# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001193125-25-290849
**Filing Date:** 2025-11
**Character Count:** 191497
**Document Hash:** fe440c5f016442aae0261dfd88405d5d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-290849.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001193125-25-290849

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust
- **CENTRAL INDEX KEY:** 0001318342

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21719
- **FILM NUMBER:** 251505238

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 626-914-4141

**MAIL ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Claymore Trust
- **DATE OF NAME CHANGE:** 20050603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Claymore Equity Trust
- **DATE OF NAME CHANGE:** 20050218

## Series and Classes Contracts Data

### AAM/HIMCO Short Duration Fund (Series ID: S000045893)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000142996 | Class A      | ASDAX           |
| C000142997 | Class C      | ASDCX           |
| C000142998 | Class I      | ASDIX           |

## Nport-Ex

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **ASSET-BACKED SECURITIES — 12.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2687000 | American Express Credit Account Master Trust<br> Series 2024-1, Class A, 5.23%, 4/15/2029<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2742949 |
|  | Apidos CLO |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789474 | Series 2012-11A, Class XR4, 5.32% (3-Month Term SOFR+100 basis points), 4/17/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Series 2020-34A, Class B1R, 6.24% (3-Month Term SOFR+191 basis points), 1/20/2035<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333000 | BA Credit Card Trust<br> Series 2024-A1, Class A, 4.93%, 5/15/2029<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2372925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | Balboa Bay Loan Funding Ltd.<br> Series 2022-1A, Class XR, 5.37% (3-Month Term SOFR+105 basis points), 4/20/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Carmax Auto Owner Trust<br> Series 2022-3, Class C, 4.98%, 2/15/2028<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005330 |
|  | Commonbond Student Loan Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12290 | Series 2016-B, Class B, 4.00%, 10/25/2040<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223718 | Series 2018-CGS, Class A1, 3.87%, 2/25/2046<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217384 |
|  | Credit Acceptance Auto Loan Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362823 | Series 2023-1A, Class A, 6.48%, 3/15/2033<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Series 2024-2A, Class A, 5.95%, 6/15/2034<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019649 |
|  | Crown City CLO |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583333 | Series 2022-4A, Class X, 5.42% (3-Month Term SOFR+110 basis points), 4/20/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583333 | Series 2023-5A, Class X, 5.47% (3-Month Term SOFR+115 basis points), 4/20/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Dryden CLO Ltd.<br> Series 2023-105A, Class XR, 5.38% (3-Month Term SOFR+105 basis points), 4/15/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333333 | Eaton Vance CLO Ltd.<br> Series 2019-1A, Class X, 5.37% (3-Month Term SOFR+105 basis points), 7/15/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333655 |
|  | Evergreen Credit Card Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248000 | Series 2024-CRT4, Class B, 5.25%, 10/15/2028<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893000 | Series 2024-CRT4, Class C, 5.64%, 10/15/2028<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314000 | Series 2025-CRT5, Class C, 5.53%, 5/15/2029<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317531 |
|  | Exeter Automobile Receivables Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599708 | Series 2022-1A, Class D, 3.02%, 6/15/2028<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821544 | Series 2022-2A, Class D, 4.56%, 7/17/2028<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | Ford Credit Auto Owner Trust<br> Series 2022-C, Class C, 5.22%, 3/15/2030<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | GM Financial Consumer Automobile Receivables Trust<br> Series 2023-2, Class B, 4.82%, 10/16/2028<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008039 |
|  | GreenSky Home Improvement Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95783 | Series 2024-1, Class A2, 5.88%, 6/25/2059<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635511 | Series 2025-1A, Class A2, 5.12%, 3/25/2060<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155762 | HERO Funding Trust<br> Series 2015-2A, Class A, 3.99%, 9/20/2040<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150788 |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **ASSET-BACKED SECURITIES (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000000 | HPEFS Equipment Trust<br> Series 2023-2A, Class C, 6.48%, 1/21/2031<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1006112 |
|  | JP Morgan Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457939 | Series 2023-HE3, Class M2, 6.89% (30-Day SOFR Average+250 basis points), 5/20/2054<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493333 | Series 2024-HE3, Class M2, 6.39% (30-Day SOFR Average+200 basis points), 2/25/2055<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907784 | Series 2025-HE1, Class M2, 6.14% (30-Day SOFR Average+175 basis points), 7/20/2055<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Navient Private Education Refi Loan Trust<br> Series 2019-CA, Class B, 3.67%, 2/15/2068<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | Neuberger Berman CLO Ltd.<br> Series 2017-16SA, Class XR2, 5.27% (3-Month Term SOFR+95 basis points), 4/15/2039<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1799952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | Octagon Ltd.<br> Series 2023-2A, Class XR, 5.37% (3-Month Term SOFR+105 basis points), 4/20/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Park Avenue Institutional Advisers CLO Ltd.<br> Series 2019-2A, Class A2R, 6.28% (3-Month Term SOFR+196 basis points), 10/15/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666667 | Regatta VIII Funding Ltd.<br> Series 2017-1A, Class X, 5.42% (3-Month Term SOFR+110 basis points), 4/17/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Santander Drive Auto Receivables Trust<br> Series 2022-5, Class D, 5.67%, 12/16/2030<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666667 | Sixth Street CLO Ltd.<br> Series 2019-13A, Class XR, 5.28% (3-Month Term SOFR+95 basis points), 1/21/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542203 | SoFi Professional Loan Program LLC<br> Series 2018-A, Class B, 3.61%, 2/25/2042<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136888 | Store Master Funding<br> Series 2018-1A, Class A2, 4.29%, 10/20/2048<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1129771 |
|  | Tricon American Homes Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982316 | Series 2019-SFR1, Class A, 2.75%, 3/17/2038<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Series 2020-SFR1, Class C, 2.25%, 7/17/2038<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Venture CLO Ltd.<br> Series 2019-36A, Class A2R, 5.99% (3-Month Term SOFR+166 basis points), 4/20/2032<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Vibrant CLO Ltd.<br> Series 2019-11A, Class A2R, 6.29% (3-Month Term SOFR+196 basis points), 7/20/2032<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830000 | Westlake Automobile Receivables Trust<br> Series 2021-3A, Class E, 3.42%, 4/15/2027<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826144 |
|  | **TOTAL ASSET-BACKED SECURITIES** |  |
|  | (Cost $45,377,492) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45318598** |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **BANK LOANS — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$986665 | 1011778 BC ULC<br> 6.07% (1-Month Term SOFR+175 basis points), 9/23/2030<sup>1,2,4,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$984607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697003 | AAdvantage Loyalty IP Ltd.<br> 6.54% (3-Month Term SOFR+225 basis points), 4/20/2028<sup>1,2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613722 | Aramark Services, Inc.<br> 6.17% (1-Month Term SOFR+250 basis points), 6/24/2030<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322473 | Charter Communications Operating LLC<br> 7.33% (3-Month Term SOFR+200 basis points), 12/9/2030<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041731 | Genesee & Wyoming, Inc.<br> 5.75% (3-Month Term SOFR+200 basis points), 4/10/2031<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266660 | Hilcorp Energy I LP<br> 6.15% (1-Month Term SOFR+200 basis points), 2/5/2030<sup>4,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145359 | ICON Luxembourg Sarl PLC<br> 6.00% (3-Month Term SOFR+200 basis points), 7/3/2028<sup>1,2,4,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992424 | Iron Mountain Information Management LLC<br> 6.17% (1-Month Term SOFR+225 basis points), 1/31/2031<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740534 | Medline Borrower LP<br> 6.16% (1-Month Term SOFR+200 basis points), 10/23/2030<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36216 | PRA Health Sciences, Inc.<br> 6.00% (3-Month Term SOFR+200 basis points), 7/3/2028<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051715 | Quikrete Holdings, Inc.<br> 6.56% (1-Month Term SOFR+225 basis points), 2/10/2032<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404940 | Ryan Specialty LLC<br> 6.16% (1-Month Term SOFR+225 basis points), 9/15/2031<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244053 | SBA Senior Finance LLC<br> 6.07% (1-Month Term SOFR+200 basis points), 1/27/2031<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415585 | SkyMiles IP Ltd.<br> 8.56% (3-Month Term SOFR+375 basis points), 10/20/2027<sup>1,2,4,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429421 | Virgin Media Bristol LLC<br> 6.94% (1-Month Term SOFR+250 basis points), 1/31/2028<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131861 | Vistra Operations Co. LLC<br> 0.00% (1-Month Term SOFR+175 basis points), 12/31/2025<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263000 | XPO, Inc.<br> 5.91% (1-Month Term SOFR+200 basis points), 2/28/2031<sup>1,2,4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264249 |
|  | **TOTAL BANK LOANS** |  |
|  | (Cost $11,747,042) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11795467** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.5%** |  |
|  | Angel Oak Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123128 | Series 2019-5, Class A3, 2.92%, 10/25/2049<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Series 2020-R1, Class B1, 3.67%, 4/25/2053<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56199 | Series 2019-6, Class A3, 2.93%, 11/25/2059<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108262 | Series 2020-1, Class A3, 2.77%, 12/25/2059<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1332800 | Series 2020-3, Class B2, 5.33%, 4/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210829 | Series 2020-5, Class A3, 2.04%, 5/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724446 | Series 2020-4, Class M1, 3.80%, 6/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290192 | Arroyo Mortgage Trust<br> Series 2019-2, Class M1, 4.76%, 4/25/2049<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246151 |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS (Continued)** |  |
|  | BRAVO Residential Funding Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$110908 | Series 2021-NQM2, Class A2, 1.28%, 3/25/2060<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$108398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286842 | Series 2021-NQM3, Class B1, 3.91%, 4/25/2060<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191031 |
|  | Citigroup Mortgage Loan Trust, Inc. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496512 | Series 2015-RP2, Class B4, 4.25%, 1/25/2053<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39859 | Series 2018-RP1, Class A1, 3.00%, 9/25/2064<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107890 | COLT Mortgage Loan Trust<br> Series 2021-4, Class A3, 1.65%, 10/25/2066<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995053 | Credit Suisse Mortgage Capital Trust<br> Series 2019-AFC1, Class M1, 3.06%, 7/25/2049<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825866 |
|  | Deephaven Residential Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702196 | Series 2021-3, Class A1, 1.19%, 8/25/2066<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695346 | Series 2021-3, Class A3, 1.55%, 8/25/2066<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409709 | Series 2021-4, Class A3, 2.24%, 11/25/2066<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621596 | Series 2022-1, Class A1, 2.21%, 1/25/2067<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570526 |
|  | Ellington Financial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918667 | Series 2020-1, Class A2, 3.15%, 5/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76021 | Series 2020-2, Class A2, 1.49%, 10/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229954 | Series 2021-1, Class A3, 1.11%, 2/25/2066<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275000 | Mill City Mortgage Trust<br> Series 2015-1, Class B1, 3.79%, 6/25/2056<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244821 |
|  | New Residential Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79049 | Series 2020-NQM1, Class A2, 2.72%, 1/26/2060<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158098 | Series 2020-NQM1, Class A3, 2.77%, 1/26/2060<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191255 | NLT Trust<br> Series 2021-INV2, Class A3, 1.52%, 8/25/2056<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050584 |
|  | Residential Mortgage Loan Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400615 | Series 2020-2, Class A3, 2.91%, 5/25/2060<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2341773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833333 | Series 2020-2, Class M1, 3.56%, 5/25/2060<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66883 | Series 2021-1R, Class A3, 1.20%, 1/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64456 |
|  | SG Residential Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913626 | Series 2021-1, Class A3, 1.56%, 7/25/2061<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418858 | Series 2020-2, Class M1, 3.19%, 5/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | Series 2020-2, Class B1, 4.25%, 5/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115598 |
|  | Starwood Mortgage Residential Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619282 | Series 2021-4, Class A1, 1.16%, 8/25/2056<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323921 | Series 2021-4, Class A3, 1.58%, 8/25/2056<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307972 | Series 2021-1, Class A1, 1.22%, 5/25/2065<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526900 | TRK Trust<br> Series 2021-INV1, Class A3, 1.56%, 7/25/2056<sup>1,3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477914 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** |  |
|  | (Cost $26,183,948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23952693** |
|  | **COMMERCIAL MORTGAGE-BACKED SECURITIES — 11.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502475 | Bank of America Merrill Lynch Commercial Mortgage Trust<br> Series 2017-BNK3, Class A3, 3.31%, 2/15/2050<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497424 |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000000 | Benchmark Mortgage Trust<br> Series 2019-B12, Class A4, 2.86%, 8/15/2052<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$946132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | BFLD Trust<br> Series 2020-EYP, Class D, 7.22% (1-Month Term SOFR+307 basis points), 10/15/2035<sup>2,3,7</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  | BX Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Series 2021-MFM1, Class D, 5.76% (1-Month Term SOFR+161 basis points), 1/15/2034<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | Series 2021-LBA, Class FJV, 6.67% (1-Month Term SOFR+252 basis points), 2/15/2036<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948972 | Series 2021-LBA, Class FV, 6.67% (1-Month Term SOFR+252 basis points), 2/15/2036<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211035 | Series 2021-VOLT, Class A, 4.96% (1-Month Term SOFR+81 basis points), 9/15/2036<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775063 | Series 2021-VOLT, Class F, 6.66% (1-Month Term SOFR+252 basis points), 9/15/2036<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Series 2021-PAC, Class F, 6.66% (1-Month Term SOFR+251 basis points), 10/15/2036<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1494375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402780 | Series 2021-SOAR, Class F, 6.62% (1-Month Term SOFR+246 basis points), 6/15/2038<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | Series 2021-XL2, Class F, 6.51% (1-Month Term SOFR+236 basis points), 10/15/2038<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770000 | Series 2022-LP2, Class E, 6.76% (1-Month Term SOFR+261 basis points), 2/15/2039<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704510 | Series 2024-XL5, Class C, 6.09% (1-Month Term SOFR+194 basis points), 3/15/2041<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768922 | Series 2024-CNYN, Class C, 6.09% (1-Month Term SOFR+194 basis points), 4/15/2041<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | CD Mortgage Trust<br> Series 2017-CD6, Class A5, 3.46%, 11/13/2050<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146976 | CFCRE Commercial Mortgage Trust<br> Series 2016-C3, Class XA, 1.04%, 1/10/2048<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | DBJPM Mortgage Trust<br> Series 2016-C3, Class A5, 2.89%, 8/10/2049<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2108190 | Extended Stay America Trust<br> Series 2021-ESH, Class C, 5.96% (1-Month Term SOFR+181 basis points), 7/15/2038<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2108190 |
|  | Freddie Mac Multifamily Structured Pass-Through Certificates |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109436 | Series K046, Class X3, 3.51%, 4/25/2043<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186566 | Series K050, Class X3, 4.17%, 10/25/2043<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | Series K052, Class X3, 1.70%, 1/25/2044<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721882 | Series K097, Class X3, 2.09%, 9/25/2046<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119490 |
|  | Government National Mortgage Association |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135444 | Series 2013-139, Class IO, 0.34%, 10/16/2054<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225235 | Series 2013-175, Class IO, 0.14%, 5/16/2055<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134523 | Series 2014-120, Class IO, 0.41%, 4/16/2056<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2152900 | Series 2017-185, Class IO, 0.55%, 4/16/2059<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75373 |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2803775 | Series 2017-169, Class IO, 0.52%, 1/16/2060<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$77698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930270 | Series 2018-41, Class IO, 0.56%, 5/16/2060<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3301730 | Series 2018-52, Class IO, 0.59%, 7/16/2060<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049039 | Series 2019-8, Class IO, 0.76%, 11/16/2060<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16608215 | Series 2020-8, Class IO, 0.53%, 1/16/2062<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530237 |
|  | GS Mortgage Securities Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810000 | Series 2023-SHIP, Class A, 4.47%, 9/10/2038<sup>3,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439000 | Series 2016-GS4, Class A4, 3.44%, 11/10/2049<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610000 | Series 2017-GS7, Class A4, 3.43%, 8/10/2050<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064938 | Series 2018-GS9, Class A3, 3.73%, 3/10/2051<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587459 | GS Mortgage-Backed Securities Trust<br> Series 2024-HE2, Class A1, 5.86% (30-Day SOFR Average+150 basis points), 1/25/2055<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1675000 | LCCM Mortgage Trust<br> Series 2017-LC26, Class A4, 3.55%, 7/12/2050<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | Life Mortgage Trust<br> Series 2021-BMR, Class F, 6.61% (1-Month Term SOFR+246 basis points), 3/15/2038<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | MHC Commercial Mortgage Trust<br> Series 2021-MHC, Class F, 6.87% (1-Month Term SOFR+272 basis points), 4/15/2038<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Morgan Stanley Bank of America Merrill Lynch Trust<br> Series 2016-C32, Class A4, 3.72%, 12/15/2049<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | NYCT Trust<br> Series 2024-3ELV, Class A, 6.14% (1-Month Term SOFR+199 basis points), 8/15/2029<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | SMRT<br> Series 2022-MINI, Class E, 6.85% (1-Month Term SOFR+270 basis points), 1/15/2039<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1174378 | SREIT Trust<br> Series 2021-MFP, Class F, 6.89% (1-Month Term SOFR+274 basis points), 11/15/2038<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173278 |
|  | UBS Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | Series 2017-C5, Class A5, 3.47%, 11/15/2050<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Series 2018-C10, Class A4, 4.31%, 5/15/2051<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Series 2019-C16, Class A4, 3.60%, 4/15/2052<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11398417 | Series 2019-C18, Class XA, 1.11%, 12/15/2052<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336242 |
|  | Wells Fargo Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169986 | Series 2016-LC24, Class A4, 2.94%, 10/15/2049<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Series 2016-NXS6, Class A4, 2.92%, 11/15/2049<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Series 2017-C39, Class A5, 3.42%, 9/15/2050<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Series 2019-C50, Class A5, 3.73%, 5/15/2052<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Series 2016-LC25, Class A4, 3.64%, 12/15/2059<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483293 |
|  | WFRBS Commercial Mortgage Trust |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835164 | Series 2014-C21, Class XB, 0.60%, 8/15/2047<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5523 |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6400000 | Series 2014-C22, Class XB, 0.45%, 9/15/2057<sup>1,6,8</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24307 |
|  | **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** |  |
|  | (Cost $40,922,690) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40186259** |
|  | **CORPORATE BONDS — 26.7%** |  |
|  | **COMMUNICATIONS — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | NBN Co., Ltd.<br> 4.00%, 10/1/2027<sup>1,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Netflix, Inc.<br> 4.37%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | NTT Finance Corp.<br> 4.62%, 7/16/2028<sup>3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505000 | T-Mobile USA, Inc.<br> 2.25%, 2/15/2026<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1493156 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4000906** |
|  | **CONSUMER DISCRETIONARY — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | American Builders & Contractors Supply Co., Inc.<br> 4.00%, 1/15/2028<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | Ford Motor Credit Co. LLC<br> 3.38%, 11/13/2025<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197799 |
|  | General Motors Financial Co., Inc. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.40%, 5/8/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.35%, 7/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.52% (SOFR Index+117 basis points), 4/4/2028<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.35%, 1/7/2030<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024608 |
|  | Hyundai Capital America |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.12% (SOFR+99 basis points), 3/25/2027<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.30%, 9/24/2027<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Taylor Morrison Communities, Inc.<br> 5.75%, 1/15/2028<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | United Airlines, Inc.<br> 4.37%, 4/15/2026<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Volkswagen Group of America Finance LLC<br> 4.90%, 8/14/2026<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004691 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9633633** |
|  | **CONSUMER STAPLES — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC<br> 3.25%, 3/15/2026<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Philip Morris International, Inc.<br> 4.37%, 11/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1405064** |
|  | **ENERGY — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529000 | Buckeye Partners LP<br> 3.95%, 12/1/2026<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524369 |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **ENERGY (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000000 | Chevron USA, Inc.<br> 4.80% (SOFR Index+47 basis points), 2/26/2028<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1001179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149000 | DCP Midstream Operating LP<br> 5.62%, 7/15/2027<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303000 | EnerSys<br> 4.38%, 12/15/2027<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Kinder Morgan, Inc.<br> 5.15%, 6/1/2030<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | ONEOK, Inc.<br> 4.25%, 9/24/2027<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001246 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4009572** |
|  | **FINANCIALS — 14.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust<br> 4.88%, 4/1/2028<sup>1,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Avolon Holdings Funding Ltd.<br> 4.95%, 1/15/2028<sup>1,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010114 |
|  | Bank of America Corp. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 1.73% (SOFR+96 basis points), 7/22/2027<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.96% (SOFR+83 basis points), 1/24/2029<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.98% (SOFR+83 basis points), 1/24/2029<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 5.82% (SOFR+157 basis points), 9/15/2029<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1568770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Bank of Montreal<br> 4.90% (SOFR Index+75 basis points), 9/22/2028<sup>1,2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Bank of New York Mellon<br> 4.73% (SOFR+114 basis points), 4/20/2029<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Bank of Nova Scotia<br> 4.89% (SOFR+76 basis points), 9/15/2028<sup>1,2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000414 |
|  | Barclays PLC |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 7.32% (USD 1 Year Tsy+305 basis points), 11/2/2026<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.09% (SOFR+96 basis points), 2/25/2029<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Capital One Financial Corp.<br> 5.70% (SOFR+190 basis points), 2/1/2030<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038711 |
|  | Citigroup, Inc. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.79% (SOFR+87 basis points), 3/4/2029<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.59% (SOFR+146 basis points), 5/7/2031<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914000 | Danske Bank A/S<br> 5.02% (USD 1 Year Tsy+93 basis points), 3/4/2031<sup>1,3,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931143 |
|  | Deutsche Bank A.G. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | 5.71% (SOFR+159 basis points), 2/8/2028<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.37% (SOFR+121 basis points), 1/10/2029<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021621 |
|  | Goldman Sachs Group, Inc. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.41% (SOFR+75 basis points), 5/21/2027<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.94% (SOFR+132 basis points), 4/23/2028<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.73% (SOFR+126 basis points), 4/25/2030<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046554 |
|  | HSBC Holdings PLC |  |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **FINANCIALS (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2000000 | 4.90% (SOFR+103 basis points), 3/3/2029<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2029322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.42% (SOFR+129 basis points), 3/3/2031<sup>1,2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007421 |
|  | ING Groep N.V. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.86% (SOFR+101 basis points), 3/25/2029<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | 5.16% (SOFR Index+101 basis points), 3/25/2029<sup>1,2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1808921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | JPMorgan Chase & Co.<br> 4.99% (SOFR+86 basis points), 10/22/2028<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2007372 |
|  | MassMutual Global Funding II |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.10%, 4/9/2027<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.45%, 3/27/2028<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010041 |
|  | Morgan Stanley Bank N.A. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 5.03% (SOFR+69 basis points), 10/15/2027<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665000 | 4.97% (SOFR+93 basis points), 7/14/2028<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.02% (SOFR+91 basis points), 1/12/2029<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.17% (SOFR+145 basis points), 1/16/2030<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | National Bank of Canada<br> 4.70% (SOFR+56 basis points), 3/5/2027<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | New York Life Global Funding<br> 4.79% (SOFR+66 basis points), 7/25/2028<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Northwestern Mutual Global Funding<br> 4.49%, 3/21/2028<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266000 | Penske Truck Leasing Co. Lp / PTL Finance Corp.<br> 6.05%, 8/1/2028<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940000 | Penske Truck Leasing Co. LP / PTL Finance Corp.<br> 5.75%, 5/24/2026<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | PNC Bank N.A.<br> 4.63% (SOFR+50 basis points), 1/15/2027<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Pricoa Global Funding<br> 4.40%, 8/27/2027<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Principal Life Global Funding<br> 4.60%, 8/19/2027<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703000 | RLJ Lodging Trust LP<br> 3.75%, 7/1/2026<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | State Street Corp.<br> 5.08% (SOFR+95 basis points), 4/24/2028<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Sumitomo Mitsui Trust Bank Ltd.<br> 4.88% (SOFR+75 basis points), 9/11/2028<sup>2,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003350 |
|  | UBS A.G. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.86% (SOFR+72 basis points), 1/10/2028<sup>1,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 5.62% (USISSO01+134 basis points), 9/13/2030<sup>1,3,5,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | VICI Properties LP / VICI Note Co., Inc.<br> 4.25%, 12/1/2026<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797029 |
|  | Wells Fargo & Co. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.97% (SOFR+137 basis points), 4/23/2029<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.24% (SOFR+111 basis points), 1/24/2031<sup>1,6</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034803 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**52605472** |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **HEALTH CARE — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1165000 | CVS Health Corp.<br> 4.30%, 3/25/2028<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1165760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | GlaxoSmithKline Capital PLC<br> 4.63% (SOFR+50 basis points), 3/12/2027<sup>2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002976 |
|  | HCA, Inc. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.37%, 9/1/2026<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.00% (SOFR+87 basis points), 3/1/2028<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006853 |
|  | IQVIA, Inc. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | 5.00%, 10/15/2026<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.00%, 5/15/2027<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192000 | Tenet Healthcare Corp.<br> 4.38%, 1/15/2030<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186651 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5873515** |
|  | **INDUSTRIALS — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | BAE Systems PLC<br> 5.12%, 3/26/2029<sup>1,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542000 | Herc Holdings, Inc.<br> 5.50%, 7/15/2027<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Vertiv Group Corp.<br> 4.13%, 11/15/2028<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | XPO, Inc.<br> 6.25%, 6/1/2028<sup>1,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2222331** |
|  | **MATERIALS — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Amrize Finance US LLC<br> 4.60%, 4/7/2027<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006048 |
|  | Glencore Funding LLC |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 5.11% (SOFR Index+75 basis points), 10/1/2026<sup>2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1503268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.34%, 4/4/2027<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015504 |
|  | Rio Tinto Finance USA PLC |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.37%, 3/12/2027<sup>5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 5.10% (SOFR Index+84 basis points), 3/14/2028<sup>2,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536000 | SNF Group SACA<br> 3.13%, 3/15/2027<sup>1,3,5</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6062179** |
|  | **TECHNOLOGY — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Dell International LLC / EMC Corp.<br> 4.75%, 4/1/2028<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521622 |
|  | Hewlett Packard Enterprise Co. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.45%, 9/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.55%, 10/15/2029<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Oracle Corp.<br> 3.25%, 11/15/2027<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982842 |
|  | Synopsys, Inc. |  |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **TECHNOLOGY (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1500000 | 4.55%, 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1509086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 4.65%, 4/1/2028<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516854 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7539986** |
|  | **UTILITIES — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | Consolidated Edison Co. of New York, Inc.<br> 4.85% (SOFR Index+52 basis points), 11/18/2027<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Georgia Power Co.<br> 4.54% (SOFR Index+28 basis points), 9/15/2026<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000133 |
|  | NextEra Energy Capital Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.69%, 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 4.85%, 2/4/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903000 | Public Service Enterprise Group, Inc.<br> 4.90%, 3/15/2030<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923052 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4753235** |
|  | **TOTAL CORPORATE BONDS** |  |
|  | (Cost $97,035,992) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**98105893** |
|  | **MUNICIPAL BONDS — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | New Jersey Transportation Trust Fund Authority<br> 4.61%, 6/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005376 |
|  | **TOTAL MUNICIPAL BONDS** |  |
|  | (Cost $1,000,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1005376** |
|  | **U.S. GOVERNMENT AND AGENCIES — 24.8%** |  |
|  | United States Treasury Note |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | 4.50%, 3/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5015860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | 4.13%, 6/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5011550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | 4.62%, 9/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10084060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | 4.25%, 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10082030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | 4.13%, 9/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10098050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | 4.00%, 2/29/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10089840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | 4.37%, 11/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10217970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | 4.00%, 1/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10110550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | 4.25%, 2/28/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10192190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | 4.00%, 7/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10113280 |
|  | **TOTAL U.S. GOVERNMENT AND AGENCIES** |  |
|  | (Cost $89,725,758) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**91015380** |

---

------

#### AAM/HIMCO Short Duration Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of September 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **SHORT-TERM INVESTMENTS — 13.7%** |  |
| 50124438 | Goldman Sachs Financial Square Government Fund - Institutional Class<br> 3.96%<sup>9</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50124438 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | (Cost $50,124,438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**50124438** |
|  | **TOTAL INVESTMENTS — 98.6%** |  |
|  | (Cost $362,117,360) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**361504104** |
|  | Other Assets in Excess of Liabilities — 1.4% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5232069 |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$366736173** |

---

---

| |
|:---|
| LLC – Limited Liability Company |
| ULC – Unlimited Liability Corporation |
| LP – Limited Partnership |
| PLC – Public Limited Company |
| IO – Interest Only |

---

---

| |
|:---|
| <sup>1</sup>Callable. |
| <sup>2</sup>Floating rate security. |
| <sup>3</sup>Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $109,158,472, which represents 29.8% of total net assets of the Fund. |
| <sup>4</sup>Bank loans generally pay interest at rates which are periodically determined by reference to a base lending rate plus a premium. All loans carry a variable rate of interest. These base lending rates are generally (i) the Prime Rate offered by one or more major United States banks, (ii) the lending rate offered by one or more European banks such as the London Interbank Offered Rate ("LIBOR"), (iii) the Certificate of Deposit rate, or (iv) Secured Overnight Financing Rate ("SOFR"). Bank Loans, while exempt from registration, under the Securities Act of 1933, contain certain restrictions on resale and cannot be sold publicly. Floating rate bank loans often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. |
| <sup>5</sup>Foreign security denominated in U.S. Dollars. |
| <sup>6</sup>Variable rate security. Rate shown is the rate in effect as of September 30, 2025. |
| <sup>7</sup>The value of these securities was determined using significant unobservable inputs. These are reported as Level 3 securities in the Fair Value Hierarchy. |
| <sup>8</sup>Interest-only security. |
| <sup>9</sup>The rate is the annualized seven-day yield at period end. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** INVESTMENT MANAGERS SERIES TRUST

- **b. Investment Company Act file number:** 811-21719

- **c. CIK number of Registrant:** 0001318342

- **d. LEI of Registrant:** 549300ESWU4ZNAH5Y054

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

  - **Street Address 1:** 235 WEST GALENA STREET

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 532123948

  - **Telephone number:** 4142992000

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

- **a. Name of Series:** AAM HIMCO Short Duration Income Fund

- **b. EDGAR series identifier (if any):** S000045893

- **c. LEI of Series:** 549300E0AXI7AMELH667

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

- **a. Date of fiscal year-end:** 2026-06-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $366754020.92

**Total Liabilities:** $368882.24

**Net Assets:** $366385138.68

**Cash Not Reported:** $2653824.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 497.828398211890 | **1-Year:** 17891.327916191637 | **5-Year:** 16528.470004947725 | **10-Year:** 2973.774467505944 | **30-Year:** 15273.691069123807

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

- **3-Month:** 29.210127817816 | **1-Year:** 624.011600687938 | **5-Year:** 1582.156438445242 | **10-Year:** 544.052000896610 | **30-Year:** 174.711863835393

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000142996 | 0.16%                | 0.73%                | 0.32%                |
| Class ID C000142997 | 0.12%                | 0.66%                | 0.36%                |
| Class ID C000142998 | 0.20%                | 0.75%                | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-26801.36               | $-639179.43                                |
| Month 2  | $-6160.15                | $1581616.35                                |
| Month 3  | $24565.83                | $73036.79                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CITIGROUP INC                                | Citigroup, Inc.                                                                           | CUSIP: 172967QB0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1014706.00   | 0.28%             | 2031-05-07      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                | Citigroup Mortgage Loan Trust 2015-RP2                                                    | CUSIP: 17323TAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    496512 | PA      | $489584.88    | 0.13%             | 2053-01-25      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                      | Hyundai Capital America                                                                   | CUSIP: 44891ADS3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004178.00   | 0.27%             | 2027-03-25      | Floating      | 5.12%                 | Yes           |                  2 | On Loan: No      |
| IQVIA INC                                    | IQVIA, Inc.                                                                               | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    510000 | PA      | $509377.80    | 0.14%             | 2026-10-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ING GROEP NV                                 | ING Groep N.V.                                                                            | CUSIP: 456837BP7<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1800000 | PA      | $1808920.80   | 0.49%             | 2029-03-25      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                 | ING Groep N.V.                                                                            | CUSIP: 456837BQ5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1013465.00   | 0.28%             | 2029-03-25      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                    | IQVIA, Inc.                                                                               | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997223.00    | 0.27%             | 2027-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust Series 2025-HE1                                                  | CUSIP: 46593PAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    907784 | PA      | $908685.43    | 0.25%             | 2055-07-20      | Floating      | 6.14%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust 2023-HE3                                                         | CUSIP: 465985AC3<br>LEI: 5299007DSRZLE19EYU93 | Long             | ABS-MBS          | CORP              | US        |   1457939 | PA      | $1470722.09   | 0.40%             | 2054-05-20      | Floating      | 6.89%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                          | JPMorgan Chase & Co.                                                                      | CUSIP: 46647PEN2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2007372.00   | 0.55%             | 2028-10-22      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust Series 2024-HE3                                                  | CUSIP: 46658JAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    493333 | PA      | $495703.96    | 0.14%             | 2055-02-25      | Floating      | 6.39%                 | Yes           |                  2 | On Loan: No      |
| KINDER MORGAN INC                            | Kinder Morgan, Inc.                                                                       | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031797.00   | 0.28%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Commercial Mort               | LCCM 2017-LC26                                                                            | CUSIP: 50190DAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1675000 | PA      | $1646669.05   | 0.45%             | 2050-07-12      | Fixed         | 3.55%                 | Yes           |                  2 | On Loan: No      |
| Life Financial Services Trust                | Life 2021-BMR Mortgage Trust                                                              | CUSIP: 53218CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1037836.80   | 0.28%             | 2038-03-15      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                | MHC Commercial Mortgage Trust 2021-MHC                                                    | CUSIP: 55316VAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    480000 | PA      | $480300.00    | 0.13%             | 2038-04-15      | Floating      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| MASSMUTUAL GLOBAL FUNDIN                     | MassMutual Global Funding II                                                              | CUSIP: 57629TBW6<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1010041.00   | 0.28%             | 2028-03-27      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| MASSMUTUAL GLOBAL FUNDIN                     | MassMutual Global Funding II                                                              | CUSIP: 57629W4S6<br>LEI: 549300K1IE3K7YU6VG29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015757.00   | 0.28%             | 2027-04-09      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Mill City Mortgage Trust                     | Mill City Mortgage Trust 2015-1                                                           | CUSIP: 599809CN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1275000 | PA      | $1244820.75   | 0.34%             | 2056-06-25      | Variable      | 3.79%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                       | Morgan Stanley Bank N.A.                                                                  | CUSIP: 61690DK72<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018164.00   | 0.28%             | 2029-01-12      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| SREIT Trust                                  | SREIT Trust 2021-MFP                                                                      | CUSIP: 78472UAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1174378 | PA      | $1173277.71   | 0.32%             | 2038-11-15      | Floating      | 6.89%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl               | Santander Drive Auto Receivables Trust 2022-5                                             | CUSIP: 80287HAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1009859.00   | 0.28%             | 2030-12-16      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                         | Bank of America Corp.                                                                     | CUSIP: 06051GMK2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018868.00   | 0.28%             | 2029-01-24      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                         | Bank of America Corp.                                                                     | CUSIP: 06051GMN6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000768.00   | 0.27%             | 2029-01-24      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                             | Bank of Montreal                                                                          | CUSIP: 06368MXW9<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1000759.00   | 0.27%             | 2028-09-22      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON                      | Bank of New York Mellon                                                                   | CUSIP: 06405LAH4<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1016546.00   | 0.28%             | 2029-04-20      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                          | Bank of Nova Scotia                                                                       | CUSIP: 06418GAT4<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1000414.00   | 0.27%             | 2028-09-15      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor               | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3                         | CUSIP: 06427DAR4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    502475 | PA      | $497423.58    | 0.14%             | 2050-02-15      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                 | Barclays PLC                                                                              | CUSIP: 06738ECC7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1002297.00   | 0.27%             | 2026-11-02      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                 | Barclays PLC                                                                              | CUSIP: 06738ECX1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1018089.00   | 0.28%             | 2029-02-25      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                     | Benchmark 2019-B12 Mortgage Trust                                                         | CUSIP: 08162FAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $946132.00    | 0.26%             | 2052-08-15      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus               | BRAVO Residential Funding Trust 2021-NQM3                                                 | CUSIP: 105690AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1286842 | PA      | $1191031.47   | 0.33%             | 2060-04-25      | Variable      | 3.91%                 | Yes           |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus               | BRAVO Residential Funding Trust 2021-NQM2                                                 | CUSIP: 10569EAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110907 | PA      | $108397.75    | 0.03%             | 2060-03-25      | Variable      | 1.28%                 | Yes           |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                          | Buckeye Partners LP                                                                       | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    529000 | PA      | $524369.13    | 0.14%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                 | CD 2017-CD6 Mortgage Trust                                                                | CUSIP: 125039AF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $980860.00    | 0.27%             | 2050-11-13      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trus               | CFCRE Commercial Mortgage Trust 2016-C3                                                   | CUSIP: 12531WBC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1146976 | PA      | $994.43       | 0.00%             | 2048-01-10      | Variable      | 1.04%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                 | CSMC 2019-AFC1 Trust                                                                      | CUSIP: 12596XAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    995053 | PA      | $825866.13    | 0.23%             | 2049-07-25      | Variable      | 3.06%                 | Yes           |                  2 | On Loan: No      |
| CVS HEALTH CORP                              | CVS Health Corp.                                                                          | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1165759.58   | 0.32%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                     | Capital One Financial Corp.                                                               | CUSIP: 14040HDE2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1038711.00   | 0.28%             | 2030-02-01      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                      | Carmax Auto Owner Trust 2022-3                                                            | CUSIP: 14318MAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1005330.00   | 0.27%             | 2028-02-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                              | Chevron USA, Inc.                                                                         | CUSIP: 166756BC9<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001179.00   | 0.27%             | 2028-02-26      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                             | COLT 2021-4 Mortgage Loan Trust                                                           | CUSIP: 19688GAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1107890 | PA      | $950184.09    | 0.26%             | 2066-10-25      | Variable      | 1.65%                 | Yes           |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST                | Commonbond Student Loan Trust 2016-B                                                      | CUSIP: 20267UAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12290 | PA      | $11477.77     | 0.00%             | 2040-10-25      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| COMMONBOND STUDENT LOAN TRUST                | Commonbond Student Loan Trust 2018-C-GS                                                   | CUSIP: 20267XAA1<br>LEI: 549300O1CSZVJJTIR319 | Long             | ABS-O            | CORP              | US        |    223718 | PA      | $217383.96    | 0.06%             | 2046-02-25      | Fixed         | 3.87%                 | Yes           |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC                      | Consolidated Edison Co. of New York, Inc.                                                 | CUSIP: 209111GL1<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |    800000 | PA      | $801274.40    | 0.22%             | 2027-11-18      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Tr               | Credit Acceptance Auto Loan Trust 2023-1                                                  | CUSIP: 224927AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    362823 | PA      | $363918.17    | 0.10%             | 2033-03-15      | Fixed         | 6.48%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Tr               | Credit Acceptance Auto Loan Trust 2024-2                                                  | CUSIP: 22536VAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1019649.00   | 0.28%             | 2034-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Crown City CLO                               | Crown City CLO IV                                                                         | CUSIP: 228233AJ1<br>LEI: 549300AGQI0XSPNAK945 | Long             | ABS-CBDO         | CORP              | KY        |    583333 | PA      | $583451.88    | 0.16%             | 2037-04-20      | Floating      | 5.43%                 | Yes           |                  2 | On Loan: No      |
| Crown City CLO                               | Crown City CLO V                                                                          | CUSIP: 22823AAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    583333 | PA      | $583451.47    | 0.16%             | 2037-04-20      | Floating      | 5.48%                 | Yes           |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                      | DCP Midstream Operating LP                                                                | CUSIP: 23311VAJ6<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    149000 | PA      | $152224.66    | 0.04%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg               | DBJPM 2016-C3 Mortgage Trust                                                              | CUSIP: 23312VAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $988011.00    | 0.27%             | 2049-08-10      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                              | Danske Bank A/S                                                                           | CUSIP: 23636ABK6<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    914000 | PA      | $931142.98    | 0.25%             | 2031-03-04      | Variable      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage               | Deephaven Residential Mortgage Trust 2021-4                                               | CUSIP: 24381JAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    409709 | PA      | $363094.26    | 0.10%             | 2066-11-25      | Variable      | 2.24%                 | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage               | Deephaven Residential Mortgage Trust 2021-3                                               | CUSIP: 24381VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    702196 | PA      | $619664.18    | 0.17%             | 2066-08-25      | Variable      | 1.19%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                | Citigroup Mortgage Loan Trust, Inc.                                                       | CUSIP: 17326QAA1<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |     39859 | PA      | $39261.99     | 0.01%             | 2064-09-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC                                | Citigroup, Inc.                                                                           | CUSIP: 17327CAW3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012980.00   | 0.28%             | 2029-03-04      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                       | Morgan Stanley Bank N.A.                                                                  | CUSIP: 61690U8E3<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    665000 | PA      | $674894.54    | 0.18%             | 2028-07-14      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                       | Morgan Stanley Bank N.A.                                                                  | CUSIP: 61690U8F0<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2004464.00   | 0.55%             | 2027-10-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                    | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C32                               | CUSIP: 61691GAS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $992283.00    | 0.27%             | 2049-12-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                               | Morgan Stanley                                                                            | CUSIP: 61747YFK6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1027991.00   | 0.28%             | 2030-01-16      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| NBN CO LTD                                   | NBN Co., Ltd.                                                                             | CUSIP: 62878U2H4<br>LEI: 2549007CRZ2NT7S96A24 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $995423.00    | 0.27%             | 2027-10-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| NMLT Trust                                   | NLT 2021-INV2 Trust                                                                       | CUSIP: 62917JAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1191255 | PA      | $1050584.10   | 0.29%             | 2056-08-25      | Variable      | 1.52%                 | Yes           |                  2 | On Loan: No      |
| NTT FINANCE CORP                             | NTT Finance Corp.                                                                         | CUSIP: 62954WAQ8<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |   1000000 | PA      | $1010018.00   | 0.28%             | 2028-07-16      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| NYC Trust                                    | NYCT Trust 2024-3ELV                                                                      | CUSIP: BHM2S8CV5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1004461.00   | 0.27%             | 2029-08-15      | Floating      | 6.14%                 | Yes           |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                      | National Bank of Canada                                                                   | CUSIP: 63307A3G8<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2002876.00   | 0.55%             | 2027-03-05      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                   | Navient Private Education Refi Loan Trust 2019-C                                          | CUSIP: 63940YAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1901456.00   | 0.52%             | 2068-02-15      | Fixed         | 3.67%                 | Yes           |                  2 | On Loan: No      |
| NETFLIX INC                                  | Netflix, Inc.                                                                             | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502309.00    | 0.14%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                     | Neuberger Berman CLO XVI-S Ltd.                                                           | CUSIP: 64131TAW4<br>LEI: 549300UHUHCR3388B324 | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | PA      | $1799952.12   | 0.49%             | 2039-04-15      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST                | New Jersey Transportation Trust Fund Authority                                            | CUSIP: 64613CEZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005376.00   | 0.27%             | 2026-06-15      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                | New Residential Mortgage Loan Trust 2020-NQM1                                             | CUSIP: 64830VAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     79049 | PA      | $74718.67     | 0.02%             | 2060-01-26      | Variable      | 2.72%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mortgage Loan                | New Residential Mortgage Loan Trust 2020-NQM1                                             | CUSIP: 64830VAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    158098 | PA      | $149250.62    | 0.04%             | 2060-01-26      | Variable      | 2.77%                 | Yes           |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                        | Rio Tinto Finance USA PLC                                                                 | CUSIP: 76720AAQ9<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1006568.00   | 0.27%             | 2027-03-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                        | Rio Tinto Finance USA PLC                                                                 | CUSIP: 76720AAY2<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1008217.00   | 0.28%             | 2028-03-14      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                          | SG Residential Mortgage Trust 2021-1                                                      | CUSIP: 784212AC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    913626 | PA      | $761679.54    | 0.21%             | 2061-07-25      | Variable      | 1.56%                 | Yes           |                  2 | On Loan: No      |
| SMRT                                         | SMRT 2022-MINI                                                                            | CUSIP: 78457JAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1486875.00   | 0.41%             | 2039-01-15      | Floating      | 6.85%                 | Yes           |                  2 | On Loan: No      |
| SNF GROUP SACA                               | SNF Group SACA                                                                            | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    536000 | PA      | $522573.74    | 0.14%             | 2027-03-15      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                     | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                                 | CUSIP: 00774MBN4<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $1015456.00   | 0.28%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                       | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC                | CUSIP: 013092AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $397490.00    | 0.11%             | 2026-03-15      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                            | American Builders & Contractors Supply Co., Inc.                                          | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |    750000 | PA      | $735199.50    | 0.20%             | 2028-01-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| American Express Credit Accoun               | American Express Credit Account Master Trust                                              | CUSIP: 02582JKH2<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |   2687000 | PA      | $2742948.71   | 0.75%             | 2029-04-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                     | Angel Oak Mortgage Trust 2019-5                                                           | CUSIP: 03464KAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    123128 | PA      | $121835.53    | 0.03%             | 2049-10-25      | Variable      | 2.92%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                     | Angel Oak Mortgage Trust 2020-4                                                           | CUSIP: 03464LAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    724446 | PA      | $694562.60    | 0.19%             | 2065-06-25      | Variable      | 3.80%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                     | Angel Oak Mortgage Trust 2020-1                                                           | CUSIP: 03464RAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    108262 | PA      | $105821.63    | 0.03%             | 2059-12-25      | Variable      | 2.77%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                     | Angel Oak Mortgage Trust 2019-6                                                           | CUSIP: 03464VAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56199 | PA      | $55357.48     | 0.02%             | 2059-11-25      | Variable      | 2.93%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                     | Angel Oak Mortgage Trust 2020-5                                                           | CUSIP: 03464WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    210829 | PA      | $203587.39    | 0.06%             | 2065-05-25      | Variable      | 2.04%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                     | Angel Oak Mortgage Trust 2020-R1                                                          | CUSIP: 034651AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1817438.00   | 0.50%             | 2053-04-25      | Variable      | 3.67%                 | Yes           |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                     | Angel Oak Mortgage Trust 2020-3                                                           | CUSIP: 03465LAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1332800 | PA      | $1262005.66   | 0.34%             | 2065-04-25      | Variable      | 5.33%                 | Yes           |                  2 | On Loan: No      |
| Apidos CLO Ltd                               | Apidos CLO XI                                                                             | CUSIP: 03763YBW5<br>LEI: 549300XIP4V1NMCICV93 | Long             | ABS-CBDO         | CORP              | KY        |    789474 | PA      | $789498.38    | 0.22%             | 2034-04-17      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Apidos CLO Ltd                               | Apidos CLO XXXIV                                                                          | CUSIP: 03768WAQ8<br>LEI: 5493001VH1Y9SEPJKZ47 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001109.50   | 0.27%             | 2035-01-20      | Floating      | 6.24%                 | Yes           |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                        | Arroyo Mortgage Trust 2019-2                                                              | CUSIP: 042858AD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1290192 | PA      | $1246151.30   | 0.34%             | 2049-04-25      | Variable      | 4.76%                 | Yes           |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                     | Avolon Holdings Funding Ltd.                                                              | CUSIP: 05401AAW1<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $1010114.00   | 0.28%             | 2028-01-15      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| BFLD Trust                                   | BFLD Trust 2020-EYP                                                                       | CUSIP: 05493AAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $0.00         | 0.00%             | 2035-10-15      | Floating      | 7.22%                 | Yes           |                  3 | On Loan: No      |
| Bank of America Credit Card Tr               | BA Credit Card Trust                                                                      | CUSIP: 05522RDJ4<br>LEI: 5493006DQ60M1CRKHH19 | Long             | ABS-O            | CORP              | US        |   2333000 | PA      | $2372924.63   | 0.65%             | 2029-05-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                              | BAE Systems PLC                                                                           | CUSIP: 05523RAJ6<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1029994.00   | 0.28%             | 2029-03-26      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX 2021-MFM1                                                                              | CUSIP: 05608VAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $700000.00    | 0.19%             | 2034-01-15      | Floating      | 5.76%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2021-SOAR                                                    | CUSIP: 05608WAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1402780 | PA      | $1402780.49   | 0.38%             | 2038-06-15      | Floating      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Trust 2021-LBA                                                                         | CUSIP: 05609BAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $1197000.00   | 0.33%             | 2036-02-15      | Floating      | 6.67%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Trust 2021-LBA                                                                         | CUSIP: 05609BBK4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    948972 | PA      | $946599.29    | 0.26%             | 2036-02-15      | Floating      | 6.67%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2021-XL2                                                     | CUSIP: 05609KAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1048687.50   | 0.29%             | 2038-10-15      | Floating      | 6.51%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX 2021-LBA3 Mortgage Trust                                                               | CUSIP: 05609PAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1494375.00   | 0.41%             | 2036-10-15      | Floating      | 6.66%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2021-VOLT                                                    | CUSIP: 05609VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1211035 | PA      | $1207250.67   | 0.33%             | 2036-09-15      | Floating      | 4.96%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2021-VOLT                                                    | CUSIP: 05609VAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    775062 | PA      | $773609.26    | 0.21%             | 2036-09-15      | Floating      | 6.66%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2022-LP2                                                     | CUSIP: 05610HAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    770000 | PA      | $768316.02    | 0.21%             | 2039-02-15      | Floating      | 6.76%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2024-XL5                                                     | CUSIP: 05612GAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    704510 | PA      | $705611.43    | 0.19%             | 2041-03-15      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| BX Trust                                     | BX Trust 2024-CNYN                                                                        | CUSIP: 05612HAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    768922 | PA      | $769883.44    | 0.21%             | 2041-04-15      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage               | Deephaven Residential Mortgage Trust 2021-3                                               | CUSIP: 24381VAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    695346 | PA      | $615456.62    | 0.17%             | 2066-08-25      | Variable      | 1.55%                 | Yes           |                  2 | On Loan: No      |
| Deephaven Residential Mortgage               | Deephaven Residential Mortgage Trust 2022-1                                               | CUSIP: 24382JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    621596 | PA      | $570525.88    | 0.16%             | 2067-01-25      | Variable      | 2.21%                 | Yes           |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                      | Dell International LLC / EMC Corp.                                                        | CUSIP: 24703TAL0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1521622.50   | 0.42%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                             | Deutsche Bank A.G./New York NY                                                            | CUSIP: 251526CV9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    835000 | PA      | $850188.65    | 0.23%             | 2028-02-08      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                             | Deutsche Bank A.G./New York NY                                                            | CUSIP: 25160PAQ0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $1021621.00   | 0.28%             | 2029-01-10      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                      | Dryden 105 CLO Ltd.                                                                       | CUSIP: 26253QAJ0<br>LEI: 254900M9WDNRF1Z3T669 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1500228.45   | 0.41%             | 2038-04-15      | Floating      | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Eaton Vance CDO Ltd                          | Eaton Vance CLO 2019-1 Ltd.                                                               | CUSIP: 27830XAU0<br>LEI: 5493007R7GEORNX00105 | Long             | ABS-CBDO         | CORP              | KY        |   1333333 | PA      | $1333655.32   | 0.36%             | 2037-07-15      | Floating      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| ENERSYS                                      | EnerSys                                                                                   | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    303000 | PA      | $298756.49    | 0.08%             | 2027-12-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                  | Evergreen Credit Card Trust                                                               | CUSIP: 30023JCS5<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   1248000 | PA      | $1257839.23   | 0.34%             | 2028-10-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                  | Evergreen Credit Card Trust                                                               | CUSIP: 30023JCT3<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |    893000 | PA      | $900895.91    | 0.25%             | 2028-10-15      | Fixed         | 5.64%                 | Yes           |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                  | Evergreen Credit Card Trust                                                               | CUSIP: 30023JCY2<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |    314000 | PA      | $317531.24    | 0.09%             | 2029-05-15      | Fixed         | 5.53%                 | Yes           |                  2 | On Loan: No      |
| Exeter Automobile Receivables                | Exeter Automobile Receivables Trust 2022-2                                                | CUSIP: 30166QAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    821544 | PA      | $821612.56    | 0.22%             | 2028-07-17      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                | Exeter Automobile Receivables Trust 2022-1                                                | CUSIP: 30167JAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    599708 | PA      | $596260.86    | 0.16%             | 2028-06-15      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                  | Extended Stay America Trust 2021-ESH                                                      | CUSIP: 30227FAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2108190 | PA      | $2108190.03   | 0.58%             | 2038-07-15      | Floating      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P               | Freddie Mac Multifamily Structured Pass-Through Certificates                              | CUSIP: 3137BJP80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    109436 | PA      | $8.97         | 0.00%             | 2043-04-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P               | Freddie Mac Multifamily Structured Pass-Through Certificates                              | CUSIP: 3137BLWB0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    186566 | PA      | $16.98        | 0.00%             | 2043-10-25      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P               | Freddie Mac Multifamily Structured Pass-Through Certificates                              | CUSIP: 3137BMTZ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1100000 | PA      | $1608.20      | 0.00%             | 2044-01-25      | Variable      | 1.70%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P               | Freddie Mac Multifamily Structured Pass-Through Certificates                              | CUSIP: 3137FNX88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1721882 | PA      | $119490.00    | 0.03%             | 2046-09-25      | Variable      | 2.09%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T               | Ellington Financial Mortgage Trust 2020-2                                                 | CUSIP: 31573WAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     76021 | PA      | $72152.99     | 0.02%             | 2065-10-25      | Variable      | 1.49%                 | Yes           |                  2 | On Loan: No      |
| Ellington Financial Mortgage T               | Ellington Financial Mortgage Trust 2020-1                                                 | CUSIP: 31574PAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1918667 | PA      | $1893148.73   | 0.52%             | 2065-05-25      | Variable      | 3.15%                 | Yes           |                  2 | On Loan: No      |
| Ellington Financial Mortgage T               | Ellington Financial Mortgage Trust 2017-1                                                 | CUSIP: 31574XAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    229954 | PA      | $202160.59    | 0.06%             | 2066-02-25      | Variable      | 1.11%                 | Yes           |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                 | Ford Credit Auto Owner Trust 2022-C                                                       | CUSIP: 34535AAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    580000 | PA      | $583661.54    | 0.16%             | 2030-03-15      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                     | Ford Motor Credit Co. LLC                                                                 | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1197799.20   | 0.33%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                 | GS Mortgage Securities Trust 2016-GS4                                                     | CUSIP: 36251XAR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1439000 | PA      | $1424035.84   | 0.39%             | 2049-11-10      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                 | GS Mortgage Securities Trust 2017-GS7                                                     | CUSIP: 36254CAV2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1610000 | PA      | $1576603.77   | 0.43%             | 2050-08-10      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                 | GS Mortgage Securities Trust 2018-GS9                                                     | CUSIP: 36255NAS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1064938 | PA      | $1050443.86   | 0.29%             | 2051-03-10      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi               | GM Financial Consumer Automobile Receivables Trust 2023-2                                 | CUSIP: 362583AF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1008039.00   | 0.28%             | 2028-10-16      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                 | GS Mortgage Securities Corp. Trust 2023-SHIP                                              | CUSIP: 36270GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    810000 | PA      | $808270.65    | 0.22%             | 2038-09-10      | Variable      | 4.47%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                | GS Mortgage-Backed Securities Trust 2024-HE2                                              | CUSIP: 36271AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    587459 | PA      | $589088.19    | 0.16%             | 2055-01-25      | Floating      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                       | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XEQ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017079.00   | 0.28%             | 2027-05-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                       | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XEX0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018244.00   | 0.28%             | 2027-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                       | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XFB7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1024608.00   | 0.28%             | 2030-01-07      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                       | General Motors Financial Co., Inc.                                                        | CUSIP: 37045XFF8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001415.00   | 0.27%             | 2028-04-04      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                             | Georgia Power Co.                                                                         | CUSIP: 373334KZ3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000133.00   | 0.27%             | 2026-09-15      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAPITAL                      | GlaxoSmithKline Capital PLC                                                               | CUSIP: 377373AN5<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1002976.00   | 0.27%             | 2027-03-12      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                         | Glencore Funding LLC                                                                      | CUSIP: 378272BR8<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015504.00   | 0.28%             | 2027-04-04      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                         | Glencore Funding LLC                                                                      | CUSIP: 378272BX5<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1503268.50   | 0.41%             | 2026-10-01      | Floating      | 5.11%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                      | Goldman Sachs Group, Inc.                                                                 | CUSIP: 38141GA87<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1046554.00   | 0.29%             | 2030-04-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                      | Goldman Sachs Group, Inc.                                                                 | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1011812.00   | 0.28%             | 2028-04-23      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS BANK USA                       | Goldman Sachs Bank USA/New York NY                                                        | CUSIP: 38151LAG5<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1007710.00   | 0.28%             | 2027-05-21      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38378KY37<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2135444 | PA      | $50189.34     | 0.01%             | 2054-10-16      | Variable      | 0.34%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38378NHQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    225235 | PA      | $328.84       | 0.00%             | 2055-05-16      | Variable      | 0.14%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38378XMD0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    134523 | PA      | $1190.52      | 0.00%             | 2056-04-16      | Variable      | 0.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38380JFE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2803775 | PA      | $77698.21     | 0.02%             | 2060-01-16      | Variable      | 0.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38380JGQ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2152900 | PA      | $75373.02     | 0.02%             | 2059-04-16      | Variable      | 0.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38380JTZ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1930270 | PA      | $62235.77     | 0.02%             | 2060-05-16      | Variable      | 0.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38380JYR3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3301730 | PA      | $140756.06    | 0.04%             | 2060-07-16      | Variable      | 0.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38380ME98<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1049039 | PA      | $56330.26     | 0.02%             | 2060-11-16      | Variable      | 0.76%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                                  | CUSIP: 38380NN47<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  16608215 | PA      | $530237.20    | 0.14%             | 2062-01-16      | Variable      | 0.53%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu               | GreenSky Home Improvement Trust 2024-1                                                    | CUSIP: 39571MAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     95783 | PA      | $96282.18     | 0.03%             | 2059-06-25      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Greensky Home Improvement Issu               | GreenSky Home Improvement Issuer Trust 2025-1                                             | CUSIP: 39571NAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    635512 | PA      | $637700.87    | 0.17%             | 2060-03-25      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| HCA INC                                      | HCA, Inc.                                                                                 | CUSIP: 404119CX5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1006853.00   | 0.27%             | 2028-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                      | HCA, Inc.                                                                                 | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004674.00   | 0.27%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                            | HSBC Holdings PLC                                                                         | CUSIP: 404280EQ8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $2029322.00   | 0.55%             | 2029-03-03      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                            | HSBC Holdings PLC                                                                         | CUSIP: 404280EU9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1007421.00   | 0.27%             | 2031-03-03      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                            | Herc Holdings, Inc.                                                                       | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    542000 | PA      | $540653.13    | 0.15%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| HERO Funding Trust                           | HERO Funding Trust 2015-2                                                                 | CUSIP: 42770UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155762 | PA      | $150787.61    | 0.04%             | 2040-09-20      | Fixed         | 3.99%                 | Yes           |                  2 | On Loan: No      |
| HP ENTERPRISE CO                             | Hewlett Packard Enterprise Co.                                                            | CUSIP: 42824CBR9<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1003955.00   | 0.27%             | 2026-09-25      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                             | Hewlett Packard Enterprise Co.                                                            | CUSIP: 42824CBT5<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1005627.00   | 0.27%             | 2029-10-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                        | Amrize Finance U.S. LLC                                                                   | CUSIP: 43475RAA4<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1006048.00   | 0.27%             | 2027-04-07      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| HPEFS Equipment Trust                        | HPEFS Equipment Trust 2023-2                                                              | CUSIP: 44328UAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1006112.00   | 0.27%             | 2031-01-21      | Fixed         | 6.48%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                      | Hyundai Capital America                                                                   | CUSIP: 44891ADF1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999757.00    | 0.27%             | 2027-09-24      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| SG Capital Partners                          | SG Residential Mortgage Trust 2020-2                                                      | CUSIP: 81882JAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1418858 | PA      | $1295638.70   | 0.35%             | 2065-05-25      | Variable      | 3.19%                 | Yes           |                  2 | On Loan: No      |
| SG Capital Partners                          | SG Residential Mortgage Trust 2020-2                                                      | CUSIP: 81882JAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $1115598.00   | 0.30%             | 2065-05-25      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                        | Sixth Street CLO XIII Ltd.                                                                | CUSIP: 83012XAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1666667 | PA      | $1666609.66   | 0.45%             | 2038-01-21      | Floating      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| Social Professional Loan Progr               | Sofi Professional Loan Program 2018-A LLC                                                 | CUSIP: 83406EAD7<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |    542203 | PA      | $527170.49    | 0.14%             | 2042-02-25      | Fixed         | 3.61%                 | Yes           |                  2 | On Loan: No      |
| Starwood Residential Mortgage                | STAR 2021-1 Trust                                                                         | CUSIP: 85573GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    307972 | PA      | $289313.34    | 0.08%             | 2065-05-25      | Variable      | 1.22%                 | Yes           |                  2 | On Loan: No      |
| Starwood Mortgage Residential                | Starwood Mortgage Residential Trust 2021-4                                                | CUSIP: 85573PAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    619282 | PA      | $551465.36    | 0.15%             | 2056-08-25      | Variable      | 1.16%                 | Yes           |                  2 | On Loan: No      |
| Starwood Mortgage Residential                | Starwood Mortgage Residential Trust 2021-4                                                | CUSIP: 85573PAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    323921 | PA      | $288928.20    | 0.08%             | 2056-08-25      | Variable      | 1.58%                 | Yes           |                  2 | On Loan: No      |
| STATE STREET CORP                            | State Street Corp.                                                                        | CUSIP: 857477CZ4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1005004.00   | 0.27%             | 2028-04-24      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| STORE Master Funding LLC                     | Store Master Funding I-VII                                                                | CUSIP: 86212VAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1136888 | PA      | $1129771.31   | 0.31%             | 2048-10-20      | Fixed         | 4.29%                 | Yes           |                  2 | On Loan: No      |
| SUMITOMO MITSUI TR BK LT                     | Sumitomo Mitsui Trust Bank Ltd.                                                           | CUSIP: 86563VCC1<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |   1000000 | PA      | $1003350.00   | 0.27%             | 2028-09-11      | Floating      | 4.88%                 | Yes           |                  2 | On Loan: No      |
| SYNOPSYS INC                                 | Synopsys, Inc.                                                                            | CUSIP: 871607AA5<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1509085.50   | 0.41%             | 2027-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                 | Synopsys, Inc.                                                                            | CUSIP: 871607AB3<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1516854.00   | 0.41%             | 2028-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                             | T-Mobile USA, Inc.                                                                        | CUSIP: 87264ABR5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1505000 | PA      | $1493155.65   | 0.41%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                         | Taylor Morrison Communities, Inc.                                                         | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152085.15    | 0.04%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                        | Tenet Healthcare Corp.                                                                    | CUSIP: 88033GDR8<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    192000 | PA      | $186651.07    | 0.05%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes                        | Tricon American Homes 2019-SFR1 Trust                                                     | CUSIP: 89612LAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    982316 | PA      | $974480.88    | 0.27%             | 2038-03-17      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Tricon American Homes                        | Tricon American Homes 2020-SFR1                                                           | CUSIP: 89613GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $980910.00    | 0.27%             | 2038-07-17      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                        | TRK 2021-INV1 Trust                                                                       | CUSIP: 89688WAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    526900 | PA      | $477914.52    | 0.13%             | 2056-07-25      | Variable      | 1.56%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG                                 | UBS Group A.G.                                                                            | CUSIP: 902613BL1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1500000 | PA      | $1566781.50   | 0.43%             | 2030-09-13      | Variable      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| UBS AG STAMFORD CT                           | UBS A.G./Stamford CT                                                                      | CUSIP: 90261AAD4<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |   1000000 | PA      | $1008618.00   | 0.28%             | 2028-01-10      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                | UBS Commercial Mortgage Trust 2018-C10                                                    | CUSIP: 90276FAW4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $994542.00    | 0.27%             | 2051-05-15      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                | UBS Commercial Mortgage Trust 2017-C5                                                     | CUSIP: 90276TAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1357638.80   | 0.37%             | 2050-11-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                | UBS Commercial Mortgage Trust 2019-C16                                                    | CUSIP: 90276YAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $964443.00    | 0.26%             | 2052-04-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                | UBS Commercial Mortgage Trust 2019-C18                                                    | CUSIP: 90278PBB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11398417 | PA      | $336241.90    | 0.09%             | 2052-12-15      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                          | United Airlines, Inc.                                                                     | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    480000 | PA      | $478576.80    | 0.13%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CFM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10098050.00  | 2.76%             | 2027-09-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CGP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10089840.00  | 2.75%             | 2028-02-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CHH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $5011550.00   | 1.37%             | 2026-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CHY0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10084060.00  | 2.75%             | 2026-09-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CJN2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10217970.00  | 2.79%             | 2028-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CJW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10110550.00  | 2.76%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CKD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10192190.00  | 2.78%             | 2029-02-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CKE0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10082030.00  | 2.75%             | 2027-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CKH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $5015860.00   | 1.37%             | 2026-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                              | United States Treasury Note                                                               | CUSIP: 91282CLC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10113280.00  | 2.76%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                              | Venture 36 Clo Ltd.                                                                       | CUSIP: 92332LAY5<br>LEI: 549300AZL7IWJJ04HD37 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1504939.50   | 0.41%             | 2032-04-20      | Floating      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                     | Vertiv Group Corp.                                                                        | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244090.25    | 0.07%             | 2028-11-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Vibrant CLO Ltd                              | Vibrant CLO XI Ltd.                                                                       | CUSIP: 92558NAN2<br>LEI: 5493008IYL3HLPE46G85 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2001016.60   | 0.55%             | 2032-07-20      | Floating      | 6.29%                 | Yes           |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                       | VICI Properties LP / VICI Note Co., Inc.                                                  | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $797028.80    | 0.22%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                     | Volkswagen Group of America Finance LLC                                                   | CUSIP: 928668CK6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004691.00   | 0.27%             | 2026-08-14      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| WF-RBS COMMERCIAL MORTGAGE TRU               | WFRBS Commercial Mortgage Trust 2014-C22                                                  | CUSIP: 92890KBE4<br>LEI: 549300FCX3YXSYSLU895 | Long             | ABS-MBS          | CORP              | US        |   6400000 | PA      | $24307.20     | 0.01%             | 2057-09-15      | Variable      | 0.45%                 | No            |                  2 | On Loan: No      |
| WF-RBS COMMERCIAL MORTGAGE TRU               | WFRBS Commercial Mortgage Trust 2014-C21                                                  | CUSIP: 92939FBB4<br>LEI: 5493000F7E2NMQ4HIO61 | Long             | ABS-MBS          | CORP              | US        |   2835164 | PA      | $5522.90      | 0.00%             | 2047-08-15      | Variable      | 0.60%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2016-LC24                                           | CUSIP: 95000HBF8<br>LEI: 5493007OD9MH69ES1S63 | Long             | ABS-MBS          | CORP              | US        |   1169986 | PA      | $1156093.59   | 0.32%             | 2049-10-15      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2016-LC25                                           | CUSIP: 95000JAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1483293.00   | 0.40%             | 2059-12-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2016-NXS6                                           | CUSIP: 95000KBB0<br>LEI: 549300CFP9NBBMZH1008 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1479187.50   | 0.40%             | 2049-11-15      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                        | Wells Fargo & Co.                                                                         | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1034803.00   | 0.28%             | 2031-01-24      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| XPO INC                                      | XPO, Inc.                                                                                 | CUSIP: 98379KAA0<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |    400000 | PA      | $407593.20    | 0.11%             | 2028-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                        | Quikrete Holdings, Inc.                                                                   | CUSIP: BL4989184<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |   1051715 | PA      | $1052251.37   | 0.29%             | 2032-02-10      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I LP BANK LOAN 02/05/2030   / | HILCORP ENERGY I LP BANK LOAN 02/05/2030   /                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    266660 | PA      | $267437.31    | 0.07%             | 2030-02-05      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA BRISTOL LLC                     | Virgin Media Bristol LLC                                                                  | CUSIP: BL3183086<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |    429421 | PA      | $429487.61    | 0.12%             | 2028-01-31      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                     | Vistra Operations Co. LLC                                                                 | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |   1131861 | PA      | $1134730.14   | 0.31%             | 2025-12-31      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SKYMILES IP LTD                              | SkyMiles IP Ltd.                                                                          | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | KY        |    415585 | PA      | $416624.37    | 0.11%             | 2027-10-20      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                         | Aramark Services, Inc.                                                                    | CUSIP: 03852JAT8<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |    613722 | PA      | $615894.46    | 0.17%             | 2030-06-24      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| CHARTER COMMUNICATIONS OPER                  | Charter Communications Operating LLC                                                      | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |   1322473 | PA      | $1322201.46   | 0.36%             | 2030-12-09      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INFORMATIO                     | Iron Mountain Information Management LLC                                                  | CUSIP: 46284NAV1<br>LEI: 5493009M0X1LQXGBWV02 | Long             | LON              | CORP              | US        |    992424 | PA      | $994285.05    | 0.27%             | 2031-01-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| XPO LOGISTICS INC                            | XPO, Inc.                                                                                 | CUSIP: 999999999<br>LEI: 54930096DB9LCLPN7H13 | Long             | LON              | CORP              | US        |    263000 | PA      | $264249.25    | 0.07%             | 2031-02-28      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| SBA SENIOR FINANCE II LLC                    | SBA Senior Finance II LLC                                                                 | CUSIP: 78404XAJ4<br>LEI: 549300PVT2ADFWMYEW87 | Long             | LON              | CORP              | US        |   1244053 | PA      | $1249706.93   | 0.34%             | 2031-01-27      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| ICON LUXEMBOURG SARL                         | ICON Luxembourg Sarl                                                                      | CUSIP: 999999999<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |    146530 | PA      | $146774.38    | 0.04%             | 2028-07-03      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| PRA HEALTH SCIENCES INC                      | PRA Health Sciences, Inc.                                                                 | CUSIP: 999999999<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | US        |     36508 | PA      | $36568.92     | 0.01%             | 2028-07-03      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                        | Genesee & Wyoming, Inc.                                                                   | CUSIP: BL4621068<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |   1041731 | PA      | $1038834.60   | 0.28%             | 2031-04-10      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC                               | 1011778 BC ULC                                                                            | CUSIP: C6901LAM9<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |    985149 | PA      | $983095.32    | 0.27%             | 2030-09-23      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                               | Ryan Specialty LLC                                                                        | CUSIP: 999999999<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |    404940 | PA      | $405573.73    | 0.11%             | 2031-09-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| AADVANTAGE LOYALTY IP                        | AAdvantage Loyalty IP Ltd.                                                                | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    697003 | PA      | $696762.66    | 0.19%             | 2028-04-20      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                          | Medline Borrower LP                                                                       | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    742390 | PA      | $742798.31    | 0.20%             | 2030-10-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Financial Square               | Goldman Sachs Financial Square Government Fund, Class Institutional - Class Institutional | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |  49771141 | PA      | $49771141.29  | 13.58%            |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                        | Wells Fargo & Co.                                                                         | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1019348.00   | 0.28%             | 2029-04-23      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2017-C39                                            | CUSIP: 95000XAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $978201.00    | 0.27%             | 2050-09-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2019-C50                                            | CUSIP: 95001XBB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $485456.00    | 0.13%             | 2052-05-15      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| Park Avenue Institutional Advi               | Park Avenue Institutional Advisers CLO Ltd. 2019-2                                        | CUSIP: 70018AAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2002837.80   | 0.55%             | 2034-10-15      | Floating      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                     | Penske Truck Leasing Co. Lp / PTL Finance Corp.                                           | CUSIP: 709599BU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    940000 | PA      | $947460.78    | 0.26%             | 2026-05-24      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                     | Penske Truck Leasing Co. Lp / PTL Finance Corp.                                           | CUSIP: 709599BW3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1266000 | PA      | $1322083.80   | 0.36%             | 2028-08-01      | Fixed         | 6.05%                 | Yes           |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                       | Philip Morris International, Inc.                                                         | CUSIP: 718172DM8<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1007574.00   | 0.28%             | 2027-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable               | Westlake Automobile Receivables Trust 2021-3                                              | CUSIP: 96043JAN5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1830000 | PA      | $1826144.19   | 0.50%             | 2027-04-15      | Fixed         | 3.42%                 | Yes           |                  2 | On Loan: No      |
| PRICOA GLOBAL FUNDING 1                      | Pricoa Global Funding I                                                                   | CUSIP: 74153WCU1<br>LEI: 635400IBXEBMD9ADYA79 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1007817.00   | 0.28%             | 2027-08-27      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                     | Principal Life Global Funding II                                                          | CUSIP: 74256LFA2<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504910.00    | 0.14%             | 2027-08-19      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                     | Public Service Enterprise Group, Inc.                                                     | CUSIP: 744573BA3<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    903000 | PA      | $923052.02    | 0.25%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                         | RLJ Lodging Trust LP                                                                      | CUSIP: 74965LAA9<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              | CORP              | US        |    703000 | PA      | $695961.56    | 0.19%             | 2026-07-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Regatta VIII Funding Ltd                     | Regatta VIII Funding Ltd.                                                                 | CUSIP: 75888KAJ3<br>LEI: 2549002R0TTC87W9EH67 | Long             | ABS-CBDO         | CORP              | KY        |    666667 | PA      | $665922.20    | 0.18%             | 2037-04-17      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| Residential Mortgage Loan Trus               | Residential Mortgage Loan Trust 2021-1R                                                   | CUSIP: 76090NAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     66883 | PA      | $64455.81     | 0.02%             | 2065-01-25      | Variable      | 1.20%                 | Yes           |                  2 | On Loan: No      |
| Residential Mortgage Loan Trus               | Residential Mortgage Loan Trust 2020-2                                                    | CUSIP: 76123MAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2400615 | PA      | $2341773.53   | 0.64%             | 2060-05-25      | Variable      | 2.91%                 | Yes           |                  2 | On Loan: No      |
| Residential Mortgage Loan Trus               | Residential Mortgage Loan Trust 2020-2                                                    | CUSIP: 76123MAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    833333 | PA      | $799263.01    | 0.22%             | 2060-05-25      | Variable      | 3.56%                 | Yes           |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                  | Balboa Bay Loan Funding 2022-1 Ltd.                                                       | CUSIP: 05766EAJ1<br>LEI: 549300USDGJ8GD3PWY07 | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | PA      | $1800309.60   | 0.49%             | 2037-04-20      | Floating      | 5.38%                 | Yes           |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                         | Bank of America Corp.                                                                     | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1470124.50   | 0.40%             | 2027-07-22      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                         | Bank of America Corp.                                                                     | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1568770.50   | 0.43%             | 2029-09-15      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                     | New York Life Global Funding                                                              | CUSIP: 64953BCA4<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001600.00   | 0.27%             | 2028-07-25      | Floating      | 4.79%                 | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                       | NextEra Energy Capital Holdings, Inc.                                                     | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1010998.00   | 0.28%             | 2027-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                       | NextEra Energy Capital Holdings, Inc.                                                     | CUSIP: 65339KDG2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017778.00   | 0.28%             | 2028-02-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN MUTUAL GLBL                     | Northwestern Mutual Global Funding                                                        | CUSIP: 66815L2V0<br>LEI: 635400LZXFVELZDVP257 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012188.00   | 0.28%             | 2028-03-21      | Fixed         | 4.49%                 | Yes           |                  2 | On Loan: No      |
| Octagon 61 Ltd                               | Octagon 61 Ltd.                                                                           | CUSIP: 675947AJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1750356.83   | 0.48%             | 2038-04-20      | Floating      | 5.38%                 | Yes           |                  1 | On Loan: No      |
| ONEOK INC                                    | ONEOK, Inc.                                                                               | CUSIP: 682680CB7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1001246.00   | 0.27%             | 2027-09-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                  | Oracle Corp.                                                                              | CUSIP: 68389XBN4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982842.00    | 0.27%             | 2027-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PNC BANK NA                                  | PNC Bank N.A.                                                                             | CUSIP: 69353RFW3<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000198.00   | 0.27%             | 2027-01-15      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-21

**Name of Applicant:** INVESTMENT MANAGERS SERIES TRUST

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President