# EDGAR Filing Document

**Accession Number:** 0001710607
**File Stem:** 0001193125-26-024627
**Filing Date:** 2026-1
**Character Count:** 231022
**Document Hash:** 4e2b78308b4365001667a9154a23de35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-024627.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0001193125-26-024627

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY ETF TRUST
- **CENTRAL INDEX KEY:** 0001710607

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23305
- **FILM NUMBER:** 26566244

**BUSINESS ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111
- **BUSINESS PHONE:** (816) 531-5575

**MAIL ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** American Century ETF Trust
- **DATE OF NAME CHANGE:** 20170628

## Series and Classes Contracts Data

### American Century Short Duration Strategic Income ETF (Series ID: S000077487)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000237948 | American Century Short Duration Strategic Income ETF | SDSI            |

## Nport-Ex

**American Century Investments**<sup>®</sup>

**Quarterly Portfolio Holdings**

**American Century**<sup>®</sup> **Short Duration Strategic Income ETF(SDSI)**

**November 30, 2025**

------

---

| |
|:---|
| **<u>Short Duration Strategic Income ETF - Schedule of Investments</u>** |
| **NOVEMBER 30, 2025 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount ($)/Shares** | **Value ($)** |
| **CORPORATE BONDS — 46.0%** |  |  |
| **Aerospace and Defense — 1.6%** |  |  |
| Boeing Co., 6.30%, 5/1/29 | 889000 | 945715 |
| Spirit AeroSystems, Inc., 4.60%, 6/15/28<sup>(1)</sup> | 830000 | 834978 |
| TransDigm, Inc., 4.875%, 5/1/29 | 350000 | 348120 |
|  |  | 2128813 |
| **Automobiles — 0.7%** |  |  |
| Ford Motor Credit Co. LLC, 5.125%, 11/5/26 | 500000 | 502506 |
| Nissan Motor Acceptance Co. LLC, 6.95%, 9/15/26<sup>(2)</sup> | 425000 | 430121 |
|  |  | 932627 |
| **Banks — 7.4%** |  |  |
| ABN AMRO Bank NV, VRN, 3.32%, 3/13/37<sup>(2)</sup> | 400000 | 367170 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 200000 | 212915 |
| Bank of Nova Scotia, VRN, 8.625%, 10/27/82 | 370000 | 393159 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 665000 | 712690 |
| Comerica, Inc., VRN, 5.98%, 1/30/30 | 855000 | 891462 |
| First Horizon Bank, 5.75%, 5/1/30 | 285000 | 295469 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(2)</sup> | 741000 | 777453 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(2)</sup> | 434000 | 414035 |
| KBC Group NV, VRN, 4.45%, 9/23/31<sup>(2)</sup> | 222000 | 221929 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 710000 | 722389 |
| Morgan Stanley Private Bank NA, VRN, 4.47%, 11/19/31 | 642000 | 645654 |
| Royal Bank of Canada, VRN, 4.00%, 11/3/28 | 560000 | 559250 |
| Toronto-Dominion Bank, 4.11%, 10/13/28 | 415000 | 416051 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 400000 | 421721 |
| Truist Bank, VRN, 4.63%, 9/17/29 | 530000 | 533738 |
| Truist Bank, VRN, 4.14%, 10/23/29 | 619000 | 619042 |
| Zions Bancorp NA, 3.25%, 10/29/29 | 700000 | 654167 |
| Zions Bancorp NA, VRN, 4.70%, 8/18/28 | 672000 | 671534 |
|  |  | 9529828 |
| **Building Products — 0.6%** |  |  |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(2)</sup> | 215000 | 204525 |
| Standard Industries, Inc., 4.75%, 1/15/28<sup>(2)</sup> | 515000 | 514000 |
|  |  | 718525 |
| **Capital Markets — 4.4%** |  |  |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 260000 | 263560 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 355000 | 363168 |
| Blue Owl Capital Corp., 3.40%, 7/15/26 | 510000 | 506052 |
| Blue Owl Capital Corp., 5.95%, 3/15/29 | 525000 | 531777 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29 | 310000 | 328037 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(2)</sup> | 436000 | 437168 |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(2)</sup> | 575000 | 544230 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 161000 | 169570 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(2)</sup> | 310000 | 312035 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(2)</sup> | 155000 | 153923 |
| Morgan Stanley, VRN, 4.13%, 10/18/29 | 495000 | 495048 |
| North Haven Private Income Fund LLC, 5.125%, 9/25/28<sup>(2)</sup> | 77000 | 76765 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | 1513000 | 1489785 |
|  |  | 5671118 |

---

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---

| | | |
|:---|:---|:---|
| **Chemicals — 0.2%** |  |  |
| Braskem Netherlands Finance BV, 4.50%, 1/31/30<sup>(1)(2)</sup> | 203000 | 72453 |
| Celanese U.S. Holdings LLC, 6.67%, 7/15/27 | 150000 | 154497 |
|  |  | 226950 |
| **Consumer Finance — 0.9%** |  |  |
| Avilease Capital Ltd., 4.75%, 11/12/30<sup>(2)</sup> | 240000 | 238858 |
| Bread Financial Holdings, Inc., 6.75%, 5/15/31<sup>(2)</sup> | 315000 | 321972 |
| Stellantis Financial Services U.S. Corp., 4.95%, 9/15/28<sup>(2)</sup> | 640000 | 645285 |
|  |  | 1206115 |
| **Consumer Staples Distribution & Retail — 0.1%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.50%, 3/31/31<sup>(2)</sup> | 155000 | 157312 |
| **Diversified REITs — 2.4%** |  |  |
| Brandywine Operating Partnership LP, 8.875%, 4/12/29 | 465000 | 504018 |
| Equinix Europe 2 Financing Corp. LLC, 4.60%, 11/15/30 | 425000 | 427882 |
| Global Net Lease, Inc., 4.50%, 9/30/28<sup>(2)</sup> | 480000 | 468284 |
| Kilroy Realty LP, 4.25%, 8/15/29 | 450000 | 442193 |
| Kilroy Realty LP, 3.05%, 2/15/30 | 215000 | 199454 |
| MPT Operating Partnership LP/MPT Finance Corp., 8.50%, 2/15/32<sup>(2)</sup> | 103000 | 108947 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 220000 | 233894 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(2)</sup> | 400000 | 386986 |
| Vornado Realty LP, 2.15%, 6/1/26 | 363000 | 358223 |
|  |  | 3129881 |
| **Diversified Telecommunication Services — 0.8%** |  |  |
| AT&T, Inc., 7.30%, 8/15/26 | 45000 | 45782 |
| Frontier Communications Holdings LLC, 8.625%, 3/15/31<sup>(2)</sup> | 370000 | 391150 |
| Sprint Capital Corp., 6.875%, 11/15/28 | 535000 | 576331 |
|  |  | 1013263 |
| **Electric Utilities — 1.8%** |  |  |
| Alliant Energy Corp., VRN, 5.75%, 4/1/56 | 432000 | 431804 |
| American Electric Power Co., Inc., VRN, 5.80%, 3/15/56 | 53000 | 52669 |
| American Electric Power Co., Inc., VRN, 6.05%, 3/15/56 | 52000 | 52066 |
| Duke Energy Florida LLC, 4.20%, 12/1/30 | 134000 | 134309 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 | 208000 | 209702 |
| EUSHI Finance, Inc., VRN, 6.25%, 4/1/56 | 289000 | 289515 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(2)</sup> | 252000 | 255317 |
| Jersey Central Power & Light Co., 4.15%, 1/15/29<sup>(2)</sup> | 677000 | 677595 |
| VoltaGrid LLC, 7.375%, 11/1/30<sup>(2)</sup> | 141000 | 140706 |
| XPLR Infrastructure Operating Partners LP, 7.75%, 4/15/34<sup>(2)</sup> | 126000 | 128184 |
|  |  | 2371867 |
| **Electrical Equipment — 0.3%** |  |  |
| Regal Rexnord Corp., 6.05%, 2/15/26 | 325000 | 325765 |
| **Electronic Equipment, Instruments and Components — 0.2%** |  |  |
| Amphenol Corp., 3.90%, 11/15/28 | 270000 | 270166 |
| **Entertainment — 0.5%** |  |  |
| Warnermedia Holdings, Inc., 3.76%, 3/15/27 | 610000 | 595207 |
| **Financial Services — 2.9%** |  |  |
| Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28<sup>(2)</sup> | 560000 | 578497 |
| Corebridge Global Funding, 4.45%, 10/2/30<sup>(2)</sup> | 456000 | 455443 |
| Essent Group Ltd., 6.25%, 7/1/29 | 380000 | 397498 |
| Global Payments, Inc., 4.50%, 11/15/28 | 465000 | 466663 |
| Nationwide Building Society, 4.35%, 9/30/30<sup>(2)</sup> | 215000 | 215222 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(2)</sup> | 500000 | 495910 |
| NMI Holdings, Inc., 6.00%, 8/15/29 | 455000 | 471416 |
| Rocket Cos., Inc., 6.125%, 8/1/30<sup>(2)</sup> | 515000 | 535004 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(2)</sup> | 65000 | 68147 |

---

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| | | |
|:---|:---|:---|
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(2)</sup> | 71000 | 71361 |
|  |  | 3755161 |
| **Food Products — 0.1%** |  |  |
| MARB BondCo PLC, 3.95%, 1/29/31<sup>(2)</sup> | 200000 | 180763 |
| **Gas Utilities — 0.1%** |  |  |
| Spire, Inc., VRN, 6.25%, 6/1/56 | 190000 | 188614 |
| **Ground Transportation — 0.3%** |  |  |
| Ashtead Capital, Inc., 4.375%, 8/15/27<sup>(2)</sup> | 350000 | 350043 |
| **Health Care Equipment and Supplies — 0.9%** |  |  |
| Baxter International, Inc., 4.45%, 2/15/29<sup>(3)</sup> | 430000 | 431994 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(2)</sup> | 658000 | 681405 |
|  |  | 1113399 |
| **Health Care Providers and Services — 0.6%** |  |  |
| Acadia Healthcare Co., Inc., 5.00%, 4/15/29<sup>(2)</sup> | 270000 | 262549 |
| IQVIA, Inc., 5.00%, 5/15/27<sup>(2)</sup> | 375000 | 375237 |
| Universal Health Services, Inc., 1.65%, 9/1/26<sup>(1)</sup> | 175000 | 171361 |
|  |  | 809147 |
| **Hotel & Resort REITs — 0.3%** |  |  |
| Service Properties Trust, 0.00%, 9/30/28<sup>(2)(4)</sup> | 491000 | 439861 |
| **Hotels, Restaurants and Leisure — 0.1%** |  |  |
| Carnival Corp., 5.125%, 5/1/29<sup>(2)</sup> | 181000 | 182628 |
| **Household Durables — 0.6%** |  |  |
| Taylor Morrison Communities, Inc., 5.75%, 1/15/28<sup>(2)</sup> | 544000 | 556119 |
| TopBuild Corp., 3.625%, 3/15/29<sup>(2)</sup> | 288000 | 278106 |
|  |  | 834225 |
| **Independent Power and Renewable Electricity Producers — 0.7%** |  |  |
| Calpine Corp., 5.00%, 2/1/31<sup>(2)</sup> | 487000 | 488363 |
| Greenko Wind Projects Mauritius Ltd., 7.25%, 9/27/28<sup>(2)</sup> | 420000 | 424273 |
|  |  | 912636 |
| **Insurance — 2.1%** |  |  |
| Aspen Insurance Holdings Ltd., 5.75%, 7/1/30 | 425000 | 445649 |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 705000 | 735598 |
| Fortitude Global Funding, 4.625%, 10/6/28<sup>(2)</sup> | 282000 | 282331 |
| GA Global Funding Trust, 4.40%, 9/23/27<sup>(2)</sup> | 395000 | 396139 |
| Global Atlantic Fin Co., 4.40%, 10/15/29<sup>(2)</sup> | 520000 | 511765 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(2)</sup> | 296000 | 290335 |
|  |  | 2661817 |
| **Interactive Media and Services — 0.4%** |  |  |
| Alphabet, Inc., 3.875%, 11/15/28 | 470000 | 472883 |
| **Media — 2.9%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(2)</sup> | 642000 | 641496 |
| Discovery Communications LLC, 3.95%, 3/20/28 | 222000 | 210900 |
| Discovery Communications LLC, 4.125%, 5/15/29 | 340000 | 330980 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(2)</sup> | 650000 | 645101 |
| Paramount Global, 2.90%, 1/15/27 | 1055000 | 1037569 |
| Paramount Global, 4.95%, 1/15/31 | 199000 | 196460 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(2)</sup> | 440000 | 429283 |
| Univision Communications, Inc., 7.375%, 6/30/30<sup>(2)</sup> | 195000 | 197992 |
|  |  | 3689781 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.2%** |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(2)</sup> | 234000 | 248246 |
| **Multi-Utilities — 0.8%** |  |  |
| Black Hills Corp., 4.55%, 1/31/31 | 425000 | 425553 |
| Sempra, VRN, 4.125%, 4/1/52 | 466000 | 454396 |

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| | | |
|:---|:---|:---|
| WEC Energy Group, Inc., VRN, 5.625%, 5/15/56 | 185000 | 187882 |
|  |  | 1067831 |
| **Oil, Gas and Consumable Fuels — 5.6%** |  |  |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 7/15/29<sup>(2)</sup> | 275000 | 287017 |
| Cenovus Energy, Inc., 4.65%, 3/20/31 | 634000 | 636063 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 685000 | 687870 |
| Energy Transfer LP, 5.625%, 5/1/27<sup>(2)</sup> | 1150000 | 1150049 |
| EOG Resources, Inc., 4.40%, 1/15/31 | 444000 | 446247 |
| Equinor ASA, 4.50%, 9/3/30 | 471000 | 480048 |
| Expand Energy Corp., 5.375%, 3/15/30 | 365000 | 370181 |
| Ovintiv, Inc., 7.20%, 11/1/31 | 158000 | 175724 |
| Ovintiv, Inc., 7.375%, 11/1/31 | 127000 | 142123 |
| Permian Resources Operating LLC, 5.875%, 7/1/29<sup>(2)</sup> | 129000 | 129514 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 932000 | 900424 |
| PRIO Luxembourg Holding SARL, 6.75%, 10/15/30<sup>(1)(2)</sup> | 200000 | 196001 |
| Repsol E&P Capital Markets U.S. LLC, 5.20%, 9/16/30<sup>(2)</sup> | 402000 | 405832 |
| Shell Finance U.S., Inc., 4.125%, 11/6/30 | 277000 | 278506 |
| Sunoco LP, 5.875%, 3/15/34<sup>(2)</sup> | 174000 | 175239 |
| Targa Resources Corp., 4.35%, 1/15/29 | 443000 | 444563 |
| Venture Global LNG, Inc., 8.125%, 6/1/28<sup>(2)</sup> | 380000 | 389488 |
|  |  | 7294889 |
| **Paper and Forest Products — 0.2%** |  |  |
| Louisiana-Pacific Corp., 3.625%, 3/15/29<sup>(2)</sup> | 321000 | 308725 |
| **Passenger Airlines — 1.3%** |  |  |
| American Airlines Pass-Through Trust, Class A, 3.70%, 4/1/28 | 6587 | 6556 |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)(2)</sup> | 330000 | 338080 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(2)</sup> | 32 | 32 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(2)</sup> | 844000 | 885415 |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(2)</sup> | 425000 | 423139 |
|  |  | 1653222 |
| **Semiconductors and Semiconductor Equipment — 0.3%** |  |  |
| Foundry JV Holdco LLC, 5.50%, 1/25/31<sup>(2)</sup> | 405000 | 421444 |
| **Software — 1.0%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 688000 | 703956 |
| Oracle Corp., 4.45%, 9/26/30 | 589000 | 580616 |
|  |  | 1284572 |
| **Specialized REITs — 1.2%** |  |  |
| EPR Properties, 4.50%, 6/1/27 | 940000 | 941035 |
| SBA Communications Corp., 3.125%, 2/1/29 | 625000 | 597934 |
|  |  | 1538969 |
| **Specialty Retail — 0.1%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(2)</sup> | 97000 | 99080 |
| **Trading Companies and Distributors — 1.2%** |  |  |
| Aircastle Ltd., 6.50%, 7/18/28<sup>(2)</sup> | 180000 | 189152 |
| Aircastle Ltd., 5.95%, 2/15/29<sup>(2)</sup> | 510000 | 532678 |
| Herc Holdings, Inc., 5.50%, 7/15/27<sup>(2)</sup> | 347000 | 347204 |
| Herc Holdings, Inc., 7.00%, 6/15/30<sup>(2)</sup> | 485000 | 509508 |
|  |  | 1578542 |
| **Wireless Telecommunication Services — 0.2%** |  |  |
| Digicel International Finance Ltd./Difl U.S. LLC, 8.625%, 8/1/32<sup>(2)</sup> | 200000 | 204904 |
| **TOTAL CORPORATE BONDS**<br>(Cost $59,217,313) |  | **59568819** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 15.3%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 15.2%** |  |  |
| Angel Oak Mortgage Trust, Series 2020-5, Class A2, SEQ, VRN, 1.58%, 5/25/65<sup>(2)</sup> | 34820 | 33705 |

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| | | |
|:---|:---|:---|
| Bravo Residential Funding Trust, Series 2025-NQM3, Class A1, 5.57%, 3/25/65<sup>(2)</sup> | 193876 | 195392 |
| Bravo Residential Funding Trust, Series 2025-NQM9, Class A3, 5.55%, 9/25/65<sup>(2)</sup> | 420959 | 422985 |
| BRAVO Residential Funding Trust, Series 2025-NQM4, Class A2, 5.82%, 2/25/65<sup>(2)</sup> | 507993 | 511814 |
| BRAVO Residential Funding Trust, Series 2025-NQM7, Class A1B, 5.46%, 7/25/65<sup>(2)</sup> | 284928 | 287392 |
| BRAVO Trust, Series 2025-SR1, Class A1, SEQ, 3.00%, 3/25/45<sup>(2)</sup> | 389238 | 375615 |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A6A, SEQ, VRN, 6.00%, 2/25/55<sup>(2)</sup> | 142194 | 143142 |
| Chase Home Lending Mortgage Trust, Series 2024-3, Class A4, SEQ, VRN, 6.00%, 2/25/55<sup>(2)</sup> | 130226 | 131788 |
| Chase Home Lending Mortgage Trust, Series 2024-6, Class A9A, VRN, 6.00%, 5/25/55<sup>(2)</sup> | 120978 | 122351 |
| Chase Home Lending Mortgage Trust, Series 2024-7, Class A4, VRN, 6.00%, 6/25/55<sup>(2)</sup> | 260992 | 263613 |
| Chase Home Lending Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 8/25/55<sup>(2)</sup> | 55364 | 55367 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(2)</sup> | 105252 | 105466 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(2)</sup> | 33473 | 33452 |
| Chase Home Lending Mortgage Trust, Series 2025-2, Class A4, VRN, 6.00%, 12/25/55<sup>(2)</sup> | 270686 | 274408 |
| Chase Home Lending Mortgage Trust, Series 2025-5, Class A4A, VRN, 5.50%, 4/25/56<sup>(2)</sup> | 236182 | 238099 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A4, VRN, 6.00%, 6/25/56<sup>(2)</sup> | 682010 | 692462 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A9, VRN, 6.25%, 6/25/56<sup>(2)</sup> | 270285 | 275451 |
| Chase Home Lending Mortgage Trust, Series 2025-9, Class A4A, VRN, 5.50%, 6/25/56<sup>(2)</sup> | 367143 | 370537 |
| Citigroup Mortgage Loan Trust, Inc., Series 2024-1, Class A7A, VRN, 6.00%, 7/25/54<sup>(2)</sup> | 98654 | 99906 |
| Citigroup Mortgage Loan Trust, Inc., Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(2)</sup> | 194210 | 195116 |
| Citigroup Mortgage Loan Trust, Inc., Series 2024-CMI1, Class A5, VRN, 5.50%, 6/25/54<sup>(2)</sup> | 139079 | 139158 |
| Citigroup Mortgage Loan Trust, Inc., Series 2025-2, Class A10, VRN, 6.00%, 2/25/55<sup>(2)</sup> | 340809 | 345956 |
| Cross Mortgage Trust, Series 2024-H3, Class A2, 6.58%, 6/25/69<sup>(2)</sup> | 174161 | 176196 |
| EFMT, Series 2025-NQM3, Class A1B, 5.49%, 8/25/70<sup>(2)</sup> | 380763 | 382660 |
| Ellington Financial Mortgage Trust, Series 2020-1, Class A1, VRN, 2.01%, 5/25/65<sup>(2)</sup> | 628 | 626 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ7, Class A7, SEQ, VRN, 5.50%, 11/25/54<sup>(2)</sup> | 104807 | 104803 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ8, Class A3, VRN, 5.00%, 2/25/55<sup>(2)</sup> | 351667 | 350103 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ5, Class A5, VRN, 5.50%, 10/25/55<sup>(2)</sup> | 172932 | 174254 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ6, Class A4, SEQ, VRN, 6.00%, 11/25/55<sup>(2)</sup> | 305832 | 310755 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ7, Class A5, VRN, 5.50%, 12/25/55<sup>(2)</sup> | 272902 | 274740 |
| JP Morgan Mortgage Trust, Series 2023-6, Class A4, SEQ, VRN, 6.00%, 12/26/53<sup>(2)</sup> | 162581 | 164764 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A4, SEQ, VRN, 6.00%, 2/25/54<sup>(2)</sup> | 272676 | 275877 |
| JP Morgan Mortgage Trust, Series 2024-1, Class A4, SEQ, VRN, 6.00%, 6/25/54<sup>(2)</sup> | 156608 | 157497 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(2)</sup> | 133108 | 133417 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A4, VRN, 6.00%, 4/25/55<sup>(2)</sup> | 203719 | 206018 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(2)</sup> | 57293 | 57514 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(2)</sup> | 32140 | 32175 |
| JP Morgan Mortgage Trust, Series 2024-8, Class A3, VRN, 5.50%, 1/25/55<sup>(2)</sup> | 121577 | 122441 |
| JP Morgan Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 1/25/55<sup>(2)</sup> | 58476 | 58498 |
| JP Morgan Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 2/25/55<sup>(2)</sup> | 59636 | 59683 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(2)</sup> | 120490 | 122505 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A3, 6.16%, 11/25/55<sup>(2)</sup> | 245124 | 247751 |
| JP Morgan Mortgage Trust, Series 2025-7MPR, Class A1D, SEQ, 5.32%, 2/25/56<sup>(2)</sup> | 571302 | 573111 |
| JP Morgan Mortgage Trust, Series 2025-CCM2, Class A4, SEQ, VRN, 6.00%, 9/25/55<sup>(2)</sup> | 376472 | 382845 |
| JP Morgan Mortgage Trust, Series 2025-NQM2, Class A1B, 5.57%, 9/25/65<sup>(2)</sup> | 234231 | 235892 |
| JP Morgan Mortgage Trust, Series 2025-NQM3, Class A1B, 5.50%, 11/25/65<sup>(2)</sup> | 560169 | 563796 |
| MFA Trust, Series 2023-NQM3, Class A1, SEQ, 6.62%, 7/25/68<sup>(2)</sup> | 134043 | 135142 |
| MFA Trust, Series 2024-NQM1, Class A2, SEQ, 6.83%, 3/25/69<sup>(2)</sup> | 76079 | 77086 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-3, Class A2, VRN, 6.00%, 7/25/54<sup>(2)</sup> | 67268 | 67660 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM1, Class A3, 6.14%, 11/25/69<sup>(2)</sup> | 318828 | 322441 |
| OBX Trust, Series 2022-NQM9, Class A2, 6.45%, 9/25/62<sup>(2)</sup> | 145386 | 144993 |
| OBX Trust, Series 2024-J1, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(2)</sup> | 58501 | 58725 |
| OBX Trust, Series 2024-NQM11, Class A3, 6.23%, 6/25/64<sup>(2)</sup> | 169979 | 171881 |
| OBX Trust, Series 2024-NQM7, Class A1, 6.24%, 3/25/64<sup>(2)</sup> | 245926 | 248720 |
| OBX Trust, Series 2025-J1, Class A4, SEQ, VRN, 6.00%, 5/25/55<sup>(2)</sup> | 289261 | 294191 |
| OBX Trust, Series 2025-J3, Class A5, SEQ, VRN, 5.00%, 10/25/55<sup>(2)</sup> | 307899 | 307578 |

---

------

---

| | | |
|:---|:---|:---|
| OBX Trust, Series 2025-NQM11, Class A1B, 5.42%, 5/25/65<sup>(2)</sup> | 489388 | 492033 |
| OBX Trust, Series 2025-NQM13, Class A1B, 5.44%, 5/25/65<sup>(2)</sup> | 533926 | 536942 |
| PMT Loan Trust, Series 2025-J2, Class A9, VRN, 5.50%, 8/25/56<sup>(2)</sup> | 437418 | 441285 |
| PMT Loan Trust, Series 2025-J3, Class A8, VRN, 5.50%, 11/27/56<sup>(2)</sup> | 309853 | 311888 |
| PRKCM Trust, Series 2024-HOME1, Class A1, 6.43%, 5/25/59<sup>(2)</sup> | 211730 | 214806 |
| PRKCM Trust, Series 2025-AFC1, Class A1, VRN, 5.10%, 10/25/60<sup>(2)</sup> | 519730 | 520506 |
| PRKCM Trust, Series 2025-AFC1, Class A1B, 5.10%, 10/25/60<sup>(2)</sup> | 571619 | 571355 |
| Provident Funding Mortgage Trust, Series 2024-1, Class A2, VRN, 5.50%, 12/25/54<sup>(2)</sup> | 211415 | 212829 |
| Provident Funding Mortgage Trust, Series 2025-3, Class A4, VRN, 5.50%, 8/25/55<sup>(2)</sup> | 281117 | 283099 |
| Radian Mortgage Capital Trust, Series 2025-J2, Class A15, VRN, 5.50%, 11/25/55<sup>(2)</sup> | 312747 | 317103 |
| Rate Mortgage Trust, Series 2024-J1, Class A7, SEQ, VRN, 6.00%, 7/25/54<sup>(2)</sup> | 82971 | 83290 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(2)</sup> | 194952 | 195267 |
| Rate Mortgage Trust, Series 2025-J2, Class A5, VRN, 5.50%, 7/25/55<sup>(2)</sup> | 372066 | 374001 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(2)</sup> | 140434 | 140586 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(2)</sup> | 55329 | 55624 |
| Sequoia Mortgage Trust, Series 2024-4, Class A4, VRN, 6.00%, 5/25/54<sup>(2)</sup> | 178839 | 180569 |
| Sequoia Mortgage Trust, Series 2024-8, Class A11, SEQ, VRN, 5.50%, 9/25/54<sup>(2)</sup> | 78537 | 78529 |
| Sequoia Mortgage Trust, Series 2024-8, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(2)</sup> | 124113 | 124642 |
| Sequoia Mortgage Trust, Series 2024-9, Class A5, SEQ, VRN, 5.50%, 10/25/54<sup>(2)</sup> | 81177 | 81576 |
| Sequoia Mortgage Trust, Series 2025-5, Class A5, SEQ, VRN, 5.50%, 6/25/55<sup>(2)</sup> | 330756 | 332267 |
| Sequoia Mortgage Trust, Series 2025-7, Class A5, SEQ, VRN, 5.50%, 8/25/55<sup>(2)</sup> | 325932 | 327472 |
| Sequoia Mortgage Trust, Series 2025-8, Class A4, VRN, 5.50%, 9/25/55<sup>(2)</sup> | 227322 | 228983 |
| Triangle Re Ltd., Series 2023-1, Class M1A, VRN, 7.47%, (30-day average SOFR plus 3.40%), 11/25/33<sup>(2)</sup> | 33574 | 33872 |
| Verus Securitization Trust, Series 2021-R2, Class A3, VRN, 1.23%, 2/25/64<sup>(2)</sup> | 29371 | 27530 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.22%, 6/25/69<sup>(2)</sup> | 101705 | 102884 |
| Verus Securitization Trust, Series 2024-5, Class A1, 6.19%, 6/25/69<sup>(2)</sup> | 225777 | 228483 |
| Verus Securitization Trust, Series 2024-9, Class A3, 5.89%, 11/25/69<sup>(2)</sup> | 254800 | 257181 |
| Verus Securitization Trust, Series 2025-4, Class A3, 5.75%, 5/25/70<sup>(2)</sup> | 134940 | 135709 |
| Verus Securitization Trust, Series 2025-R1, Class A3, 5.77%, 5/25/65<sup>(2)</sup> | 444465 | 448627 |
| Vista Point Securitization Trust, Series 2020-2, Class A1, VRN, 1.48%, 4/25/65<sup>(2)</sup> | 45533 | 44067 |
|  |  | 19692518 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.1%** |  |  |
| FHLMC, Series 2022-DNA5, Class M1A, VRN, 7.02%, (30-day average SOFR plus 2.95%), 6/25/42<sup>(2)</sup> | 35386 | 36100 |
| FHLMC, Series 2022-DNA6, Class M1A, VRN, 6.22%, (30-day average SOFR plus 2.15%), 9/25/42<sup>(2)</sup> | 20604 | 20710 |
| FNMA, Series 2024-R01, Class 1M1, VRN, 5.12%, (30-day average SOFR plus 1.05%), 1/25/44<sup>(2)</sup> | 70811 | 70771 |
|  |  | 127581 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $19,714,496) |  | **19820099** |
| **U.S. TREASURY SECURITIES — 10.6%** |  |  |
| U.S. Treasury Notes, 4.625%, 6/15/27<sup>(5)</sup> | 525000 | 533408 |
| U.S. Treasury Notes, 3.50%, 9/30/27 | 12200000 | 12197141 |
| U.S. Treasury Notes, 3.50%, 10/31/27 | 1000000 | 999805 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $13,700,503) |  | **13730354** |
| **ASSET-BACKED SECURITIES — 8.6%** |  |  |
| ACM Auto Trust, Series 2023-2A, Class B, 9.85%, 6/20/30<sup>(2)</sup> | 211874 | 214192 |
| ACM Auto Trust, Series 2025-2A, Class A, SEQ, 5.55%, 6/20/28<sup>(2)</sup> | 415949 | 416076 |
| Aligned Data Centers Issuer LLC, Series 2022-1A, Class A2, SEQ, 6.35%, 10/15/47<sup>(2)</sup> | 250000 | 250123 |
| BHG Securitization Trust, Series 2025-1CON, Class B, 5.26%, 4/17/36<sup>(2)</sup> | 237479 | 240209 |
| CARS-DB5 LP, Series 2021-1A, Class A3, SEQ, 1.92%, 8/15/51<sup>(2)</sup> | 246406 | 240136 |
| Centersquare Issuer LLC, Series 2025-3A, Class A2, SEQ, 5.00%, 8/25/55<sup>(2)</sup> | 360266 | 349798 |
| Cherry Securitization Trust, Series 2025-1A, Class B, 6.53%, 11/15/32<sup>(2)</sup> | 365000 | 371557 |
| College Avenue Student Loans LLC, Series 2019-A, Class C, 4.46%, 12/28/48<sup>(2)</sup> | 313511 | 308171 |
| Concord Music Royalties LLC, Series 2024-1A, Class A, SEQ, 5.64%, 10/20/74<sup>(2)</sup> | 413000 | 416461 |
| Concord Music Royalties LLC, Series 2025-1A, Class A2, SEQ, 5.51%, 7/20/75<sup>(2)</sup> | 251000 | 252634 |

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------

---

| | | |
|:---|:---|:---|
| DataBank Issuer LLC, Series 2023-1A, Class A2, SEQ, 5.12%, 2/25/53<sup>(2)</sup> | 302000 | 301233 |
| Diamond Issuer LLC, Series 2021-1A, Class A, SEQ, 2.31%, 11/20/51<sup>(2)</sup> | 165000 | 157031 |
| EDI ABS Issuer 1 LLC, Series 2025-1A, Class B, 4.55%, 7/25/55<sup>(2)</sup> | 147000 | 140312 |
| Flexential Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.25%, 11/27/51<sup>(2)</sup> | 45714 | 45003 |
| Flexential Issuer LLC, Series 2025-1A, Class A2, SEQ, 6.03%, 10/25/60<sup>(2)</sup> | 463000 | 463041 |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-4GS, Class A, SEQ, 1.93%, 7/20/48<sup>(2)</sup> | 175136 | 145146 |
| GS Mortgage-Backed Securities Trust, Series 2024-HE1, Class A1, VRN, 5.67%, (30-day average SOFR plus 1.60%), 8/25/54<sup>(2)</sup> | 172234 | 172722 |
| Hilton Grand Vacations Trust, Series 2019-AA, Class A, SEQ, 2.34%, 7/25/33<sup>(2)</sup> | 226938 | 225884 |
| Hilton Grand Vacations Trust, Series 2024-2A, Class D, 6.91%, 3/25/38<sup>(2)</sup> | 56665 | 58398 |
| JP Morgan Mortgage Trust, Series 2025-CES5, Class A1A, 5.14%, 2/25/56<sup>(2)</sup> | 513162 | 516579 |
| JP Morgan Mortgage Trust, Series 2025-CES5, Class A1B, 5.24%, 2/25/56<sup>(2)</sup> | 529778 | 533300 |
| LMRK Issuer Co. 2 LLC, Series 2025-1A, Class A, SEQ, 5.52%, 9/15/55<sup>(2)</sup> | 288000 | 292205 |
| Lyra Music Assets Delaware LP, Series 2024-2A, Class A2, SEQ, 5.76%, 12/22/64<sup>(2)</sup> | 261625 | 265978 |
| Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, SEQ, 5.60%, 9/20/65<sup>(2)</sup> | 155000 | 157148 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 5.41%, 9/15/31<sup>(2)</sup> | 246000 | 246954 |
| Mosaic Solar Loan Trust, Series 2021-3A, Class B, 1.92%, 6/20/52<sup>(2)</sup> | 414769 | 322237 |
| Mosaic Solar Loan Trust, Series 2023-2A, Class A, SEQ, 5.36%, 9/22/53<sup>(2)</sup> | 142104 | 137774 |
| MVW LLC, Series 2020-1A, Class C, 4.21%, 10/20/37<sup>(2)</sup> | 40761 | 40464 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(2)</sup> | 200000 | 137958 |
| OnDeck Asset Securitization Trust IV LLC, Series 2024-2A, Class B, 5.42%, 10/17/31<sup>(2)</sup> | 143000 | 143486 |
| PK Alift Loan Funding 3 LP, Series 2024-1, Class A1, SEQ, 5.84%, 9/15/39<sup>(2)</sup> | 150782 | 154689 |
| PowerPay Issuance Trust, Series 2025-1A, Class A, SEQ, 5.23%, 11/18/41<sup>(2)</sup> | 304329 | 305606 |
| RCKT Mortgage Trust, Series 2024-CES1, Class A1A, VRN, 6.03%, 2/25/44<sup>(2)</sup> | 157750 | 159149 |
| RCKT Mortgage Trust, Series 2024-CES3, Class A1A, VRN, 6.59%, 5/25/44<sup>(2)</sup> | 63515 | 64488 |
| RCKT Trust, Series 2025-1A, Class D, 5.42%, 7/25/34<sup>(2)</sup> | 138000 | 138839 |
| Research-Driven Pagaya Motor Asset Trust, Series 2025-4A, Class B, 5.50%, 4/25/34<sup>(2)</sup> | 379194 | 382848 |
| Santander Bank Auto Credit-Linked Notes, Series 2023-B, Class B, 5.64%, 12/15/33<sup>(2)</sup> | 98849 | 100231 |
| Santander Mortgage Asset Receivable Trust, Series 2025-CES1, Class A1A, 5.04%, 9/25/55<sup>(2)</sup> | 666282 | 666536 |
| Scalelogix ABS U.S. Issuer LLC, Series 2025-1A, Class B, 6.16%, 7/25/55<sup>(2)</sup> | 248000 | 251093 |
| SEB Funding LLC, Series 2024-1A, Class A2, SEQ, 7.39%, 4/30/54<sup>(2)</sup> | 346000 | 354323 |
| Towd Point Mortgage Trust, Series 2024-CES3, Class A1, VRN, 6.29%, 5/25/64<sup>(2)</sup> | 174875 | 177067 |
| Uniti Fiber ABS Issuer LLC, Series 2025-1A, Class B, 6.37%, 4/20/55<sup>(2)</sup> | 206262 | 212402 |
| Vertical Bridge CC LLC, Series 2025-1A, Class C, 7.45%, 8/16/55<sup>(2)</sup> | 259741 | 265121 |
| Vista Point Securitization Trust, Series 2024-CES1, Class A1, 6.68%, 5/25/54<sup>(2)</sup> | 221811 | 224498 |
| Wireless PropCo Funding LLC, Series 2025-1A, Class A2, SEQ, 4.07%, 6/25/55<sup>(2)</sup> | 114735 | 111899 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $11,033,090) |  | **11130999** |
| **CONVERTIBLE PREFERRED SECURITIES — 6.8%** |  |  |
| **Banks — 6.2%** |  |  |
| Australia & New Zealand Banking Group Ltd., 6.75%<sup>(2)</sup> | 200000 | 202759 |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 600000 | 605434 |
| Banco Davivienda SA, 6.65%<sup>(2)</sup> | 211000 | 192512 |
| Banco Mercantil del Norte SA, 5.875%<sup>(2)</sup> | 420000 | 415032 |
| Banco Santander SA, 4.75% | 600000 | 593342 |
| Barclays PLC, 8.00% | 410000 | 435104 |
| BNP Paribas SA, 8.50%<sup>(2)</sup> | 865000 | 924057 |
| Danske Bank AS, 4.375% | 610000 | 609177 |
| HSBC Holdings PLC, 6.00% | 1050000 | 1058043 |
| ING Groep NV, 5.75% | 445000 | 447363 |
| ING Groep NV, 7.50% | 200000 | 208494 |
| Lloyds Banking Group PLC, 6.75% | 200000 | 202673 |
| Macquarie Bank Ltd., 6.125%<sup>(2)</sup> | 420000 | 428231 |
| Skandinaviska Enskilda Banken AB, 6.875% | 600000 | 616933 |
| Societe Generale SA, 9.375%<sup>(2)</sup> | 400000 | 427162 |

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| | | |
|:---|:---|:---|
| Standard Chartered PLC, 7.75%<sup>(2)</sup> | 200000 | 207669 |
| Svenska Handelsbanken AB, 4.375% | 400000 | 396106 |
|  |  | 7970091 |
| **Capital Markets — 0.6%** |  |  |
| UBS Group AG, 9.25%<sup>(2)</sup> | 715000 | 787060 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $8,671,587) |  | **8757151** |
| **PREFERRED SECURITIES — 3.2%** |  |  |
| **Banks — 1.2%** |  |  |
| Bank of America Corp., 4.375% | 735000 | 725471 |
| Citigroup, Inc., 3.875% | 370000 | 368823 |
| Citigroup, Inc., 4.00% | 116000 | 116351 |
| KeyCorp, 5.00% | 320000 | 319756 |
|  |  | 1530401 |
| **Capital Markets — 0.9%** |  |  |
| Charles Schwab Corp., 4.00% | 387000 | 384381 |
| Goldman Sachs Group, Inc., 3.80% | 330000 | 327558 |
| Goldman Sachs Group, Inc., 7.38% | 235000 | 237135 |
| Northern Trust Corp., 4.60% | 295000 | 293824 |
|  |  | 1242898 |
| **Electric Utilities — 0.2%** |  |  |
| NRG Energy, Inc., 10.25%<sup>(2)</sup> | 191000 | 208563 |
| **Oil, Gas and Consumable Fuels — 0.4%** |  |  |
| Energy Transfer LP, 6.50% | 280000 | 281910 |
| Sunoco LP, 7.875%<sup>(2)</sup> | 203000 | 206703 |
|  |  | 488613 |
| **Trading Companies and Distributors — 0.5%** |  |  |
| Air Lease Corp., 4.65% | 205000 | 203160 |
| Aircastle Ltd., 5.25%<sup>(2)</sup> | 509000 | 507070 |
|  |  | 710230 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $4,154,980) |  | **4180705** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.8%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(2)</sup> | 23000 | 19047 |
| Bank, Series 2019-BN17, Class D, 3.00%, 4/15/52<sup>(2)</sup> | 35000 | 29985 |
| Benchmark Mortgage Trust, Series 2018-B5, Class B, 4.57%, 7/15/51 | 104014 | 98514 |
| Benchmark Mortgage Trust, Series 2018-B5, Class D, VRN, 3.25%, 7/15/51<sup>(2)</sup> | 100000 | 79351 |
| Benchmark Mortgage Trust, Series 2019-B13, Class D, 2.50%, 8/15/57<sup>(2)</sup> | 23000 | 13710 |
| Benchmark Mortgage Trust, Series 2020-B16, Class D, 2.50%, 2/15/53<sup>(2)</sup> | 68000 | 51724 |
| BX Commercial Mortgage Trust, Series 2022-CSMO, Class A, VRN, 6.07%, (1-month SOFR plus 2.11%), 6/15/27<sup>(2)</sup> | 200000 | 200826 |
| BX Trust, Series 2021-ARIA, Class A, VRN, 4.97%, (1-month SOFR plus 1.01%), 10/15/36<sup>(2)</sup> | 200000 | 199922 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class A, VRN, 5.22%, (1-month SOFR plus 1.26%), 11/15/38<sup>(2)</sup> | 150000 | 149183 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class B, VRN, 5.57%, (1-month SOFR plus 1.61%), 11/15/38<sup>(2)</sup> | 200000 | 198623 |
| Life Mortgage Trust, Series 2021-BMR, Class D, VRN, 5.47%, (1-month SOFR plus 1.51%), 3/15/38<sup>(2)</sup> | 112000 | 111134 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(2)</sup> | 22000 | 18557 |
| Morgan Stanley Capital I Trust, Series 2018-L1, Class D, 3.00%, 10/15/51<sup>(2)</sup> | 39000 | 32826 |
| NCMF Trust, Series 2025-MFS, Class C, VRN, 6.24%, 6/10/33<sup>(2)</sup> | 425000 | 433587 |
| ONNI Commerical Mortgage Trust, Series 2024-APT, Class A, SEQ, VRN, 5.75%, 7/15/39<sup>(2)</sup> | 200000 | 203935 |
| SCG Mortgage Trust, Series 2024-MSP, Class B, VRN, 6.40%, (1-month SOFR plus 2.44%), 4/15/41<sup>(2)</sup> | 261000 | 261312 |
| SHR Trust, Series 2024-LXRY, Class B, VRN, 6.41%, (1-month SOFR plus 2.45%), 10/15/41<sup>(2)</sup> | 247000 | 247769 |
| SMRT Commercial Mortgage Trust, Series 2022-MINI, Class B, VRN, 5.31%, (1-month SOFR plus 1.35%), 1/15/39<sup>(2)</sup> | 225000 | 224129 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, VRN, 5.40%, (1-month SOFR plus 1.44%), 2/15/42<sup>(2)</sup> | 246000 | 244162 |
| THPT Mortgage Trust, Series 2023-THL, Class B, VRN, 7.92%, 12/10/34<sup>(2)</sup> | 300000 | 303187 |
| UBS Commercial Mortgage Trust, Series 2018-C14, Class B, VRN, 5.10%, 12/15/51 | 220000 | 214763 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.31%, 12/15/51<sup>(2)</sup> | 19000 | 17433 |

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| | | |
|:---|:---|:---|
| WB Commercial Mortgage Trust, Series 2024-HQ, Class A, SEQ, VRN, 6.13%, 3/15/40<sup>(2)</sup> | 209000 | 209379 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C41, Class D, VRN, 2.60%, 11/15/50<sup>(2)</sup> | 20000 | 17041 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $3,545,558) |  | **3580099** |
| **COLLATERALIZED LOAN OBLIGATIONS — 0.7%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.42%, (1-month SOFR plus 1.46%), 11/15/36<sup>(2)</sup> | 43761 | 43753 |
| BSPRT Issuer Ltd., Series 2023-FL10, Class A, VRN, 6.22%, (1-month SOFR plus 2.26%), 9/15/35<sup>(2)</sup> | 65622 | 65677 |
| BXMT Ltd., Series 2021-FL4, Class AS, VRN, 5.38%, (1-month SOFR plus 1.41%), 5/15/38<sup>(2)</sup> | 250000 | 248941 |
| CBAMR Ltd., Series 2019-11RA, Class C, VRN, 6.40%, (3-month SOFR plus 2.51%), 1/20/35<sup>(2)</sup> | 100000 | 100203 |
| Dryden 30 Senior Loan Fund, Series 2013-30A, Class CR, VRN, 5.81%, (3-month SOFR plus 1.96%), 11/15/28<sup>(2)</sup> | 69038 | 69241 |
| KKR CLO 10 Ltd., Series 10, Class BR, VRN, 6.00%, (3-month SOFR plus 1.96%), 9/15/29<sup>(2)</sup> | 27577 | 27589 |
| Sixth Street CLO VIII Ltd., Series 2017-8A, Class BR2, VRN, 5.68%, (3-month SOFR plus 1.80%), 10/20/34<sup>(2)</sup> | 325000 | 325650 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $857,011) |  | **881054** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 0.7%** |  |  |
| **Mexico — 0.7%** |  |  |
| Eagle Funding Luxco SARL, 5.50%, 8/17/30<sup>(2)</sup><br>(Cost $862,039) | 853000 | **867023** |
| **MUNICIPAL SECURITIES — 0.2%** |  |  |
| Florida Local Government Finance Commission Rev., (Ponte Vedra Pine Co. LLC Obligated Group), 6.75%, 11/15/30<sup>(2)</sup><br>(Cost $210,000) | 210000 | 211269 |
| **BANK LOAN OBLIGATIONS**<sup>(6)</sup> **— 0.1%** |  |  |
| **Passenger Airlines — 0.1%** |  |  |
| American Airlines, Inc., 2024 1st Lien Term Loan B, 6.00%, (6-month SOFR plus 2.25%), 2/15/28<br>(Cost $129,119) | 130950 | **130997** |
| **SHORT-TERM INVESTMENTS — 4.6%** |  |  |
| **Money Market Funds — 4.6%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 5295271 | 5295271 |
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(7)</sup> | 700250 | 700250 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $5,995,521) |  | **5995521** |
| **TOTAL INVESTMENT SECURITIES — 99.6%**<br>(Cost $128,091,217) |  | **128854090** |
| **OTHER ASSETS AND LIABILITIES — 0.4%** |  | **488732** |
| **TOTAL NET ASSETS — 100.0%** |  | $**129342822** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration <br>Date** | **Notional Amount** | **Unrealized <br>Appreciation <br>(Depreciation)^** |
| U.S. Treasury 2-Year Notes | 58 | March 2026 | $12113844 | $(3418) |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** |
| **Reference Entity** | **Contracts** | **Expiration <br>Date** | **Notional <br>Amount** | **Unrealized <br>Appreciation <br>(Depreciation)^** |
| U.S. Treasury 10-Year Notes | 27 | March 2026 | $3060281 | $(3616) |
| U.S. Treasury 10-Year Ultra Notes | 11 | March 2026 | 1278234 | (3803) |
|  |  |  | $4338515 | $(7419) |

---

^Amount represents value and unrealized appreciation (depreciation).

------

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| SEQ | – | Sequential Payer |
| SOFR | – | Secured Overnight Financing Rate |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $772,216. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.

(2)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $66,404,607, which represented 51.3% of total net assets.

(3)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(4)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(5)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on futures contracts. At the period end, the aggregate value of securities pledged was $360,686.

(6)The interest rate on a bank loan obligation adjusts periodically based on a predetermined schedule. Rate or range of rates shown is effective at period end. The maturity date on a bank loan obligation may be less than indicated as a result of contractual or optional prepayments. These prepayments cannot be predicted with certainty.

(7)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $802,284, which includes securities collateral of $102,034.

------

**SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS** 

**1. Investment Valuations**

The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds, U.S. Treasury and Government Agency securities, bank loan obligations, municipal securities and sovereign governments and agencies are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer. Collateralized loan obligations are valued based on discounted cash flow models that consider trade and economic data, prepayment assumptions and default projections.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.

Hybrid securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Preferred securities and convertible preferred securities with perpetual maturities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Open-end management investment companies are valued at the reported NAV per share. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers.

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause a fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

The valuation designee monitors for significant events occurring after the close of an investment's primary exchange but before the NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

**2. Fair Value Measurements**

The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

• Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

• Level 3 valuation inputs consist of unobservable data (including a fund's own assumptions).

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

------

The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | **Assets** | **Assets** | **Assets** |
| **Investment Securities** | **Investment Securities** | **Investment Securities** | **Investment Securities** |
| Corporate Bonds |  | $59568819 |  |
| Collateralized Mortgage Obligations |  | 19820099 |  |
| U.S. Treasury Securities |  | 13730354 |  |
| Asset-Backed Securities |  | 11130999 |  |
| Convertible Preferred Securities |  | 8757151 |  |
| Preferred Securities |  | 4180705 |  |
| Commercial Mortgage-Backed Securities |  | 3580099 |  |
| Collateralized Loan Obligations |  | 881054 |  |
| Sovereign Governments and Agencies |  | 867023 |  |
| Municipal Securities |  | 211269 |  |
| Bank Loan Obligations |  | 130997 |  |
| Short-Term Investments | $5995521 |  |  |
|  | $5995521 | $122858569 |  |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** |
| Futures Contracts | $10837 |  |  |

---

*This schedule of investments provides information about the fund's portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund's most recent annual or semiannual financial statements.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** American Century ETF Trust

- **b. Investment Company Act file number:** 811-23305

- **c. CIK number of Registrant:** 0001710607

- **d. LEI of Registrant:** 5493006IKK34YJD98183

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

  - **Street Address 1:** 4500 Main St

  - **City:** Kansas City

  - **State:** MO

  - **Foreign country:** US

  - **Zip / Postal Code:** 64111

  - **Telephone number:** 816-531-5575

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

- **a. Name of Series:** American Century Short Duration Strategic Income ETF

- **b. EDGAR series identifier (if any):** S000077487

- **c. LEI of Series:** 549300ORQDHWNQN1V176

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $130604000.68

**Total Liabilities:** $1260330.58

**Net Assets:** $129343670.10

**Cash Not Reported:** $544389.66

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 193.000000000000 | **1-Year:** 3258.000000000000 | **5-Year:** 8523.000000000000 | **10-Year:** 1205.000000000000 | **30-Year:** 7069.000000000000

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

- **3-Month:** 21.000000000000 | **1-Year:** 1316.000000000000 | **5-Year:** 3351.000000000000 | **10-Year:** 487.000000000000 | **30-Year:** 1469.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237948 | 0.46%                | 0.39%                | 0.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $227320.97               | $-251586.06                                |
| Month 2  | $33863.77                | $-71023.52                                 |
| Month 3  | $37060.10                | $160790.91                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                                                                                          | Title                                                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICAN AIRLINES INC                                                                                                         | American Airlines Inc 7.25 02/15/2028                                                     | CUSIP: 023771T32<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    330000 | PA      | $338080.40    | 0.26%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Braskem Netherlands Finance BV                                                                                                | Braskem Netherlands Finance BV 4.50 01/31/2030                                            | CUSIP: 10554TAD7<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    203000 | PA      | $72452.73     | 0.06%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| PRIO Luxembourg Holding Sarl                                                                                                  | PRIO Luxembourg Holding Sarl 6.75 10/15/2030                                              | CUSIP: 74259PAA5<br>LEI: 2221003VQP4JY7T31H94 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $196000.60    | 0.15%             | 2030-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Spirit AeroSystems Inc                                                                                                        | Spirit AeroSystems Inc 4.60 06/15/2028                                                    | CUSIP: 85205TAK6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    830000 | PA      | $834978.34    | 0.65%             | 2028-06-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: —       |
| Universal Health Services Inc                                                                                                 | Universal Health Services Inc 1.65 09/01/2026                                             | CUSIP: 913903AZ3<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171360.91    | 0.13%             | 2026-09-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: —       |
| State Street Navigator Securities Lending Trust - State Street Navigator Securities Lending Government Money Market Portfolio | State Street Navigator Securities Lending Government Money Market Portfolio               | CUSIP: N/A<br>LEI: 5493008BJIBKQ5KTIF74       | Long             | STIV             | RF                | US        |    701175 | NS      | $701175.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BSPRT 2017-FL1 Co-Issuer LLC                                                                                                  | BSPRT 2023-FL10 Issuer Ltd 6.22                                                           | CUSIP: 05610VAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     65622 | PA      | $65677.21     | 0.05%             | 2035-09-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                                                                            | Banco Bilbao Vizcaya Argentaria SA (pfd) 6.13% 02/16/2174 Perpetual                       | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EP               | CORP              | ES        |    600000 | NS      | $605434.20    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Davivienda SA                                                                                                           | Banco Davivienda SA (pfd) 6.65% 10/22/2174 Perpetual                                      | CUSIP: 059501AD8<br>LEI: 549300P161V4IPKAQS70 | Long             | EP               | CORP              | CO        |    211000 | NS      | $192511.50    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                                                                            | Banco Santander SA (pfd) 4.75% 08/12/2174 Perpetual                                       | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EP               | CORP              | ES        |    600000 | NS      | $593341.44    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Mercantil del Norte SA/Grand Cayman                                                                                     | Banco Mercantil del Norte SA/Grand Cayman (pfd) 5.88% 01/24/2174 Perpetual                | CUSIP: 05973KAA5<br>LEI: 549300QTVYRPFHS0J362 | Long             | EP               | CORP              | KY        |    420000 | NS      | $415032.41    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK 2018-BNK15                                                                                                               | BANK 2018-BNK15 3.00                                                                      | CUSIP: 06036FAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     23000 | PA      | $19046.47     | 0.01%             | 2061-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                                                                          | Bank of America Corp (pfd) 4.38% 04/27/2174 Perpetual                                     | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    735000 | NS      | $725470.65    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                                                                              | Bank of Montreal 7.70 05/26/2084                                                          | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $212915.20    | 0.16%             | 2084-05-26      | Variable      | 7.70%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                                                                                       | Bank of Nova Scotia/The 8.63 10/27/2082                                                   | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    370000 | PA      | $393158.67    | 0.30%             | 2082-10-27      | Variable      | 8.62%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                                                                                       | Bank of Nova Scotia/The 8.00 01/27/2084                                                   | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    665000 | PA      | $712690.48    | 0.55%             | 2084-01-27      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| BANK 2019-BNK17                                                                                                               | BANK 2019-BNK17 3.00                                                                      | CUSIP: 065403AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     35000 | PA      | $29985.31     | 0.02%             | 2052-04-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust 2025-4                                                                               | Research-Driven Pagaya Motor Asset Trust 2025-4 5.50                                      | CUSIP: 76089MAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    379194 | PA      | $382847.61    | 0.30%             | 2034-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                                                                  | Barclays PLC (pfd) 8.00% 12/15/2173 Perpetual                                             | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EP               | CORP              | GB        |    410000 | NS      | $435103.89    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Baxter International Inc                                                                                                      | Baxter International Inc 4.45 02/15/2029                                                  | CUSIP: 071813DC0<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    430000 | PA      | $431993.88    | 0.33%             | 2029-02-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Rocket Cos Inc                                                                                                                | Rocket Cos Inc 6.13 08/01/2030                                                            | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $535003.63    | 0.41%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Rocket Cos Inc                                                                                                                | Rocket Cos Inc 6.38 08/01/2033                                                            | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $68147.17     | 0.05%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                                                                                                   | Truist Bank 4.63 09/17/2029                                                               | CUSIP: 07330MAC1<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    530000 | PA      | $533738.27    | 0.41%             | 2029-09-17      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| Benchmark 2018-B5 Mortgage Trust                                                                                              | Benchmark 2018-B5 Mortgage Trust 4.57                                                     | CUSIP: 08160BAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    104014 | PA      | $98513.57     | 0.08%             | 2051-07-15      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Benchmark 2018-B5 Mortgage Trust                                                                                              | Benchmark 2018-B5 Mortgage Trust 3.25                                                     | CUSIP: 08160BAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $79351.13     | 0.06%             | 2051-07-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Benchmark 2020-B16 Mortgage Trust                                                                                             | Benchmark 2020-B16 Mortgage Trust 2.50                                                    | CUSIP: 08161NAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     68000 | PA      | $51724.44     | 0.04%             | 2053-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Benchmark 2019-B13 Mortgage Trust                                                                                             | Benchmark 2019-B13 Mortgage Trust 2.50                                                    | CUSIP: 08162DAR9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     23000 | PA      | $13710.12     | 0.01%             | 2057-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BHG Securitization Trust 2025-1CON                                                                                            | BHG Securitization Trust 2025-1CON 5.26                                                   | CUSIP: 08860AAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    237479 | PA      | $240209.04    | 0.19%             | 2036-04-17      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                                                                          | Royal Bank of Canada 4.00 11/03/2028                                                      | CUSIP: 78017DAN8<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    560000 | PA      | $559249.77    | 0.43%             | 2028-11-03      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SBA Communications Corp                                                                                                       | SBA Communications Corp 3.13 02/01/2029                                                   | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    625000 | PA      | $597933.63    | 0.46%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| SHR Trust 2024-LXRY                                                                                                           | SHR Trust 2024-LXRY 6.41                                                                  | CUSIP: 784234AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    247000 | PA      | $247769.01    | 0.19%             | 2041-10-15      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| SEB Funding LLC                                                                                                               | SEB Funding LLC 7.39                                                                      | CUSIP: 78433DAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    346000 | PA      | $354322.58    | 0.27%             | 2054-04-30      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| Boeing Co/The                                                                                                                 | Boeing Co/The 6.30 05/01/2029                                                             | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    889000 | PA      | $945714.64    | 0.73%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Brandywine Operating Partnership LP                                                                                           | Brandywine Operating Partnership LP 8.88 04/12/2029                                       | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |    465000 | PA      | $504018.15    | 0.39%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BRAVO Trust 2025-SR1                                                                                                          | BRAVO Trust 2025-SR1 3.00                                                                 | CUSIP: 10567UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    389238 | PA      | $375614.54    | 0.29%             | 2045-03-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Bravo Residential Funding Trust 2025-NQM9                                                                                     | Bravo Residential Funding Trust 2025-NQM9 5.55                                            | CUSIP: 10569WAE1<br>LEI: 254900XY2WSFF1Q6S467 | Long             | ABS-MBS          | CORP              | US        |    420959 | PA      | $422984.79    | 0.33%             | 2065-09-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust 2025-NQM4                                                                                     | BRAVO Residential Funding Trust 2025-NQM4 5.82                                            | CUSIP: 10570QAG6<br>LEI: 25490082TY9NA9XBGW19 | Long             | ABS-MBS          | CORP              | US        |    507993 | PA      | $511814.25    | 0.40%             | 2065-02-25      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust 2025-NQM7                                                                                     | BRAVO Residential Funding Trust 2025-NQM7 5.46                                            | CUSIP: 10570TAB1<br>LEI: 254900I1LYOO3G3UAT10 | Long             | ABS-MBS          | CORP              | US        |    284928 | PA      | $287392.31    | 0.22%             | 2065-07-25      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| SCG 2024-MSP Mortgage Trust                                                                                                   | SCG 2024-MSP Mortgage Trust 6.40                                                          | CUSIP: 78436EAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    261000 | PA      | $261312.36    | 0.20%             | 2041-04-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| SMRT 2022-MINI                                                                                                                | SMRT 2022-MINI 5.31                                                                       | CUSIP: 78457JAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225000 | PA      | $224128.53    | 0.17%             | 2039-01-15      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Bravo Residential Funding Trust 2025-Nqm3                                                                                     | Bravo Residential Funding Trust 2025-Nqm3 5.57                                            | CUSIP: 105927AC1<br>LEI: 254900KREJHICFBDC014 | Long             | ABS-MBS          | CORP              | US        |    193875 | PA      | $195392.03    | 0.15%             | 2065-03-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Builders FirstSource Inc                                                                                                      | Builders FirstSource Inc 4.25 02/01/2032                                                  | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    215000 | PA      | $204524.45    | 0.16%             | 2032-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust 2025-DATA                                                                                      | SWCH Commercial Mortgage Trust 2025-DATA 5.40                                             | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    246000 | PA      | $244161.81    | 0.19%             | 2042-02-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust 2025-Ces1                                                                           | Santander Mortgage Asset Receivable Trust 2025-Ces1 5.04                                  | CUSIP: 802650AB7<br>LEI: 254900WEZWXJLYHMU869 | Long             | ABS-MBS          | CORP              | US        |    666282 | PA      | $666535.96    | 0.52%             | 2055-09-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                                                                                              | Paramount Global 2.90 01/15/2027                                                          | CUSIP: 124857AR4<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1037569.41   | 0.80%             | 2027-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp                                                                                  | CCO Holdings LLC / CCO Holdings Capital Corp 5.13 05/01/2027                              | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    642000 | PA      | $641495.77    | 0.50%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CARS-DB5 LP                                                                                                                   | CARS-DB5 LP 1.92                                                                          | CUSIP: 12510HAM2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    246406 | PA      | $240135.88    | 0.19%             | 2051-08-15      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| CBAMR Ltd                                                                                                                     | CBAMR 2019-11R Ltd 6.40                                                                   | CUSIP: 12510TAD6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    100000 | PA      | $100203.27    | 0.08%             | 2035-01-20      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-BHAR                                                                                                                | CSMC 2021-BHAR 5.22                                                                       | CUSIP: 12659VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $149183.09    | 0.12%             | 2038-11-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-BHAR                                                                                                                | CSMC 2021-BHAR 5.57                                                                       | CUSIP: 12659VAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $198623.32    | 0.15%             | 2038-11-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Calpine Corp                                                                                                                  | Calpine Corp 5.00 02/01/2031                                                              | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    487000 | PA      | $488363.60    | 0.38%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Carnival Corp                                                                                                                 | Carnival Corp 5.13 05/01/2029                                                             | CUSIP: 143658CB6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    181000 | PA      | $182627.55    | 0.14%             | 2029-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                                                                      | Celanese US Holdings LLC 6.67 07/15/2027                                                  | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154497.30    | 0.12%             | 2027-07-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc                                                                                                            | Cenovus Energy Inc 4.65 03/20/2031                                                        | CUSIP: 15135UBA6<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |    634000 | PA      | $636063.46    | 0.49%             | 2031-03-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Spire Inc                                                                                                                     | Spire Inc 6.25 06/01/2056                                                                 | CUSIP: 84857LAD3<br>LEI: 549300NXSY15DRY2R511 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188614.47    | 0.15%             | 2056-06-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                                                                                                           | Sprint Capital Corp 6.88 11/15/2028                                                       | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |    535000 | PA      | $576331.05    | 0.45%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                                                                                        | Standard Chartered PLC (pfd) 7.75% 02/15/2174 Perpetual                                   | CUSIP: 853254CM0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EP               | CORP              | GB        |    200000 | NS      | $207669.00    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                                                                  | UBS Group AG (pfd) 9.25% 05/13/2174 Perpetual                                             | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EP               | CORP              | CH        |    715000 | NS      | $787059.85    | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust 2018-C14                                                                                        | UBS Commercial Mortgage Trust 2018-C14 5.10                                               | CUSIP: 90278KBE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $214762.72    | 0.17%             | 2051-12-15      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust 2018-C15                                                                                        | UBS Commercial Mortgage Trust 2018-C15 5.31                                               | CUSIP: 90278LAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19000 | PA      | $17432.94     | 0.01%             | 2051-12-15      | Variable      | 5.31%                 | No            |                  2 | On Loan: No      |
| UWM Holdings LLC                                                                                                              | UWM Holdings LLC 6.25 03/15/2031                                                          | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     71000 | PA      | $71360.41     | 0.06%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund                                                                    | State Street Institutional US Government Money Market Fund                                | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   5295271 | NS      | $5295271.24   | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes Series 2023-B                                                                         | Santander Bank Auto Credit-Linked Notes Series 2023-B 5.64                                | CUSIP: 80290CCB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98849 | PA      | $100230.76    | 0.08%             | 2033-12-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Scalelogix Abs Us Issuer LLC                                                                                                  | Scalelogix Abs Us Issuer LLC 6.16                                                         | CUSIP: 80587FAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    248000 | PA      | $251092.51    | 0.19%             | 2055-07-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                                                                                                       | Charles Schwab Corp/The (pfd) 4.00% 06/01/2174 Perpetual                                  | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |    387000 | NS      | $384381.21    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Sempra                                                                                                                        | Sempra 4.13 04/01/2052                                                                    | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    466000 | PA      | $454396.46    | 0.35%             | 2052-04-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-4                                                                                                 | Sequoia Mortgage Trust 2024-4 6.00                                                        | CUSIP: 81743BAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    178839 | PA      | $180568.71    | 0.14%             | 2054-05-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2025-8                                                                                                 | Sequoia Mortgage Trust 2025-8 5.50                                                        | CUSIP: 81743GAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330756 | PA      | $332266.81    | 0.26%             | 2055-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-8                                                                                                 | Sequoia Mortgage Trust 2024-8 5.50                                                        | CUSIP: 81749NAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    124113 | PA      | $124642.51    | 0.10%             | 2054-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-8                                                                                                 | Sequoia Mortgage Trust 2024-8 5.50                                                        | CUSIP: 81749NAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     78537 | PA      | $78528.64     | 0.06%             | 2054-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-9                                                                                                 | Sequoia Mortgage Trust 2024-9 5.50                                                        | CUSIP: 81749PAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     81177 | PA      | $81575.82     | 0.06%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-10                                                                                                | Sequoia Mortgage Trust 2024-10 5.50                                                       | CUSIP: 81749QAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     55329 | PA      | $55623.85     | 0.04%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-10                                                                                                | Sequoia Mortgage Trust 2024-10 5.50                                                       | CUSIP: 81749QAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140434 | PA      | $140586.45    | 0.11%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2025-7                                                                                                 | Sequoia Mortgage Trust 2025-7 5.50                                                        | CUSIP: 81749VAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325932 | PA      | $327472.39    | 0.25%             | 2055-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2025-8                                                                                                 | Sequoia Mortgage Trust 2025-8 5.50                                                        | CUSIP: 81749WAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    227322 | PA      | $228983.18    | 0.18%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                                                                                      | Service Properties Trust 0.00 09/30/2028                                                  | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    491000 | PA      | $439860.63    | 0.34%             | 2028-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Shell Finance US Inc                                                                                                          | Shell Finance US Inc 4.13 11/06/2030                                                      | CUSIP: 822905AN5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    277000 | PA      | $278505.89    | 0.22%             | 2030-11-06      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                                                                           | Sirius XM Radio LLC 4.00 07/15/2028                                                       | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    440000 | PA      | $429282.96    | 0.33%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO VIII Ltd                                                                                                     | SIXST 2017-8A BR2 0.00                                                                    | CUSIP: 83012VAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    325000 | PA      | $325649.71    | 0.25%             | 2034-10-20      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                                                                           | Societe Generale SA (pfd) 9.38% 05/22/2174 Perpetual                                      | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EP               | CORP              | FR        |    400000 | NS      | $427162.40    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Expand Energy Corp                                                                                                            | Expand Energy Corp 5.38 03/15/2030                                                        | CUSIP: 845467AS8<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    365000 | PA      | $370180.51    | 0.29%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Standard Industries Inc/NY                                                                                                    | Standard Industries Inc/NY 4.75 01/15/2028                                                | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    515000 | PA      | $514000.33    | 0.40%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Stellantis Financial Services US Corp                                                                                         | Stellantis Financial Services US Corp 4.95 09/15/2028                                     | CUSIP: 85855FAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    640000 | PA      | $645285.32    | 0.50%             | 2028-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CBOT 10 Year US Treasury Note                                                                                                 | US 10YR NOTE (CBT)Mar26                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |       -27 | NC      | $-3615.92     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOT 2 Year US Treasury Note                                                                                                  | US 2YR NOTE (CBT) Mar26                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |        49 | NC      | $-2556.42     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOT 10 Year Ultra US Treasury Note                                                                                           | US 10yr Ultra Fut Mar26                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |       -11 | NC      | $-3803.78     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2024-8                                                                                      | Chase Home Lending Mortgage Trust 2024-8 5.50                                             | CUSIP: 16159XAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     55364 | PA      | $55366.71     | 0.04%             | 2055-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2024-9                                                                                      | Chase Home Lending Mortgage Trust 2024-9 5.50                                             | CUSIP: 16160QAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105252 | PA      | $105466.23    | 0.08%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2024-9                                                                                      | Chase Home Lending Mortgage Trust 2024-9 5.50                                             | CUSIP: 16160QAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     33473 | PA      | $33451.52     | 0.03%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust Series 2025-9                                                                               | Chase Home Lending Mortgage Trust Series 2025-9 5.50                                      | CUSIP: 16160UAE5<br>LEI: 529900II236FJ8MBXS58 | Long             | ABS-MBS          | CORP              | US        |    367143 | PA      | $370536.94    | 0.29%             | 2056-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2025-8                                                                                      | Chase Home Lending Mortgage Trust 2025-8 6.00                                             | CUSIP: 16162UAD5<br>LEI: 529900CHSDEA1SX67419 | Long             | ABS-MBS          | CORP              | US        |    682010 | PA      | $692462.00    | 0.54%             | 2056-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2025-8                                                                                      | Chase Home Lending Mortgage Trust 2025-8 6.25                                             | CUSIP: 16162UAU7<br>LEI: 529900CHSDEA1SX67419 | Long             | ABS-MBS          | CORP              | US        |    270285 | PA      | $275451.34    | 0.21%             | 2056-06-25      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust Series 2024-2                                                                               | Chase Home Lending Mortgage Trust Series 2024-2 6.00                                      | CUSIP: 161929AJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    142194 | PA      | $143141.62    | 0.11%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust Series 2024-6                                                                               | Chase Home Lending Mortgage Trust Series 2024-6 6.00                                      | CUSIP: 161931AK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120978 | PA      | $122350.69    | 0.09%             | 2055-05-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2025-5                                                                                      | Chase Home Lending Mortgage Trust 2025-5 5.50                                             | CUSIP: 161935AE1<br>LEI: 529900V91KVGSU3Z1A61 | Long             | ABS-MBS          | CORP              | US        |    236182 | PA      | $238099.12    | 0.18%             | 2056-04-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Cherry Securitization Trust 2025-1                                                                                            | Cherry Securitization Trust 2025-1 6.53                                                   | CUSIP: 16473RAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    365000 | PA      | $371557.30    | 0.29%             | 2032-11-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust 2025-2                                                                                          | Citigroup Mortgage Loan Trust 2025-2 6.00                                                 | CUSIP: 17292BAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    340809 | PA      | $345955.67    | 0.27%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                                                                                 | Citigroup Inc (pfd) 4.00% 03/10/2174 Perpetual                                            | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |    116000 | NS      | $116351.48    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                                                                                 | Citigroup Inc (pfd) 3.88% 05/18/2174 Perpetual                                            | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |    370000 | NS      | $368823.40    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust 2024-1                                                                                          | Citigroup Mortgage Loan Trust 2024-1 6.00                                                 | CUSIP: 17332CBP0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98653 | PA      | $99905.72     | 0.08%             | 2054-07-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust 2024-CMI1                                                                                       | Citigroup Mortgage Loan Trust 2024-CMI1 5.50                                              | CUSIP: 17332DAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    139079 | PA      | $139158.30    | 0.11%             | 2054-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust 2024-CMI1                                                                                       | Citigroup Mortgage Loan Trust 2024-CMI1 5.50                                              | CUSIP: 17332DAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    194210 | PA      | $195115.68    | 0.15%             | 2054-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Coinbase Global Inc                                                                                                           | Coinbase Global Inc 3.38 10/01/2028                                                       | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    575000 | PA      | $544230.14    | 0.42%             | 2028-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                                                                               | Permian Resources Operating LLC 5.88 07/01/2029                                           | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    129000 | PA      | $129513.68    | 0.10%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans 2019-A LLC                                                                                          | College Ave Student Loans 2019-A LLC 4.46                                                 | CUSIP: 19421UAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    313511 | PA      | $308171.40    | 0.24%             | 2048-12-28      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| Comerica Inc                                                                                                                  | Comerica Inc 5.98 01/30/2030                                                              | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |    855000 | PA      | $891462.30    | 0.69%             | 2030-01-30      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| Concord Music Royalties LLC                                                                                                   | Concord Music Royalties LLC 5.64                                                          | CUSIP: 20633KAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    413000 | PA      | $416460.94    | 0.32%             | 2074-10-20      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                                                                                              | ABN AMRO Bank NV 3.32 03/13/2037                                                          | CUSIP: 00084DAV2<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $367169.76    | 0.28%             | 2037-03-13      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| Corebridge Global Funding                                                                                                     | Corebridge Global Funding 4.45 10/02/2030                                                 | CUSIP: 00138CBJ6<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |    456000 | PA      | $455443.20    | 0.35%             | 2030-10-02      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust 2023-2                                                                                                         | ACM Auto Trust 2023-2 9.85                                                                | CUSIP: 00161AAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    211873 | PA      | $214192.24    | 0.17%             | 2030-06-20      | Fixed         | 9.85%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust 2025-2                                                                                                         | ACM Auto Trust 2025-2 5.55                                                                | CUSIP: 00161TAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    415949 | PA      | $416076.06    | 0.32%             | 2028-06-20      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Concord Music Royalties LLC                                                                                                   | Concord Music Royalties LLC 5.51                                                          | CUSIP: 20633KAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    251000 | PA      | $252633.81    | 0.20%             | 2075-07-20      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2024-R01                                                                                  | Connecticut Avenue Securities Trust 2024-R01 5.12                                         | CUSIP: 20753UAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70811 | PA      | $70771.15     | 0.05%             | 2044-01-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                                                                      | AT&T Inc 7.30 08/15/2026                                                                  | CUSIP: 00206RGJ5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45782.24     | 0.04%             | 2026-08-15      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc/AAdvantage Loyalty IP Ltd                                                                               | American Airlines Inc/AAdvantage Loyalty IP Ltd 5.50 04/20/2026                           | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        32 | PA      | $32.02        | 0.00%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2024-8                                                                                        | JP Morgan Mortgage Trust Series 2024-8 5.50                                               | CUSIP: 46658GAK8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     58476 | PA      | $58498.20     | 0.05%             | 2055-01-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2024-10                                                                                            | J.P. Morgan Mortgage Trust 2024-10 5.50                                                   | CUSIP: 46658LAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    133108 | PA      | $133416.61    | 0.10%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2024-INV1                                                                                            | JP Morgan Mortgage Trust 2024-INV1 6.00                                                   | CUSIP: 46658PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120490 | PA      | $122505.44    | 0.09%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2024-5                                                                                        | JP Morgan Mortgage Trust Series 2024-5 6.00                                               | CUSIP: 46658RAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     57293 | PA      | $57514.47     | 0.04%             | 2054-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Acadia Healthcare Co Inc                                                                                                      | Acadia Healthcare Co Inc 5.00 04/15/2029                                                  | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    270000 | PA      | $262548.95    | 0.20%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts Inc                                                                                                        | Advance Auto Parts Inc 7.00 08/01/2030                                                    | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     97000 | PA      | $99079.74     | 0.08%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp                                                                                                                | Air Lease Corp (pfd) 4.65% 06/15/2174 Perpetual                                           | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EP               | CORP              | US        |    205000 | NS      | $203159.74    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Aircastle Ltd                                                                                                                 | Aircastle Ltd (pfd) 5.25% 09/15/2174 Perpetual                                            | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | EP               | CORP              | US        |    509000 | NS      | $507069.77    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Aircastle Ltd                                                                                                                 | Aircastle Ltd 6.50 07/18/2028                                                             | CUSIP: 00928QAX9<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | US        |    180000 | PA      | $189151.54    | 0.15%             | 2028-07-18      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Aircastle Ltd                                                                                                                 | Aircastle Ltd 5.95 02/15/2029                                                             | CUSIP: 00928QAY7<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | US        |    510000 | PA      | $532678.06    | 0.41%             | 2029-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2024-11                                                                                              | JP Morgan Mortgage Trust 2024-11 6.00                                                     | CUSIP: 46659AAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    203719 | PA      | $206017.52    | 0.16%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2025-CCM2                                                                                     | JP Morgan Mortgage Trust Series 2025-CCM2 6.00                                            | CUSIP: 46659EAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    376472 | PA      | $382845.49    | 0.30%             | 2055-09-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Ovintiv Inc                                                                                                                   | Ovintiv Inc 7.38 11/01/2031                                                               | CUSIP: 012873AK1<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    127000 | PA      | $142123.01    | 0.11%             | 2031-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Centersquare Issuer LLC                                                                                                       | Centersquare Issuer LLC 5.00                                                              | CUSIP: 15201EAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    360266 | PA      | $349798.11    | 0.27%             | 2055-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust Series 2024-3                                                                               | Chase Home Lending Mortgage Trust Series 2024-3 6.00                                      | CUSIP: 16159HAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    130226 | PA      | $131788.26    | 0.10%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Tr                                                                                                | Chase Home Lending Mortgage Trust Series 2024-7 6.00                                      | CUSIP: 16159TAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260992 | PA      | $263613.49    | 0.20%             | 2055-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2025-NQM3                                                                                     | JP Morgan Mortgage Trust Series 2025-NQM3 5.50                                            | CUSIP: 46659QAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    560169 | PA      | $563796.03    | 0.44%             | 2065-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Jersey Central Power & Light Co                                                                                               | Jersey Central Power & Light Co 4.15 01/15/2029                                           | CUSIP: 476556DJ1<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |    677000 | PA      | $677594.97    | 0.52%             | 2029-01-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust Series 2025-2                                                                               | Chase Home Lending Mortgage Trust Series 2025-2 6.00                                      | CUSIP: 16159VAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270686 | PA      | $274408.33    | 0.21%             | 2055-12-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                                                            | Energy Transfer LP 5.63 05/01/2027                                                        | CUSIP: 226373AQ1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1150049.08   | 0.89%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| KBC Group NV                                                                                                                  | KBC Group NV 4.45 09/23/2031                                                              | CUSIP: 48241FAE4<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |    222000 | PA      | $221928.98    | 0.17%             | 2031-09-23      | Variable      | 4.45%                 | No            |                  2 | On Loan: No      |
| KKR CLO Trust                                                                                                                 | KKR CLO 10 Ltd 6.00                                                                       | CUSIP: 48250GAS9<br>LEI: 549300N7FISC1W1QKR21 | Long             | ABS-CBDO         | CORP              | US        |     27576 | PA      | $27588.53     | 0.02%             | 2029-09-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| KeyCorp                                                                                                                       | KeyCorp (pfd) 5.00% 12/15/2173 Perpetual                                                  | CUSIP: 493267AK4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |    320000 | NS      | $319755.81    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                                                                                              | Kilroy Realty LP 4.25 08/15/2029                                                          | CUSIP: 49427RAK8<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    450000 | PA      | $442193.41    | 0.34%             | 2029-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                                                                                              | Kilroy Realty LP 3.05 02/15/2030                                                          | CUSIP: 49427RAP7<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    215000 | PA      | $199454.33    | 0.15%             | 2030-02-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Lmrk Issuer Co 2 LLC                                                                                                          | Lmrk Issuer Co 2 LLC 5.52                                                                 | CUSIP: 50209AAH4<br>LEI: 549300TATF7H68SRLE80 | Long             | ABS-MBS          | CORP              | US        |    288000 | PA      | $292204.83    | 0.23%             | 2055-09-15      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                            | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 7.00 07/15/2031        | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    234000 | PA      | $248246.15    | 0.19%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Latam Airlines Group SA                                                                                                       | Latam Airlines Group SA 7.88 04/15/2030                                                   | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    844000 | PA      | $885415.08    | 0.68%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Group Inc                                                                                                      | Liberty Mutual Group Inc 4.13 12/15/2051                                                  | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    296000 | PA      | $290334.51    | 0.22%             | 2051-12-15      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Life 2021-BMR Mortgage Trust                                                                                                  | Life 2021-BMR Mortgage Trust 5.47                                                         | CUSIP: 53218CAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    112000 | PA      | $111134.44    | 0.09%             | 2038-03-15      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Cross 2024-H3 Mortgage Trust                                                                                                  | Cross 2024-H3 Mortgage Trust 6.58                                                         | CUSIP: 22758DAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    174161 | PA      | $176195.87    | 0.14%             | 2069-06-25      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                                                                             | HSBC Holdings PLC (pfd) 6.00% 11/22/2174 Perpetual                                        | CUSIP: 404280BL2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EP               | CORP              | GB        |   1050000 | NS      | $1058043.00   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| HPS Corporate Lending Fund                                                                                                    | HPS Corporate Lending Fund 4.90 09/11/2028                                                | CUSIP: 40440VAQ8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    155000 | PA      | $153923.03    | 0.12%             | 2028-09-11      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Hawaiian Electric Co Inc                                                                                                      | Hawaiian Electric Co Inc 6.00 10/01/2033                                                  | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |    252000 | PA      | $255316.57    | 0.20%             | 2033-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Herc Holdings Inc                                                                                                             | Herc Holdings Inc 5.50 07/15/2027                                                         | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    347000 | PA      | $347204.24    | 0.27%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Herc Holdings Inc                                                                                                             | Herc Holdings Inc 7.00 06/15/2030                                                         | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    485000 | PA      | $509508.02    | 0.39%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                                                                                      | Lloyds Banking Group PLC (pfd) 6.75% 09/27/2174 Perpetual                                 | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EP               | CORP              | GB        |    200000 | NS      | $202672.60    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| MFA 2024-NQM1 Trust                                                                                                           | MFA 2024-NQM1 Trust 6.83                                                                  | CUSIP: 55286VAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     76079 | PA      | $77086.01     | 0.06%             | 2069-03-25      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust 2024-2                                                                                           | Hilton Grand Vacations Trust 2024-2 6.91                                                  | CUSIP: 43283JAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56665 | PA      | $58397.66     | 0.05%             | 2038-03-25      | Fixed         | 6.91%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust 2019-A                                                                                           | Hilton Grand Vacations Trust 2019-A 2.34                                                  | CUSIP: 43284HAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    226938 | PA      | $225884.49    | 0.17%             | 2033-07-25      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                                                                                  | ING Groep NV (pfd) 5.75% 11/16/2174 Perpetual                                             | CUSIP: 456837AR4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EP               | CORP              | NL        |    445000 | NS      | $447363.40    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                                                                           | Intesa Sanpaolo SpA 4.20 06/01/2032                                                       | CUSIP: 46115HBQ9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    434000 | PA      | $414034.74    | 0.32%             | 2032-06-01      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corp                                                                               | MPT Operating Partnership LP / MPT Finance Corp 8.50 02/15/2032                           | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    103000 | PA      | $108946.60    | 0.08%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MVW 2020-1 LLC                                                                                                                | MVW 2020-1 LLC 4.21                                                                       | CUSIP: 55400EAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     40761 | PA      | $40463.83     | 0.03%             | 2037-10-20      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| IQVIA Inc                                                                                                                     | IQVIA Inc 5.00 05/15/2027                                                                 | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    375000 | PA      | $375236.70    | 0.29%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2025-NQM2                                                                                     | JP Morgan Mortgage Trust Series 2025-NQM2 5.57                                            | CUSIP: 46590SAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    234231 | PA      | $235891.57    | 0.18%             | 2065-09-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd/London                                                                                                     | Macquarie Bank Ltd/London (pfd) 6.13% 09/08/2174 Perpetual                                | CUSIP: 556079AB7<br>LEI: 549300MPRNPO6FWNKN78 | Long             | EP               | CORP              | GB        |    420000 | NS      | $428231.16    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Magallanes Inc                                                                                                                | Warnermedia Holdings Inc 3.76 03/15/2027                                                  | CUSIP: 55903VBA0<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    610000 | PA      | $595207.50    | 0.46%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MARB BondCo PLC                                                                                                               | MARB BondCo PLC 3.95 01/29/2031                                                           | CUSIP: 566007AC4<br>LEI: 254900PVA1EU6QM1JN57 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $180763.20    | 0.14%             | 2031-01-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP/Medline Co-Issuer Inc                                                                                     | Medline Borrower LP/Medline Co-Issuer Inc 6.25 04/01/2029                                 | CUSIP: 58506DAA6<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    658000 | PA      | $681405.06    | 0.53%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2024-9                                                                                               | JP Morgan Mortgage Trust 2024-9 5.50                                                      | CUSIP: 46593DAK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     59636 | PA      | $59682.95     | 0.05%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                                                                      | JP Morgan Mortgage Trust 6.16                                                             | CUSIP: 46593VAH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    245124 | PA      | $247751.08    | 0.19%             | 2055-11-25      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| Mission Lane Credit Card Master Trust                                                                                         | Mission Lane Credit Card Master Trust 5.41                                                | CUSIP: 60510MBW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    246000 | PA      | $246954.11    | 0.19%             | 2031-09-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust 2018-L1                                                                                        | Morgan Stanley Capital I Trust 2018-L1 3.00                                               | CUSIP: 61691QAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     39000 | PA      | $32825.83     | 0.03%             | 2051-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                                                                | Morgan Stanley 4.13 10/18/2029                                                            | CUSIP: 61748UAK8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    495000 | PA      | $495047.51    | 0.38%             | 2029-10-18      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust 2018-H3                                                                                        | Morgan Stanley Capital I Trust 2018-H3 3.00                                               | CUSIP: 61767YAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     22000 | PA      | $18556.71     | 0.01%             | 2051-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2025-7MPR                                                                                     | JP Morgan Mortgage Trust Series 2025-7MPR 5.32                                            | CUSIP: 46594CAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    571302 | PA      | $573111.45    | 0.44%             | 2056-02-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2025-CES5                                                                                     | JP Morgan Mortgage Trust Series 2025-CES5 5.14                                            | CUSIP: 46594DAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    513162 | PA      | $516578.89    | 0.40%             | 2056-02-25      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Private Bank NA                                                                                                | Morgan Stanley Private Bank NA 4.73 07/18/2031                                            | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    710000 | PA      | $722388.67    | 0.56%             | 2031-07-18      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Private Bank NA                                                                                                | Morgan Stanley Private Bank NA 4.47 11/19/2031                                            | CUSIP: 61776NZW6<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    642000 | PA      | $645653.82    | 0.50%             | 2031-11-19      | Variable      | 4.46%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2025-CES5                                                                                     | JP Morgan Mortgage Trust Series 2025-CES5 5.24                                            | CUSIP: 46594DAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    529778 | PA      | $533300.21    | 0.41%             | 2056-02-25      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2023-6                                                                                             | J.P. Morgan Mortgage Trust 2023-6 6.00                                                    | CUSIP: 465989AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    162581 | PA      | $164763.81    | 0.13%             | 2053-12-26      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2023-8                                                                                             | J.P. Morgan Mortgage Trust 2023-8 6.00                                                    | CUSIP: 46657CAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    272676 | PA      | $275876.56    | 0.21%             | 2054-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2024-1                                                                                             | J.P. Morgan Mortgage Trust 2024-1 6.00                                                    | CUSIP: 46657PAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    156608 | PA      | $157496.63    | 0.12%             | 2054-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2024-6                                                                                        | JP Morgan Mortgage Trust Series 2024-6 6.00                                               | CUSIP: 46657YAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     32140 | PA      | $32174.75     | 0.02%             | 2054-12-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2024-8                                                                                        | JP Morgan Mortgage Trust Series 2024-8 5.50                                               | CUSIP: 46658GAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    121577 | PA      | $122440.95    | 0.09%             | 2055-01-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust 2024-3                                                                         | Morgan Stanley Residential Mortgage Loan Trust 2024-3 6.00                                | CUSIP: 61776QAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     67268 | PA      | $67660.20     | 0.05%             | 2054-07-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust 2025-NQM1                                                                      | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM1 6.14                             | CUSIP: 617932AE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    318828 | PA      | $322441.02    | 0.25%             | 2069-11-25      | Variable      | 6.14%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loan Trust 2023-2                                                                                                | Mosaic Solar Loan Trust 2023-2 5.36                                                       | CUSIP: 61945WAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    142104 | PA      | $137773.64    | 0.11%             | 2053-09-22      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loan Trust 2021-3                                                                                                | Mosaic Solar Loan Trust 2021-3 1.92                                                       | CUSIP: 61946TAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    414769 | PA      | $322237.08    | 0.25%             | 2052-06-20      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| Louisiana-Pacific Corp                                                                                                        | Louisiana-Pacific Corp 3.63 03/15/2029                                                    | CUSIP: 546347AM7<br>LEI: 549300C7E2UAO5BVRR75 | Long             | DBT              | CORP              | US        |    321000 | PA      | $308724.99    | 0.24%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Lyra Music Assets Delaware LP                                                                                                 | Lyra Music Assets Delaware LP 5.76                                                        | CUSIP: 552339AA1<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-MBS          | CORP              | US        |    261625 | PA      | $265978.20    | 0.21%             | 2064-12-22      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| Lyra Music Assets Delaware LP                                                                                                 | Lyra Music Assets Delaware LP 5.60                                                        | CUSIP: 552339AD5<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-MBS          | CORP              | US        |    155000 | PA      | $157148.30    | 0.12%             | 2065-09-20      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| MFA 2023-NQM3 Trust                                                                                                           | MFA 2023-NQM3 Trust 6.62                                                                  | CUSIP: 55286MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    134043 | PA      | $135141.53    | 0.10%             | 2068-07-25      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| NCMF Trust 2025-MFS                                                                                                           | NCMF Trust 2025-MFS 6.24                                                                  | CUSIP: 62887TAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $433586.96    | 0.34%             | 2033-06-10      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| NMI Holdings Inc                                                                                                              | NMI Holdings Inc 6.00 08/15/2029                                                          | CUSIP: 629209AC1<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    455000 | PA      | $471416.40    | 0.36%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                                                                                                | NRG Energy Inc (pfd) 10.25% 09/15/2174 Perpetual                                          | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EP               | CORP              | US        |    191000 | NS      | $208563.02    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Nationwide Building Society                                                                                                   | Nationwide Building Society 4.13 10/18/2032                                               | CUSIP: 63859WAF6<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $495910.36    | 0.38%             | 2032-10-18      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                                                                                                   | Nationwide Building Society 4.35 09/30/2030                                               | CUSIP: 63861VAP2<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    215000 | PA      | $215222.28    | 0.17%             | 2030-09-30      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| New Economy Assets - Phase 1 Sponsor LLC                                                                                      | New Economy Assets - Phase 1 Sponsor LLC 2.41                                             | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $137957.74    | 0.11%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| PRKCM 2025-AFC1 Trust                                                                                                         | PRKCM 2025-AFC1 Trust 5.10                                                                | CUSIP: 69392YAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    571619 | PA      | $571355.28    | 0.44%             | 2060-10-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| PRKCM 2025-AFC1 Trust                                                                                                         | PRKCM 2025-AFC1 Trust 5.10                                                                | CUSIP: 69392YAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    519730 | PA      | $520506.14    | 0.40%             | 2060-10-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Nexstar Media Inc                                                                                                             | Nexstar Media Inc 4.75 11/01/2028                                                         | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    650000 | PA      | $645101.15    | 0.50%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                                                                                | Nissan Motor Acceptance Co LLC 6.95 09/15/2026                                            | CUSIP: 65480CAE5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    425000 | PA      | $430120.71    | 0.33%             | 2026-09-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Ovintiv Inc                                                                                                                   | Ovintiv Inc 7.20 11/01/2031                                                               | CUSIP: 698900AG2<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    158000 | PA      | $175724.23    | 0.14%             | 2031-11-01      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                                                           | Petroleos Mexicanos 5.95 01/28/2031                                                       | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    932000 | PA      | $900423.75    | 0.70%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| North Haven Private Income Fund LLC                                                                                           | North Haven Private Income Fund LLC 5.13 09/25/2028                                       | CUSIP: 65960NAC4<br>LEI: 2549002BFPESF1EH2765 | Long             | DBT              | CORP              | US        |     77000 | PA      | $76765.05     | 0.06%             | 2028-09-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp                                                                                                           | Northern Trust Corp (pfd) 4.60% 04/01/2174 Perpetual                                      | CUSIP: 665859AQ7<br>LEI: 549300GLF98S992BC502 | Long             | EP               | CORP              | US        |    295000 | NS      | $293823.92    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Piedmont Operating Partnership LP                                                                                             | Piedmont Operating Partnership LP 6.88 07/15/2029                                         | CUSIP: 720198AJ9<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              | CORP              | US        |    220000 | PA      | $233894.36    | 0.18%             | 2029-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PowerPay Issuance Trust 2025-1                                                                                                | PowerPay Issuance Trust 2025-1 5.23                                                       | CUSIP: 73940MAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    304329 | PA      | $305605.82    | 0.24%             | 2041-11-18      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp                                                                                                           | Northern Trust Corp 3.38 05/08/2032                                                       | CUSIP: 665859AS3<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |   1513000 | PA      | $1489784.65   | 1.15%             | 2032-05-08      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| OnDeck Asset Securitization Trust IV LLC                                                                                      | OnDeck Asset Securitization Trust IV LLC 5.42                                             | CUSIP: 67108SAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    143000 | PA      | $143485.50    | 0.11%             | 2031-10-17      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| OBX 2022-NQM9 Trust                                                                                                           | OBX 2022-NQM9 Trust 6.45                                                                  | CUSIP: 67118LAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145385 | PA      | $144992.63    | 0.11%             | 2062-09-25      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM11 Trust                                                                                                          | OBX 2024-NQM11 Trust 6.23                                                                 | CUSIP: 67119EAC0<br>LEI: 254900F5LT8CA1U6PK21 | Long             | ABS-MBS          | CORP              | US        |    169979 | PA      | $171881.13    | 0.13%             | 2064-06-25      | Variable      | 6.23%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust 2025-3                                                                                       | Provident Funding Mortgage Trust 2025-3 5.50                                              | CUSIP: 74388PAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    281117 | PA      | $283099.18    | 0.22%             | 2055-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust 2024-1                                                                                       | Provident Funding Mortgage Trust 2024-1 5.50                                              | CUSIP: 74389BAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    211415 | PA      | $212829.29    | 0.16%             | 2054-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| RCKT Trust 2025-PL1                                                                                                           | RCKT Trust 2025-PL1 5.42                                                                  | CUSIP: 74939RAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    138000 | PA      | $138838.79    | 0.11%             | 2034-07-25      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust 2024-CES1                                                                                                 | RCKT Mortgage Trust 2024-CES1 6.03                                                        | CUSIP: 749424AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    157750 | PA      | $159149.23    | 0.12%             | 2044-02-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM7 Trust                                                                                                           | OBX 2024-NQM7 Trust 6.24                                                                  | CUSIP: 67119FAA1<br>LEI: 254900FVMB3WTXJGGR91 | Long             | ABS-MBS          | CORP              | US        |    245926 | PA      | $248720.27    | 0.19%             | 2064-03-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| OBX 2024-J1 Trust                                                                                                             | OBX 2024-J1 Trust 5.50                                                                    | CUSIP: 67119QAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     58501 | PA      | $58724.51     | 0.05%             | 2054-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust 2024-CES3                                                                                                 | RCKT Mortgage Trust 2024-CES3 6.59                                                        | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     63515 | PA      | $64488.30     | 0.05%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Radian Mortgage Capital Trust 2025-J2                                                                                         | Radian Mortgage Capital Trust 2025-J2 5.50                                                | CUSIP: 75023XAX0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    312747 | PA      | $317102.82    | 0.25%             | 2055-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| RATE Mortgage Trust 2024-J3                                                                                                   | RATE Mortgage Trust 2024-J3 5.50                                                          | CUSIP: 75409UAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    194952 | PA      | $195266.57    | 0.15%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| RATE Mortgage Trust 2025-J2                                                                                                   | RATE Mortgage Trust 2025-J2 5.50                                                          | CUSIP: 75409YAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    372066 | PA      | $374001.16    | 0.29%             | 2055-07-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Rate Mortgage Trust 2024-J1                                                                                                   | Rate Mortgage Trust 2024-J1 6.00                                                          | CUSIP: 75410PAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     82971 | PA      | $83289.95     | 0.06%             | 2054-07-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp                                                                                                            | Regal Rexnord Corp 6.05 02/15/2026                                                        | CUSIP: 758750AL7<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    325000 | PA      | $325765.50    | 0.25%             | 2026-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| OBX 2025-NQM13 Trust                                                                                                          | OBX 2025-NQM13 Trust 5.44                                                                 | CUSIP: 67121UAM8<br>LEI: 254900FPAGVH6E25VL74 | Long             | ABS-MBS          | CORP              | US        |    533926 | PA      | $536941.85    | 0.42%             | 2065-05-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| OBX 2025-J1 Trust                                                                                                             | OBX 2025-J1 Trust 6.00                                                                    | CUSIP: 673923AD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    289261 | PA      | $294190.87    | 0.23%             | 2055-05-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Repsol E&P Capital Markets US LLC                                                                                             | Repsol E&P Capital Markets US LLC 5.20 09/16/2030                                         | CUSIP: 76026AAB3<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |    402000 | PA      | $405831.79    | 0.31%             | 2030-09-16      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                                                                     | Sunoco LP (pfd) 7.88% 03/18/2174 Perpetual                                                | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | EP               | CORP              | US        |    203000 | NS      | $206702.72    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| OBX 2025-NQM11 Trust                                                                                                          | OBX 2025-NQM11 Trust 5.42                                                                 | CUSIP: 67449BAN3<br>LEI: 254900KNWDG7C03UTA13 | Long             | ABS-MBS          | CORP              | US        |    489388 | PA      | $492033.02    | 0.38%             | 2065-05-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| OBX 2025-J3 Trust                                                                                                             | OBX 2025-J3 Trust 5.00                                                                    | CUSIP: 67449KAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    307899 | PA      | $307578.01    | 0.24%             | 2055-10-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ONNI Commerical Mortgage Trust 2024-APT                                                                                       | ONNI Commerical Mortgage Trust 2024-APT 5.75                                              | CUSIP: 682939AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $203934.88    | 0.16%             | 2039-07-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                                                                                   | Oracle Corp 4.45 09/26/2030                                                               | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    589000 | PA      | $580615.77    | 0.45%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                                                                     | Sunoco LP 5.88 03/15/2034                                                                 | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    174000 | PA      | $175239.23    | 0.14%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| THPT 2023-THL Mortgage Trust                                                                                                  | THPT 2023-THL Mortgage Trust 7.92                                                         | CUSIP: 87252LAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $303186.81    | 0.23%             | 2034-12-10      | Variable      | 7.92%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp                                                                                                          | Targa Resources Corp 4.35 01/15/2029                                                      | CUSIP: 87612GAR2<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    443000 | PA      | $444563.09    | 0.34%             | 2029-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Taylor Morrison Communities Inc                                                                                               | Taylor Morrison Communities Inc 5.75 01/15/2028                                           | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    544000 | PA      | $556118.69    | 0.43%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Blue Owl Credit Income Corp                                                                                                   | Blue Owl Credit Income Corp 7.75 01/15/2029                                               | CUSIP: 69120VAW1<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    310000 | PA      | $328037.07    | 0.25%             | 2029-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Blue Owl Capital Corp                                                                                                         | Blue Owl Capital Corp 3.40 07/15/2026                                                     | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    510000 | PA      | $506051.94    | 0.39%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Blue Owl Capital Corp                                                                                                         | Blue Owl Capital Corp 5.95 03/15/2029                                                     | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    525000 | PA      | $531777.31    | 0.41%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PK Alift Loan Funding 3 LP                                                                                                    | PK Alift Loan Funding 3 LP 5.84                                                           | CUSIP: 69291VAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150782 | PA      | $154688.99    | 0.12%             | 2039-09-15      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| PRKCM 2024-HOME1 Trust                                                                                                        | PRKCM 2024-HOME1 Trust 6.43                                                               | CUSIP: 69391XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    211730 | PA      | $214806.10    | 0.17%             | 2059-05-25      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust 2025-J2                                                                                                        | PMT Loan Trust 2025-J2 5.50                                                               | CUSIP: 69392TAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    437418 | PA      | $441284.85    | 0.34%             | 2056-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| TopBuild Corp                                                                                                                 | TopBuild Corp 3.63 03/15/2029                                                             | CUSIP: 89055FAB9<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    288000 | PA      | $278105.99    | 0.22%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank/The                                                                                                     | Toronto-Dominion Bank/The 4.11 10/13/2028                                                 | CUSIP: 89115KAE0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    415000 | PA      | $416050.71    | 0.32%             | 2028-10-13      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank/The                                                                                                     | Toronto-Dominion Bank/The 8.13 10/31/2082                                                 | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $421721.20    | 0.33%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust 2024-CES3                                                                                           | Towd Point Mortgage Trust 2024-CES3 6.29                                                  | CUSIP: 89183EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    174875 | PA      | $177067.03    | 0.14%             | 2064-05-25      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                                                                                 | TransDigm Inc 4.88 05/01/2029                                                             | CUSIP: 893647BQ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    350000 | PA      | $348120.19    | 0.27%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Triangle Re 2023-1 Ltd                                                                                                        | Triangle Re 2023-1 Ltd 7.47                                                               | CUSIP: 89589AAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     33574 | PA      | $33872.00     | 0.03%             | 2033-11-25      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust 2025-J3                                                                                                        | PMT Loan Trust 2025-J3 5.50                                                               | CUSIP: 69392XAH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    309853 | PA      | $311888.21    | 0.24%             | 2056-11-27      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Wireless PropCo Funding LLC                                                                                                   | Wireless PropCo Funding LLC 4.07                                                          | CUSIP: 97655EAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    114735 | PA      | $111899.18    | 0.09%             | 2055-06-25      | Fixed         | 4.07%                 | No            |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                                                                     | XPLR Infrastructure Operating Partners LP 7.75 04/15/2034                                 | CUSIP: 98379YAA0<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    126000 | PA      | $128184.46    | 0.10%             | 2034-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Zions Bancorp NA                                                                                                              | Zions Bancorp NA 3.25 10/29/2029                                                          | CUSIP: 98971DAB6<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |    700000 | PA      | $654166.94    | 0.51%             | 2029-10-29      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                                                                                                   | Truist Bank 4.14 10/23/2029                                                               | CUSIP: 89788JAH2<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    619000 | PA      | $619042.35    | 0.48%             | 2029-10-23      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Trust Fibra Uno                                                                                                               | Trust Fibra Uno 4.87 01/15/2030                                                           | CUSIP: 898339AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    400000 | PA      | $386985.92    | 0.30%             | 2030-01-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Zions Bancorp NA                                                                                                              | Zions Bancorp NA 4.70 08/18/2028                                                          | CUSIP: 98971DAD2<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |    672000 | PA      | $671533.83    | 0.52%             | 2028-08-18      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                                                                                      | Svenska Handelsbanken AB (pfd) 4.38% 03/01/2174 Perpetual                                 | CUSIP: W9T10ZZR9<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | EP               | CORP              | SE        |    400000 | NS      | $396105.43    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| United Airlines Inc                                                                                                           | United Airlines Inc 4.63 04/15/2029                                                       | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    425000 | PA      | $423138.81    | 0.33%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 4.63 06/15/2027                                          | CUSIP: 91282CKV2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    525000 | PA      | $533408.20    | 0.41%             | 2027-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 3.50 09/30/2027                                          | CUSIP: 91282CPB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12200000 | PA      | $12197140.56  | 9.43%             | 2027-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 3.50 10/31/2027                                          | CUSIP: 91282CPE5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $999804.69    | 0.77%             | 2027-10-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber Abs Issuer Llc                                                                                                    | Uniti Fiber Abs Issuer Llc 6.37                                                           | CUSIP: 91326EAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    206262 | PA      | $212401.74    | 0.16%             | 2055-04-20      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc                                                                                                  | Univision Communications Inc 7.38 06/30/2030                                              | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    195000 | PA      | $197992.28    | 0.15%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG Inc                                                                                                        | Venture Global LNG Inc 8.13 06/01/2028                                                    | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    380000 | PA      | $389488.22    | 0.30%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| VERTICAL BRIDGE CC LLC                                                                                                        | VERTICAL BRIDGE CC LLC 7.45                                                               | CUSIP: 92535VAU6<br>LEI: 549300DKEDU9WZPGTC09 | Long             | ABS-MBS          | CORP              | US        |    259741 | PA      | $265121.15    | 0.20%             | 2055-08-16      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2021-R2                                                                                            | Verus Securitization Trust 2021-R2 1.23                                                   | CUSIP: 92538DAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29371 | PA      | $27529.84     | 0.02%             | 2064-02-25      | Variable      | 1.23%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2024-4                                                                                             | Verus Securitization Trust 2024-4 6.22                                                    | CUSIP: 92540GAA6<br>LEI: 213800WNY873LW1L3M73 | Long             | ABS-MBS          | CORP              | US        |    101705 | PA      | $102883.60    | 0.08%             | 2069-06-25      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                                                                                               | Danske Bank A/S (pfd) 4.38% 11/18/2174 Perpetual                                          | CUSIP: K2227DL59<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EP               | CORP              | DK        |    610000 | NS      | $609177.41    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                                                                                                                  | ING Groep NV (pfd) 7.50% 05/16/2174 Perpetual                                             | CUSIP: N4578ELM8<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EP               | CORP              | NL        |    200000 | NS      | $208494.02    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                                                                                              | Skandinaviska Enskilda Banken AB (pfd) 6.88% 12/30/2173 Perpetual                         | CUSIP: W8T54FK56<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | EP               | CORP              | SE        |    600000 | NS      | $616933.37    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2024-5                                                                                             | Verus Securitization Trust 2024-5 6.19                                                    | CUSIP: 92540HAA4<br>LEI: 213800YE6HC7EZSFHW30 | Long             | ABS-MBS          | CORP              | US        |    225777 | PA      | $228482.83    | 0.18%             | 2069-06-25      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2024-9                                                                                             | Verus Securitization Trust 2024-9 5.89                                                    | CUSIP: 92540RAE4<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-MBS          | CORP              | US        |    254800 | PA      | $257181.42    | 0.20%             | 2069-11-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2025-4                                                                                             | Verus Securitization Trust 2025-4 5.75                                                    | CUSIP: 92540UAE7<br>LEI: 2138009ZO3B2B5MAHZ49 | Long             | ABS-MBS          | CORP              | US        |    134939 | PA      | $135709.20    | 0.10%             | 2070-05-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2025-R1                                                                                            | Verus Securitization Trust 2025-R1 5.77                                                   | CUSIP: 92541AAC4<br>LEI: 213800UBQ9UM61L7TB84 | Long             | ABS-MBS          | CORP              | US        |    444465 | PA      | $448626.98    | 0.35%             | 2065-05-25      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                                                                                              | Paramount Global 4.95 01/15/2031                                                          | CUSIP: 92556HAB3<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    199000 | PA      | $196460.07    | 0.15%             | 2031-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust 2020-2                                                                                       | Vista Point Securitization Trust 2020-2 1.48                                              | CUSIP: 92838TAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     45533 | PA      | $44067.25     | 0.03%             | 2065-04-25      | Variable      | 1.48%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust 2024-CES1                                                                                    | Vista Point Securitization Trust 2024-CES1 6.68                                           | CUSIP: 92839HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    221811 | PA      | $224498.42    | 0.17%             | 2054-05-25      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| VoltaGrid LLC                                                                                                                 | VoltaGrid LLC 7.38 11/01/2030                                                             | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |    141000 | PA      | $140705.54    | 0.11%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Vornado Realty LP                                                                                                             | Vornado Realty LP 2.15 06/01/2026                                                         | CUSIP: 929043AK3<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |    363000 | PA      | $358222.66    | 0.28%             | 2026-06-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group Inc                                                                                                          | WEC Energy Group Inc 5.63 05/15/2056                                                      | CUSIP: 92939UAU0<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    185000 | PA      | $187882.06    | 0.15%             | 2056-05-15      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| WB Commercial Mortgage Trust 2024-HQ                                                                                          | WB Commercial Mortgage Trust 2024-HQ 6.13                                                 | CUSIP: 92943PAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    209000 | PA      | $209378.67    | 0.16%             | 2040-03-15      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2017-C41                                                                                | Wells Fargo Commercial Mortgage Trust 2017-C41 2.60                                       | CUSIP: 95001AAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20000 | PA      | $17041.20     | 0.01%             | 2050-11-15      | Variable      | 2.60%                 | No            |                  2 | On Loan: No      |
| Bread Financial Holdings Inc                                                                                                  | Bread Financial Holdings Inc 6.75 05/15/2031                                              | CUSIP: 018581AR9<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |    315000 | PA      | $321972.21    | 0.25%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Alliant Energy Corp                                                                                                           | Alliant Energy Corp 5.75 04/01/2056                                                       | CUSIP: 018802AF5<br>LEI: 5493009ML300G373MZ12 | Long             | DBT              | CORP              | US        |    432000 | PA      | $431804.13    | 0.33%             | 2056-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                                                                                                  | Alphabet Inc 3.88 11/15/2028                                                              | CUSIP: 02079KAV9<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    470000 | PA      | $472883.30    | 0.37%             | 2028-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                                                                         | AMERICAN AIRLINES INC 2024 1ST LIEN TERM LOAN B                                           | CUSIP: 02376CBR5<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |    130950 | PA      | $130996.49    | 0.10%             | 2028-02-15      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| American Airlines 2014-1 Class A Pass Through Trust                                                                           | American Airlines 2014-1 Class A Pass Through Trust 3.70 04/01/2028                       | CUSIP: 02377AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6587 | PA      | $6555.91      | 0.01%             | 2028-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                                                                                                | American Electric Power Co Inc 5.80 03/15/2056                                            | CUSIP: 02557TAE9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     53000 | PA      | $52668.63     | 0.04%             | 2056-03-15      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co Inc                                                                                                | American Electric Power Co Inc 6.05 03/15/2056                                            | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     52000 | PA      | $52066.38     | 0.04%             | 2056-03-15      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| Global Net Lease Inc                                                                                                          | Global Net Lease Inc 4.50 09/30/2028                                                      | CUSIP: 02608AAA7<br>LEI: 549300NUYANCT5SU8Z65 | Long             | DBT              | CORP              | US        |    480000 | PA      | $468284.06    | 0.36%             | 2028-09-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp                                                                                                                 | Amphenol Corp 3.90 11/15/2028                                                             | CUSIP: 032095AX9<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    270000 | PA      | $270165.74    | 0.21%             | 2028-11-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2020-5                                                                                               | Angel Oak Mortgage Trust 2020-5 1.58                                                      | CUSIP: 03464WAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     34820 | PA      | $33705.26     | 0.03%             | 2065-05-25      | Variable      | 1.58%                 | No            |                  2 | On Loan: No      |
| AppLovin Corp                                                                                                                 | AppLovin Corp 5.13 12/01/2029                                                             | CUSIP: 03831WAB4<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    688000 | PA      | $703956.23    | 0.54%             | 2029-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Trust Inc                                                                                                        | Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd 5.42                               | CUSIP: 03880RAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     43760 | PA      | $43753.31     | 0.03%             | 2036-11-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Ares Strategic Income Fund                                                                                                    | Ares Strategic Income Fund 5.70 03/15/2028                                                | CUSIP: 04020EAG2<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    260000 | PA      | $263559.91    | 0.20%             | 2028-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital Inc                                                                                                           | Ashtead Capital Inc 4.38 08/15/2027                                                       | CUSIP: 045054AF0<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    350000 | PA      | $350043.15    | 0.27%             | 2027-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Aspen Insurance Holdings Ltd                                                                                                  | Aspen Insurance Holdings Ltd 5.75 07/01/2030                                              | CUSIP: 04530DAE2<br>LEI: 549300YX6HECG9XQCQ75 | Long             | DBT              | CORP              | BM        |    425000 | PA      | $445649.34    | 0.34%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Atlas Warehouse Lending Co LP                                                                                                 | Atlas Warehouse Lending Co LP 6.05 01/15/2028                                             | CUSIP: 049463AD4<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |    560000 | PA      | $578497.21    | 0.45%             | 2028-01-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd/United Kingdom                                                                      | Australia & New Zealand Banking Group Ltd/United Kingdom (pfd) 6.75% 12/15/2173 Perpetual | CUSIP: 05254HAA2<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | EP               | CORP              | GB        |    200000 | NS      | $202759.20    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Avilease Capital Ltd                                                                                                          | Avilease Capital Ltd 4.75 11/12/2030                                                      | CUSIP: 05370HAA1<br>LEI: 635400SXOPVAVBWNE366 | Long             | DBT              | CORP              | KY        |    240000 | PA      | $238857.38    | 0.18%             | 2030-11-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                                                                | BNP Paribas SA (pfd) 8.50% 02/14/2174 Perpetual                                           | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EP               | CORP              | FR        |    865000 | NS      | $924057.01    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust 2021-ARIA                                                                                                            | BX Trust 2021-ARIA 4.97                                                                   | CUSIP: 05608RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $199922.42    | 0.15%             | 2036-10-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Blackstone Mortgage Trust Inc                                                                                                 | BXMT 2021-FL4 Ltd 5.38                                                                    | CUSIP: 05609GAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $248940.63    | 0.19%             | 2038-05-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2022-CSMO                                                                                        | BX Commercial Mortgage Trust 2022-CSMO 6.07                                               | CUSIP: 05610MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $200826.00    | 0.16%             | 2027-06-15      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Black Hills Corp                                                                                                              | Black Hills Corp 4.55 01/31/2031                                                          | CUSIP: 092113AY5<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |    425000 | PA      | $425552.67    | 0.33%             | 2031-01-31      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                                                                                                | Blackstone Private Credit Fund 5.95 07/16/2029                                            | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    355000 | PA      | $363168.11    | 0.28%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Blue Racer Midstream LLC / Blue Racer Finance Corp                                                                            | Blue Racer Midstream LLC / Blue Racer Finance Corp 7.00 07/15/2029                        | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $287017.23    | 0.22%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Blue Owl Technology Finance Corp                                                                                              | Blue Owl Technology Finance Corp 6.10 03/15/2028                                          | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    436000 | PA      | $437168.12    | 0.34%             | 2028-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer 2021-1                                                                                                      | Flexential Issuer 2021-1 3.25                                                             | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     45714 | PA      | $45002.57     | 0.03%             | 2051-11-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer LLC                                                                                                         | Flexential Issuer LLC 6.03                                                                | CUSIP: 33938MAK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    463000 | PA      | $463041.02    | 0.36%             | 2060-10-25      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| PONTE VEDRA PINE OBLIG                                                                                                        | Florida Local Government Finance Commission 6.75% 11/15/2030                              | CUSIP: 34077UAN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $211268.97    | 0.16%             | 2030-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                                                                                                      | Ford Motor Credit Co LLC 5.13 11/05/2026                                                  | CUSIP: 345397F81<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $502506.05    | 0.39%             | 2026-11-05      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fortitude Global Funding                                                                                                      | Fortitude Global Funding 4.63 10/06/2028                                                  | CUSIP: 34967GAA2<br>LEI: 635400TKBOGEHNO5RT68 | Long             | DBT              | CORP              | US        |    282000 | PA      | $282331.48    | 0.22%             | 2028-10-06      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                                                                                         | Foundry JV Holdco LLC 5.50 01/25/2031                                                     | CUSIP: 350930AF0<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    405000 | PA      | $421444.15    | 0.33%             | 2031-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac STACR REMIC Trust 2022-DNA6                                                                                       | Freddie Mac STACR REMIC Trust 2022-DNA6 6.22                                              | CUSIP: 35564KH36<br>LEI: 5493000IS30HKV5IAS29 | Long             | ABS-MBS          | CORP              | US        |     20604 | PA      | $20709.87     | 0.02%             | 2042-09-25      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Freddie Mac STACR REMIC Trust 2022-DNA5                                                                                       | Freddie Mac STACR REMIC Trust 2022-DNA5 7.02                                              | CUSIP: 35564KYN3<br>LEI: 5493000IS349P4O9HR58 | Long             | ABS-MBS          | CORP              | US        |     35386 | PA      | $36099.98     | 0.03%             | 2042-06-25      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                                                                 | Freedom Mortgage Holdings LLC 9.25 02/01/2029                                             | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    741000 | PA      | $777453.34    | 0.60%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                                                                          | Frontier Communications Holdings LLC 8.63 03/15/2031                                      | CUSIP: 35908MAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    370000 | PA      | $391149.57    | 0.30%             | 2031-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| GA Global Funding Trust                                                                                                       | GA Global Funding Trust 4.40 09/23/2027                                                   | CUSIP: 36143L2N4<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    395000 | PA      | $396138.64    | 0.31%             | 2027-09-23      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2024-HE1                                                                                  | GS Mortgage-Backed Securities Trust 2024-HE1 5.67                                         | CUSIP: 36270AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    172234 | PA      | $172722.15    | 0.13%             | 2054-08-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2025-PJ5                                                                                  | GS Mortgage-Backed Securities Trust 2025-PJ5 5.50                                         | CUSIP: 36272DAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    172932 | PA      | $174254.50    | 0.13%             | 2055-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2025-PJ6                                                                                  | GS Mortgage-Backed Securities Trust 2025-PJ6 6.00                                         | CUSIP: 36272KAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    305832 | PA      | $310755.11    | 0.24%             | 2055-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2024-PJ8                                                                                  | GS Mortgage-Backed Securities Trust 2024-PJ8 5.00                                         | CUSIP: 36272LAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    351667 | PA      | $350102.97    | 0.27%             | 2055-02-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2025-PJ7                                                                                  | GS Mortgage-Backed Securities Trust 2025-PJ7 5.50                                         | CUSIP: 36272MAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    272902 | PA      | $274740.39    | 0.21%             | 2055-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2024-PJ7                                                                                  | GS Mortgage-Backed Securities Trust 2024-PJ7 5.50                                         | CUSIP: 362949AM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    104807 | PA      | $104803.43    | 0.08%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Global Payments Inc                                                                                                           | Global Payments Inc 4.50 11/15/2028                                                       | CUSIP: 37940XAV4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    465000 | PA      | $466663.12    | 0.36%             | 2028-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Global Atlantic Fin Co                                                                                                        | Global Atlantic Fin Co 4.40 10/15/2029                                                    | CUSIP: 37959GAA5<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |    520000 | PA      | $511765.05    | 0.40%             | 2029-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The                                                                                                   | Goldman Sachs Group Inc/The (pfd) 3.80% 11/10/2174 Perpetual                              | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |    330000 | NS      | $327558.17    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The                                                                                                   | Goldman Sachs Group Inc/The (pfd) 7.38% 02/10/2174 Perpetual                              | CUSIP: 38148BAE8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |    235000 | NS      | $237134.98    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Golub Capital BDC Inc                                                                                                         | Golub Capital BDC Inc 7.05 12/05/2028                                                     | CUSIP: 38173MAD4<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    161000 | PA      | $169569.66    | 0.13%             | 2028-12-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Golub Capital Private Credit Fund                                                                                             | Golub Capital Private Credit Fund 5.45 08/15/2028                                         | CUSIP: 38179RAE5<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    310000 | PA      | $312035.13    | 0.24%             | 2028-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC                                                         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC 5.50 03/31/2031     | CUSIP: 01309QAC2<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    155000 | PA      | $157311.98    | 0.12%             | 2031-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Aligned Data Centers Issuer LLC                                                                                               | Aligned Data Centers Issuer LLC 6.35                                                      | CUSIP: 01627AAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $250123.13    | 0.19%             | 2047-10-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer                                                                                                               | DataBank Issuer 5.12                                                                      | CUSIP: 23802WAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    302000 | PA      | $301233.34    | 0.23%             | 2053-02-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Diamond Issuer LLC                                                                                                            | Diamond Issuer LLC 2.31                                                                   | CUSIP: 25267TAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    165000 | PA      | $157031.14    | 0.12%             | 2051-11-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Ltd / Difl US LLC                                                                               | Digicel International Finance Ltd / Difl US LLC 8.63 08/01/2032                           | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | JM        |    200000 | PA      | $204903.60    | 0.16%             | 2032-08-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Discovery Communications LLC                                                                                                  | Discovery Communications LLC 3.95 03/20/2028                                              | CUSIP: 25470DAR0<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    222000 | PA      | $210900.00    | 0.16%             | 2028-03-20      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Discovery Communications LLC                                                                                                  | Discovery Communications LLC 4.13 05/15/2029                                              | CUSIP: 25470DCA5<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    340000 | PA      | $330979.80    | 0.26%             | 2029-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                                                                                       | Dryden 30 Senior Loan Fund 5.81                                                           | CUSIP: 26249BAU5<br>LEI: 549300AS2O1RYPD2ED41 | Long             | ABS-CBDO         | CORP              | US        |     69038 | PA      | $69241.43     | 0.05%             | 2028-11-15      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                                                                                       | Duke Energy Florida LLC 4.20 12/01/2030                                                   | CUSIP: 26444HAT8<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    134000 | PA      | $134309.03    | 0.10%             | 2030-12-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| EDI ABS Issuer 1 LLC                                                                                                          | EDI ABS Issuer 1 LLC 4.55                                                                 | CUSIP: 268332AB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    147000 | PA      | $140311.91    | 0.11%             | 2055-07-25      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| EFMT 2025-NQM3                                                                                                                | EFMT 2025-NQM3 5.49                                                                       | CUSIP: 26846YAB4<br>LEI: 2549007I2BIJP4S0O647 | Long             | ABS-MBS          | CORP              | US        |    380763 | PA      | $382659.60    | 0.30%             | 2070-08-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| EOG Resources Inc                                                                                                             | EOG Resources Inc 4.40 01/15/2031                                                         | CUSIP: 26875PBB6<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    444000 | PA      | $446247.02    | 0.35%             | 2031-01-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                                                                                                | EPR Properties 4.50 06/01/2027                                                            | CUSIP: 26884UAD1<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |    940000 | PA      | $941035.62    | 0.73%             | 2027-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco Sarl                                                                                                      | Eagle Funding Luxco Sarl 5.50 08/17/2030                                                  | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    853000 | PA      | $867023.32    | 0.67%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Emera Inc                                                                                                                     | Emera Inc 6.75 06/15/2076                                                                 | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |    208000 | PA      | $209701.86    | 0.16%             | 2076-06-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                                                                                                  | Enbridge Inc 6.00 01/15/2077                                                              | CUSIP: 29250NAN5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    685000 | PA      | $687869.47    | 0.53%             | 2077-01-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                                                            | Energy Transfer LP (pfd) 6.50% 11/15/2174 Perpetual                                       | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |    280000 | NS      | $281909.88    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinix Europe 2 Financing Corp LLC                                                                                           | Equinix Europe 2 Financing Corp LLC 4.60 11/15/2030                                       | CUSIP: 29390XAG9<br>LEI: 254900FSZR46BPMCKI50 | Long             | DBT              | CORP              | US        |    425000 | PA      | $427881.95    | 0.33%             | 2030-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Equinor ASA                                                                                                                   | Equinor ASA 4.50 09/03/2030                                                               | CUSIP: 29446MAM4<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | DBT              | CORP              | NO        |    471000 | PA      | $480048.41    | 0.37%             | 2030-09-03      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Essent Group Ltd                                                                                                              | Essent Group Ltd 6.25 07/01/2029                                                          | CUSIP: 29669JAA7<br>LEI: 254900QUO860OUT6ZF83 | Long             | DBT              | CORP              | BM        |    380000 | PA      | $397497.70    | 0.31%             | 2029-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| EUSHI Finance Inc                                                                                                             | EUSHI Finance Inc 6.25 04/01/2056                                                         | CUSIP: 29882DAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    289000 | PA      | $289515.29    | 0.22%             | 2056-04-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| F&G Annuities & Life Inc                                                                                                      | F&G Annuities & Life Inc 6.50 06/04/2029                                                  | CUSIP: 30190AAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    705000 | PA      | $735597.85    | 0.57%             | 2029-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust 2020-1                                                                                     | Ellington Financial Mortgage Trust 2020-1 2.01                                            | CUSIP: 31574PAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       628 | PA      | $626.14       | 0.00%             | 2065-05-25      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| First Horizon Bank                                                                                                            | First Horizon Bank 5.75 05/01/2030                                                        | CUSIP: 337158AJ8<br>LEI: COOWI3L2W9TPYR3WJX37 | Long             | DBT              | CORP              | US        |    285000 | PA      | $295468.80    | 0.23%             | 2030-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Solutions Trust 2021-4                                                                              | GoodLeap Sustainable Home Solutions Trust 2021-4 1.93                                     | CUSIP: 38237GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175136 | PA      | $145146.28    | 0.11%             | 2048-07-20      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| Greenko Wind Projects Mauritius Ltd                                                                                           | Greenko Wind Projects Mauritius Ltd 7.25 09/27/2028                                       | CUSIP: 39531JAB0<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |    420000 | PA      | $424272.69    | 0.33%             | 2028-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-27

**Name of Applicant:** American Century ETF Trust

**Signature:** Amy R. Bitter

**Name of Signer:** Amy R. Bitter

**Title:** Assistant Treasurer