# EDGAR Filing Document

**Accession Number:** 0001027263
**File Stem:** 0001752724-25-204725
**Filing Date:** 2025-8
**Character Count:** 123658
**Document Hash:** 1567872614149565e5b2fbf015220132
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-204725.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-204725

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EQ ADVISORS TRUST
- **CENTRAL INDEX KEY:** 0001027263

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07953
- **FILM NUMBER:** 251255072

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** 212-554-1234

**MAIL ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 787 TRUST
- **DATE OF NAME CHANGE:** 19961125

## Series and Classes Contracts Data

### EQ/AB Short Duration Government Bond Portfolio (Series ID: S000029400)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000090306 | Class IB     |  |
| C000104221 | Class K      |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EQ Advisors Trust

- **b. Investment Company Act file number:** 811-07953

- **c. CIK number of Registrant:** 0001027263

- **d. LEI of Registrant:** 549300Q691FLN6WHB832

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

  - **Street Address 1:** 1345 Avenue of the Americas

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10105

  - **Telephone number:** 212-554-1234

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

- **a. Name of Series:** EQ/AB Short Duration Government Bond Portfolio

- **b. EDGAR series identifier (if any):** S000029400

- **c. LEI of Series:** 549300XO88CBQSO85I85

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $865349193.44

**Total Liabilities:** $1871015.01

**Net Assets:** $863478178.43

**Cash Not Reported:** $4280289.85

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 3177.98000000 | **1-Year:** 33987.66000000 | **5-Year:** 21517.77000000 | **10-Year:** 5969.89000000 | **30-Year:** 4468.62000000

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

- **3-Month:** 0.00000000 | **1-Year:** 30.08000000 | **5-Year:** 107.59000000 | **10-Year:** 274.57000000 | **30-Year:** 57.66000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000090306 | 0.50%                | 0.10%                | 0.50%                |
| Class ID C000104221 | 0.50%                | 0.10%                | 0.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $178015.15               | $1477338.12                                |
| Month 2  | $51368.99                | $-1631002.93                               |
| Month 3  | $5587.36                 | $1422859.28                                |

**Designated Index Information**

- **Index Name:** Ex-Derivatives Securities Portfolio

- **Index Identifier:** AX-G23857

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Deutsche Bank AG                                                     | Deutsche Bank AG                                                                                         | CUSIP: 25160PAJ6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    589000 | PA      | $589341.97    | 0.07%             | 2026-07-14      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| State of New York Urban Development Corp.                            | State of New York Urban Development Corp., Personal Income Tax, Revenue Bonds, Series 2009E              | CUSIP: 650035TD0<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |      8000 | PA      | $8254.70      | 0.00%             | 2039-03-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CLB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17358500 | PA      | $17430254.83  | 2.02%             | 2026-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                   | Banco Santander SA                                                                                       | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $406465.40    | 0.05%             | 2028-03-14      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Equify ABS LLC                                                       | Equify ABS LLC, Series 2024-1A, Class A                                                                  | CUSIP: 29445TAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    980449 | PA      | $980866.97    | 0.11%             | 2033-04-18      | Fixed         | 5.43%                 | Yes           |                  2 | On Loan: No      |
| Elevance Health, Inc.                                                | Elevance Health, Inc.                                                                                    | CUSIP: 036752AY9<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    316000 | PA      | $324823.86    | 0.04%             | 2029-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                              | Hyundai Capital America                                                                                  | CUSIP: 44891ACM7<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1440573.24   | 0.17%             | 2026-09-21      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1                                          | CUSIP: 20754TAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    570732 | PA      | $571086.62    | 0.07%             | 2045-02-25      | Floating      | 5.31%                 | Yes           |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                         | Pacific Gas and Electric Co.                                                                             | CUSIP: 694308KQ9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    217000 | PA      | $219970.43    | 0.03%             | 2029-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 4350, Class KF                                                                             | CUSIP: 3137BBHT0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    181384 | PA      | $176700.80    | 0.02%             | 2039-01-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                       | Enterprise Fleet Financing LLC, Series 2023-2, Class A2                                                  | CUSIP: 29375NAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1161970 | PA      | $1168977.69   | 0.14%             | 2030-04-22      | Fixed         | 5.56%                 | Yes           |                  2 | On Loan: No      |
| Citigroup, Inc.                                                      | Citigroup, Inc.                                                                                          | CUSIP: 172967PZ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1299000 | PA      | $1300653.11   | 0.15%             | 2028-05-07      | Variable      | 4.64%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                       | Central Puget Sound Regional Transit Authority                                                           | CUSIP: 15504RET2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      6000 | PA      | $6113.40      | 0.00%             | 2039-11-01      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                                           | LAD Auto Receivables Trust, Series 2022-1A, Class A                                                      | CUSIP: 501687AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118314 | PA      | $118393.29    | 0.01%             | 2027-06-15      | Fixed         | 5.21%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1                                          | CUSIP: 20754GAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    519689 | PA      | $519523.30    | 0.06%             | 2044-02-25      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5943400 | PA      | $5966659.50   | 0.69%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2021-N2, Class B                                                  | CUSIP: 14686KAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     84130 | PA      | $81045.09     | 0.01%             | 2028-03-10      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                                        | Lendbuzz Securitization Trust, Series 2025-1A, Class A1                                                  | CUSIP: 525938AB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    272304 | PA      | $272311.34    | 0.03%             | 2026-02-15      | Fixed         | 4.58%                 | Yes           |                  2 | On Loan: No      |
| FFCB                                                                 | FFCB                                                                                                     | CUSIP: 3133EPW68<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |  20000000 | PA      | $19984326.00  | 2.31%             | 2026-01-22      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M1                                          | CUSIP: 20755RAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    673672 | PA      | $673672.83    | 0.08%             | 2044-09-25      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Tricolor Auto Securitization Trust                                   | Tricolor Auto Securitization Trust, Series 2025-1A, Class A                                              | CUSIP: 89617CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1730799 | PA      | $1732157.32   | 0.20%             | 2029-02-15      | Fixed         | 4.94%                 | Yes           |                  2 | On Loan: No      |
| Bank of Ireland Group plc                                            | Bank of Ireland Group plc                                                                                | CUSIP: 06279JAC3<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |    424000 | PA      | $425318.60    | 0.05%             | 2026-09-16      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797PW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  74384800 | PA      | $73753659.85  | 8.54%             | 2025-09-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2021-N1, Class C                                                  | CUSIP: 14687DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    388620 | PA      | $376967.86    | 0.04%             | 2028-01-10      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                                 | American Express Co.                                                                                     | CUSIP: 025816DT3<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    661000 | PA      | $667161.11    | 0.08%             | 2027-04-23      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| N/A                                                                  | U.S. Treasury Ultra Bond                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -4 | NC      | $-12928.03    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CJF9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7281100 | PA      | $7542744.14   | 0.87%             | 2028-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Trust                                                 | Pagaya AI Debt Trust, Series 2024-2, Class A                                                             | CUSIP: 694961AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425481 | PA      | $429520.40    | 0.05%             | 2031-08-15      | Fixed         | 6.32%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                   | General Motors Financial Co., Inc.                                                                       | CUSIP: 37045XEQ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    497000 | PA      | $504190.79    | 0.06%             | 2027-05-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| N/A                                                                  | U.S. Treasury 2 Year Note                                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       521 | NC      | $326314.95    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                                                      | Starbucks Corp.                                                                                          | CUSIP: 855244BG3<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |   1415000 | PA      | $1426521.92   | 0.17%             | 2027-02-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Harley-Davidson Financial Services, Inc.                             | Harley-Davidson Financial Services, Inc.                                                                 | CUSIP: 41284VAC6<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |    538000 | PA      | $555015.49    | 0.06%             | 2028-03-10      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust                                    | Affirm Asset Securitization Trust, Series 2024-X1, Class A                                               | CUSIP: 00834XAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     93429 | PA      | $93476.30     | 0.01%             | 2029-05-15      | Fixed         | 6.27%                 | Yes           |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2024-P3, Class A2                                                 | CUSIP: 146919AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    905519 | PA      | $905345.45    | 0.10%             | 2027-11-10      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Prosper Marketplace Issuance Trust                                   | Prosper Marketplace Issuance Trust, Series 2024-1A, Class A                                              | CUSIP: 74363CAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    277057 | PA      | $277438.44    | 0.03%             | 2029-08-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| San Francisco Bay Area Toll Authority                                | San Francisco Bay Area Toll Authority, Subordinate Toll Bridge, Revenue Bonds, Series 2010-S1            | CUSIP: 072024NV0<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |      6000 | PA      | $6800.51      | 0.00%             | 2050-04-01      | Fixed         | 7.04%                 | No            |                  2 | On Loan: No      |
| Ohio State University (The)                                          | Ohio State University (The)                                                                              | CUSIP: 677632MV0<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | DBT              | MUN               | US        |      6000 | PA      | $5839.84      | 0.00%             | 2040-06-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                     | Bank of Montreal, Series f2f                                                                             | CUSIP: 06368L8K5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1466000 | PA      | $1470657.34   | 0.17%             | 2027-09-10      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2024-DNA3, Class A1                                                      | CUSIP: 35564NEY5<br>LEI: 529900P3PHNE8PW64Z68 | Long             | ABS-MBS          | CORP              | US        |   1546720 | PA      | $1546715.23   | 0.18%             | 2044-10-25      | Floating      | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Goldentree Loan Management US CLO Ltd.                               | Goldentree Loan Management US CLO Ltd., Series 2020-7A, Class ARR                                        | CUSIP: 38138LAW8<br>LEI: 549300DO8S88M0JNL340 | Long             | ABS-CBDO         | CORP              | KY        |   2550000 | PA      | $2547529.05   | 0.30%             | 2034-04-20      | Floating      | 5.37%                 | Yes           |                  2 | On Loan: No      |
| Broadcom, Inc.                                                       | Broadcom, Inc.                                                                                           | CUSIP: 11135FCA7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    212000 | PA      | $211188.10    | 0.02%             | 2028-02-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                     | Boeing Co. (The)                                                                                         | CUSIP: 097023DB8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1743000 | PA      | $1690332.29   | 0.20%             | 2028-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| UBS Group AG                                                         | UBS Group AG                                                                                             | CUSIP: 225401AY4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    910000 | PA      | $910000.00    | 0.11%             | 2026-07-15      | Variable      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                | Massachusetts Clean Water Trust (The)                                                                    | CUSIP: 57604P5P5<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30226.25     | 0.00%             | 2040-08-01      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                                | Nomura Holdings, Inc.                                                                                    | CUSIP: 65535HBG3<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    912000 | PA      | $916187.63    | 0.11%             | 2026-01-09      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority                           | Metropolitan Washington Airports Authority, Revenue Bonds, Series 2009D                                  | CUSIP: 592643AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      9000 | PA      | $10409.20     | 0.00%             | 2046-10-01      | Fixed         | 7.46%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2022-DNA7, Class M1A                                                     | CUSIP: 35564KL31<br>LEI: 5493000IRUQLXTG4SV18 | Long             | ABS-MBS          | CORP              | US        |   1106843 | PA      | $1121390.71   | 0.13%             | 2052-03-25      | Floating      | 6.81%                 | Yes           |                  2 | On Loan: No      |
| Amur Equipment Finance Receivables XI LLC                            | Amur Equipment Finance Receivables XI LLC, Series 2022-2A, Class A2                                      | CUSIP: 03236XAB3<br>LEI: 549300IFG1NMINYRYF89 | Long             | ABS-O            | CORP              | US        |    191372 | PA      | $191734.24    | 0.02%             | 2028-06-21      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                                       | Carvana Auto Receivables Trust, Series 2021-N3, Class C                                                  | CUSIP: 14687GAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155727 | PA      | $148904.15    | 0.02%             | 2028-06-12      | Fixed         | 1.02%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2023-DNA2, Class M1A                                                     | CUSIP: 35564KT58<br>LEI: 5493000IRI80KQJUNK40 | Long             | ABS-MBS          | CORP              | US        |    575853 | PA      | $584853.98    | 0.07%             | 2043-04-25      | Floating      | 6.41%                 | Yes           |                  2 | On Loan: No      |
| Pagaya AI Debt Grantor Trust                                         | Pagaya AI Debt Grantor Trust, Series 2024-9, Class B                                                     | CUSIP: 69546QAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1804076 | PA      | $1806387.65   | 0.21%             | 2032-03-15      | Fixed         | 5.31%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CJV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  22480500 | PA      | $22476995.29  | 2.60%             | 2026-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2016-C02, Class 1M2                                                                         | CUSIP: 30711XCB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     85068 | PA      | $86800.16     | 0.01%             | 2028-09-25      | Floating      | 10.42%                | No            |                  2 | On Loan: No      |
| Honeywell International, Inc.                                        | Honeywell International, Inc.                                                                            | CUSIP: 438516CX2<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |   1403000 | PA      | $1416441.86   | 0.16%             | 2027-07-30      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Brex Commercial Charge Card Master Trust                             | Brex Commercial Charge Card Master Trust, Series 2024-1, Class A1                                        | CUSIP: 05601DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1478000 | PA      | $1485836.95   | 0.17%             | 2027-07-15      | Fixed         | 6.05%                 | Yes           |                  2 | On Loan: No      |
| Athene Global Funding                                                | Athene Global Funding                                                                                    | CUSIP: 04685A3V1<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $1422282.65   | 0.16%             | 2026-05-08      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| ACM Auto Trust                                                       | ACM Auto Trust, Series 2025-1A, Class A                                                                  | CUSIP: 00161EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    687385 | PA      | $687935.74    | 0.08%             | 2029-06-20      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CaixaBank SA                                                         | CaixaBank SA                                                                                             | CUSIP: 12803RAK0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   1297000 | PA      | $1299240.57   | 0.15%             | 2029-07-03      | Variable      | 4.63%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797LW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  24164800 | PA      | $24139465.62  | 2.80%             | 2025-07-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA                                                                                                     | CUSIP: 31359MEU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   5000000 | PA      | $5443759.50   | 0.63%             | 2029-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                  | City of New York, General Obligation Bonds, Series 2009-A1, Series A-2                                   | CUSIP: 64966HMV9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |      6000 | PA      | $6069.74      | 0.00%             | 2031-10-01      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Georgia Municipal Electric Authority                                 | Georgia Municipal Electric Authority, Revenue Bonds, Series 2010A                                        | CUSIP: 626207YF5<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |     36000 | PA      | $38870.36     | 0.00%             | 2057-04-01      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                     | Deutsche Bank AG                                                                                         | CUSIP: 25160PAN7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    542000 | PA      | $555672.44    | 0.06%             | 2027-07-13      | Variable      | 7.15%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2022-R05, Class 2M1                                          | CUSIP: 20754DAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    199231 | PA      | $200011.41    | 0.02%             | 2042-04-25      | Floating      | 6.21%                 | Yes           |                  2 | On Loan: No      |
| Aircastle Ltd.                                                       | Aircastle Ltd.                                                                                           | CUSIP: 00928QAY7<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    297000 | PA      | $306798.68    | 0.04%             | 2029-02-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2012-65, Class FA                                                                           | CUSIP: 3136A6YN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21664 | PA      | $21393.21     | 0.00%             | 2042-06-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FFCB                                                                 | FFCB                                                                                                     | CUSIP: 3133EPSW6<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |  10000000 | PA      | $10059380.00  | 1.16%             | 2026-08-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| First Investors Auto Owner Trust                                     | First Investors Auto Owner Trust, Series 2021-2A, Class C                                                | CUSIP: 32057JAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2457129 | PA      | $2421788.61   | 0.28%             | 2027-11-15      | Fixed         | 1.47%                 | Yes           |                  2 | On Loan: No      |
| BBCMS Mortgage Trust                                                 | BBCMS Mortgage Trust, Series 2020-BID, Class A                                                           | CUSIP: 05493BAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3190000 | PA      | $3190000.32   | 0.37%             | 2037-10-15      | Floating      | 6.57%                 | Yes           |                  2 | On Loan: No      |
| American Tower Corp.                                                 | American Tower Corp.                                                                                     | CUSIP: 03027XCG3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    296000 | PA      | $302781.24    | 0.04%             | 2029-02-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CKB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18816900 | PA      | $18867600.26  | 2.19%             | 2026-02-28      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FHLB                                                                 | FHLB                                                                                                     | CUSIP: 3130A8XY4<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |  20000000 | PA      | $19548356.00  | 2.26%             | 2026-09-11      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Republic Services, Inc.                                              | Republic Services, Inc.                                                                                  | CUSIP: 760759BL3<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1399195.05   | 0.16%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2023-R02, Class 1M1                                          | CUSIP: 20755AAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    781259 | PA      | $797334.77    | 0.09%             | 2043-01-25      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                                     | Deutsche Bank AG                                                                                         | CUSIP: 25160PAQ0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    231000 | PA      | $234791.98    | 0.03%             | 2029-01-10      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                         | ING Groep NV                                                                                             | CUSIP: 456837BQ5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1374000 | PA      | $1385468.50   | 0.16%             | 2029-03-25      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2010-39, Class FT                                                                           | CUSIP: 31398PT90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1011452 | PA      | $1018671.70   | 0.12%             | 2035-10-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                 | Glencore Funding LLC                                                                                     | CUSIP: 378272BY3<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    686000 | PA      | $692640.14    | 0.08%             | 2028-04-01      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| Synchrony Financial                                                  | Synchrony Financial                                                                                      | CUSIP: 87165BAM5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    895000 | PA      | $879224.10    | 0.10%             | 2027-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                           | Aviation Capital Group LLC                                                                               | CUSIP: 05369AAK7<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |   1884000 | PA      | $1854857.91   | 0.21%             | 2026-01-30      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R04, Class 1M1                                          | CUSIP: 20755TAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1047144 | PA      | $1049077.51   | 0.12%             | 2045-05-25      | Floating      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Linked Notes                              | Santander Bank Auto Credit-Linked Notes, Series 2022-C, Class B                                          | CUSIP: 80290CBF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     54852 | PA      | $54890.41     | 0.01%             | 2032-12-15      | Fixed         | 6.45%                 | Yes           |                  2 | On Loan: No      |
| FHLB                                                                 | FHLB                                                                                                     | CUSIP: 3130AYPN0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |   2400000 | PA      | $2412425.28   | 0.28%             | 2027-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FFCB                                                                 | FFCB                                                                                                     | CUSIP: 3133EN6A3<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |  50000000 | PA      | $49927415.00  | 5.78%             | 2026-01-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CKH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15214800 | PA      | $15255689.78  | 1.77%             | 2026-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Grantor Trust                                         | Pagaya AI Debt Grantor Trust, Series 2024-5, Class A                                                     | CUSIP: 69544LAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    501696 | PA      | $504690.30    | 0.06%             | 2031-10-15      | Fixed         | 6.28%                 | Yes           |                  2 | On Loan: No      |
| Barclays plc                                                         | Barclays plc                                                                                             | CUSIP: 06738ECC7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    986000 | PA      | $994377.15    | 0.12%             | 2026-11-02      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                 | Glencore Funding LLC                                                                                     | CUSIP: 378272BZ0<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    291000 | PA      | $296340.43    | 0.03%             | 2030-04-01      | Fixed         | 5.19%                 | Yes           |                  2 | On Loan: No      |
| Keurig Dr Pepper, Inc.                                               | Keurig Dr Pepper, Inc.                                                                                   | CUSIP: 49271VAT7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1409000 | PA      | $1439688.87   | 0.17%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Trust                                   | Research-Driven Pagaya Motor Trust, Series 2024-1A, Class A                                              | CUSIP: 76088YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    534559 | PA      | $539074.51    | 0.06%             | 2032-06-25      | Fixed         | 7.09%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R04, Class 1A1                                          | CUSIP: 20755TAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640202 | PA      | $640416.16    | 0.07%             | 2045-05-25      | Floating      | 5.31%                 | Yes           |                  2 | On Loan: No      |
| County of Los Angeles Community College District                     | County of Los Angeles Community College District, General Obligation Bonds, Series 2008-E                | CUSIP: 54438CPA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      6000 | PA      | $6706.13      | 0.00%             | 2049-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Hardee's Funding LLC                                                 | Hardee's Funding LLC, Series 2018-1A, Class A23                                                          | CUSIP: 411707AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1315434 | PA      | $1301797.92   | 0.15%             | 2048-06-20      | Fixed         | 5.71%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                  | U.S. Treasury 10 Year Note                                                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -39 | NC      | $-78358.88    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CJE2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  38808900 | PA      | $38886327.64  | 4.50%             | 2025-10-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1                                          | CUSIP: 20753GAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    877389 | PA      | $877116.77    | 0.10%             | 2044-05-25      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                | Metropolitan Transportation Authority, Revenue Bonds, Series 2010B-1                                     | CUSIP: 59259YCA5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |      6000 | PA      | $6356.13      | 0.00%             | 2031-11-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                                      | Santander UK Group Holdings plc                                                                          | CUSIP: 80281LAS4<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   1509000 | PA      | $1521338.79   | 0.18%             | 2026-11-21      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                        | Commonwealth of Massachusetts, General Obligation Bonds, Series 2009E                                    | CUSIP: 57582PUE8<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |      7000 | PA      | $7104.85      | 0.00%             | 2039-12-01      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2025-DNA2, Class A1                                                      | CUSIP: 35564NHY2<br>LEI: 529900XX8WXEM4FBIH80 | Long             | ABS-MBS          | CORP              | US        |    620299 | PA      | $620529.44    | 0.07%             | 2045-05-25      | Floating      | 5.41%                 | Yes           |                  2 | On Loan: No      |
| Cencora, Inc.                                                        | Cencora, Inc.                                                                                            | CUSIP: 03073EAV7<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   1436000 | PA      | $1446789.24   | 0.17%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC                              | Mercedes-Benz Finance North America LLC                                                                  | CUSIP: 58769JAU1<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   1403000 | PA      | $1412147.98   | 0.16%             | 2027-08-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AS Mileage Plan IP Ltd.                                              | AS Mileage Plan IP Ltd.                                                                                  | CUSIP: 00218QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    877000 | PA      | $866153.35    | 0.10%             | 2029-10-20      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2013-121, Class FA                                                                          | CUSIP: 3136AHEU0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    325093 | PA      | $321989.08    | 0.04%             | 2043-12-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| UBS-Barclays Commercial Mortgage Trust                               | UBS-Barclays Commercial Mortgage Trust, Series 2013-C5, Class B                                          | CUSIP: 90270YAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1033347 | PA      | $956119.68    | 0.11%             | 2046-03-10      | Variable      | 3.65%                 | Yes           |                  2 | On Loan: No      |
| Nationwide Building Society                                          | Nationwide Building Society                                                                              | CUSIP: 63861VAF4<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   1611000 | PA      | $1572841.05   | 0.18%             | 2028-02-16      | Variable      | 2.97%                 | Yes           |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                       | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Revenue Bonds, Series 2010B | CUSIP: 646136XR7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |     31000 | PA      | $33769.95     | 0.00%             | 2040-12-15      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| Go Mortgage LLC                                                      | Go Mortgage LLC                                                                                          | CUSIP: 36261CAA9<br>LEI: 25490018IFQOT83Q7H49 | Long             | ABS-O            | CORP              | US        |    712675 | PA      | $703680.85    | 0.08%             | 2026-08-15      | Variable      | 1.43%                 | No            |                  2 | On Loan: No      |
| Go Mortgage LLC                                                      | Go Mortgage LLC                                                                                          | CUSIP: 36261CAC5<br>LEI: 25490018IFQOT83Q7H49 | Long             | ABS-O            | CORP              | US        |    876000 | PA      | $867695.26    | 0.10%             | 2026-08-15      | Variable      | 2.44%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2025-R03, Class 2M1                                          | CUSIP: 20754VAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1720789 | PA      | $1728945.15   | 0.20%             | 2045-03-25      | Floating      | 5.91%                 | Yes           |                  2 | On Loan: No      |
| Harley-Davidson Financial Services, Inc.                             | Harley-Davidson Financial Services, Inc.                                                                 | CUSIP: 41283LBA2<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |    608000 | PA      | $588116.03    | 0.07%             | 2027-02-14      | Fixed         | 3.05%                 | Yes           |                  2 | On Loan: No      |
| FHLB                                                                 | FHLB                                                                                                     | CUSIP: 3130B0TY5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |  10695000 | PA      | $10879548.64  | 1.26%             | 2027-04-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797RD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  28463900 | PA      | $28091990.68  | 3.25%             | 2025-10-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                                    | Xcel Energy, Inc.                                                                                        | CUSIP: 98389BBD1<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |   1374000 | PA      | $1387356.10   | 0.16%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                | Metropolitan Transportation Authority, Revenue Bonds, Series 2010A                                       | CUSIP: 59259YBY4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |      8000 | PA      | $8651.47      | 0.00%             | 2039-11-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                       | Broadcom, Inc.                                                                                           | CUSIP: 11135FBZ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    530000 | PA      | $537349.72    | 0.06%             | 2027-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2023-DNA1, Class M1A                                                     | CUSIP: 35564KP37<br>LEI: 5493000IRILHAKSCHN59 | Long             | ABS-MBS          | CORP              | US        |    868496 | PA      | $881253.91    | 0.10%             | 2043-03-25      | Floating      | 6.41%                 | Yes           |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                  | Kinder Morgan, Inc.                                                                                      | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1381553.53   | 0.16%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Lobel Automobile Receivables Trust                                   | Lobel Automobile Receivables Trust, Series 2025-1, Class A                                               | CUSIP: 53948RAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1741223 | PA      | $1742350.09   | 0.20%             | 2027-11-15      | Fixed         | 5.06%                 | Yes           |                  2 | On Loan: No      |
| Santander Drive Auto Receivables Trust                               | Santander Drive Auto Receivables Trust, Series 2024-4, Class A2                                          | CUSIP: 802919AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525837 | PA      | $526219.65    | 0.06%             | 2027-07-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CJS1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3310600 | PA      | $3310207.69   | 0.38%             | 2025-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA                                                  | Wells Fargo Bank NA                                                                                      | CUSIP: 94988J6H5<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |   1396000 | PA      | $1397327.46   | 0.16%             | 2026-01-15      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                     | Pennsylvania Turnpike Commission, Revenue Bonds, Series 2010B                                            | CUSIP: 709223A27<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |      9000 | PA      | $8925.54      | 0.00%             | 2045-12-01      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | UMBS                                                                                                     | CUSIP: 31339U5V8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1243574 | PA      | $1137964.11   | 0.13%             | 2049-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank NA                                               | Morgan Stanley Bank NA                                                                                   | CUSIP: 61690U8B9<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    467000 | PA      | $476645.79    | 0.06%             | 2028-05-26      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2011-53, Class FT                                                                           | CUSIP: 31397URA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     99542 | PA      | $99061.94     | 0.01%             | 2041-06-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                  | U.S. Treasury 5 Year Note                                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -234 | NC      | $-364086.92   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Mission Lane Credit Card Master Trust                                | Mission Lane Credit Card Master Trust, Series 2024-B, Class A                                            | CUSIP: 60510MBE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2373000 | PA      | $2391942.00   | 0.28%             | 2030-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Oportun Funding Trust                                                | Oportun Funding Trust, Series 2025-1, Class A                                                            | CUSIP: 68377PAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1081282 | PA      | $1079198.86   | 0.12%             | 2032-08-16      | Fixed         | 4.96%                 | Yes           |                  2 | On Loan: No      |
| Continental Resources, Inc.                                          | Continental Resources, Inc.                                                                              | CUSIP: 212015AS0<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1426000 | PA      | $1404101.49   | 0.16%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization Trust                                   | Tricolor Auto Securitization Trust, Series 2024-2A, Class A                                              | CUSIP: 89616PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    246330 | PA      | $246961.28    | 0.03%             | 2027-12-15      | Fixed         | 6.36%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797PN1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  11271600 | PA      | $11212379.01  | 1.30%             | 2025-08-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Campbell's Co. (The)                                                 | Campbell's Co. (The)                                                                                     | CUSIP: 134429BL2<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |   1401000 | PA      | $1409546.94   | 0.16%             | 2026-03-20      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FFCB                                                                 | FFCB                                                                                                     | CUSIP: 3133EPNG6<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |  30892000 | PA      | $30999467.09  | 3.59%             | 2026-06-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                         | Barclays plc                                                                                             | CUSIP: 06738ECP8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    372000 | PA      | $378561.82    | 0.04%             | 2028-03-12      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R05, Class 2M1                                          | CUSIP: 20754XAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    390715 | PA      | $390351.46    | 0.05%             | 2044-07-25      | Floating      | 5.31%                 | Yes           |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                             | Lloyds Banking Group plc                                                                                 | CUSIP: 539439AX7<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    810000 | PA      | $836738.42    | 0.10%             | 2029-03-06      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Oportun Issuance Trust                                               | Oportun Issuance Trust, Series 2024-2, Class A                                                           | CUSIP: 68377KAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    266321 | PA      | $266574.64    | 0.03%             | 2032-02-09      | Fixed         | 5.86%                 | Yes           |                  2 | On Loan: No      |
| City of New York Municipal Water Finance Authority                   | City of New York Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series 2010EE   | CUSIP: 64972FL20<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |      6000 | PA      | $6176.66      | 0.00%             | 2042-06-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                                 | American Express Co.                                                                                     | CUSIP: 025816DG1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    749000 | PA      | $756224.63    | 0.09%             | 2027-07-28      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                   | Banco Santander SA                                                                                       | CUSIP: 05964HBF1<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $407159.76    | 0.05%             | 2028-07-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                 | City of Chicago, International Airport, Revenue Bonds, Series 2010B                                      | CUSIP: 167593AN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      6000 | PA      | $6614.61      | 0.00%             | 2040-01-01      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                              | Bay Area Toll Authority                                                                                  | CUSIP: 072024ND0<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |      7000 | PA      | $7360.94      | 0.00%             | 2049-04-01      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                             | Lloyds Banking Group plc                                                                                 | CUSIP: 53944YBC6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    568000 | PA      | $574851.56    | 0.07%             | 2028-11-26      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| San Diego County Water Authority                                     | San Diego County Water Authority                                                                         | CUSIP: 79741TAR5<br>LEI: 549300Y0QN5OFKA1G520 | Long             | DBT              | MUN               | US        |      6000 | PA      | $6152.82      | 0.00%             | 2049-05-01      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2011-86, Class KF                                                                           | CUSIP: 3136A0K48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    104850 | PA      | $104189.29    | 0.01%             | 2041-09-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                                         | Ford Credit Auto Owner Trust, Series 2021-1, Class C                                                     | CUSIP: 345340AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1168000 | PA      | $1137572.90   | 0.13%             | 2033-10-17      | Fixed         | 1.91%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2021-HQA2, Class M2                                                      | CUSIP: 35564KFV6<br>LEI: 5493000ISM9M3KNO6J64 | Long             | ABS-MBS          | CORP              | US        |   1003237 | PA      | $1027064.28   | 0.12%             | 2033-12-25      | Floating      | 6.36%                 | Yes           |                  2 | On Loan: No      |
| International Business Machines Corp.                                | International Business Machines Corp.                                                                    | CUSIP: 459200LF6<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |   1403000 | PA      | $1418766.21   | 0.16%             | 2028-02-10      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| HFX Funding Issuer LLC                                               | HFX Funding Issuer LLC                                                                                   | CUSIP: 40422GAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     27030 | PA      | $26893.44     | 0.00%             | 2035-03-15      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank Ltd.                                      | Sumitomo Mitsui Trust Bank Ltd.                                                                          | CUSIP: 86563VBT5<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |    270000 | PA      | $270716.90    | 0.03%             | 2027-09-10      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities                                        | Connecticut Avenue Securities, Series 2025-R01, Class 1A1                                                | CUSIP: 20755JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2206859 | PA      | $2203416.15   | 0.26%             | 2045-01-25      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| State of New York Dormitory Authority                                | State of New York Dormitory Authority, Personal Income Tax, Revenue Bonds, Series 2010D                  | CUSIP: 649902T37<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      6000 | PA      | $6103.29      | 0.00%             | 2040-03-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 3927, Class FH                                                                             | CUSIP: 3137AFEP3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     24113 | PA      | $23873.44     | 0.00%             | 2041-09-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 3807, Class FM                                                                             | CUSIP: 3137A6NJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     20963 | PA      | $20806.08     | 0.00%             | 2041-02-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                                    | NatWest Group plc                                                                                        | CUSIP: 639057AJ7<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    691000 | PA      | $696752.16    | 0.08%             | 2027-03-02      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2025-HQA1, Class A1                                                      | CUSIP: 35564NGY3<br>LEI: 529900MBUPRSJMB6GN48 | Long             | ABS-MBS          | CORP              | US        |   1631559 | PA      | $1629014.10   | 0.19%             | 2045-02-25      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                | Metropolitan Transportation Authority, Revenue Bonds, Series 2010B-1                                     | CUSIP: 59259YBZ1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |      6000 | PA      | $6440.34      | 0.00%             | 2039-11-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust                                        | Lendbuzz Securitization Trust, Series 2025-1A, Class A2                                                  | CUSIP: 525938AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2061000 | PA      | $2067512.97   | 0.24%             | 2030-10-15      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| FFCB                                                                 | FFCB                                                                                                     | CUSIP: 3133ERZ46<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |  25000000 | PA      | $25276837.50  | 2.93%             | 2028-01-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CPS Auto Receivables Trust                                           | CPS Auto Receivables Trust, Series 2024-C, Class A                                                       | CUSIP: 223920AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    417522 | PA      | $418634.71    | 0.05%             | 2028-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 3305, Class FT                                                                             | CUSIP: 31397GTA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     30984 | PA      | $30729.28     | 0.00%             | 2034-07-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                           | Aviation Capital Group LLC                                                                               | CUSIP: 05369AAL5<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    623000 | PA      | $602699.05    | 0.07%             | 2026-09-20      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 4483, Class A                                                                              | CUSIP: 3137BJZ22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     42224 | PA      | $41632.69     | 0.00%             | 2029-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FHLB                                                                 | FHLB                                                                                                     | CUSIP: 3130ATHW0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |  41475000 | PA      | $41717972.99  | 4.83%             | 2027-09-10      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BMW US Capital LLC                                                   | BMW US Capital LLC                                                                                       | CUSIP: 05565ECQ6<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |   1419000 | PA      | $1425223.45   | 0.17%             | 2027-08-13      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| Altria Group, Inc.                                                   | Altria Group, Inc.                                                                                       | CUSIP: 02209SBS1<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   1403000 | PA      | $1420118.84   | 0.16%             | 2028-02-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mission Lane Credit Card Master Trust                                | Mission Lane Credit Card Master Trust, Series 2024-A, Class A1                                           | CUSIP: 60510MAY4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1026000 | PA      | $1032048.06   | 0.12%             | 2029-08-15      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2014-49, Class AF                                                                           | CUSIP: 3136AKWD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    965155 | PA      | $943084.71    | 0.11%             | 2044-08-25      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| INVESCO GOVT AND AGCY LEX                                            | INVESCO GOVERNMENT & AGENCY PORTFOLIO OPEN-END FUND USD                                                  | CUSIP: 825252885<br>LEI: O37NHJVF7S22I1ONOU83 | Long             | STIV             | RF                | US        |     60150 | PA      | $60150.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Santander Holdings USA, Inc.                                         | Santander Holdings USA, Inc.                                                                             | CUSIP: 80282KBN5<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1396201.95   | 0.16%             | 2029-03-20      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 4459, Class CA                                                                             | CUSIP: 3137BHTF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    155108 | PA      | $157264.77    | 0.02%             | 2034-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Trust                                                 | Pagaya AI Debt Trust, Series 2024-3, Class A                                                             | CUSIP: 69547XAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    526350 | PA      | $529470.88    | 0.06%             | 2031-10-15      | Fixed         | 6.26%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797QZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  28648700 | PA      | $28091511.43  | 3.25%             | 2025-12-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2023-HQA2, Class M1A                                                     | CUSIP: 35564K2F5<br>LEI: 5493000KIGZAWUOW4E32 | Long             | ABS-MBS          | CORP              | US        |    691067 | PA      | $694881.12    | 0.08%             | 2043-06-25      | Floating      | 6.31%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CJA0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4286400 | PA      | $4404718.79   | 0.51%             | 2028-09-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                               | Tesla Auto Lease Trust, Series 2024-A, Class A3                                                          | CUSIP: 88166VAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    759000 | PA      | $760653.79    | 0.09%             | 2027-06-21      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group plc                                                    | NatWest Group plc                                                                                        | CUSIP: 639057AG3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    520000 | PA      | $525069.27    | 0.06%             | 2026-11-10      | Variable      | 7.47%                 | No            |                  2 | On Loan: No      |
| State of Georgia                                                     | State of Georgia, General Obligation Bonds, Series 2009H                                                 | CUSIP: 373384NZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      1000 | PA      | $1000.50      | 0.00%             | 2025-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Toll Authority                                | San Francisco Bay Area Toll Authority, Subordinate Toll Bridge, Revenue Bonds, Series 2010-S1            | CUSIP: 072024NU2<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |      1000 | PA      | $1116.25      | 0.00%             | 2040-04-01      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC                                                                                                    | CUSIP: 3137EAEX3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   3000000 | PA      | $2973216.60   | 0.34%             | 2025-09-23      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 3349, Class FE                                                                             | CUSIP: 31397JV68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    624492 | PA      | $619795.51    | 0.07%             | 2037-07-15      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| CLNY Trust                                                           | CLNY Trust, Series 2019-IKPR, Class D                                                                    | CUSIP: 12564NAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1232000 | PA      | $1176557.78   | 0.14%             | 2038-11-15      | Floating      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1                                          | CUSIP: 207942AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1235119 | PA      | $1247022.40   | 0.14%             | 2043-06-25      | Floating      | 6.21%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings plc                                                    | HSBC Holdings plc                                                                                        | CUSIP: 404280DF3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1051000 | PA      | $1054171.08   | 0.12%             | 2028-06-09      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2011-86, Class NF                                                                           | CUSIP: 3136A0J65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     41197 | PA      | $41013.64     | 0.00%             | 2041-09-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Grantor Trust                                         | Pagaya AI Debt Grantor Trust, Series 2025-1, Class A                                                     | CUSIP: 69544NAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    262535 | PA      | $262757.52    | 0.03%             | 2032-07-15      | Variable      | 4.99%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                            | Vistra Operations Co. LLC                                                                                | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200977.34    | 0.02%             | 2026-12-30      | Fixed         | 5.05%                 | Yes           |                  2 | On Loan: No      |
| ACM Auto Trust                                                       | ACM Auto Trust, Series 2024-2A, Class A                                                                  | CUSIP: 00461WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    959123 | PA      | $961774.04    | 0.11%             | 2029-02-20      | Fixed         | 6.06%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                 | Ally Financial, Inc.                                                                                     | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    812000 | PA      | $825139.30    | 0.10%             | 2029-05-15      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2007-109, Class GF                                                                          | CUSIP: 31396X2G8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     47862 | PA      | $47789.79     | 0.01%             | 2037-12-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Wheels Fleet Lease Funding LLC                                       | Wheels Fleet Lease Funding LLC, Series 2024-1A, Class A1                                                 | CUSIP: 96328GBM8<br>LEI: 549300BSFY0E0XXREF43 | Long             | ABS-O            | CORP              | US        |   1942521 | PA      | $1961503.04   | 0.23%             | 2039-02-18      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                 | JPMorgan Chase & Co.                                                                                     | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1396000 | PA      | $1408189.17   | 0.16%             | 2028-01-23      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust                                    | Affirm Asset Securitization Trust, Series 2024-X2, Class A                                               | CUSIP: 00833QAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    725929 | PA      | $725872.96    | 0.08%             | 2029-12-17      | Fixed         | 5.22%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CGP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2727000 | PA      | $2747039.09   | 0.32%             | 2028-02-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                       | Morgan Stanley                                                                                           | CUSIP: 61747YFP5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    942000 | PA      | $962801.72    | 0.11%             | 2028-04-13      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                                     | NMEF Funding LLC, Series 2024-A, Class A2                                                                | CUSIP: 62919UAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1729790 | PA      | $1731522.53   | 0.20%             | 2031-12-15      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| Arizona Salt River Project Agricultural Improvement & Power District | Arizona Salt River Project, Agricultural Improvement & Power District, Revenue Bonds, Series 2010A       | CUSIP: 79575DE63<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |     18000 | PA      | $16845.12     | 0.00%             | 2041-01-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Standard Chartered plc                                               | Standard Chartered plc                                                                                   | CUSIP: 853254CT5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    502000 | PA      | $509765.94    | 0.06%             | 2027-07-06      | Variable      | 6.19%                 | Yes           |                  2 | On Loan: No      |
| Los Angeles Community College District                               | Los Angeles Community College District                                                                   | CUSIP: 54438CNZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     31000 | PA      | $33632.83     | 0.00%             | 2042-08-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                  | Societe Generale SA                                                                                      | CUSIP: 83368RBV3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1392000 | PA      | $1411190.25   | 0.16%             | 2028-01-19      | Variable      | 5.52%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                           | UMBS                                                                                                     | CUSIP: 31346YAV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    814131 | PA      | $745245.50    | 0.09%             | 2049-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA                                                                                                     | CUSIP: 3135G05Y5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   5000000 | PA      | $4674234.00   | 0.54%             | 2027-10-08      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Prestige Auto Receivables Trust                                      | Prestige Auto Receivables Trust, Series 2025-1A, Class A2                                                | CUSIP: 74113UAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1746000 | PA      | $1746719.35   | 0.20%             | 2027-12-15      | Fixed         | 4.87%                 | Yes           |                  2 | On Loan: No      |
| FNMA                                                                 | FNMA, Series 2006-42, Class CF                                                                           | CUSIP: 31395DVV8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28055 | PA      | $27876.12     | 0.00%             | 2036-06-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 4457, Class BA                                                                             | CUSIP: 3137BHVG9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1972703 | PA      | $1885668.17   | 0.22%             | 2039-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                      | Goldman Sachs Group, Inc. (The)                                                                          | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    724000 | PA      | $729573.71    | 0.08%             | 2028-04-23      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797PF8<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  35602100 | PA      | $35507423.34  | 4.11%             | 2025-07-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                                           | Flagship Credit Auto Trust, Series 2024-3, Class A                                                       | CUSIP: 33843YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    599844 | PA      | $600814.91    | 0.07%             | 2028-11-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                   | General Motors Financial Co., Inc.                                                                       | CUSIP: 37045XFH4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    783000 | PA      | $787732.77    | 0.09%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corp.                                         | Chase Mortgage Finance Corp., Series 2019-CL1, Class M3                                                  | CUSIP: 46591HAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    247246 | PA      | $250624.00    | 0.03%             | 2047-04-25      | Floating      | 6.53%                 | Yes           |                  2 | On Loan: No      |
| Go Mortgage LLC                                                      | Go Mortgage LLC                                                                                          | CUSIP: 36261CAE1<br>LEI: 25490018IFQOT83Q7H49 | Long             | ABS-O            | CORP              | US        |     98000 | PA      | $96206.81     | 0.01%             | 2026-08-15      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| FHLB                                                                 | FHLB                                                                                                     | CUSIP: 3130AWN63<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |  40000000 | PA      | $40454796.00  | 4.69%             | 2028-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FFCB                                                                 | FFCB                                                                                                     | CUSIP: 3133EP4K8<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGA              | US        |  12279000 | PA      | $12313985.33  | 1.43%             | 2026-03-05      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                   | Banco Bilbao Vizcaya Argentaria SA                                                                       | CUSIP: 05946KAK7<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   1600000 | PA      | $1603467.20   | 0.19%             | 2026-09-14      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                         | GS Mortgage Securities Trust, Series 2011-GC5, Class AS                                                  | CUSIP: 36191YAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1772191 | PA      | $1705950.34   | 0.20%             | 2044-08-10      | Variable      | 5.21%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC                                                                                                    | CUSIP: 3137EAEU9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |  12900000 | PA      | $12871520.67  | 1.49%             | 2025-07-21      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                           | UMBS                                                                                                     | CUSIP: 31346YA29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    595274 | PA      | $545836.45    | 0.06%             | 2049-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| State of New York Dormitory Authority                                | State of New York Dormitory Authority, Personal Income Tax, Revenue Bonds, Series 2010D                  | CUSIP: 649902T29<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      4613 | PA      | $4698.34      | 0.00%             | 2030-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Issuer Trust                                    | GLS Auto Receivables Issuer Trust, Series 2024-3A, Class A2                                              | CUSIP: 37989AAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    793537 | PA      | $794294.58    | 0.09%             | 2027-08-16      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Dell International LLC                                               | Dell International LLC                                                                                   | CUSIP: 24703DBP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1407000 | PA      | $1393594.10   | 0.16%             | 2030-02-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                   | Banco Santander SA                                                                                       | CUSIP: 05964HAQ8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    600000 | PA      | $595908.24    | 0.07%             | 2028-03-24      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                             | John Deere Capital Corp., Series I                                                                       | CUSIP: 24422EYE3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   1303000 | PA      | $1313680.56   | 0.15%             | 2030-06-05      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CKY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4662500 | PA      | $4690205.97   | 0.54%             | 2026-06-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| State of California                                                  | State of California, Various Purposes, General Obligation Bonds, Series 2009                             | CUSIP: 13063BBU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      6000 | PA      | $6974.03      | 0.00%             | 2039-11-01      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2025-DNA2, Class M1                                                      | CUSIP: 35564NHZ9<br>LEI: 529900XX8WXEM4FBIH80 | Long             | ABS-MBS          | CORP              | US        |    649837 | PA      | $651294.24    | 0.08%             | 2045-05-25      | Floating      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 4087, Class FB                                                                             | CUSIP: 3137AS4Q4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    592901 | PA      | $585967.41    | 0.07%             | 2042-07-15      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| City of New York Municipal Water Finance Authority                   | City of New York, Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series 2010GG  | CUSIP: 64972FT30<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |      8000 | PA      | $7992.92      | 0.00%             | 2042-06-15      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| FHLB                                                                 | FHLB                                                                                                     | CUSIP: 3133XGAY0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |     12000 | PA      | $13060.95     | 0.00%             | 2036-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust                                    | GLS Auto Select Receivables Trust, Series 2024-2A, Class A2                                              | CUSIP: 379924AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1603551 | PA      | $1616965.72   | 0.19%             | 2030-06-17      | Fixed         | 5.58%                 | Yes           |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                             | Bristol-Myers Squibb Co.                                                                                 | CUSIP: 110122ED6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    713000 | PA      | $716647.35    | 0.08%             | 2026-02-20      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797PE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  21916500 | PA      | $21876197.75  | 2.53%             | 2025-07-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                          | Toronto-Dominion Bank (The)                                                                              | CUSIP: 89115A3A8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1429000 | PA      | $1434063.23   | 0.17%             | 2026-12-17      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                 | Glencore Funding LLC                                                                                     | CUSIP: 378272BR8<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    502000 | PA      | $508498.79    | 0.06%             | 2027-04-04      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                         | GS Mortgage Securities Trust, Series 2011-GC5, Class D                                                   | CUSIP: 36191YAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     49051 | PA      | $37153.52     | 0.00%             | 2044-08-10      | Variable      | 5.29%                 | Yes           |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                            | Nelnet Student Loan Trust, Series 2021-CA, Class AFX                                                     | CUSIP: 64035GAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1175663 | PA      | $1098825.05   | 0.13%             | 2062-04-20      | Fixed         | 1.32%                 | Yes           |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                    | Philip Morris International, Inc.                                                                        | CUSIP: 718172CY3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   1517000 | PA      | $1519990.77   | 0.18%             | 2026-02-13      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BFLD Mortgage Trust                                                  | BFLD Mortgage Trust, Series 2021-FPM, Class A                                                            | CUSIP: 05554BAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4795000 | PA      | $4795000.48   | 0.56%             | 2038-06-15      | Floating      | 6.03%                 | Yes           |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2024-HQA2, Class M1                                                      | CUSIP: 35564NDZ3<br>LEI: 5299002OYNAPMJKK2A73 | Long             | ABS-MBS          | CORP              | US        |   1701300 | PA      | $1701827.46   | 0.20%             | 2044-08-25      | Floating      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| Oportun Funding Trust                                                | Oportun Funding Trust, Series 2024-3, Class A                                                            | CUSIP: 68377NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    721766 | PA      | $721987.47    | 0.08%             | 2029-08-15      | Fixed         | 5.26%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797PP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  17586100 | PA      | $17479097.37  | 2.02%             | 2025-08-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Notes                                                                                      | CUSIP: 91282CJL6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14762900 | PA      | $14792763.87  | 1.71%             | 2025-11-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                                               | Marlette Funding Trust, Series 2024-1A, Class A                                                          | CUSIP: 57108VAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125043 | PA      | $125231.72    | 0.01%             | 2034-07-17      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust                                  | Connecticut Avenue Securities Trust, Series 2024-R03, Class 2M1                                          | CUSIP: 207941AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1018277 | PA      | $1018273.65   | 0.12%             | 2044-03-25      | Floating      | 5.46%                 | Yes           |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor Asset Trust VII                         | Research-Driven Pagaya Motor Asset Trust VII, Series 2022-3A, Class A                                    | CUSIP: 76088TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    185011 | PA      | $185067.32    | 0.02%             | 2030-11-25      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| FHLMC Pool                                                           | UMBS                                                                                                     | CUSIP: 31339UZQ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1024268 | PA      | $938882.80    | 0.11%             | 2049-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                     | Pennsylvania Turnpike Commission, Revenue Bonds, Series 2010B                                            | CUSIP: 709223ZZ7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |      7000 | PA      | $6909.89      | 0.00%             | 2049-12-01      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2024-HQA1, Class M1                                                      | CUSIP: 35564NBX0<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | CORP              | US        |   1185378 | PA      | $1187999.54   | 0.14%             | 2044-03-25      | Floating      | 5.56%                 | Yes           |                  2 | On Loan: No      |
| North Texas Tollway Authority                                        | North Texas Tollway Authority                                                                            | CUSIP: 66285WFB7<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |      8000 | PA      | $8805.72      | 0.00%             | 2049-01-01      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                     | McDonald's Corp.                                                                                         | CUSIP: 58013MFX7<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    880000 | PA      | $903137.75    | 0.10%             | 2029-05-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC, Series 4286, Class VF                                                                             | CUSIP: 3137B6VQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    482388 | PA      | $476080.30    | 0.06%             | 2043-12-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FHLMC                                                                | FHLMC STACR REMIC Trust, Series 2025-DNA1, Class A1                                                      | CUSIP: 35564NFY4<br>LEI: 529900WZAMS87JCAOC53 | Long             | ABS-MBS          | CORP              | US        |   1310932 | PA      | $1308886.86   | 0.15%             | 2045-01-25      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| United States of America                                             | U.S. Treasury Bills                                                                                      | CUSIP: 912797NX1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   4791700 | PA      | $4790589.76   | 0.55%             | 2025-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Nashville & Davidson Convention Center Authority           | County of Nashville & Davidson Convention Center Authority, Revenue Bonds, Series 2010B                  | CUSIP: 592125AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      6000 | PA      | $6424.37      | 0.00%             | 2043-07-01      | Fixed         | 6.73%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** EQ Advisors Trust

**Signature:** Brian Walsh

**Name of Signer:** Brian Walsh

**Title:** Chief Financial Officer and Treasurer