# EDGAR Filing Document

**Accession Number:** 0002042316
**File Stem:** 0000940400-25-014034
**Filing Date:** 2025-12
**Character Count:** 101468
**Document Hash:** cead85b291f797f88d90cd32c4a13297
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-014034.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0000940400-25-014034

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Victory Portfolios IV
- **CENTRAL INDEX KEY:** 0002042316

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24019
- **FILM NUMBER:** 251588284

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** (210) 697-3624

**MAIL ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256

## Series and Classes Contracts Data

### Victory Pioneer CAT Bond Fund (Series ID: S000089751)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000256461 | Class A      | ACBAX           |
| C000256463 | Class R6     | ACBKX           |
| C000256464 | Class Y      | CBYYX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Victory Portfolios IV

- **b. Investment Company Act file number:** 811-24019

- **c. CIK number of Registrant:** 0002042316

- **d. LEI of Registrant:** 25490054DPU07WNNLY79

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

  - **Street Address 1:** 15935 LA CANTERA PARKWAY

  - **City:** SAN ANTONIO

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 210-697-3624

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

- **a. Name of Series:** Victory Pioneer CAT Bond Fund

- **b. EDGAR series identifier (if any):** S000089751

- **c. LEI of Series:** 549300CRZGNF14YZM876

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

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

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1632102079.53

**Total Liabilities:** $69941700.28

**Net Assets:** $1562160379.25

**Delayed Delivery Securities:** $57500000.00

**Cash Not Reported:** $275604586.91

**Currency Risk Metrics (dv01):**

- 

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

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

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

- **3-Month:** -82320.00000000 | **1-Year:** 0.00000000 | **5-Year:** -18694.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256461 | 1.84%                | 2.07%                | 1.01%                |
| Class ID C000256463 | 1.95%                | 2.08%                | 1.02%                |
| Class ID C000256464 | 1.95%                | 2.08%                | 1.02%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2528.30                 | $17640864.97                               |
| Month 2  | $0.10                    | $20709334.68                               |
| Month 3  | $-2139088.94             | $7259501.22                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GOLDMAN SACHS & CO. LLC                   | EUR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $50504.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FIRST COAST RE IV LTD                     | First Coast Re IV Ltd                               | CUSIP: 31969UAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7750000 | PA      | $8120450.00   | 0.52%             | 2028-03-10      | Floating      | 11.34%                | Yes           |                  2 | On Loan: No      |
| FLOODSMART RE LTD                         | FloodSmart Re Ltd                                   | CUSIP: 33975CAN5<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $100000.00    | 0.01%             | 2026-03-11      | Floating      | 26.24%                | Yes           |                  2 | On Loan: No      |
| LONG POINT RE IV LTD                      | Long Point Re IV Ltd                                | CUSIP: 54279PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   4000000 | PA      | $4058000.00   | 0.26%             | 2026-06-01      | Floating      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| TORREY PINES RE LTD                       | Torrey Pines Re Ltd                                 | CUSIP: 89141WAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  10750000 | PA      | $11123025.00  | 0.71%             | 2028-06-07      | Floating      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| MERNA REINSURANCE II LTD                  | Merna Reinsurance II Ltd                            | CUSIP: 59013MAJ1<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |   2325000 | PA      | $2471707.50   | 0.16%             | 2026-07-07      | Floating      | 14.35%                | Yes           |                  2 | On Loan: No      |
| OAKMONT RE 2025                           | OAKMONT RE 2025                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   9612500 | PA      | $9902797.50   | 0.63%             | 2031-03-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| BONANZA RE LTD                            | Bonanza RE Ltd                                      | CUSIP: 09785EAQ4<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |  16000000 | PA      | $16510400.00  | 1.06%             | 2027-12-19      | Floating      | 9.46%                 | Yes           |                  2 | On Loan: No      |
| 3264 RE LTD                               | 3264 re Ltd                                         | CUSIP: 88577CAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7500000 | PA      | $7905750.00   | 0.51%             | 2028-06-08      | Floating      | 11.38%                | Yes           |                  2 | On Loan: No      |
| AQUILA RE LTD 2023-1                      | Aquila Re I Ltd Series 2023-1                       | CUSIP: 03843AAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1400000 | PA      | $1464820.00   | 0.09%             | 2026-06-08      | Floating      | 12.71%                | Yes           |                  2 | On Loan: No      |
| VERAISON RE LTD                           | Veraison Re Ltd                                     | CUSIP: 92335TAE9<br>LEI: 2549007WYB39A966J434 | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $1264375.00   | 0.08%             | 2028-03-08      | Floating      | 8.88%                 | Yes           |                  2 | On Loan: No      |
| MONTOYA RE LTD                            | Montoya Re Ltd                                      | CUSIP: 613752AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5750000 | PA      | $5863850.00   | 0.38%             | 2028-04-07      | Floating      | 9.60%                 | Yes           |                  2 | On Loan: No      |
| GALILEO RE LTD                            | Galileo Re Ltd                                      | CUSIP: 36354TAP7<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |   6700000 | PA      | $6760300.00   | 0.43%             | 2026-01-08      | Floating      | 10.88%                | Yes           |                  2 | On Loan: No      |
| HEXAGON IV RE LTD                         | Hexagon IV RE Ltd                                   | CUSIP: 000000000<br>LEI: 984500B4771ADC9FDE26 | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1728975.00   | 0.11%             | 2028-01-21      | Floating      | 7.66%                 | Yes           |                  2 | On Loan: No      |
| TORREY PINES RE LTD                       | Torrey Pines Re Ltd                                 | CUSIP: 89141WAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   6250000 | PA      | $6445000.00   | 0.41%             | 2028-06-07      | Floating      | 10.38%                | Yes           |                  2 | On Loan: No      |
| FLOODSMART RE LTD                         | FloodSmart Re Ltd                                   | CUSIP: 33975CAM7<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1035900.00   | 0.07%             | 2026-03-11      | Floating      | 21.02%                | Yes           |                  2 | On Loan: No      |
| SANDERS RE II LTD                         | Sanders RE II Ltd                                   | CUSIP: 80001AAA6<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |   8250000 | PA      | $8731800.00   | 0.56%             | 2028-06-07      | Floating      | 10.84%                | Yes           |                  2 | On Loan: No      |
| SILK ROAD RE LTD                          | Silk Road Re Ltd                                    | CUSIP: 000000000<br>LEI: 984500F112D01CD7CD97 | Long             | DBT              | CORP              | HK        |   2000000 | PA      | $2020000.00   | 0.13%             | 2028-01-10      | Floating      | 9.86%                 | Yes           |                  3 | On Loan: No      |
| LOGISTICS RE LTD                          | Logistics Re Ltd                                    | CUSIP: 54143LAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $511300.00    | 0.03%             | 2027-12-21      | Floating      | 9.87%                 | Yes           |                  2 | On Loan: No      |
| LOWER FERRY RE LTD                        | Lower Ferry Re Ltd                                  | CUSIP: 547915AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1900000 | PA      | $1958520.00   | 0.13%             | 2026-07-08      | Floating      | 9.36%                 | Yes           |                  2 | On Loan: No      |
| 3264 RE LTD                               | 3264 re Ltd                                         | CUSIP: 88577CAF8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7000000 | PA      | $7106400.00   | 0.45%             | 2028-02-07      | Floating      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| MERNA REINSURANCE II LTD                  | Merna Reinsurance II Ltd                            | CUSIP: 59013MAK8<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |   1275000 | PA      | $1361317.50   | 0.09%             | 2027-07-07      | Floating      | 11.35%                | Yes           |                  2 | On Loan: No      |
| WINSTON RE LTD                            | Winston RE Ltd                                      | CUSIP: 975660AC5<br>LEI: 2549001Q4VX5Y31QFJ88 | Long             | DBT              | CORP              | BM        |  12500000 | PA      | $13018750.00  | 0.83%             | 2028-02-21      | Floating      | 10.37%                | Yes           |                  2 | On Loan: No      |
| FALKIRK RE 2025                           | FALKIRK RE 2025                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5456000 | PA      | $5500886.78   | 0.35%             | 2031-03-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| RESIDENTIAL REIN 2024                     | Residential Reinsurance 2004 Ltd                    | CUSIP: 76112AAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   8000000 | PA      | $8732000.00   | 0.56%             | 2028-12-06      | Floating      | 17.26%                | Yes           |                  2 | On Loan: No      |
| GATEWAY RE LTD                            | Gateway Re Ltd                                      | CUSIP: 36779CAG1<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    750000 | PA      | $781725.00    | 0.05%             | 2027-07-08      | Floating      | 9.74%                 | Yes           |                  2 | On Loan: No      |
| CHARTWELL RE LTD                          | Chartwell RE Ltd                                    | CUSIP: 16140YAA0<br>LEI: 984500FFT645KFFE6F50 | Long             | DBT              | CORP              | BM        |   8000000 | PA      | $8386400.00   | 0.54%             | 2028-06-07      | Floating      | 9.89%                 | Yes           |                  2 | On Loan: No      |
| TOMONI RE PTE LTD                         | Tomoni Re Pte Ltd                                   | CUSIP: 89009PAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1511550.00   | 0.10%             | 2026-04-07      | Floating      | 6.71%                 | Yes           |                  2 | On Loan: No      |
| CITRUS RE LTD                             | Citrus Re Ltd                                       | CUSIP: 177510AN4<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |   4250000 | PA      | $4504575.00   | 0.29%             | 2027-06-07      | Floating      | 13.07%                | Yes           |                  2 | On Loan: No      |
| PI0056-Harrogate                          | PI0056-Harrogate                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  19875000 | PA      | $20057850.00  | 1.28%             | 2028-12-15      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| GATEWAY RE LTD                            | Gateway Re Ltd                                      | CUSIP: 36779CAF3<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |   5250000 | PA      | $5549250.00   | 0.36%             | 2026-07-08      | Floating      | 14.76%                | Yes           |                  2 | On Loan: No      |
| ATLAS CAPITAL DAC                         | Atlas Capital DAC                                   | CUSIP: 049207AC7<br>LEI: 635400CBPJFGGWD2AH20 | Long             | DBT              | CORP              | IE        |   5000000 | PA      | $5169500.00   | 0.33%             | 2028-06-07      | Floating      | 11.53%                | Yes           |                  2 | On Loan: No      |
| FINCA RE LTD                              | Finca RE Ltd                                        | CUSIP: 31771QAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  10000000 | PA      | $10403000.00  | 0.67%             | 2028-06-07      | Floating      | 9.09%                 | Yes           |                  2 | On Loan: No      |
| INTEGRITY RE III                          | Integrity RE III Ltd                                | CUSIP: 45870GAC0<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |   3750000 | PA      | $3963375.00   | 0.25%             | 2027-06-06      | Floating      | 13.59%                | Yes           |                  2 | On Loan: No      |
| SOLOMON RE LTD                            | Solomon Re Ltd                                      | CUSIP: 83427GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   6800000 | PA      | $6965920.00   | 0.45%             | 2026-06-08      | Floating      | 9.40%                 | Yes           |                  2 | On Loan: No      |
| PHOENIX 3 RE PTE LTD                      | Phoenix 3 RE Pte Ltd                                | CUSIP: 000000000<br>LEI: 254900KZ3HFPS3H5FZ50 | Long             | DBT              | CORP              | SG        |   5000000 | PA      | $5427500.00   | 0.35%             | 2039-01-04      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| RESIDENTIAL RE 21 LTD                     | Residential Reinsurance 2021 Ltd                    | CUSIP: 76114NAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    500000 | PA      | $501250.00    | 0.03%             | 2025-12-08      | Floating      | 9.62%                 | Yes           |                  2 | On Loan: No      |
| ACORN RE LTD                              | Acorn Re Ltd                                        | CUSIP: 00485YAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   9250000 | PA      | $9240750.00   | 0.59%             | 2025-11-07      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| SUTTER RE LTD                             | Sutter Re Ltd                                       | CUSIP: 86944RAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7500000 | PA      | $7696500.00   | 0.49%             | 2026-06-19      | Floating      | 13.62%                | Yes           |                  2 | On Loan: No      |
| WINSTON RE LTD                            | Winston RE Ltd                                      | CUSIP: 975660AB7<br>LEI: 2549001Q4VX5Y31QFJ88 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $537800.00    | 0.03%             | 2027-02-26      | Floating      | 15.56%                | Yes           |                  2 | On Loan: No      |
| RESIDENTIAL REIN 2024                     | Residential Reinsurance 2004 Ltd                    | CUSIP: 76112AAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   9500000 | PA      | $9914200.00   | 0.63%             | 2028-12-06      | Floating      | 10.78%                | Yes           |                  2 | On Loan: No      |
| MERNA REINSURANCE II LTD                  | Merna Reinsurance II Ltd                            | CUSIP: 59013MAL6<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2130600.00   | 0.14%             | 2027-07-07      | Floating      | 12.63%                | Yes           |                  2 | On Loan: No      |
| TOPANGA RE LIMITED                        | Topanga Re Ltd                                      | CUSIP: 89055TAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1650000 | PA      | $1643400.00   | 0.11%             | 2026-01-08      | Floating      | 8.65%                 | Yes           |                  2 | On Loan: No      |
| PI0051-CHELTENHAM RE 2025                 | PI0051-CHELTENHAM RE 2025                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  10000000 | PA      | $9500000.00   | 0.61%             | 2029-05-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| CITRUS RE LTD                             | Citrus Re Ltd                                       | CUSIP: 177510AM6<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |    750000 | PA      | $779925.00    | 0.05%             | 2026-06-07      | Floating      | 12.56%                | Yes           |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                   | International Bank for Reconstruction & Development | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | N/A       |    250000 | PA      | $251750.00    | 0.02%             | 2026-03-31      | Floating      | 9.04%                 | Yes           |                  2 | On Loan: No      |
| KILIMANJARO II RE LTD                     | Kilimanjaro II Re Ltd                               | CUSIP: 49407QAR9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  14750000 | PA      | $15435875.00  | 0.99%             | 2030-07-08      | Floating      | 10.34%                | Yes           |                  2 | On Loan: No      |
| ATLAS CAPITAL DAC                         | Atlas Capital DAC                                   | CUSIP: 049207AB9<br>LEI: 635400CBPJFGGWD2AH20 | Long             | DBT              | CORP              | IE        |   3000000 | PA      | $3343200.00   | 0.21%             | 2027-06-08      | Floating      | 16.49%                | Yes           |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                   | International Bank for Reconstruction & Development | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | N/A       |   2000000 | PA      | $2184000.00   | 0.14%             | 2028-04-24      | Floating      | 17.94%                | Yes           |                  2 | On Loan: No      |
| AQUILA RE LTD 2024-1                      | Aquila Re I Ltd Series 2024-1                       | CUSIP: 037987AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2250000 | PA      | $2343600.00   | 0.15%             | 2027-06-07      | Floating      | 9.31%                 | Yes           |                  2 | On Loan: No      |
| URSA RE LTD                               | Ursa Re Ltd                                         | CUSIP: 90323WAN0<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |   4250000 | PA      | $4439550.00   | 0.28%             | 2026-12-07      | Floating      | 13.14%                | Yes           |                  2 | On Loan: No      |
| RESIDENTIAL RE 21 LTD                     | Residential Reinsurance 2021 Ltd                    | CUSIP: 76114NAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2500000 | PA      | $2519250.00   | 0.16%             | 2025-12-08      | Floating      | 16.04%                | Yes           |                  2 | On Loan: No      |
| ACORN RE LTD                              | Acorn Re Ltd                                        | CUSIP: 00485YAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5750000 | PA      | $5874200.00   | 0.38%             | 2027-11-05      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| MERNA RE COMPANYWIDE                      | Merna Re Companywide Ltd                            | CUSIP: 59013FAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  28250000 | PA      | $30343325.00  | 1.94%             | 2028-07-07      | Floating      | 10.84%                | Yes           |                  2 | On Loan: No      |
| INTEGRITY RE III                          | Integrity RE III Ltd                                | CUSIP: 45870GAD8<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |   4250000 | PA      | $4489700.00   | 0.29%             | 2028-06-06      | Floating      | 13.59%                | Yes           |                  2 | On Loan: No      |
| WINSTON RE LTD                            | Winston RE Ltd                                      | CUSIP: 975660AA9<br>LEI: 2549001Q4VX5Y31QFJ88 | Long             | DBT              | CORP              | BM        |   2250000 | PA      | $2419200.00   | 0.15%             | 2027-02-26      | Floating      | 14.09%                | Yes           |                  2 | On Loan: No      |
| NAKAMA RE PTE LTD                         | Nakama Re Pte Ltd                                   | CUSIP: 62984JAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |   2000000 | PA      | $2019800.00   | 0.13%             | 2030-04-23      | Floating      | 5.93%                 | Yes           |                  2 | On Loan: No      |
| LOWER FERRY RE LTD                        | Lower Ferry Re Ltd                                  | CUSIP: 547915AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2500000 | PA      | $2562250.00   | 0.16%             | 2026-07-08      | Floating      | 8.50%                 | Yes           |                  2 | On Loan: No      |
| MERNA REINSURANCE II LTD                  | Merna Reinsurance II Ltd                            | CUSIP: 59013MAM4<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |   5000000 | PA      | $5238500.00   | 0.34%             | 2027-07-07      | Floating      | 12.37%                | Yes           |                  2 | On Loan: No      |
| SANDERS RE II LTD                         | Sanders RE II Ltd                                   | CUSIP: 80001RAB7<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |  18000000 | PA      | $18703800.00  | 1.20%             | 2029-04-07      | Floating      | 9.25%                 | Yes           |                  2 | On Loan: No      |
| SUTTER RE LTD                             | Sutter Re Ltd                                       | CUSIP: 86944RAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1760000 | PA      | $1799600.00   | 0.12%             | 2026-06-19      | Floating      | 10.62%                | Yes           |                  2 | On Loan: No      |
| OCEANSIDE RE LTD                          | Oceanside RE Ltd                                    | CUSIP: 67550LAA4<br>LEI: 984500636DB8E52F9958 | Long             | DBT              | CORP              | BM        |   3250000 | PA      | $3350425.00   | 0.21%             | 2028-05-15      | Floating      | 9.84%                 | Yes           |                  2 | On Loan: No      |
| KILIMANJARO II RE LTD                     | Kilimanjaro II Re Ltd                               | CUSIP: 49407QAQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  14250000 | PA      | $14790075.00  | 0.95%             | 2030-07-08      | Floating      | 7.85%                 | Yes           |                  2 | On Loan: No      |
| HYPATIA LTD                               | Hypatia Ltd                                         | CUSIP: 44914CAC0<br>LEI: 98450041F85DB4C2C372 | Long             | DBT              | CORP              | BM        |   2100000 | PA      | $2181060.00   | 0.14%             | 2026-04-08      | Floating      | 14.34%                | Yes           |                  2 | On Loan: No      |
| TORREY PINES RE LTD                       | Torrey Pines Re Ltd                                 | CUSIP: 89141WAH5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $523450.00    | 0.03%             | 2027-06-07      | Floating      | 9.93%                 | Yes           |                  2 | On Loan: No      |
| 3264 RE LTD                               | 3264 re Ltd                                         | CUSIP: 88577CAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $554150.00    | 0.04%             | 2027-07-08      | Floating      | 21.87%                | Yes           |                  2 | On Loan: No      |
| ATLAS CAPITAL DAC                         | Atlas Capital DAC                                   | CUSIP: 049207AA1<br>LEI: 635400CBPJFGGWD2AH20 | Long             | DBT              | CORP              | IE        |   2150000 | PA      | $2227830.00   | 0.14%             | 2026-06-05      | Floating      | 11.83%                | Yes           |                  2 | On Loan: No      |
| HERBIE RE LTD                             | Herbie Re Ltd                                       | CUSIP: 42703VAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1549200.00   | 0.10%             | 2028-01-08      | Floating      | 13.74%                | Yes           |                  2 | On Loan: No      |
| PI0058-Jedburgh                           | PI0058-Jedburgh                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  14875000 | PA      | $14990189.04  | 0.96%             | 2028-12-15      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| HEXAGON IV RE LTD                         | Hexagon IV RE Ltd                                   | CUSIP: 000000000<br>LEI: 984500B4771ADC9FDE26 | Long             | DBT              | CORP              | BM        |   6750000 | PA      | $7780387.50   | 0.50%             | 2030-01-22      | Floating      | 10.00%                | Yes           |                  2 | On Loan: No      |
| CITRUS RE LTD                             | Citrus Re Ltd                                       | CUSIP: 177510AP9<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |   4500000 | PA      | $4824900.00   | 0.31%             | 2027-06-07      | Floating      | 14.32%                | Yes           |                  2 | On Loan: No      |
| NATURE COAST RE LTD                       | Nature Coast Re Ltd                                 | CUSIP: 63901CAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3500000 | PA      | $3670100.00   | 0.23%             | 2029-04-10      | Floating      | 13.59%                | Yes           |                  2 | On Loan: No      |
| AQUILA RE LTD 2024-1                      | Aquila Re I Ltd Series 2024-1                       | CUSIP: 037987AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3750000 | PA      | $4003125.00   | 0.26%             | 2027-06-07      | Floating      | 12.23%                | Yes           |                  2 | On Loan: No      |
| MAYFLOWER RE LTD                          | Mayflower Re Ltd                                    | CUSIP: 57839MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1750000 | PA      | $1797425.00   | 0.12%             | 2026-07-08      | Floating      | 8.91%                 | Yes           |                  2 | On Loan: No      |
| CHARTWELL RE LTD                          | Chartwell RE Ltd                                    | CUSIP: 16140YAB8<br>LEI: 984500FFT645KFFE6F50 | Long             | DBT              | CORP              | BM        |   5500000 | PA      | $5713950.00   | 0.37%             | 2028-06-07      | Floating      | 10.89%                | Yes           |                  2 | On Loan: No      |
| INTEGRITY RE III                          | Integrity RE III Ltd                                | CUSIP: 45870GAE6<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |  10000000 | PA      | $10687000.00  | 0.68%             | 2028-06-06      | Floating      | 16.09%                | Yes           |                  2 | On Loan: No      |
| SANDERS RE II LTD                         | Sanders RE II Ltd                                   | CUSIP: 80001RAA9<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |  12575000 | PA      | $12825242.50  | 0.82%             | 2029-04-07      | Floating      | 7.88%                 | Yes           |                  2 | On Loan: No      |
| MANGROVE RE 2025-A                        | MANGROVE RE 2025-A                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  42500000 | PA      | $43358500.00  | 2.78%             | 2031-04-30      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| METROCAT RE LTD                           | MetroCat Re Ltd                                     | CUSIP: 59165HAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2031000.00   | 0.13%             | 2026-05-08      | Floating      | 9.65%                 | Yes           |                  2 | On Loan: No      |
| 3264 RE LTD                               | 3264 re Ltd                                         | CUSIP: 88577CAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $1321125.00   | 0.08%             | 2027-07-08      | Floating      | 10.87%                | Yes           |                  2 | On Loan: No      |
| MATTERHORN RE LTD                         | Matterhorn Re Ltd                                   | CUSIP: 577092AZ2<br>LEI: 549300QRZ77PO1BYWT39 | Long             | DBT              | CORP              | BM        |   2250000 | PA      | $2262600.00   | 0.14%             | 2028-09-22      | Floating      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| BLUEBONNET RE LTD                         | Bluebonnet RE Ltd                                   | CUSIP: 09610NAD4<br>LEI: 2549007DQLA6K2ACFN15 | Long             | DBT              | CORP              | BM        |   2750000 | PA      | $2970275.00   | 0.19%             | 2027-06-07      | Floating      | 15.89%                | Yes           |                  2 | On Loan: No      |
| LOCKE TAVERN RE LTD                       | Locke Tavern Re Ltd                                 | CUSIP: 539694AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1150000 | PA      | $1169665.00   | 0.07%             | 2026-04-09      | Floating      | 8.84%                 | Yes           |                  2 | On Loan: No      |
| 1886 RE LTD                               | 1886 Re Ltd                                         | CUSIP: 68252UAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3500000 | PA      | $3666600.00   | 0.23%             | 2029-07-09      | Floating      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| YOSEMITE RE LTD                           | Yosemite Re Ltd                                     | CUSIP: 98740RAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1061700.00   | 0.07%             | 2028-06-07      | Floating      | 11.13%                | Yes           |                  2 | On Loan: No      |
| HYPATIA LTD                               | Hypatia Ltd                                         | CUSIP: 44914CAD8<br>LEI: 98450041F85DB4C2C372 | Long             | DBT              | CORP              | BM        |   3500000 | PA      | $3668000.00   | 0.23%             | 2028-07-05      | Floating      | 12.34%                | Yes           |                  2 | On Loan: No      |
| MERNA REINSURANCE II LTD                  | Merna Reinsurance II Ltd                            | CUSIP: 59013MAN2<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |   7000000 | PA      | $7313600.00   | 0.47%             | 2028-07-07      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| URSA RE LTD                               | Ursa Re Ltd                                         | CUSIP: 90323WAP5<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |   1750000 | PA      | $1796375.00   | 0.11%             | 2026-12-07      | Floating      | 9.48%                 | Yes           |                  2 | On Loan: No      |
| LIGHTNING RE SERIES 2023                  | Lightning Re Series 2023-1                          | CUSIP: 532242AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  17550000 | PA      | $18253755.00  | 1.17%             | 2026-03-31      | Floating      | 14.88%                | Yes           |                  2 | On Loan: No      |
| MATTERHORN RE LTD                         | Matterhorn Re Ltd                                   | CUSIP: 577092BA6<br>LEI: 549300QRZ77PO1BYWT39 | Long             | DBT              | CORP              | BM        |    750000 | PA      | $753750.00    | 0.05%             | 2028-09-22      | Floating      | 7.59%                 | Yes           |                  2 | On Loan: No      |
| INTEGRITY RE III                          | Integrity RE III Ltd                                | CUSIP: 45870GAF3<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |   1250000 | PA      | $1430375.00   | 0.09%             | 2027-06-06      | Floating      | 29.34%                | Yes           |                  2 | On Loan: No      |
| STABILITAS RE LTD                         | Stabilitas Re Ltd                                   | CUSIP: 85237TAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3900000 | PA      | $4034160.00   | 0.26%             | 2026-06-05      | Floating      | 12.36%                | Yes           |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                   | International Bank for Reconstruction & Development | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | N/A       |   1500000 | PA      | $1586100.00   | 0.10%             | 2028-04-24      | Floating      | 16.44%                | Yes           |                  2 | On Loan: No      |
| GAMBOGE RE 2025                           | GAMBOGE RE 2025                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  18000000 | PA      | $18193649.43  | 1.16%             | 2031-03-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| TORREY PINES RE LTD                       | Torrey Pines Re Ltd                                 | CUSIP: 89141WAJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    325000 | PA      | $338390.00    | 0.02%             | 2027-06-07      | Floating      | 11.00%                | Yes           |                  2 | On Loan: No      |
| LONGLEAF PINE RE LTD                      | Longleaf Pine Re Ltd                                | CUSIP: 54307MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3250000 | PA      | $3645200.00   | 0.23%             | 2027-05-25      | Floating      | 21.81%                | Yes           |                  2 | On Loan: No      |
| BLUE RIDGE RE LTD                         | Blue Ridge Re Ltd                                   | CUSIP: 096003AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $528750.00    | 0.03%             | 2027-01-08      | Floating      | 11.86%                | Yes           |                  2 | On Loan: No      |
| FUCHSIA 2024-1 LONDON BR                  | Fuchsia 2024-1 - London Bridge 2 PCC Ltd            | CUSIP: 541917AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   9000000 | PA      | $9261000.00   | 0.59%             | 2028-04-06      | Floating      | 9.00%                 | Yes           |                  2 | On Loan: No      |
| VITALITY RE XV LTD                        | Vitality Re XV Ltd                                  | CUSIP: 92847CAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $1013800.00   | 0.06%             | 2028-01-07      | Floating      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| DartmouthRe2025                           | DartmouthRe2025                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $698562.13    | 0.04%             | 2027-12-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| GENESEE STREET RE LTD                     | Genesee Street Re Ltd                               | CUSIP: 37173WAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7500000 | PA      | $7617000.00   | 0.49%             | 2028-04-07      | Floating      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| PI0057-IPSWICH RE 2025                    | PI0057-IPSWICH RE 2025                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   4956000 | PA      | $4994757.28   | 0.32%             | 2031-05-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| TORREY PINES RE LTD                       | Torrey Pines Re Ltd                                 | CUSIP: 89141WAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   8125000 | PA      | $8237125.00   | 0.53%             | 2026-06-05      | Floating      | 9.18%                 | Yes           |                  2 | On Loan: No      |
| MAYFLOWER RE LTD                          | Mayflower Re Ltd                                    | CUSIP: 57839MAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7500000 | PA      | $7702500.00   | 0.49%             | 2028-07-07      | Floating      | 7.34%                 | Yes           |                  2 | On Loan: No      |
| CITRUS RE LTD                             | Citrus Re Ltd                                       | CUSIP: 177510AR5<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |   1750000 | PA      | $1813000.00   | 0.12%             | 2028-06-07      | Floating      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| FOUR LAKES RE LTD                         | Four Lakes Re Ltd                                   | CUSIP: 35087TAD0<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $252250.00    | 0.02%             | 2026-01-07      | Floating      | 10.69%                | Yes           |                  2 | On Loan: No      |
| RIVERFRONT RE LTD                         | Riverfront Re Ltd                                   | CUSIP: 76870YAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1603350.00   | 0.10%             | 2029-01-08      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| TITANIA RE LTD                            | Titania RE Ltd                                      | CUSIP: 888329AF6<br>LEI: 5493008E73M6FH2NSB56 | Long             | DBT              | CORP              | BM        |   3750000 | PA      | $3942000.00   | 0.25%             | 2027-11-26      | Floating      | 13.38%                | Yes           |                  2 | On Loan: No      |
| 2001 CAT RE LTD                           | 2001 Cat RE Ltd                                     | CUSIP: 90215BAB3<br>LEI: 5493007NG10QO60NSO35 | Long             | DBT              | CORP              | BM        |   9250000 | PA      | $9710650.00   | 0.62%             | 2027-01-08      | Floating      | 16.93%                | Yes           |                  2 | On Loan: No      |
| LAPIS LONDON BRIDGE 2                     | Lapis London Bridge 2 PCC Ltd                       | CUSIP: 54180CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   2500000 | PA      | $2598500.00   | 0.17%             | 2029-01-09      | Floating      | 11.33%                | Yes           |                  2 | On Loan: No      |
| BLUEBONNET RE LTD                         | Bluebonnet RE Ltd                                   | CUSIP: 09610NAC6<br>LEI: 2549007DQLA6K2ACFN15 | Long             | DBT              | CORP              | BM        |   4000000 | PA      | $4358000.00   | 0.28%             | 2028-06-07      | Floating      | 15.62%                | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association | EUR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $114881.88    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ALAMO RE LTD                              | Alamo Re Ltd                                        | CUSIP: 011395AQ3<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |   3000000 | PA      | $3156000.00   | 0.20%             | 2026-06-07      | Floating      | 15.75%                | Yes           |                  2 | On Loan: No      |
| SANDERS RE III LTD                        | Sanders Re III Ltd                                  | CUSIP: 799925AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1039000.00   | 0.07%             | 2026-06-05      | Floating      | 11.60%                | Yes           |                  2 | On Loan: No      |
| FOUNDATION RE IV LTD                      | Foundation Re IV Ltd                                | CUSIP: 349939AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5250000 | PA      | $5402250.00   | 0.35%             | 2027-01-08      | Floating      | 10.14%                | Yes           |                  2 | On Loan: No      |
| MERION RE 2025-2                          | MERION RE 2025-2                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   4750000 | PA      | $4570450.00   | 0.29%             | 2030-12-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| MERNA REINSURANCE II LTD                  | Merna Reinsurance II Ltd                            | CUSIP: 59013MAP7<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |  13000000 | PA      | $13806000.00  | 0.88%             | 2028-07-07      | Floating      | 12.59%                | Yes           |                  2 | On Loan: No      |
| LION RE DAC                               | Lion RE DAC                                         | CUSIP: 000000000<br>LEI: 635400VAABXOBOWHZR32 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $1160603.29   | 0.07%             | 2029-06-15      | Floating      | 8.04%                 | Yes           |                  2 | On Loan: No      |
| MARLON LTD                                | Marlon Ltd                                          | CUSIP: 571253AA1<br>LEI: 98450044CD0YE4DAFC06 | Long             | DBT              | CORP              | BM        |    750000 | PA      | $802650.00    | 0.05%             | 2027-06-07      | Floating      | 11.20%                | Yes           |                  2 | On Loan: No      |
| MYSTIC RE IV LTD                          | Mystic Re IV Ltd                                    | CUSIP: 62865LAH0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $637500.00    | 0.04%             | 2028-01-10      | Floating      | 17.88%                | Yes           |                  2 | On Loan: No      |
| MAYFLOWER RE LTD                          | Mayflower Re Ltd                                    | CUSIP: 57839MAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2062000.00   | 0.13%             | 2027-07-08      | Floating      | 8.79%                 | Yes           |                  2 | On Loan: No      |
| TITANIA RE LTD                            | Titania RE Ltd                                      | CUSIP: 888329AE9<br>LEI: 5493008E73M6FH2NSB56 | Long             | DBT              | CORP              | BM        |   4250000 | PA      | $4389825.00   | 0.28%             | 2027-11-26      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| TOMONI RE PTE LTD                         | Tomoni Re Pte Ltd                                   | CUSIP: 89009PAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $761775.00    | 0.05%             | 2028-04-05      | Floating      | 7.14%                 | Yes           |                  2 | On Loan: No      |
| PALM RE LTD                               | Palm RE Ltd                                         | CUSIP: 69664FAA6<br>LEI: 984500D3C66DA10DAP11 | Long             | DBT              | CORP              | BM        |  10000000 | PA      | $10694000.00  | 0.68%             | 2027-06-07      | Floating      | 13.54%                | Yes           |                  2 | On Loan: No      |
| CITRUS RE LTD                             | Citrus Re Ltd                                       | CUSIP: 177510AQ7<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |   5350000 | PA      | $5523340.00   | 0.35%             | 2028-06-07      | Floating      | 11.63%                | Yes           |                  2 | On Loan: No      |
| CHARTWELL RE LTD                          | Chartwell RE Ltd                                    | CUSIP: 16140YAC6<br>LEI: 984500FFT645KFFE6F50 | Long             | DBT              | CORP              | BM        |   2500000 | PA      | $2623750.00   | 0.17%             | 2028-06-07      | Floating      | 13.14%                | Yes           |                  2 | On Loan: No      |
| MAYFLOWER RE LTD                          | Mayflower Re Ltd                                    | CUSIP: 57839MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3250000 | PA      | $3369925.00   | 0.22%             | 2026-07-08      | Floating      | 10.38%                | Yes           |                  2 | On Loan: No      |
| URSA RE II LTD                            | Ursa Re II Ltd                                      | CUSIP: 91734PAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   9500000 | PA      | $9677650.00   | 0.62%             | 2028-06-07      | Floating      | 12.88%                | Yes           |                  2 | On Loan: No      |
| PURPLE RE LTD                             | Purple Re Ltd                                       | CUSIP: 74639NAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3600000 | PA      | $3830040.00   | 0.25%             | 2027-06-07      | Floating      | 12.96%                | Yes           |                  2 | On Loan: No      |
| BLUEBONNET RE LTD                         | Bluebonnet RE Ltd                                   | CUSIP: 09610NAB8<br>LEI: 2549007DQLA6K2ACFN15 | Long             | DBT              | CORP              | BM        |   4250000 | PA      | $4552175.00   | 0.29%             | 2028-06-07      | Floating      | 12.37%                | Yes           |                  2 | On Loan: No      |
| MYSTIC RE IV LTD                          | Mystic Re IV Ltd                                    | CUSIP: 62865LAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1750000 | PA      | $1826475.00   | 0.12%             | 2028-01-10      | Floating      | 14.09%                | Yes           |                  2 | On Loan: No      |
| FOUR LAKES RE LTD                         | Four Lakes Re Ltd                                   | CUSIP: 35087TAF5<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |   2750000 | PA      | $2839650.00   | 0.18%             | 2027-01-07      | Floating      | 12.80%                | Yes           |                  2 | On Loan: No      |
| BLUEBONNET RE LTD                         | Bluebonnet RE Ltd                                   | CUSIP: 09610NAA0<br>LEI: 2549007DQLA6K2ACFN15 | Long             | DBT              | CORP              | BM        |   5500000 | PA      | $5804700.00   | 0.37%             | 2028-06-07      | Floating      | 9.62%                 | Yes           |                  2 | On Loan: No      |
| NAKAMA RE PTE LTD                         | Nakama Re Pte Ltd                                   | CUSIP: 62984JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |   8000000 | PA      | $8122400.00   | 0.52%             | 2029-04-04      | Floating      | 6.17%                 | Yes           |                  2 | On Loan: No      |
| SANDERS RE II LTD                         | Sanders RE II Ltd                                   | CUSIP: 80001TAC1<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |   4750000 | PA      | $4915775.00   | 0.31%             | 2028-04-07      | Floating      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| NPI0001-Bongnor Regis                     | NPI0001-Bongnor Regis                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   9500000 | PA      | $9565550.00   | 0.61%             | 2026-01-15      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| KILIMANJARO II RE LTD                     | Kilimanjaro II Re Ltd                               | CUSIP: 49407QAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   6750000 | PA      | $7036200.00   | 0.45%             | 2029-07-09      | Floating      | 10.34%                | Yes           |                  2 | On Loan: No      |
| RESIDENTIAL RE 2023 LTD                   | Residential Reinsurance 2023 Ltd                    | CUSIP: 76090WAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   3125000 | PA      | $3319375.00   | 0.21%             | 2027-12-06      | Floating      | 9.81%                 | Yes           |                  2 | On Loan: No      |
| HERBIE RE LTD                             | Herbie Re Ltd                                       | CUSIP: 42703VAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   6000000 | PA      | $6099000.00   | 0.39%             | 2028-01-07      | Floating      | 10.79%                | Yes           |                  2 | On Loan: No      |
| OCELOT RE LTD                             | Ocelot Re Ltd                                       | CUSIP: 675951AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   9750000 | PA      | $9991800.00   | 0.64%             | 2029-02-26      | Floating      | 8.34%                 | Yes           |                  2 | On Loan: No      |
| ALAMO RE LTD                              | Alamo Re Ltd                                        | CUSIP: 011395AJ9<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |   7000000 | PA      | $7338800.00   | 0.47%             | 2026-06-07      | Floating      | 12.95%                | Yes           |                  2 | On Loan: No      |
| PI0059-Kettering                          | PI0059-Kettering                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  15000000 | PA      | $15034500.00  | 0.96%             | 2029-03-31      | Floating      | 0.01%                 | Yes           |                  3 | On Loan: No      |
| TITANIA RE LTD                            | Titania RE Ltd                                      | CUSIP: 888329AD1<br>LEI: 5493008E73M6FH2NSB56 | Long             | DBT              | CORP              | BM        |   4750000 | PA      | $4940475.00   | 0.32%             | 2026-02-27      | Floating      | 17.41%                | Yes           |                  2 | On Loan: No      |
| PUERTO RICO PARAMETRIC                    | Puerto Rico Parametric Re Ltd                       | CUSIP: 74528TAA2<br>LEI: 254900GJDFHQXGUCMO94 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $532500.00    | 0.03%             | 2027-06-07      | Floating      | 12.84%                | Yes           |                  2 | On Loan: No      |
| INTEGRITY RE LTD                          | Integrity Re Ltd                                    | CUSIP: 45833UAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1692450.00   | 0.11%             | 2026-06-06      | Floating      | 26.67%                | Yes           |                  2 | On Loan: No      |
| FOUR LAKES RE LTD                         | Four Lakes Re Ltd                                   | CUSIP: 35087TAG3<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |   9120000 | PA      | $9277776.00   | 0.59%             | 2028-01-07      | Floating      | 9.38%                 | Yes           |                  2 | On Loan: No      |
| ORANGE CAPITAL RE DAC                     | Orange Capital RE DAC                               | CUSIP: 000000000<br>LEI: 635400PXTZAPQFEPH515 | Long             | DBT              | CORP              | IE        |    500000 | PA      | $595401.36    | 0.04%             | 2029-01-17      | Floating      | 8.03%                 | Yes           |                  2 | On Loan: No      |
| INTEGRITY RE III                          | Integrity RE III Ltd                                | CUSIP: 45870GAA4<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |   3500000 | PA      | $3664150.00   | 0.23%             | 2027-06-06      | Floating      | 11.84%                | Yes           |                  2 | On Loan: No      |
| FOUR LAKES RE LTD                         | Four Lakes Re Ltd                                   | CUSIP: 35087TAE8<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |   3250000 | PA      | $3334175.00   | 0.21%             | 2027-01-07      | Floating      | 9.64%                 | Yes           |                  2 | On Loan: No      |
| SANDERS RE II LTD                         | Sanders RE II Ltd                                   | CUSIP: 80001TAA5<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |   2250000 | PA      | $2317950.00   | 0.15%             | 2028-04-07      | Floating      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| MYSTIC RE IV LTD                          | Mystic Re IV Ltd                                    | CUSIP: 62865LAF4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5000000 | PA      | $5110500.00   | 0.33%             | 2028-01-10      | Floating      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| GATEWAY RE LTD                            | Gateway Re Ltd                                      | CUSIP: 36779CAT3<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |   1750000 | PA      | $1743875.00   | 0.11%             | 2025-12-22      | Floating      | 3.84%                 | Yes           |                  2 | On Loan: No      |
| SANDERS RE III LTD                        | Sanders Re III Ltd                                  | CUSIP: 80000XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1514850.00   | 0.10%             | 2026-04-07      | Floating      | 7.22%                 | Yes           |                  2 | On Loan: No      |
| Mangrove Risk Solutions Bermuda Ltd.      | Mangrove Risk Solutions Bermuda Ltd.                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5800050 | PA      | $5892270.80   | 0.38%             | 2031-05-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| KILIMANJARO II RE LTD                     | Kilimanjaro II Re Ltd                               | CUSIP: 49407QAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  10000000 | PA      | $10323000.00  | 0.66%             | 2029-07-09      | Floating      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| MERNA RE ENTERPRISE                       | Merna Re Enterprise Ltd                             | CUSIP: 59013HAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  16500000 | PA      | $17169900.00  | 1.10%             | 2028-07-07      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| MONTOYA RE LTD                            | Montoya Re Ltd                                      | CUSIP: 613752AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    500000 | PA      | $524950.00    | 0.03%             | 2026-04-07      | Floating      | 17.27%                | Yes           |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                   | International Bank for Reconstruction & Development | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | N/A       |    500000 | PA      | $511000.00    | 0.03%             | 2028-04-24      | Floating      | 15.49%                | Yes           |                  2 | On Loan: No      |
| PURPLE RE LTD                             | Purple Re Ltd                                       | CUSIP: 74639NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3250000 | PA      | $3435250.00   | 0.22%             | 2026-04-24      | Floating      | 17.00%                | Yes           |                  2 | On Loan: No      |
| ACORN RE LTD                              | Acorn Re Ltd                                        | CUSIP: 00485YAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  14750000 | PA      | $14749339.20  | 0.94%             | 2028-11-07      | Floating      | 6.19%                 | Yes           |                  2 | On Loan: No      |
| URSA RE LTD                               | Ursa Re Ltd                                         | CUSIP: 90323WAL4<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1001500.00   | 0.06%             | 2025-12-06      | Floating      | 9.38%                 | Yes           |                  2 | On Loan: No      |
| GATEWAY RE LTD                            | Gateway Re Ltd                                      | CUSIP: 36779CAC0<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $520250.00    | 0.03%             | 2026-02-24      | Floating      | 17.78%                | Yes           |                  2 | On Loan: No      |
| TITANIA RE LTD                            | Titania RE Ltd                                      | CUSIP: 888329AC3<br>LEI: 5493008E73M6FH2NSB56 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1038900.00   | 0.07%             | 2026-02-27      | Floating      | 17.01%                | Yes           |                  2 | On Loan: No      |
| INTEGRITY RE III                          | Integrity RE III Ltd                                | CUSIP: 45870GAB2<br>LEI: 254900VWHVNG2WMBWC74 | Long             | DBT              | CORP              | BM        |   5500000 | PA      | $5759600.00   | 0.37%             | 2028-06-06      | Floating      | 11.85%                | Yes           |                  2 | On Loan: No      |
| MYSTIC RE IV LTD                          | Mystic Re IV Ltd                                    | CUSIP: 62865LAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  19950000 | PA      | $21206850.00  | 1.36%             | 2027-01-08      | Floating      | 15.88%                | Yes           |                  2 | On Loan: No      |
| MATTERHORN RE LTD                         | Matterhorn Re Ltd                                   | CUSIP: 577092AN9<br>LEI: 549300QRZ77PO1BYWT39 | Long             | DBT              | CORP              | BM        |   2500000 | PA      | $2506250.00   | 0.16%             | 2025-12-08      | Floating      | 10.00%                | Yes           |                  2 | On Loan: No      |
| CHARLES RIVER RE LTD                      | Charles River Re Ltd                                | CUSIP: 159873AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1060800.00   | 0.07%             | 2027-05-10      | Floating      | 11.50%                | Yes           |                  2 | On Loan: No      |
| NORTHSHORE RE II LTD                      | Northshore Re II Ltd                                | CUSIP: 666842AF6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  19750000 | PA      | $20139075.00  | 1.29%             | 2028-04-07      | Floating      | 8.84%                 | Yes           |                  2 | On Loan: No      |
| ATELA RE LTD                              | Atela Re Ltd                                        | CUSIP: 04681FAA2<br>LEI: 2549006VU6TMK735XN50 | Long             | DBT              | CORP              | BM        |   3000000 | PA      | $3312300.00   | 0.21%             | 2027-05-09      | Floating      | 18.13%                | Yes           |                  2 | On Loan: No      |
| Mangrove 2025-E                           | Mangrove 2025-E                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   9865000 | PA      | $10020867.00  | 0.64%             | 2030-05-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| FIRST COAST RE IV LTD                     | First Coast Re IV Ltd                               | CUSIP: 31969UAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7000000 | PA      | $7270900.00   | 0.47%             | 2028-03-10      | Floating      | 10.35%                | Yes           |                  2 | On Loan: No      |
| OCELOT RE LTD                             | Ocelot Re Ltd                                       | CUSIP: 675951AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   8000000 | PA      | $8237600.00   | 0.53%             | 2027-01-07      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| COMMONWEALTH RE LTD                       | Commonwealth RE Ltd                                 | CUSIP: 203235AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  10000000 | PA      | $10268000.00  | 0.66%             | 2028-07-10      | Floating      | 7.64%                 | Yes           |                  2 | On Loan: No      |
| ADARE RE 2025-2                           | ADARE RE 2025-2                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5030000 | PA      | $5007365.00   | 0.32%             | 2031-09-30      | Floating      | 0.01%                 | Yes           |                  3 | On Loan: No      |
| PALM RE LTD                               | Palm RE Ltd                                         | CUSIP: 69664FAB4<br>LEI: 984500D3C66DA10DAP11 | Long             | DBT              | CORP              | BM        |  12750000 | PA      | $13513725.00  | 0.87%             | 2028-06-07      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| VITALITY RE XIII LTD                      | Vitality Re XIII Ltd                                | CUSIP: 92849MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    500000 | PA      | $500200.00    | 0.03%             | 2026-01-06      | Floating      | 5.87%                 | Yes           |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                   | International Bank for Reconstruction & Development | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | N/A       |   1500000 | PA      | $1540950.00   | 0.10%             | 2028-04-24      | Floating      | 8.49%                 | Yes           |                  2 | On Loan: No      |
| HERBIE RE LTD                             | Herbie Re Ltd                                       | CUSIP: 42703VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2145200.00   | 0.14%             | 2029-01-08      | Floating      | 14.59%                | Yes           |                  2 | On Loan: No      |
| RAMBLE RE LTD                             | Ramble RE Ltd                                       | CUSIP: 751443AA0<br>LEI: 254900X8K5BTBY971F92 | Long             | DBT              | CORP              | BM        |   5000000 | PA      | $5026500.00   | 0.32%             | 2027-03-05      | Floating      | 10.32%                | Yes           |                  2 | On Loan: No      |
| SANDERS RE II LTD                         | Sanders RE II Ltd                                   | CUSIP: 80001TAD9<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |   5250000 | PA      | $5563425.00   | 0.36%             | 2030-04-08      | Floating      | 8.59%                 | Yes           |                  2 | On Loan: No      |
| WINDMILL III RE DAC                       | Windmill III Re DAC                                 | CUSIP: 000000000<br>LEI: 635400PB5AXUZ6R7CT68 | Long             | DBT              | CORP              | IE        |    750000 | PA      | $882209.49    | 0.06%             | 2028-07-05      | Floating      | 7.21%                 | Yes           |                  2 | On Loan: No      |
| RESIDENTIAL REINSUR 2025                  | Residential Reinsurance 2025 Ltd                    | CUSIP: 76091JAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  30000000 | PA      | $29995857.00  | 1.92%             | 2029-12-06      | Floating      | 7.09%                 | Yes           |                  2 | On Loan: No      |
| ALAMO RE LTD                              | Alamo Re Ltd                                        | CUSIP: 011395AN0<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1588050.00   | 0.10%             | 2027-06-07      | Floating      | 10.41%                | Yes           |                  2 | On Loan: No      |
| ALAMO RE LTD                              | Alamo Re Ltd                                        | CUSIP: 011395AP5<br>LEI: 5493003E22VRD25G0S03 | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1611600.00   | 0.10%             | 2027-06-07      | Floating      | 12.30%                | Yes           |                  2 | On Loan: No      |
| SAKURA RE LTD                             | Sakura RE Ltd                                       | CUSIP: 79381MAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2750000 | PA      | $2756050.00   | 0.18%             | 2029-04-05      | Floating      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| 123 LIGHTS RE LTD                         | 123 Lights Re Ltd                                   | CUSIP: 68302QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $998500.00    | 0.06%             | 2028-09-14      | Floating      | 14.87%                | Yes           |                  2 | On Loan: No      |
| FIRST COAST RE IV LTD                     | First Coast Re IV Ltd                               | CUSIP: 31969UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    600000 | PA      | $620700.00    | 0.04%             | 2026-04-07      | Floating      | 9.94%                 | Yes           |                  2 | On Loan: No      |
| MANGROVE RE 2025-C2                       | MANGROVE RE 2025-C2                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5799600 | PA      | $5894133.48   | 0.38%             | 2031-05-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| PURPLE RE LTD                             | Purple Re Ltd                                       | CUSIP: 74639NAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   6500000 | PA      | $6910800.00   | 0.44%             | 2028-06-07      | Floating      | 11.09%                | Yes           |                  2 | On Loan: No      |
| GALILEO RE LTD                            | Galileo Re Ltd                                      | CUSIP: 36354TAN2<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |   7050000 | PA      | $7396860.00   | 0.47%             | 2028-01-07      | Floating      | 10.88%                | Yes           |                  2 | On Loan: No      |
| SANDERS RE III LTD                        | Sanders Re III Ltd                                  | CUSIP: 799927AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7750000 | PA      | $8194850.00   | 0.52%             | 2028-04-07      | Floating      | 9.44%                 | Yes           |                  2 | On Loan: No      |
| QUEEN STREET 2023 RE DAC                  | Queen Street 2023 RE DAC                            | CUSIP: 747977AA4<br>LEI: 635400VHHVVMXL5BJI05 | Long             | DBT              | CORP              | IE        |   6950000 | PA      | $6984750.00   | 0.45%             | 2025-12-08      | Floating      | 11.33%                | Yes           |                  2 | On Loan: No      |
| LION RE DAC                               | Lion RE DAC                                         | CUSIP: 000000000<br>LEI: 635400VAABXOBOWHZR32 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $1155301.10   | 0.07%             | 2029-06-15      | Floating      | 7.54%                 | Yes           |                  2 | On Loan: No      |
| NAKAMA RE LTD                             | Nakama Re Ltd                                       | CUSIP: 62983QAN3<br>LEI: 2549003ZFVVVVKMRJ633 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $253600.00    | 0.02%             | 2028-05-09      | Floating      | 6.30%                 | Yes           |                  2 | On Loan: No      |
| SANDERS RE II LTD                         | Sanders RE II Ltd                                   | CUSIP: 80001TAB3<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1576650.00   | 0.10%             | 2030-04-08      | Floating      | 8.10%                 | Yes           |                  2 | On Loan: No      |
| GATEWAY RE LTD                            | Gateway Re Ltd                                      | CUSIP: 36779CAP1<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |   5750000 | PA      | $5721250.00   | 0.37%             | 2025-12-22      | Floating      | 3.90%                 | Yes           |                  2 | On Loan: No      |
| RESIDENTIAL REINSUR 2025                  | Residential Reinsurance 2025 Ltd                    | CUSIP: 76091JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  27500000 | PA      | $27496911.75  | 1.76%             | 2029-12-06      | Floating      | 14.09%                | Yes           |                  2 | On Loan: No      |
| VITALITY RE XV LTD                        | Vitality Re XV Ltd                                  | CUSIP: 92847CAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    500000 | PA      | $511950.00    | 0.03%             | 2028-01-07      | Floating      | 7.37%                 | Yes           |                  2 | On Loan: No      |
| KILIMANJARO II RE LTD                     | Kilimanjaro II Re Ltd                               | CUSIP: 49407QAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   4500000 | PA      | $4737150.00   | 0.30%             | 2028-06-30      | Floating      | 11.13%                | Yes           |                  2 | On Loan: No      |
| PURPLE RE LTD                             | Purple Re Ltd                                       | CUSIP: 74639NAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5500000 | PA      | $5763450.00   | 0.37%             | 2028-06-07      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| HERBIE RE LTD                             | Herbie Re Ltd                                       | CUSIP: 42703VAJ2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5000000 | PA      | $5190500.00   | 0.33%             | 2029-01-08      | Floating      | 11.09%                | Yes           |                  2 | On Loan: No      |
| FLOODSMART RE LTD                         | FloodSmart Re Ltd                                   | CUSIP: 33975CAQ8<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |   4500000 | PA      | $4730400.00   | 0.30%             | 2027-03-12      | Floating      | 21.47%                | Yes           |                  2 | On Loan: No      |
| ARMOR RE II LTD                           | Armor RE II Ltd                                     | CUSIP: 04227FAE5<br>LEI: 549300X573KDIHEJL317 | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2171000.00   | 0.14%             | 2027-05-07      | Floating      | 14.08%                | Yes           |                  2 | On Loan: No      |
| VITALITY RE XVI LTD                       | Vitality Re XVI Ltd                                 | CUSIP: 92849FAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    750000 | PA      | $750150.00    | 0.05%             | 2029-01-08      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| WHITE HERON RE 2025                       | WHITE HERON RE 2025                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   8200000 | PA      | $8278941.49   | 0.53%             | 2031-05-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| FOUR LAKES RE LTD                         | Four Lakes Re Ltd                                   | CUSIP: 35087TAH1<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |   8000000 | PA      | $8269600.00   | 0.53%             | 2028-01-07      | Floating      | 12.13%                | Yes           |                  2 | On Loan: No      |
| KENDALL RE LTD                            | Kendall Re Ltd                                      | CUSIP: 48878QAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2500000 | PA      | $2629000.00   | 0.17%             | 2027-04-30      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| MMIFS RE LTD                              | MMIFS Re Ltd                                        | CUSIP: 000000000<br>LEI: 254900C86PCL10JRTQ88 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $715197.32    | 0.05%             | 2028-01-10      | Floating      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| HESTIA RE LTD                             | Hestia Re Ltd                                       | CUSIP: 42815KAD4<br>LEI: 549300QRKQ1ZKOXEMZ38 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1040500.00   | 0.07%             | 2028-03-13      | Floating      | 12.09%                | Yes           |                  2 | On Loan: No      |
| BLACK KITE RE LTD                         | Black Kite Re Ltd                                   | CUSIP: 092168AB9<br>LEI: N/A                  | Long             | DBT              | CORP              | HK        |   1000000 | PA      | $1012800.00   | 0.06%             | 2028-05-08      | Floating      | 11.84%                | Yes           |                  2 | On Loan: No      |
| KILIMANJARO II RE LTD                     | Kilimanjaro II Re Ltd                               | CUSIP: 49407QAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   8250000 | PA      | $8626200.00   | 0.55%             | 2028-06-30      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| URSA RE LTD                               | Ursa Re Ltd                                         | CUSIP: 90323WAQ3<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |   5000000 | PA      | $5206500.00   | 0.33%             | 2026-12-07      | Floating      | 12.62%                | Yes           |                  2 | On Loan: No      |
| VERAISON RE LTD                           | Veraison Re Ltd                                     | CUSIP: 92335TAD1<br>LEI: 2549007WYB39A966J434 | Long             | DBT              | CORP              | BM        |  10500000 | PA      | $10619700.00  | 0.68%             | 2028-03-08      | Floating      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| BALDWIN RE LTD                            | Baldwin Re Ltd                                      | CUSIP: 05826BAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   6500000 | PA      | $6712550.00   | 0.43%             | 2029-07-09      | Floating      | 7.63%                 | Yes           |                  2 | On Loan: No      |
| ARMOR RE II LTD                           | Armor RE II Ltd                                     | CUSIP: 04227FAF2<br>LEI: 549300X573KDIHEJL317 | Long             | DBT              | CORP              | BM        |   9250000 | PA      | $9858650.00   | 0.63%             | 2028-01-07      | Floating      | 12.38%                | Yes           |                  2 | On Loan: No      |
| AILSA RE 2025                             | AILSA RE 2025                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   4930000 | PA      | $5094547.83   | 0.33%             | 2031-05-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| INTEGRITY RE LTD                          | Integrity Re Ltd                                    | CUSIP: 45833UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3000000 | PA      | $3195000.00   | 0.20%             | 2026-06-06      | Floating      | 17.19%                | Yes           |                  2 | On Loan: No      |
| AQUILA RE LTD 2023-1                      | Aquila Re I Ltd Series 2023-1                       | CUSIP: 03843AAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    400000 | PA      | $414800.00    | 0.03%             | 2026-06-08      | Floating      | 11.13%                | Yes           |                  2 | On Loan: No      |
| ASHERA RE                                 | Ashera Re                                           | CUSIP: 04401RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5750000 | PA      | $5955850.00   | 0.38%             | 2027-04-07      | Floating      | 9.07%                 | Yes           |                  2 | On Loan: No      |
| NATURE COAST RE LTD                       | Nature Coast Re Ltd                                 | CUSIP: 63901CAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   8750000 | PA      | $9548000.00   | 0.61%             | 2029-01-16      | Floating      | 15.39%                | Yes           |                  2 | On Loan: No      |
| VITALITY RE XVI LTD                       | Vitality Re XVI Ltd                                 | CUSIP: 92849FAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    750000 | PA      | $750375.00    | 0.05%             | 2029-01-08      | Floating      | 6.11%                 | Yes           |                  2 | On Loan: No      |
| HERBIE RE LTD                             | Herbie Re Ltd                                       | CUSIP: 42703VAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1548450.00   | 0.10%             | 2027-01-08      | Floating      | 26.84%                | Yes           |                  2 | On Loan: No      |
| MERNA REINSURANCE II LTD                  | Merna Reinsurance II Ltd                            | CUSIP: 59013MAH5<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |    350000 | PA      | $367115.00    | 0.02%             | 2026-07-07      | Floating      | 12.26%                | Yes           |                  2 | On Loan: No      |
| KENDALL RE LTD                            | Kendall Re Ltd                                      | CUSIP: 48878QAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  10000000 | PA      | $10514000.00  | 0.67%             | 2027-04-30      | Floating      | 11.62%                | Yes           |                  2 | On Loan: No      |
| HESTIA RE LTD                             | Hestia Re Ltd                                       | CUSIP: 42815KAC6<br>LEI: 549300QRKQ1ZKOXEMZ38 | Long             | DBT              | CORP              | BM        |   2500000 | PA      | $2559750.00   | 0.16%             | 2028-03-13      | Floating      | 10.59%                | Yes           |                  2 | On Loan: No      |
| AQUILA RE LTD 2023-1                      | Aquila Re I Ltd Series 2023-1                       | CUSIP: 03843AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $256425.00    | 0.02%             | 2026-06-08      | Floating      | 9.21%                 | Yes           |                  2 | On Loan: No      |
| VERAISON RE LTD                           | Veraison Re Ltd                                     | CUSIP: 92335TAC3<br>LEI: 2549007WYB39A966J434 | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2056600.00   | 0.13%             | 2027-03-08      | Floating      | 8.62%                 | Yes           |                  2 | On Loan: No      |
| LIONGATE RE DAC                           | Liongate Re DAC                                     | CUSIP: 53625HAA4<br>LEI: 635400XWDC4YQUGGO620 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $1001500.00   | 0.06%             | 2028-04-25      | Floating      | 7.77%                 | Yes           |                  2 | On Loan: No      |
| AZZURRO RE II DAC                         | Azzurro Re II DAC                                   | CUSIP: 000000000<br>LEI: 635400NZWVDIAI82JP08 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $1173743.50   | 0.08%             | 2028-04-20      | Floating      | 8.39%                 | Yes           |                  2 | On Loan: No      |
| HIGH POINT RE LTD                         | High Point Re Ltd                                   | CUSIP: 429932AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1537500.00   | 0.10%             | 2027-01-06      | Floating      | 9.52%                 | Yes           |                  2 | On Loan: No      |
| URSA RE LTD                               | Ursa Re Ltd                                         | CUSIP: 90323WAR1<br>LEI: 549300O8X4DWGDJZ6W59 | Long             | DBT              | CORP              | BM        |  10750000 | PA      | $10914475.00  | 0.70%             | 2028-02-22      | Floating      | 11.38%                | Yes           |                  2 | On Loan: No      |
| BALDWIN RE LTD                            | Baldwin Re Ltd                                      | CUSIP: 05826BAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    750000 | PA      | $775500.00    | 0.05%             | 2027-07-07      | Floating      | 8.93%                 | Yes           |                  2 | On Loan: No      |
| MONA LISA RE LTD                          | Mona Lisa Re Ltd                                    | CUSIP: 608800AH1<br>LEI: 549300R6SO6XBFDC7M25 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $548200.00    | 0.04%             | 2027-06-25      | Floating      | 13.63%                | Yes           |                  2 | On Loan: No      |
| CITRUS RE LTD                             | Citrus Re Ltd                                       | CUSIP: 177510AL8<br>LEI: 549300VWWT5SE805NK88 | Long             | DBT              | CORP              | BM        |   2450000 | PA      | $2531830.00   | 0.16%             | 2026-06-07      | Floating      | 10.47%                | Yes           |                  2 | On Loan: No      |
| RESIDENTIAL REIN 2024                     | Residential Reinsurance 2004 Ltd                    | CUSIP: 76112AAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   5000000 | PA      | $5217000.00   | 0.33%             | 2028-12-06      | Floating      | 9.22%                 | Yes           |                  2 | On Loan: No      |
| TORREY PINES RE LTD                       | Torrey Pines Re Ltd                                 | CUSIP: 89141WAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   8250000 | PA      | $8443050.00   | 0.54%             | 2028-06-07      | Floating      | 7.63%                 | Yes           |                  2 | On Loan: No      |
| CAPE LOOKOUT RE LTD                       | Cape Lookout Re Ltd                                 | CUSIP: 13947LAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1545450.00   | 0.10%             | 2026-04-28      | Floating      | 11.07%                | Yes           |                  2 | On Loan: No      |
| BONANZA RE LTD                            | Bonanza RE Ltd                                      | CUSIP: 09785EAP6<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |   9750000 | PA      | $9898200.00   | 0.63%             | 2027-12-19      | Floating      | 7.71%                 | Yes           |                  2 | On Loan: No      |
| FLOODSMART RE LTD                         | FloodSmart Re Ltd                                   | CUSIP: 33975CAP0<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |   7750000 | PA      | $8296375.00   | 0.53%             | 2027-03-12      | Floating      | 18.23%                | Yes           |                  2 | On Loan: No      |
| SANDERS RE III LTD                        | Sanders Re III Ltd                                  | CUSIP: 80001QAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    700000 | PA      | $727930.00    | 0.05%             | 2027-04-07      | Floating      | 9.35%                 | Yes           |                  2 | On Loan: No      |
| BRIDGE STREET RE LTD                      | Bridge Street Re Ltd                                | CUSIP: 10807LAA5<br>LEI: 2549008NKPLMU6X7ID58 | Long             | DBT              | CORP              | BM        |  12250000 | PA      | $12515825.00  | 0.80%             | 2028-01-07      | Floating      | 7.94%                 | Yes           |                  2 | On Loan: No      |
| GATEWAY RE LTD                            | Gateway Re Ltd                                      | CUSIP: 36779CAM8<br>LEI: 549300ZYFWQV9RCIN520 | Long             | DBT              | CORP              | BM        |   5500000 | PA      | $5580300.00   | 0.36%             | 2028-07-07      | Floating      | 8.09%                 | Yes           |                  2 | On Loan: No      |
| BLUE SKY RE DAC                           | Blue Sky Re DAC                                     | CUSIP: 09605UAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2383680.20   | 0.15%             | 2027-01-26      | Floating      | 8.23%                 | Yes           |                  2 | On Loan: No      |
| MASCHPARK RE LTD                          | Maschpark Re Ltd                                    | CUSIP: 574591AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1500000 | PA      | $1545000.00   | 0.10%             | 2028-01-10      | Floating      | 7.37%                 | Yes           |                  2 | On Loan: No      |
| KILIMANJARO III RE LTD                    | Kilimanjaro III Re Ltd                              | CUSIP: 49407PAH3<br>LEI: 254900T37LD5YQ545V53 | Long             | DBT              | CORP              | BM        |   3000000 | PA      | $3133200.00   | 0.20%             | 2026-04-20      | Floating      | 15.13%                | Yes           |                  2 | On Loan: No      |
| RECOLETOS RE DAC                          | Recoletos RE DAC                                    | CUSIP: 755933AA6<br>LEI: 635400FIY9UG8ZHKYH56 | Long             | DBT              | CORP              | IE        |   4000000 | PA      | $4103200.00   | 0.26%             | 2028-01-07      | Floating      | 8.83%                 | Yes           |                  2 | On Loan: No      |
| PI0055-GRANTHAM RE 2025                   | PI0055-GRANTHAM RE 2025                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  19950000 | PA      | $20134233.34  | 1.29%             | 2026-01-15      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| NATURE COAST RE LTD                       | Nature Coast Re Ltd                                 | CUSIP: 63901CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2250000 | PA      | $2353950.00   | 0.15%             | 2026-12-07      | Floating      | 13.84%                | Yes           |                  2 | On Loan: No      |
| VITALITY RE XVI LTD                       | Vitality Re XVI Ltd                                 | CUSIP: 92849FAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2750000 | PA      | $2756875.00   | 0.18%             | 2029-01-08      | Floating      | 7.61%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-19

**Name of Applicant:** Victory Portfolios IV

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer