 0.02%             | 2064-11-25      | Variable      | 1.32%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                             | General Motors Financial Co Inc                              | CUSIP: 37045XEF9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301652.52    | 0.08%             | 2026-04-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ELARA HGV TIMESHARE ISSUER                         | Elara HGV Timeshare Issuer 2023-A LLC                        | CUSIP: 28415AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    101406 | PA      | $104735.12    | 0.03%             | 2038-02-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418UEL4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27930 | PA      | $28603.64     | 0.01%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                  | Imperial Fund Mortgage Trust 2022-NQM4                       | CUSIP: 45276NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    592964 | PA      | $590670.17    | 0.15%             | 2067-06-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132DWDZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    440423 | PA      | $387300.94    | 0.10%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trust                    | CSAIL 2015-C3 Commercial Mortgage Trust                      | CUSIP: 12635FAT1<br>LEI: 549300ZAGI6FKGY8O078 | Long             | ABS-MBS          | CORP              | US        |      2918 | PA      | $2911.71      | 0.00%             | 2048-08-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                | Starwood Mortgage Residential Trust 2020-1                   | CUSIP: 85573AAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    124707 | PA      | $119201.93    | 0.03%             | 2050-02-25      | Variable      | 2.41%                 | No            |                  2 | On Loan: No      |
| KOREA HOUSING FINANCE CO                           | Korea Housing Finance Corp                                   | CUSIP: 50065RAK3<br>LEI: 9884002AAOBT56QW9B80 | Long             | DBT              | NUSS              | KR        |    960000 | PA      | $972929.36    | 0.25%             | 2028-02-24      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust           | Ford Credit Floorplan Master Owner Trust A                   | CUSIP: 34528QJC9<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    280000 | PA      | $284203.36    | 0.07%             | 2029-04-15      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                            | Canadian Natural Resources Ltd                               | CUSIP: 136385AX9<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    440000 | PA      | $437087.90    | 0.11%             | 2027-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                                         | FedEx Corp                                                   | CUSIP: 31428XBF2<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    913000 | PA      | $908474.93    | 0.23%             | 2026-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust            | Securitized Term Auto Receivables Trust 2025-B               | CUSIP: 81378WAC7<br>LEI: 254900DVX7EZK9JMUP63 | Long             | ABS-O            | CORP              | CA        |     42943 | PA      | $43269.28     | 0.01%             | 2032-12-29      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                               | BlueMountain CLO 2018-3 Ltd                                  | CUSIP: 09630AAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    274092 | PA      | $274442.62    | 0.07%             | 2030-10-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                    | MVW 2021-1W LLC                                              | CUSIP: 55389TAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     34008 | PA      | $32731.79     | 0.01%             | 2041-01-22      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL                           | Equitable America Global Funding                             | CUSIP: 29446Q2A0<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |    465000 | PA      | $470439.78    | 0.12%             | 2028-06-09      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                           | Santander UK Group Holdings PLC                              | CUSIP: 80281LAX3<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    285000 | PA      | $284206.44    | 0.07%             | 2029-09-22      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                            | Dell International LLC / EMC Corp                            | CUSIP: 24703TAL0<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    540000 | PA      | $547917.62    | 0.14%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Clarus Capital Funding LLC                         | Clarus Capital Funding 2024-1 LLC                            | CUSIP: 18271JAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155000 | PA      | $155375.74    | 0.04%             | 2032-08-20      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                            | GA Global Funding Trust                                      | CUSIP: 36143L2N4<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    395000 | PA      | $395799.86    | 0.10%             | 2027-09-23      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                       | Hilton Grand Vacations Trust 2025-1                          | CUSIP: 43283CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    201784 | PA      | $204362.94    | 0.05%             | 2042-05-27      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                                     | Romark CLO II Ltd                                            | CUSIP: 77587EAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1075000 | PA      | $1076863.19   | 0.27%             | 2031-07-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Refi Loan Trust 2019-D             | CUSIP: 63941CAB9<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    105813 | PA      | $102971.39    | 0.03%             | 2059-12-15      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| MVW 2020-1 LLC                                     | MVW 2020-1 LLC                                               | CUSIP: 55400EAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     74710 | PA      | $73460.63     | 0.02%             | 2037-10-20      | Fixed         | 2.73%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                        | Fortress Credit BSL XVIII Ltd                                | CUSIP: 34965DAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $251242.47    | 0.06%             | 2036-04-23      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| DLLST LLC                                          | DLLST 2024-1 LLC                                             | CUSIP: 23346HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    132440 | PA      | $133021.75    | 0.03%             | 2027-08-20      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Notes                                          | CUSIP: 91282CNV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25490000 | PA      | $25489004.36  | 6.49%             | 2027-08-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                            | Reinsurance Group of America Inc                             | CUSIP: 759351AM1<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |    428000 | PA      | $427561.19    | 0.11%             | 2026-09-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617G1SL3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     51430 | PA      | $48632.05     | 0.01%             | 2048-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                         | Humana Inc                                                   | CUSIP: 444859BZ4<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    495000 | PA      | $515605.35    | 0.13%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                   | SMB Private Education Loan Trust 2025-A                      | CUSIP: 83207EAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    307503 | PA      | $312978.86    | 0.08%             | 2054-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                             | US 2YR NOTE (CBT) DEC25                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       400 | NC      | $28377.54     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                           | Avolon Holdings Funding Ltd                                  | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    185000 | PA      | $192976.89    | 0.05%             | 2028-05-04      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QCXQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15592 | PA      | $15289.28     | 0.00%             | 2050-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418CUA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    241696 | PA      | $224748.72    | 0.06%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                          | Boeing Co/The                                                | CUSIP: 097023CD5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    420000 | PA      | $405265.51    | 0.10%             | 2029-03-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                                 | Tricon Residential 2024-SFR2 Trust                           | CUSIP: 89616VAA8<br>LEI: 549300Z2X1L1L3MID765 | Long             | ABS-O            | CORP              | US        |    279458 | PA      | $280335.55    | 0.07%             | 2040-06-17      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                        | Extended Stay America Trust 2021-ESH                         | CUSIP: 30227FAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    404772 | PA      | $404772.50    | 0.10%             | 2038-07-15      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                           | Sabine Pass Liquefaction LLC                                 | CUSIP: 785592AV8<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    326000 | PA      | $327071.72    | 0.08%             | 2026-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                    | CVS Health Corp                                              | CUSIP: 126650DM9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1013685.15   | 0.26%             | 2027-08-21      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Refi Loan Trust 2019-E             | CUSIP: 63941MAB7<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    106453 | PA      | $104780.40    | 0.03%             | 2068-05-15      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| CK HUTCHISON INTL 25                               | CK Hutchison International 25 Ltd                            | CUSIP: 178909AA5<br>LEI: 25490034BP1Z4Y4HOG05 | Long             | DBT              | CORP              | KY        |    590000 | PA      | $588400.29    | 0.15%             | 2030-09-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140X4GD2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    210450 | PA      | $222225.26    | 0.06%             | 2049-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3138X6M85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     62165 | PA      | $61302.29     | 0.02%             | 2028-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                             | Bunge Ltd Finance Corp                                       | CUSIP: 120568BL3<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197642.01    | 0.05%             | 2026-04-21      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                   | LPL Holdings Inc                                             | CUSIP: 50212YAH7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    190000 | PA      | $202798.23    | 0.05%             | 2028-11-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust            | Securitized Term Auto Receivables Trust                      | CUSIP: 81378RAB0<br>LEI: 254900DVX7EZK9JMUP63 | Long             | ABS-O            | CORP              | CA        |    138209 | PA      | $139501.22    | 0.04%             | 2031-07-25      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                       | Dell Equipment Finance Trust 2023-3                          | CUSIP: 24702EAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101425.85    | 0.03%             | 2029-10-22      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                           | Intercontinental Exchange Inc                                | CUSIP: 45866FBB9<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    389000 | PA      | $383972.95    | 0.10%             | 2028-09-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                       | Stryker Corp                                                 | CUSIP: 863667BK6<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    640000 | PA      | $649346.91    | 0.17%             | 2028-02-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust          | SFS Auto Receivables Securitization Trust 2024-2             | CUSIP: 78397XAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $148841.69    | 0.04%             | 2030-08-20      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                             | Extra Space Storage LP                                       | CUSIP: 30225VAM9<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |    255000 | PA      | $253323.76    | 0.06%             | 2027-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                       | Huntington Bank Auto Credit-Linked Notes Series 2024-1       | CUSIP: 44644NAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    338114 | PA      | $343655.42    | 0.09%             | 2032-05-20      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Verdant Receivables LLC                            | Verdant Receivables 2023-1 LLC                               | CUSIP: 92339GAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    293975 | PA      | $299406.42    | 0.08%             | 2031-01-13      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| Owens Corning                                      | Owens Corning                                                | CUSIP: 690742AF8<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    257000 | PA      | $255017.42    | 0.06%             | 2026-08-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| DLLAA LLC                                          | DLLAA 2023-1 LLC                                             | CUSIP: 23292HAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    376109 | PA      | $380823.92    | 0.10%             | 2028-02-22      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2020-EXP3 Trust                                          | CUSIP: 67448WBD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    148148 | PA      | $147702.58    | 0.04%             | 2060-01-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                               | Enel Finance International NV                                | CUSIP: 29278GAM0<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    645000 | PA      | $632186.38    | 0.16%             | 2026-07-12      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                             | US 5YR NOTE (CBT) DEC25                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -77 | NC      | $-64.44       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY CO                                      | DTE Energy Co                                                | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    295000 | PA      | $298754.26    | 0.08%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CKE Restaurants Holdings Inc                       | Hardee's Funding LLC                                         | CUSIP: 411707AK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    138838 | PA      | $128746.76    | 0.03%             | 2051-06-20      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2021-R2                           | CUSIP: 92538DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105811 | PA      | $98725.46     | 0.03%             | 2064-02-25      | Variable      | 0.92%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                           | Huntington Ingalls Industries Inc                            | CUSIP: 446413BA3<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    155000 | PA      | $159733.92    | 0.04%             | 2030-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC                                | Cardinal Health Inc                                          | CUSIP: 14149YBU1<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    315000 | PA      | $315960.15    | 0.08%             | 2030-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae I Pool                                            | CUSIP: 3622AABW3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     86350 | PA      | $89738.94     | 0.02%             | 2045-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                             | BP Capital Markets PLC                                       | CUSIP: 05565QDH8<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    465000 | PA      | $460282.37    | 0.12%             | 2028-11-28      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36202FVG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    137650 | PA      | $138465.27    | 0.04%             | 2041-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QUM94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42775 | PA      | $43513.32     | 0.01%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I LLC                 | CyrusOne Data Centers Issuer I LLC                           | CUSIP: 23284BAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    755000 | PA      | $742353.52    | 0.19%             | 2049-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                 | Ally Bank Auto Credit-Linked Notes Series 2024-A             | CUSIP: 02007GZ63<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135354 | PA      | $137363.69    | 0.03%             | 2032-05-17      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                           | South Bow USA Infrastructure Holdings LLC                    | CUSIP: 83007CAB8<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    560000 | PA      | $564793.92    | 0.14%             | 2027-09-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                        | ALLY AUTO RECEIVABLES TRUST 2023-A                           | CUSIP: 02008NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    165680 | PA      | $167880.61    | 0.04%             | 2034-01-17      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Lease Trust                              | SBNA Auto Lease Trust 2024-B                                 | CUSIP: 78437VAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    540000 | PA      | $548280.09    | 0.14%             | 2028-12-20      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/Ford Credit           | Ford Credit Auto Owner Trust 2020-REV2                       | CUSIP: 34532JAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $309597.53    | 0.08%             | 2033-04-15      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                              | HPEFS Equipment Trust 2023-1                                 | CUSIP: 40443DAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355000 | PA      | $355558.66    | 0.09%             | 2028-04-20      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                | New Residential Mortgage Loan Trust 2025-NQM4                | CUSIP: 64832FAD8<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |    737011 | PA      | $741220.05    | 0.19%             | 2065-07-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                   | Crown Castle Inc                                             | CUSIP: 22822VBB6<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    395000 | PA      | $400563.01    | 0.10%             | 2028-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc                                         | Fiserv Inc                                                   | CUSIP: 337738AR9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    369000 | PA      | $368824.80    | 0.09%             | 2028-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                                 | RGA Global Funding                                           | CUSIP: 76209PAH6<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |    635000 | PA      | $635649.81    | 0.16%             | 2028-08-25      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140GYJX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42403 | PA      | $39458.70     | 0.01%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                                 | Diageo Capital PLC                                           | CUSIP: 25243YBG3<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |   1080000 | PA      | $1106621.92   | 0.28%             | 2027-10-24      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                   | Symphony CLO XXVI Ltd                                        | CUSIP: 87190GAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    215106 | PA      | $215447.22    | 0.05%             | 2033-04-20      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                           | Volkswagen Group of America Finance LLC                      | CUSIP: 928668CP5<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    320000 | PA      | $324180.62    | 0.08%             | 2028-03-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                          | Auxilior Term Funding 2023-1 LLC                             | CUSIP: 05335JAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    217577 | PA      | $219163.93    | 0.06%             | 2028-12-15      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| SAMMONS FINANCIAL GLOBAL                           | Sammons Financial Group Global Funding                       | CUSIP: 79587J2B8<br>LEI: 635400IPRNPM6HDHRS48 | Long             | DBT              | CORP              | US        |    275000 | PA      | $279656.99    | 0.07%             | 2028-01-10      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                     | NRG Energy Inc                                               | CUSIP: 629377CN0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    275000 | PA      | $273548.10    | 0.07%             | 2025-12-02      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MA'ADEN SUKUK LTD                                  | Ma'aden Sukuk Ltd                                            | CUSIP: 000000000<br>LEI: 254900QDNU6I6VA8UL14 | Long             | DBT              | CORP              | KY        |    230000 | PA      | $237334.76    | 0.06%             | 2030-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                              | Uber Technologies Inc                                        | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    921000 | PA      | $918387.40    | 0.23%             | 2029-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                   | COLT 2024-INV4 Mortgage Loan Trust                           | CUSIP: 19688QAC5<br>LEI: 2138008UGM66WOAUY633 | Long             | ABS-MBS          | CORP              | US        |    505780 | PA      | $510741.03    | 0.13%             | 2069-05-25      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Gold Pool                                        | CUSIP: 3128MJ3A6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    236395 | PA      | $220406.70    | 0.06%             | 2047-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust             | Santander Drive Auto Receivables Trust 2023-1                | CUSIP: 80287GAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    260000 | PA      | $261869.06    | 0.07%             | 2030-05-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Western Digital Corp                               | Western Digital Corp                                         | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214874.50    | 0.05%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31368HNV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     32206 | PA      | $32313.34     | 0.01%             | 2040-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | Goldman Sachs Group Inc/The                                  | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1072409.09   | 0.27%             | 2028-04-23      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Dollar General Corp                                | Dollar General Corp                                          | CUSIP: 256677AF2<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    632000 | PA      | $629310.28    | 0.16%             | 2028-05-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                | COMM 2014-CCRE19 Mortgage Trust                              | CUSIP: 12592GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5842 | PA      | $5695.83      | 0.00%             | 2047-08-10      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418EKT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    276671 | PA      | $269547.33    | 0.07%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Anthelion CLO                                      | Anthelion CLO 2025-1 Ltd                                     | CUSIP: 03676GAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    390000 | PA      | $390585.00    | 0.10%             | 2036-07-20      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                           | Volkswagen Group of America Finance LLC                      | CUSIP: 928668BV3<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    555000 | PA      | $562202.60    | 0.14%             | 2026-09-12      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TRANS-ALLEGHENY INTERSTA                           | Trans-Allegheny Interstate Line Co                           | CUSIP: 893045AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102530.11    | 0.03%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND                            | Brighthouse Financial Global Funding                         | CUSIP: 10921U2C1<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |    145000 | PA      | $142159.63    | 0.04%             | 2026-05-24      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140APFF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     39031 | PA      | $40488.78     | 0.01%             | 2054-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                         | MMAF Equipment Finance LLC 2021-A                            | CUSIP: 55317JAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $98531.32     | 0.03%             | 2043-11-13      | Fixed         | 1.19%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617N3MD5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     38888 | PA      | $36716.24     | 0.01%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                  | Sierra Timeshare 2021-2 Receivables Funding LLC              | CUSIP: 82652RAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50199 | PA      | $49594.43     | 0.01%             | 2038-09-20      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31425VMB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    195563 | PA      | $201549.23    | 0.05%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KT CORP                                            | KT Corp                                                      | CUSIP: 48268KAH4<br>LEI: 9884005ACF8449EANY26 | Long             | DBT              | CORP              | KR        |    200000 | PA      | $199555.11    | 0.05%             | 2028-02-02      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                | Exeter Automobile Receivables Trust 2025-4                   | CUSIP: 30167KAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135000 | PA      | $135510.69    | 0.03%             | 2030-05-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                           | Sabine Pass Liquefaction LLC                                 | CUSIP: 785592AU0<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    164000 | PA      | $163824.17    | 0.04%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140Y7D21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    789013 | PA      | $799471.36    | 0.20%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                           | EQT Corp                                                     | CUSIP: 26884LAM1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    400000 | PA      | $396334.84    | 0.10%             | 2026-05-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Arbys Funding LLC                                  | Arbys Funding LLC                                            | CUSIP: 038779AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    997500 | PA      | $963251.34    | 0.25%             | 2050-07-30      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| PEAC Solutions Receivables LLC                     | PEAC Solutions Receivables 2025-1 LLC                        | CUSIP: 69392HAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295000 | PA      | $297222.53    | 0.08%             | 2028-10-20      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp                                | Northern Trust Corp                                          | CUSIP: 665859AP9<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    330000 | PA      | $329835.54    | 0.08%             | 2025-10-30      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL                             | Banque Federative du Credit Mutuel SA                        | CUSIP: 06675FAZ0<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $400721.48    | 0.10%             | 2026-01-26      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust            | Hyundai Auto Lease Securitization Trust 2025-B               | CUSIP: 44935DAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $430660.83    | 0.11%             | 2029-08-15      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                             | Marriott International Inc/MD                                | CUSIP: 571903BM4<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    195000 | PA      | $197411.01    | 0.05%             | 2026-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                       | Centene Corp                                                 | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1490000 | PA      | $1444370.57   | 0.37%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOF                           | Take-Two Interactive Software Inc                            | CUSIP: 874054AJ8<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    585000 | PA      | $587045.09    | 0.15%             | 2026-03-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                      | Boeing Co/The                                                | CUSIP: 097023DP7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    807000 | PA      | $830336.55    | 0.21%             | 2027-05-01      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Woodside Finance Ltd                               | Woodside Finance Ltd                                         | CUSIP: 980236AN3<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |    229000 | PA      | $227631.97    | 0.06%             | 2026-09-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                         | Humana Inc                                                   | CUSIP: 444859BU5<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    140000 | PA      | $144417.77    | 0.04%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON                            | Bank of New York Mellon/The                                  | CUSIP: 06405LAH4<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | DBT              | CORP              | US        |    560000 | PA      | $569198.53    | 0.14%             | 2029-04-20      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                            | American Electric Power Co Inc                               | CUSIP: 025537AY7<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    675000 | PA      | $695982.58    | 0.18%             | 2029-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                           | Ford Motor Credit Co LLC                                     | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    485000 | PA      | $489906.40    | 0.12%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                       | Drive Auto Receivables Trust 2025-2                          | CUSIP: 262103AF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    195000 | PA      | $194565.21    | 0.05%             | 2032-09-15      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140X6C66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     40681 | PA      | $41661.88     | 0.01%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QT2T5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    378558 | PA      | $385094.25    | 0.10%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receivables Trust           | AmeriCredit Automobile Receivables Trust 2021-2              | CUSIP: 03066RAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    575000 | PA      | $569792.63    | 0.15%             | 2027-06-18      | Fixed         | 1.29%                 | No            |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Trust        | Navistar Financial Dealer Note Master Owner Trust            | CUSIP: 63938PBX6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $50341.62     | 0.01%             | 2029-04-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                  | Battalion CLO XII Ltd                                        | CUSIP: 07133RBA2<br>LEI: 549300JIE0P78OIZGS60 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250330.64    | 0.06%             | 2031-05-17      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                   | Societe Generale SA                                          | CUSIP: 83368RBV3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    365000 | PA      | $369883.82    | 0.09%             | 2028-01-19      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                   | LPL Holdings Inc                                             | CUSIP: 50212YAJ3<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    679000 | PA      | $691801.42    | 0.18%             | 2027-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| GRAY OAK PIPELINE LLC                              | Gray Oak Pipeline LLC                                        | CUSIP: 38937LAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    205000 | PA      | $204803.16    | 0.05%             | 2025-10-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| HCA INC                                            | HCA Inc                                                      | CUSIP: 40412BXG3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | STIV             | CORP              | US        |   1065000 | PA      | $1062814.19   | 0.27%             | 2025-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140AXVY0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     43855 | PA      | $45497.96     | 0.01%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | Hyundai Capital America                                      | CUSIP: 44891ADP9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    455000 | PA      | $458430.27    | 0.12%             | 2027-03-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Wind River CLO Ltd                                 | THL Credit Wind River 2019-3 Clo Ltd                         | CUSIP: 97314JAJ4<br>LEI: 549300QKM4OHZM4I5C40 | Long             | ABS-CBDO         | CORP              | KY        |    204469 | PA      | $204499.46    | 0.05%             | 2031-04-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                 | Credit Agricole SA                                           | CUSIP: 22535WAP2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    580000 | PA      | $591126.69    | 0.15%             | 2029-01-09      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                            | Flagstar Mortgage Trust 2020-1NV                             | CUSIP: 33851YAL0<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |     83721 | PA      | $80153.79     | 0.02%             | 2050-03-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Notes                                          | CUSIP: 91282CNE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3165000 | PA      | $3176003.31   | 0.81%             | 2027-05-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust                               | FirstKey Homes 2020-SFR2 Trust                               | CUSIP: 33767JAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    655000 | PA      | $651836.22    | 0.17%             | 2037-10-19      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                               | BAT International Finance PLC                                | CUSIP: 05530QAN0<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |    475000 | PA      | $469246.08    | 0.12%             | 2026-03-25      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust 2023-3                              | CUSIP: 67571CAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135000 | PA      | $137326.95    | 0.03%             | 2029-07-20      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                             | Marvell Technology Inc                                       | CUSIP: 573874AN4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    780000 | PA      | $792282.57    | 0.20%             | 2028-06-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                   | COLT 2021-1 Mortgage Loan Trust                              | CUSIP: 19688EAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    183814 | PA      | $159934.37    | 0.04%             | 2066-06-25      | Variable      | 1.17%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                            | Dryden 45 Senior Loan Fund                                   | CUSIP: 26244MBA9<br>LEI: 54930046L20VLJKPVV31 | Long             | ABS-CBDO         | CORP              | KY        |    515000 | PA      | $516298.42    | 0.13%             | 2030-10-15      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                            | Corebridge Global Funding                                    | CUSIP: 00138CBB3<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |    205000 | PA      | $207280.84    | 0.05%             | 2027-08-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QVGT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1702500 | PA      | $1723482.01   | 0.44%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31385JJC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6460 | PA      | $6782.60      | 0.00%             | 2032-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                        | Extended Stay America Trust 2025-ESH                         | CUSIP: 30227TAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    230000 | PA      | $230574.95    | 0.06%             | 2042-10-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                              | Amrize Finance US LLC                                        | CUSIP: 43475RAC0<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    205000 | PA      | $209526.55    | 0.05%             | 2030-04-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                        | ALLY AUTO RECEIVABLES TRUST 2023-A                           | CUSIP: 02008NAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19876 | PA      | $19922.63     | 0.01%             | 2034-01-17      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                   | Crown Castle Inc                                             | CUSIP: 22822VAL5<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |     80000 | PA      | $79609.60     | 0.02%             | 2029-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | Carmax Auto Owner Trust 2024-3                               | CUSIP: 14319GAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $127931.43    | 0.03%             | 2031-01-15      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                    | MVW 2019-2 LLC                                               | CUSIP: 55400DAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     26562 | PA      | $26354.24     | 0.01%             | 2038-10-20      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                              | Foundry JV Holdco LLC                                        | CUSIP: 350930AF0<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207534.13    | 0.05%             | 2031-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust           | Ford Credit Floorplan Master Owner Trust A                   | CUSIP: 34528QHZ0<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    440000 | PA      | $444032.82    | 0.11%             | 2028-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                     | Enterprise Fleet Financing 2024-3 LLC                        | CUSIP: 29375QAD0<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102189.52    | 0.03%             | 2031-03-20      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                      | DTE Energy Co                                                | CUSIP: 233331BJ5<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    430000 | PA      | $437451.00    | 0.11%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                        | BNP Paribas SA                                               | CUSIP: 09659W3C6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    935000 | PA      | $943707.82    | 0.24%             | 2029-05-09      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| MA'ADEN SUKUK LTD                                  | Ma'aden Sukuk Ltd                                            | CUSIP: 55407NAA0<br>LEI: 254900QDNU6I6VA8UL14 | Long             | DBT              | CORP              | KY        |    710000 | PA      | $732642.09    | 0.19%             | 2030-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                 | BMO 2024-5C4 Mortgage Trust                                  | CUSIP: 09660SAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    535000 | PA      | $569736.80    | 0.15%             | 2057-05-15      | Variable      | 6.53%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36202ENN5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     30349 | PA      | $31374.64     | 0.01%             | 2037-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418EHJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    847580 | PA      | $801713.39    | 0.20%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31402CVW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21400 | PA      | $22209.10     | 0.01%             | 2034-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Jack in the Box Funding, LLC                       | Jack in the Box Funding LLC                                  | CUSIP: 466365AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    385950 | PA      | $375079.53    | 0.10%             | 2052-02-26      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ATLASSIAN CORPORATION                              | Atlassian Corp                                               | CUSIP: 049468AA9<br>LEI: 549300V7ZY5P02D2MY38 | Long             | DBT              | CORP              | US        |    215000 | PA      | $221032.25    | 0.06%             | 2029-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC                                        | Ovintiv Inc                                                  | CUSIP: 651290AR9<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210023.18    | 0.05%             | 2026-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                           | AT&T Inc                                                     | CUSIP: 00206RGL0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    205000 | PA      | $204847.92    | 0.05%             | 2028-02-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                | Sherwin-Williams Co/The                                      | CUSIP: 824348BS4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    440000 | PA      | $444222.88    | 0.11%             | 2028-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2024-GPA3                       | CUSIP: 123910AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    287932 | PA      | $288741.99    | 0.07%             | 2039-12-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FUNDING LLC                             | NXP BV / NXP Funding LLC                                     | CUSIP: 62947QBB3<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | XX        |     75000 | PA      | $75127.00     | 0.02%             | 2026-03-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                   | NMEF Funding 2025-A LLC                                      | CUSIP: 62919VAB7<br>LEI: 549300LKWL3P0UPHKL72 | Long             | ABS-O            | CORP              | US        |    260224 | PA      | $261405.43    | 0.07%             | 2032-07-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                           | Vistra Operations Co LLC                                     | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    328000 | PA      | $329885.02    | 0.08%             | 2026-12-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140XRDC6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    783595 | PA      | $780409.11    | 0.20%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Securitized Term Auto Receivables Trust            | Securitized Term Auto Receivables Trust 2025-B               | CUSIP: 81378WAB9<br>LEI: 254900DVX7EZK9JMUP63 | Long             | ABS-O            | CORP              | CA        |    111652 | PA      | $112598.59    | 0.03%             | 2032-12-29      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                               | Bank of America Corp                                         | CUSIP: 06051GLE7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    395000 | PA      | $395725.54    | 0.10%             | 2027-01-20      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418EAQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    104910 | PA      | $96483.87     | 0.02%             | 2052-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Galton Funding Mortgage Trust 2020-H1              | Galton Funding Mortgage Trust 2020-H1                        | CUSIP: 36418HAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    285000 | PA      | $235118.93    | 0.06%             | 2060-01-25      | Variable      | 2.83%                 | No            |                  2 | On Loan: No      |
| General Motors                                     | GMF Floorplan Owner Revolving Trust                          | CUSIP: 361886DS0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525000 | PA      | $531451.83    | 0.14%             | 2029-11-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE TOWERS LLC                            | Crown Castle Towers LLC                                      | CUSIP: 22822RBH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $172955.37    | 0.04%             | 2028-07-15      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                           | Madison Park Funding XLII Ltd                                | CUSIP: 55822RAA8<br>LEI: 549300YWZ8HFDYP0MR16 | Long             | ABS-CBDO         | CORP              | KY        |    256536 | PA      | $256535.62    | 0.07%             | 2030-11-21      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                             | Daimler Truck Finance North America LLC                      | CUSIP: 233853BG4<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    370000 | PA      | $370917.24    | 0.09%             | 2027-08-12      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                 | EFMT 2025-INV2                                               | CUSIP: 281914AA9<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |    190845 | PA      | $191825.13    | 0.05%             | 2070-05-26      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3138EJ4B1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     51789 | PA      | $54576.08     | 0.01%             | 2040-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                          | Morgan Stanley Bank of America Merrill Lynch Trust 2025-C35  | CUSIP: 61779CAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     64355 | PA      | $64574.31     | 0.02%             | 2058-08-15      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140JLY73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8648 | PA      | $8273.68      | 0.00%             | 2049-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ELEMENT FLEET MANAGEMENT                           | Element Fleet Management Corp                                | CUSIP: 286181AM4<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |    355000 | PA      | $361694.86    | 0.09%             | 2027-03-13      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                                  | CBRE Services Inc                                            | CUSIP: 12505BAJ9<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    210000 | PA      | $213335.05    | 0.05%             | 2030-06-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| KOREA ELECTRIC POWER CO                            | Korea Electric Power Corp                                    | CUSIP: 500631AX4<br>LEI: 988400QG33WS7JEIV602 | Long             | DBT              | NUSS              | KR        |   1000000 | PA      | $1006119.53   | 0.26%             | 2026-04-06      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                              | HPEFS Equipment Trust 2023-2                                 | CUSIP: 44328UAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $125763.04    | 0.03%             | 2031-01-21      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                             | Rockford Tower CLO 2019-2 Ltd                                | CUSIP: 77341GAS9<br>LEI: 549300IG5M07NI4QKK80 | Long             | ABS-CBDO         | CORP              | KY        |    814297 | PA      | $815273.79    | 0.21%             | 2032-08-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                | Affirm Master Trust                                          | CUSIP: 00833BAH1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355000 | PA      | $357408.07    | 0.09%             | 2033-07-15      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                              | Micron Technology Inc                                        | CUSIP: 595112CA9<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1118954.41   | 0.28%             | 2028-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                | Exeter Automobile Receivables Trust 2022-5                   | CUSIP: 30167FAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    199078 | PA      | $199338.21    | 0.05%             | 2027-12-15      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO Ltd.                              | Marble Point CLO XIV Ltd                                     | CUSIP: 56608KAW3<br>LEI: 254900N4UCG37B1HFL93 | Long             | ABS-CBDO         | CORP              | KY        |    932471 | PA      | $929878.84    | 0.24%             | 2032-01-20      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                              | Becton Dickinson & Co                                        | CUSIP: 075887CQ0<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    805000 | PA      | $815149.66    | 0.21%             | 2028-02-13      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Trust                  | World Omni Auto Receivables Trust 2022-A                     | CUSIP: 98164GAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    325000 | PA      | $322216.67    | 0.08%             | 2028-09-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| ERAC USA FINANCE LLC                               | ERAC USA Finance LLC                                         | CUSIP: 26884TAY8<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |    280000 | PA      | $287172.19    | 0.07%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Finance of America HECM Buyout                     | Finance of America HECM Buyout 2024-HB1                      | CUSIP: 31737DAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    435805 | PA      | $434328.60    | 0.11%             | 2034-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140EU4G1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    162392 | PA      | $152130.46    | 0.04%             | 2046-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140XQ2C0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2134839 | PA      | $2127005.56   | 0.54%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                    | Danske Bank A/S                                              | CUSIP: 23636ABG5<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    390000 | PA      | $396643.79    | 0.10%             | 2028-03-01      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC.                                  | Crown Castle Inc                                             | CUSIP: 22823PXP3<br>LEI: 54930012H97VSM0I2R19 | Long             | STIV             |  | US        |   1085000 | PA      | $1081785.90   | 0.28%             | 2025-10-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                       | Huntington Bank Auto Credit-Linked Notes Series 2024-2       | CUSIP: 44644NAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    393609 | PA      | $397430.58    | 0.10%             | 2032-10-20      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| Hardee's Funding LLC and Carls' Jr Funding LLC     | Hardee's Funding LLC                                         | CUSIP: 411707AH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1071562 | PA      | $1033317.15   | 0.26%             | 2050-12-20      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| ELARA HGV TIMESHARE ISSUER                         | Elara HGV Timeshare Issuer 2023-A LLC                        | CUSIP: 28415AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    139236 | PA      | $143781.80    | 0.04%             | 2038-02-25      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                            | HCA Inc                                                      | CUSIP: 404121AJ4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    870000 | PA      | $897694.15    | 0.23%             | 2028-09-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                | American Express Co                                          | CUSIP: 025816DP1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    215000 | PA      | $217885.28    | 0.06%             | 2028-02-16      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | CarMax Auto Owner Trust 2024-2                               | CUSIP: 14319EAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $103815.73    | 0.03%             | 2030-10-15      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| Blue Owl Asset Leasing Trust                       | Blue Owl Asset Leasing Trust 2024-1 LLC                      | CUSIP: 095921AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    272306 | PA      | $273410.95    | 0.07%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                       | NiSource Inc                                                 | CUSIP: 65473PAN5<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133374.71    | 0.03%             | 2028-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ANALOG DEVICES INC                                 | Analog Devices Inc                                           | CUSIP: 032654AU9<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |    230000 | PA      | $215396.90    | 0.05%             | 2028-10-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receivables LLC             | Amur Equipment Finance Receivables X LLC                     | CUSIP: 03236VAF8<br>LEI: 549300K5Y88MV8B4M421 | Long             | ABS-O            | CORP              | US        |    415000 | PA      | $414978.84    | 0.11%             | 2028-12-20      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                             | American Honda Finance Corp                                  | CUSIP: 02665WEV9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    675000 | PA      | $703748.57    | 0.18%             | 2028-11-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179XBS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    891302 | PA      | $814110.45    | 0.21%             | 2052-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418C4X9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    120712 | PA      | $119013.99    | 0.03%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                           | Benchmark 2025-B41 Mortgage Trust                            | CUSIP: 081935AU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    189131 | PA      | $189508.93    | 0.05%             | 2068-07-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                                     | Solventum Corp                                               | CUSIP: 83444MAN1<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    302000 | PA      | $306900.46    | 0.08%             | 2027-02-25      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | Hyundai Capital America                                      | CUSIP: 44891ACT2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202139.93    | 0.05%             | 2027-01-08      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                             | NXP BV / NXP Funding LLC / NXP USA Inc                       | CUSIP: 62954HAX6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    105000 | PA      | $103358.67    | 0.03%             | 2027-05-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | Hyundai Capital America                                      | CUSIP: 44891ACD7<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    350000 | PA      | $359858.14    | 0.09%             | 2028-03-30      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                             | US ULTRA BOND CBT DEC25                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -24 | NC      | $-71096.59    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN UNION CO/THE                               | Western Union Co/The                                         | CUSIP: 959802AZ2<br>LEI: 28ID94QU1140NC23S047 | Long             | DBT              | CORP              | US        |   1401000 | PA      | $1380956.92   | 0.35%             | 2026-03-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                           | Rogers Communications Inc                                    | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    815000 | PA      | $803377.61    | 0.20%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                             | Northwoods Capital XIV-B Ltd                                 | CUSIP: 66860CAL7<br>LEI: 549300QQDSTCZ860F679 | Long             | ABS-CBDO         | CORP              | KY        |    524670 | PA      | $525360.27    | 0.13%             | 2031-11-13      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                           | OZLM XXI Ltd                                                 | CUSIP: 67112AAJ0<br>LEI: 5493002HF6D1C4B1AK86 | Long             | ABS-CBDO         | CORP              | KY        |    150252 | PA      | $150252.19    | 0.04%             | 2031-01-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                  | Citigroup Mortgage Loan Trust Inc                            | CUSIP: 17328PAQ6<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    209176 | PA      | $180427.97    | 0.05%             | 2050-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                             | Williams Cos Inc/The                                         | CUSIP: 969457CH1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1064773.15   | 0.27%             | 2026-03-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | Barclays PLC                                                 | CUSIP: 06738EDD4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    335000 | PA      | $335591.78    | 0.09%             | 2029-11-11      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust          | SFS Auto Receivables Securitization Trust 2024-1             | CUSIP: 78435VAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     55000 | PA      | $56303.97     | 0.01%             | 2032-01-20      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Diageo Capital PLC                                 | Diageo Capital PLC                                           | CUSIP: 25243YAZ2<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |   1080000 | PA      | $1076294.22   | 0.27%             | 2028-05-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PENN Commercial Mortgage Trust                     | PENN Commercial Mortgage Trust 2025-P11                      | CUSIP: 69382VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    480000 | PA      | $488520.67    | 0.12%             | 2042-08-10      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                           | Madison Park Funding XXIII Ltd                               | CUSIP: 55820TAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    387867 | PA      | $387892.14    | 0.10%             | 2031-07-27      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| Santander Consumer Auto Receivables Trust          | Santander Consumer Auto Receivables Trust 2021-A             | CUSIP: 80282YAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    180766 | PA      | $180231.90    | 0.05%             | 2027-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                         | US Bancorp                                                   | CUSIP: 91159HJH4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    320000 | PA      | $320215.03    | 0.08%             | 2026-10-21      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                 | Ellington Financial Mortgage Trust 2021-3                    | CUSIP: 31573JAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    128492 | PA      | $108197.31    | 0.03%             | 2066-09-25      | Variable      | 1.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3133CWHU9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     64352 | PA      | $66685.59     | 0.02%             | 2054-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                 | Ellington Financial Mortgage Trust 2019-2                    | CUSIP: 31573TAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     23343 | PA      | $22300.00     | 0.01%             | 2059-11-25      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Trust Llc                            | SCF Equipment Trust 2016-1 LLC                               | CUSIP: 78437DAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $307040.28    | 0.08%             | 2033-11-21      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                              | ARI Fleet Lease Trust 2024-B                                 | CUSIP: 04033HAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    282660 | PA      | $284912.87    | 0.07%             | 2033-04-15      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Gold Pool                                        | CUSIP: 31335CHF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     22124 | PA      | $23172.69     | 0.01%             | 2039-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                          | ONEOK Inc                                                    | CUSIP: 682680CL5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    944000 | PA      | $947190.32    | 0.24%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                             | Williams Cos Inc/The                                         | CUSIP: 969457CL2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    330000 | PA      | $335892.18    | 0.09%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                          | IQVIA Inc                                                    | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    255000 | PA      | $268421.93    | 0.07%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                           | Ford Motor Credit Co LLC                                     | CUSIP: 345397G72<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    300000 | PA      | $305138.11    | 0.08%             | 2028-03-20      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                              | Uber Technologies Inc                                        | CUSIP: 90353TAT7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    545000 | PA      | $540022.62    | 0.14%             | 2031-01-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                | American Express Co                                          | CUSIP: 025816DV8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    350000 | PA      | $355971.90    | 0.09%             | 2028-07-26      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                   | Connecticut Avenue Securities Series 2025-R01                | CUSIP: 20755JAB9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    353325 | PA      | $353435.91    | 0.09%             | 2045-01-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Wingspire Equipment Finance LLC                    | Wingspire Equipment Finance 2025-1 LLC                       | CUSIP: 97415CAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99956.25     | 0.03%             | 2033-09-20      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| General Motors                                     | GMF Floorplan Owner Revolving Trust                          | CUSIP: 361886DQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215000 | PA      | $218027.89    | 0.06%             | 2029-11-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                    | MVW 2023-2 LLC                                               | CUSIP: 55400WAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     73917 | PA      | $75856.84     | 0.02%             | 2040-11-20      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                  | Sierra Timeshare 2021-2 Receivables Funding LLC              | CUSIP: 82652RAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    104860 | PA      | $103439.34    | 0.03%             | 2038-09-20      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust          | SFS Auto Receivables Securitization Trust 2024-1             | CUSIP: 78435VAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    144014 | PA      | $144967.70    | 0.04%             | 2029-05-21      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC           | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RKX1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99708.96     | 0.03%             | 2030-02-20      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD                           | Aspen Insurance Holdings Ltd                                 | CUSIP: 04530DAE2<br>LEI: 549300YX6HECG9XQCQ75 | Long             | DBT              | CORP              | BM        |    255000 | PA      | $266891.15    | 0.07%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MASSMUTUAL GLOBAL FUNDIN                           | MassMutual Global Funding II                                 | CUSIP: 57629W4S6<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1035947.03   | 0.26%             | 2027-04-09      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                           | International Business Machines Corp                         | CUSIP: 459200LF6<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |   1376000 | PA      | $1395653.19   | 0.36%             | 2028-02-10      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                         | Progress Residential 2021-SFR8 Trust                         | CUSIP: 74333TAE9<br>LEI: 5493002EEQ4GX2578787 | Long             | ABS-O            | CORP              | US        |    460000 | PA      | $449773.51    | 0.11%             | 2038-10-17      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust           | Ford Credit Floorplan Master Owner Trust A                   | CUSIP: 34528QHX5<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    155000 | PA      | $155739.71    | 0.04%             | 2028-05-15      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| DOLLAR GENERAL CORP                                | Dollar General Corp                                          | CUSIP: 256677AK1<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    310000 | PA      | $312629.92    | 0.08%             | 2027-11-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617MHSU1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     11805 | PA      | $11155.17     | 0.00%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Notes                                          | CUSIP: 91282CMY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16755000 | PA      | $16778561.72  | 4.27%             | 2027-04-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                         | BFLD Commercial Mortgage Trust 2025-5MW                      | CUSIP: 088921AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155000 | PA      | $154278.12    | 0.04%             | 2042-10-10      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                             | Daimler Truck Finance North America LLC                      | CUSIP: 233853AP5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    165000 | PA      | $165328.34    | 0.04%             | 2026-01-16      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HIGHMARK INC                                       | Highmark Inc                                                 | CUSIP: 431116AD4<br>LEI: 549300B6868ZXXEB2Y57 | Long             | DBT              | CORP              | US        |    205000 | PA      | $201087.46    | 0.05%             | 2026-05-10      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                        | Southern Co/The                                              | CUSIP: 842587DD6<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    350000 | PA      | $355919.72    | 0.09%             | 2027-08-01      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                           | Capital One Financial Corp                                   | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    255000 | PA      | $267498.07    | 0.07%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140X4T22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14800 | PA      | $14932.43     | 0.00%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                           | Penske Truck Leasing Co Lp / PTL Finance Corp                | CUSIP: 709599BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $278329.91    | 0.07%             | 2027-01-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2023-6                            | CUSIP: 92539XAB0<br>LEI: 984500915DDB7T2ACA27 | Long             | ABS-MBS          | CORP              | US        |    165444 | PA      | $167408.09    | 0.04%             | 2068-09-25      | Variable      | 6.94%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO                           | Manufacturers & Traders Trust Co                             | CUSIP: 564760CC8<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    440000 | PA      | $444238.51    | 0.11%             | 2028-07-06      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                               | BAT International Finance PLC                                | CUSIP: 05530QAP5<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |   1010000 | PA      | $1016090.93   | 0.26%             | 2028-03-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                          | ONEOK Inc                                                    | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    410000 | PA      | $415193.43    | 0.11%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                          | Towd Point Mortgage Trust 2018-1                             | CUSIP: 89176EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12849 | PA      | $12732.59     | 0.00%             | 2058-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trust                    | Carmax Select Receivables Trust 2024-A                       | CUSIP: 14319FAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135000 | PA      | $137215.71    | 0.03%             | 2030-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31427MW49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    119339 | PA      | $122073.04    | 0.03%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3138AFC24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     58805 | PA      | $58837.75     | 0.01%             | 2041-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31402DGM6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     60103 | PA      | $62506.10     | 0.02%             | 2034-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co LLC                  | Sierra Timeshare 2025-2 Receivables Funding LLC              | CUSIP: 82653HAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    204246 | PA      | $205789.75    | 0.05%             | 2044-04-20      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                        | Fortress Credit BSL VIII Ltd                                 | CUSIP: 34962DAQ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    570000 | PA      | $571311.14    | 0.15%             | 2032-10-20      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                               | Bank of America Corp                                         | CUSIP: 06051GMT3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    760000 | PA      | $769415.72    | 0.20%             | 2029-05-09      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| JAPAN TOBACCO INC                                  | Japan Tobacco Inc                                            | CUSIP: 471105AC0<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | DBT              | CORP              | JP        |    870000 | PA      | $884575.78    | 0.23%             | 2028-05-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BINOM Securitization Trust                         | BINOM Securitization Trust 2021-INV1                         | CUSIP: 05552UAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    128073 | PA      | $117961.37    | 0.03%             | 2056-06-25      | Variable      | 2.63%                 | No            |                  2 | On Loan: No      |
| HCA INC                                            | HCA Inc                                                      | CUSIP: 404119CH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    580000 | PA      | $571844.73    | 0.15%             | 2027-03-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                               | Freeport-McMoRan Inc                                         | CUSIP: 35671DCD5<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    119000 | PA      | $120542.49    | 0.03%             | 2029-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DARDEN RESTAURANTS INC                             | Darden Restaurants Inc                                       | CUSIP: 237194AP0<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |    560000 | PA      | $562144.92    | 0.14%             | 2027-10-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36202D4N8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    118909 | PA      | $120003.67    | 0.03%             | 2034-03-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | Goldman Sachs Group Inc/The                                  | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    590000 | PA      | $610122.35    | 0.16%             | 2031-04-23      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2020-INV1                           | CUSIP: 46591VBH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56170 | PA      | $50422.22     | 0.01%             | 2050-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                   | Crown Castle Inc                                             | CUSIP: 22822VBD2<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    295000 | PA      | $306530.09    | 0.08%             | 2029-06-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| DLLST LLC                                          | DLLST 2024-1 LLC                                             | CUSIP: 23346HAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40000 | PA      | $40436.30     | 0.01%             | 2030-04-22      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                           | Penske Truck Leasing Co Lp / PTL Finance Corp                | CUSIP: 709599AW4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $118751.38    | 0.03%             | 2026-11-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                    | MVW 2023-1 LLC                                               | CUSIP: 62848PAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    346879 | PA      | $350168.26    | 0.09%             | 2040-10-20      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31427NWZ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    623599 | PA      | $646245.33    | 0.16%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII                | Bayview Opportunity Master Fund VII 2024-CAR1 LLC            | CUSIP: 07336QAA0<br>LEI: 254900S53K9VTUR1UX42 | Long             | ABS-O            | CORP              | US        |    122820 | PA      | $123151.46    | 0.03%             | 2031-12-26      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GROUP HOLDINGS                           | Fortitude Group Holdings LLC                                 | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |    640000 | PA      | $664511.11    | 0.17%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL                           | Jackson National Life Global Funding                         | CUSIP: 46849LVA6<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |    355000 | PA      | $362705.30    | 0.09%             | 2027-07-02      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust 2023-3                              | CUSIP: 67571CAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102547.58    | 0.03%             | 2029-08-20      | Fixed         | 6.74%                 | No            |                  2 | On Loan: No      |
| Post Road Equipment Finance                        | Post Road Equipment Finance 2024-1 LLC                       | CUSIP: 737473AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     44295 | PA      | $44522.99     | 0.01%             | 2029-11-15      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| BANK MANDIRI PT                                    | Bank Mandiri Persero Tbk PT                                  | CUSIP: 000000000<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | DBT              | CORP              | ID        |    970000 | PA      | $976097.79    | 0.25%             | 2026-04-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                           | FMC Corp                                                     | CUSIP: 34410WXL1<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | STIV             | CORP              | US        |   1065000 | PA      | $1062084.03   | 0.27%             | 2025-10-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                 | Banco Santander SA                                           | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $407224.98    | 0.10%             | 2028-03-14      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132DVE92<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    347837 | PA      | $356436.34    | 0.09%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank5                                              | BANK5 2024-5YR11                                             | CUSIP: 06644WBL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $338805.51    | 0.09%             | 2057-11-15      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                        | Fortress Credit BSL XV Ltd                                   | CUSIP: 34964WAN2<br>LEI: 254900VHYDP7XYPMH337 | Long             | ABS-CBDO         | CORP              | JE        |    460000 | PA      | $461772.18    | 0.12%             | 2033-10-18      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                 | Energy Transfer LP                                           | CUSIP: 29273VAZ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    320000 | PA      | $329283.68    | 0.08%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                           | Angel Oak Mortgage Trust 2021-1                              | CUSIP: 03465CAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     59277 | PA      | $51894.67     | 0.01%             | 2066-01-25      | Variable      | 1.12%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                | COMM 2014-CCRE15 Mortgage Trust                              | CUSIP: 12591RBD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    217122 | PA      | $212252.15    | 0.05%             | 2047-02-10      | Variable      | 4.02%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac STACR REMIC Trust 2021-DNA7                      | CUSIP: 35564KMA4<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | USGSE             | US        |     49174 | PA      | $49144.02     | 0.01%             | 2041-11-25      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617MLYN1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     43961 | PA      | $41570.74     | 0.01%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                          | Boeing Co/The                                                | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    330000 | PA      | $327500.70    | 0.08%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                 | Ally Bank Auto Credit-Linked Notes Series 2024-B             | CUSIP: 02007G4D2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    164521 | PA      | $165329.19    | 0.04%             | 2032-09-15      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                           | Avolon Holdings Funding Ltd                                  | CUSIP: 05401AAM3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    245000 | PA      | $242476.74    | 0.06%             | 2026-02-21      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                           | Angel Oak Mortgage Trust 2021-2                              | CUSIP: 03465DAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     63376 | PA      | $54947.08     | 0.01%             | 2066-04-25      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                           | Celanese US Holdings LLC                                     | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    275000 | PA      | $282070.49    | 0.07%             | 2027-07-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2024-SLCT                       | CUSIP: 12433JAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    190000 | PA      | $189999.37    | 0.05%             | 2042-01-15      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179TQS7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     21136 | PA      | $21475.50     | 0.01%             | 2048-01-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Corp. Nacional del Cobre de Chile                  | Corp. Nacional del Cobre de Chile                            | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $197450.00    | 0.05%             | 2027-08-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179MVS6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2490 | PA      | $2361.93      | 0.00%             | 2042-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CNO GLOBAL FUNDING                                 | CNO Global Funding                                           | CUSIP: 18977W2G4<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |    218000 | PA      | $220816.60    | 0.06%             | 2027-12-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                 | Energy Transfer LP                                           | CUSIP: 29273VAR1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    875000 | PA      | $891307.36    | 0.23%             | 2026-12-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                            | Corebridge Global Funding                                    | CUSIP: 00138CAX6<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |    185000 | PA      | $190197.17    | 0.05%             | 2029-01-12      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                           | National Rural Utilities Cooperative Finance Corp            | CUSIP: 63743HFT4<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    241000 | PA      | $241859.73    | 0.06%             | 2027-09-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust 2024-3                              | CUSIP: 67571GAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    140000 | PA      | $142629.45    | 0.04%             | 2031-10-20      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                         | MFA 2021-INV1 Trust                                          | CUSIP: 552747AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     35472 | PA      | $34473.73     | 0.01%             | 2056-01-25      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE                           | Equitable Financial Life Global Funding                      | CUSIP: 29449WAL1<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |    305000 | PA      | $297088.12    | 0.08%             | 2026-11-12      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2018-CH3                              | CUSIP: 81746WAU2<br>LEI: 549300FECQ7XLTBL1027 | Long             | ABS-MBS          | CORP              | US        |       731 | PA      | $724.33       | 0.00%             | 2048-08-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | Wells Fargo & Co                                             | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1545000 | PA      | $1574419.21   | 0.40%             | 2029-04-23      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617MRJ39<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     16333 | PA      | $15434.71     | 0.00%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                 | EFMT 2024-INV2                                               | CUSIP: 26844LAA6<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |    437845 | PA      | $436798.83    | 0.11%             | 2069-10-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                     | Enterprise Fleet Financing 2024-3 LLC                        | CUSIP: 29375QAC2<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $152288.39    | 0.04%             | 2028-08-21      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179VV31<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    121893 | PA      | $116168.95    | 0.03%             | 2050-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                             | Philip Morris International Inc                              | CUSIP: 718172CV9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    163000 | PA      | $166534.54    | 0.04%             | 2027-11-17      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                          | Towd Point Mortgage Trust 2022-4                             | CUSIP: 89180YAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    652063 | PA      | $626317.36    | 0.16%             | 2062-09-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                         | Driven Brands Funding LLC                                    | CUSIP: 26208LAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355779 | PA      | $355628.63    | 0.09%             | 2049-04-20      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC           | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RFX7<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    165000 | PA      | $165662.81    | 0.04%             | 2027-04-20      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| Intel Corp                                         | Intel Corp                                                   | CUSIP: 458140AX8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    188000 | PA      | $184966.11    | 0.05%             | 2027-05-11      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp                                   | FirstEnergy Corp                                             | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    678000 | PA      | $673841.95    | 0.17%             | 2027-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                        | HOMES 2025-NQM4 Trust                                        | CUSIP: 403958AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    238782 | PA      | $239674.55    | 0.06%             | 2070-08-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31416BQ27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     25780 | PA      | $26463.53     | 0.01%             | 2037-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                           | Volkswagen Group of America Finance LLC                      | CUSIP: 928668CV2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200485.76    | 0.05%             | 2027-09-11      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                   | COLT 2024-6 Mortgage Loan Trust                              | CUSIP: 19688XAB2<br>LEI: 213800U2X2TO1PQH1O75 | Long             | ABS-MBS          | CORP              | US        |    518753 | PA      | $521455.68    | 0.13%             | 2069-11-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                           | National Rural Utilities Cooperative Finance Corp            | CUSIP: 63743HFG2<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    421000 | PA      | $428792.41    | 0.11%             | 2028-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SOUTHERN POWER CO                                  | Southern Power Co                                            | CUSIP: 843646AX8<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |    180000 | PA      | $178914.60    | 0.05%             | 2030-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                                     | Starbucks Corp                                               | CUSIP: 855244AR0<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    405000 | PA      | $404304.60    | 0.10%             | 2028-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2025-3                            | CUSIP: 924928AA2<br>LEI: 213800DYYV3EM7TSTN14 | Long             | ABS-MBS          | CORP              | US        |    215192 | PA      | $217353.77    | 0.06%             | 2070-05-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes            | Santander Bank Auto Credit-Linked Notes Series 2023-B        | CUSIP: 80290CCA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    120884 | PA      | $122533.53    | 0.03%             | 2033-12-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                   | SMB Private Education Loan Trust 2021-B                      | CUSIP: 78449YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    311695 | PA      | $292899.38    | 0.07%             | 2051-07-17      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| Wingspire Equipment Finance LLC                    | Wingspire Equipment Finance 2025-1 LLC                       | CUSIP: 97415CAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $99923.40     | 0.03%             | 2033-09-20      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Refi Loan Trust 2020-H             | CUSIP: 63935BAA1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     27203 | PA      | $25744.14     | 0.01%             | 2069-01-15      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| Appalachian Power Co                               | Appalachian Power Co                                         | CUSIP: 037735CW5<br>LEI: 3SCHO1ABYYIG382BEI70 | Long             | DBT              | CORP              | US        |    854000 | PA      | $841786.70    | 0.21%             | 2027-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                         | ROCK Trust 2024-CNTR                                         | CUSIP: 74970WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $463642.11    | 0.12%             | 2041-11-13      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Alinea CLO LTD                                     | Alinea CLO 2018-1 Ltd                                        | CUSIP: 016269AG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250030.43    | 0.06%             | 2031-07-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132E0A77<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    491160 | PA      | $499251.20    | 0.13%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                            | Imperial Brands Finance PLC                                  | CUSIP: 45262BAJ2<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    420000 | PA      | $422698.70    | 0.11%             | 2028-06-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes            | Santander Bank Auto Credit-Linked Notes Series 2024-A        | CUSIP: 80290CCK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    185770 | PA      | $187865.37    | 0.05%             | 2032-06-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| TENGIZCHEVROIL FIN CO IN                           | Tengizchevroil Finance Co International Ltd                  | CUSIP: 000000000<br>LEI: 5493001VEV2XTJIBZH31 | Long             | DBT              | CORP              | BM        |    800000 | PA      | $794765.86    | 0.20%             | 2026-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Alinea CLO LTD                                     | Alinea CLO 2018-1 Ltd                                        | CUSIP: 016269AE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     93635 | PA      | $93628.85     | 0.02%             | 2031-07-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | Citigroup Inc                                                | CUSIP: 172967PF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    375000 | PA      | $384680.77    | 0.10%             | 2030-02-13      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                              | Athene Global Funding                                        | CUSIP: 04685A3X7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    430000 | PA      | $438046.78    | 0.11%             | 2027-07-09      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132DWGF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    122163 | PA      | $118979.55    | 0.03%             | 2053-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140XPHC6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    528723 | PA      | $537851.32    | 0.14%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF GAS CO                              | Southern California Gas Co                                   | CUSIP: 842434CW0<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |    410000 | PA      | $403850.85    | 0.10%             | 2027-04-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                           | Occidental Petroleum Corp                                    | CUSIP: 674599EH4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    166000 | PA      | $167738.02    | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QTBD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1744956 | PA      | $1735898.21   | 0.44%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                           | Saudi Government International Bond                          | CUSIP: 80413TBJ7<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    560000 | PA      | $571900.83    | 0.15%             | 2028-01-13      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                      | DTE Energy Co                                                | CUSIP: 233331BN6<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    410000 | PA      | $422465.96    | 0.11%             | 2030-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                    | SBA Tower Trust                                              | CUSIP: 78403DAP5<br>LEI: N/A                  | Long             | DBT              |  | US        |    290000 | PA      | $287799.97    | 0.07%             | 2026-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                           | Angel Oak Mortgage Trust 2020-3                              | CUSIP: 03465LAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29845 | PA      | $28873.20     | 0.01%             | 2065-04-25      | Variable      | 2.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Gold Pool                                        | CUSIP: 3128LXDC1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4692 | PA      | $4931.25      | 0.00%             | 2035-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QCNB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     53342 | PA      | $51591.61     | 0.01%             | 2034-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TX Trust 24-HOU                                    | TX Trust 2024-HOU                                            | CUSIP: 90216DAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    535000 | PA      | $534291.34    | 0.14%             | 2039-06-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                          | Nelnet Student Loan Trust 2021-D                             | CUSIP: 64034YAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    122412 | PA      | $116298.48    | 0.03%             | 2062-04-20      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2025-NQM15 Trust                                         | CUSIP: 67122CAD7<br>LEI: 254900Y3YIZHUWMEGC78 | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $175010.20    | 0.04%             | 2065-07-27      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust     | Morgan Stanley Residential Mortgage Loan Trust 2021-2        | CUSIP: 61772LAQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    109002 | PA      | $98428.61     | 0.03%             | 2051-05-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Gold Pool                                        | CUSIP: 31297EJ72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       747 | PA      | $780.97       | 0.00%             | 2034-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2020-EXP1 Trust                                          | CUSIP: 67448TBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105263 | PA      | $103400.10    | 0.03%             | 2060-02-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| NASDAQ INC                                         | Nasdaq Inc                                                   | CUSIP: 63111XAH4<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |    205000 | PA      | $211374.11    | 0.05%             | 2028-06-28      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust            | Hyundai Auto Lease Securitization Trust 2025-B               | CUSIP: 44935DAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    205000 | PA      | $206819.70    | 0.05%             | 2028-04-17      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                           | Marsh & McLennan Cos Inc                                     | CUSIP: 571748AZ5<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104756.58    | 0.03%             | 2026-03-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                               | Waste Management Inc                                         | CUSIP: 94106LCA5<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    815000 | PA      | $809863.68    | 0.21%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                     | S&P Global Inc                                               | CUSIP: 78409VBH6<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    955000 | PA      | $935297.63    | 0.24%             | 2027-03-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC Holdings PLC                                            | CUSIP: 404280EM7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    565000 | PA      | $575072.11    | 0.15%             | 2028-11-19      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                 | Ally Bank Auto Credit-Linked Notes Series 2025-A             | CUSIP: 02007G5E9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    232341 | PA      | $233010.65    | 0.06%             | 2033-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC           | Avis Budget Rental Car Funding AESOP LLC                     | CUSIP: 05377RGN8<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    120000 | PA      | $121297.16    | 0.03%             | 2027-10-20      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                             | Santander Holdings USA Inc                                   | CUSIP: 80282KBK1<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80838.32     | 0.02%             | 2027-05-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2025-DSC2                           | CUSIP: 46659VAA6<br>LEI: 529900SXYOW2J5ABY729 | Long             | ABS-MBS          | CORP              | US        |    248302 | PA      | $248795.79    | 0.06%             | 2065-10-25      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                              | Foundry JV Holdco LLC                                        | CUSIP: 350930AB9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210901.66    | 0.05%             | 2030-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                           | Public Service Enterprise Group Inc                          | CUSIP: 744573BA3<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    690000 | PA      | $705288.79    | 0.18%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                 | EFMT 2024-INV2                                               | CUSIP: 26844LAB4<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |    248880 | PA      | $248627.26    | 0.06%             | 2069-10-25      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                       | Dell Equipment Finance Trust 2024-2                          | CUSIP: 24704EAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100858.27    | 0.03%             | 2030-08-22      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                         | US Bancorp                                                   | CUSIP: 91159HJF8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    590000 | PA      | $594467.37    | 0.15%             | 2028-07-22      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL                           | Jackson National Life Global Funding                         | CUSIP: 46849LVC2<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |    435000 | PA      | $438557.76    | 0.11%             | 2027-01-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                             | Marvell Technology Inc                                       | CUSIP: 573874AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    255000 | PA      | $251265.65    | 0.06%             | 2026-04-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Gold Pool                                        | CUSIP: 31283H6N0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13646 | PA      | $14273.82     | 0.00%             | 2035-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust               | Deephaven Residential Mortgage Trust 2021-2                  | CUSIP: 24381WAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     86147 | PA      | $76832.91     | 0.02%             | 2066-04-25      | Variable      | 1.26%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac STACR REMIC Trust 2025-DNA1                      | CUSIP: 35564NFY4<br>LEI: 529900WZAMS87JCAOC53 | Long             | ABS-MBS          | USGSE             | US        |    119250 | PA      | $119324.32    | 0.03%             | 2045-01-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179SNV5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       437 | PA      | $406.30       | 0.00%             | 2046-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                       | Hudson Yards 2025-SPRL Mortgage Trust                        | CUSIP: 44855PAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    345000 | PA      | $356522.03    | 0.09%             | 2040-01-13      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    545063 | PA      | $543189.07    | 0.14%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Benchmark 2024-V8 Mortgage Trust                   | Benchmark 2024-V8 Mortgage Trust                             | CUSIP: 08190AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    189057 | PA      | $192604.27    | 0.05%             | 2057-07-15      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| MED Trust                                          | MED Commercial Mortgage Trust 2024-MOB                       | CUSIP: 55287BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440000 | PA      | $438914.43    | 0.11%             | 2041-05-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3622A2RW4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     64421 | PA      | $60480.49     | 0.02%             | 2044-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GCAT                                               | GCAT 2025-NQM1 Trust                                         | CUSIP: 36171GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    304269 | PA      | $306029.71    | 0.08%             | 2069-11-25      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31427M6N6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    681504 | PA      | $689287.76    | 0.18%             | 2055-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked Notes                 | Ally Bank Auto Credit-Linked Notes Series 2024-B             | CUSIP: 02007G4B6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    164521 | PA      | $166023.83    | 0.04%             | 2032-09-15      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                   | Crown Castle Inc                                             | CUSIP: 22822VBA8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    285000 | PA      | $289004.44    | 0.07%             | 2028-01-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                        | PepsiCo Inc                                                  | CUSIP: 713448GL6<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    830000 | PA      | $832932.61    | 0.21%             | 2029-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                               | Enel Finance International NV                                | CUSIP: 29278GAZ1<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $400348.56    | 0.10%             | 2025-10-14      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418C4G6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22736 | PA      | $22425.53     | 0.01%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179TUE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     16217 | PA      | $16726.60     | 0.00%             | 2048-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2018-CH2                              | CUSIP: 81747EAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     32331 | PA      | $30255.35     | 0.01%             | 2048-06-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140X5ZM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22212 | PA      | $21524.07     | 0.01%             | 2035-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                              | Athene Global Funding                                        | CUSIP: 04685A3S8<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    550000 | PA      | $552491.35    | 0.14%             | 2026-02-23      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                       | AES Corp/The                                                 | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    815000 | PA      | $807489.84    | 0.21%             | 2026-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                             | US 10YR NOTE (CBT)DEC25                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -107 | NC      | $-54487.93    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL                           | Equitable America Global Funding                             | CUSIP: 29446Q2C6<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |    155000 | PA      | $154726.23    | 0.04%             | 2027-09-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3133KNLC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    479060 | PA      | $409673.38    | 0.10%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac STACR REMIC Trust 2021-DNA7                      | CUSIP: 35564KMH9<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | USGSE             | US        |    375000 | PA      | $378165.00    | 0.10%             | 2041-11-25      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2024-MDHS                       | CUSIP: 12433BAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    380208 | PA      | $380682.85    | 0.10%             | 2041-05-15      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                           | Occidental Petroleum Corp                                    | CUSIP: 674599EJ0<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    230000 | PA      | $233380.54    | 0.06%             | 2029-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                             | Standard Chartered PLC                                       | CUSIP: 853254DB3<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    390000 | PA      | $398099.53    | 0.10%             | 2028-05-14      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                | GS Mortgage-Backed Securities Trust 2022-GR2                 | CUSIP: 36250BAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1570 | PA      | $1560.64      | 0.00%             | 2044-07-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                     | Morgan Stanley Capital I Trust 2014-150E                     | CUSIP: 61764BAA1<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |    610000 | PA      | $553396.27    | 0.14%             | 2032-09-09      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                        | Fortress Credit Bsl VII Ltd                                  | CUSIP: 34956NAQ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    585000 | PA      | $585155.34    | 0.15%             | 2032-07-23      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust 2023-1                              | CUSIP: 67571BAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $226554.55    | 0.06%             | 2029-07-20      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| LSTAR Commercial Mortgage Trust                    | LSTAR Commercial Mortgage Trust 2017-5                       | CUSIP: 54910TAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    340000 | PA      | $329091.10    | 0.08%             | 2050-03-10      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31416CA63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5852 | PA      | $6085.10      | 0.00%             | 2032-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ADVANCED MICRO DEVICES                             | Advanced Micro Devices Inc                                   | CUSIP: 007903BJ5<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |    950000 | PA      | $958280.37    | 0.24%             | 2028-03-24      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                             | Bunge Ltd Finance Corp                                       | CUSIP: 120568BM1<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    600000 | PA      | $606823.46    | 0.15%             | 2027-04-21      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                             | NextEra Energy Capital Holdings Inc                          | CUSIP: 65339KBY5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    685000 | PA      | $666134.67    | 0.17%             | 2027-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                    | SBA Tower Trust                                              | CUSIP: 78403DAT7<br>LEI: N/A                  | Long             | DBT              |  | US        |    575000 | PA      | $558211.44    | 0.14%             | 2026-11-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| STATE BANK INDIA/LONDON                            | State Bank of India/London                                   | CUSIP: 000000000<br>LEI: 5493001JZ37UBBZF6L49 | Long             | DBT              | CORP              | IN        |   1050000 | PA      | $1029668.28   | 0.26%             | 2026-07-13      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                          | ONEOK Inc                                                    | CUSIP: 682680CB7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    785000 | PA      | $785849.75    | 0.20%             | 2027-09-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC                            | O'Reilly Automotive Inc                                      | CUSIP: 67103HAM9<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |   1133000 | PA      | $1152531.73   | 0.29%             | 2026-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust | GM Financial Consumer Automobile Receivables Trust 2023-1    | CUSIP: 38013JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155000 | PA      | $156606.65    | 0.04%             | 2028-09-18      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                   | COLT 2025-INV2 Mortgage Loan Trust                           | CUSIP: 12673UAA2<br>LEI: 213800M5KYYIOHI7KW93 | Long             | ABS-MBS          | CORP              | US        |    390023 | PA      | $393952.43    | 0.10%             | 2070-02-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| GATX Corp                                          | GATX Corp                                                    | CUSIP: 361448AZ6<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    213000 | PA      | $211694.26    | 0.05%             | 2027-03-30      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master Owner Trust           | Ford Credit Floorplan Master Owner Trust A                   | CUSIP: 34528QHY3<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    245000 | PA      | $246677.07    | 0.06%             | 2028-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae                                                   | CUSIP: 21H0526A1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1045000 | PA      | $1052777.18   | 0.27%             | 2054-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC                     | Wheels Fleet Lease Funding 1 LLC                             | CUSIP: 96328GBG1<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |    387150 | PA      | $392589.65    | 0.10%             | 2038-08-18      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| eBay Inc                                           | eBay Inc                                                     | CUSIP: 278642AU7<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1027367.51   | 0.26%             | 2027-06-05      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2019-EXP2 Trust                                          | CUSIP: 67113KAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25820 | PA      | $25547.73     | 0.01%             | 2059-06-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                         | Mattel Inc                                                   | CUSIP: 577081BE1<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    673000 | PA      | $668168.79    | 0.17%             | 2026-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HYT Commercial Mortgage Trust 2024-RGCY            | HYT Commercial Mortgage Trust 2024-RGCY                      | CUSIP: 449173AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    345000 | PA      | $345431.25    | 0.09%             | 2041-09-15      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                       | Huntington Bank Auto Credit-Linked Notes Series 2025-1       | CUSIP: 446438SX2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525428 | PA      | $528607.88    | 0.13%             | 2033-03-21      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP                                 | Valero Energy Corp                                           | CUSIP: 91913YBF6<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    180000 | PA      | $185290.66    | 0.05%             | 2030-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                   | Vista Point Securitization Trust 2020-2                      | CUSIP: 92838TAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25699 | PA      | $24852.80     | 0.01%             | 2065-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                           | Penske Truck Leasing Co Lp / PTL Finance Corp                | CUSIP: 709599BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1028084.05   | 0.26%             | 2026-05-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2021-NQM1 Trust                                          | CUSIP: 67114BAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    321065 | PA      | $281322.63    | 0.07%             | 2066-02-25      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS Group AG                                                 | CUSIP: 902613AH1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    215000 | PA      | $209934.88    | 0.05%             | 2027-08-10      | Fixed         | 1.49%                 | No            |                  2 | On Loan: No      |
| LYB INT FINANCE III                                | LYB International Finance III LLC                            | CUSIP: 50249AAF0<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |    373000 | PA      | $373000.00    | 0.09%             | 2025-10-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                           | Columbia Pipelines Holding Co LLC                            | CUSIP: 19828AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $91211.99     | 0.02%             | 2026-08-15      | Fixed         | 6.06%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                   | SMB Private Education Loan Trust 2018-B                      | CUSIP: 78449LAB4<br>LEI: 549300INMCHM7L5O6M41 | Long             | ABS-O            | CORP              | US        |     35258 | PA      | $35006.19     | 0.01%             | 2037-01-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                        | Nutrien Ltd                                                  | CUSIP: 67077MBA5<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    240000 | PA      | $244157.06    | 0.06%             | 2028-03-27      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617MLYC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9646 | PA      | $9115.24      | 0.00%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                             | Sequoia Mortgage Trust 2018-CH2                              | CUSIP: 81747EAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14016 | PA      | $13116.48     | 0.00%             | 2048-06-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| OMNICOM GP/OMNICOM CAP                             | Omnicom Group Inc / Omnicom Capital Inc                      | CUSIP: 68217FAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $184272.66    | 0.05%             | 2026-04-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132A4LW6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     89258 | PA      | $91410.31     | 0.02%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418C2A1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16109 | PA      | $15889.34     | 0.00%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                             | Diamondback Energy Inc                                       | CUSIP: 25278XAX7<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    455000 | PA      | $461531.34    | 0.12%             | 2027-04-18      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                           | Toyota Motor Credit Corp                                     | CUSIP: 89236TMS1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    600000 | PA      | $605087.20    | 0.15%             | 2027-10-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| OZLM Funding Ltd                                   | OZLM Funding II Ltd                                          | CUSIP: 67108BCG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250859.88    | 0.06%             | 2037-07-30      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                           | Volkswagen Group of America Finance LLC                      | CUSIP: 928668CL4<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    680000 | PA      | $686077.00    | 0.17%             | 2027-08-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2020-EXP1 Trust                                          | CUSIP: 67448TBD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    519388 | PA      | $510198.01    | 0.13%             | 2060-02-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                       | Ford Credit Auto Owner Trust 2023-A                          | CUSIP: 344928AF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    905000 | PA      | $915687.51    | 0.23%             | 2029-01-15      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2021-1                            | CUSIP: 92537QAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     77783 | PA      | $70126.42     | 0.02%             | 2066-01-25      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc                                         | Zoetis Inc                                                   | CUSIP: 98978VAL7<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    612000 | PA      | $601244.57    | 0.15%             | 2027-09-12      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                             | NXP BV / NXP Funding LLC / NXP USA Inc                       | CUSIP: 62954HAZ1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    405000 | PA      | $403960.68    | 0.10%             | 2026-06-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| QNB FINANCE LTD                                    | QNB Finance Ltd                                              | CUSIP: 000000000<br>LEI: 549300MY0DXTHQEX5O57 | Long             | DBT              | CORP              | KY        |    820000 | PA      | $811606.48    | 0.21%             | 2026-01-26      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO Ltd.                              | Marble Point CLO XV Ltd                                      | CUSIP: 56606YAW5<br>LEI: 549300CO8XB55W8SS394 | Long             | ABS-CBDO         | CORP              | KY        |    629653 | PA      | $627101.65    | 0.16%             | 2032-07-23      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                       | AutoZone Inc                                                 | CUSIP: 053332BM3<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    430000 | PA      | $443776.56    | 0.11%             | 2030-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Imperial Fund LLC                                  | Imperial Fund Mortgage Trust 2021-NQM2                       | CUSIP: 452761AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    188769 | PA      | $164224.08    | 0.04%             | 2056-09-25      | Variable      | 1.52%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                 | Regal Rexnord Corp                                           | CUSIP: 758750AL7<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   1164000 | PA      | $1169634.42   | 0.30%             | 2026-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | Morgan Stanley                                               | CUSIP: 61747YEX9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    525000 | PA      | $525334.22    | 0.13%             | 2026-10-16      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                        | Oracle Corp                                                  | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    715000 | PA      | $714649.19    | 0.18%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| GATX CORP                                          | GATX Corp                                                    | CUSIP: 361448BP7<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    390000 | PA      | $395643.83    | 0.10%             | 2027-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                   | LPL Holdings Inc                                             | CUSIP: 50212YAN4<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252702.77    | 0.06%             | 2028-04-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BRE Grand Islander Timeshare Issuer                | BRE Grand Islander Timeshare Issuer 2019-A LLC               | CUSIP: 05588UAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    116633 | PA      | $115481.26    | 0.03%             | 2033-09-26      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Bank5                                              | BANK5 2024-5YR12                                             | CUSIP: 06644XBG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    540000 | PA      | $568554.93    | 0.14%             | 2057-12-15      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| Prologis LP                                        | Prologis LP                                                  | CUSIP: 74340XBH3<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    190000 | PA      | $189321.21    | 0.05%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XXI Ltd                | Octagon Investment Partners XXI Ltd                          | CUSIP: 67590QCA3<br>LEI: 549300XIS9D4AHDX5A35 | Long             | ABS-CBDO         | CORP              | KY        |    570000 | PA      | $570053.81    | 0.15%             | 2031-02-14      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| GATX Corp                                          | GATX Corp                                                    | CUSIP: 361448AY9<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    360000 | PA      | $357205.08    | 0.09%             | 2026-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                | Affirm Master Trust                                          | CUSIP: 00833BAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    335000 | PA      | $336929.63    | 0.09%             | 2033-07-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | Hyundai Capital America                                      | CUSIP: 44891ADL8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    465000 | PA      | $471520.79    | 0.12%             | 2028-01-07      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                           | Lloyds Banking Group PLC                                     | CUSIP: 53944YAZ6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    460000 | PA      | $466854.13    | 0.12%             | 2028-01-05      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                           | Angel Oak Mortgage Trust 2025-5                              | CUSIP: 03466EAA8<br>LEI: 254900QA46POYH7UR768 | Long             | ABS-MBS          | CORP              | US        |    994619 | PA      | $1003513.65   | 0.26%             | 2070-04-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| PEACEHEALTH OBLIGATED GR                           | PeaceHealth Obligated Group                                  | CUSIP: 70462GAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $104599.07    | 0.03%             | 2025-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                             | Sempra                                                       | CUSIP: 816851BQ1<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    270000 | PA      | $272379.42    | 0.07%             | 2026-08-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                            | GA Global Funding Trust                                      | CUSIP: 36143L2R5<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    535000 | PA      | $554129.19    | 0.14%             | 2030-01-13      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2019-EXP3 Trust                                          | CUSIP: 67113ABB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     93924 | PA      | $93994.31     | 0.02%             | 2059-10-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                   | NTT Finance Corp                                             | CUSIP: 62954WAQ8<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    370000 | PA      | $373658.60    | 0.10%             | 2028-07-16      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Bacardi Ltd                                        | Bacardi Ltd                                                  | CUSIP: 067316AF6<br>LEI: 549300R32WTQNHNN5055 | Long             | DBT              | CORP              | BM        |    789000 | PA      | $795500.22    | 0.20%             | 2028-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                      | Owens Corning                                                | CUSIP: 690742AN1<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    340000 | PA      | $347341.52    | 0.09%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179TG33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    384894 | PA      | $348527.96    | 0.09%             | 2047-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617N3ME3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     29431 | PA      | $27774.39     | 0.01%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                  | Battalion Clo XV Ltd                                         | CUSIP: 07131AAM6<br>LEI: 549300CJP8HGT746II19 | Long             | ABS-CBDO         | CORP              | KY        |   1433277 | PA      | $1433274.73   | 0.36%             | 2033-01-17      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Navistar Financial Dealer Note Master Trust        | Navistar Financial Dealer Note Master Owner Trust            | CUSIP: 63938PBY4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $75492.37     | 0.02%             | 2029-04-25      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                        | Exelon Corp                                                  | CUSIP: 30161NBM2<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205719.04    | 0.05%             | 2029-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                               | Verizon Master Trust                                         | CUSIP: 92348KDG5<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    710000 | PA      | $712101.03    | 0.18%             | 2030-08-20      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2020-INV1 Trust                                          | CUSIP: 67113CAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     33118 | PA      | $29805.08     | 0.01%             | 2049-12-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| PEAC Solutions Receivables LLC                     | PEAC Solutions Receivables 2025-1 LLC                        | CUSIP: 69392HAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    240000 | PA      | $244309.99    | 0.06%             | 2032-07-20      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| GMRF Mortgage Acquisition Co., LLC                 | Galton Funding Mortgage Trust 2019-1                         | CUSIP: 36418WAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8550 | PA      | $8124.46      | 0.00%             | 2059-02-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust                     | Home Partners of America 2022-1 Trust                        | CUSIP: 43730NAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    319808 | PA      | $317934.63    | 0.08%             | 2039-04-17      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31410KJY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1066 | PA      | $1123.63      | 0.00%             | 2038-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                           | Marsh & McLennan Cos Inc                                     | CUSIP: 571748BY7<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    720000 | PA      | $728013.89    | 0.19%             | 2027-11-08      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                        | RCKT Mortgage Trust 2024-CES8                                | CUSIP: 749421AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    547725 | PA      | $552269.63    | 0.14%             | 2044-11-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                           | Madison Park Funding XXXIII Ltd                              | CUSIP: 55819JAN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1018384 | PA      | $1018390.90   | 0.26%             | 2032-10-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                | Exeter Automobile Receivables Trust 2022-4                   | CUSIP: 30166BAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    883480 | PA      | $890801.12    | 0.23%             | 2028-12-15      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3133KHDK9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     72951 | PA      | $69820.47     | 0.02%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                  | Brown & Brown Inc                                            | CUSIP: 115236AJ0<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    215000 | PA      | $217052.72    | 0.06%             | 2028-06-23      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Notes                                          | CUSIP: 91282CNM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7815000 | PA      | $7865675.43   | 2.00%             | 2028-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC                           | Constellation Energy Generation LLC                          | CUSIP: 210385AB6<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    315000 | PA      | $325540.87    | 0.08%             | 2028-03-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| WORKDAY INC                                        | Workday Inc                                                  | CUSIP: 98138HAG6<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    265000 | PA      | $262651.52    | 0.07%             | 2027-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae REMICS                                            | CUSIP: 3136AYQK2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    130004 | PA      | $122827.88    | 0.03%             | 2047-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140HMPA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     38611 | PA      | $38988.41     | 0.01%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                    | CVS Health Corp                                              | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    345000 | PA      | $345227.35    | 0.09%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                       | CaixaBank SA                                                 | CUSIP: 12803RAB0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    615000 | PA      | $628395.80    | 0.16%             | 2027-09-13      | Fixed         | 6.68%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Receivables Trust         | Exeter Select Automobile Receivables Trust 2025-2            | CUSIP: 30185EAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    285000 | PA      | $286798.35    | 0.07%             | 2031-12-15      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | Barclays PLC                                                 | CUSIP: 06738ECX1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    555000 | PA      | $564969.17    | 0.14%             | 2029-02-25      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                        | Fortress Credit Bsl VII Ltd                                  | CUSIP: 34956NAL6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    144847 | PA      | $144872.42    | 0.04%             | 2032-07-23      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31427MGP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     72730 | PA      | $74597.01     | 0.02%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140Y6U57<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    406671 | PA      | $421400.34    | 0.11%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CNH Equipment Trust                                | CNH Equipment Trust 2024-B                                   | CUSIP: 18978JAD0<br>LEI: 549300BIZ8MA1TOD5D46 | Long             | ABS-O            | CORP              | US        |    245000 | PA      | $248904.71    | 0.06%             | 2029-09-17      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| MARS INC                                           | Mars Inc                                                     | CUSIP: 571676AX3<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    560000 | PA      | $566848.26    | 0.14%             | 2028-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                       | Dell Equipment Finance Trust 2024-1                          | CUSIP: 24702GAL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101946.20    | 0.03%             | 2030-09-23      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| O'Reilly Automotive Inc                            | O'Reilly Automotive Inc                                      | CUSIP: 67103HAG2<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    390000 | PA      | $392430.95    | 0.10%             | 2028-06-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae                                                   | CUSIP: 21H0506A5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2275000 | PA      | $2262758.63   | 0.58%             | 2054-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                   | COLT 2025-4 Mortgage Loan Trust                              | CUSIP: 12674HAA0<br>LEI: 2138002WIT3BHLQD3E93 | Long             | ABS-MBS          | CORP              | US        |    205682 | PA      | $208301.36    | 0.05%             | 2070-04-25      | Variable      | 5.79%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                   | SMB Private Education Loan Trust                             | CUSIP: 78449XAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     61602 | PA      | $58782.42     | 0.01%             | 2053-07-15      | Fixed         | 1.29%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                | Starwood Mortgage Residential Trust 2019-INV1                | CUSIP: 85572JAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     91722 | PA      | $90788.86     | 0.02%             | 2049-09-27      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| Cox Communications Inc                             | Cox Communications Inc                                       | CUSIP: 224044CJ4<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |    215000 | PA      | $212061.92    | 0.05%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                           | RTX Corp                                                     | CUSIP: 913017AT6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    355000 | PA      | $379037.38    | 0.10%             | 2028-08-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| ALA Trust                                          | ALA Trust 2025-OANA                                          | CUSIP: 009920AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $261300.00    | 0.07%             | 2040-06-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| Hardee's Funding                                   | Hardee's Funding LLC                                         | CUSIP: 411707AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265050 | PA      | $264037.99    | 0.07%             | 2048-06-20      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                       | Enbridge Inc                                                 | CUSIP: 29250NBW4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    230000 | PA      | $234024.42    | 0.06%             | 2026-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                     | Lowe's Cos Inc                                               | CUSIP: 548661EU7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    245000 | PA      | $244437.58    | 0.06%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                        | Viatris Inc                                                  | CUSIP: 92556VAC0<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |    429000 | PA      | $412957.67    | 0.11%             | 2027-06-22      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                    | CVS Health Corp                                              | CUSIP: 126650DF4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    220000 | PA      | $217712.00    | 0.06%             | 2026-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31418EGJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    167829 | PA      | $158618.23    | 0.04%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QVAM6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    194384 | PA      | $200257.77    | 0.05%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QCCH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24870 | PA      | $23752.42     | 0.01%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trust                    | Carmax Select Receivables Trust 2024-A                       | CUSIP: 14319FAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    570000 | PA      | $581209.22    | 0.15%             | 2030-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140W0BS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23108 | PA      | $23526.54     | 0.01%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                    | CVS Health Corp                                              | CUSIP: 126650CU2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    386000 | PA      | $382406.03    | 0.10%             | 2026-06-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179UMP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    112301 | PA      | $115087.25    | 0.03%             | 2049-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Refi Loan Trust 2019-A             | CUSIP: 63941BAB1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     37391 | PA      | $37240.13     | 0.01%             | 2043-01-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Heineken NV                                        | Heineken NV                                                  | CUSIP: 423012AF0<br>LEI: 724500K5PTPSST86UQ23 | Long             | DBT              | CORP              | NL        |   1972000 | PA      | $1950845.13   | 0.50%             | 2028-01-29      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NIAGARA MOHAWK POWER                               | Niagara Mohawk Power Corp                                    | CUSIP: 653522DT6<br>LEI: 3T97Y9RR5EN5Y18QHB56 | Long             | DBT              | CORP              | US        |    345000 | PA      | $346594.25    | 0.09%             | 2030-10-03      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| CENT Trust                                         | CENT 2025-CITY                                               | CUSIP: 12517TAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    455000 | PA      | $460146.19    | 0.12%             | 2040-07-10      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                       | Hilton Grand Vacations Trust 2020-A                          | CUSIP: 43285HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     98727 | PA      | $97113.70     | 0.02%             | 2039-02-25      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                          | Auxilior Term Funding 2024-1 LLC                             | CUSIP: 05335FAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    240000 | PA      | $244721.69    | 0.06%             | 2031-07-15      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                           | JP Morgan Mortgage Trust 2020-INV1                           | CUSIP: 46591VBC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     34504 | PA      | $32554.57     | 0.01%             | 2050-08-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2021-R1                           | CUSIP: 92538BAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19625 | PA      | $18909.96     | 0.00%             | 2063-10-25      | Variable      | 1.06%                 | No            |                  2 | On Loan: No      |
| ERAC USA FINANCE LLC                               | ERAC USA Finance LLC                                         | CUSIP: 26884TAV4<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |    735000 | PA      | $744510.20    | 0.19%             | 2028-05-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140Q9NZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17432 | PA      | $17182.88     | 0.00%             | 2048-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                                        | Cencora Inc                                                  | CUSIP: 03073EAP0<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    124000 | PA      | $122255.37    | 0.03%             | 2027-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                              | Athene Global Funding                                        | CUSIP: 04685A4A6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    440000 | PA      | $442854.24    | 0.11%             | 2026-08-27      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                             | NXP BV / NXP Funding LLC / NXP USA Inc                       | CUSIP: 62954HAV0<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | XX        |    470000 | PA      | $469431.15    | 0.12%             | 2029-06-18      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER HLDGS CORP                            | Schlumberger Holdings Corp                                   | CUSIP: 806851AK7<br>LEI: 529900IKZG65COT1D505 | Long             | DBT              | CORP              | US        |    740000 | PA      | $736636.69    | 0.19%             | 2028-05-17      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                              | Keysight Technologies Inc                                    | CUSIP: 49338LAH6<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    390000 | PA      | $405377.90    | 0.10%             | 2030-07-30      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                            | ONE 2021-PARK Mortgage Trust                                 | CUSIP: 682413AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    755000 | PA      | $733653.81    | 0.19%             | 2036-03-15      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2020-EXP2 Trust                                          | CUSIP: 67448VAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     34286 | PA      | $29720.21     | 0.01%             | 2060-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| GMRF Mortgage Acquisition Co., LLC                 | Galton Funding Mortgage Trust 2017-1                         | CUSIP: 36417JAS8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17609 | PA      | $16048.54     | 0.00%             | 2057-11-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC                                    | Rolls-Royce PLC                                              | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    515000 | PA      | $529032.39    | 0.13%             | 2027-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac STACR REMIC Trust 2023-HQA3                      | CUSIP: 35564K3F4<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | USGSE             | US        |    150705 | PA      | $152414.19    | 0.04%             | 2043-11-25      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                             | General Motors Financial Co Inc                              | CUSIP: 37045XFE1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    780000 | PA      | $792538.85    | 0.20%             | 2028-04-04      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust             | Santander Drive Auto Receivables Trust 2021-4                | CUSIP: 80285VAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    137256 | PA      | $136512.86    | 0.03%             | 2027-10-15      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| MVW 2020-1 LLC                                     | MVW 2020-1 LLC                                               | CUSIP: 55400EAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    133914 | PA      | $130969.33    | 0.03%             | 2037-10-20      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| BRUNSWICK CORP                                     | Brunswick Corp/DE                                            | CUSIP: 11704MX28<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | STIV             | CORP              | US        |   1080000 | PA      | $1079718.66   | 0.27%             | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | Hyundai Capital America                                      | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    400000 | PA      | $403468.17    | 0.10%             | 2027-06-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31402QTS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2310 | PA      | $2426.31      | 0.00%             | 2034-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Whole Loan Securities Trust            | Freddie Mac Whole Loan Securities Trust 2017-SC02            | CUSIP: 3137G1BY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1941 | PA      | $1929.80      | 0.00%             | 2047-05-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                                        | Cencora Inc                                                  | CUSIP: 03073EAW5<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178559.64    | 0.05%             | 2029-12-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                          | Nelnet Student Loan Trust 2021-C                             | CUSIP: 64035GAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355713 | PA      | $333228.90    | 0.08%             | 2062-04-20      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3142GS4H8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     95517 | PA      | $97128.39     | 0.02%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC Holdings PLC                                            | CUSIP: 404280EQ8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $507260.40    | 0.13%             | 2029-03-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER INVESTMENT                            | Schlumberger Investment SA                                   | CUSIP: 806854AK1<br>LEI: 529900EZ29I5KXPV2J32 | Long             | DBT              | CORP              | LU        |    409000 | PA      | $411543.37    | 0.10%             | 2028-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables Trust                | Exeter Automobile Receivables Trust 2022-3                   | CUSIP: 30166YAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10847 | PA      | $10851.48     | 0.00%             | 2027-09-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                   | Fannie Mae Connecticut Avenue Securities                     | CUSIP: 20754VAA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    181483 | PA      | $182618.67    | 0.05%             | 2045-03-25      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179SQW0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     26220 | PA      | $24378.04     | 0.01%             | 2046-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                                   | HF Sinclair Corp                                             | CUSIP: 403949AR1<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    455000 | PA      | $470936.79    | 0.12%             | 2031-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Trust Llc                            | SCF Equipment Trust 2016-1 LLC                               | CUSIP: 78437DAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    209181 | PA      | $209851.14    | 0.05%             | 2030-07-22      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                             | General Motors Financial Co Inc                              | CUSIP: 37045XEX0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    620000 | PA      | $631223.48    | 0.16%             | 2027-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                         | Intel Corp                                                   | CUSIP: 458140CE8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    108000 | PA      | $109638.03    | 0.03%             | 2028-02-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Cox Communications Inc                             | Cox Communications Inc                                       | CUSIP: 224044CG0<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |    235000 | PA      | $233270.01    | 0.06%             | 2026-09-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                           | Penske Truck Leasing Co Lp / PTL Finance Corp                | CUSIP: 709599BM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $144278.30    | 0.04%             | 2026-06-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2021-1                            | CUSIP: 92537QAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     45755 | PA      | $41363.93     | 0.01%             | 2066-01-25      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31425UTP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     45804 | PA      | $47512.92     | 0.01%             | 2054-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                          | CUSIP: 46647PCF1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    350000 | PA      | $351061.13    | 0.09%             | 2027-04-22      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                | Charles Schwab Corp/The                                      | CUSIP: 808513BY0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    906000 | PA      | $886403.18    | 0.23%             | 2027-03-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                        | RCKT Mortgage Trust 2024-CES9                                | CUSIP: 749426AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    107568 | PA      | $108710.86    | 0.03%             | 2044-12-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                           | Capital One Financial Corp                                   | CUSIP: 14040HDB8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    240000 | PA      | $247185.78    | 0.06%             | 2027-10-29      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| Verdant Receivables LLC                            | Verdant Receivables 2024-1 LLC                               | CUSIP: 92339MAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95904 | PA      | $97713.89     | 0.02%             | 2031-12-12      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                         | MFA 2025-NQM4 Trust                                          | CUSIP: 55287RAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $999985.90    | 0.25%             | 2070-08-25      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2024-MDHS                       | CUSIP: 12433BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    380208 | PA      | $380682.85    | 0.10%             | 2041-05-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| Frontier Issuer LLC                                | Frontier Issuer LLC                                          | CUSIP: 35910EAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $495068.37    | 0.13%             | 2053-08-20      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| United States Treasury                             | U.S. Treasury Notes                                          | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  27000000 | PA      | $27048515.76  | 6.88%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Pernod Ricard SA                                   | Pernod Ricard SA                                             | CUSIP: 714264AM0<br>LEI: 52990097YFPX9J0H5D87 | Long             | DBT              | CORP              | FR        |    835000 | PA      | $829641.15    | 0.21%             | 2026-06-08      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179UH70<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8851 | PA      | $9092.97      | 0.00%             | 2048-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund VII                | Bayview Opportunity Master Fund VII 2025-EDU1 LLC            | CUSIP: 07337GAB9<br>LEI: 2549001VJ64UFK8PZA41 | Long             | ABS-O            | CORP              | US        |    470000 | PA      | $470000.00    | 0.12%             | 2048-07-27      | Floating      | 6.03%                 | No            |                  3 | On Loan: No      |
| CROWN CASTLE INC                                   | Crown Castle Inc                                             | CUSIP: 22822VAZ4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    580000 | PA      | $568819.84    | 0.14%             | 2027-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31426K3Q7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    262421 | PA      | $268510.83    | 0.07%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2025-7                            | CUSIP: 924931AD0<br>LEI: 213800OVCAXDOBS94P47 | Long             | ABS-MBS          | CORP              | US        |    450712 | PA      | $451183.28    | 0.11%             | 2070-08-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                          | Kroger Co/The                                                | CUSIP: 501044DJ7<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    103000 | PA      | $102460.84    | 0.03%             | 2027-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac STACR REMIC Trust 2022-DNA5                      | CUSIP: 35564KYN3<br>LEI: 5493000IS349P4O9HR58 | Long             | ABS-MBS          | USGSE             | US        |    269372 | PA      | $274736.33    | 0.07%             | 2042-06-25      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR9                                    | BANK5 2024-5YR9                                              | CUSIP: 06644VBA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    311514 | PA      | $314374.97    | 0.08%             | 2057-08-15      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.   | Freddie Mac Multifamily Structured Pass Through Certificates | CUSIP: 3137HAZH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    318697 | PA      | $323946.73    | 0.08%             | 2030-06-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                         | Verus Securitization Trust 2021-1                            | CUSIP: 92537QAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56046 | PA      | $50398.37     | 0.01%             | 2066-01-25      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                                    | BAE Systems PLC                                              | CUSIP: 05523RAH0<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $455223.48    | 0.12%             | 2027-03-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac Stacr Remic Trust 2025-Dna3                      | CUSIP: 35564UAR8<br>LEI: 5299009HC4IGFM6RXF30 | Long             | ABS-MBS          | USGSE             | US        |    510000 | PA      | $510318.75    | 0.13%             | 2045-09-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                        | HOMES 2025-NQM2 Trust                                        | CUSIP: 403966AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    248372 | PA      | $249756.33    | 0.06%             | 2070-02-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Receivables Trust         | Exeter Select Automobile Receivables Trust 2025-1            | CUSIP: 30185AAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    255000 | PA      | $258459.46    | 0.07%             | 2031-08-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                       | Enbridge Inc                                                 | CUSIP: 29250NCH6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    180000 | PA      | $182114.17    | 0.05%             | 2028-06-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31419DL74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28767 | PA      | $28827.81     | 0.01%             | 2040-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                             | BP Capital Markets America Inc                               | CUSIP: 10373QAE0<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    315000 | PA      | $316490.83    | 0.08%             | 2028-11-06      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                           | Eagle Funding Luxco Sarl                                     | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    680000 | PA      | $689900.80    | 0.18%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | Carmax Auto Owner Trust 2023-2                               | CUSIP: 142921AH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    390000 | PA      | $401352.16    | 0.10%             | 2029-10-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                           | Celanese US Holdings LLC                                     | CUSIP: 15089QAK0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    445000 | PA      | $431072.26    | 0.11%             | 2026-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | Carmax Auto Owner Trust 2023-2                               | CUSIP: 142921AG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    585000 | PA      | $594651.45    | 0.15%             | 2028-11-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                               | Targa Resources Corp                                         | CUSIP: 87612KAA0<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    184000 | PA      | $186899.64    | 0.05%             | 2027-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Lease Trust                       | Ford Credit Auto Lease Trust 2023-B                          | CUSIP: 34529NAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    285000 | PA      | $287622.74    | 0.07%             | 2027-04-15      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| CSL FINANCE PLC                                    | CSL Finance PLC                                              | CUSIP: 12661PAA7<br>LEI: 2549007CCNBNAF4HBC02 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $199365.76    | 0.05%             | 2027-04-27      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                       | Hilton Grand Vacations Trust 2025-1                          | CUSIP: 43283CAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    343463 | PA      | $347441.72    | 0.09%             | 2042-05-27      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                       | Dell Equipment Finance Trust 2024-2                          | CUSIP: 24704EAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410000 | PA      | $413871.34    | 0.11%             | 2031-02-24      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                           | OBX 2025-NQM15 Trust                                         | CUSIP: 67122CAC9<br>LEI: 254900Y3YIZHUWMEGC78 | Long             | ABS-MBS          | CORP              | US        |     98860 | PA      | $99246.45     | 0.03%             | 2065-07-27      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC Holdings PLC                                            | CUSIP: 404280EF2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    320000 | PA      | $326720.19    | 0.08%             | 2028-05-17      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QA3Y4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     64122 | PA      | $63180.20     | 0.02%             | 2049-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                              | Northrop Grumman Corp                                        | CUSIP: 666807BN1<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    300000 | PA      | $295034.00    | 0.08%             | 2028-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ELEMENT FLEET MANAGEMENT                           | Element Fleet Management Corp                                | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |    375000 | PA      | $382522.34    | 0.10%             | 2030-03-25      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                | Freddie Mac STACR REMIC Trust 2021-DNA5                      | CUSIP: 35564KHE2<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-MBS          | USGSE             | US        |     73221 | PA      | $73448.35     | 0.02%             | 2034-01-25      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 17-2 CLAS B                           | American Airlines 2017-2 Class B                             | CUSIP: 02377DAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    112519 | PA      | $112425.91    | 0.03%             | 2025-10-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QCLD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7821 | PA      | $7483.09      | 0.00%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617MRJ47<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     19436 | PA      | $18350.61     | 0.00%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                           | FMC Corp                                                     | CUSIP: 302491AU9<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |    419000 | PA      | $395663.96    | 0.10%             | 2029-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                           | Toyota Motor Credit Corp                                     | CUSIP: 89236TNR2<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    695000 | PA      | $696820.86    | 0.18%             | 2028-09-05      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617MHSV9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17193 | PA      | $16254.31     | 0.00%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                           | AerCap Ireland Capital DAC / AerCap Global Aviation Trust    | CUSIP: 00774MBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    270000 | PA      | $275786.75    | 0.07%             | 2027-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179SUV7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     28781 | PA      | $26700.60     | 0.01%             | 2047-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3138EH4B5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     39673 | PA      | $39428.27     | 0.01%             | 2027-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                     | Lowe's Cos Inc                                               | CUSIP: 548661EP8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    385000 | PA      | $385986.84    | 0.10%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 31425WYY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     69115 | PA      | $71689.85     | 0.02%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                             | General Motors Financial Co Inc                              | CUSIP: 37045XEQ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    393000 | PA      | $399662.78    | 0.10%             | 2027-05-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                             | Marvell Technology Inc                                       | CUSIP: 573874AR5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $162084.00    | 0.04%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                            | Booz Allen Hamilton Inc                                      | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |   1005000 | PA      | $985391.54    | 0.25%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC.                                  | Crown Castle Inc                                             | CUSIP: 22823PX24<br>LEI: 54930012H97VSM0I2R19 | Long             | STIV             |  | US        |   1050000 | PA      | $1049732.57   | 0.27%             | 2025-10-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                           | Cheniere Corpus Christi Holdings LLC                         | CUSIP: 16412XAG0<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    547000 | PA      | $552969.03    | 0.14%             | 2027-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                             | US 10YR ULTRA FUT DEC25                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -28 | NC      | $-27352.27    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC                                       | Enbridge Inc                                                 | CUSIP: 29250NBX2<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    190000 | PA      | $199872.26    | 0.05%             | 2028-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Octane Receivables Trust                           | Octane Receivables Trust 2024-RVM1                           | CUSIP: 67579FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    274611 | PA      | $278211.53    | 0.07%             | 2046-01-22      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                       | Dell Equipment Finance Trust 2025-1                          | CUSIP: 24703UAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101541.58    | 0.03%             | 2031-02-24      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                             | Daimler Truck Finance North America LLC                      | CUSIP: 233853AY6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    345000 | PA      | $350607.66    | 0.09%             | 2027-09-25      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS Group AG                                                 | CUSIP: 225401BC1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    425000 | PA      | $435662.07    | 0.11%             | 2027-12-22      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERVICE CORP                           | Health Care Service Corp A Mutual Legal Reserve Co           | CUSIP: 42218SAK4<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |    290000 | PA      | $297917.98    | 0.08%             | 2029-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                    | CVS Health Corp                                              | CUSIP: 126650DS6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1176000 | PA      | $1177681.62   | 0.30%             | 2026-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3138EHGN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    101656 | PA      | $105432.23    | 0.03%             | 2038-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                | American Tower Corp                                          | CUSIP: 03027XBL3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    931000 | PA      | $918395.77    | 0.23%             | 2026-04-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                              | HPEFS Equipment Trust 2023-2                                 | CUSIP: 44328UAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $126949.73    | 0.03%             | 2031-07-21      | Fixed         | 6.97%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                   | Duke Energy Corp                                             | CUSIP: 26441CBS3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    280000 | PA      | $281301.94    | 0.07%             | 2028-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receivables Trust           | Americredit Automobile Receivables Trust 2023-1              | CUSIP: 03067BAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    380000 | PA      | $387197.31    | 0.10%             | 2028-12-18      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes            | Santander Bank Auto Credit-Linked Notes Series 2024-B        | CUSIP: 80280BAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $251346.10    | 0.06%             | 2033-01-18      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| SCF Equipment Trust Llc                            | SCF Equipment Leasing 2023-1 LLC                             | CUSIP: 784024AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    284037 | PA      | $288294.96    | 0.07%             | 2032-05-20      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140M7LH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    112293 | PA      | $116584.73    | 0.03%             | 2055-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                             | Pacific Gas and Electric Co                                  | CUSIP: 694308JP3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    285000 | PA      | $284093.01    | 0.07%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QM4V3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    652891 | PA      | $555591.15    | 0.14%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DOLLAR GENERAL CORP                                | Dollar General Corp                                          | CUSIP: 256677AN5<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    347000 | PA      | $355099.37    | 0.09%             | 2028-07-05      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Clarus Capital Funding LLC                         | Clarus Capital Funding 2024-1 LLC                            | CUSIP: 18271JAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     61125 | PA      | $61338.80     | 0.02%             | 2032-08-20      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Refi Loan Trust 2020-C             | CUSIP: 63941KAB1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    503690 | PA      | $484207.14    | 0.12%             | 2068-11-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL                           | Jackson National Life Global Funding                         | CUSIP: 46849LUZ2<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |    615000 | PA      | $619449.00    | 0.16%             | 2026-04-10      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                | American Express Co                                          | CUSIP: 025816ED7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    625000 | PA      | $634849.68    | 0.16%             | 2029-04-25      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                          | Kroger Co/The                                                | CUSIP: 501044DE8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    404000 | PA      | $398374.84    | 0.10%             | 2026-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                                | American Tower Corp                                          | CUSIP: 03027XAP5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    379000 | PA      | $375349.47    | 0.10%             | 2027-07-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | Hyundai Capital America                                      | CUSIP: 44891ACQ8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    260000 | PA      | $260377.40    | 0.07%             | 2025-11-03      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                   | LPL Holdings Inc                                             | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114789.10    | 0.03%             | 2027-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                   | COLT 2020-3 Mortgage Loan Trust                              | CUSIP: 12597QAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4804 | PA      | $4743.48      | 0.00%             | 2065-04-27      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                         | Intel Corp                                                   | CUSIP: 458140BZ2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    350000 | PA      | $346300.63    | 0.09%             | 2029-08-05      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3133KH3Q7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     44349 | PA      | $43487.63     | 0.01%             | 2050-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                  | Battalion Clo XXI Ltd                                        | CUSIP: 07134WAS2<br>LEI: 549300EOF4JL75TYXX49 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249674.59    | 0.06%             | 2034-07-15      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                            | Imperial Brands Finance PLC                                  | CUSIP: 45262BAF0<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    555000 | PA      | $572755.15    | 0.15%             | 2027-07-27      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                    | Danske Bank A/S                                              | CUSIP: 23636ABJ9<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    385000 | PA      | $387013.19    | 0.10%             | 2030-10-02      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                         | Navient Private Education Refi Loan Trust 2019-G             | CUSIP: 63941JAA6<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    186295 | PA      | $181202.34    | 0.05%             | 2068-10-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ICON INVESTMENTS SIX DAC                           | Icon Investments Six DAC                                     | CUSIP: 45115AAA2<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |    935000 | PA      | $953949.07    | 0.24%             | 2027-05-08      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                             | NXP BV / NXP Funding LLC / NXP USA Inc                       | CUSIP: 62954HBF4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    190000 | PA      | $190271.65    | 0.05%             | 2028-08-19      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                           | Thermo Fisher Scientific Inc                                 | CUSIP: 883556CK6<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    390000 | PA      | $364956.78    | 0.09%             | 2028-10-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                   | Symphony CLO XXIII Ltd                                       | CUSIP: 87167NDL6<br>LEI: 54930001DQI1CFLYVB48 | Long             | ABS-CBDO         | CORP              | KY        |    738653 | PA      | $738551.31    | 0.19%             | 2034-01-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2024-SLCT                       | CUSIP: 12433JAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $500308.10    | 0.13%             | 2042-01-15      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                             | Marriott International Inc/MD                                | CUSIP: 571903AS2<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    809000 | PA      | $803080.27    | 0.20%             | 2026-06-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| SEB Funding LLC                                    | SEB Funding LLC                                              | CUSIP: 78433DAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    492000 | PA      | $503170.52    | 0.13%             | 2054-04-30      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                              | HPEFS Equipment Trust 2024-2                                 | CUSIP: 40444MAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101193.22    | 0.03%             | 2031-10-20      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                           | Canadian Pacific Railway Co                                  | CUSIP: 13645RBE3<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    315000 | PA      | $306780.19    | 0.08%             | 2026-12-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QUXA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    554158 | PA      | $568733.76    | 0.14%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                     | Enterprise Fleet Financing 2023-2 LLC                        | CUSIP: 29375NAB1<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |    236257 | PA      | $237808.57    | 0.06%             | 2030-04-22      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                        | Freddie Mac Pool                                             | CUSIP: 3132DWES8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1519145 | PA      | $1481440.27   | 0.38%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                | JPMorgan Chase & Co                                          | CUSIP: 46647PEL6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    395000 | PA      | $401017.57    | 0.10%             | 2028-07-22      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                     | Lowe's Cos Inc                                               | CUSIP: 548661EG8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173289.56    | 0.04%             | 2027-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                             | Daimler Truck Finance North America LLC                      | CUSIP: 233853AV2<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    190000 | PA      | $191941.14    | 0.05%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust                       | METLIFE SECURITIZATION TRUST                                 | CUSIP: 59166BAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     47646 | PA      | $45916.31     | 0.01%             | 2055-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                               | Utah Acquisition Sub Inc                                     | CUSIP: 62854AAN4<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |    564000 | PA      | $561452.54    | 0.14%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                           | Madison Park Funding XXIII Ltd                               | CUSIP: 55820TAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $710311.12    | 0.18%             | 2031-07-27      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                             | Pacific Gas and Electric Co                                  | CUSIP: 694308KF3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71170.23     | 0.02%             | 2027-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                   | Crown Castle Inc                                             | CUSIP: 22822VAB7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    570000 | PA      | $569676.68    | 0.15%             | 2026-02-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                               | Bank of America Corp                                         | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    415000 | PA      | $406711.86    | 0.10%             | 2027-07-22      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                 | Regal Rexnord Corp                                           | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    565000 | PA      | $584454.17    | 0.15%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                     | Starbucks Corp                                               | CUSIP: 855244AV1<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    165000 | PA      | $160227.21    | 0.04%             | 2027-03-12      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TERRAFORM GLOBAL OPERATI                           | Terraform Global Operating LP                                | CUSIP: 88104UAC7<br>LEI: 549300LC7QMVR79H5O86 | Long             | DBT              | CORP              | US        |    352000 | PA      | $347550.86    | 0.09%             | 2026-03-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                | Affirm Master Trust Series 2025-3                            | CUSIP: 00833BAN8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $144786.95    | 0.04%             | 2034-10-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                               | Mercedes-Benz Finance North America LLC                      | CUSIP: 58769JAQ0<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1180481.20   | 0.30%             | 2027-01-11      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ABU DHABI DEVELOPMENT HO                           | Abu Dhabi Developmental Holding Co PJSC                      | CUSIP: 000000000<br>LEI: 254900G082ZFKTCR2Q75 | Long             | DBT              | CORP              | AE        |    765000 | PA      | $774112.95    | 0.20%             | 2030-05-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | Hyundai Capital America                                      | CUSIP: 44891ACB1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    270000 | PA      | $271367.93    | 0.07%             | 2026-03-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust                                   | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                      | CUSIP: 403956AC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    485000 | PA      | $485757.81    | 0.12%             | 2037-05-15      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 31402RDF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1467 | PA      | $1541.98      | 0.00%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                            | Carmax Auto Owner Trust 2023-3                               | CUSIP: 14319BAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    655000 | PA      | $668914.95    | 0.17%             | 2029-02-15      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| EMD FINANCE LLC                                    | EMD Finance LLC                                              | CUSIP: 26867LAN0<br>LEI: 529900C8KS5G529A0B76 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1035364.11   | 0.26%             | 2028-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                             | Williams Cos Inc/The                                         | CUSIP: 969457CR9<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    550000 | PA      | $554686.74    | 0.14%             | 2030-06-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                       | Hilton Grand Vacations Trust 2023-1                          | CUSIP: 432917AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     62053 | PA      | $64017.98     | 0.02%             | 2038-01-25      | Fixed         | 6.94%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                             | Pacific Gas and Electric Co                                  | CUSIP: 694308HS9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138116.52    | 0.04%             | 2027-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GLOBAL FUNDING                           | Fortitude Global Funding                                     | CUSIP: 34967GAA2<br>LEI: 635400TKBOGEHNO5RT68 | Long             | DBT              | CORP              | US        |    390000 | PA      | $390246.31    | 0.10%             | 2028-10-06      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL                            | Southern Co Gas Capital Corp                                 | CUSIP: 8426EPAJ7<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    360000 | PA      | $359612.79    | 0.09%             | 2028-09-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 3617MHSW7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4110 | PA      | $3882.63      | 0.00%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                         | Fannie Mae Pool                                              | CUSIP: 3140QVLJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    199115 | PA      | $202434.94    | 0.05%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                           | Rogers Communications Inc                                    | CUSIP: 775109DE8<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    990000 | PA      | $1008895.66   | 0.26%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SYDNEY AIRPORT FINANCE                             | Sydney Airport Finance Co Pty Ltd                            | CUSIP: 87124VAF6<br>LEI: 549300MJAANHLHOVTO40 | Long             | DBT              | CORP              | AU        |    117000 | PA      | $116460.08    | 0.03%             | 2026-04-28      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                              | KKR CLO 18 Ltd                                               | CUSIP: 48251JAS2<br>LEI: 54930088PYF0FHKY5C94 | Long             | ABS-CBDO         | CORP              | KY        |   1570000 | PA      | $1570684.27   | 0.40%             | 2035-10-18      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association           | Ginnie Mae II Pool                                           | CUSIP: 36179XFG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    164029 | PA      | $155403.18    | 0.04%             | 2052-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes            | Santander Bank Auto Credit-Linked Notes Series 2024-A        | CUSIP: 80290CCJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    185770 | PA      | $187764.66    | 0.05%             | 2032-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ROSS STORES INC                                    | Ross Stores Inc                                              | CUSIP: 778296AF0<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | DBT              | CORP              | US        |    765000 | PA      | $751082.32    | 0.19%             | 2026-04-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

**Name of Applicant:** NORTHWESTERN MUTUAL SERIES FUND INC

**Signature:** Linda Wisniewski

**Name of Signer:** Linda Wisniewski

**Title:** Controller and Chief Accounting Officer